Prominent Crypto Exchange Has Offered To List HIVECOIN An Important Message From Thomas To All Members

Prominent Crypto Exchange Has Offered To List HIVECOIN! An Important Message From Thomas To All Members

Markethive’s objectives are building momentum and rapidly being realized as the five milestones are rolled out for its debut on the world stage. We are on the home stretch with the significant development of a prominent Cryptocurrency exchange approaching Markethive regarding Hivecoin’s (HVC) listing on its platform. 

This is a significant achievement and a testament to our collective efforts as valued Markethive members. Our instrumental role in promoting Hivecoin, generating the initial transactional activity, and spreading the word has not gone unnoticed. We are often rewarded with HVC from Tom for our active participation, a clear recognition of our collective success. 

As Entrepreneur One associates (E1s), we contribute to Markethive’s development because we see the Divine vision and know how imperative it is to get this show on the road for all humanity. As an investment, Markethive is very close to handsomely rewarding all E1s via ILP dividends. 


Source: IndoEx

The major hurdle of getting listed on an exchange has been lifted. A crypto exchange has recognized Markethive and deemed it vital enough to offer the listing of our coin, HVC, on its trading platform. 

IndoEx is among the top 100 exchanges and in the top 10 in terms of trading volume on Coinmarketcap, indicating its prominence. It has 60,308 BTC in a 24-hour volume, 219 market pairs, and is supported in 150 countries, including the USA, Canada, Mexico, Brazil, Argentina, Australia, Asia, and Europe.

They approached the CEO of Markethive, Thomas Prendergast, offering a genuine listing and waiving most of their fee. All we need is $5000, which is nominal and includes a substantial promotional broadcast to their vast community to bring awareness of what Markethive is all about. This listing will increase the visibility and credibility of Hivecoin and Markethive as a crypto ecosystem, opening up new trading opportunities, traction, and increased value. 

IndoEx’s package to Markethive includes: 

  • One Market pair HIVECOIN <> USDT
  • Market-Making service for 12 months
  • 24/7 support
  • Two zero-fee accounts for 12 months
  • Promotions
  • Trade Competition
  • Social media announcements & newsletters


Source: Coinmarketcap

The offer from IndoEx was a blessed surprise and the most critical aspect of transforming Markethive into a full-blown ecosystem. It is also something that all members, free and upgraded, have been waiting for or should be. However, as Markethive is a grassroots project, venture capitalists do not support us; the money for development comes from the E1 associates through their subscriptions, which is working capital.
 
To make this Hivecoin listing a reality, we need members to contribute to the $5000 required. Your one-off donation, no matter the amount, will help cover the listing costs and the significant promotional broadcast on IndoEx, which is vital to Hivecoin's success and, of course, your success, notably your economic sovereignty. 

Listen to Tom’s heartfelt message as he discusses this colossal milestone that arrived on Markethive’s doorstep. He also talks about the five other milestones that have been delivered or are very close to being launched. 

What Will You Get For Helping Us?

Founder and CEO Thomas Prendergast is pledging some very lucrative incentives for your contributions: 

► 1 x $5000 loan in return, you will get 10 ILPs and 1000 Markethive Credits
    0r
► 5 x $1000 loans and each one will get you 1.5 ILPs and 100 Markethive Credits
    And / Or
► 10 x $500 loans and each one will get you .5 ILPs and 10 Markethive Credits
    And / Or
► 50 x $100 loans, and each one will get you .1 ILP and 1 Markethive Credit

A huge foundational cornerstone to everything Markethive encompasses is getting Hivecoin listed on the exchanges so it establishes a value. The demand for HVC will be significant because it is the preferred function of transactions within Markethive. Using HVC for transactions will attract a discount. 

For example, buying a press release with Hivecoin will be less expensive than using a credit card. We can also accept Hivecoin in the Markethive vault for all purchases. This article outlines a projection of HVC and why it has the potential to reach these highs, sparking excitement and optimism about its future value. The ubiquitous utility and total supply of HVC driving its potential value are reasons for us to be excited about its future.  

It’s also important to remember that when we’re on one exchange, more will follow; this cascade will drive the demand further and the value higher. We are at the next threshold of really bringing Markethive to the forefront. This is a significant moment in our journey, and your contribution is a crucial part of it. Together, we are making history in the crypto sector. 

It’s also not too late to secure an Entrepreneur One Subscription. Doing so enables us to move forward even more rapidly with developing the five main milestones, which will bring in millions of new subscribers and drive the revenue paid to the ILP holders every month. This is the start of securing your financial future with Markethive, a legacy for you and your family. This article explains in more detail what ILP is and how it works. 

We are now at a pivotal moment in Markethive’s history; your contribution will make a significant difference. The door has opened to bring Markethive into the emerging crypto sector. Your help is crucial in jumping the final hurdle so that Markethive can be a beacon of light in a highly uncertain world. 

Where and How Can You Contribute To The Exchange Fund?

Join this Markethive group, Fund The Exchange, to contribute now and be blessed by your efforts. Thomas will be there to communicate with you and keep you updated on the progress of this imperative project. 

To contribute, you must process your contributions with either Solana or Bitcoin. Send your contribution to the address provided below.

Send Solana to this address: 9EL7ZDW95D3agRMBU1ZtgrySd22dPd6cTFTtxGDBE4Kv

Send Bitcoin to this address: bc1qcjs24ny5g37anyrfa0u2d4h03dqkaxns2cnkr0

After sending your contribution, please post your TRX (tracking) address and the amount you sent in the group. This will help us keep track of the contributions and ensure transparency in the fundraising process.

There is no time to waste; join now and be part of this monumental achievement!  Exciting Incentives Await! https://markethive.com/group/fundtheexchange

Your immediate contribution will help us secure the listing on IndoEx and take a significant step toward establishing Hivecoin's value.

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

MARKETHIVE – Entrepreneur One Upgrade Explained – UPDATED 2024

MARKETHIVE – Entrepreneur One Upgrade Explained – UPDATED 2024

Markethive’s Entrepreneur One Loyalty Program takes on a new meaning and concept. 

Loyalty programs have become second nature and intrinsically crucial to many businesses and us as consumers, starting way back in the 1970s when airlines offered frequent flyer points. There are now many loyalty programs; however, the point program is the most common, where customers accumulate points to redeem rewards. 

Loyalty programs were introduced to increase the customer base and the company's bottom line and create the potential for loyal consumers and repeat business. 

The image below illustrates the top 5 categories in which loyalty programs have been successful. Where the Spending has increased, loyalty programs are fundamental to our daily lives—one way we can save money is by joining their loyalty program. As customers, it's very satisfying to know we've saved money, but is there a way to make money? 
 

 
Make Money with Markethive's Hybrid Loyalty Programs

Loyalty Programs have evolved online, with Markethive at the forefront. It embraces the loyalty program concept and enhances it with the opportunity to earn a significant income and rewards. Markethive will continue to offer loyalty programs such as the Entrepreneur 1 Loyalty Program and Bounty Program. 

The E1 upgrade includes products and services like Press releases, Banner Impressions Exchange, banner and video advertising, and matching coin bonus airdrop. Then there's the Vault, even gamification, and much more as we continue to improve and enhance the incentives for Markethive members to achieve their personal and business goals, resulting in your financial legacy and self-sovereignty.

The Entrepreneur 1 Loyalty Program 

Subscription Cost: $100 per month

The Entrepreneur Loyalty Program is E1 (Entrepreneur One Upgrade) and is available now but for a limited time. Each E1 Associate receives 1/10th of an ILP (Incentivized Loan Program) after 12 months of consecutive payments of $100 per month. Even when this closes, you will never lose your E1 status or the benefits, providing you stay current with your monthly payment. The 1/10th or 10% share of 1 ILP will accrue yearly, provided you are active for ten years until you have acquired one full ILP. The retail revenue allocation of Markethive's products and services E1s receive will easily cover your E1 monthly subscription. 

Here Are 17 Extra Advantages of the Entrepreneur One Upgrade

The Entrepreneur One Upgrade is the highest premium level you will ever have the opportunity to acquire. It contains all the leveraged advantages you need to accelerate your success in Markethive. Apart from the 1/10th ILP you receive after 12 months that accumulates every year after that, providing you stay current with your monthly subscription of US$100, you also qualify for the following: 

1. Associates Control Panel: Gain complete data, their social networks, verified phone and text, verified email, and a contact management system that tracks data, stores dated notes, sends messaging and calendars events reminding actions on your Markethive calendar like callbacks, email, etc. with the Associates' Control Panel (Part of your Friends section)
 
2. Primary Matching Airdrop Bonus: Receive a 100% matching bonus from the new registration Airdrops. This can be a significant reward for those that aggressively build "associates," the term used for the leads, Markethive provides (profile page and default capture page). Our first infinity airdrop will be 500 Markethive Tokens (MHV). 

It doesn't take a lot of effort to offer a powerful and valuable system like the Markethive system. This system also rewards new members with an immediate 500-MHV token airdrop. You can easily promote this and build thousands of referrals, building your Hivecoin portfolio and customers.
 
3. Secondary Matching Airdrop Bonus: When your associate customer upgrades to Entrepreneur, we airdrop them 100 MHV tokens, and you will also receive 100 tokens as a matching bonus.
 
4. Matching ILP Loyalty Program:  You also get an equal ILP share after 12 months of continuity with the Entrepreneur program. Like an ICO, your monthly payment is accrued, and if you stay current for 12 straight months, we contribute a full 10% ILP and continue to offer this 12-month reward for ten years or your stop payment. This offer is limited to the first 1000 active upgrades.
 
5. Banner Impressions Exchange: You also get unlimited 1st level Banner advertisements in all our traffic portals and Internet properties. This offer is precious as it's considered prime real estate. Markethive properties are already receiving significant traffic, and as we grow, this traffic is included with the Entrepreneur 1 upgrade. Each E1 member gets an equal share of the total impressions from the massive traffic Markethive receives. 

Markethive has released the first of many money machines, the Banner Impressions Exchange (BIX). Non-Entrepreneur 1 members can purchase banner impressions from the active Entrepreneur 1 associate who wishes to resell their impressions. These banner slots will only be available to buy from current Entrepreneur 1 members. Now that's a cool little business right there! 
 
The Banner Impressions Exchange is where any E1 associate can create a Banner Ad business within the Markethive system by listing unused Banner slots/impressions up for bid. Choosing to transact with MHV is very easy, as payments are automated within the system. You may also transact using BTC, ETH, Paypal, and others; however, you must manage the transactions as the seller.
 
 6. Press Release Program: Markethive will also be delivering a Press Release system as a hybrid like PRNewswire (traditional distribution) to include Forbes, Yahoo! Finance, CNNMoney, MarketWatch, TheStreet.com, Bizjournals.com, Business.com, Wired, Tech Crunch, Engadget, Computerworld, CNET News, InformationWeek, R&D Magazine and more in the Tech industry. Our media list will include over 4000 media organizations, journalists, reporters, bloggers, producers, freelance writers, and editors across print, online, blogs, radio, and television.

 It will also publish to our growing social network followers (146,500 and growing via MH subscribers) and increasing WordPress blogs. When Markethive reaches 1 million members, our Social Following is projected to be at (700,000 – 2 million followers total) and about 150,000 WordPress sites. 

These WordPress sites will be mini news media and vertical news media like https://aimhigh.news, and they will be published on Markethive's portfolio of sites like https://Markethive.com, https://Markethive.net, https://allaboutco.in, https://aboutbitco.in, and https://aboutco.in.
 
Cointelegraph, a vertical tech news media organization, charges about $8,500 per release with an Alexa rank (2,622), social followers (1.3 million), and 16,000 subscribers, which justifies their price. Markethive's press release will be priced accordingly and increase as our subscribers' reach grows. The second-biggest digital news media site to Cointelegraph is CNN, with an Alexa rank (15,665) that charges $1800 and only posts to their leading site front page.

The Entrepreneur One Upgrade will include one Press Release per month for life as long as your Entrepreneur One Upgrade remains active and current. The free press release does not roll over, although additional Press releases will be discounted.

7. Sponsored Article Program: Sponsored content is a piece of brand journalism that lives on a publisher's website. The publisher's staff usually writes it so the article matches the rest of their content's tone and voice. The sponsored article is published in the same distribution as Markethive articles. Plus, notifications of articles are sent to our social network and 1000s of connected WordPress sites. Sponsored articles run from high-end media sites like Cointelegraph for $7500 to an average of $1200 for most other media systems in the general markets.
 
8. News Feed Boost: Entrepreneurs get one monthly news feed boost (publish a post to the entire membership). This does not accrue.
 
9. Co-Op Customer Acquisition Program: Markethive strategic campaigns will designate 60% to 80% of our revenue into Marketing and Advertising campaigns. These campaigns will point to Markethive assets like:

  • Markethive.com
  • Markethive.net
  • Aboutco.in
  • Allaboutco.in
  • Aboutbitco.in
  • Ewav.net
  • Iwav.net

Traditional Customer Co-Op programs charge $50 to $100 per customer. Cooperative marketing programs foster teamwork between a brand (Markethive) and its channel partners (Markethive Subscribers), who often don't have large marketing departments. 

