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The First DeFi & NFT Social Media Project, Torum Announces NFT Launchpad

Torum NFT Launchpad

Bitcoin Press Release: Torum prepares to launch an NFT launchpad from its unique DeFi & NFT-infused social media platform, following successive fundraising achievements.    9th June, 2021, Kuala Lumpur, Malaysia— Torum, the first DeFi, and NFT-infused crypto social media platform is now going to launch an NFT launchpad that is designed with cross-chain interoperability. The integration of […]

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Bitcoin Press Release: Torum prepares to launch an NFT launchpad from its unique DeFi & NFT-infused social media platform, following successive fundraising achievements. 

9th June, 2021, Kuala Lumpur, Malaysia Torum, the first DeFi, and NFT-infused crypto social media platform is now going to launch an NFT launchpad that is designed with cross-chain interoperability. The integration of the NFT feature will enable projects to raise funds from a community of over 56,000 cryptocurrency users and investors.

Introducing Torum NFT Launchpad

Torum NFT Launchpad is developed on Torum’s DeFi staking platform, Torum Finance that offers any issuing projects to launch NFTs with different rarity and total supply and also the burning period of the NFTs. There are two types of public launches with different criteria and gamification options available to choose from on the launchpad.

The first option is a dual token launch which gives NFT holders the vested right to burn the NFTs and receive the native tokens of both the issuing project and Torum in return. This launch creates a mutually beneficial result where NFT owners will receive two types of tokens, while the issuing projects can enjoy a higher public sale completion rate from both Torum and its community.

The second option is a single token launch which gives NFT holders the vested right to burn the NFTs to receive the issuing project’s native tokens in return. Other details such as whitelisting, token release rules, and buying limit per participant, will depend on the issuing projects but will offer such projects immense flexibility to make their first debut on the Torum NFT Launchpad.

Why choose Torum NFT Launchpad?

Unique from other NFT launchpads in the industry, launching on Torum will provide 5 exclusive benefits to projects, including:

  • An active community with over 56,000 cryptocurrency investors
  • Multi-chain support for public launch in the future (BSC & HECO)
  • Available listing on NFT marketplace that supports ERC-721 assets, including Torum’s upcoming NFT marketplace
  • A premium opportunity to sell the tokens to the loyal community at a price lower than the price of IDO and CEX / DEX listing
  • Resource and brand integrations, including VCs and strategic crypto communities

The process does not stop when the Initial NFT Offering is completed, as projects can leverage the premium advantages of Torum, as a social media platform to continue strengthening their community-building effort and post-launch marketing activities.

Recent Project Achievements

Torum has successfully completed three separate fundraising goals over the last three months. The project completed a $500,000 presale with zero marketing presence in March 2021, raised a $1.5M private round from AU21, Consensus Lab, DFG, M6, and 16 other prominent VCs in April 2021, and successfully sold off $243,000 INO in under 20 minutes in May 2021.

In terms of development, the innovation of the team behind Torum has enabled the project to become the first to ever combine DeFi, NFT, and social media. By having a social media platform with over 56,000 cryptocurrency enthusiasts, Torum will be developing a BSC-based NFT marketplace and a DeFi staking platform to build a one-stop ecosystem that is specially designed for the crypto space.

Mobile App Launch & NFT Ecosystem

The Torum Android mobile app launch is expected by mid-June, while the NFT marketplace will be launched by around July. Meanwhile, Torum will be integrating the HECO chain and other mainstream public chain support into the Torum NFT Marketplace to develop the largest multi-chain NFT marketplace in the industry.

The continuous expansion of blockchain innovations will help Torum remain focused in the pursuit of its long-term vision of becoming the largest crypto ecosystem that connects the general mass to the crypto space.

About Torum

Torum is the world’s first DeFi + NFT social media platform that is specially designed for cryptocurrency users. Backed by AU21, Consensus Lab, DFG, M6, Waterdrip Capital, and 15 other prominent VCs, Torum is now one of the fastest-growing social media platforms with over 56,000 registered users with a consistent 20 – 30% monthly user growth rate.

Torum Socials

Website | Twitter | Telegram | Medium | Facebook

Media Contact Details

Contact Name: Jayson Tan

Contact Email: [email protected]

Torum is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 

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Source: https://bitcoinprbuzz.com/the-first-defi-nft-social-media-project-torum-announces-nft-launchpad/

Blockchain

Thailand Bans Meme Coins and NFT Trading in New Regulation

The Securities and Exchange Commission (SEC) of Thailand has announced banning meme, exchange-issued, and non-fungible tokens or NFT.

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The Securities and Exchange Commission (SEC) of Thailand and its Board of Directors have approved new rules governing digital asset platforms. From now on, crypto exchanges can no longer trade meme-based tokens, non-fungible tokens (NFTs), and exchange-issued tokens in the country.

Thailand Bans NFT, Digital Exchange, & Meme Tokens Trading

Thailand’s Securities and Exchange Commission (SEC) has announced banning meme tokens, exchange-issued tokens, and non-fungible tokens (NFTs). Last week, crypto exchanges were ordered to delist the coins, along with NFTs, utility tokens, and social tokens, within 30 days.

Per the SEC, “This new regulatory guideline aims to enhance protection of digital asset traders’ interest.”

Even though, the regulatory agency did not specify the exact coins, meme-based cryptocurrencies, like Dogecoin (DOGE) and Shiba Inu coin (SHIB) are likely to be affected.

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The Thai SEC defines meme tokens as those which have “no clear objective or substance or underlying (value),” and whose price relies on social media trends.

According to the SEC, the new rules are aimed at protecting traders from tokens that have “no clear objective or substance” and whose prices are influenced by social media trends and influencers.

The ban also prohibits exchanges from listing non-fungible tokens. Notably, the SEC is not banning the issuance of NFTs but only banning the trading of these digital assets.

In addition, the Thai SEC also announced banning exchange tokens issued by crypto exchanges that cut transaction fees for those who hold them,

Exchanges Have 30 Days to comply With the New Regulation

The exchanges are required to comply and revise their listing rules in accordance with the Notification within 30 days from the effective date thereof.

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The regulators warned that token issuers failing to comply with their white papers and relevant rules risk having their tokens delisted from the exchange, noting that “After publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect.”

Earlier this month, the SEC announced its intentions to further regulate crypto by stating  “The issuance of digital tokens must be authorized and overseen by the Securities and Exchange Commission.”

#Cryptocurrency Regulation #MEME Tokens #NFT #Thailand SEC

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Source: https://www.cryptoknowmics.com/news/thailand-bans-meme-coins-and-nft-trading-in-new-regulation

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Bitcoin price bottom is in, says Fidelity exec as crypto market exits ‘extreme fear’

Macro comparisons suggest that there’s no more room for dips on BTC/USD, suggests Jurrien Timmer.

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Bitcoin (BTC) has already hit its price bottom, one of the industry’s top executives believes as BTC price action stays above $40,000.

In a tweet on June 14, Jurrien Timmer, director of global macro at U.S. multinational financial services corporation Fidelity Investments, called time on any further Bitcoin price dips.

Bitcoin bulls increase confidence

BTC/USD maintained higher levels overnight on Monday after surging through $40,000 resistance. Despite not yet fulfilling traders’ predictions of a $47,000 push, the mood has become broadly positive on the back of fresh high-profile praise from the likes of Elon Musk and Paul Tudor Jones.

For Timmer, the time has come to look higher, not lower, when it comes to charting Bitcoin’s next move.

“In my view, it looks like the bottom is in,” he summarized.

Timmer uploaded a chart comparing BTC/USD with the GS Retail favorites basket, a relationship which highlights similar local bottom formations.

GS Retail favorites basket vs. BTC/USD chart. Source: Jurrien Timmer/ Twitter

Fidelity has increased its Bitcoin activities in recent times, releasing a dedicated analytics platform and even applying to launch an exchange-traded fund (ETF). U.S. regulators began scrutinizing the application in late May.

Fear & Greed ditches the emotion

Meanwhile, another aspect of cryptocurrency which is back near 40 is the Crypto Fear & Greed Index — a classic sentiment gauge adding to the bullish mood.

Related: A Bitcoin indicator with a ‘perfect’ history just told you to buy the dip

After hitting its lowest in more than a year in recent week, Fear & Greed has rebounded to 38/100 — approaching neutral territory.

The Index uses a basket of sentiment measures to determine whether traders are overly bullish or bearish at a certain price, and therefore whether tokens are oversold or conversely due for a sell-off.

Crypto Fear & Greed Index as of June 15. Source: Alternative.me

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Source: https://cointelegraph.com/news/bitcoin-price-bottom-is-in-says-fidelity-exec-as-crypto-market-exits-extreme-fear

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Blockchain

Cryptocurrency Market Drops 4% in 7 Days as Bitcoin Surges 8%

In the past 7 days, the entire digital currency market managed to dip from $1.662 trillion to $1.603T, indicating a sharp fall of about 4.06%. The 7d prices of all the top 5 out of 50 tokens in the world are trading in the red. Nevertheless, the largest coin by market cap managed to surge by about 8% in one week.

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Jun 15, 2021 at 08:28 // News

Some coins faced the roughness of the market

In the past 7 days, the entire digital currency market managed to dip from $1.662 trillion to $1.603T, indicating a sharp fall of about 4.06%. The 7d prices of all the top 5 out of 50 tokens in the world are trading in the red. Nevertheless, the largest coin by market cap managed to surge by about 8% in one week.

In the last month (since May 12), the entire cryptocurrency market capitalisation has lost by over $943 billion, representing a decline of over 37%, meaning that the market needs to multiply by about 1.6 times if it is to match the figures it recorded 30 days ago. According to the data by TradingView, the entire market cap is standing at about $1.599T, which simply shows that the crypto market is in complete turmoil.

Screenshot_2021-06-14_at_14-01-38_TOTAL_Index_Charts_and_Quotes_—_TradingView.png

For the last 7 days, some upcoming coins faced the roughness of the market. For example, the price of FinNexus (FNX, price of $0.06964, 24h volume of $655,535) dropped by over 93%, Kingdom Game 4.0 (KDG, $0.002982, $313,922) touched the ground by 90%, TriumphX (TRIX, $0.009026, $293,076) plummeted by about 79.3%, Crypto Village Accelerator (CVA, $0.0000001056, $85,755) declined by over 70.84% and LunaDoge (LOGE, <$0.00000001, $64,543) dived by over 65%, and many others.

Screenshot_2021-06-14_at_14-03-04_FinNexus_price_today,_FNX_live_marketcap,_chart,_and_info_CoinMarketCap.png

However, not all tokens performed bearishly in the market. We have seen cryptocurrencies that have gained dramatically. For instance, Amun Ether 3x Daily Short (ETH3S, price of $0.1142, 24h volume of $7,903,489) surged by over 532%, Litecash (CASH, $0.01684, $128,576) gained by over 214%, Save Planet Earth (SPE, $0.0000000684, $1,352,242) soared by over 212%, Aerdrop (AER, $0.000003795, $72,223) increased by over 202% and Streamr (DATA, $0.1905, $216,110,546) gained by more than 144%.

Screenshot_2021-06-14_at_13-57-49_Amun_Ether_3x_Daily_Short_price_today,_ETH3S_live_marketcap,_chart,_and_info_CoinMarketCap.png

Among the top 50 cryptocurrencies by market cap, it’s only the 7-day prices of Bitcoin (BTC), Wrapped Bitcoin (WBTC), Amp (AMP), Theta Fuel (TFUEL), UNUS SED LEO (LEO) and TerraUSD (UST) that are trading in green. The rest are facing it hot.

Screenshot_2021-06-14_at_13-54-47_Cryptocurrency_Prices,_Charts_And_Market_Capitalizations_CoinMarketCap.png

Top gainers and losers of the week

The 7d biggest gainer and loser among the top 50 coins is Amp and Bitcoin BEP2, respectively.

At press time, the price of Amp (AMP), the crypto in Rank #39 by MC, is sitting at about $0.06561 with a 7d gain of 41.47%, with a market cap of 2.77B and 24h volume of $43,431,341.

Screenshot_2021-06-14_at_13-52-54_Amp_price_today,_AMP_live_marketcap,_chart,_and_info_CoinMarketCap.png

Also, the current price of Bitcoin BEP2 (BTCB), the crypto in Rank #38 by MC, is sitting at nearly $0.1501 with a 7d drop of 100%, with a market cap of $10,977 and 24h volume of $5,772,632 (-19.27%).

Screenshot_2021-06-14_at_13-50-30_Bitcoin_BEP2_price_today,_BTCB_live_marketcap,_chart,_and_info_CoinMarketCap.png

The major reason why the prices of cryptocurrencies including Bitcoin are turbulently falling is because of the decision by social media platforms, China and Iran to ban cryptocurrency ads, mining and trading, and to no longer accept BTC as payment for its e-cars. Following the shock statement from Elon Musk, CEO of Tesla saying that Bitcoin and crypto mining is not environmentally friendly, there was an immediate visible impact on BTC’s value where it shrank by $6B and sent agitating shockwaves throughout the entire crypto asset market, and since then the market has never stabilized again. 

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Source: https://coinidol.com/cryptocurrency-market-lost-4/

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Bitcoin investors more bullish than ever despite 50% price crash: survey

A survey reveals investors are still bullish on Bitcoin and other cryptocurrencies despite the recent market drop.

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Despite Bitcoin (BTC) and the wider cryptocurrency market experiencing one of its worst crashes in recent memory, investors are apparently more bullish than ever regarding the future fortunes of Bitcoin and a host of altcoins.

That’s according to the results of a Q2 retail investment survey conducted by crypto firm Voyager Digital, which polled 3,671 high-frequency traders on the Voyager platform.

The survey’s findings revealed that 81% of respondents are more confident in the future of cryptocurrency, even after the violent price crash in April and May, which saw Bitcoin and others lose more than 50% of their value.

Many coins have since recovered significantly, although the market still remains uncertain. Despite this, 87% of the survey’s respondents said they planned to increase their crypto holdings over the next quarter — an increase on the 80% who said the same in Q1.

Some 39% of respondents said they expected the Bitcoin price to fall between $56,000 and $70,000 by the end of Q3 2021, while 28% predicted a Bitcoin price between $41,000 and $55,000. The percentage of respondents who believed Bitcoin would reach a price of $71,000 stood at 18%, down from the previous survey’s figure of 20%.

Notably, more than nine out of 10 of those polled said they thought the United States Securities and Exchange Commission would eventually approve a Bitcoin ETF — an exchange-traded fund that crypto proponents believe will boost the value of Bitcoin through exposing it to institutional investment.

Among the altcoins that respondents said they were most bullish on, Cardano (ADA) turned out to be the most popular. Some 55% said they were bullish on Cardano above any other altcoin, with Dogecoin (DOGE) coming in second (11%), followed by Chainlink (LINK) (6%) and Polkadot (DOT) (6%).

Voyager Digital CEO Steve Ehrlich said it was encouraging to see continued faith in the cryptocurrency market despite the recent crash. Ehrlich suggested the results of the survey indicate that most investors view the recent market dip as a buying opportunity, rather than a portent of worse to come.

“The fact that the vast majority of our large sample size of investors are more confident in the future of cryptocurrency, shows how people see May’s volatility in many crypto-assets as a buying opportunity,” said Ehrlich.

“Our findings show that 87% of investors are looking to increase their crypto holdings in the next quarter, a much higher percentage compared to the last survey we conducted in April,” he added.

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Source: https://cointelegraph.com/news/bitcoin-investors-more-bullish-than-ever-despite-50-price-crash-survey

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