Morph secures multi-million investment from Bitget

The crypto spot and futures trading platform Bitget announced on Dec 11 a multimillion-dollar investment in Morph, a Layer 2 consumer blockchain for value-driven dApps.

An important factor behind Bitget’s investment is Morph’s roll-up technology, which enables secure and flexible transactions for dApps and speeds up dispute resolutions by utilizing the “best Features of Optimistic and ZK roll-ups to reduce cost barriers,” according to information shared with Finbold.

Bitget Managing Director Gracy Chen described Morph’s team as vibrant and highly experienced. She believes the blockchain has the potential and the knowledge base to help encourage mass adoption.

Chen added that the investment was part of Bitget’s broader strategy to build relations with innovative and promising Web3 projects.

Morph gearing up for seed round

Cryptocurrency

Oasys and Fireblocks team up to ease Web3 game developers’ asset handling

Cryptocurrency

Rise In acquires BlockBeam to shape U.S. Web3 developer education

Cryptocurrency

Astar Network and KDDI seal strategic Web3 partnership with MoU signing

Cryptocurrency

HopeCard public beta goes live connecting Web2 and Web3 for crypto users

Cryptocurrency

Radix Babylon upgrade enters new age for Web3 user and developer experience

Morph expressed its excitement over the cooperation with Bitget and specifically highlighted the opportunities presented by the ability to leverage the investing firm’s large user base – 20 million strong with 12 million on Bitget wallet alone – as well as its well-established ‘wealth of knowledge and strategies’ on the industry.

Morph Co-Founder and CEO Cecilia Hsueh stated:

“We are extremely grateful for Bitget’s support. The recent capital infusion showcases our incubator’s confidence in Morph’s UVP and sets the stage for the seed funding round. Our proactive financial strategy is crafted to tackle an aggressive roadmap and product development timeline to reform the Layer 2 landscape.”

Around the same time, Morph also created a partnership with a Singapore-based crypto fund called Foresight Ventures – the fund that recently bought a majority stake in the online news outlet The Block – as part of its broader expansion strategy.

The company expects its Testnet Beta to launch in January 2024 and believes that its recent partnerships position it well to initiate a seed funding round.

Comments

Post a Comment

Popular posts from this blog

XRP Down 20% in a Month: Is the Bull Run Over?

Image
Ripple’s native token XRP is down close to 20% in a month. The downturn indicates that the bull run could be over as its price is on a slippery slope. While bulls were expecting the leading altcoin to breach the $4 mark, it now looks like it could fall below the $2 range. Investors are skeptical of taking an entry position, believing that the altcoin is yet to bottom out in price. Also Read: AI Models Reveal How Ripple May Surpass Rival Cryptos Will XRP Rise Again? Source: Coin Edition Yes, XRP will rise again, and that’s the way the market functions in a cyclic manner. The rise, fall, and sideways trading is the norm, but the million-dollar question is, how long will it last? Nobody, not even a seasoned investor, can crack the market timing, as it’s the only thing that cannot be tamed or controlled. Also Read: Canary Capital Sets Nov. 13 Launch for XRP ETF After SEC Shift Leading on-chain metrics and price prediction firm Wallet Investor has painted a bearish picture ...
Read more

Bitcoin Price Slumps 5% As Unemployment Data Stokes Recession Fears, Yet Investors Flock To 99BTC Presale With Less Than 3 Days Left

Image
The Bitcoin price plunged 5% in the last 24 hours to trade at $61,489 as of 11:58 p.m. EST on trading volume that surged 14% to $45 billion. The dive followed economic data in the US that showed hiring slumped, while unemployment rose for a fourth month in July, stoking fears that the Federal Reserve may have waited too long to start lowering interest rates. Some Fed watchers are now concerned that the central bank should have decided at a meeting this week to lower rates for the first time in four years. This could have allowed them to get ahead of a slowing US economy without risking it tipping into a recession. Bitcoin Price Bearish – Could The Bulls Stage A Trend Reversal? The Bitcoin price continued with the bearish trend, dropping below the 200-day Simple Moving Average (SMA) according to our Analysis yesterday, dropping to $60,640. BTC now trades below the lower boundary of the falling channel and below the 50-day and 200-day SMAs, which support the bearish stance. ...
Read more

Crypto Chart Patterns Explained: How to Read Bitcoin Charts

Image
You may have come across terms thrown about in the crypto space, such as “head and shoulders,” “rising wedges,'' and “cup and handle.” These are used by traders when analyzing crypto chart patterns. In this guide, we will explain how to read bitcoin charts and highlight popular crypto chart patterns you should know. What is Chart Analysis?  To determine whether to take a long or short position when trading bitcoin, you can use charts that provide you with timely insights. Technical analysis can help traders to assess price trends and crypto chart patterns to spot trading opportunities.  Technical analysis involves the analysis of past trading activity and price fluctuations of an asset, which can help to predict future price movements to some degree. Technical analysis uses patterns in price information to identify trends and make predictions.  Bitcoin chart Analysis is important in the sense that traders can interpret ch...
Read more