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31
Сryptocurrency exchanges / BRICS Meeting Highlights Shift...
Last post by Bitcoin - Jun 12, 2024, 08:03 am
BRICS Meeting Highlights Shift to Local Currencies

BRICS Meeting Highlights Shift to Local Currencies and Economic CooperationBRICS Ministers of Foreign Affairs have emphasized using local currencies in trade, reaffirming economic resilience and financial sovereignty. At their meeting on Monday, the Ministers underscored the importance of the enhanced use of local currencies in financial transactions between the BRICS countries. BRICS Ministers Push for Use of Local Currencies The BRICS Ministers of Foreign […]

Source: BRICS Meeting Highlights Shift to Local Currencies
32
Сryptocurrency exchanges / Bitwala and Curve Announce Par...
Last post by Bitcoin - Jun 12, 2024, 08:03 am
Bitwala and Curve Announce Partnership for Digital Wallet Integration

Byte-sized news on the latest topics relating to crypto and technology.Bitwala, a blockchain banking service based in Berlin, has entered into a partnership with Curve, a digital wallet provider. The partnership is aimed at integrating Bitwala's services with Curve's digital wallet. Users can add Bitwala to their Curve Wallet and avail a 1% cashback offer on their purchases for 30 days. The Curve card can […]

Source: Bitwala and Curve Announce Partnership for Digital Wallet Integration
33
Сryptocurrency exchanges / Largest Bank in Brazil Itau Un...
Last post by Bitcoin - Jun 12, 2024, 08:03 am
Largest Bank in Brazil Itau Unibanco Opens Cryptocurrency Trading to All Users

Largest Bank in Brazil Itau Unibanco Opens Crypto Trading to All UsersItau Unibanco, the largest bank in Brazil and all of Latam, has reported the availability of cryptocurrency trading services for all its users. Through Ion, the bank’s in-house investment platform, customers can purchase bitcoin (BTC) and ether (ETH), a feature previously available to selected users. Brazilian Banking Giant Itau Unibanco Opens Cryptocurrency Trading Services for […]

Source: Largest Bank in Brazil Itau Unibanco Opens Cryptocurrency Trading to All Users
34
Сryptocurrency exchanges / Floki Name Service Is Live on ...
Last post by Bitcoin - Jun 12, 2024, 08:03 am
Floki Name Service Is Live on BNB Chain

Byte-sized news on the latest topics relating to crypto and technology.Floki Name Service, a decentralized domain name service by the popular meme coin, is now live exclusively on the BNB Chain mainnet. This service allows users to create a unique .floki domain name, which can be used as an on-chain identity and for other purposes such as launching a decentralized website, blog, or résumé. Built […]

Source: Floki Name Service Is Live on BNB Chain
35
Forex / Greenback Remains Firm, Still ...
Last post by PocketOption - Jun 12, 2024, 08:03 am
Greenback Remains Firm, Still Driest Towel on the Rack

Overview:  The US dollar is firm against all
the G10 currencies, except for sterling, which is straddling unchanged levels
after labor market report that showed an uptick earnings remain elevated, and
the unemployment rate ticked up to a new high since September 2021. The dollar
reached a new six-day high against the Japanese yen near JPY157.40. The Chinese
yuan (onshore) fell to new lows since last November as the mainland markets
re-opened from the holiday-long weekend. Most emerging market currencies are
lower, including the Mexican peso, which has become unhinged amid heightened
political uncertainty. The peso staged a bit of a recovery in late North
American dealings but came under pressure again as president-elect Sheinbaum
encouraged the discussion of judicial reform.

European bonds, especially
French bonds, remain under pressure following the EU Parliament election and
the snap French election at the end of the month. German debt is still seen as
a safe haven, while French, Italian, Spanish, and Portuguese 10-year yields are
at new six-month highs. Ahead of the US sales of $39 bln 10-year notes today,
the 10-year yield is off about three basis points to 4.43%. Yesterday's
three-year note tailed, extending the streak of weak direct bidder
participation. Equities are under pressure today. South Korea and India are
exceptions in Asia Pacific where Australia's 1.3% drop led the move lower. Europe's
Stoxx 600 is off for the third consecutive session, the longest losing streak
in a month. US index futures are also softer. Gold is consolidating in a narrow
range (~$2298-$2213). July WTI is little changed after rallying almost 3%
yesterday, its biggest rally of the year amid concern that supply/demand
considerations are more favorable ahead of the IEA report tomorrow.

Asia Pacific

Without new high-frequency
data, the market had little distraction for tomorrow's FOMC meeting and
Friday's BOJ meeting.
China
reports CPI and PPI tomorrow and disinflation/deflationary forces are expected
to ease slightly. Beijing could report May lending figures are any day now, and
the risk is on the upside on the back of seasonal factors and accelerated
fiscal support. However, through April, aggregate lending aggregate lending has
been last than in the first four months of 2023 (~CNY10.2 trillion this year
vs.~CNY11.3 trillion). Meanwhile, there is much talk about China shifting
exports to the Global South, and this does seem to be picked up in the data. Last
week's export figures showed a 2.4% decline of shipments to the US, a 5%
decline to the EU, and an 8.3% decline to Japan. Exports to Brazil were up 25%
year-over-year, and shipment to ASEAN were up 4.1%. As one would expect,
though, the surge of Chinese exports is causing some consternation outside of
the US and Europe. Brazil recently announced a quota and tariff system on
Chinese steel. Even more recently, Türkiye slapped a 40% tariff on Chinese-made
vehicles starting in July. India has also levied tariffs on Chinese steel and
aluminum. After a new European Commission is in place later this month, it is
expected to announce tariffs on Chinese vehicles, and they might be retroactive.
That said, Germany is a reluctant party, and it is not clear the how the
drubbing the Scholz SPD did in the European Parliament elections (slipping to
third place behind the CDU/CSU and the AfD) will impact it stance, if at all.
Separately, there is a push in the US Congress to convince the Biden
administration to include China's CATL and Gotion on the sanction list.

The dollar's range against
the yen was set before the North American session yesterday, roughly
JPY156.50-JPY157.20.
The
high in North America was recorded near JPY157.10 after the US Treasury's $56
bln sale of three-year notes tailed. It edged up to about JPY157.40 today.
Resistance is seen in the JPY157.50-70 area, which may hold ahead of tomorrow's
key US events. The Australian dollar recovered from one-month lows in the
Asia Pacific (~$0.6575) to session highs in North America yesterday ($0.6610),
leaving a bullish hammer candlestick.
 There has been no follow-through
buying today and the Aussie remains in a narrow range of about $0.6590-$0.6610.
Look for the consolidative tone to continue in North America. After tomorrow's
US CPI and FOMC meeting, Australia reports market-sensitive jobs data on
Thursday. The dollar rose to its highest level against the yuan since
last November today, near CNY7.2545 as markets reopened from yesterday's
holiday.
 The PBOC set the dollar's reference rate at CNY7.1135
(CNY7.1106 Friday) and the average in Bloomberg's survey was CNY7.2621
(CNY7.2425 Friday). The yuan, though seems to be more a function of
the dollar's movement, especially against the yen, for which the offshore yuan
shares the common characteristic of being an attractive funding currency. The
greenback held below CNH7.2725, against the offshore yuan. The high from late
May is slightly higher (~CNH7.2760) and the high for the year, set in mid-April
was about CNH7.2830. 

Europe

The post-mortem of the
European Parliament election continues but the UK is center stage today and
tomorrow for high-frequency economic data.
 The UK reported the latest jobs data today and
tomorrow is April GDP (and details). Unemployment was ticked up to a new high
for the year of 4.4% in the three months through April. The number of employees
on payrolls fell for the fourth consecutive month in April, but the 3k decline
was less than a tenth of the average in first quarter. The claimant count edged
up. Given the BOE's reaction function and comments by some MPC officials, the
earnings component may be the most important. Including bonuses, average weekly
earnings (three-months, year-over-year) were unchanged but only because the
March figure was revised up to 5.9% from 5.7%. Excluding bonus payments,
average weekly earnings unchanged at 6.0%. It is the fifth month in a 6.0%-6.2%
range. There is still practically no chance of a change in rates next week. It
is not simply due to the July 4 election. The swaps market is sees almost a 45%
chance of a cut in August, which is little changed from late May. The market's
confidence of a September cut has increased to about 70% from 56% a couple of
weeks ago. Tomorrow, April's GDP may have stagnated after 0.4% growth in March.
Industrial production/manufacturing, services, and trade appear to have
deteriorated sequentially, with construction, perhaps the only sector not to
have contracted. The UK economy grew by 0.6% in Q1 24 after shrinking in the
last two quarters of 2023. However, that likely overstated the growth, and 0.2%
quarterly expansion seems more probable here in the second quarter.

Euro selling dried up
slightly below $1.0735 yesterday and it recovered to almost the middle day's
range in the North American afternoon.
Still, it finished below what had been support in the $1.0785
area, and the 200-day moving average (~$1.0790) and could not get back above
$1.0775 today. Also, the five-day moving average slipped through the 20-day
moving average for the first time since May 2. The euro's 1.65-cent decline in
the past two sessions is among the largest two-declines this year. Sellers in
the European morning have taken it back to $1.0740. Below yesterday's low,
support is seen in the $1.0700-25 area. Sterling recovered from a dip
below $1.2690 to a little above $1.2735, leaving a bullish hammer candlestick
in its wake.
Follow through buying has been minimal (1/100 of a cent,
according to Bloomberg). and has not risen above $1.2740. The next initial
hurdle is in the $1.2750-60 area, after it stalled last week around $1.2800-15.
A large sterling option (~GBP1.6 bln) expires tomorrow at $1.2795. According to
Bloomberg's data, the euro gapped lower against sterling yesterday and fell to
its lowest level since August 2022 near GBP0.8440. It settled slightly below
its lower Bollinger Band (~GBP0.8460). It is probing yesterday's lows where
options for 600 mln euros expire at the end of the week. Below there, initial
potential may extend toward GBP0.8400. 

America

Today is another quiet day
in terms of the US economic calendar.
Tomorrow features two of the three events that the markets are
particular sensitive to:  jobs, CPI, and Federal Reserve. The employment
report is behind us, and despite the mixed details (e.g., household and
establishment survey, full-time/part-time), the takeaway is that economy
appears to have done better in May than April. We expect this to be borne out
next week with gains in retail sales and industrial output after a flat April. It
is a light week for Canadian economic data. The Bank of Canada seemed more
dovish than the ECB but the swap market's nearly 60% probability of a second
rate cut next month seems a bit high. Mexico's May CPI, reported at the end of
last week, slightly softer than expected. Today's it reports April industrial
production figures (median forecast in Bloomberg's survey is for a 0.2%
increase after 0.6% in March). It averaged of 0.15% in the previous three
months, the highest since last August. Still, the reverberations from the
election results, and fear that constitutional changes that weaken the guardrails (e.g.,
independent Supreme Court) that checked the popular and populist government
keep volatility elevated. Lastly, Brazil reports the IPCA CPI today, and the
year-over-year rate is expected to rise for the first time in eight months. Brazil's
central bank was among the first to cut rates, beginning last August. Through
last month, it took the Selic rate down 325 bp to 10.50%. The swaps market has
the next move being a hike by the end of the year.

After the pre-weekend US
dollar surge of a big figure against the Canadian dollar, the greenback was in
a narrow range yesterday.
It
spent most of the session in less than a 30-tick range above CAD1.3750. Recall
that last Friday, after the employment data, the US dollar settled above
CAD1.3750 for the first time since the end of April. It is holding above it so
far today too, though it has held (barely) below yesterday's high. A US dollar
high does not seem in place. The Mexican peso's slide extended yesterday,
and the greenback reached nearly MXN18.66 yesterday in early North American
trading.
As the US dollar stalled more broadly, it pulled back toward
MXN18.2150 in late dealings. However, the peso reversed its recovery amid in
Asia Pacific trading today amid news reports that president-election Sheinbaum
wanted judicial reform to be discussed before the new Congress sits. The dollar
reached about MXN18.58. Volatility is still too high and the political outlook
too uncertain to see new longs, while the carry makes its expensive to short
the peso without strong downside momentum. The Bolsa rose by a little more than
0.25% yesterday after falling 2.75% before the weekend. 























 


Disclaimer 


Source: Greenback Remains Firm, Still Driest Towel on the Rack
36
Forex / US CPI and FOMC Rate Decision ...
Last post by PocketOption - Jun 12, 2024, 08:03 am
US CPI and FOMC Rate Decision - EUR/USD and USD/JPY Technical Analysis

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This week, financial markets are focused on the FOMC interest rate decision, as well as key economic indicators such as CPI and PPI. The Fed’s decision comes on the heels of rate cuts by the ECB and BOC, with expectations of a hold on rates in June. Investors are also looking for signals from the Bank of Japan amidst the Yen’s historic lows. In this context, we analyze market expectations and recent price actions, particularly focusing on EUR/USD and USD/JPY, which has shown resilience with a decade-long uptrend.


FOMC Meeting and Key Economic Indicators: Awaiting the Fed’s Decision



This week, the financial world is waiting with anticipation for the FOMC interest rate decision, statement, press conference, and the dot plot. This follows rate cuts by both the European Central Bank (ECB) and the Bank of Canada (BOC), each by 25 basis points, in response to declining inflation.


In the US, inflation has significantly decreased from its 2022 peak. However, recent CPI and PCE readings indicate persistent inflation in sectors like housing and services. Fed Chair Jerome Powell has emphasized that any future rate cuts hinge on sustained disinflation. Other Fed officials echo these concerns.


