“Binance's plans in Social Finance (SocialFi) as a catalyst for making Web3 widely accepted is very aligned to CyberConnect which aims for long-term sustainability through developer-focused blockchain solutions. Unlike Friend.tech who rode a wave of social buzz but struggles with user retention.”
In a twist of digital fate, CyberConnect, a decentralised social platform, saw its native token shoot up by 30%.
Image: Binance UTC +8 SGT 5:00pm
It's all thanks to Binance Labs, the investment wing of the world's top crypto trading venue.
The price of the token, called "cyber," zoomed from $5.05 to $6.35.
The spike followed an announcement by Binance Labs.
In a public statement, Binance Labs said,
"We have made a follow-on investment round in CyberConnect."
They added,
"We see SocialFi's potential in propelling Web3 into the mainstream, and we'll be hosting an AMA to dive into the opportunities of social integrations across the ecosystem. Stay tuned!"
CyberConnect is redefining the realm of social networking through blockchain innovation.
Targeting developers, it serves as a blueprint for crafting social media platforms that are equitable and uncontrolled by singular corporate powerhouses.
By leveraging a strong architectural framework, it embeds permanent connections directly onto the blockchain, thereby granting users an unprecedented level of control over their digital identity, content, and social interactions.
Essentially, CyberConnect aims to decentralise social media, offering an array of tools that empower individual data ownership and community building.
Through these disruptive features, CyberConnect is not just challenging the status quo but is fundamentally altering our expectations of what a social network can be.
Image: Binance
The divergence between CyberConnect and Friend.tech is quite telling of how different paths can lead to varied outcomes in the blockchain-based social network arena.
CyberConnect is structurally more developer-centric, allowing for custom applications related to digital identity and social connections, thus creating an ecosystem with more layers of user engagement.
On the other hand, Friend.tech experienced a meteoric rise fueled mainly by social buzz but appears to be struggling with user retention.
This difference suggests that while Friend.tech grabbed quick attention, CyberConnect is banking on long-term sustainability by offering concrete technological solutions like CyberGraph and CyberID.
Both paths are intriguing but paint a picture of what might be more sustainable in the long run: genuine innovation or social virality.
Image: BeInCrypto
Imagine you've got the backing of a world-renowned chef for your small bakery.
That's the kind of validation Binance Labs' investment offers to CyberConnect.
In the end, CyberConnect's focus on genuine innovation has a likelihood of being more sustainable over time compared to Friend.Tech's reliance on social virality.
An analysis of CyberConnect (CYBER), a cryptocurrency built on Ethereum with potential for growth, a solid trading volume, and benefits from being part of the Ethereum ecosystem.
Blockchain visionCyberConnect (CYBER), a cryptocurrency launched in 2023, has gained attention with a trading volume of $120,348,913.12, but detailed project information is currently unavailable. Investors should approach with caution.
Blockchain visionAccording to the data disclosed by JPMorgan Chase to the SEC, it did not wait foolishly for the so-called 42k, but increased its holdings of Bitcoin spot ETF early on.
JinseFinanceJPMorgan CEO Jamie Dimon reiterated his strong skepticism of BTC on April 18, calling BTC a “fraud” and a “Ponzi scheme,” despite JPMorgan’s participation in BlackRock’s spot BTC ETF.
JinseFinanceOne indicator shows that Bitcoin has become more popular than gold in investors' portfolios, as its price continues to reach new highs, according to a report released by JPMorgan Chase on Thursday.
JinseFinanceJPMorgan downgrades Coinbase amidst concerns over an anticipated Bitcoin ETF and ongoing legal battles.
WeiliangWith JPMorgan as their authorized participant, the intermediary firm, the ETF can first be realized by converting Bitcoin into cash and vice versa.
JinseFinancewhile there are signs of recovery in DeFi and NFTs, JPMorgan analysts emphasize caution. The recent positive trends may be natural, and Ethereum's challenges persist. New players entering the space offer hope, but the fate of Ethereum's dominance depends on successful upgrades, which remain uncertain.
Sanya
Coinlive JPMorgan said the FTX collapse could speed up cryptocurrency regulations, resulting in the broader use of blockchain technology.
BeincryptoThe trademark was granted by USPTO on November 15.
OthersThe platform has become less decentralized after the switch to proof-of-stake, the bank said.
Coindesk