Markethive is more equipped to create professional advertisements and manage media placement. Markethive Entrepreneur Upgrade subscribers generate demand, and Co-op marketing programs take advantage of the sales channel's local presence. This benefits both the partner and the brand.
 
10. Commerce Portals: To sell on our commerce portals, like Big Kahuna (a website builder like WIX), Beelancers (a freelancer service like Freelancers), and Markethive Exchange (a full-service crypto exchange like https://idex.market/), you must be an active Entrepreneur One Upgrade to sell or trade. This eliminates processing fees and commissions on Freelancers, Upwork, Guru, etc. 

Buyers have no obligation other than free registration with Markethive. This change in services where it is traditional to be constrained into the platform and pay high processing fees and commissions are eliminated with the Markethive Entrepreneur Upgrade system.
 
11. Crowdfunding Portal: If Markethive engages (and we will likely engage) with a crowdfunding campaign, it will be promoted to top crowdfunding systems like ICOranker, ICObench, Tokentops, Airdrops.io, and Cryptoslate.com. We will share the campaign traffic via all Entrepreneurs through our crowdfunding portal @ Markethive.io and give all Entrepreneur Upgrades their self-replicated portal to help in the campaign. 

These portals will earn equal matching shadow shares if they bring in new ILP purchases and acquire new members as traffic portals.
 
12. Texting: Ability to send a text to your Associates. Limited to one per day per Associate
 
13. Upgrade Groups to Supergroups: Supergroups (formerly Storefronts) have landing pages, forms, and shopping carts designed to act as a vertical eBay or Affiliate portal.
 
14. Advertise to the Calendar: Publish events to your calendar, which is included on the main Calendar page within Markethive.
 
15. Video Advertising: Entrepreneur One will include a video ad portal similar to the banner portal.

16. The Entrepreneur One Exchange (E1X): The E1 Exchange is explicitly designated for the E1 associates. Once the E1X is integrated and active, the Entrepreneur One Upgrade will not be available for any new or free members from the Markethive administration. However, they can be acquired through our E1X from current E1 associates who decide to sell their accounts. There's no restriction on the number of Entrepreneur One subscriptions you can own to benefit from multiple memberships. If you have numerous E1 subscriptions, you'll receive the corresponding number of bonuses, such as the ILP and HVC, for each membership you hold. 

As we move closer to the official release of Hivecoin, E1 Exchange, and associated implementations within the Markethive system, the Entrepreneur One Upgrade will only be available to bid and purchase from E1 associates who hold multiple E1 subscriptions, should they choose to sell one via the E1 Exchange (E1X). 

17: Promo Code Reward System:  The Markethive.net Promocode site is a comprehensive website with navigational links to white papers on many aspects of Markethive and exclusive to the Entrepreneur One Status. The white papers listed include the Role of Community, Markethive Broadcasting, Business Liability, Inbound Marketing, The ILP,  and the Traffic Report. The E1 members are allocated promocodes from the company with maximum value to incentivize new referrals with an offer of various Markethive products. The Promo Code is an excellent initiative for referrers and referralsThis welcome bundle may include complimentary Wheel of Fortune spins, free Boosts, a 30-day trial of the Premium Upgrade, banner impressions, Markethive Token Airdrops (MHV), or a redeemable value of Markethive Credits (MVC). Certain Promo Code offers include referral incentives, where the referrer can earn matching bonuses. 

This article explains the four different Markethive tokens in more depth and the potential of Hivecoin, Markethive’s primary token for transactional activity or trading on crypto exchanges. All of these E1 advantages are, in effect, money machines that will increase your earning potential and economic growth to have a lasting legacy for you and your family. 

 

Let's Look At The Numbers Of The ILP Income Potential

The E1 Associates' share of the ILP represents 20% of the net revenue of Markethive, and based on actual internal statistics and tracking, the projections indicate that by 2023, a member base of 500 million will yield a monthly income of $5.6 billion. 20% equals $1.2 billion allocated for the ILPs, divided by the maximum of 1000 ILPs, and returns a $1.2 million payment per ILP. 1/10th of that ILP (earned via the E1 upgrade) returns a monthly dividend of $120,000. 

Even external statistics confirm Markethive's projections. For example, according to Google's Alexa Ranking (now deemed redundant), Markethive was ranked 3,797 at the time of this original publication in 2020. This shows that Markethive is among the top three similar sites in the industry. Blockchain technology and cryptocurrency have made it easy for Markethive to pass on the benefits and wealth to the community. 

This opportunity to upgrade to the Entrepreneur One loyalty program, where you will receive a 1/10th iLP every year you are active and current, will soon disappear, so don't miss out. Instead of a few investors taking the lion's share of the profits like all other platforms, Markethive allows you to be part of the early adopter phase. You will own a piece of this next-generation social market network that includes everything you need to be successful online. 
   
It's not about the bottom line for Markethive; it's about you, the member, the "rank and file." You are a virtual owner of Markethive; it's your company where you receive valuable tools and considerable returns from the ILP. The ILP is on track to commence revenue payments early next year and will grow as Markethive grows.

Moving Forward

As Markethive moves forward, we will introduce some entry-level loyalty programs offering extra fundamental services for those who cannot upgrade to the Entrepreneur 1 level. Stay tuned for that. The Premium Upgrade will be available at an entry-level cost, a fraction of an E1 upgrade; however, it will not include the ILP increments. 

And, of course, don't forget about the Referral Program that will unlock your Micropayment Faucet System. The Bounty program, Hive Rank, and gamification activities in the Markethive ecosystem make it fun and exciting and increase your earning potential within the hive. More about this will be discussed in upcoming articles as they roll out.
 
Everyone Succeeds

Markethive truly wants everyone to succeed. Our consumer coin, Hivecoin (HVC), was created on the Solana Blockchain Network, making this a reality and very much the future of social market networks. Now, there is a place to earn real online income while doing what you love. 

You can feel safe knowing your data is protected, and self-sovereignty is paramount in this collaborative environment. You are respected as an individual, and your loyalty will be rewarded as Markethive is on track, on time with its milestones, and set to deliver the additional promised services. Markethive’s traction is increasing exponentially, and it’s all coming together as the next-generation Market Network in a league all of its own.

The Entrepreneur One Upgrade is a reciprocal blessing of a divine vision. 

We have just delivered Version One of the new newsfeed. We are getting very close to completing the remaining milestones, which include the E1X, KYC-Login system, Promo Code reward system, Premium Upgrade, and Conference Rooms. Once complete, the Entrepreneur One Upgrade will not be available from Markethive, the company. It's time to consider securing your financial future by grabbing an E1 now! Doing so makes you a shareholder, early adopter, and pioneer in creating this Divine Vision. The more E1s we have contributing, the faster the road to the success of our entire community. 

How can you forge your future as an Entrepreneur and get your share of ILPs with the Entrepreneur One Loyalty Program? By clicking on the Membership Upgrade tab on your home page. A popup will prompt you to become an Entrepreneur One Associate with seamless navigation and ease. 

Take advantage of the Markethive meeting held on Sundays at 8 a.m., as Markethive founder and CEO Thomas Prendergast will reveal much more as we move forward with the final launch of the fundamentals, bringing Markethive into its own and setting it on the path of the final harvest. Attending the meetings can be beneficial, as Tom is known for generously distributing Hivecoin to those present. 

 

ecosystem for entrepreneurs  

 

Editor in Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech. I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

The New Mini Blog Newsfeed Is Here At Markethive A significant achievement unlocked with many more to come

The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come

The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.

At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.

We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.

In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.

Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. This article illustrates the different newsfeeds in development and much more.

Mini Blog Newsfeed Version One Now Integrated 

Markethive is thrilled to introduce its first newsfeed, the Conglomerate Newsfeed, also known as the Mini Blog Newsfeed Version 1. This key feature, available as part of Markethive's subscription upgrades, is a significant step towards our mission. The revenue generated from these upgrades contributes to the Entrepreneur One program, with E1 members receiving 20% of the net profit from subscription and service-based revenue.

This newsfeed functions similarly to a blogging platform—a mini blog system presenting a visually appealing and organized layout incorporating thumbnails and videos. By formatting each post, a uniform display of all published content is created, showcasing a concise preview of each publication.

The proliferation of online social media and marketing has led to cluttered and chaotic newsfeeds and threads. The revamped newsfeed addresses this issue by streamlining the layout, preventing large graphics from dominating the feed, and creating a more manageable and comfortable user experience.

Every post on Markethive comes with a unique permalink that allows you to share the content on other websites and social media channels. This feature is exclusive to Markethive and sets it apart from other platforms, making you part of a unique and special community. When a post is accessed within Markethive, it expands into a dedicated window, showcasing the full content, accompanied by a comments section, social sharing buttons, and a tipping option.


Courtesy of Kevin Jacobson, E1 Associate. 

For our free members, Markethive offers a standard text-based newsfeed that allows one image. However, with the Newsfeed Broadcast Upgrade, your posts will transform into mini-blogs, offering unlimited capabilities. The HTML editor allows various fonts, colors, bold, italics, etc., to construct your publication in the newsfeed and allows for multiple images and video content. This upgrade, available for a minimal price of around $5 per month, will make your messages, advertisements, and general posts look highly sophisticated and appealing.  

For those unfamiliar with the ‘WASIWIG’ editor, note that when you paste content into the editing field, you'll need to use the Ctrl V shortcut to make it visible. This also applies to images—copy the image from your files and Ctrl V into the desired location within the editor.

Thomas Prendergast, architect, founder, and CEO of Markethive, says,

“I am impressed with Elon Musk’s innovation and progress in upgrading the X platform to allow for additional tools, such as unlimited content on the newsfeed. This shows that that’s what people want. What Markethive plans to do with the newsfeeds leapfrogs what X already does with its upgrade. What we’re creating here is the ability to publish an instant blog with the power of the newsfeed and broadcasting. Nobody has done anything like this before.“

This is the 1st version of the newsfeed and will inevitably have a few errors. To address this, we are launching a bug bounty program. We invite anyone who encounters a problem while using the newsfeed or has suggestions for its enhancement to report their feedback to our support team. If the issue is valid or the idea is implemented, you will receive rewards in the form of Hivecoin.

The Way Forward

Just like the Earth functions as a self-contained ecosystem, the world is witnessing a technological paradigm shift where entire ecosystems emerge. This technological evolution is crucial for the long-term viability of any platform. The advent of blockchain and cryptocurrency has empowered pioneering companies to build holistic systems from scratch, addressing the myriad of problems that have long plagued social media platforms.

Leading the way is Markethive, a comprehensive platform that caters to the diverse needs of online users. It encompasses social networking, professional development, inbound marketing, e-commerce, artistic expression, and entrepreneurial pursuits, ultimately enriching the lives of its members. It aims to empower individuals financially, professionally, and personally, catering to people from various backgrounds and interests.

Markethive, the pioneering social market broadcasting network, is continuously innovating and offering innovative solutions and a sanctuary from the chaos of the internet. Leveraging blockchain technology, Markethive is transforming into a fully decentralized all-media platform, positioning it ahead of earlier technologies and systems while embodying the humanitarian principles urgently needed in today's digital landscape.

Don't miss the Markethive meeting this Sunday at 8 a.m., as much more will be revealed. We will share further information about the mini blog newsfeed and updates as we work on resolving the inevitable bugs in this new system. Attending the meetings can be beneficial, as Tom is known for generously distributing Hivecoin to those present.

 


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

BRICS Countries Advancing with a New Payment System A Breakthrough for Global Commerce Potentially Disrupting the Dominance of the US Dollar

BRICS Countries Advancing with a New Payment System. A Breakthrough for Global Commerce Potentially Disrupting the Dominance of the US Dollar

Recent headlines suggested that the longstanding 50-year agreement between the United States to exclusively price oil in US dollars had expired, sparking concerns that the era of the Petrodollar may end. Despite initial fears, it was later confirmed that this information was inaccurate. Nevertheless, significant developments occurred during this period as BRICS introduced a new payment system, and Saudi Arabia subsequently became a participant in this initiative.

A potentially game-changing development is on the horizon as a consortium of emerging nations, known as BRICS, prepares to unveil a new payment system, which it has been working on for years and is based on the Ethereum blockchain. This innovation, with its potential to disrupt the US dollar's dominance, could signal a long-awaited breakthrough for global commerce and provide relief to countries struggling with crippling economic sanctions and the exploitative petrodollar system.

BRICS Explained

BRICS stands for Brazil, Russia, India, China, and South Africa. The original acronym was BRIC, coined by former Goldman Sachs Economist Jim O'Neill in 2001. At that time, four countries were involved. O'Neill's forecast suggested that these countries would experience significant economic expansion by 2050 due to increasing populations, low labor costs, and abundant natural resources.

Geopolitical dynamics and fluctuations in commodity prices also played a significant role. The timing coincided with China's accession to the World Trade Organization and strong commodity demand for developing countries aligning themselves with the US. However, as a previous article on the BRICS nations noted, this dynamic began to shift following the global financial crisis. As Xi Jinping took the helm, China began to chart its course, coinciding with a sharp decline in commodity prices.

Unsurprisingly, Wall Street's sentiment regarding the BRICS shifted. Despite this shift, the article highlighted that the underlying factors that initially drove Goldman Sachs’ optimism about the BRICS remain unchanged. The BRICS countries still have growing populations, low labor costs, and commodity abundance. The only element missing in this equation was a vital commodity market. Some may have noticed that commodity prices worldwide have been rising over the last few years, increasing the geopolitical power of the BRICS. 

It's also no surprise that the general public has begun to take notice, but many Western elites remain in denial about the resurgence of the BRICS nations. Despite this skepticism, the BRICS nations have continued to make significant strides, impressing with their resilience and determination. 

Consequently, accessing reliable information about these countries' developments has become a challenge, especially for those living in Western societies. This scarcity of credible details makes it even more daunting to stay informed about pressing issues, and one topic that has garnered significant attention is the prospect that the bloc will launch its shared currency to rival the US dollar. 

Numerous sources suggest that gold or cryptocurrency might support the proposed BRICS currency, yet no proof exists to confirm its imminent arrival. Upon examination of the origins of these reports, it becomes apparent that they mainly consist of informal remarks by officials from BRICS nations or concepts that have yet to progress beyond the initial proposal stage.

For the time being, establishing an actual BRICS currency is not a current priority. However, developing an alternative payment infrastructure is definitely under consideration. It's essential to note that a BRICS currency and a BRICS payment system are two distinct concepts. A BRICS currency would be akin to the US dollar or the euro. In contrast, a BRICS payment system refers to a network of payment channels that can facilitate transactions in any currency.

Russian companies have been engaging in trade with Chinese companies by utilizing the USDT stablecoin from Tether, which is linked to the value of the US dollar. This development is highly noteworthy as it brings attention to a significant issue. The challenge the BRICS countries face is not the US dollar itself but rather the infrastructure for carrying out financial transactions on which the US dollar relies. This significant issue is represented by SWIFT, which is recognized as the most extensive payment system globally.

Evidently, SWIFT's allegiance lies with Western nations, and it's been increasingly used as a financial weapon to exert and restrict transactions to specific entities. In reality, the SWIFT system poses a more significant challenge for the BRICS nations than the US dollar itself. Consequently, the BRICS have been actively developing a substitute for the SWIFT system.

This new payment system was unveiled during a week when the media was abuzz with speculation about the impending demise of the US-Saudi oil agreement. Interestingly, Saudi Arabia joined the BRICS payment system just before the rumored expiration date, a move that could potentially shift the balance of power in global trade. 

It's tempting to suspect that the frenzy surrounding the US-Saudi oil deal was intentionally exaggerated to divert attention from the fact that BRICS had introduced a rival to SWIFT. This development has far-reaching implications, dwarfing the significance of any oil deal or BRICS currency. If the BRICS payment system gains widespread adoption, it could potentially dislodge the US dollar from its dominant position.


Source: Central Banks Payment News

BRICS Payment System

The BRICS Payment System, known as mBridge, was developed by the central banks of Thailand, Hong Kong, China, and the United Arab Emirates in collaboration with the Bank for International Settlements (BIS), often referred to as the "bank for central for central banks.” Notably, mBridge is a digital currency platform that utilizes Central Bank Digital Currencies (CBDCs). The BIS has been instrumental in supporting central banks globally in developing and implementing their respective CBDC systems.

Those familiar with CBDCs are likely aware of their unsettling implications, as they grant governments and central banks unprecedented control over individuals' financial decisions, habits, and savings limits. However, it's worth noting that CBDCs come in various forms, each with distinct characteristics and intended uses.

CBDCs have two categories: retail CBDCs, intended for public use, and wholesale CBDCs for a select group of individuals and organizations. The mBridge system falls under the latter category, designed exclusively for institutional use. As previously noted, mBridge is built on the Ethereum network, essentially replicating its architecture. It utilizes a blockchain called mBL, written in Solidity programming language, and employs the Ethereum Virtual Machine (EVM) to execute smart contracts.

A critical distinction between Ethereum and the mBL lies in the mBL's private and restricted access. Utilizing the mBL is exclusive to central and commercial banks, which also control the network's infrastructure. Specifically, participating central banks operate as de facto validators, while participating commercial banks act as de facto relays, overseeing data flow within the network.

Another critical distinction between mBridge and Ethereum is their transaction speeds, with mBridge appearing much faster. This is attributed to its innovative Dashing consensus protocol, developed by Chinese researchers, which validates blocks by inspecting random segments rather than the entire block. The primary objective of mBridge is to empower users to circumvent the existing US-dominated financial infrastructure. This includes sidestepping the SWIFT system, avoiding all intermediary banks in cross-border transactions, and trading the US dollar in Forex. 

The US dollar is a bridge currency, especially for large transactions. For example, if you want to swap a large amount of New Zealand dollars for Canadian dollars, you'll have to swap New Zealand dollars for US Dollars and then US dollars for Canadian dollars. That's because it's not always possible to trade large amounts of New Zealand dollars directly for Canadian dollars. 

Using mBridge, you can convert New Zealand dollars to Canadian dollars in a seamless, direct transfer between New Zealand and Canadian banks. The mBridge network system bypasses the need for the US dollar as a bridge currency, eliminates the involvement of intermediary banks, and circumvents the traditional SWIFT infrastructure, marking a significant breakthrough.


Source: Cointelegraph Magazine

Besides facilitating international trade, removing the US dollar as the bridge currency means the demand for tens of trillions of dollars from large Forex transfers disappears. Simply put, the reduced reliance on the US dollar for international transactions substantially decreases demand, undermining the currency's value. As with any asset, the value of the US dollar is ultimately determined by the balance of supply and demand. Suppose the demand for US dollars dwindles as countries turn to alternative currencies for Forex transactions, coupled with a steady or increasing supply. In that case, it will inevitably lead to a decline in value.

To the many who believe a retail CBDC for the general populous is dystopian, including the presumptive 47th POTUS, Donald Trump, this report from the BIS CBDC survey indicates that central banks are shifting their focus away from retail CBDCs and toward wholesale CBDCs and this is likely a saving grace for us. The data reveals that 94% of central banks are more inclined to launch a wholesale CBDC than a retail one, sparking speculation that this shift may be driven by a desire to participate in the mBridge initiative.


Source: Bitcoin Magazine @ X

BRICS Endgame

The BRICS nations' financial plans have taken a significant step forward in conjunction with Saudi Arabia's recent announcement of joining the mBridge initiative. The BIS announced they would introduce the new payment platform on the same day. The BIS also reported that the number of observing members, such as central and commercial banks, who are interested in joining mBridge has increased to 26.

The significance of this development goes far beyond the adoption of mBridge. Notably, the BRICS grouping recently expanded its reach by inviting six nations to join its expanding network, now dubbed BRICS Plus. The invitees were Egypt, Ethiopia, Iran, Saudi Arabia, the UAE, and Argentina. It is worth noting that all of these countries, except Argentina, accepted the invitation. Argentina's decision to decline is interesting, particularly in light of the perceived alignment of its new president, Javier Milei, with the Western bloc.

Regardless of the circumstances, it is intriguing that Saudi Arabia's intentions regarding BRICS membership have been shrouded in ambiguity, sparking curiosity. The media has reported conflicting news, with some sources citing official statements to claim that Saudi Arabia has joined the group, while others, also referencing official sources, assert that it has not.

The proverbial expression holds that actions speak louder than words, and Saudi Arabia's decision to become a part of mBridge clearly demonstrates this. Various political analysts have highlighted that Saudi Arabia's ambiguity regarding joining the BRICS is likely a strategic move to avoid antagonizing its Western counterparts. Similarly, India has maintained a low profile regarding the BRICS, which is understandable given that the BRICS doesn't have a formalized structure.

The BRICS, or BRICS Plus, functions as a group of nations from the global South; as mentioned in an earlier publication, no headquarters, official website, or charter outlines its objectives. This could be due to the need for the BRICS countries to create a financial framework before forming an official entity. 

To provide context, it is essential to note that the United Nations, dominated by Western interests, was founded after establishing the Bretton Woods system. A key factor contributing to the Bretton Woods system's dominance was the influence of institutions such as the International Monetary Fund (IMF) and the World Bank, which effectively ensnared many nations in a web of debt denominated in US dollars, often with unfavorable conditions.

If history is any guide, the BRICS should follow a comparable route. As it happens, the BRICS have already taken a significant step in this direction by establishing the New Development Bank (NDB) in 2015, a financial institution analogous to the IMF and World Bank. The NDB stands out as a tangible entity within the BRICS framework, boasting a substantial $100 billion allocated for infrastructure projects and loans. This positioning, in theory, grants the NDB the ability to exert influence similar to that of its Western counterparts, providing critical financial support to countries in need while encouraging them to adopt policies that align with the interests of the BRICS nations.

In practice, the primary challenge lies with the current payment system. If the NDB were to pursue aggressive lending practices comparable to the IMF, it could attract scrutiny from the US and its supporters, resulting in complications for the NDB and its borrowers.  Moreover, providing loans to nations that are not strong allies of the US could also lead to payment difficulties. The mBridge system, however, resolves these issues.

While there is no definitive proof that the NDB will utilize mBridge, several indicators suggest a strong connection. The NDB is headquartered in China and is one of the five founding members of mBridge alongside Hong Kong. Additionally, the UAE, another key player in mBridge, holds a stake in the NDB. Furthermore, Saudi Arabia has been actively seeking to become a member of the NDB since last year, bringing the number of mBridge participants with ties to the NDB to four out of five.

The fifth is Thailand, which has reportedly expressed interest in joining the BRICS partly because of their discontent with the treatment they receive from Western countries. The governance procedure of mBridge still needs to be fully understood. Still, it is known to exist, and most participants are expected to vote to integrate the NDB if the matter arises.


Source: Blockstreet

Looking Ahead: What's Next for BRICS and mBridge?

The future of the BRICS nations and the mBridge payment system is multifaceted. It's essential to note that mBridge is still in its infancy, having only recently launched as a minimum viable product (MVP), which, as the name suggests, is its initial public release. However, it is evident that BRICS primarily serves as an economic endeavor. Furthermore, the increasing number of countries joining the initiative highlights their interest in the financial advantages of affiliating with major commodity producers, underscoring the profound importance of mBridge.

The primary factor behind the substantial value of the US dollar is its necessity in global trade, particularly for purchasing essential commodities such as oil that are denominated in dollars. This raises a significant question: As a nation, do you require the commodities themselves more, or do you need the dollars to acquire them?

The degree to which a country relies on US dollars is primarily determined by its natural resources. Nations with an abundance of exports, such as oil or minerals, tend to be less dependent on the US dollar, whereas those with limited resources often rely heavily on it. This dynamic significantly impacts global politics, leading to a predictable pattern of geopolitical alignments. Nations with solid commodity reserves wield greater independence and are more likely to challenge the US and its allies, whereas those without must form alliances with the US to ensure access to the dollar.

However, it's important to note that the focus is not solely on the US dollar per se; it's the rails on which it runs. The primary purpose of mBridge is to provide nations lacking in commodities the ability to buy these goods directly from producers, bypassing the need for US-dominated infrastructure. In other words, this platform grants them liberation from American influence, empowering them to act with greater autonomy.

This value proposition is quite appealing because, like most individuals, most nations desire to be independent and avoid getting involved in conflicts between major powers. They aim to exist peacefully, and mBridge offers them the means to maintain neutrality. However, implementing this may pose challenges, leading to intriguing situations. A notable instance is the extensive financial sanctions imposed on Russia, hindering its ability to utilize US dollars in trade and forcing it to rely on the currencies of other trading partners.

In the previous year, a Russian official disclosed that Russia had collected a substantial amount of Indian rupees from selling oil to India. Typically, Russia would exchange these rupees for US dollars, which could then be spent on goods from other nations. However, this is no longer an option. As a result, Russia is limited to using these rupees solely to buy goods from India, despite already having most of the products India offers.

India's major export is petroleum products, which Russia already has in abundance. India's other export offerings, such as rice and textiles, are limited in their appeal to Russia, which already meets most of its needs in these areas. It's akin to having an open-ended line of credit that can only be used at a single store that predominantly sells items you already possess in abundance.

A critical challenge comes to the forefront as the mBridge system expands to include more currencies. This will lead to the necessity of introducing a bridge currency similar to the US dollar. This is where the conflicting information regarding the BRICS currency begins to clarify. 

While there has been a widespread belief that the BRICS currency would be accessible to the general public and function as a standard retail currency, it is more probable that it will be utilized on a wholesale level within the confines of the mBridge system, exclusively by the central banks and commercial banks involved in the system.


Source: Rich Turrin Substack

The primary function of the BRICS currency is likely to prevent countries from accumulating large amounts of any given currency. The concept of a commodity-backed BRICS currency becomes more plausible when viewed as a bridge currency within the mBridge platform. Moreover, establishing this currency will enable smaller nations with more minor currencies to participate in the mBridge system.

Overall, introducing mBridge may signal the beginning of the end of the US dollar's supremacy and potentially a shift away from the increasingly fragmented global trade landscape. Progress in this direction will be gradual, with various obstacles to overcome. The existing US powers will unlikely relinquish their grip on the financial system without a fight and will likely employ all available means to preserve their control. 

What Else Could Be On The Horizon?

A lot is happening behind the scenes, and a significant development is unfolding. Speculation is mounting that a coalition is forming between influential leaders, including former US President Trump, Russia's Vladimir Putin, China's Xi Jinping, India's Narendra Modi, tech mogul Elon Musk, and Prince Mohammed bin Salman of Saudi Arabia. 

This alliance is becoming increasingly apparent as the year advances with widespread optimism, fueled by the belief that a golden age is on the horizon, where nations can peacefully coexist, united in mutual understanding and cooperation.

Just recently, the presumptive President Trump vowed to fully support cryptocurrency and make Bitcoin a crypto powerhouse. This includes setting up crypto mining operations in the US, implementing transparent regulatory guidance to benefit the crypto industry, and ‘cleaning up’ the corrupt banking system. 

This initiative will create an extensive new banking system linked to the BRICS system in the Americas, paving the way for a global trading network based on blockchain technology that can monitor illicit activities like money laundering and human trafficking and ensure full financial transparency.

As Trump said at the 2024 Bitcoin Conference,

“Bitcoin is not threatening the dollar; the behavior of the current US Government is threatening the dollar. The danger to our financial future does not come from crypto; it comes from Washington, DC.”


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Solana Gains Momentum Defying All Odds SOL Set For Serious Gains

Solana Gains Momentum Defying All Odds. SOL Set For Serious Gains

Many altcoins have experienced significant declines exceeding 40% since March, yet a few have shown remarkable strength. Solana stands out as one of these resilient altcoins, prompting speculation about its potential for a bullish surge once the cryptocurrency market reaches a parabolic phase. In this article, we will explore Solana's recent developments and discuss the possibility of SOL reaching new heights in the upcoming months. Whether you are already invested in SOL or contemplating adding it to your portfolio, this information is essential reading.

Significant developments have unfolded in the brief span of three months since the last Solana update. Notably, Solana surpassed Ethereum regarding stablecoin trading volumes, a milestone achieved during a mini-surge in altcoins in March, and Solana was a vital driver of this trend. Notably, SOL’s value peaked just before the FTX estate revealed its plan to offer 41 million SOL tokens to investors at a substantial 68% discount, amounting to approximately $7.6 billion.

FTX completed its over-the-counter (OTC) sales in May, but a crucial aspect to consider is that these deals are tied to a four-year vesting period. This means that when the buyers eventually sell their SOL, they will likely face minimal albeit steady selling pressure. 

Solana Memecoins, Payments 

Solana's surge in popularity can be attributed to the numerous memecoins created on its platform, particularly after the launch of Pump.fun memecoin generator in March. This memecoin hype caused a significant increase in transaction fees, which led to Solana surpassing Ethereum in terms of fees generated. However, the high volume of memecoin transactions caused congestion issues on Solana's blockchain, and despite not experiencing any actual outages, it was severely impacted, rendering the network nearly unusable.

Congestion problems first appeared in April and have since been a significant factor in the fear, uncertainty, and doubt (FUD) surrounding SOL’s price. Solana's validators then implemented a technical upgrade to address the congestion problems, yet they continue to affect some users. Despite this, institutional investors remain unfazed and continue to include SOL in their crypto portfolios.

According to a report by CoinShares, 15% of institutional investors surveyed have raised their investments in SOL since the beginning of the year. Some of these investors likely obtained their exposure through FTX OTC sales. Another positive development for Solana occurred in April when it was announced that Stripe, a major payment processor, would enable USDC payments on multiple blockchains, including Solana.

The importance of Solana's self-positioning as a blockchain for crypto payments cannot be overstated. The announcement in May that PayPal had introduced its PYUSD stablecoin on Solana's platform is particularly noteworthy. In an open letter, PayPal explained its decision to build on Solana, highlighting the network's rapid finality and low fees. Additionally, they emphasized their intention to utilize PYUSD on Solana for commerce and payment purposes, citing its confidential transfer feature. This development could catapult Solana's value to unprecedented heights, with stablecoin payments emerging as a game-changing use case.

June was a whirlwind of activity for Solana. Following the news of its collaboration with PayPal, institutional investors significantly increased their investment in SOL. But they weren't the only ones eager to get in on the action—Circle, the issuer of USDC, also revealed plans to introduce enhanced stablecoin features on the Solana platform.

It’s worth mentioning that Solana is identified as the designated blockchain platform for USDC, as stated in a blog post by Circle. The current status of this arrangement is uncertain following the dissolution of the Center Consortium in August 2023, which was composed of Coinbase and Circle.

Solana Enhancements, ETFs, Regulations  

Solana has made significant iterations, including introducing Solana Actions and blockchain links (Blinks). These innovative tools enable seamless integration of blockchain transactions into various platforms, providing a user-friendly Web3 experience. With Solana Actions, users can efficiently execute on-chain transactions across different platforms, including websites, social media, and physical QR codes, allowing for enhanced flexibility and convenience.

With Solana Blinks, any action can be converted into a shareable link, enabling any website or platform that supports URLs to initiate a Solana transaction using a Solana wallet. This innovative feature seamlessly integrates on-chain transactions into various online platforms, including websites and social media, eliminating the need for users to navigate away from their current page. Thus, decentralized apps become more accessible, intuitive, and user-centric. Most would say that’s pretty remarkable! 

However, what’s not so remarkable is the concerning development of the CFTC, which is investigating Jump Crypto, a crucial entity within the Solana network. Jump Crypto has played a vital role in shaping Solana's infrastructure, having contributed to the creation of the Pith Network Oracle and the Wormhole bridge and collaborating on the development of Solana's Fire Dancer client. The potential implications of this investigation on Solana's growth are uncertain. They may hinge on the extent to which other companies within the ecosystem are involved in developing Fire Dancer.

Thankfully, the attention Solana received regarding the Jump Crypto CFTC investigation has been overshadowed by the announcement that VanEck had applied for a Solana ETF in June. Nevertheless, despite the recent greenlighting of similar ETFs for Ethereum, industry insiders believe it's unlikely that Solana will receive ETF approval anytime soon.

However, several analysts have pointed out that the approval of a SOL ETF may become more feasible if there is a change in the presidential administration following the November elections, as this could lead to a shift in leadership of the SEC. Despite being a challenging prospect, a growing consensus across party lines in Congress supports cryptocurrency. Bloomberg ETF analyst Eric Balchunas emphasized that the deadline for the SOL ETF approval is expected to be around March next year. Additionally, 21Shares submitted an ETF application after VanEck, and it is anticipated that other asset managers may also pursue similar ETF offerings, opening up exciting possibilities for SOL's future.

Predictions regarding the impact of a potential SOL ETF on the price of SOL vary widely, similar to the discussions around Bitcoin and Ethereum ETFs. While some forecasts suggest that the ETF may have minimal influence on SOL's price, others anticipate a significant surge, possibly exceeding its current value by nine times. One piece of evidence supporting the bullish outlook is the substantial premium at which Grayscale’s Solana Trust (GSOL) is trading in comparison to its net asset value, indicating institutional optimism.

According to CoinBureau's crypto specialists, SOL's optimal price ceiling during a strong market surge is estimated to be around $1200. Notably, this forecast aligns with the 9x growth predictions made by other industry experts, and those ETFs will likely launch when the crypto bull market reaches its most enthusiastic and optimistic peak, potentially leading to a significant surge in SOL's price.

SOL Price Outlook

SOL has been an outlier among altcoins, bucking the trend of recent price crashes. Instead, it has been trading within a tight range of $130 to $200 since late February. It is essential to highlight that a similar scenario is observed with Bitcoin, Ethereum, and other major altcoins. Typically, periods of consolidation are followed by significant breakouts either above or below the established range.


Source: CoinBureau.com

The chart above indicates that SOL could reach $300 if it breaks out upwards in the upcoming weeks or drop to $90 if it breaks out downwards in the same period. However, predicting the direction SOL will take is not determined by knowing its potential high or low points. To resolve this, we need to examine the factors influencing the new supply, such as selling pressure, and the factors driving demand, known as buying pressure.

The price is influenced by supply and demand dynamics. SOL's supply has reportedly risen by approximately 20 million units over the past three months. If all the newly supplied tokens were sold, SOL trading at an average price of $150 could have resulted in up to $3 billion worth of selling pressure in under four months. However, despite this significant supply increase, the demand for SOL seems even more extraordinary.

A few key statistics to consider:

  1. Notably, the Phantom wallet has surpassed 4 million downloads, marking a significant milestone. It was reported to have reached 3 million downloads just a few months prior, as highlighted in a recent Solana updates article, showcasing its rapid growth.
  2. DAP radar indicates that Solana has recorded over 5.5 million unique active wallets in just three days. This figure represents four times the 1.4 million wallets recorded in March. Additionally, DApp Radar has observed a 50% rise in active wallets within the past month.
  3. Solana's DeFi protocols have maintained a total value locked of approximately $4.7 billion, even as the price of SOL has dropped by 20 – 30% from its recent peaks. This is noteworthy as it indicates that fresh funds are flowing into Solana's DeFi protocols despite the decrease in price and the overall negative market sentiment.
  4. Furthermore, this trend is supported by data from Solscan's analytics page, which shows that the daily number of active Solana wallets has remained stable, hovering around the 900,000 mark.


Source: Solscan

Solana’s Roadmap And Catalysts That Could Boost SOL

Returning to SOL's current and future price action, its resilience can be attributed to the strong demand aspect of the supply-demand dynamic. The ongoing uptrend in the factors driving demand indicates a greater likelihood of SOL breaking higher. Put simply, there is a higher probability of SOL surging to $300 in the coming weeks than plummeting to $90, representing a significant 50% increase from its current value. However, it's important to note that a break above $200 is required for this scenario to play out, and that would need a catalyst to trigger it.

It just so happens that Solana has a slew of forthcoming milestones that could act as a growth catalyst. One of the most significant is Fire Dancer, a cutting-edge validator client generating much buzz. To provide a quick update, Fire Dancer is a game-changer because it has the potential to enhance Solana's speed significantly. A member of the Fire Dancer team shared that it will initially boost Solana's transaction capacity to 20,000 transactions per second (TPS) with plans to increase that number to a whopping 1 million TPS gradually.

Solana has achieved a peak speed of approximately 7,000 TPS to date. However, its maximum potential TPS is believed to be around 65,000. A Fire Dancer team member disclosed that the actual figure is nearer to 200,000 TPS. Nevertheless, exceeding the indicated TPS level brings about significant challenges, implying that scaling up to 1 million will necessitate additional modifications.


Source: Chainspect

Concerning the project schedule, Anatoly Yakovenko, the founder of Solana, has repeatedly stated in interviews that his team aims to launch the initial version before the September Breakpoint conference. The recent announcement of a bug bounty program for Fire Dancer suggests that the release will likely happen sooner rather than later. However, it’s worth noting that Jump Crypto, a company assisting with the development of Fire Dancer, is currently under investigation by the CFTC, which may impact the project's timeline.

Additionally, Solana has experienced a string of technical problems in the past. A team member from Solana's Jito validator client recently shared in an interview that Fire Dancer may also face some challenges. If Fire Dancer propels SOL above the $200 mark, the driving force behind its surge past $300 will likely be unveiled at Breakpoint.

Notably, previous conference announcements have significantly impacted the price. In addition to Fire Dancer and any other announcements to be made at the conference, Solana has two other important events coming up that could increase the value of SOL. One of these is creating a formal on-chain governance structure, a topic discussed in Solana’s forums

A well-defined governance framework can help Solana shift towards a more decentralized model, which may alleviate the regulatory pressure the SEC has exerted on it. In case you missed it, the SEC has identified SOL as an unregistered security in its legal actions against major cryptocurrency exchanges Binance and Coinbase.

A crucial upcoming development that could propel SOL's growth is the potential passage of stablecoin-related legislation in the US, although its timing is uncertain. Austin Federa, Solana Foundation's strategy head, recently asked crypto-friendly politician Bill Haggerty in an interview about this matter. Unfortunately, Haggerty's response suggested that the regulatory approval process would be prolonged due to ongoing Democratic opposition in the Senate despite widespread bipartisan support. This delay may be why major SOL stakeholders have been increasing their financial backing of Republican candidates.

The outlook for Solana over the next eight months is quite eventful. With Fire Dancer on the horizon, followed by the pivotal Breakpoint event, upcoming stablecoin regulatory developments (should the Republicans prevail in the November elections), and a potential ETF launch early next year (again, contingent on a Republican win), the path is paved for SOL to potentially reach the $1000 mark before the crypto market's bull run concludes. However, achieving this feat will hinge on various external factors beyond Solana's control falling into place.

Solana Challenges

One of the primary obstacles facing Solana is regulatory issues. Despite the optimism around stablecoin payments, the negative impact of the Jump Crypto CFTC investigation cannot be ignored. If the legal proceedings escalate to the point where Jump is forced to reduce its involvement in the cryptocurrency sector, it could have significant consequences. This scenario is not merely a matter of speculation.

The leader of Jump's crypto business resigned recently. If a major company within the Solana network reduces its operations, it could considerably delay the progress of Fire Dancer and similar projects. The Securities and Exchange Commission's (SEC) continued examination of Solana as a financial asset is expected to persist for the foreseeable future. Moreover, if the Democratic party gains control of Congress in the upcoming election, Solana can likely expect even more rigorous oversight.

Solana faces a second hurdle: stiff competition. With its impressive speed, it's easy to overlook that it's not the only high-performance Layer 1 blockchain on the scene. Rivals like Aptos and Sui, dubbed "Solana killers," are rapidly gaining traction in the Layer 1 space. Anatoly has publicly expressed concerns about these projects' threats, and for good reason. The technology behind Aptos and Sui has been years in the making, originating from Facebook's Libra project, underscoring the significant resources and expertise behind these emerging competitors.

In any case, Aptos and Sui possess a dual advantage, boasting cutting-edge technology and established connections. Furthermore, developers have found the Move programming language highly accessible and easy to work with. Although Aptos and Sui have not yet reached the same level of adoption as Solana, any technical glitches experienced by Solana could prompt a mass exodus, similar to how alternative platforms gained traction when Ethereum's high gas fees became prohibitively expensive.

This leads to the third hurdle, namely development complexity. Solana's developers, including Anatoly, often joke that building on Solana is as painful as "chewing on glass," making it precarious when rival platforms offer seemingly effortless coding experiences. A notable example is Soulend, formerly one of Solana's most prominent DeFi protocols, which has opted to deploy on Sui as Suilend. While this doesn't imply that Solend has completely abandoned Solana, it does suggest that developers and projects within the Solana ecosystem are actively exploring alternative blockchain options.

The Bottom Line 

Despite everything mentioned, Solana stands out as a leading cryptocurrency project, and its native coin, SOL, is expected to achieve significant growth in the near future. If Solana successfully tackles its obstacles and achieves its milestones, SOL could pleasantly surprise investors. Many experts in the crypto space share this sentiment, predicting that Solana will be among the top-performing large-cap cryptocurrencies. 

Some believe that SOL may even lead the pack regarding percentage gains, which could positively impact the altcoins within the Solana ecosystem. They may also witness substantial gains compared to their counterparts, potentially leading to impressive growth.

Many will know that Markethive’s token, Hivecoin (HVC), has been successfully integrated into the Solana blockchain. Solana stands out as the only blockchain capable of meeting the massive demands of Markethive's decentralized social market broadcasting network, which generates ever-increasing amounts of data and content. Other blockchains lack the technological capabilities to support an application of this scale and complexity.

Projects like Markethive that have pioneered a specific field and offer genuine utility to the broader community possess a unique advantage. Markethive belongs to the category of first movers and provides a wide range of practical applications, enabling it to gain a significant portion of the market. 

Leveraging Solana's technology, Markethive is well-positioned to become the premier choice for a decentralized, uncensored platform that integrates all aspects of social media, marketing, broadcasting, publishing, eCommerce, and business facilitation thereby creating a thriving entrepreneurial ecosystem for individuals from all backgrounds. 

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

World Economic Forum 2024 Global Economic Outlook: What Are The Chief Economists Predicting For Our Future?

World Economic Forum 2024 Global Economic Outlook: What Are The Chief Economists Predicting For Our Future?

2024 has been a year of elections as many countries worldwide have been gearing up for the polls. Nevertheless, as the campaigns and debates gain momentum, it's essential to remember that the popular vote has never chosen the individuals who wield the most significant impact on our daily lives. The World Economic Forum (WEF) is a prime example of this phenomenon. The WEF's ‘experts’ have been diligently crafting their newest economic prediction, which will inevitably have far-reaching implications that will affect everyone, regardless of our individual opinions.

This article analyzes the latest report from the WEF's chief economists, who express cautious optimism regarding the global economy's future. Despite their hopeful outlook, they anticipate various challenges ahead. However, a critical flaw in their analysis is the failure to recognize that the policies they promote often have adverse consequences for the general population. Ultimately, the WEF and its partners have overlooked a crucial aspect of the larger issue: their own role as a contributing factor to the problem.


Source: World Economic Forum

The Economists’ View, Full Of Surprises Or Not

This article summarizes the "Chief Economists Outlook: May 2024" paper authored by numerous leading economists worldwide. This publication, updated quarterly, presents the collective views of these experts. The document commences with a brief overview, indicating that most economists anticipate a more robust global economy than the previous edition. 

For perspective, in January, about 56% of economists thought the global economy would be weak. However, the latest data shows that only 17% share this belief. Not surprisingly, almost 100% of economists believe that geopolitics and politics will cause volatility. The elites appear to be particularly apprehensive about the possibility of a second Trump presidency.

It’s also not surprising that economists' prevailing view is that the US economy will maintain its strength while the EU's economy will weaken further. Surprisingly, they forecast that certain central banks, such as the European Central Bank, will cut interest rates, whereas others, like the Federal Reserve, will hold rates steady. 

It’s also surprising that economists predict a global economic recovery in the next few years. It’s surprising because there’s a strong correlation between GDP and energy production, and many countries are not pursuing the best energy policies. The WEF is partially responsible for this situation. 

According to the WEF's economic experts, these subpar energy policies are expected to boost economic growth miraculously. Ironically, their research reveals the actual sentiment on the ground, where numerous countries are skeptical about these policies' ability to stimulate economic growth. It's no surprise: they're unlikely to deliver.

Politics And Geopolitics

The paper's initial section reveals a prevailing consensus among WEF economists as “a mood of cautious optimism.” While many experts anticipate a thriving economy, the outlook is predicated on the assumption that political and geopolitical factors will not pose a significant threat to economic growth. The Middle East and Eastern Europe are currently the most pressing concerns regarding global hotspots. As we've witnessed, any intensification of the conflict between Israel and Hamas, along with its proxies, could have an even greater impact on oil prices.

The widespread use of oil in various industries would trigger a broad-based price surge, prompting central banks to maintain or increase interest rates to manage supply-side inflation effectively. The practical effect would make existing debts more costly and borrowing more challenging, ultimately leading to a slowdown in economic activity. It's worth noting that the economy already relies heavily on debt.

In Eastern Europe, the increasing tension is not primarily driven by economic factors as it is unlikely to cause additional disturbances to supply chains and similar aspects. Instead, the primary concern is that the situation could destabilize the region by casting doubt on the legitimacy of its institutions, both in the eyes of Europeans and other international actors. This is particularly relevant in light of the EU's consideration of releasing $300 billion in assets it seized from Russia to Ukraine.

It's worth noting that this move could have significant implications for the global financial system, potentially leading other countries to reassess their investments in Europe and European assets. To mitigate this risk, the EU has only released the profits generated by the seized assets rather than the assets themselves. However, the US is reportedly urging the EU to utilize the underlying assets to support Ukraine, and the EU is understandably cautious, given the potential for negative consequences.

In a related development, the US has been urging the EU to impose stricter measures on China. Taiwan is another potential hotspot that could trigger market instability. Notably, Taiwan is responsible for manufacturing most of the world's microchips, and any disruptions to its production or trade could have catastrophic consequences. It's intriguing that China has been escalating its hostilities towards Taiwan, suggesting it may not depend on Taiwan's unique microchip production capabilities.

Geopolitical experts speculate that China may have gained the capability to produce advanced chips independently, raising concerns about potential implications for Taiwan. Such action doesn't necessarily have to take the form of a full-scale invasion; a trade blockade would be sufficient to cause economic disruption. The fact that the US and EU are hastening to establish their own chip-making facilities suggests that such disruptions could be unavoidable.

On the political stage, a surge in nationalist parties has been unfolding globally, a trend that has been anticipated for some time. During difficult times, individuals often point fingers at the wealthy and immigrants. This sentiment seems true across various nations and challenges the globalist-focused economy because nationalist parties prioritize the interests of their citizens, for better or for worse. As highlighted in this article, globalism is failing, which will be painful in the short term. It will initially cause inflation to increase while asset prices remain high; wages will eventually follow. 

The economists surveyed by the WEF anticipate that inflation will persist, and they attribute this to housing and energy rather than nationalism. Specifically, housing prices have increased due to globalist policies restricting construction and accelerating immigration, while globalist policies concerning energy have led to increased expenses across the board. According to the WEF's experts, prices may surge by 30% if tensions in the Middle East intensify.

They also note that a significant portion of global trade, 20-40%, occurs between geopolitically unaligned countries, which poses a challenge for European and Asian economies. Hopefully, the WEF’s economists' forecast regarding the Middle East isn't an accurate prophecy.


Source: World Economic Forum

Unpredictability, Complexity, ESG

In the document's second section, economists from the WEF expand on the “challenging Global landscape.”  They highlight how international conflicts, domestic strains, technology, and high interest rates have led to an unpredictable environment for everyone. For those unaware, investors generally dislike uncertainty more than any other factor. Investors don't mind a world war so long as it's certain because they can price it in and plan. 

So far, the impact of this unpredictability has been relatively subdued, likely due to investors' assumption that the money printer will be turned back on. However, from the WEF and its economists' standpoint, the problem is not unpredictability; it’s complexity. The above factors contribute to this complexity, posing challenges for the WEF central planners' decision-making. In reality, they shouldn't be making these decisions in the first place.

WEF economists are concerned about the growing divergence between the data reported by governments and the actual experiences of individuals. In their own words, they quote, “The emergence of divergence between modestly encouraging economic data and stubbornly gloomy public sentiment.”  This disparity has been described as a "challenge" by the WEF's economists, who have refrained from advocating censorship to address the issue in the name of misinformation, disinformation, etc. If this challenge continues, though, don't be surprised to see such censorship

Adding fuel to the fire, the WEF's economic experts appear oblivious to the underlying reasons behind this growing disparity. They attribute it to simply being a matter of inequality and uncertainty, which barely begins to address the issue. It's becoming increasingly clear to many that the system is unfairly skewed in favor of the WEF itself. A prime example of this bias is a section in the report outlining the factors that will supposedly influence business decisions, as the WEF's economists dictated. This section of the paper outlines the factors affecting business decisions as perceived by the WEF's economists, which provides a telling example.

To clarify, businesses were not directly questioned; instead, a panel of academic experts was consulted to provide insights into businesses' perspectives. The responses were unsurprisingly disconnected from reality. For instance, WEF economists believe that typical businesses consider geopolitics in their day-to-day decision-making. In fact, most companies focus more on inflation and labor issues rather than geopolitics. 

Interestingly, the study's authors rank labor as one of the least significant factors for businesses, which contradicts many businesses' actual priorities. This disconnect may explain why ordinary individuals are pushing back on the policies of those in power.

It's intriguing that the WEF's economists discovered that corporations are increasingly issuing as many bonds as possible. They believe these companies are apprehensive about what lies ahead, which suggests that they are concerned about the future and are borrowing heavily to prepare for future challenges.

In a more optimistic light, the WEF's research revealed that a majority—75%—of top business leaders harbor doubts about ESG principles, while nearly a quarter have rejected them altogether. This finding is noteworthy, especially considering that ESG has gained widespread traction in recent years, largely thanks to the efforts of influential asset managers such as BlackRock.

The WEF's economists then pivoted to another pressing issue: fiscal and monetary policy. Fiscal policy encompasses government spending and taxation, while monetary policy involves central banks and interest rates. As previously mentioned, the WEF's economists predict that interest rates will decrease in the EU while remaining relatively stable in the US and other regions.

Previously, central banks worldwide had aligned their monetary policies to mirror the actions of the Fed. This was done to avoid potential repercussions such as Japan's significant yen depreciation when central banks implemented divergent interest rate strategies. The European Central Bank faces a similar risk with the euro, as it may not be sustainable for the ECB to maintain elevated interest rates for an extended period. Oddly enough, economists at the WEF anticipate a trend towards more constrained fiscal policies, as governments apart from the US seem restricted in their ability to increase spending. 

The projection for Europe is particularly surprising, considering the EU's strong commitment to funding ESG-related initiatives. What's most peculiar is that the paper's authors are puzzled by the expectation that the EU will reduce its spending. The discrepancy between monetary and fiscal policies in the Eurozone is believed to be a contributing factor. If not managed carefully, this could lead to the euro's collapse. That's why the ECB hastened the rollout of a digital euro to oversee the European economy.


Source: World Economic Forum

WEF Predictions, Policies  

In the third section of the report, the WEF economists offer their projections for the future of the global economy. These predictions focus on the long term, specifically the next five years, which makes sense as it aligns with the WEF's goals it’s trying to achieve by 2030. Notably, the WEF's economists observe that global growth has slowed since the turn of the century.

They are significantly concerned about the possibility of a further deterioration in this global slowdown. This anxiety stems from the fact that almost 25% of the economists at the WEF think that the world will not be able to reach its pre-pandemic annual growth rate of 4%. This pessimistic outlook could be driven by varying perspectives on how much technologies such as AI can enhance productivity, with half of them expressing doubt about its significant impact.

The realization is striking, as the WEF has been optimistic about technologies such as AI due to their implicit promise to replace the populace and preserve the world's marvels exclusively for the privileged few. They still believe AI will drive growth, but not to the extent they initially anticipated.

A notable observation is the disparate way the WEF's economists perceive the impact of advancements like AI on developed and developing nations. Their perspective suggests that developed countries will reap the most significant benefits. In contrast, developing countries will only experience limited and incremental improvements as if this disparity was intentionally designed into the system.


Source: IPSOS

In 2022, an alarming headline emerged stating that, based on a survey conducted by the WEF, individuals in developing nations have a strong affinity for the metaverse. This assertion appears counterintuitive, suggesting a concerning implication that the WEF may be aiming to keep these countries in their place. This sentiment is also reflected in the WEF economists' paper.

Consider the following quote: 

“There was a lack of consensus on the role of other industries, including mining, supply chain and transport services, manufacturing, fossil fuel energy and materials, retail and wholesale of consumer goods, and financial professional and real estate services in global growth.” 

Consider that mining, manufacturing, and fossil fuel industries are the foundation for many developing nations. Notably, WEF economists hold differing views regarding these industries, even though they are essential for the advancement of developed countries. After all, artificial intelligence relies on hardware.

The paper's concluding section focuses on the crucial aspects of policy priorities that will foster economic growth in the next five years. The WEF economists emphasize the significance of these policies, which are likely to be adopted by most countries, given the significant influence the WEF wields over government decision-making processes.

It's a bitter irony that the WEF's economists claim that the global economy could have grown by an additional 50% if capital had been allocated more efficiently in recent years. What's striking is that they seem oblivious to the fact that their own policies have created an environment that encourages this misallocation of resources. This oversight raises severe concerns about the kind of misguided policies we can expect from the WEF and its political cronies. The nature of these policies will likely vary depending on whether they are aimed at developing or developed economies.

Developed countries will prioritize education, infrastructure, improved financial access, and institutional development. While this may seem positive in theory, in reality, education can lead to indoctrination, infrastructure can result in dystopian technologies such as digital IDs, access to finance can mean giving control of your money to a single entity like Black Rock, and more institutions can translate to more unaccountable and unelected organizations influencing domestic affairs.

The economic policies advocated by the WEF economists are similar for developing countries, with a minor variation: innovation. While innovation is a crucial factor in developed countries, it supposedly has less impact in developing countries. At first glance, this might seem like an anomaly, but it actually reveals a more profound truth.

The economists at the WEF emphasize that implementing trade protectionism would have adverse effects regardless of a country's economic situation. In other words, don't you dare put the well-being of your population above our profits. Observing the outcomes for countries that choose this approach will be intriguing.

Economists' Trustworthiness: A Call for Critical Thinking

It is necessary to acknowledge that economists may not always tell the truth when delivering information to different audiences. Therefore, it is wise to approach the content of this paper with caution, as economists are known to provide misleading information to the general public. Nevertheless, the statements made by the WEF economists hold some truth. The global landscape is facing growing instability due to geopolitical and political challenges. However, the underlying concern goes beyond this surface-level analysis, pointing to the inherent instability of centralization.

Visualize the process of stacking coins one on top of the other. Initially, the stack is steady, but with each additional coin, the stability decreases. Adding supports can temporarily enhance stability, but the more coins you stack, the greater the instability, leading to an inevitable collapse. This illustrates that instability is a fundamental characteristic of centralization. It's easy to overlook that centralized systems, such as those developed by organizations like the World Economic Forum, have been in development for decades.

As their rigid structures have grown increasingly fragile, those in power have tightened their grip, but the populace has reached their breaking point. The positive development is that a growing number of people recognize that the challenges they encounter are a direct result of the systems established by influential organizations like the WEF rather than being caused by scapegoats like immigrants, the wealthy, or politicians themselves. The downside is that the WEF is aware of this growing awareness and is unlikely to take it lying down.

Censorship has been on the rise, and although there are still some areas where individuals can express themselves freely and gather peacefully, these spaces are being threatened from multiple directions. Legal action, regulations, market manipulation, and infiltration by WEF-affiliated entities applying the usual totalitarian tactics contribute to this trend. The irony is that as these tactics become more brazen, they risk fueling a growing distrust of institutions, potentially leading to a breakdown in social order and widespread chaos.

Let's not be naive; the World Economic Forum would seize this opportunity, and some believe it's actively working to bring it about. The WEF has explicitly advocated for a global reset since the pandemic outbreak. Although its efforts have been unsuccessful so far, it's unlikely to give up. The only way to achieve a reset is to dismantle the current system, and we may be inadvertently playing into the hands of those planning a deliberate collapse.

Speculation aside, the answer to the current problem is establishing a new framework composed of decentralized organizations crafted for and by the average person. This is the vision that the cryptocurrency sector strives to realize, and it's why the World Economic Forum has been attempting to insert itself into the process. Thankfully, those committed to creating decentralized platforms and institutions are not the type that would ever collaborate with the WEF, no matter the reward. Countless individuals are dedicating their time and effort to this endeavor, and if you wish to effect genuine change, consider joining them.

 

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

BlackRock Proposes Its New Retirement Plan Using Your Money: How Will This Impact Your Finances? Discover Your Options

BlackRock Proposes Its New Retirement Plan Using Your Money: How Will This Impact Your Finances? Discover Your Options.

In mid-2019, BlackRock demonstrated its prophetic capabilities by forecasting the financial and monetary implications of the pandemic before it had even occurred. Considering the company's stature as the world's largest asset manager, some may argue we should heed its insights. 

Recently, CEO Larry Fink released his yearly correspondence with investors, offering subtle hints about potential future developments and BlackRock's strategies. This article breaks down the key takeaways from the letter, providing insight into what it may imply for individual investors and the market at large. We also explore how you can alleviate concerns and secure your financial future. 

To begin with, Larry Fink's yearly correspondence with investors has a distinct tone from his annual address to corporate leaders. BlackRock holds significant stakes in many of the world's largest corporations. Fink's letter to CEOs served as a guide for corporations, outlining what actions they should take. However, this year's letter has yet to be released.

Similarly, BlackRock's CEO, Larry, writes an annual letter to its investors outlining its key objectives. The letter being discussed today is an overview of this annual communication. Notably, the initial section of Larry's letter is particularly striking, bearing the title “Time to rethink retirement.” It's worth noting that this topic is especially relevant, as numerous countries globally are increasing the retirement age due to fiscal constraints stemming from a shortage of taxpayers to fund pension systems.


Source: BlackRock

The Capital Markets

Inspired by his parents' financial struggles in retirement, Larry founded BlackRock to help others build a comfortable nest egg. In his letter, he highlights the importance of investing in capital markets to achieve this goal. Capital markets encompass a wide range of financial instruments, including stocks, bonds, and private investments, providing opportunities for individuals to grow their wealth over time.

Influential investment firms like BlackRock are expanding their reach into multiple areas, including purchasing single-family residences that are subsequently leased to individuals. This trend has sparked concerns about the escalating cost of housing.

In the second portion of his letter, Larry provides a concise overview of the evolution of capital markets in the United States, highlighting two primary methods of wealth accumulation: saving funds in a bank or investing. He attributes the country's impressive performance since the 2008 economic downturn to the size and complexity of its capital markets. Notably, Larry takes pride in his role as one of the creators of mortgage-backed securities, which were instrumental in causing the 2008 financial crisis.

In hindsight, it's not entirely unexpected given Larry's academic background in political science and business administration, which didn't exactly prepare him to be a market expert. Nevertheless, Larry emphasizes that a crucial lesson learned is that a robust banking system alone is not enough to drive economic growth; a country also needs thriving capital markets. He observes that this realization is gaining traction globally, and Larry shares that he has been engaged in discussions with governments worldwide on this topic.

He details his extensive travels last year, visiting 17 countries where he engaged in discussions with top government officials, including presidents and prime ministers. According to him, these leaders are eager to expand their financial markets, and conveniently, BlackRock is poised to assist without any underlying motives, of course. What's alarming, however, is that Larry discloses that Indian authorities are discontent with the widespread practice of Indians using gold to save and store personal wealth. Instead, they want to see this wealth funneled into the banking system, and Larry is likely keen to see it flow into BlackRock's coffers.

In any case, it implies that governments view gold as a threat. Larry appears to share this viewpoint, pointing out that gold has not performed as well as the Indian market and that investing in gold does not contribute to the Indian economy. So, will we see restrictions on gold in the countries Larry advises, citing economic vulnerability as the reason?

Larry proceeds to uncover BlackRock's ultimate objective. He asserts that investing in capital markets is not just desirable but essential for two key reasons. Firstly, it is the sole means of financing retirement plans, and secondly, it is the only way to develop infrastructure that aligns with environmental, social, and governance (ESG) principles. In essence, this constitutes the endgame.

For those who may not be aware, Environmental, Social, and Governance (ESG) is a concept promoted by influential financial institutions such as BlackRock and major banks like Bank of America. ESG's ultimate goal is to support the United Nations' ambitious sustainable development goals (SDGs), which envision global adoption of dystopian technologies like CBDCs, digital IDs, and smart cities by 2030. 

Retirement And Demographics

In the third section of his letter, Larry raises concerns about how individuals can financially support their retirement, given the increasing life expectancy. By now, you'll know the answer is to give all your money to BlackRock. Case in point, Larry notes a joint venture BlackRock has with an Indian retirement firm that invests in digital infrastructure. In other words, you will own nothing and be happy, and BlackRock will use your retirement savings and investments to make it happen. It appears BlackRock is making big bets on India, presumably because its workforce population will be one of the last to peak sometime around 2050. 


Source: BlackRock

In a surprising turn, Larry shifts the conversation to the United States, likely to address potential concerns about BlackRock's increasing involvement in India. With a hint of irony, Larry acknowledges that the financial difficulties younger generations face directly result from policies implemented by his generation, the Baby Boomers.

As you may have anticipated, BlackRock has devised a solution to rescue the next generation. Following a stark warning that the US Social Security fund will be depleted by 2034 and recommending a delayed retirement age, Larry proposes three methods to address our financial future.

The first approach is to compel employees to allocate a segment of their salaries towards investments in the capital markets, which would be managed by firms such as BlackRock. According to Larry, the U.S. will implement similar legislation next year, mandating companies with 401K plans to automatically register new employees into the program.

This ties into BlackRock's second strategy for securing our financial futures: exerting influence over how we utilize our retirement funds. In essence, BlackRock aims to manage the savings you've set aside for your golden years, effectively gaining control over how you spend them during retirement. 

The silver lining is that BlackRock's proposal is a product with no legislative backing or hints of a looming obligation. However, the concern is that a similar law could be proposed in the future. If baby boomers were to withdraw too much of their retirement funds, the entire capital markets system could collapse, a risk highlighted by prominent macroeconomic experts like Mike Green.

Larry refers to BlackRock's plan as a “revolution in retirement” and believes it will dispel fear and instill hope. Earlier in his letter, Larry implied that the third way to fix our financial future is to fix the demographic problem, meaning having more kids or at least increasing immigration. But no, all Larry said was what was mentioned a few moments ago: raise the retirement age. 

Larry’s stance might be related to his belief that machines can replace humans. During a recent World Economic Forum discussion panel, he explicitly stated, “Countries will rapidly develop robotics and AI and technology, and the social problems that one will have in substituting humans for machines are going to be far easier in those countries that have declining populations.” 

It would seem that BlackRock's interests align with declining populations. This is unsurprising, given that a shrinking population is ESG-friendly: fewer people mean fewer emissions. If this notion disturbs you, Larry doesn't seem to understand why. Per his letter, “There's so much anger and division, and I often struggle to wrap my head around it.” Perhaps he needs to reflect on his role in the matter. 


Source: SigmaEarth

Infrastructure And ESG

In the fourth part of his letter, Larry discusses the ESG-aligned infrastructure that BlackRock aims to develop using your retirement funds. He states, "The future of infrastructure is a public-private partnership,” meaning BlackRock is partnering with your government. Larry asserts that this partnership is crucial for financing infrastructure projects as governments are burdened with significant debt and cannot undertake it independently.

He points out that the US government's debt is increasing rapidly and that fewer and fewer governments are buying US Government debt. Interestingly, a lack of financial support was the main reason why the precursors to the SDGs, the Millennium Development Goals (MDGs), ultimately failed.

Larry then goes one step further, saying, “More leaders should pay attention to America's snowballing debt. There's a bad scenario where the American economy starts to look like Japan's in the late 1990s and early 2000s when debt exceeded GDP and led to periods of austerity and stagnation.” 

Larry argues that there is an alternative solution to addressing the national debt beyond cutting taxes and spending. He suggests that if the US economy grows significantly, it could enable the US to repay its debt. However, he fails to note that this growth will simultaneously cause inflation

To drive growth in the U.S., Larry suggests focusing on energy investments, particularly in unreliable forms of electricity. Ironically, the current high costs directly result from inadequate investment in dependable energy sources, which can be attributed to the emphasis on ESG considerations. Asset managers like BlackRock have played a significant role in this underinvestment, exacerbating the issue.

Larry's admission that oil and gas will remain essential for “a number of years” is a gross understatement, considering they supply half of the world's energy needs. Surprisingly, Larry praises Germany as a model for effective energy policy despite the country shutting down its final nuclear power plant last year. This decision coincided with Germany's struggling economy, which faced challenges from high energy expenses due to sanctions and renewable energy sources.

Larry highlights Texas as an example of a state struggling with energy issues, attributing the problem to growing demand rather than its shift towards unpredictable renewable energy sources. Ironically, he discloses that BlackRock is investing in initiatives that further increase dependence on these intermittent sources. Moreover, Larry outlines a series of investments BlackRock is making to facilitate a “fair energy transition,” which is primarily focused on maintaining warm homes during winter while seemingly downplaying the importance of other energy-related concerns.

Luckily, Larry discloses that BlackRock is allocating more resources to dependable energy sources than to less dependable ones. This is because the company's clients are driving this demand. It's worth noting that several individuals and institutions had previously threatened to withdraw their investments due to BlackRock's ESG policies, and some actually followed through on those threats.

However, this is just the tip of the iceberg regarding BlackRock's double standards. Larry asserts that renewable energy sources reduce a nation's reliance on foreign powers, but this claim is misleading. The reality is quite the opposite. China supplies 90% of the necessary materials for these renewable energy sources, so every green energy infrastructure depends on the Chinese Communist Party (CCP). This raises questions about who truly holds influence within BlackRock.

BlackRock’s Plans

Larry outlines BlackRock's strategic trajectory in his letter, detailing the company's partnership with Global Infrastructure Partners (GIP), a leading international infrastructure investment firm with which he appears to have personal connections. Additionally, Larry intends to expand his travels and engage with more leaders globally, promoting BlackRock's strategy as the optimal choice. While he doesn't explicitly state it, his comments imply that BlackRock's growth in assets under management is attributed to foreign sources, thanks to his lobbying efforts.

If you weren't aware, BlackRock's portfolio has surpassed a staggering $10 trillion in value and is still growing. To offer a sense of scale, this would make BlackRock the third-largest country by GDP. Furthermore, this immense wealth would be sufficient to acquire nearly half of the US equity market, although BlackRock already wields significant control through its substantial voting shares. According to Larry, the company plans to maintain its investment strategy, which includes early-stage ventures.

Looking ahead, Larry emphasizes that “Our strategy remains centered on growing Aladdin, ETFs, and private markets, keeping alpha at the heart of BlackRock, leading in sustainable investing, and advising clients on their whole portfolio.” For those who may not know, Aladdin is BlackRock's proprietary trading platform.

Larry mentioned that moving forward, BlackRock's primary focus on the private market will be ESG infrastructure. In terms of ETFs, they plan to increase ETF adoption further and launch new ones, particularly highlighting Bitcoin ETFs. This shift hints at the possibility of more crypto ETFs in the pipeline, including those for Ethereum. Additionally, Larry highlighted that BlackRock will increasingly prioritize fixed income, specifically government bonds, now that interest rates are “near long-term averages.”


Source: BlackRock

BlackRock's move is noteworthy as it indicates that the company anticipates that interest rates will remain stable, which goes against the views of those who predict rate decreases. Following a boastful mention of BlackRock's impressive 90-fold increase in stock value over the past 25 years, Larry highlights the company's acquisition of GIP, an ESG infrastructure firm, and the subsequent appointment of its CEO, who happens to be a friend of Larry's, to BlackRock's board. Who needs crony capitalism when you've got nepotism disguised as ESG?

In all seriousness, Larry concludes by asserting that BlackRock is merely a tiny component of a broader, global phenomenon that he believes is improving the lives of ordinary individuals. However, in reality, this phenomenon primarily enriches the wealthy elite. Larry credits the capital markets and their investors for making this possible, but he fails to mention that a staggering 93% of all stocks are concentrated in the hands of the top 10% of the population.

What Does All This Mean for The Markets And You?

What implications does this have for you and the financial markets? It is crucial to understand that these are distinct entities. One viewpoint is that BlackRock's decision-makers seem alarmingly out of touch with the real world, which is a daunting prospect considering the vast amount of assets they control. The fact that they're holding up Germany as a model for other countries to emulate in terms of energy policy is either a staggering display of ignorance or a cynical ploy, with most people leaning towards the latter interpretation.

Regardless of the circumstances, the outcome remains consistent: wealth becomes increasingly concentrated among the affluent, while the disadvantaged fall further behind. This phenomenon frequently occurs in economies with centralized planning, and BlackRock's most significant mistake stems from this approach. The asset manager assumes that centralized control is the sole means of addressing issues and fostering prosperity to the extent that it collaborates with governments, introduces initiatives such as CBDCs, and limits access to gold, all in the name of economic growth.

This action is not a method for addressing issues and fostering economic growth. Instead, it seems more like a strategy to avoid the collapse of a financial Ponzi scheme. Despite their shortcomings, governments have significantly less debt than banks and asset managers.

Globally, there is a staggering $315 trillion of outstanding debt. Still, the liabilities stemming from complex financial instruments held by banks and asset managers are projected to be exponentially higher, reaching the quadrillions. These instruments are contingent upon the appreciation of underlying assets; if these assets fail to increase in value, the entire derivatives debt structure will collapse, triggering a catastrophic financial meltdown.

Upon closer examination, BlackRock's proposals all boil down to a single premise: entrusting them with your money and allowing them complete discretion over managing it, including determining when it will be returned to you.  The ESG narrative may merely be a ruse to convince people that by handing over their money to BlackRock, they'll be contributing to the greater good. What's particularly unsettling is that Larry appears to have successfully duped many in the US and is now shifting his focus to international markets, where numerous countries eagerly seek investment opportunities, making them vulnerable to his influence.

It's clear that BlackRock's assets under management (AUM) increase whenever Larry travels, and it’s not an exaggeration to label it as deceitful when it leads to insufficient energy infrastructure that financially benefits BlackRock and other venture capitalists. The collapse of Sri Lanka, which previously held the highest ESG score, serves as a cautionary tale. Despite this, BlackRock continues pushing forward with its investments, making the average person worse off. 

This has significant implications for the market landscape. Essentially, poorly conceived ventures will continue to attract excessive investment if they align with ESG criteria. What's particularly irritating is that BlackRock is channeling its ESG investments into startup ventures and private companies, making it challenging for us regular folk as investors to tap into these lucrative opportunities, likely by intentional design.

One approach to capitalizing on BlackRock's ESG fixation may lie in cryptocurrency. A similar trend has emerged in the AI sector, where many companies remain privately held, limiting investment opportunities for the general public. As a result, AI-related cryptocurrencies have become a viable alternative, serving as indirect investment vehicles for those seeking to benefit from AI's growth and development.

It's worth noting that a specific area of crypto, known as ReFi or Regenerative Finance, has garnered attention. While some crypto experts have raised doubts about the legitimacy of certain projects within this niche, they align with ESG criteria. If BlackRock's ESG trend experiences a resurgence, many of these projects could rapidly gain traction. 

Final Thoughts

The reality is that primary energy is scarce due to inadequate investment from BlackRock and similar entities, and the emerging alternatives, except nuclear power, are insufficient to bridge the gap. As this reality becomes apparent, BlackRock will likely face significant investment withdrawals unless its strategy is altered. However, with Larry at the helm, a change in direction appears unlikely, making divestment a probable outcome.

Hopefully, we won't witness another asset manager arising, proclaiming to be the solution to all of humanity's problems. The truth is that most people simply want to be left alone to live their lives without interference. The idea of being "saved” by a grandiose plan or product is unrealistic and ignores the diversity of individual preferences and values. Instead of imposing a one-size-fits-all solution, providing people with the tools and resources they need to live well and make their own choices is more productive.

A Perfect Opportunity For Individual Investors Is Here

Standing out as a beacon of hope against the forces of globalization and corruption is Markethive, a pioneering platform that has been empowering entrepreneurs for years. As a trailblazer in the marketing sphere, it has conceptualized and executed innovative, high-impact strategies tailored to its users. With its sights set on the future, Markethive has transformed into a groundbreaking decentralized ecosystem rooted in blockchain technology and fueled by its cryptocurrency, Hivecoin. Additionally, it aims to expand its offerings by establishing a decentralized crypto exchange. (DEX)

Markethive is actively seeking individual investors to support its mission and vision of becoming a prominent decentralized social media, marketing, and broadcasting ecosystem. According to crypto experts, this is an upcoming crypto narrative in the next bull market. This is significant as it will pay huge dividends in the mid-to-long term for everyone, particularly those participating in the Entrepreneur One Upgrade, which includes the Incentized Loan program. By focusing on its path and purpose, Markethive remains dedicated to providing economic empowerment and identity to all, especially those lacking it.

Markethive is a grassroots project built for the people, by the people, and is of the people that empowers individuals by allowing them to become stakeholders. Markethive is revolutionizing how we approach social media, broadcasting, inbound marketing, and eCommerce, providing a comprehensive system for long-term success, financial autonomy, and a strong community bond. So take advantage of this chance to claim your spot in this pioneering network, where you can positively impact the world and build a lasting legacy of wealth.

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

2024 Updates On Solana Network SOL Price Potential and The Markethive Community Wins

2024 Updates On Solana Network, SOL Price Potential, and The Markethive Community Wins

With Bitcoin's record-breaking surge, the crypto community is abuzz with anticipation for the next altcoin to make a significant leap. And all signs are pointing to SOL. Solana has shown remarkable resilience recently and is on the cusp of achieving significant milestones that could trigger a substantial price surge. This growth potential is an exciting prospect for cryptocurrency enthusiasts and investors.

SOL, a native cryptocurrency of the Solana blockchain, holds immense potential. It covers costs on the Solana network through burning and can be deposited as a stake to operate a blockchain node. SOL tokens are not just for trading and peer-to-peer transactions but also as rewards for staking SOL. Since its introduction to the market in March 2020, it has gained significant popularity, being recognized as one of the top ten cryptocurrencies on CoinMarketCap. With a market capitalization of $61.9 billion and 618,596 SOL tokens in circulation, SOL is poised for a promising future.

As valued members of the Markethive community, we've been at the forefront of Solana's journey, given that our own Hivecoin operates on the Solana blockchain. This previous article from 2022 provides an overview of Solana, highlighting its blockchain's suitability for supporting Markethive's decentralized ecosystem. In this update, I will discuss Solana's recent developments, explore SOL's potential growth, and identify the key factors that could drive its value higher, emphasizing Solana’s crucial role in the Markethive community in this exciting journey.

Solana Has Been Making Waves

Solana, a layer-1 protocol in the blockchain arena, stands out with its exceptional transaction velocity and affordability. It can handle an impressive 50,000 to 65,000 transactions per second, far surpassing Ethereum's current processing power of around 30 transactions per second. This cutting-edge platform deploys smart contracts and decentralized applications, leveraging a proof-of-stake consensus mechanism that ensures ease of access and timestamped transactions to optimize performance.

This article highlights Solana's eight core features, including its groundbreaking Sealevel technology. This innovative feature allows concurrent execution of multiple smart contract runtimes on a single chain, thereby significantly boosting the network's ability to handle multiple transactions simultaneously.

Since its establishment in 2017, Solana has experienced significant growth and development, forging connections with major technology corporations like Google, Visa, and Amazon. These alliances are crucial benchmarks for blockchain initiatives, as they validate the project's credibility, demonstrating real-world adoption, practical use cases, and technological progress.

Solana has forged alliances with a diverse range of notable entities, including Chainlink, a decentralized data provider on Ethereum, and two leading stablecoin issuers: Tether, which has integrated its USDT token into Solana's network, and Circle, whose USDC stablecoin is a critical player in the decentralized finance (DeFi) sector. 

Moreover, Solana has partnered with Asics, a renowned sportswear brand, and Membrane Finance, a Finnish fintech company that has introduced the first Euro-backed stablecoin on the Solana platform. Notably, Solana's collaboration with e-commerce giant Shopify has opened the door for customers to make purchases using USDC, further expanding the utility of the Solana ecosystem.

In May 2023, Solana unveiled the Saga, a cutting-edge Android smartphone boasting robust blockchain capabilities. This innovative device is now accessible to consumers in various countries, including the UK, EU member states, Canada, the US, New Zealand, Switzerland, and Australia.

Concurrently, Solana revealed its collaboration with ChatGPT, a cutting-edge technology born out of Solana Labs. According to Anatoly Yakovenko, the founder and CEO, "AI will make Solana more usable and understandable." The open-source ChatGPT plugin seamlessly merged with Solana's ecosystem, initially facilitating various operations, including NFT acquisitions, token transfers, finding NFT collections, reviewing transactions, and interpreting public account data.

The frenzy surrounding meme coins on Solana kicked off in December 2023 with the debut of the BONK token. The subsequent distribution of BONK to owners of Solana's Saga smartphone led to the device selling out, and it appears to have had a ripple effect, causing Solana's future phone releases to sell out as well. Amidst the chaos of meme coin excitement, Solana made two significant announcements that flew under the radar.

One notable development was Circle's decision to launch its euro-pegged stablecoin natively on the Solana blockchain. It's worth mentioning that Solana was previously designated as the preferred blockchain for Circle's USDC, although it's unclear if this is still the case. Combined with the recent approval from New York regulators for Paxos to issue its assets on Solana, institutional investors increasingly view Solana as a viable alternative to Ethereum.


Source: X

Could a Solana Spot ETF Be the Next Big Thing?

Following the debut of Bitcoin spot ETFs in January, there has been mounting anticipation about the potential for a similar investment product dedicated to Solana. This buzz seems to have originated from statements made by Franklin Templeton, a prominent asset management firm, which emphasized Solana's notable advantages on the social media platform X.

Despite expectations, Bloomberg's ETF analyst James Seyffart casts doubt on the imminent arrival of a Solana ETF, citing the US Securities and Exchange Commission's (SEC) ongoing scrutiny. The SEC's classification of SOL as a security in its recent lawsuits against major exchanges Binance and Coinbase may be a significant hurdle. 

Nevertheless, Solana may still have a chance to secure its own ETF in the future. This prospect appears to hinge on whether SOL is listed on the prestigious Chicago Mercantile Exchange (CME), following in the footsteps of Bitcoin and Ethereum. Industry insiders believe that SOL and other prominent cryptocurrencies like ADA and DOT will eventually be listed on the CME, particularly since the exchange began providing pricing data for these assets in 2022.

Beyond the excitement surrounding ETF speculation, Solana garnered attention in January by introducing Token Extensions, a new development designed to facilitate widespread adoption among institutional investors. Essentially, these extensions represent fresh token standards on the Solana platform, boasting integrated compliance and privacy safeguards to meet the specific needs of institutional users.

Obstacles Facing Solana

Despite the positive developments, Solana's progress was hindered by a significant setback in early February when the network suffered unexpected downtime. This marked the first such incident in nearly 12 months. However, it's important to note that Solana's team swiftly addressed the issue, demonstrating their commitment to maintaining the network's stability. A thorough investigation subsequently identified the outage's root cause as a known bug previously flagged by developers, reassuring us of Solana's ability to overcome challenges and continue its upward trajectory.

Institutional investors prioritize consistency and stability above all else, so Solana's downtime may have affected their trust in the project. Nevertheless, this setback did not prevent Abu Dhabi from collaborating with Solana to develop blockchain solutions. Moreover, it did not deter Sam Bankman-Fried, the embattled founder of FTX, from promoting SOL to his prison authorities.

In addition, Binance revealed in March 2024 that it had put a temporary hold on withdrawals due to overwhelming network activity on the Solana blockchain. Around the same time, Coinbase users may recall similar notifications. Clearly, the Solana network became overwhelmed due to the surging popularity of memecoins, which reached a fever pitch and generated hundreds of millions of dollars in presale revenue on the platform.

Several people drew parallels between these pre-sales and the excitement surrounding Ethereum's initial coin offering (ICO) during the bullish market 2017. Yet, the underlying technical causes of the problems caused by this congestion may be obscure. A deeper understanding reveals that the congestion problems primarily stemmed from the Maximum Extractable Value (MEV) mechanism provided by Solana clients, particularly Jito, which ceased its mempool functionality in March 2024.

To clarify for those who may not know, MEV gives validators the ability to reorder transactions in a way that boosts their earnings. As a result, some transactions may not be processed successfully, leading to exchange problems.

Furthermore, transactions are temporarily stored in mempools before being included in the blockchain. While Solana's fundamental structure does not include a mempool, Jito's block engine, which aims to maximize extractable value (MEV), does have one. As a result, numerous expensive front-running attacks have been carried out on cryptocurrency traders, including sandwich attacks.

In the end, the Jito Labs team sees negative MEV, including sandwich attacks, as a hindrance to the Solana ecosystem, which is why they have decided to suspend it. Nonetheless, they are committed to providing an additional revenue stream for validators and stakers while striving to make Solana the top choice for all users in terms of performance.

On a positive note, Jito's bundle and block processing systems remain functional, and the rewards for maximizing extractor value (MEV) have not experienced a significant decline. Moreover, the attractive economic benefits will likely motivate teams to develop similar mempool solutions inspired by Jito's model.

It's worth noting that Franklin Templeton remains optimistic about Solana's prospects, as evidenced by a recent research report shared with its clients, which argues that memecoins can successfully drive user growth. This suggests that the recent surge in memecoin popularity may be intentionally orchestrated to achieve this goal. The results support this theory, with Solana reportedly surpassing Ethereum in terms of decentralized exchange trading volume.


Source: X

SOL’s Price Movement 

Solana's price movement has been influenced by its recent updates, announcements, and progress, leading to significant SOL value growth. Analysis of on-chain data indicates that this surge in price may be attributed to the popularity of memecoins, with an increase in user activity and transactions on the Solana network. This trend is further supported by the growing adoption of the Phantom wallet browser extension, which has now surpassed 3 million downloads.

Let's take a step back to appreciate the rapid progress: just six months ago, Phantom had 2 million downloads—this stark contrast highlights Solana's astounding growth rate, which is accelerating at an incredible pace. A closer look at on-chain data reveals a remarkable surge in Solana accounts, with growth rates reminiscent of the crypto market's peak in 2021.

According to DappRadar's statistics, the Raydium DEX on Solana has attracted nearly 1.3 million unique wallets, while the Magic Eden NFT Marketplace has gained 300,000 new wallets. This indicates a resurgence in Solana's NFT environment. Current data shows that Solana NFT transactions have reached a significant milestone of $5 billion in trading volume.


Source: DappRadar

The importance of this lies in the fact that SOL is a necessary prerequisite for purchasing memecoins and NFTs on the Solana platform. As a result, any individual seeking to invest in or speculate on these digital assets must initially acquire SOL, thereby generating a surge in demand. This increased demand has been the primary force driving up the value of SOL over the past few months.

However, that only addresses the demand side of the situation. When considering the supply side of the equation, historical information indicates that the SOL supply has risen by around 20 million in the past six months. Therefore, using an estimated price of $150 per SOL could lead to potential selling pressure amounting to as high as $3 billion.

Despite significant selling pressure, SOL's price came remarkably close to reaching a record high, implying that the demand was exceptionally strong, possibly exceeding $3 billion. Alternatively, the selling pressure may have been overstated. Nevertheless, observing the substantial funds invested in memecoins is quite revealing.

As mentioned in this article, the rise in popularity of memecoins is thought to be caused by the absence of new retail investors entering the market. This situation may have encouraged large-scale investors, known as "whales,"  to target the existing retail investors familiar with decentralized exchanges (DEXs), leading to the hype surrounding memecoins. Despite the underlying reasons, Solana (SOL) displays a strongly optimistic outlook across various time frames.


Source: Messari

Solana’s Actual Road Map For 2024

Solana developed a de facto roadmap for 2024, established by the Solana Foundation in January. This plan includes four key milestones. The first milestone was the introduction of Token Extensions, completed in January. The second milestone involves the rollout of new validator clients, such as Fire Dancer, which is already operational on the testnet. Without delving into complex technical details, validator clients effectively enable validators to engage with the blockchain, enhancing network performance. 

The introduction of the Fire Dancer client is expected to substantially boost Solana's speed, although the exact improvement remains uncertain. Anatoly Yakovenko, the founder of Solana, mentioned in a December 2023 discussion that the Fire Dancer client is anticipated to be launched by the upcoming Breakpoint Conference in September 2024.

Interesting tidbit: With the successful integration of Fire Dancer, Solana will finally shed its beta label. This milestone, combined with the anticipated boost in performance, is expected to have a profoundly positive impact on SOL's value. Many experts believe this could be the spark that propels SOL to surpass the $300 mark in the upcoming weeks.

The next significant benchmark on Solana's defacto roadmap is unspecified institutional support. This milestone marks a crucial step forward, indicating that businesses now have unrestricted access to a comprehensive suite of tools necessary for building on the Solana platform. Furthermore, given Solana's ambition to emulate a decentralized version of the NASDAQ exchange, the integration of tokenized, real-world assets is likely on the horizon.

The following key objective is establishing a “mature building ecosystem,” where Solana’s developers are encouraged to leverage the full range of tools to create innovative products and services on the platform. The authors identify six critical focus areas: developing gaming finance applications, (GameFi) decentralized autonomous organizations, (DAOs)  permission products, infrastructure solutions, payment systems, and interoperability features.

The Solana Foundation recently announced a new milestone in a blog post involving an upcoming upgrade to address Solana's congestion problems. This upgrade began in mid-April and may include potential MEV functionality.

The Governance Forum of Solana has indicated that it plans to develop a new governance framework. An article published in August 2023 mentions that the introduction of this governance structure is expected in the first quarter of 2024. However, it remains to be seen whether it has been finalized at this point.

Closing Thoughts on Solana

Anatoly Yakovenko, the mastermind behind Solana, noted in an interview the importance of considering the potential shift in efficiency between decentralized and centralized exchanges. As decentralized exchanges become more effective, centralized cryptocurrency exchanges will likely transition to utilizing the decentralized blockchain for enhanced efficiency. Solana is determined to be at the forefront of this shift and has a strong possibility of emerging as the go-to blockchain solution.

Solana boasts 29.7 million active accounts and 340 million minted NFTs. With fast block times at 400ms and a low median TX fee of $0.00064, the network is known for its energy efficiency and zero net carbon impact. Despite notable obstacles, the Solana ecosystem has shown impressive resilience and sustained expansion. It has emerged as a leading candidate for managing millions of users on decentralized trading platforms.

Solana is an impressive venture supported by influential figures who believe in the network. The team is both reliable and innovative. Despite being in beta, Solana has demonstrated its capabilities beyond just a polished interface, processing billions of transactions. Additionally, the company started modestly without relying on massive amounts of venture capital, focusing on achieving tangible outcomes. These aspects collectively indicate a focus on delivering results.

Markethive Thrives On The Solana Blockchain

Solana is a perfect fit for the Markethive ecosystem, empowering the Markethive to further its mission of creating a fully decentralized platform for social media, marketing, and broadcasting where users can freely express themselves without fear of censorship. This all-encompassing ecosystem provides a comprehensive suite of tools for social media, marketing, broadcasting, publishing, eCommerce, and business facilitation. Ultimately, this collaboration aims to create an environment where individuals from diverse backgrounds can flourish in a cottage industry economy.

A key long-term goal is to launch the Markethive blockchain and decentralized exchange (DEX). This comprehensive project, designed to operate independently at every level, will resist the oppressive forces affecting societies worldwide. Multiple components of Markethive's ecosystem are being developed in tandem, preparing the way for the millions seeking a safe haven and reclaiming their independence. We have established our sovereign merchant account and successfully activated the Markethive wallet.

To conduct transactions through your Markethive wallet, you will need Solana's native coin (SOL) for the transaction fees, as Markethive’s Hivecoin (HVC) is a Solana token. Sending HVC involves paying gas fees. If Hivecoin were based on the Ethereum network, sending 10 HVC would cost $4.16. However, because Hivecoin is built on the Solana Network, the cost of sending 10 HVC is just $0.00003, which is a minuscule amount by comparison.

SOL can be purchased from a wallet like Solflare, Trust, or Exodus and then sent to your Markethive Solana sub-wallet. Watch this video for a step-by-step guide on setting up and utilizing the Exodus wallet to purchase SOL. To begin building your SOL reserves, leverage Solana's numerous faucets, which offer free SOL in exchange for participation. As detailed in this article, you can also take advantage of airdrops through Trojan On Solana

Markethive originated from modest roots without the backing of influential investors. Instead, it was created by the people and for the people, forming a collaborative environment that empowers entrepreneurs. The true beneficiaries of this system are its grassroots community, who will collectively reap the rewards and share in the prosperity and abundance that permeates every level of humanity. 

Keep updated on the advancements of Markethive as we implement our innovative new system—a secure Divine fortress impervious to malevolent forces. Join us for the weekly meetings held every Sunday at 8 a.m. Mountain Time. You can access the meeting via the invitation link in the Markethive calendar.

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

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