COINOTAG News, May 8th: In a significant development for Ethereum, core developer Tim Beiko has put forth a proposal aimed at refining the Ethereum governance process. The key focus is
Exciting news for innovators building on the Avalanche blockchain! The platform has officially opened applications for the fourth season of Codebase, its dedicated Web3 project incubator. This program has become a vital launchpad for promising ventures within the Avalanche ecosystem, guiding them from concept to market readiness. What is Avalanche Codebase and Why Does it Matter? Codebase isn’t just another program; it’s Avalanche’s official Web3 project incubator. Over the past 18 months, it has evolved significantly, growing into a robust blockchain accelerator that has already supported 25 innovative startups building directly on the Avalanche network. Think of it as a specialized growth program designed to nurture the next generation of decentralized applications and protocols. For anyone looking to launch a crypto startup, navigating the complex landscape of blockchain development, funding, and user acquisition can be challenging. This is where a structured program like Avalanche Codebase proves invaluable. It provides a framework for development, strategic guidance, and access to resources that are difficult for early-stage projects to secure on their own. What Makes Season 4 Unique for Web3 Incubator Participants? Each season of Codebase refines its focus based on the evolving needs of the Web3 space and the projects within the Avalanche Ecosystem . Season 4 places a strong emphasis on go-to-market strategies. This is a critical phase for any startup, especially in the competitive blockchain industry, where getting your product in front of the right users and gaining adoption is paramount. Participants selected for this season can expect a comprehensive support package designed to accelerate their growth: Targeted Mentoring: Gaining insights from experienced mentors who understand the nuances of building on Avalanche and succeeding in Web3. Funding Opportunities: Accessing potential funding pathways to help fuel development and operational costs. Networking: Connecting with other builders, investors, and key players within the Avalanche community and the broader crypto space. Go-to-Market Guidance: Receiving expert assistance in developing and executing effective strategies to launch and scale their projects. This focus on practical execution and market entry distinguishes Season 4, aiming to turn promising ideas into thriving businesses. How Does Codebase Support Your Crypto Startup? Building a Crypto Startup requires more than just technical prowess. It demands a solid business plan, understanding user needs, navigating regulatory considerations, and building a strong community. Codebase addresses these multifaceted requirements head-on. The program acts as a launchpad, providing: Structured curriculum covering various aspects of building a Web3 business. Direct feedback and guidance from the Avalanche team and industry experts. Exposure within the Avalanche community, helping projects find early users and advocates. Potential follow-on investment opportunities upon successful completion of the program. For founders, this means less time figuring things out alone and more time building and executing with informed support. Why Build on Avalanche? The Blockchain Accelerator Advantage Codebase is specifically designed for projects building on Avalanche. This isn’t just a platform choice; it’s a strategic decision that comes with inherent advantages amplified by the accelerator program. Avalanche is known for its high throughput, low transaction costs, and near-instant finality, making it an attractive platform for a wide range of decentralized applications, from DeFi and NFTs to gaming and enterprise solutions. Participating in Codebase means leveraging these technical benefits while also integrating deeply into the platform’s developer and user community. It’s a tailored Blockchain Accelerator experience that is optimized for the specific environment and opportunities present on Avalanche. Looking Ahead: The Impact of Avalanche Codebase With 25 projects already supported, Codebase has a track record of fostering innovation. As Season 4 kicks off with its sharpened focus on go-to-market strategies, the program is poised to contribute even more significantly to the growth and diversity of the Avalanche ecosystem. Successful projects emerging from Codebase not only add value to the network but also serve as examples of what’s possible when innovation meets dedicated support. For aspiring Web3 founders, Codebase represents a significant opportunity to gain traction, secure resources, and navigate the path to success within one of the leading blockchain platforms. Ready to Launch Your Web3 Dream? Applications for Avalanche Codebase Season 4 are currently open. If you’re building an innovative project on Avalanche and are looking for the support needed to move from development to widespread adoption, exploring this opportunity could be your next crucial step. The program seeks ambitious teams ready to leverage the resources and expertise offered to make a tangible impact in the Web3 space. In conclusion, Avalanche Codebase Season 4 is a clear signal of Avalanche’s commitment to fostering growth and innovation within its ecosystem. By providing targeted support, funding opportunities, and focusing on the critical go-to-market phase, the program is set to empower the next wave of successful Web3 projects building on the platform. To learn more about the latest altcoin trends, explore our article on key developments shaping the blockchain ecosystem.
