Značka: SCRT

Secret Network offers $400M in funding to bring others in on the secret

Secret Network is offering $400 million in funding to grow its privacy-oriented ecosystem and expand user adoption.Secret Network is a decentralized ecosystem that utilizes trusted execution environments to enable private, secure computation over encrypted data. The ecosystem has four components: Secret Tokens, Secret Bridges, Secret Finance and Secret NFTs.According to a Jan. 19 announcement, the privacy-oriented platform is offering a $225 million ecosystem fund and a $175 million accelerator fund with support from 25 existing investors and partners, including BlockTower Capital, Arrington Capital, Fenbushi Capital, Outlier, Spartan Group, and Figment. The Founder of Secret Foundation Tor Bair told Cointelegraph the funding would further the network’s aim to “scale privacy-first, decentralized applications to global adoption by millions of users,” as he emphasized the importance of Web3 technology:“Privacy technologies are essential to ensure that Web 3.0 will be empowering and open, rather than an extension of the failures of Web 2.0.”The ecosystem fund will be used to expand the project’s application layer, network infrastructure, and tooling. The accelerator pool will provide non-dilutive capital, grants and incentives via its native token SCRT to quickly expand user adoption. Secret Network also revealed that numerous top-tier investment firms recently acquired SCRT positions and joined the ecosystem as critical stakeholders, including Alameda Research, DeFiance Capital, CoinFund, and HashKey.The ecosystem funding is a part of the Shockwave initiative, a vision for Secret Network’s global growth, which was announced on Jan. 12. Shockwave aims to cement the ecosystem’s standing as a privacy hub for Web 3.0.Related: Miramax sues Tarantino over ‘money grab’ Pulp Fiction NFTsBair said that a global, privacy focused network was an essential part of building a better internet:“Private-by-default networks and applications create choices for users and allow them to control and consent to how their data is used. The entire Secret community is dedicated to protecting users, providing security, and fighting against surveillance capitalism — a system that exploits instead of empowering.”The funding news follows Secret Network’s freshly launched auctions for a collection of seven highly-anticipated NFTs issued by Quentin Tarantino on Jan. 17. The collection consists of seven chapters of Tarantino’s original, handwritten screenplay of Pulp Fiction, the first chapter of which has been sold and will be announced on Jan. 24.

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Cosmos ecosystem tokens rally after Evmos promises Ethereum interoperability

The wider cryptocurrency market is facing another day of volatility and selling on Jan. 7 as Bitcoin (BTC) bears managed to break bull support at $42,000. The price of Bitcoin was pushed to a daily low of $40,620 before resources were exhausted. Data from Cointelegraph Markets Pro shows that four of the top seven gainers of the day are part of the growing Cosmos Hub. This ecosystem currently uses the Interblockchain Communication protocol (IBC) to facilitate interoperability and communication between connected networks.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProHere’s a look at what’s behind the strength seen in IRISnet (IRIS), Secret (SCRT), Akash Network (AKT) and Cosmos (ATOM). IRISnet expands its NFT capabilitiesThe top gainer over the past 24-hours has been IRISnet, an interchain service hub for decentralized applications that enables cross-chain interoperability and provides businesses with modules to support running a distributed system. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.079 in the early trading hours on Jan. 7, the price of IRIS blasted 84% higher to hit a daily high at $0.144 as its 24-hour trading volume surged 2,320% to $112.6 million. IRIS/USDT 4-hour chart. Source: TradingViewThe sudden surge in price and volume for IRIS comes as the protocol’s nonfungible token community continues to expand thanks to the upcoming launch of the Uptick Network nonfungible token (NFT) ecosystem. These efforts have helped to attract new users to the IRISnet ecosystem. Pulp Fiction NFTs are coming to the Secret NetworkThe Secret Network is a blockchain protocol with built-in data privacy for smart contracts that enables programmable privacy for data transfer, decentralized finance (DeFi) and NFTs. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SCRT on Jan. 3, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points that includes market sentiment, trading volume, recent price movements and activity on Twitter.VORTECS™ Score (green) vs. SCRT price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for SCRT began to pick up on Jan.3, around 55 hours before the price increased 25% over the next day.The boost to SCRT price comes after it was revealed that movie director Quentin Tarantino will be releasing NFTs from the popular move Pulp Fiction on the Secret Network. Akash Network partners with CloudStackThe Akash Network bills itself as the world’s first decentralized cloud computing marketplace for DeFi. Known as DeCloud, the service enables any application to launch quickly without the need to set up, configure or manage servers. Data from Cointelegraph Markets Pro and TradingView shows that after a quick drawdown to a low of $2.33 on Jan. 5, the price of AKT rebounded 25% to a daily high at $2.93 on Jan. 7 as its 24-hour trading volume increased by 88%. AKT/USD 4-hour chart. Source: TradingViewThe building momentum for AKT comes following the announced partnership between the Akash Network and CloudStack, a decentralized cloud aggregator that offers a portal to access any decentralized storage network, including Filecoin, Arweave and Storj. Related: 3 reasons why Cosmos (ATOM) price is near a new all-time highBulls like the idea of interoperability between Cosmos and EthereumCosmos is the foundational blockchain protocol for the entire Cosmos Hub, billing itself as the “internet of blockchains.” ATOM holders stake the platform’s native ATOM token to secure the entire ecosystem. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SCRT on Dec. 29, prior to the recent price rise. VORTECS™ Score (green) vs. ATOM price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ATOM climbed into the green zone on Dec. 29 and hit a high of 80 just as its price began to increase by 79% over the next nine days. The overall cryptocurrency market cap now stands at $1.987 trillion and Bitcoin’s dominance rate is 39.9%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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