PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Bybit Learn

Altcoins

Terra 2.0 has finally been launched. Here's everything you would need to know about it including the latest airdrop of LUNA tokens.

With the recent collapse of the Terra platform, many 

 and LUNA classic holders are wondering what's next for the blockchain. Even though only a few weeks have passed since the Terra blockchain collapsed, a new iteration of this blockchain is already set to launch. This version of Terra is referred to as Terra 2.0. Once introduced, the revival of this platform passed with approval of more than 65% of holders. The following guide details everything you need to know about Terra 2.0, and can help you decide whether or not to add the new LUNA coin to your portfolio.

Terra 2.0 is a new version of the Terra classic blockchain. It will include a relaunch of the cryptocurrency known as LUNA. The new LUNA coin will replace the old one, and will be traded via the LUNA ticker.

As touched on previously, Terra 2.0 is essentially a new version of Terra classic that's meant to last. Even though Terraform Labs and Do Kwon aren't set to be a part of Terra 2.0, the company behind Luna and Terra developed a "strong revival plan" that was meant to effectively salvage the entire Terra classic ecosystem by creating the new Terra. This plan was the first to receive the Terra 2.0 moniker.

While there are strong signs that Terra 2.0 won't befall the same fate as its predecessor, cryptocurrency exchanges and tech entrepreneurs are currently divided on the viability of providing support to the Terra 2.0 blockchain.

The plan that Do Kwon and Terraform Labs originally created centered around validating every invalid block as well as the blockchain network transactions, which would allow the new LUNA coin and Terra 2.0 to flourish. This plan was set to occur via a hard fork, which meant that Terra 2.0 wouldn't be directly linked to LUNA classic but would still be part of the same blockchain.

While Do Kwon's proposal was considered, it received very little support. Instead of being based on the original Terra blockchain, Terra 2.0 is tied to an entirely new blockchain, to be referred to as the new Terra. The original LUNA token has switched over to LUNA classic.

If you're thinking about investing in Terra 2.0, keep in mind that the Terra and LUNA coins are considered to be sister coins, which means that maintaining balance between these coins requires users to purchase some Terra before exchanging it for LUNA. This process results in a small amount of profit. 

On May 24, it was announced that the Terra 2.0 testnet was live, which means that all of the mechanics for this new blockchain platform are now locked in. All that's left is for the new LUNA tokens to be airdropped, which is set to occur at different intervals.

The pre-collapse snapshot was taken around May 7, 2022. On the other hand, the post-collapse snapshot occurred 20 days later on May 27. Holders of LUNA before the collapse occurred will receive an airdrop that's close to 1:1 of what they held at the time of the collapse. In comparison, crypto investors who purchased these coins after the collapse are set to receive an airdrop that amounts to a ratio of 1:0.000015 to match the value on May 27.

Multiple Airdrops of New LUNA Tokens Will Occur

The two additional airdrops are meant to compensate TerraUSD holders, which involves paying holders of this stablecoin before it dropped from its peg, as well as the ones who purchased the stablecoin after the peg dropped. UST holders before the crash will receive an airdrop that's valued at 1:0.033. On the other hand, people who purchased the stablecoin after this event will receive Terra 2.0 at 1:0.013.

Let's say that you hold 1,000 UST on May 27. In this situation, you will receive 13 new LUNA tokens via an airdrop. An individual who holds 1,000 LUNA classic tokens on May 27 will receive 0.15 new LUNA tokens. Regardless of the category that an investor was in, they received 30% of their total airdrop upon the launch of Terra 2.0, which was on May 27. The remainder of the airdrops will be vested linearly over a two-year time period, which comes with a cliff of six months.

Keep in mind that this airdrop is occurring in what's known as a "bonded state," which means that transfers won't be available for 21 days after receiving the airdrop. During this three-week period, the airdrop will become unbonded. This type of delay caused many stakers and investors to lose millions when the initial LUNA collapse occurred.

The reason that investors who hold a considerable amount of LUNA will only receive a portion of their Terra 2.0 tokens at launch is to make sure that they don't sell it off immediately. If every notable investor in Terra classic decided to sell their stake after receiving 100% of their airdrop, the new Terra would almost certainly fail. Any investor with more than one million Terra or LUNA classic tokens must wait one year before receiving a portion of their airdrop. The remaining portion will be vested over a four-year period.

What Will Happen to the Old Terra Blockchain?

Both TerraUSD and LUNA classic were native tokens of the initial Terra network, which was a 

project developed by Terra Labs. The goal of this blockchain platform was to provide a peer-to-peer electronic cash system. The two tokens that were available through this blockchain included UST and LUNA. UST was a stablecoin, which allowed it to be pegged directly to the U.S. dollar. This peg meant that UST was supposed to maintain a value that was close to one U.S. dollar. The LUNA coin was an essential component in making sure that UST kept its peg.

The peg was maintained via a standard contract-based algorithm. TerraUSD remained at or near $1 by burning LUNA tokens, which allowed new tokens to be created. On the original Terra platform, users needed to swap LUNA tokens for UST, and UST for LUNA. These trades would occur at a guaranteed $1 price, even if the market price of one token differed at the time of the trade.

Eventually, TerraUSD was no longer able to maintain the peg to the U.S. dollar, which resulted in its value dropping precipitously. However, the precise reason that this stablecoin lost its peg has yet to be discovered. When all of this took place, the algorithm that powered the entire platform attempted to correct the issue by issuing a considerably higher number of LUNA coins than normal.

In fact, total LUNA supply increased from more than 700 million tokens around May 5, 2022 to seven trillion tokens just eight days later. This resulted in LUNA losing upward of 99.9% of its total value. By introducing trillions of new coins to the market, a single coin’s value was eventually reduced to a mere fraction of a cent.

Now that the old LUNA tokens are essentially worthless, they’ve been renamed LUNA classic, and are listed under the LUNC ticker. As for the old Terra blockchain, it’s going to effectively cease to exist. New Terra is an entirely separate blockchain. In regard to the UST stablecoin, this is the one aspect of the Terra blockchain that will disappear completely. Even though new LUNA coins are being issued, the stablecoin won't be.

The first airdrop has already been distributed, and Bybit users will have received their new LUNA in their Spot Accounts. You can also check the Terra 2.0 Phoenix-1 Mainnet on the Terra Station Desktop App to view your wallet balance. 

The viability of the new Terra on the cryptocurrency market remains to be seen. While many platforms have pledged to support the new coin, widespread adoption has yet to fully occur. Since this new platform no longer depends on a stablecoin being pegged to the U.S. dollar, a total collapse may be less likely. As with any crypto investment, conduct extensive research and analysis of recent price trends before going forward with an investment into the new LUNA.

Terra 2.0 looks to be an exciting platform, with the potential for a well-performing future. Nevertheless, keep the previous Terra collapse in mind. The best way to safeguard against substantial crypto losses is by diversifying your portfolio and making sure that you have a mixture of risky and safe crypto investments.

Terra 2.0: What the Future Holds for LUNA

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards