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Recent Funding Rounds for Crypto Projects & Companies on Oct 18thđđ°
Cryptocurrency and blockchain companies continue to attract significant funding in the ever-evolving digital landscape. On October 18, 2023, two noteworthy funding rounds took place, showcasing the industryâs vitality and potential. Letâs dive into the details of these funding rounds:
1. Prove Identity â Securing the Digital Realm with $40M
Date: October 18, 2023
Financing Amount: $40 Million
Valuation: Undisclosed
Category: Others
Subcategories: Identity, Privacy, Security
About Prove Identity, Inc. â A Leader in Digital Identity Solutions
Prove Identity, Inc. (âProveâ) has established itself as a global leader in digital identity solutions, and its recent funding round underscores its significance in the field. This $40 million funding round, led by MassMutual Ventures and Capital One Ventures, will further propel Proveâs mission to reshape the digital identity verification and authentication landscape.
Proveâs success is underpinned by its remarkable 40% growth in international customer acquisition this year, a testament to its prowess in digital identity solutions. The new funds will be allocated to launching innovative commerce enablement and fraud-fighting use cases. Additionally, Prove will expand its global footprint and continue addressing the ever-evolving threats faced by institutions operating in the digital economy.
Investors:
- MassMutual Ventures
- Capital One Ventures
Founders & Team:
- Rodger Desai
- Tom FitzSimmons
Company Profile / Project Introduction:
Prove empowers businesses to streamline the identity verification process for their customers, enhancing security and preserving consumer privacy and choice. With over 1,000 businesses across various industries, including banking, finance, healthcare, insurance, and e-commerce, Proveâs Phone-Centric Identity⢠platform manages over 1 billion consumer and small business identity tokens globally. This enables companies to mitigate fraud, boost revenue, and reduce operating costs across all channels. Proveâs omnichannel solutions are available in 195 countries, making it a global leader in the space.
2. Elixir â Unlocking Liquidity with $7.5M in Series A Funding
Date: October 18, 2023
Financing Amount: $7.5 Million
Valuation: $100 Million
Category: DeFi
Subcategory: Liquidity
About Elixir â Series A Funding Round
DeFi protocol Elixir achieved a significant milestone on October 18, 2023, by securing $7.5 million in Series A funding, valuing the project at $100 million. Hack VC led this round, with participation from NGC Ventures, AngelList Ventures, Bloccelerate, as well as contributions from prominent industry figures.
Investors:
- Hack VC
- NGC Ventures
- AngelList Ventures
- Bloccelerate VC
Founders & Team:
Company Profile / Project Introduction:
Elixir is a DeFi protocol designed to democratize market-making on both centralized and decentralized exchanges. By aligning incentives with projects and offering greater transparency, Elixir aims to address the challenges and scrutiny faced by market makers. This innovative approach has garnered support from a diverse group of investors and industry leaders, making Elixir a promising player in the DeFi liquidity landscape.
The funding rounds for Prove Identity and Elixir reflect the ongoing growth and innovation within the cryptocurrency and blockchain industry. As these projects continue to develop and expand their offerings, they contribute to the broader ecosystemâs maturation, offering exciting opportunities for investors and users alike.
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Toncoin And SUI Post Exciting Gains While NuggetRush Receives Investors From Top Crypto Communities
TLDR
- Toncoin (TON) surged explosively from $3.32 to $5.02 within a week, defying the market drop. This surge broke previous resistance levels, making it a favorable investment. The introduction of The Open League contributed to the bullish momentum.
- Sui (SUI) is a top altcoin with a thriving ecosystem, attracting developers and users, leading to a record $700 million total value locked (TVL). Despite recent market fluctuations, SUI has remained bullish, staying above key moving averages.
- NuggetRush (NUGX) unleashed a new era for cryptocurrencies by offering tangible use cases through a play-to-earn (P2E) game model. Participants earn income by building a mining empire, participating in in-game activities, and selling collectibles.
Toncoin (TON) has experienced an impressive resurgence, defying market trends with a notable price increase. Elsewhere, Sui (SUI) features an advanced ecosystem that has attracted hundreds of developers and thousands of users. Yet, NuggetRush (NUGX) is a game-changer in the crypto space with its innovative play-to-earn (P2E) model. Here are the reasons Toncoin and Suiâs investors are turning to NuggetRush for lucrative investment opportunities.
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Toncoin (TON) Surges: Defying Market Drop and Targets New Highs
With a price gain from $3.32 to $5.02 in just a week, Toncoin (TON) showed a strong rebound, defying the current market drop. Apart from extending the recovery, the 40% surge enabled Toncoin (TON) to break above the previous resistance at $4.58, providing the buyers with another reason to keep holding.
After it retraced 50% to trade at $3.32, Toncoin (TON) resumed its recovery trajectory. Several factors are believed to have an impact on Toncoinâs (TON) price. A large active community incentive program, The Open League, was introduced recently, and it caused a bullish spike for the token.
Starting in April 2024, the program will reward competitive projects and users in the TON network with 30 million Toncoin, valued at nearly $115 million. With such developments, Toncoin (TON) ranks among the best altcoins to buy today.
On March 25, 2024, Toncoin (TON) was trading at $5.03, up 27.75% in the past week. Analysts say Toncoin (TON) will set a new all-time high above $5.25 by the end of March, powered by increased demand for the token.
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Sui (SUI) Emerges as a Top Altcoin: Growth Trajectory and Price Targets
Sui (SUI) has transformed to become one of the top altcoins in the market. Notably, Suiâs blockchain has attracted hundreds of developers and thousands of users. As a result, the total value locked (TVL) in Suiâs ecosystem has spiked to reach a record $700 million.
Since the beginning of 2024, Sui has been in a strong bullish trend. The token has gained in the recent week, remaining relatively stable in the recent bearish crypto market. SUI has remained above the 50-day and 100-day Exponential Moving Averages. Nonetheless, SUI needs to break the resistance at $1.97 to open the way for a surge toward $2.50.
Coupled with the many developments since May 2023, SUI has been on an upside trajectory in the long term. On March 25, 2024, SUI was valued at $1.69, up 3.66% in the past week. Experts believe SUI will hit $1.77 by the end of March, powered by growing demand for the token.
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NuggetRush (NUGX): Transforms Crypto with P2E Gaming and Social Impact
In the past, cryptos have lacked defined utilities and have always been highly volatile. Nevertheless, everything changed with the entry of NuggetRush (NUGX). Resembling most of the top play-to-earn (P2E) games, NuggetRush (NUGX) lets participants earn an income using enjoyable in-game activities.
Interestingly, NuggetRush (NUGX) features the building of a mining empire using site discovery and teamwork. Gamers set up mining facilities, trade most available in-game items, collect rare and cool NFTs and set up expert teams to achieve âmaster minerâ status. This prestigious status lets them amass considerable wealth through their mining empire.
Furthermore, NuggetRush (NUGX) offers many income streams via in-game operations. In that context, gamers earn rewards from battles, quests, ranked play, and tournaments. Moreover, they can sell in-game collectibles on NuggetRushâs marketplace.
Remarkably, the platform supports artisanal mining communities in remote and underdeveloped countries. All these utilities make NuggetRush (NUGX) a great crypto to buy.
NuggetRushâs governance design gives the Rush Guild members access to various areas and the power to vote on decisions linked to NUGXâs ecosystem.
Currently, NuggetRushâs blockchain ICO is in the Launchpad round, with each NUGX token trading at $0.019. Furthermore, the project has sold over 248 million NUGX tokens and raised over $3.3 million. Analysts say NUGX will surge significantly after listing on mainstream exchanges. Hence, it is a top crypto to buy now.Â
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Bitcoin’s Best Days Are Still Ahead, This AI Altcoin Could Outperform Render by the End of the Year
With only a month remaining until the Bitcoin (BTC) halving, BTC value has retraced despite recent capital influxes pushing the price to a new all-time high earlier this month. Even so, several prominent crypto figures are largely bullish, projecting that Bitcoinâs better days are ahead and that BTC will still climb higher, surpassing its recent high. Meanwhile, an AI altcoin, InQubeta (QUBE), is causing a stir in the crypto market with its unique proposition.
Given its bullish momentum, investors are flocking to its platform, and InQubeta could outperform Render (RNDR) before the year ends. As a platform that allows fractional investment in AI startups, InQubeta has gained the spotlight as one of the best altcoins to buy this year. The presale has seen significant results, raising over $12.4 million in funding.
Letâs explore how InQubeta could outperform Render before the year ends amidst Bitcoin having better days ahead.
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InQubeta (QUBE): Governance Token Structure Attracts InvestorsÂ
InQubeta, with its innovative approach as the first crypto crowdfunding platform, could outshine competitors like Render by the end of the year. This new DeFi crypto is transforming the crypto AI market by facilitating fractional investments in AI startups through QUBE tokens. The platform aims to transform AI startupsâ fundraising and community engagement landscape.
Built on the Ethereum blockchain, QUBE distinguishes itself as the best DeFi crypto with its deflationary token mode. This approach offers crypto investors a unique avenue for portfolio diversification. The tokenomics model positions QUBE holders to earn rewards via token staking, featuring a 2% buy and sell tax directed towards a burn wallet and a 5% buy and sell tax allocated to a dedicated reward pool. This new DeFi crypto structure attracts investors who are bullish on the growth prospects of AI technology startups.
