DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 823

BlockDAG’s NO VESTING PASS in 24 Hrs as TRX Eyes $0.50 & Aave News Approves Kraken Deal

By
TI Partners
-
0

The crypto space is taking sharp turns this week. The most recent Aave news confirms a key DAO decision, approving Kraken-supported Ink Foundation to release a revamped version of Aave V3. This project could introduce new revenue-sharing options. Meanwhile, the Tron (TRX) technical outlook stays strong as TRX continues holding major EMAs and signals a potential move to $0.50.

However, the spotlight now shifts to BlockDAG (BDAG), where the NO VESTING PASS is shaking up the usual presale structure. With over $350 million raised, 24.3 billion BDAG coins sold, and a projected 3025% ROI, BlockDAG is positioning itself as the best crypto coin to buy right now.

Kraken’s Ink Foundation Gains Access to Aave’s Code for Institutional Lending

A significant update in Aave news is the DAO’s approval allowing Kraken-backed Ink Foundation to launch a custom version of Aave V3. Ink will build a centralized lending platform using Aave’s code.

The DAO also approved a six-month support window, with revenue sharing set through a 5% reserve factor. During this time, Ink won’t be allowed to work with other lending protocols. Liquidity incentives are set to target $250 million. Aave V3 continues to operate across 17 blockchains, including Ethereum and Base.

Tron Price Outlook: EMA Support Points to Higher Targets

The Tron (TRX) technical outlook remains favorable, as prices stay above both the 100-day and 200-day exponential moving averages, which are still trending upward. TRX gained strength after its rally earlier in 2024 and has now broken past the extended consolidation near $0.28.

If support around the 100 EMA holds, analysts expect TRX to push toward the $0.50 to $0.60 range. However, if it breaks below this level, the next support lies at the 200 EMA, near $0.28. This would serve as a key test for the current trend’s momentum.

BlockDAG’s NO VESTING PASS Reshapes the Final Stage of the Presale

With the presale reaching its highest momentum yet, BlockDAG has introduced a key strategic move, the NO VESTING PASS. This isn’t just a bonus offer, it’s a major part of the broader BlockDAG GLOBAL LAUNCH Release. Under this campaign, the BDAG price remains fixed at $0.0016 until August 11.

Once the deadline passes, the price will resume its regular batch increases. The NO VESTING PASS has been live for just 10 days, and now only 1 day remains before it ends.

So, what makes it unique? Buyers who take advantage of the current $0.0016 price during this offer will receive full access to their BDAG holdings once the coin launches at $0.05, no lockups, no phased releases. On top of that, holders gain a projected ROI of 3,025%.

This offer bypasses traditional vesting mechanisms, giving participants immediate liquidity at launch. Since Batch 1, the presale has already surged 2,660%, with over $350 million raised and 24.3 billion BDAG sold.

At this scale, the NO VESTING PASS isn’t just a limited-time incentive, it marks a major shift in how presales are executed. BlockDAG is closing its presale chapter with a clear message: this final phase is about straightforward access, maximum flexibility, and proven traction.

BDAG Tops the List of the Best Crypto Coin to Buy Now

The Aave news signals major updates in how lending protocols are licensed and monetized. The Tron (TRX) technical outlook shows firm support and price growth potential. Still, both rely on execution and market sentiment.

BlockDAG, on the other hand, is offering something more direct: $350 million raised, 24.3 billion coins sold, and a NO VESTING PASS that unlocks at launch with zero delays. The 3025% ROI and real liquidity access give BlockDAG a unique edge.

In a market full of speculation, BlockDAG offers certainty. That’s what makes it the best crypto coin to buy today.

Presale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Magic Eden Has Introduced A Variable Quantity Bitcoin Runes Swaps Feature

By
Paul Ugbede Godwin
-
0

Magic Eden has introduced a variable quantity Bitcoin Runes swaps feature, allowing users to trade any amount of Runes for Bitcoin (BTC) or vice versa without being restricted to predefined lot sizes. This feature, powered by aggregated liquidity from SatsTerminal, offers improved pricing and a seamless trading experience. Users can access this through Magic Eden’s onchain orderbook, with Full Mempool Protection ensuring secure and efficient transactions.