Bloomberg analyst surveys, media polls, and CME Group data suggest the Fed will maintain the current 525-550 interest rate in June. Traders now anticipate only two rate cuts in 2024, starting in September, a shift influenced by robust job numbers. Market participants are also keen to see updates in this quarter’s dot plot, particularly regarding the projected rate cuts for 2024.


The upcoming Consumer Price Index (CPI) report, expected to be released on the same day as the FOMC meeting, is also in the spotlight. Forecasts suggest CPI Y/Y will remain at 3.4%, with Core CPI Y/Y also holding steady at 3.6%. CPI M/M is projected to dip to 0.1% from 0.3%, likely due to falling oil prices. The services sector, a recent concern, has shown signs of stabilization within Core CPI. Additionally, a noted increase in medical services costs has brought prices back to their averages.The timing of the CPI report’s release during the FOMC meeting adds another layer of intrigue, as traders and the Fed navigate this uncommon scenario.


The PPI report is due this week, with expectations of a decline in both PPI M/M and Core PPI M/M. Similar to CPI, the services component of PPI has risen since January 2024, returning to pre-COVID levels.


Bank of Japan Expected to Hold Rates Amidst Yen’s Weakness


Meanwhile, later in the week, the Bank of Japan (BOJ) is expected to maintain its current interest rate of 0.10%. However, traders will be watching for any signs of quantitative tightening (QT), which could impact the market. The Japanese Yen, currently trading near a 34-year low, adds another element of uncertainty. Despite the interest rate differential between the US and Japan, carry trades on USDJPY remain attractive to some investors, albeit with inherent risks.


EUR/USD Technical Analysis  – Daily Chart




  • Price action broke out and closed above the upper border of the narrowing formation identified on the above chart, two throwbacks took place as well as a shortfall as the price found support above a confluence of support, represented by monthly PP and Weekly support S1 near 1.0797.

  • However, last week Non-Farm Payroll surprised the markets with higher-than-expected numbers, this caused price action to complete a third throwback which took price action back to the same border discussed on the above point.

  • Price action broke and closed below three moving averages: EMA9, MA9, and MA21.

  • Non-smoothed RSI7 aligns with price action and is currently at oversold territory.

  • The potential double bottom formation (or triple bottom) discussed last time has materialized and still has potential as price found support above the resistance line connecting the three bottoms, if price action fails above this line and trades within the narrowing formation, the pattern may be invalidated.

  • Weekly Chart update: Price action remains below the lower border of the previously discussed ascending channel; multiple pullback attempts have failed so far, and price continues to trade below the pattern.

  • Monthly Chart update: Last month candle was a bullish engulfing candle after price rallied where it was met by resistance at its annual pivot point of 1.0920, taking price action down to 1.0760 where it found support above its intermediate MA21.


USD/JPY Technical Analysis – Daily Chart




  • The USD/JPY price has demonstrated remarkable resilience, maintaining an extended uptrend for over ten years. The latter part of the uptrend, influenced by the fundamental economies of the USA and Japan, is marked by the blue lines on the chart. Price action was trading within an ascending channel; it broke below the channel's lower border during late 2023. However, it has been attempting to re-enter the channel since the breakout. (Unchanged from last week)

  • Following the latest 2024 Bank of Japan meeting, price action was able to break above the channel’s lower border and reenter. However, the break was met by fierce resistance represented by a strong bearish engulfing candle, which closed below the lower border by the end of the trading day.

  • Following the failed breakout, Price action has attempted three pullbacks, and was met by resistance for every attempt so far as indicated on the chart, on all occasions, price action has failed to enter the channel again, formed bearish engulfing candles and shortfalls as price action was met by resistance at its last week PP of 157.12.

  • Price broke below a confluence of moving averages; however, it didn't last long as price reversed back up and closed above the three averages as well as this week’s pivot point of 156.26, a break and a close below this level may invalidate the recent upside price move.

  • Negative Divergence between the latest upside move and tick volume as price rose on a declining volume.

  • Fast RSI7 still aligns with price action and has reversed from overbought territory.


Conclusion


In conclusion, market participants are keenly awaiting the FOMC’s interest rate decision and the release of key economic indicators, particularly CPI. The Fed’s decision, alongside potential policy shifts from the Bank of Japan, will significantly influence currency markets. Technical analysis of EUR/USD and USD/JPY suggests potential volatility and highlights key levels to watch. Traders should closely monitor these events and indicators for potential trading opportunities, while also considering the broader economic context and geopolitical risks.


Source: US CPI and FOMC Rate Decision - EUR/USD and USD/JPY Technical Analysis
37
Forex / Russell 2000 Technical: A pers...
Last post by PocketOption - Jun 12, 2024, 08:03 am
Russell 2000 Technical: A persistent underperformer among the US stock indices

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Russell 2000 Technical: A persistent underperformer among the US stock indices



  • The Russell 2000 has recorded its worst relative performance against the S&P 500 in 23 years.

  • Momentum and technical elements have remained lackluster.

  • The Russell 2000 may be the hardest hit if the Fed continues to signal a higher interest rate environment for a longer period.

  • Short-term momentum has turned bearish ahead of tomorrow's US CPI release & FOMC meeting.

  • Watch the key short-term resistance at 2,065 on the Russell 2000.


The Russell 2000 comprises small-cap listed companies that derived most of the revenue streams (close to 80% on the aggregate) domestically in the US.


Hence, the Russell 2000 can be considered a bellwether for the US economy as it reflects the performance of smaller companies focusing on the US market.


But when comparing its performance against the other major US stock indices such as the S&P 500, Nasdaq 100, and Dow Jones Industrial Average, it has continued to lag. It recorded only a paltry year-to-date return of 0.93% as of Monday, 10 June which was in stark contrast with double-digit gains seen in the Nasdaq 100 (15.30%), and S&P 500 (13.70%) as well as underperforming the Dow Jones Industrial Average (+3.06%) over the same period.


Russell 2000 suffered its worst run against the S&P 500 in 23 years



Fig 1: US Russell 2000 relative performance with S&P 500 as of 10 Jun 2024 (Source: TradingView, click to enlarge chart)


Over a longer-term multi-year period, the performance of the Russell 2000 has been miserable against the larger mega-cap technology stocks represented by the S&P 500.


The underperformance gap between US small-cap stocks and the S&P 500 has continued to widen in the past year as seen in the relative (ratio) chart of Russell 2000 over the S&P 500 where the underperformance of the Russell 2000 has hit a 23-year low (see Fig 1).


The main fundamental reason for the persistent underperformance of the Russell 2000 against the larger-cap S&P 500 is that US small-cap firms have weaker pricing power, lower margins, and weaker balance sheets that weighed down on their earnings growth potential in an elevated high inflationary environment coupled with high interest rates.


In addition, close to 40 percent of the debt on Russell 2000 is on a short-term floating rate compared with about 9 percent for S&P 500 firms. Hence, higher refinancing costs may be inflicted on Russell 2000 firms if the US Federal Reserve in their upcoming FOMC meeting on Wednesday, 12 June signals a higher interest rate environment for a longer period which in turn the Russell 2000 is likely to be the hardest hit.


Russell 2000 has not made a fresh all-time high in the last 2 years



Fig 2: US Russell 2000 major trend as of 11 Jun 2024 (Source: TradingView, click to enlarge chart)


In the lens of technical analysis, the price actions of the US Russ 2000 CFD Index (a proxy of the Russell 2000 futures) are still oscillating within a major sideways range configuration since June 2022 and its current price action as of Monday, 10 June is still 22 percent away from its prior all-time high of 2,464 printed on 8 November 2021(see Fig 2).


In addition, its weekly MACD trend indicator has shaped a recent "lower high" on the week of 27 May 2024 and inched lower which suggests a lack of upside momentum, and its price actions face an increasing risk of transition towards the lower part of its major range configuration.


Short-term momentum has turned bearish on the Russell 2000


 



Fig 3: US Russell 2000 short-term trend as of 11 Jun 2024 (Source: TradingView, click to enlarge chart)


Since last Friday, 7 June, the price action of the US Russ 2000 CFD Index (a proxy of the Russell 2000 futures) has broken below its 50-day moving average and the minor rebound seen on Monday, 10 June has failed to reintegrate above it.


The 4-hour RSI momentum indicator has printed a "lower high" right below the 50 level which suggests that short-term momentum has turned bearish and may support lower price actions at least in the short-term horizon (see Fig 3).


Watch the 2,065 short-term pivotal resistance (also the 20-day moving average) with near-term support at 1,967 and a break below it exposes the 1,924/1,919 major range support (also the 200-day moving average).


On the flip side, a clearance above 2,065 negates the bearish tone for the next intermediate resistances to come in at 2,097 and 2,124.


Source: Russell 2000 Technical: A persistent underperformer among the US stock indices
38
Forex / Aussie edges lower as business...
Last post by PocketOption - Jun 12, 2024, 08:03 am
Aussie edges lower as business confidence slips

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The Australian dollar has declined by 0.28% on Tuesday. AUD/USD is trading at 0.6600 in the European session, down 0.16% on the day. On the data calendar, Australian NAB business confidence was weak and there are no economic releases out of the US.


Australian business confidence falls to six-month low


Australia's NAB business confidence index slipped to -3 in May, down from a revised 2 in April and shy of the forecast of zero. This was the first negative reading since January and its worst performance since December 2023. The results suggest that sluggish economic conditions have continued into the second quarter.


It is difficult to see the business sector showing more optimism until the Reserve Bank of Australia delivers a rate cut, which might not happen until late in the year or early 2025. Inflation has been stubbornly high and Governor Bullock has said that if the downtrend in inflation stalls, the central bank could raise rates. This is an unlikely scenario but illustrates that the RBA remains hawkish and rate cuts are not around the corner.


Wednesday will be busy in the US, with the release of the May inflation report and the Fed rate announcement. Headline CPI is expected to remain unchanged at 3.4% y/y while Core CPI is projected to drop from 3.6% to 3.5%. . Inflation remains a headache for the Federal Reserve as bringing it down to the 2% target as proven elusive.


The Fed is virtually certain to hold the benchmark rate at 5.25% to 5.50% and the markets will be looking for clues as to future rate cuts. A quarter-point cut in September is around a 50/50 likelihood, according to the CME FedWatch.


AUD/USD Technical



  • AUD/USD is putting pressure on resistance at 0.6619. Above, there is resistance at 0.6660.

  • 0.6540 and 0.6499 are the next support levels



Source: Aussie edges lower as business confidence slips
39
Forex / Petoshi ICO: Gamifying Twitter...
Last post by PocketOption - Jun 12, 2024, 08:03 am
Petoshi ICO: Gamifying Twitter with Virtual Pets and Crypto

Petoshi ICO: Gamifying Twitter with Virtual Pets and Crypto

Petoshi ICO: Gamifying Twitter with Virtual Pets and Crypto


Quick Overview



  • Petoshi: A Chrome extension DApp gamifying Twitter by allowing users to adopt and interact with virtual pets, earning cryptocurrency rewards.

  • Virtual pets, farming rewards, feed mechanism, and social interaction, enhancing user engagement and community spirit.

  • PET token ICO on Blast blockchain, with upcoming listings on BitMart, Gate.io, and MEXC on June 13, 2024.

  • Raised $2,800,000 across six funding rounds, with the final public sale aiming to raise $100,000.

  • Plans to expand to YouTube, TikTok, and Instagram, introduce new features like pet customization and mini-games, and enhance DeFi integration.


In the dynamic world of DeFi, innovation and creativity are key drivers of success. Enter Petoshi ICO, an imaginative and engaging decentralised application (DApp) that has taken the crypto community by storm. Seamlessly integrating with Twitter, Petoshi transforms mundane social media interactions into a playful, rewarding adventure. Moreover, its unique approach promises to catapult this project to greater heights.


Petoshi: Gamifying Twitter with Virtual Pets and Crypto


Petoshi is not just another DApp; it’s a revolutionary Chrome extension that gamifies your Twitter experience. By adopting virtual pets, users can farm and feed their digital companions while earning cryptocurrency rewards. This blend of gamification and DeFi turns everyday Twitter activities into a lucrative and enjoyable venture. With the backing of a detailed whitepaper and an active presence on social media, Petoshi has garnered significant attention and anticipation within the crypto sphere.


Petoshi Features: Virtual Pets, Farming Rewards, Community


This project also boasts a myriad of innovative features designed to keep users engaged and rewarded. The primary attractions include:



  • Virtual Pets: Users can adopt virtual pets that grow and evolve based on their activity on Twitter. These pets add a fun, interactive layer to the Twitter experience.

  • Farming Rewards: Active engagement with the extension, such as liking, retweeting, and posting, translates into cryptocurrency rewards distributed through DeFi protocols.

  • Feed Mechanism: To ensure their pets thrive, users must feed them regularly. Neglecting this responsibility could result in stunted growth and reduced rewards.

  • Social Interaction: Petoshi fosters a community spirit, encouraging users to share their experiences, trade pets, and collaborate on various in-app activities.


PET Tokenomics: Blast Blockchain, Listings on June 13, 2024


At the heart of Petoshi lies its native token, PET. As the lifeblood of the ecosystem, PET fuels transactions, rewards, and the overall functionality of the platform. Here’s a breakdown of the tokenomics:



  • Token Name: PET

  • Blockchain: Blast

  • Current Rank: #634 in DeFi

  • Upcoming Listings: BitMart, Gate.io, and MEXC on June 13, 2024


The structured approach to token distribution and the robust DeFi integration underscore Petoshi’s commitment to creating a sustainable and rewarding ecosystem for its users.


Petoshi Funding: $2.8M from IDO and Private Rounds


Petoshi’s journey through the fundraising landscape is both impressive and promising. Here’s a snapshot of its funding rounds:



  • Public Sale (IDO on GameFi): Currently active, running from June 11 to June 12, 2024. This round aims to raise $100,000 by offering 100,000 PET tokens at $1 each.

  • Public Sale (IDO on Petoshi) Round 2: Concluded on April 23, 2024, raising $2,000,000 by selling 1,430,000 PET tokens at $1.4 each.

  • Public Sale (IDO on Petoshi) Round 1: Completed on April 20, 2024, raising $800,800 with 616,000 PET tokens priced at $1.3.

  • Series B and Series A: These private rounds have ended, though specific details remain undisclosed.


In total, Petoshi has successfully raised $2,800,000 across six funding rounds, establishing a solid financial foundation for its ambitious plans.


Token Generation Event: PET Listings on Major Exchanges


Token Generation Event: PET Listings on Major Exchanges


The Token Generation Event (TGE) is a critical milestone for any cryptocurrency project, and Petoshi ICO is no exception. Scheduled for June 13, 2024, the TGE will coincide with the token’s listing on prominent exchanges such as BitMart, Gate.io, and MEXC. This event marks the official distribution of PET tokens to investors and early adopters, setting the stage for broader market adoption.


PET Token Launch: Major Listings and Market Integration


Petoshi’s upcoming token launch on June 13, 2024, seems poised to be a significant event in the DeFi space. With listings on major exchanges like BitMart, Gate.io, and MEXC, the project is positioned to gain substantial visibility and liquidity. This launch will not only enhance token accessibility but also potentially drive up its market value as more users flock to the platform.


Future Plans: YouTube, TikTok, Instagram Integration


Petoshi is not resting on its laurels. The team has an ambitious roadmap that includes expanding to other social media platforms such as YouTube, TikTok, and Instagram. Additionally, future updates will introduce new features like pet customisation and mini-games, further enriching the user experience. Enhanced integration with additional DeFi protocols will also be a priority, offering users more rewarding and diverse financial opportunities.


Petoshi ICO exemplifies how innovation in DeFi can transform everyday activities into rewarding experiences. By merging the fun of virtual pets with the financial incentives of cryptocurrency, Petoshi offers a unique and engaging platform for social media users. As it prepares for its token launch and subsequent exchange listings, the excitement within the community is palpable. With its innovative features and forward-thinking roadmap, Petoshi is well on its way to becoming a standout project in the DeFi space.


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Source: Petoshi ICO: Gamifying Twitter with Virtual Pets and Crypto
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Forex / AgoraHub Raises $1M, Aims for ...
Last post by PocketOption - Jun 12, 2024, 08:03 am
AgoraHub Raises $1M, Aims for $20M Valuation in GameFi

AgoraHub Raises $1M, Aims for $20M Valuation in GameFi

AgoraHub Raises $1M, Aims for $20M Valuation in GameFi


Quick Look



  • Funding and Valuation: AgoraHub raised $1M in its seed round, aiming for a $20M valuation.

  • Ecosystem Highlights: Central to AgoraHub are the GameFi Hub, AgoraDEX, Loot Box System, and Digital Identity.

  • Tokenomics: AGA token is at $0.08, with public sales targeting over $840K, involving a structured lockup and vesting period.

  • Team and Advisors: Led by CEO Pierre de Viry, with advisors like David Hanson and Anthony Lesoismier-Geniaux.

  • Key Partnerships: Partnership with Ultra enables up to 12,000 transactions per second, enhancing scalability and user experience.


Welcome to the dynamic world of AgoraHub (AGA), a burgeoning force in the decentralised finance (DeFi) landscape, ranked #679. With a commitment to revolutionising GameFi, AgoraHub is setting new benchmarks in the industry. As we dive into the intricacies of this project, we’ll explore its ecosystem, roadmap, tokenomics, funding rounds, and the powerhouse team driving it forward. Let’s embark on this journey to understand how AgoraHub aims to redefine the gaming and financial experience.


Inside Agora Ecosystem: GameFi Hub and AgoraDEX


At the heart of AgoraHub lies its robust ecosystem, a veritable playground for gamers, developers, and investors alike. Central to this ecosystem is the GameFi Hub, a core platform where game distribution and monetisation thrive. Complementing this is the AgoraDEX, a cross-chain decentralised exchange that facilitates seamless token exchanges across various blockchains. Adding a layer of excitement is the Loot Box System, a gamified launchpad offering thrilling rewards to participants. Moreover, the Digital Identity feature ensures secure and personalised user experiences, solidifying AgoraHub’s reputation as a holistic and innovative platform.


Milestones: AgoraHub’s $1M Seed Round, Public Sales Ahead


The roadmap of AgoraHub is a testament to its strategic vision and meticulous planning. Starting from the pre-seed round in Q4 2022, where $500K was raised at a pre-valuation of $4.17M, the project has consistently achieved its milestones. Furthermore, the seed round in Q4 2023 saw an impressive $1M raised, doubling its valuation to $20M. As we stand today, AgoraHub is also gearing up for its public sale phases, with IDOs scheduled on platforms like BullPerks, EnjinStarter, and GameFi. The journey is far from over, with exciting developments planned to expand the platform’s capabilities and reach.


Tokenomics Breakdown: AGA Token at $0.08, Aiming for $840K


The team designed AgoraHub’s tokenomics with precision to ensure long-term sustainability and growth. The AGA token, an integral part of the Agora ecosystem, is trading at $0.08 during the current public sale rounds. Moreover, these rounds include offerings on BullPerks, EnjinStarter, and GameFi, with a collective goal of raising over $840K. The lockup period ensures 25% of the tokens are available at the Token Generation Event (TGE), followed by a one-month cliff and a 12-month linear vesting period. This structure aims to maintain token stability and incentivise long-term participation.


Agora Funding: $1M Seed Round, $350K from IDOs


AgoraHub has navigated its funding journey with remarkable efficiency. The pre-seed round in 2022 raised $500K, setting a strong foundation. The company followed it with the seed round in 2023, which garnered $1M, elevating the project’s valuation. It has also conducted public sales on various platforms, each contributing to the project’s financial fortification. Notably, the IDO on Finceptor raised $250K, while the IDO on Spores brought in $100K. These funding rounds reflect a growing confidence in AgoraHub’s vision and potential within the GameFi space.


Agora Funding: $1M Seed Round, $350K from IDOs


Agora Team: Led by Visionary CEO Pierre de Viry


The driving force behind AgoraHub is a team of seasoned professionals and visionaries. The team's diverse expertise spans blockchain technology, gaming, and finance, ensuring a well-rounded approach to achieving the project’s ambitious goals.


AgoraHub Advisors: David Hanson, Anthony Lesoismier-Geniaux


Advisors play a crucial role in steering AgoraHub towards success. Their insights and guidance are invaluable, drawing from extensive experience in the crypto and gaming industries. The advisory board includes notable figures like David Hanson, Co-CEO at Ultra, who envisions AgoraHub as the GameFi golden standard. Anthony Lesoismier-Geniaux, Co-Founder at SwissBorg, also highlights the platform’s potential to drive crypto mass adoption. These advisors bring a wealth of knowledge, ensuring AgoraHub’s strategies are both innovative and grounded in industry realities.


Public Sales Event: Token Generation from June 11-13, 2024


AgoraHub is buzzing with activity, especially with today’s Token Generation Event and distribution marking a significant milestone. Moreover, the public sale rounds are set to unfold on BullPerks, EnjinStarter, and GameFi, spanning from June 11 to June 13, 2024. These IDOs aim to raise substantial capital, propelling AgoraHub further into the DeFi spotlight. The structured lockup and vesting periods are designed to ensure stability and sustained interest in the AGA token, fostering a robust and engaged community.


Partnership with Ultra: 12,000 Transactions Per Second


A pivotal partnership with Ultra underscores AgoraHub’s commitment to excellence. Ultra, a blockchain designed for Web3 gaming and GameFi ecosystems, offers fee-less transactions and high transaction speeds, processing up to 12,000 transactions per second. This partnership enhances AgoraHub’s scalability and distribution, streamlining game management and marketing. Ultra’s developer tools simplify blockchain integration, while its user experience features reduce barriers to entry, making AgoraHub accessible to a broader audience.


AgoraHub is poised to be a trailblazer in the GameFi space, merging gaming with financial opportunities in a seamless and engaging manner. With a solid ecosystem, strategic roadmap, sound tokenomics, and robust funding, AgoraHub is well-equipped to achieve its ambitious vision. Backed by a talented team and guided by experienced advisors, the project stands ready to make significant strides in the blockchain gaming industry. As the public sales unfold and the platform continues to grow, AgoraHub invites you to join its journey and be a part of shaping the future of Web3 gaming.


The post AgoraHub Raises $1M, Aims for $20M Valuation in GameFi appeared first on FinanceBrokerage.


Source: AgoraHub Raises $1M, Aims for $20M Valuation in GameFi
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