InQubeta designed its QUBE token as a governance token, boosting its potential to surpass Render in the market. This feature makes it the best DeFi crypto and grants holders the authority to engage actively in decision-making processes crucial to the platform. The QUBE governance structure empowers token holders to propose, discuss, and vote on various aspects shaping the platformâs development, ensuring a democratic and community-driven approach.
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Bitcoin (BTC): Samson Mow Remains Optimistic On The Token ValueÂ
Bitcoin has experienced notable price appreciation this year. Starting the year at $42,208 on January 1st, it surged to a new record of $73,737 on March 14th. It has yet to maintain this high as the 30-day countdown progresses. Samson Mow, a long-time predictor of significant price increases, remains optimistic that BTC will soon exceed its previous all-time high.
On the X platform, Ran Neuner advised his followers that a 20â30% decline for BTC âwould be entirely typical and beneficialâ in a bull market. Even if the decline persists, industry experts suggest that the overall trajectory for the primary cryptocurrency is likely upward. Also, with the United States Federal Reserve contemplating interest rate reductions, analysts anticipate favorable prospects for Bitcoin in the days to come.
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Render (RNDR): Increase In Whale Activity Boosts Its Market SentimentÂ
The Render token has been experiencing upward momentum recently. On-chain reports from Lookonchain indicate notable involvement from major investors, known as whales, in the RNDR market. Three prominent whales have pooled together to deposit 2.5 million RNDR tokens onto centralized exchanges (CEX) in pursuit of profit-taking.Â
This deposit is equivalent to $30.8 million. This substantial influx of tokens from these influential investors highlights the increased trading activity surrounding RNDR. It suggests a deliberate strategy to leverage the prevailing bullish sentiment in the market. Despite the positive outlook, InQubeta is set to outshine Render in the market.
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Conclusion
Despite Bitcoinâs price fluctuation, analysts are predicting better days. InQubeta is trending in the market due to its approach of connecting AI startups with potential investors. As one of the best altcoins, InQubeta is seeing impressive results on its presale. You can be part of the QUBE project by buying the token via the website. Just visit the site and follow the detailed instructions on purchasing the token.
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SWIFT To Launch CBDCs Platform in 2025-26
SWIFT, the global messaging network used by banks, service providers, clearinghouses, corporate business houses, brokers, is planning to launch a new platform to connect central bank digital currencies (CBDCs) in the next one to two years, according to the firmâs head of innovation, Nick Kerigan.
Central banks around the world are tinkering with their own CBDCs and the race for who will launch a digital currency has a geopolitical component to it.
China has a digital yuan in the works and has been trialing the currency for many years. The Bahamas, Nigeria and Jamaica already have CBDCs.Â
Swedenâs Riksbank recently released its final report on its CBDC, the e-Krona, and the European Central Bank is developing the digital Euro too.
SWIFTâs Trials and Roadmap to Launch New Platform
âWe are looking at a roadmap to productize (launch as a product) in the next 12-24 months,â Kerigan told the newswire in an interview.Â
See Also: US Sanctioned 13 Crypto Firms For Alleged Involvement With Russian Banks
âItâs moving out of the experimental stage towards something that is becoming a reality,â added Kerigan.
Kerigan explained in SWIFTâs latest platform trial it took six months and involved a 38-member group of central banks, commercial banks and settlement platforms, all collaborating on national digital currencies.
The trial was focused on making sure that all the different countriesâ CBDCs can all be used together even if built on different underlying technologies and this in turn would reduce payment system fragmentation risks.
The timeframe set out by SWIFT could change if CBDC launches around the world are delayed but for now the global payments firm is developing a new platform.
Bank of International Settlements CBDC Plans
In January the Bank of International Settlements (BIS) unveiled that its CBDC project is entering a new phase this year.Â
The BISâs âAurumâ project is exploring âthe privacy of payments in retail CBDCs.â â BIS said this is one of the first six projects for 2024 being developed under its Innovation Hub work programme.
See Also: âBinance Is Not Paying Its Taxes In Multiple Jurisdictions,â â CNBC Reporter
The BIS is also working on Project mBridge, a multi-CBDC common platform for wholesale cross-border payments.Â
In September, BIS and central banks of France, Singapore, and Switzerland announced a successful testing of cross-border settlement for wholesale-CBDCs.Â
Project Mariana, tested and demonstrated the frictionless transfer of CBDCs across the different networks.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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Recent Funding Rounds for Crypto Projects & Companies on October 19thđźđ