The swaps are non-custodial, meaning users retain control of their assets throughout the process. This update eliminates the need for lot-based trading, making Runes swaps more flexible and accessible for both small and large trades. This flexibility makes the Runes ecosystem more accessible to retail traders and smaller investors who may not have the capital to purchase entire lots, previously a barrier to entry. By lowering the entry barrier, Magic Eden’s platform encourages broader participation, potentially increasing trading volume and user adoption. This aligns with Magic Eden’s goal of simplifying the trading experience, making it more intuitive for both new and experienced users.

The feature introduces more liquidity to the Runes market by enabling seamless trading without the need to split or combine lots manually. This is particularly beneficial for larger traders (“whales”) who can now execute high-volume trades with fewer clicks, attracting more significant players to the ecosystem. Increased liquidity fosters a healthier and more competitive market, potentially stabilizing prices and reducing slippage (the difference between expected and executed trade prices).

Magic Eden’s dominance, with 75.94% of Runes trading volume, suggests it is well-positioned to drive this liquidity surge. The swaps feature, built on Magic Eden’s onchain orderbook with Full Mempool Protection, ensures secure and transparent transactions while simplifying the process to a few clicks. Users can set their desired BTC amount or Runes quantity, and the platform finds the best quote within a specified price tolerance.

A streamlined user experience reduces friction, making Runes trading comparable to DeFi platforms on Ethereum or Solana. This could attract users from other blockchains, enhancing Magic Eden’s position as a leading marketplace for Bitcoin-based assets. Runes, as a fungible token standard on Bitcoin, are designed to minimize network congestion compared to predecessors like BRC-20, leveraging Bitcoin’s UTXO model for efficiency. Variable quantity swaps further amplify this by enabling a thriving meme coin and DeFi ecosystem on Bitcoin.

The feature supports Bitcoin’s evolution into a hub for DeFi and meme coins, with tokens like DOG•GO•TO•THE•MOON and PUPS•WORLD•PEACE seeing significant price gains. This could drive further innovation, such as cross-chain swaps and Lightning Network integration, enhancing Bitcoin’s utility beyond a store of value. The use of an onchain orderbook (not an automated market maker) and Full Mempool Protection ensures trades are executed transparently on the Bitcoin blockchain, reducing risks like failed transactions or network congestion.

Retail traders may face higher slippage for less liquid Runes due to the “head effect,” where liquidity is concentrated in a few popular tokens. This could create a divide where smaller traders struggle to access favorable prices for less popular Runes, while whales dominate high-liquidity markets. The feature requires users to have a compatible Bitcoin wallet like Magic Eden Wallet and a basic understanding of Runes and the Bitcoin network. New users or those unfamiliar with Web3 wallets may face a learning curve, creating a divide between tech-savvy early adopters and newcomers.

Magic Eden’s user-friendly interface mitigates this to some extent, but educational resources and wallet setup support will be crucial to bridge this gap. Without widespread adoption, the Runes ecosystem risks remaining niche, limiting its potential to rival Ethereum or Solana-based DeFi. Magic Eden’s dominance in Runes trading (75.94% market share) compared to competitors like OKX (17.58%) and UniSat (1.70%) creates a divide between platforms. Smaller marketplaces may struggle to compete, leading to a centralized trading hub despite the decentralized nature of Runes.

This concentration could stifle competition, potentially leading to higher fees or reduced innovation from smaller platforms. However, Magic Eden’s investment in features like swaps and analytics may continue to drive user preference, reinforcing its market lead. The Runes market shows a “strong head effect,” with liquidity concentrated in top tokens like DOG•GO•TO•THE•MOON. Less popular Runes may have lower liquidity, making them harder to trade efficiently.

Traders focusing on niche Runes may face challenges like high slippage or limited trading opportunities, creating a divide between mainstream and obscure tokens. This could discourage diversity in the Runes ecosystem unless liquidity is improved for smaller projects. Variable quantity swaps strengthen Bitcoin’s DeFi ecosystem, but it still lags behind Ethereum and Solana in terms of trading experience and infrastructure. The clunky nature of Bitcoin’s onchain trading compared to other chains highlights a technological divide.

