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The cryptocurrency market has continued its revival, consolidating yesterday’s positive performance. Over the past 24 hours, the global crypto market cap reached $2.36T, a 4.63% increase from yesterday. Similarly, the overall Fear & Greed Index increased from 40 to 57, signifying growing investor belief.
With Bitcoin market dominance dropping by 0.03%, new cryptocurrency releases, listings, & presales today are gaining investor attention. InsideBitcoins provides a selection of such tokens, including their utilities and market prospects.
New Cryptocurrency Releases, Listings, and Presales Today
Covalent is emerging as a pivotal player in modular data infrastructure, effectively tackling the long-term challenges related to data availability and verifiability in AI applications. Meanwhile, Taiko has launched an open-source, permissionless ZK-Rollup designed to enhance Ethereum’s scalability natively.
In another innovative development, Aark introduced a groundbreaking Leverage-Everything Perpetual DEX, which provides high leverage on a wide range of long-tail assets and fee-free leverage options for liquidity providers (LPs). Furthermore, the ongoing presale of SHIBASHOOT tokens has garnered substantial interest, raising over $675,700. Meanwhile, BlackRock’s CEO, Larry Fink, strongly believes in Bitcoin’s potential role in investment portfolios.
1. Covalent X (CXT)
Covalent is emerging as a key player in modular data infrastructure, addressing AI’s long-term data availability and verifiability challenges. The Covalent Network is transitioning towards a decentralized, community-owned, and community-run protocol. It captures indexes and stores blockchain data across multiple network points, making it instantly accessible through the GoldRush API, previously known as the Unified API.
Moreover, the Covalent Network is designed to be compatible with standard data tools, is multi-chain compatible, is storage and network efficient, and requires minimal resources, thus making it suitable for commercial and retail infrastructure.
At the core of Covalent’s ecosystem is the Covalent X Token (CXT). All network settlements use CXT. Operators must meet a minimum staking requirement and are compensated in CXT for validating data requests, indexing blockchain data, and responding to queries.
Covalent has announced several strategic partnerships to expand its network and capabilities. For instance, it has integrated with Movement Labs’ M2, a MEVM ZK L2 on Ethereum, to provide real-time data indexing and deployment tools.
CXT is live.
The Future is Verifiable Data.
Day Zero of the New Dawn is here 🌅https://t.co/rPQtcqhvXR
🧵⬇️
— Covalent (@Covalent_HQ) July 11, 2024
Similarly, collaborating with the University of Calgary introduces the first academic validator, supporting Web3 education and innovation. Furthermore, Covalent has partnered with Ava Labs to index its ecosystem of 30+ Subnets, thereby enhancing real-time data access via the UnifiedAPI and Increment HQ. Integrating Dexalot, an on-chain central limit order book DEX on an Ava Labs Subnet, enables real-time data access.
Additionally, Covalent has teamed up with OpsideZK to index its Pre-Alpha Testnet and entire ZK-RaaS network, offering visibility into ZK-Rollups. Likewise, the partnership with Neon EVM brings advanced data tools to the Solana community, facilitating access and use of Neon’s on-chain data. Finally, Covalent’s collaboration with SparqNet aims to index Avalanche Subnets, offering enhanced data visibility for AppChains through the Unified API and Increment HQ.
2. Taiko (TAIKO)
Taiko, an open-source and permissionless ZK-Rollup, is designed to scale Ethereum natively. The platform operates without centralized control, ensuring the community manages nodes and transactions.
Relying on Ethereum block builders for transaction sequencing, Taiko decentralizes the process, enhancing network security and reliability. This “based” rollup design closely integrates with Ethereum, thereby inheriting the base layer’s security and liveness guarantees.
In May 2024, Taiko distributed TAIKO tokens to over 300,000 community members through a highly anticipated airdrop. Consequently, the network supports over 100 protocols across various sectors, including DeFi, gaming, social platforms, infrastructure, and tooling.
Taiko is decentralized and permissionless, making it possibly the first “based” rollup. It operates without a centralized sequencer, relying on Ethereum validators for transaction and block management. Furthermore, the platform uses an Ethereum-equivalent ZK-EVM (type-1), providing developers with a seamless experience similar to working directly on Ethereum but at a greater scale.
As a Contestable Rollup, Taiko allows app chains to define their proof systems and adopt newer validity proofs without altering the core protocol. This adaptability ensures it can keep up with future technological advancements. Additionally, Taiko’s based sequencing is a major differentiator. Since Ethereum L1 validators act as sequencers, there is no need for a centralized sequencer.