The recent launch of Yua Mikami’s meme coin, MIKAMI, has highlighted the volatile nature of cryptocurrency markets as its value plummeted over 80% within hours. This dramatic decline left pre-sale
Revolut is stepping up its crypto game by partnering with Lightspark to bring the Lightning Network to Bitcoin payments. This upgrade allows users in the UK and parts of the European Economic Area to send BTC almost instantly and with minimal fees. By using Lightspark’s high-performance infrastructure , Revolut can now offer quicker and cheaper crypto transactions, moving beyond simple trading and custody. Emil Urmanshin, head of crypto at Revolut, called the integration a key move toward making global payments more efficient. The Lightning Network, built on top of Bitcoin’s blockchain, is known for improving speed and lowering costs. With this partnership, Revolut joins other fintech leaders exploring decentralized tech for real-world use . Lightspark CEO David Marcus applauded the collaboration, saying it brings modern finance one step closer to a seamless global money system. He compared old banking systems to "dial-up" in a 5G world. Lightspark also brings UMA (Universal Money Address) support—letting users send money with simple, email-style addresses. For now, Lightning payments will roll out to UK and selected EEA users, with more regions expected to follow as systems mature. This move underlines Revolut’s push to become a go-to platform for fast, crypto-enabled money transfers .
Crypto.com exchange, a top global regulated crypto exchange licensed by UAE’s VARA (Dubai Virtual Asset Regulatory Authority) has teamed up with UAE Emarat Energy company, which operates over 155 gas stations across the UAE, to offer crypto payment options. As per the LinkedIn post, the expansion depends on regulatory approvals and customer demand, with the set up of crypto fuel stations signaling a shift towards more utility for crypto in the UAE. “Further enabling the utility of cryptocurrency is central to our vision at Crypto.com,” said Mohammed al Hakim, President of Crypto.com UAE. “The UAE is a cryptocurrency market leader, and we are excited to partner with Emarat, the region’s leading petroleum brand and serving tens of thousands of customers every day, in bringing digital assets into its next era.” As per the announcement, Emarat hopes to modernize its retail model and appeal to tech-savvy consumers. It also aims to boost its image among digitally aware customers. The partnership will see Crypto.com integrated at an initial 10 service stations, with plans to progressively expand the integration across the Emarat service station network. Crypto.com and Emarat will launch the Crypto.com service station Through Project Landmark, the first project providing naming rights for fuel stations in the world by Emarat, Crypto.com and Emarat will unveil the Crypto.com Emarat Service Station at Emarat’s Al Ameen Station in Al Wasl Road, a signature service station branded by Crypto.com and supported by the Crypto.com integration. Ali Bin Zayed Al Falasi, Chief Retail Officer & Senior Vice President—Marketing at Emarat, said: “At Emarat, we are constantly exploring new frontiers in innovation and customer experience. This partnership with Crypto.com introduces a new era of convenience and possibility for our customers, while strengthening our position as a future-focused brand. Together, we’re bridging the gap between energy retail and emerging financial ecosystems.” Crypto.com users and Emarat customers will be able to enjoy additional benefits of the partnership, having exclusive offers and a mutual promotional program to uplift customers’ experience. More and more retail entities across the UAE are partnering with regulated crypto service providers to offer stablecoin payments, better integration with UAE banking sector, and better investment opportunities. Recently UAE MGX sovereign wealth fund invested $2 billion in Binance using a stablecoin, while Trump’s Tower project will allow purchases to be made in crypto. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Bitcoin's market dominance approaches a critical threshold of 71%. Ethereum's market dominance declines while Bitcoin's dominance rises. Continue Reading: Bitcoin Commands Market with Unprecedented Dominance Signs The post Bitcoin Commands Market with Unprecedented Dominance Signs appeared first on COINTURK NEWS .
Market sees massive inflow of purchasing power as Bitcoin is close to $100,000
Edwin Rojas Ulo, president of the Central Bank of Bolivia, stated that the institution is currently consulting with international organizations regarding the design of a currency referred to as the “virtual boliviano,” which would facilitate international settlements. Central Bank of Bolivia to Launch Digital Currency With International Settlements in Mind Bolivia, which initially banned the
As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance. However, some analysts suggest that bulls need to take action or a 15% drop could be in the horizon. Related Reading: Injective (INJ) Gearing Up For $10 Level Retest – Is A Bullish Reversal Ahead? Ethereum Eyes Breakout To $2,100 After successfully holding the $1,750 level as support, Ethereum has reclaimed the key $1,800 resistance. The cryptocurrency has recovered nearly 20% over the past two weeks, hitting a one-month high of $1,873 at the start of May. ETH currently registers a 1.92% increase from its monthly opening following its negative 1.95% April. Notably, the King of Altcoins could end a five-month red streak if it continues trading above the $1,807 mark in the coming weeks. Amid the Tuesday correction, Ethereum retested the $1,750 level before jumping back above the $1,800 mark. Analyst Michaël van de Poppe noted that ETH is holding the recently reclaimed resistance and starting to bounce to confirm as support again, indicating buying pressure. As a result, the analyst considers that investors are “about to witness a big breakout” to the $2,100 barrier in the coming 1-2 weeks. Reclaiming this level is key for Ethereum, as it was a key resistance ahead of its Q4 2023 breakout and served as a key support zone during the 2024 and early 2025 rally. Analyst World of Charts highlighted that ETH has been moving sideways between the $1,750-$1,870 price range after breaking out from its downtrend in late-April. And it “seems like building up for solid breakout” from its consolidation zone. Per the post, a breakout from this range and confirmation of the level as support could send the cryptocurrency toward the $2,500 level, lost in February. ETH’s Price Risks Another Correction Market watcher Daan Crypto Trades pointed out that “bulls would want to get a move going soon,” despite ETH’s price holding above the $1,750 support. The trader suggested that the altcoin could not stand another retest of this range, and if the level doesn’t hold, a 15% drop could be likely. “if that level gives in, it can be pretty easy to see how it just “Bart moves” back down to the $1500s,” Daan detailed, warning that ETH could risk a new low if it falls below this level. Related Reading: SUI Breakout To $4 Imminent? Analyst Says A Correction To This Level Could Come First Nonetheless, he concluded that it is “still fine as long as it trades where it does but be careful if we’d see a move & close below $1750.” Crypto Amsterdam also suggested that ETH could dive toward the $1,500 mark. According to the chart, if Ethereum is rejected again from the current levels, it could retrace toward the mid-April levels, between $1,550-$1,650, before bouncing toward its range high above the $1,900 mark. As of this writing, Ethereum trades at $1,811, a 1% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
In a significant development signaling growing interest in digital assets at the state level, Arizona Governor Katie Hobbs has signed into law a bill creating a State Digital Asset Reserve Fund . This move positions Arizona as a forward-thinking state actively engaging with the cryptocurrency landscape, specifically addressing how to manage and potentially benefit from digital assets. Understanding the Arizona Bitcoin Law: What HB2749 Means The passage of HB2749 marks a pivotal moment in Arizona Crypto Legislation . At its core, the law establishes a framework for the state to handle digital assets, particularly those deemed unclaimed. It sets up the mechanism for a dedicated fund – the Bitcoin and Digital Assets Reserve Fund – where assets can be held, managed, and potentially grow, albeit with strict controls. Here’s a breakdown of the key aspects introduced by the Arizona Bitcoin Law : Creation of the Reserve Fund: A specific fund is created within the state treasury to hold digital assets. Management of Unclaimed Property: Procedures are outlined for identifying and handling virtual property that has been abandoned by its owner. State Custodianship: The law designates state entities, primarily the Department of Revenue, as custodians for these unclaimed assets. Asset Management Capabilities: Custodians are granted the ability to engage in activities like depositing assets to earn rewards (such as staking or lending) or receiving airdrops. Fund Allocation: Any proceeds generated from these activities are directed into the Bitcoin and Digital Assets Reserve Fund. Legislative Oversight: The assets and funds are subject to appropriation by the state legislature, ensuring accountability and control over their use. How Unclaimed Crypto Arizona Will Be Handled One of the most practical elements of this legislation is its focus on Unclaimed Crypto Arizona . Digital assets, much like traditional financial assets, can become separated from their owners due to lost private keys, forgotten passwords, or lack of activity over extended periods. Arizona’s new law provides a clear path for the state to manage these situations. Under the law, a digital asset is considered abandoned if the owner has not initiated a transaction or communicated with the custodian holding the asset for a period of three years. This three-year dormancy period is a standard timeframe often seen in traditional unclaimed property laws. Once an asset is identified as abandoned, the custodian (e.g., a cryptocurrency exchange or wallet service) is required to transfer it to the Arizona Department of Revenue. This process ensures that valuable digital assets don’t simply remain inaccessible but are brought under state management for the potential benefit of the public. The State as a Digital Asset Manager: Earning Rewards and Airdrops Perhaps one of the more intriguing aspects of this Arizona Crypto Legislation is the provision allowing state custodians to actively manage the digital assets transferred to them. The law explicitly permits depositing these assets to earn rewards or receive airdrops. This suggests an understanding by lawmakers that digital assets can be dynamic and generate returns through mechanisms unique to the blockchain space. For example: Earning Rewards: This could involve staking proof-of-stake cryptocurrencies to validate transactions and earn network rewards, or potentially participating in decentralized finance (DeFi) protocols for lending or yield farming, though the specific types of approved activities would likely be subject to strict guidelines and future regulations. Receiving Airdrops: New tokens are sometimes distributed for free to holders of existing cryptocurrencies. The state would be eligible to receive these distributions for the assets under its custody. Any value generated through these activities, whether earned rewards or received airdrops, is directed into the newly established State Digital Asset Reserve Fund. This mechanism allows the state to potentially grow the value of the fund beyond just the principal amount of the unclaimed assets. The Purpose of the State Digital Asset Reserve Fund The primary purpose of the Bitcoin and Digital Assets Reserve Fund is to hold the proceeds derived from the unclaimed digital assets and their management. Unlike some proposals that might involve the state directly investing taxpayer funds into volatile cryptocurrencies, Arizona’s law focuses on assets that have already been deemed abandoned. Funds accumulated in the reserve are subject to legislative appropriation. This means the state legislature will decide how and when these funds can be used. Potential uses could include: Funding state services Investing in technology initiatives Returning funds to rightful owners if they come forward (though this process for digital assets would also need clear guidelines) The requirement for legislative appropriation adds a layer of governance and control, ensuring that the management and use of these digital assets are transparent and accountable. Arizona Joins the Trend: Government Bitcoin Adoption Arizona’s decision is part of a broader, albeit slow, trend of Government Bitcoin Adoption and engagement with digital assets at the state and municipal levels across the United States. States are exploring various ways to interact with this emerging technology, from accepting crypto for tax payments to studying blockchain for record-keeping. The news release announcing the signing of HB2749 highlighted a similar recent action in New Hampshire. While both states are venturing into the digital asset space, their approaches differ significantly. Arizona’s Approach: Focuses on managing Unclaimed Crypto Arizona and channeling the proceeds into a reserve fund for future legislative use. New Hampshire’s Approach: A recently signed law allows the state treasury to potentially invest state funds directly into Bitcoin and other digital assets. This represents a more direct exposure to market volatility compared to Arizona’s focus on unclaimed property proceeds. This comparison underscores the diverse strategies states are considering as they navigate the legal and financial implications of digital assets. Arizona’s method appears to be a more cautious first step, focusing on assets already within the state’s potential purview (as unclaimed property) rather than initiating new market investments with taxpayer money. Potential Benefits of This Arizona Crypto Legislation What could be the positive outcomes of the Arizona Bitcoin Law and the creation of the State Digital Asset Reserve ? Revenue Generation: Over time, the unclaimed digital assets and the yield generated from their management could provide a new, albeit potentially volatile, revenue stream for the state. Legal Clarity: The law provides much-needed legal clarity on how digital assets are treated under unclaimed property laws in Arizona, which is beneficial for custodians, owners, and the state alike. Signaling Innovation: By establishing a framework for managing digital assets, Arizona signals its willingness to engage with emerging financial technologies, potentially attracting blockchain businesses and talent to the state. Setting a Precedent: Arizona’s model for handling unclaimed digital property could serve as a template for other states grappling with similar issues. Challenges and Considerations While the move is seen as pioneering, there are also challenges and considerations associated with the State Digital Asset Reserve : Market Volatility: The value of Bitcoin and other digital assets can fluctuate dramatically. The value of the reserve fund will be directly impacted by these market movements. Security Risks: The state will need robust security measures to custody digital assets safely and prevent loss due to hacks, technical failures, or mismanagement. Technical Complexity: Managing a diverse range of digital assets, potentially across different blockchains and protocols, requires significant technical expertise. Regulatory Uncertainty: The regulatory landscape for digital assets at both federal and state levels is still evolving, which could impact the state’s ability to manage the fund or the assets within it. Public Perception: There may be public debate or concern regarding the state holding or managing volatile assets, even if they originate from unclaimed property. Addressing these challenges will be crucial for the successful implementation and management of the reserve fund. What This Means for Arizonans and the Crypto Community For individuals holding digital assets in Arizona, this law clarifies the state’s position on unclaimed virtual property. It’s a reminder of the importance of maintaining access to your digital wallets and accounts and ensuring your heirs are aware of your digital asset holdings. For the broader crypto community, Arizona’s action, alongside states like New Hampshire, demonstrates the increasing recognition of digital assets within traditional legal and financial systems. It highlights the ongoing trend of Government Bitcoin Adoption in various forms. The Road Ahead for Arizona’s Digital Assets Reserve The signing of HB2749 is just the beginning. The state will now need to develop detailed regulations and procedures for identifying, valuing, securing, and managing the unclaimed digital assets. The legislature will also need to determine how the funds in the reserve will ultimately be used. The success and impact of Arizona’s State Digital Asset Reserve will depend on careful implementation, robust security, and prudent management in a rapidly evolving technological and market environment. Summary: Arizona’s Pioneering Step into Digital Assets Arizona has taken a significant step by enacting the Arizona Bitcoin Law , establishing a framework for handling Unclaimed Crypto Arizona and creating a State Digital Asset Reserve Fund. This legislation provides legal clarity, outlines procedures for managing abandoned virtual property, and allows the state to potentially generate revenue from these assets through activities like earning rewards and receiving airdrops. While challenges related to volatility and security remain, Arizona’s move is a notable example of evolving Government Bitcoin Adoption and Arizona Crypto Legislation , positioning the state at the forefront of addressing digital assets within traditional state financial structures, albeit through a cautious approach focused on unclaimed property. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption.