World Token is a DeFi project that aims to combine many of the various tokenomics of current frictionless yield protocols in a way that would allow users to earn instant rewards. On top of that, the project also offers additional benefits of staking, which will be available in its marketplace, once it launches.
So far, the project has launched its testnet, which happened around one week ago, on March 28th. However, this is only the first in a series of new developments that the project has in store. Another big move that it recently made is its partnership with Shopping.io (SPI) — an online store for shopping with cryptocurrency.
The store is partnered with a number of giants such as Amazon, eBay, and Walmart, and these stores’ goods can now be purchased with cryptocurrency such as World Token’s WORLD. In the near future, even goods from AliExpress will become available, thus granting people all over the world to start using the token for purchasing virtually anything that can be found online.
According to World Token’s recent announcement, WORLD is now an official form of payment on Shopping.io, which is not only a major milestone for the project but also an important step on the road of revolutionizing eCommerce.
World Token is currently working on developing the World Marketplace, which is imagined as a one-stop shop for buying goods online. That doesn’t only include physical goods from stores like Amazon, Walmart, and eBay, but also digital goods, such as games, collectibles, NFTs, comics, music, eBooks, gift cards, and everything else that its users may desire to own.
All transactions will be escrow-based and facilitated via smart contracts. That way, users and their customers will be quickly and easily connected no matter where they are in the world.
As for the token itself, it was launched earlier this year, on February 1st. It reached its all-time high of $0.24 on the very next day, before correcting to $0.1, and then growing again to $0.2. Following this growth, the token saw another correction to $0.05, before gradually returning back to $0.2 as the testnet launch approached.
Bitcoin Bulls Run Amok: Short Traders Hit with $90 Million Loss Amidst Unstoppable Surge
The relentless surge in Bitcoin’s prices has left short traders reeling as highly leveraged futures bets against the cryptocurrency incurred losses totaling $90 million on Tuesday alone.
This follows an additional $70 million in short liquidations on Monday, contributing to Bitcoin’s remarkable climb from $39,000 to $44,000 this week.
According to data from CoinGlass, most of these liquidations transpired on major crypto exchanges, including Binance, OKX, and Huobi.
The substantial liquidation figures have the potential to signal either a local top or bottom in a significant price movement, providing valuable insights for traders looking to strategically position themselves.
The surge in trading volumes, up by 25% in the past week, coupled with the growth in open interest from $17.2 billion to $20.2 billion since the beginning of December, underlines the increased market activity around Bitcoin.
Several factors are contributing to Bitcoin’s recent growth. Optimism is swirling around the potential approval of a spot exchange-traded fund (ETF) in the U.S., with traders factoring in anticipated rate cuts, buoying riskier assets like technology stocks and Bitcoin.
Additionally, the possibility of sovereign adoption is gaining traction as leaders in major economies express a Bitcoin-friendly stance.
Over the weekend, a notable group of traders committed to a $200 million BTC futures position, emphasizing the sustained demand for exposure to Bitcoin.
Amid continuous updates and changes in spot ETF applications, some industry observers foresee Bitcoin prices surpassing the $48,000 level in the coming weeks, further intensifying the cryptocurrency’s bullish momentum.
Dogecoin (DOGE) Rides Bitcoin Surge, Gains Over 10% in 24 Hours
The cryptocurrency market is witnessing a resurgence of risk appetite as more investors jump on unconventional choices such as Dogecoin (DOGE), Shibacoin, Memeland, etc.
In the past 24 hours alone, DOGE has surged by over 10% to $0.10 a coin for the first time since April following Bitcoin’s climb from $38,000 to $44,000.
This surge, coupled with the rising price, validates the upward trajectory of DOGE, signaling growing investor interest.
Funding rates on various exchanges have also experienced a substantial surge, hitting an annualized 50% or more.
These rates, reflecting a steep premium in perpetual futures relative to spot prices, indicate a prevalent bullish sentiment among investors.
It underscores their collective optimism, suggesting a belief that prices are poised for further upward momentum.
Joke cryptocurrencies like DOGE have historically exhibited high-beta characteristics, closely mirroring Bitcoin’s movements but often with greater intensity.
Investors are advised to exercise caution and monitor DOGE’s potential for extreme bullish action relative to Bitcoin, serving as a potential indicator of speculative exuberance typically observed in the latter stages of a widespread bullish trend.
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