Trailblazers Kicks Off: 12 Million TAIKO prize pool for the first season!
10 million TAIKO will be allocated to our users, and 2 million TAIKO will be allocated for dApps on Taiko during our first season which will last for 3 months!
— Taiko 🥁 (@taikoxyz) June 11, 2024
Contestable rollups feature contestation and based sequencing, enhancing robustness and decentralization. Similarly, booster rollups aim to scale L1 applications directly, removing the necessity to redeploy to L2. Moreover, Taiko supports various proofs, including zkVMs, TEE, and guardian proofs, to enhance security and efficiency.
Taiko has formed strategic partnerships to bolster its ecosystem. For instance, Aspecta’s AI-powered identity supports the growth of the Taiko developer community. Collaboration with QuillAudits has resulted in significant security improvements for Taiko’s bridge. Additionally, integration with Etherscan provides seamless access to transaction details and account information from day one on Taiko.
3. Aark (AARK)
Aark has introduced a pioneering Leverage-Everything Perpetual DEX, offering high leverage on diverse, long-tail assets and fee-free leverage opportunities for liquidity providers (LPs). This novel architecture, termed “Architecture,” brings several unprecedented innovations. To maintain a sustainable leveraging environment, it focuses on robust liquidity.
Additionally, the Hyper-Diverse LP feature allows liquidity provision using any ERC20 tokens. It includes delta-neutral, single-sided capabilities, thus minimizing volatility exposure and enabling diverse asset baskets. Consequently, Aark is the only platform offering such high-leverage trading. It has a fully decentralized design and compatibility with various liquidity protocols. This structure, in turn, supports using both LST and LRT liquidity, providing a professional trading experience with sophisticated order management and execution.
Furthermore, Aark offers a gasless trading experience, eliminating fees for actions from collateral deposit to contract approval and trading. Their Reflective Market Maker (RMM) simulates centralized exchange (CEX) order books, ensuring minimal slippage and price impact. For instance, the price impact for a $1 million buy order of $ARB is 0.36% on Aark, compared to higher percentages on other platforms like Binance, GMX, and Kwenta.
🚀Exciting news! Aark will be featured in Season 3 of @garden_finance 🌸, a cutting-edge Bitcoin bridge for rapid swaps on @arbitrum.
Get ready for our upcoming quest to maximize capital efficiency and earn exclusive rewards for Aarkadians. Stay tuned! 🔥 pic.twitter.com/TwUGib2WKX
— Aark (@Aark_Digital) June 27, 2024
Moreover, Aark’s token, $AARK, is available through token mining, allowing traders to earn rewards. The platform boasts a user-friendly interface combined with professional tools, aiming to ensure that users take advantage of trading opportunities. In recent partnerships, Aark has partnered with Vaultka to combine advanced LP structures with real yield opportunities, APX Finance to enhance trading user experience, and Beoble to revolutionize trading chat experiences.
Additionally, it has partnered with CoinMetrics to improve low-latency oracles and market data. The GMD protocol will enhance liquidity in the Aark Digital LP Pool and create new vaults on GMD. These collaborations will drive innovation and enhance Aark’s users’ services, thus positioning it as a notable player in the DeFi space.
4. Shiba Shootout (SHIBASHOOT)
ShibaShootout is making waves with its creative and competitive Wild West-themed platform. Central to this initiative is its unique staking mechanism, Cactus Staking, which enables SHIBASHOOT token holders to lock their tokens in exchange for rewards. This system emphasizes transparency, as all staking activities can be viewed through an official dashboard.
The platform currently offers an annual percentage yield (APY) exceeding 1491%, with over 22 million tokens already staked. A digital cactus visually represents staking rewards, growing as the stakeholder’s commitment lengthens, thus indicating earnings progression.
Community engagement is a key focus for ShibaShootout. Through Token Governance Roundups, users can participate in decision-making processes regarding the project’s direction. The Lucky Lasso Lotteries also provide excitement, allowing participants to win prizes through token-based draws.
The Savings Saddlebags feature is noteworthy for those interested in financial planning. This tool automatically enables users to allocate a portion of their tokens to a designated wallet, encouraging long-term savings and strategic resource management.
The ongoing presale of SHIBASHOOT tokens has generated significant interest, raising over $675,700. The token value is $0.0196, with seven days remaining before the next price increase. This period offers an opportunity for investors to engage at the current rate.
ShibaShootout combines thematic creativity with practical staking and savings mechanisms, providing an engaging and comprehensive user experience. The project’s emphasis on transparency, community involvement, and innovative features within its Wild West theme distinguishes it in the competitive cryptocurrency landscape.
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