While Magic Eden’s feature is a step forward, broader improvements (e.g., BIP-420’s OP_CAT proposal) are needed to bring Bitcoin’s trading experience closer to Ethereum’s or Solana’s. This divide may persist until Bitcoin’s infrastructure matures, potentially limiting Runes’ mainstream adoption. Magic Eden’s variable quantity Bitcoin Runes swaps enhance accessibility, liquidity, and user experience, positioning Runes as a key player in Bitcoin’s evolving DeFi and meme coin ecosystem.

However, the feature also highlights divides in market access, liquidity distribution, and technological maturity. By addressing these challenges through education, incentives, and infrastructure improvements, Magic Eden and the Runes Protocol can drive broader adoption and strengthen Bitcoin’s role in decentralized finance.

Nigeria Receives N1.95 Trillion in Direct Remittances in 2024 – CBN Report

By
Ojukwu Emmanuel
-
0

Nigeria recorded a total of N1.95 trillion in direct remittances in 2024, according to data from the Central Bank of Nigeria (CBN) analyzed by BudgIT.

These substantial inflows had a significant impact on the country’s international payments landscape, even as broader economic challenges persisted.

Data revealed that between December 2023 and December 2024, May 2024 saw the highest monthly direct remittance at N355.4 billion, followed by N270.5 billion in June and N230.2 billion in September. Conversely, the lowest monthly figures were N38.4 billion in December 2023 and N39.1 billion in February 2024.

Despite the inflow, Nigeria’s balance of payments reflects a worrying trend. In 2024, the country recorded $ 5.72 trillion in international repayments, which included $ 994.21 billion in Letters of Credit and $ 4.72 trillion in debt service payments—covering both interest and principal repayments on external loans. Letters of Credit, commonly used in international trade, serve as a financial guarantee from Nigerian banks to foreign sellers.

The significant disparity between inflows and outflows underscores the continued strain on Nigeria’s external financial position. The net effect has exacerbated pressure on the naira, which has seen sharp depreciation due to persistent foreign exchange demand outweighing supply.

Although direct remittances represent a critical inflow, they are insufficient to balance Nigeria’s growing external obligations. On a more optimistic note, total remittance inflows—encompassing all formal channels—rose to $20.93 billion in 2024, an 8.9% year-on-year increase. This marks a sharp recovery from the deficits of $3.34 billion in 2023 and $3.32 billion in 2022, making 2024 the best remittance year since 2019, when inflows stood at $23.80 billion.

According to the World Bank, Nigeria’s remittance peak over the past decade was $24.31 billion in 2018, with the lowest recorded in 2020 at $17.21 billion. The 2024 rebound was attributed to macroeconomic reforms, improved trade dynamics, and growing investor confidence. The CBN noted that IMTO inflows alone surged by 43.5% to $4.73 billion, up from $3.30 billion in 2023.

Under the current CBN Governor, Olayemi Cardoso, who assumed office in September 2023, when the nation was grappling with forex scarcity, the apex bank has focused on ensuring that International Money Transfer Operators (IMTOs), operating in the country, are allowed to play a role that would lead to a significant increase in remittance flows.

Fast forward to April 2025, the CBN broke a new record under Cardoso with Dollar inflows. The apex bank revealed that remittance flows into the Nigerian economy rose by nine per cent to $20.98 billion, the highest level in five years under the current leadership of Olayemi Cardoso.

Cardoso noted that the improvement in remittances was due to economic reforms, stating that there was a remarkable increase in monthly inflows from $250 million in 2024 to $600 million by September of that year. He revealed that more Nigerians abroad are choosing official and formal channels to remit funds due to CBN policies that have reformed remittance platforms.

The CBN governor further stressed that the recent stabilization of the FX market and growth in key sectors are indicators of economic recovery. He reiterated that increased remittances and a more stable macroeconomic climate would support economic progress.

Nigeria’s status as a top remittance destination remains firm, reflecting the strength and engagement of its diaspora. However, without broader economic reforms and diversified revenue sources, the country’s reliance on remittance inflows alone will not be sufficient to stabilize its external financial position.

