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

Bitcoin

Crypto

The BlackRock Bitcoin ETF gives investors direct exposure and claim to actual Bitcoin, instead of Bitcoin derivatives. Learn more about it here.

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In 2017, BlackRock CEO Larry Fink called Bitcoin an “index of money laundering.” Fast forward to today and the narrative has dramatically evolved. The recent appearance of BlackRock's Bitcoin spot ETF (ticker name: IBTC) on the Depository Trust & Clearing Corporation (

) website has created significant ripples in the financial world. As a result, the buzz around Bitcoin's price surge can be attributed to BlackRock's progressive stance on Bitcoin. Such a move by a colossal asset manager like BlackRock signals bullish sentiment around Bitcoin, and is a testament to the growing mainstream acceptance of cryptocurrencies.

Is this groundbreaking move toward bridging traditional finance and crypto beneficial for crypto, or detrimental? In this article, we’ll delve into the prospective IBTC, exploring its potential impact on the crypto market and how it differs from other Bitcoin ETFs.

 that track the price of Bitcoin and are available for trade on traditional exchanges. They’re typically seen as alternatives for those afraid to dabble in cryptocurrencies, since they reduce the need for investors to deal with storage and security issues that arise with Bitcoin ownership. If launched, IBTC by BlackRock would provide a more direct and secure way for investors to gain exposure to Bitcoin.

Despite previously making headlines with its application for a Bitcoin ETF and signaling its entrance into the world of digital assets, BlackRock has always been a force to reckon with in the world of traditional finance. When it comes to asset management companies, BlackRock is one of the world's largest, thanks to its trillions of dollars in assets under management (AUM). With the potential launch of IBTC, BlackRock could further solidify its position as a pivotal player in cryptocurrency investments.

Founded in 1988, the company provides a range of services and products to fund investors, pension funds, governments, corporations and financial institutions around the world. With its massive size and presence in traditional finance, BlackRock has an opportunity to become one of the most influential players in cryptocurrency investing with this Bitcoin ETF.

What Is the BlackRock Bitcoin ETF (IBTC)?

Like its competition, the BlackRock Bitcoin ETF (IBTC) aims to track the price of the coveted cryptocurrency. However, what makes BlackRock's Bitcoin ETF special is that it's a spot ETF. This means investors purchasing the BlackRock Bitcoin ETF will finally have direct exposure and claim to actual Bitcoin, instead of Bitcoin derivatives, such as futures or swaps.

Before diving into specifics, it’s key to understand how spot ETFs work. In order for a spot ETF to function, it must physically own and be backed by its underlying asset. In the case of a Bitcoin spot ETF, this means the institution offering Bitcoin must own the equivalent amount of Bitcoin and keep it in reserve to represent each share of publicly traded BlackRock Bitcoin ETF.

Recently, the crypto community was abuzz when the 

 on the DTCC website. This listing stirred excitement and speculation among investors about the imminent approval and launch of the spot ETF. However, it's essential to note that the ETF has not yet been officially launched. The listing of IBTC on the DTCC website served as a notable signal, sparking intense market speculation about its imminent approval.

How the BlackRock Bitcoin Spot ETF Will Work

In establishing its Bitcoin spot ETF, BlackRock will first set up custodian accounts with banks and other financial institutions that will hold the underlying Bitcoin for investors. These custodians will be responsible for managing, storing and safeguarding the assets of the fund on behalf of its investors. 

In this way, BlackRock will give investors access to Bitcoin without their having to buy or store the cryptocurrency themselves. Additionally, it will provide a much more liquid marketplace, since investors won’t need to worry about buying and selling large amounts of Bitcoin at a time.

While these might seem like small catalysts in the grand scheme of things, they’ll have huge ramifications for crypto in the institutional space, more of which we’ll cover in our next section.

Why Is Everyone Excited Over BlackRock’s Bitcoin ETF?

 in crypto, you’re probably wondering why investors are getting their hopes up when it comes to 

. After all, Bitcoin ETFs such as ProShares Bitcoin Strategy ETF (

) already exist, so there seems to be no reason to get excited about another Bitcoin ETF — right?

This is where the idea of mainstream adoption and bulk buying from institutions comes into play. 

The potential launch of IBTC isn’t just the appearance of another ETF on the market. Rather, it signifies mainstream adoption and potential institutional bulk buying. BlackRock must accumulate Bitcoin for its IBTC reserves, which could trigger a surge in BTC buying volume, further driving up the price of Bitcoin. 

In fact, Bitcoin’s price has already increased significantly, 

 on Oct 24, 2023. Its price has been riding a wave of optimism, hitting its highest value since May 2022. This surge is attributed to the growing interest and acceptance of Bitcoin ETFs, with BlackRock's IBTC being a significant contributor. The potential launch of such ETFs has bolstered confidence among investors, leading to a more bullish outlook for the cryptocurrency. 

However, in a surprising turn of events, the ticker for BlackRock's IBTC was momentarily removed from the DTCC website the morning of Oct 25, 2023, causing a 

 led to speculation and concern among investors, although shortly afterward the ticker reappeared on the DTCC site, confirming IBTC’s presence and putting to rest any uncertainties. The exact reasons for this brief interlude remain unclear, but the swift rectification indicates the robustness of the systems in place and the commitment to transparency. 

As ETF approval is imminent, it may also cause speculators to jump on the bandwagon and buy in, due to the fear of missing out (

) on unrealized crypto gains. This two-pronged buying frenzy will likely cause yet another BTC price surge, with many foreseeing Bitcoin’s price 

BlackRock has had an impressive and extensive record of getting things across the legal line. With more than 500 ETF approvals and a history of meeting market demand for its products, the company has demonstrated a remarkable ability to navigate the regulatory landscape when it comes to getting its funds to market. This reputation alone is a huge reason why there’s been a recent rally in Bitcoin prices, as speculators are even more bullish on the launch of similar Bitcoin spot ETFs following BlackRock prospective IBTC launch.

BlackRock's Bitcoin ETF is one of the first crypto spot funds to appear on the DTCC website, which means it could also be one of the first few to be launched on the market. This makes it unlike the rest of the market, which offers Bitcoin futures ETFs that actively track the prices of Bitcoin futures contracts, rather than the actual price of Bitcoin itself. 

The ramifications of this milestone could be enormous since institutions will have much more accessible exposure to Bitcoin without having to purchase or manage the digital asset itself. This in turn will result in a new wave of investments into the crypto space, ranging from institutional investors attempting to build up their Bitcoin reserves to FOMO retail buyers who may not have the means or knowledge to buy and manage digital assets on their own.

Since the ETF filing announcement on Jun 16, 2023, Bitcoin has seen an explosive rally from $25,000 to more than $30,000. Now, with the prospective launch of IBTC, Bitcoin has seen yet another surge over the past week from $26,000 to $35,000. The unique proposition of IBTC as a crypto spot fund, if approved, is monumental as it would offer institutions a streamlined Bitcoin exposure route, ushering in a new wave of crypto investments. Given Bitcoin’s recent high-volume price movement, its price will likely exhibit exhaustion and experience some form of price correction in the short term. We foresee BTC retesting the $34,000 price zone, as it was a former 

 that BTC easily broke through that now acts as an area of demand for BTC buyers. 

BlackRock’s Bitcoin Spot ETF vs. Bitcoin Futures ETFs

Ownership is a major point when comparing a 

. As the institution offering the spot ETF will have to own the Bitcoin in its reserves, it can track the actual price of Bitcoin directly, rather than the price of a futures contract that’s dependent on the buying and selling of speculators. Therefore, rather than relying on contracts that have been agreed upon at some point in the future to estimate the value of Bitcoin, a spot ETF uses the current market price and reflects more of what’s currently happening within the crypto space.

Instead of viewing pricing based on Bitcoin futures contracts as a downside, Bitcoin futures ETF buyers have a different perspective. Since Bitcoin futures ETFs are tied to contracts with predetermined expiration dates and fixed prices, they can more conservatively provide stability for investors who don’t want to take on too much risk due to Bitcoin’s volatility.

Will BlackRock Bitcoin ETF Be a Good Investment?

The BlackRock Bitcoin spot ETF's main targets seem to be institutional investors bound by regulations, as well as retail investors who aren’t experienced in buying crypto. Therefore, crypto-savvy investors and traders with investing in mind would be better off buying actual Bitcoin because of possible tracking errors, management expense fees and worse spread that may arise due to a lack of liquidity. 

However, if there's a sudden trading opportunity that presents itself, then there's definitely no harm in buying and selling some of BlackRock’s Bitcoin ETF shares. As always, 

 before choosing to invest in any cryptocurrencies, including the BlackRock Bitcoin ETF, IBTC. 

The journey to bringing a Bitcoin spot ETF to market has been a long one, but its success could pave the way for future digital asset products now that a heavyweight institution like BlackRock has entered the fray. While it makes more sense for retail Bitcoin investors to continue to 

 into their preferred crypto asset because of management expense fees and tracking errors, BlackRock's entry with IBTC sends a strong message about the growing institutional interest in crypto — and indicates that mainstream media proclamations of the death of the digital asset scene are greatly exaggerated. 

From this perspective, the BlackRock Bitcoin ETF is certainly bullish for the crypto industry. By assisting in the creation of a product such as an ETF, regulatory bodies will be able to establish standard procedures for investing in cryptocurrencies while also providing added security for investors’ assets. This could help to legitimize the cryptocurrency industry and give it greater credibility with potential adopters.

BlackRock Bitcoin ETF: Exploring What It Is and Its Impact on Bitcoin Prices

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