PAID Network is partnering with PlotX, a one-of-a-kind crowdsourced intelligence prediction market for projects that have yet to launch. We’re excited to bring this amazing opportunity to our community!
Prediction markets are speculative investments where participants bet on outcomes of future events. Prediction markets differ from gambling as the outcome depends on information. As such, smart investors will do their research to come out on the right side of the outcome.
In essence, prediction markets serve as aggregators of information, which is why they’re picking up steam with various services like Augur and Polymarkets which are gaining traction.
PAID Network, through Ignition, is the launchpad for multiple, promising new projects. PlotX aims to enhance the IDO experience for all stakeholders by creating prediction markets for these startups pre-launch.
Project Teams: Launching a prediction market ahead of the IDO serves multiple purposes for projects. Not only does it attract many new investors to the project, it also gives the team access to on-chain opinions about their project, helping them chart the most effective strategy for the project. Projects may also integrate PlotX within their dApps to gather crowd intelligence from their community on important decision points.
Investors: Investors can signal their belief in their project publicly without appearing ‘shilly’ — while gathering information about the project they’ve invested in. They can also demystify the potential of multiple IDO markets by getting a real-time evenhanded comparison.
Crypto Media: Crypto media and Key Opinion Leaders (KOLs) can get validated crowd opinion on various IDOs, similar to exit polls for elections. They also get a list of curated upcoming IDOs.
Ish Goel, Founder & CEO of PlotX, on the partnership:
“We are excited to launch pre-IDO prediction markets for IDOs in the PAID Ignition program. These markets help all stakeholders involved in the token launch with crowd intelligence that is otherwise impossible to gather”
Kyle Chasse, CEO of PAID Network, on the partnership:
“I’ve been a big fan of Ish and what PlotX has been building for a long time, we’re extremely aligned — we both like to build and work with great projects that put the customer first. Couldn’t be more pumped for our partnership and what’s to come.”
PAID Network’s partnership with PlotX is set to offer maximum exposure to our community. PAID’s network of over 65,000+ institutional and retail investors, 100+ partners, 50+ top crypto influencers, and more than 35k Community Members can use PlotX today.
PlotX is a cross-chain Prediction Market protocol built by the ex-CTO of Nexus Mutual (>$900m mcap).
Markets are focused on the most exciting crypto-assets like BTC, ETH, MATIC, BNB, DOGE & SHIB and are automatically created in intervals of 1 hour, 1 day, and 1 week.
Dubbed as the Uniswap of Prediction Markets due to its simplicity, PlotX uses an Automated Market-Making algorithm to settle markets and distribute rewards without counterparty risk.
The PlotX v2 Mainnet was launched on the Polygon Network on 14th May with a multitude of interesting features like gasless prediction experience. The v2 app has seen significant traction from crypto traders since launch.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.
For any questions for the PAID network, please feel free to reach out to us on
The recent market fall has led to traders rushing toward sell-offs, even as Bitcoin’s price started to consolidate. The king coin’s downtrend on June 12, which led to an over 6% fall in valuation, was followed by several alts such as Binance Coin, Filecoin, and Tron’s TRX. Breaking through important support levels, these coins also faced rising selling pressure and depleting capital inflows. Their south-bound movement kept them vulnerable to additional losses going forward.
Binance Coin continued on its downtrend. After gaining over 33% just between May 31 and June 2, its valuation fell by 20% during June 7-9. Still trading in the red, the coin was priced at $337.8 at press time. After testing resistance at $365, it had fallen a further 13.2% over the past week.
Relative Strength Index or RSI dipped below the median line on June 10 to 39.8 at press time. If selling pressure continues to mount, the coin could be headed for the oversold zone. As Parabolic SAR’s dotted line hovered above the candlesticks, a downtrend for the price action could be noted.
However, according to Awesome Oscillator’s histogram, bullish momentum could be seen creeping in although it was too early to declare a positive price movement based on the indicator alone.
The support at $304 remained strong and could act as a savior if BNB continues its downward movement.
Filecoin lost 26% of its valuation during the market reduction on June 7. The coin fell through support lines at $84.5 and $75.5 and had since lost further valuation during the price fall on June 11. It was trading at $69 and saw slight gains on the four-hour chart with the emergence of a green candlestick at press time.
Chaikin Money Flow indicated that traders rushed to sell their holdings on June 12, as the capital outflows mounted way over the inflows. Selling pressure also continued to be overpowering, as Relative Strength Index continued to hover over the oversold region since June 8. The convergence of the Bollinger Bands did highlight the reduced volatility of the market and price action could be constricted going forward.
The blockchain network recently hit several milestones. Tron’s daily active users hit an all-time high of 5.26 million, while the total daily transaction count has also hit an all-time high of 6.22 million on Tuesday.
Nevertheless, Bitcoin’s retracement on June 10-11 proved to be detrimental to Tron, which fell by over 12% during this time. The coin broke through its support at $0.069 but found new support at the $0.065 mark, with the former acting as a strong resistance. The 24-hour trading volume for the coin also fell by 31% over the past day.
Bollinger Bands remained diverged during this time, indicating that market volatility was picking up. The appearance of a red line below Awesome Oscillator’s histogram suggested that bullish momentum was starting to surface on the coin’s price action. Moreover, MACD’s histogram closed in one a bullish crossover, even as the lines remained below the equilibrium and moved in alignment with one another.
Since the indicators suggest that bearish momentum is declining, TRX could defend $0.065 support from a breakdown. In case the support is broken, the coin could face a plunge of over 20% towards the next support at $0.055.
Why NFL’s Russell Okung Asked Nigeria To Adopt The Bitcoin Standard
Following El Salvador’s decision to grant Bitcoin the status of legal tender, other government officials in the region have hinted at adopting similar measures. Most of the interest seems to have a source in developing countries. Their populations have been the most benefit from Bitcoin’s open and censorship resistance network. NFL’s professional player Russell Okung […]
Following El Salvador’s decision to grant Bitcoin the status of legal tender, other government officials in the region have hinted at adopting similar measures. Most of the interest seems to have a source in developing countries. Their populations have been the most benefit from Bitcoin’s open and censorship resistance network.
Okung is of Nigerian descendant and is well-known for his pro-BTC stance. He famously used the phrase: “Paid me in Bitcoin”, as a demand to his team’s management. The professional football player has kept an eye on the situation in El Salvador and believes that “soon every nation will be faced with this decision”.
Therefore, Okung argues that it will be more beneficial for the country to be first in Africa to make BTC legal tender. In that way, Nigeria will “will enjoy significant advantages globally for generations to come”.
Similar to El Salvador, Nigeria and other countries in Africa have placed their fate in “the hands of global central bankers”. Okung believes these entities have acted for their own benefit and not those of the Nigerian people.
The NFL’s player emphasizes that the current global economic outlook calls for fast and extreme measures. Other countries, Okung claims, such as Russia, China, Kenya, and Iran use Bitcoin in some form to “circumvent U.S. sanctions” and retake more participation in the global financial system. He adds:
I’m proposing an equally aggressive approach to national Bitcoin adoption which would significantly bolster every sector of the Nigerian economy and revitalize the spirit of every Nigerian domestically and abroad.
What Countries Risk By Not Adopting Bitcoin
Nigeria has a troublesome history with the cryptocurrency. A national ban was imposed in the country, only to be removed after a couple of days when BTC’s price rose 46%. The measure caused people to panic buy BTC to protect their savings, businesses, and hedge against the situation described by Okung.
Data from Statista indicates that around $400 million are traded in cryptocurrencies in this country for 2021 alone. This suggests that the Nigerians have a lot of interest in this asset class.
The African country has seen a wave of massive protest, as a report from The Guardian claims. Nigerians have been celebrating Democracy Day and have mobilized to manifest rejection for their government’s bad governance.
The report claims that Nigeria is one of the most corrupt countries around the globe. Thus, seems logical that their citizen has high Bitcoin adoption levels. At the same time, it seems improbable that government officials will give BTC legal tender status. Still, Okung presented his arguments, he seems to understand the benefits for Nigerians and what truly it’s at stake.
(…) a delay in pursuing a national plan for bitcoin adoption will risk a scenario where Nigeria is left behind and its citizens excluded from the possibility of significant wealth creation and preservation.
At the time of writing, BTC trades at $37,464 with moderate gains in the daily chart. BTC experienced high volatility during the weekend. In order for the bulls to take control, the $40,000 resistance must be flipped into support in the short term.
Bitcoin maximalists are currently gaining from the dropping altcoin market capitalization. Another group in on that is DeFi project traders and HODLers. This weekend, the altcoin market capitalization dropped further. In the past 7 days, the altcoin market capitalization has dropped along with a drop in altcoin prices. BNB, ADA, DOGE, XRP, DOT and CRV have dropped and this has increased the accumulation, investment inflow.
Low marketcap projects have offered high returns over the past 7 days. There are several factors supporting this narrative. Increasing trade volume of DeFi projects has increased in proportion to altcoin market cap. The demand across exchanges has increased and there is an increase in the number of unique wallet addresses and TVL. This may change the narrative of DeFi to bullish.
High market cap projects may lead to the increase in demand and investment inflow proportionate to the interest of their users. The low market cap projects continue to face a correction when traders exit. The drop in altcoin market capitalization has a direct impact on DeFi users.
The diminishing altcoin market capitalization has had a direct impact on the investment inflow, the number of traders and the demand across exchanges. This is bullish for DeFi projects as the rising number of users and the metrics related to number of trades, wallets and users indicate a growing interest, investment, institutional investment inflow and growth in DeFi market capitalization.
With the rise in the number of DeFi projects, there is a surge interest from institutions. With the upcoming biggest smart contract event of the year, it is likely that DeFi projects like UNI, CAKE, SUSHI, AAVE that haven’t rallied in the past 2 weeks would rally following increasing demand and popularity, social media mentions.
When the average price chart of these projects is observed, and they are ranked in accordance to their ranking of growth in Active users, there is a strong correlation between users and market capitalization. AAVE, UNI, SUSHI have ranked the highest. Though ranking does not have a direct correlation with social volume and price, it has increased following drop in altcoin market capitalization. This builds a bullish case for DeFi in the following two weeks.
The Purpose Bitcoin ETF holdings have reached an all-time high of 19,692.149 BTCdespite the current bitcoin market decline.
The dip in the bitcoin market has not scared off Canadian investors. By considering the Purpose Bitcoin ETF re-accumulation, there is an indication that investors are buying the dip. Over the last month, Purpose’s holdings have increased by 963 BTC.
BTC is currently sitting at $36,028, a steep drop from its all-time high of $63,000. However, despite the flash crash, which brought the price down to around $30,000, the ETF has been steadily gaining over time.
Its holdings at the current price amount to around $709 million.
Purpose Bitcoin ETF success
The Purpose Bitcoin ETF launched in February 2021. It is hosted by the Canadian investment company Purpose Investments.
The company won approval for the ETF from Canada’s regulators and continues to be successful. Two days after its launch, the ETF grew its assets under management (AUM) to over $400 million.
This ETF offer investors the chance to invest directly into physically settled ether.
No signs of ETF approval from U.S.
Not only was the bitcoin ETF a first for Canada, but it was also a first for North America. It was hoped that this bold move would encourage its southern neighbor, the United States. However, this was not the case.
The U.S. is still to approve an ETF, despite the multiple applications from various parties. In addition, it appears even the success of the Canadian ETF hasn’t been able to sway regulators.
Most recently, the SEC delayed its decision on VanEck’s latest filing just hours before the deadline. This keeps it in the pile of over a dozen applications that are still in limbo.
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After working in news and lifestyle journalism, Leila decided to bring her interest in cryptocurrencies and blockchain to her day job. She now runs the Features and Opinions desk at BeinCrypto which fits perfectly with her enthusiasm for crypto’s social and political impact.