At the continental level, Africa received over $95 billion in remittances in 2024, with Nigeria, Egypt, and Morocco ranking as the top beneficiaries. The Africa Finance Corporation (AFC), in its State of Africa’s Infrastructure Report 2025, described the surge in remittances as a pivotal shift—strengthening formal financial ties between African economies and their diasporas and signaling a gradual reversal of long-standing capital flight trends.

Tinubu Seeks Extra $347m Loan for Lagos-Calabar Coastal Highway as Senate Approves $25bn Borrowing Plan

By
Samuel Nwite
-
0

President Bola Tinubu has written to the House of Representatives requesting approval for an additional $347 million external loan to fund the Lagos-Calabar Coastal Highway, citing an upward revision in the financial requirements of the controversial project.

The request forms part of the federal government’s revised borrowing plan for the 2025–2026 fiscal period.

In the letter, Tinubu explained that the additional funds were needed to meet the adjusted scope and design of the project, a flagship infrastructure plan aimed at boosting inter-state connectivity along Nigeria’s southern corridor. The president stressed the urgency of the funding, describing the project as “critical to Nigeria’s economic competitiveness” and a strategic priority for the administration’s Renewed Hope Agenda.

The House is expected to deliberate on the fresh loan request in the coming weeks, while the Senate had, on Tuesday, already given its nod to an earlier tranche of Tinubu’s expansive borrowing plan—approving a combined external loan package of $21.5 billion, €2.2 billion, and 15 billion Japanese Yen, alongside a €65 million grant.

In addition to the foreign loans, the Senate also approved a domestic bond issuance of N757.98 billion aimed at clearing outstanding liabilities under the Contributory Pension Scheme (CPS), some of which date back to December 2023. The move was widely seen as a bid to provide relief to thousands of retirees impacted by chronic delays in entitlement payments.

The Senate’s approval forms part of the 2025–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), documents that lay out the federal government’s fiscal direction and economic priorities over the next two years.

Senator Aliyu Wamakko, Chairman of the Senate Committee on Local and Foreign Debts, who presented the committee’s report, disclosed that most of the proposed loans were concessional in nature—offered at low interest rates with extended repayment terms. These, he explained, are intended to finance critical sectors such as power, transportation, education, health, agriculture, and water resources without placing excessive strain on Nigeria’s fragile public finances.

In his communication to the National Assembly, President Tinubu defended the borrowing plan as necessary to address the country’s “massive infrastructure deficit” and to sustain key economic programmes at a time when government revenue has been under immense pressure, particularly since the removal of fuel subsidies.

“In light of the significant infrastructure deficit in the country and the paucity of financial resources needed to address this gap amid declining domestic demand, it has become essential to pursue prudent economic borrowing to close the financial shortfall,” Tinubu stated.

One of the most notable provisions in the Senate-approved plan is the proposed $2 billion Foreign Currency Denominated Issuance Programme in the domestic debt market. The programme, enabled by Presidential Executive Order No. 16 of 2023, is designed to raise foreign currency from domestic sources—such as diaspora remittances, foreign businesses, and private sector players operating in Nigeria—rather than international lenders.

According to the Senate, this innovative measure is aimed at deepening the local capital market, easing pressure on Nigeria’s foreign reserves, and attracting new investors. Proceeds from the programme will be ring-fenced for investment in strategic sectors including energy, digital infrastructure, and transport.

“The initiative provides an alternative to external borrowing, reduces pressure on foreign reserves, and allows investors to earn returns on their dollar holdings while contributing to national development,” the Senate committee said.

Equally pivotal is the Senate’s approval of the N757.98 billion bond issuance to settle backlogs in pension contributions under the CPS. Nigeria’s pension system has faced a crisis in recent years, with the federal government repeatedly defaulting on its obligations due to revenue shortfalls. The prolonged delays have left many retirees in financial distress, unable to meet basic needs or access healthcare.

According to Tinubu’s letter to the Senate, the Federal Executive Council (FEC) had already given prior approval for the pension bond programme in February 2025. The president said the bonds would “cushion the hardship of retirees, restore trust in the pension system, and stimulate liquidity in the domestic market.”

Lawmakers who supported the overall borrowing plan acknowledged the country’s growing public debt profile but argued that the long-term benefits—including job creation, improved infrastructure, and expanded access to health and education—outweighed the immediate costs. They insisted that the loans, grants, and bond issuance represented a necessary and strategic response to the nation’s economic realities.

The Senate said the borrowing programme is a fiscal pivot designed to put Nigeria on a more sustainable growth trajectory. It described the approval as a vital step toward stabilizing the economy, modernizing critical infrastructure, and addressing historic pension arrears that have long eroded public trust in the system.

As attention now turns to the House of Representatives for its review of the additional $347 million sought for the Lagos-Calabar Coastal Highway, Tinubu’s administration is betting heavily on borrowed funds to drive its development agenda. However, the mounting debt burden continues to spark concern among analysts and civil society groups, who warn that without corresponding increases in revenue, the borrowing spree will exacerbate Nigeria’s fiscal vulnerability.

Google’s AI Overview Hits 2 Billion Users Globally as Alphabet Doubles Down on AI Investments

By
Samuel Nwite
-
0

Alphabet CEO Sundar Pichai announced on Tuesday that Google’s artificial intelligence services are reaching unprecedented global usage levels, with AI Overviews — the company’s AI-powered search summaries — now serving 2 billion monthly users across more than 200 countries and territories.

The announcement came during Alphabet’s Q2 2025 earnings call, where Pichai outlined the company’s ongoing momentum in scaling consumer-facing AI products.

The new milestone marks a significant jump from the 1.5 billion monthly users recorded in May, highlighting how quickly AI Overviews has embedded itself into Google’s core search experience. The feature, which presents summarized answers to queries using generative AI, has become central to Google’s strategy to transform search from a traditional list of blue links to a dynamic, conversational interface.

“We continue to see strong growth and engagement,” Pichai said, adding that daily requests for Gemini — Google’s flagship generative AI model — have grown over 50% since Q1.

The Gemini app itself now boasts 450 million monthly active users, while AI Mode, a conversational layer embedded into Google Search, has surpassed 100 million monthly users. AI Mode was initially launched in the U.S. but has since expanded into India and is being rolled out in more regions.

In a move aimed at deepening user interaction, Google plans to upgrade AI Mode with new features such as Deep Search, which allows for more comprehensive research capabilities, and personalized responses based on user preferences and behavior — further tightening the integration between users and AI-generated content.

Beyond consumer tools, Google is also scaling its AI ecosystem for developers. The company reported that over 9 million developers have built applications using Gemini models, and interest continues to rise. Meanwhile, Google’s text-to-video tool, Veo 3, has been used to create more than 70 million videos since May. Within Google Workspace, Google Vids, powered by Veo, now has nearly 1 million monthly users.

AI-driven productivity tools are also seeing growing adoption. Over 50 million users have used AI-powered note-taking in Google Meet, which includes features like real-time summarization, follow-up task suggestions, and automated action items — all driven by Google’s in-house AI models.

To underscore the scale of its generative AI systems, Alphabet revealed that its infrastructure is now processing 980 trillion tokens per month — more than double the 480 trillion tokens handled in May. This metric illustrates the explosive growth in AI workload and the heavy computing demand these services now place on Google’s infrastructure.

Despite the remarkable growth, Alphabet’s Q2 2025 financial results presented a more complicated picture for investors. The company reported revenue of $84.7 billion, up 14% year-over-year, and net income of $23.7 billion. However, shares dipped more than 6% after Pichai confirmed that capital expenditures reached $11 billion for the quarter and would rise even further in the second half of the year to accommodate AI infrastructure expansion.

“We are seeing significant demand for our comprehensive AI product portfolio,” Pichai said. “This is all possible because of the long-term investments we’ve made in our differentiated, full-stack approach to AI.”

While investors remain cautious about the cost implications, the company’s AI bet is clearly gaining traction across both consumer and enterprise segments. From Search to Workspace, Gemini to Veo, Google is staking its future on building and scaling AI tools — and the numbers now prove that users are coming along for the ride.

1...822823824...7,969Page 823 of 7,969

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy