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MemeCore Continues to Build its Footprint at the OKX MemeCoin Summit

MemeCore Continues to Build its Footprint at the OKX MemeCoin Summit

MemeCore, an innovative Layer-1 blockchain purpose-built for the meme coin space, is proud to announce its continued partnership with OKX at the recent MemeCoin Summit held on September 18, 2024. This event, an official side event of the renowned Token2049 conference in Singapore, saw MemeCore return as a sponsor, further solidifying its commitment to the burgeoning meme coin ecosystem.

MemeCore’s presence at the summit follows its successful collaboration with OKX at Korea Blockchain Week (KBW) 2024. The jointly hosted event at KBW drew an impressive 1,200 attendees and garnered significant social media exposure, reaching over 200,000 individuals. This continued partnership with OKX, a global leader in cryptocurrency exchange and Web3 technology, underscores MemeCore’s dedication to collaborating with industry leaders to drive innovation and growth within the meme coin sector.

The event was buzzing with activity, featuring a variety of engaging activities. Attendees tested their skills at game booths, with frisbee, shooting, and basketball challenges adding an element of fun competition to the event. The summit also provided a platform for thought leadership, with panel discussions delving into the future of meme coins, decentralized finance (DeFi), and the evolving landscape of the blockchain industry.

The event was further strengthened by the participation of major industry players. Gold sponsors included Polygon, a leading platform for building Ethereum-compatible blockchains; Aptos, a Layer-1 blockchain focused on scalability and security; and Ankaa, a Web3 accelerator supporting innovative projects. Other notable sponsors included 1Inch, Deeplink, Fractal, DappOS, Scallop, ME Foundation, Google, and JE Labs. Media partners such as Slow Mist, a blockchain security firm, and CoinTelegraph, a leading cryptocurrency news outlet, further amplified the summit’s reach and impact.

“The Memecoin Summit was an important event for MemeCore to showcase its vision to unite the meme coin community into one chain, as well as its commitment to shaping the future of meme coin through partnerships. MemeCore will provide the infrastructure and platform to ensure that Memecoin is not just a trend, but a cultural movement.,” said Anndy Lian, Managing Director for LIFT Ecofund at MemeCore. ” We will continue to grow with the community through creative collaboration.”

About OKX:

OKX is a leading global cryptocurrency exchange and Web3 technology company. Trusted by more than 50 million users worldwide, OKX offers a comprehensive suite of products and services, including spot and derivatives trading, NFTs, DeFi, and more. OKX Ventures, the investment arm of OKX, is committed to supporting entrepreneurs and projects that are building the future of the blockchain industry.

About MemeCore:

The MemeCore Foundation is a Meme-Chain designed to support the MemeCoin community through seamless interaction with Memes in other blockchain ecosystems. MemeCore’s priority is becoming a “memeable” space, building a community for memes, and fostering innovation to support the Meme coin community. MemeCore believes that memecoin is not just a trend but a cultural movement. Our mission is to let memecoin communities participate in a decentralized future with creativity and inclusiveness.

 

Source: https://apnews.com/press-release/marketersmedia/memecore-continues-to-build-its-footprint-at-the-okx-memecoin-summit-9a4d82d07cd123c80e49e6ae57c547d9

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Crypto carnage continues! Investors lose over $2 trillion in eight months + Additional insights

Crypto carnage continues! Investors lose over $2 trillion in eight months + Additional insights

I have also added more insights to what I was quoted in The Economic Times.

Anndy Lian said: “The key weakness to crypto is that we are too closely linked to traditional assets. This weakness is amplified by traditional institutions that were here just for short-term gains. The quick outflow of money left us high and dry.

I think the major tokens contributing to this fall started off with the TERRA LUNA and UST saga last month. Then we saw a global economic slow down choked amid inflation and war, which then resulted in weaker demand in Bitcoin from long-term holders on top of higher selling pressure from the short-term holders. This added pressure to Ethereum too, which has fallen close to 28% in the last 7 days. The downstream issues have snowball effects as the two big brothers continue to fall. Today we saw Celsius tanking 70% in 1 hour after they stop withdrawals citing extreme market conditions. Withdrawals also cause liquidity issues and could result in unsustainable APY.

We need to understand that the whole crypto market is tightly knitted together. While many out there are spreading FUDs about Ethereum for instance. They are also indirectly killing themselves. At such times, we need to stay united and make relevant decisions to reduce losses to the investments made in the most logical manner.

The recovery will not be anything soon based on the current market sentiments and statistics. This could be a start to another crypto winter which could last for another 2 years or so.”

 

Crypto carnage continues! Investors lose over $2 trillion in eight months

New Delhi: The carnage in the crypto market has gathered pace with no near-term respite in sight. Considering the latest slide, investors have lost over $2 trillion (about Rs 15.65 lakh crore) over eight months.

If we compare the notional value lost, only eight countries have a GDP more than what the crypto market eroded in less than three quarters. Countries like Canada and Italy have a GDP of little more than $2 trillion, whereas Brazil’s GDP stood at $1.83 trillion.

The total market capitalization (m-cap) of the digital market is marginally above the $1 trillion mark, which was more than $3 trillion at its peak in November 2021.

Bitcoin, the largest crypto token, is barely above the $25,000 level. It has dropped more than 20 per cent over the weekend, with its market cap slipping below $500 billion or half a trillion.

Its largest peer, Ethereum, has barely managed to hold the $1,300 mark, with total valuation just above $160 billion.

Both the tokens are down about 70 per cent from their peaks. Bitcoin’s dominance in the total market cap has been about 47.25 per cent, which shows that altcoins are left with value worth merely a few billion dollars.

Market participants are linking the weakness in the crypto market closely with the traditional asset class.

Shivam Thakral, CEO, BuyUcoin said after the consumer price index reported the highest inflation since 1981, financial markets across the globe have seen a sharp downturn. The rising food, gas, and energy prices are putting tremendous pressure on the crypto market, he added.

“The market is expected to remain choppy in the coming weeks and the globe continues to report high inflation numbers.”

Anndy Lian, Chairman, BigONE Exchange said the weakness is amplified by traditional institutions who were here just for short term gains. The quick outflow of money left us high and dry, he added.

“We saw a global economic slowdown amid inflation and war, which then resulted in weaker demand. There are liquidity issues and could result in unsustainable annual per cent yield.”

Among the altcoins, Curve Dao Token, Nexo, Fantom, Stepn, Waves, Kava and THORChain have taken a big hit. These tokens are down by 20 per cent in the last 24 hours.

On a weekly basis, Convex Finance, ApeCoin, Avalanche, Near Protocol, Axis Infinity, Harmony and The Graph are down by 35-50 per cent. The major part of this correction has been witnessed over this weekend.

Praveen Kumar, Founder & CEO, Belfrics Group said the volatility in the market would continue which would have a significant impact on the valuation of other coins including Ripple, Cardano, Tether, Solana, among others.

The recovery will not be anything soon based on the current market sentiments and statistics, said Lian from BigONE Exchange. “This could be a start to another crypto winter which could last for another 2 years,” he adds.

On the other hand, some experts are suggesting investors to buy the dips to average out their cost and make gains in the longer term. Going forward, I believe the volatility would continue and there would be immense pressure on Bitcoin and other key altcoins as well, said Kumar of Belfrics.

Thukral from BuyUcoin said that the current dip in the crypto prices allows investors to buy crypto at 2021 prices and we expect the seasoned investors to take advantage of the dip.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

 

 

Original Source: https://economictimes.indiatimes.com//markets/cryptocurrency/crypto-carnage-continues-investors-lose-over-2-trillion-in-eight-months/articleshow/92179178.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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Crypto On Jan. 24: Market Bloodbath Continues, Experts Call It A ‘Correction Phase’

Crypto On Jan. 24: Market Bloodbath Continues, Experts Call It A ‘Correction Phase’

KEY POINTS

  • Bitcoin, Ether slide
  • Top coins trade in red
  • Market cap down

The bloodbath in the cryptocurrency market that began Friday has continued with top coins Bitcoin and Ethereum trading below expectations, leading the market cap to slide 1.86% to $1.61 trillion as of 2.20 a.m. ET. Experts, however, remain optimistic, and have termed the slide a “correction phase” for the market.

Bitcoin fell 0.81% to $35,213. Ethereum slid 2.54% to $2,419, CoinMarketCap data showed.

Barring a slight uptick in Tether price, all top 10 cryptos were trading in the red. Solana, which faced yet another bout of network issues, shed 11.93%.

Meme cryptos Dogecoin and Shiba Inu saw a plunge, with DOGE down 2.08% and SHIB down 6.69%.

Experts attribute the crypto market bloodbath primarily to the tightening of regulations and rising inflation.

“The hint to uncertainties started from the tightening of crypto regulations in many countries,” Anndy Lian, Chairman, BigONE Exchange, told International Business Times. “This process of regulatory enforcement has made many new crypto investors worried about their portfolio.”

“To add on to this, as many of these new crypto traders are also heavy in stocks investments, their worries were increased when the S&P 500 and Nasdaq recorded their biggest drops since 2 years ago. Together with their anticipation of inflation and interest rate hikes from the US Federal Reserve, they sold off their crypto assets to de-risk themselves.”

Jay Hao, chief executive officer of OKX.com, a global cryptocurrency exchange, called the downward slope of the market a “correction phase.”

“Every market goes through a correction phase and similarly, crypto market is also undergoing a correction phase after touching the $3 trillion mark last year,” Hao told International Business Times.

“We might witness some inter crypto investment which will increase the market volume even if the overall market cap dips due to the falling prices,” he added.

Echoing the optimism among experts, Bloomberg senior commodity strategist Mike McGlone said that despite the current slide, Bitcoin will hit the $100,000 mark in 2022.

In other news, online trading app Robinhood has announced that it has begun rolling out crypto wallets to 1,000 users from the top of the wallets waitlist. The company plans to expand to over 10,000 customers by March.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.

 

Original Source: https://www.ibtimes.com/crypto-jan-24-market-bloodbath-continues-experts-call-it-correction-phase-3381902

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j