This Week in Signal Teams — Litecoin, Elrond, Orion Protocol
Every week we comb through hundreds of FTX Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro Crypto News This Week
- Bitcoin Sees 5 Down Weeks in a Row for First Time Since 2014
- Block Generates $1.73 Billion in Bitcoin Transactions During Q1
- Terra Buys Another $1.5 Billion in Bitcoin for Reserves
- Uzbekistan to Exempt All Bitcoin and Crypto Companies from Taxes
- Luxury Brand Gucci to Start Accepting Bitcoin in Select Stores
- AutoNation Now Accepts Bitcoin at Some Dealerships
- World’s Largest Family-Owned Private Bank, LGT, to Offer Bitcoin
- Bitcoin Network Difficulty Reaches a New ATH of 29.794T
- Turkey Reports an Inflation Rate of 70%
Top FTX Signals This Week
- MimbleWimble Extension Block Locked on Litecoin
- Elrond Announces BHero Launchpad and First Gaming Guild
- Orion Protocol Integrates Fantom for DeFi
MimbleWimble Extension Block Locked on Litecoin
“After years of development, ‘MWEB’ or MimbleWimble Extension block is officially locked in for Litecoin!”
— Jay Milla, Marketing Director
Summary
- This means MWEB, as well as Taproot, will be part of the Litecoin Core 0.21.2 final release update in two weeks.
- Starting at block 2,265,984 (~May 19th), MWEB will be activated on mainnet, and everyone who has updated to v0.21.2 will be able to start sending and receiving LTC using the MWEB.
- MimbleWimble is a privacy- and scalability-enhancing blockchain protocol. Its integration will let Litecoin users mask sender and receiver’s addresses and the transferred amount
Significance
This update will improve Litecoin’s privacy, anonymity, and fungibility.
Price at the time of FTX Signal: $99. View LTC on FTX.
Elrond Announces BHero Launchpad and First Gaming Guild
“We are excited to introduce BHero, the launchpad that spun out of the BH Network project with the goal of adding bandwidth to the Elrond startup scene and accelerating the rate at which new ideas come to fruition in our ecosystem.”
“Introducing egld.gg — The First Gaming Guild Dedicated To The Elrond Ecosystem.”
— Dan Voicu, Head of Communications
Summary
- BHero Launchpad is focused on security and compliance. BHero will allow projects and NFT collections to launch in full compliance with the Financial Markets Authority, boosted by on-chain verification from Anchain and KYC system integration from Synaps.
- egld.gg is the first web3 gaming guild dedicated to the Elrond ecosystem. It will spearhead the P2E movement by combining gaming communities, investments, education, and scholarships (lending of in-game assets).
Significance
Launchpads like BHero are catalyzing the expansion of the Elrond ecosystem, with deep care for aligning the long-term interests of users and startups. BHero Launchpad is expected to become a pillar of growth for the Elrond ecosystem by nurturing great ideas into disruptive projects. With egld.gg, Web3-enabled social groups will share the upsides of establishing the new frontiers for evolution in the Metaverse.
Price at the time of FTX Signal: $125. View EGLD on FTX.
Orion Protocol Integrates Fantom for DeFi
“Orion Protocol unveils Fantom as the latest chain integration on Orion Terminal.”
— Alexey Koloskov, CEO + Co-Founder
Summary
- Fantom is the first new addition in a long line of chains to be added. The goal is to make Orion Terminal the ultimate platform for trading aggregated crypto assets in one place without global restrictions.
- This integration gives users and FTM holders unprecedented access from their own wallets to the unparalleled speed, security, and reliability of Fantom across aggregated liquidity sources such as SpookySwap.
Significance
This integration increases the depth of liquidity and speed on Orion Terminal, improving its positioning as the gateway to the digital asset market. Fantom users get access to aggregated decentralized liquidity. The Orion integration connects many of these different and siloed pools of liquidity in a non-custodial framework that removes friction.
Price at the time of FTX Signal: $2.45. View ORN on FTX.
Quotes of the Week:
“Clearly don’t want to be long stocks or bonds. It’s hard not to want to be long crypto because of the pure amount of intellectual capital coming into the space.”
— Paul Tudor Jones
“Great potential for Bitcoin to outperform traditional assets.”
— Bloomberg Intelligence
“We believe in the potential of crypto both as an investment and as a liquid alternative to cash.”
— Tesla in SEC Filing
Chart of the Week:
The following chart shows Bitcoin’s correlation to the Nasdaq, which remains extremely high in all time frames. Investors currently group Bitcoin with technology stocks and similar risk-on assets. Crypto investors don’t believe this high of a correlation makes much sense and are hoping for a decoupling.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
FTX Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 1,000 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to FTX’s 6 million+ users. Learn more.
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