PancakeSwap has partnered with BetFury to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025.

Daily Top Performer — Phala Network (PHA)

The S&P 500 rose 1.1%, marking its third straight gain and the start of the Santa Claus rally. Growth and megacap tech stocks led, driven by optimism in AI and long-term tech trends, despite elevated Treasury yields. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.18%, with Bitcoin and Ether rising by 4.52% and 1.90%, respectively in the past 24 hours.

Today's top performer is PHA, which surged 63.4% after the announcement of Phala Network's 2024 achievements and 2025 roadmap, featuring decentralized GPU AI advancements and strategic partnerships.

The Phala Network (PHA), founded in 2018, is a decentralized cloud computing platform that uses excess computing power from everyday devices. It operates with Gatekeeper and Miner nodes, offering secure and scalable cloud services. Phala also launched Khala (PHA) on the Kusama network in 2021. 

 include co-building a decentralized GPU network, enhancing AI model training, and partnerships with projects like SentientAGI and MorpheusAIs. The Phala Treasury allocated 37% to infrastructure, 20% to community, and 43% to marketing. Social media efforts generated millions of impressions and engagements, while the network participated in six events and established 15 partnerships. Phala 2.0, launching in 2025, will integrate GPU TEE technology and Ethereum Layer 2 scalability for AI and Web3 applications.

Check Out the Latest Prices, Charts, and Data of 

 to launch a $50,000 trading competition running from December 24, 2024, to January 12, 2025. Participants can earn rewards by trading BFG tokens on the PancakeSwap Web interface or Telegram Swap-Bot. The competition includes daily lucky draws with $10,000 USDT, a leaderboard with $30,000 in BFG tokens for top traders, and $10,000 USDT for traders using the Telegram Swap-Bot. To qualify, participants must meet specific trading volume requirements, with rewards distributed in USDT and BFG tokens.

Yesterday, Bitcoin Spot ETF flows remained unchanged for GBTC, while non-GBTC ETFs experienced outflows of $149.7 million, bringing total outflows to $149.7 million.

: Astherus lets you farm while qualifying for Lista DAO Season 2, while Superform involves depositing ETH on Base via Moonwell WETH Morpho vault. Mitosis allows Linea airdrop qualification by holding funds, and Symbiotic rewards large token deposits on Ethereum mainnet. Mind Network offers bigger airdrop allocations for farming vFHE by depositing eETH. Solayer requires depositing and delegating SOL or derivatives to rank higher, and Drift's second airdrop involves liquid staking SOL to earn and lend dSOL.

Beginner

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PancakeSwap and BetFury Launch $50,000 Trading Competition with BFG Token Rewards

In this tutorial, we’ll explore how you can complete a series of tasks in Orochi Network for Bybit Web3 Airdrop Arcade.

In this tutorial, we’ll explore how you can complete Orochi Network tasks for Bybit Web3 Airdrop Arcade. 

Task 2: Quote Orochi Network's Post and Tag 3 Friends

: Navigate to Orochi Network’s pinned post on X.

: Quote the tweet with your thoughts, and tag 3 friends.

 button at the top right corner of the page.

: The Orochi ID window will pop up. You may choose to sign up for an Orochi ID using your Google account, GitHub or email address.

: Congratulations! You’ve successfully created your Orochi ID. 

Task 4: Join the Contribute to Earn Program

: Connect your Wallet, Google account and Discord to be eligible.

: Once you’ve successfully connected all accounts, you’ll have completed this task.

 all of the four tasks above for your chance to 

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How to Complete Orochi Network Tasks for Bybit Web3 Airdrop Arcade

MegaETH is an EVM-compatible blockchain with real-time Web 2.0–level performance. Learn more about MegaETH.

 has long been a formidable challenge for the blockchain industry. Most established chains maintain decentralization and security, but struggle with limited scalability while high-performance 

 (L1) blockchains often compromise decentralization to achieve high throughput. 

What if we could push throughput to unprecedented levels without compromising security or decentralization? 

Enter MegaETH — a project backed by industry leaders such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and Dragonfly Capital. With the first real-time 

 (EVM)–compatible chain —i.e., one that can process transactions as soon as they arrive, and then publish the resulting state changes — MegaETH aims to redefine blockchain performance. In this article, we delve into the scaling limitations of current blockchains and examine how MegaETH aims to solve them. Let's dive in!

The blockchain trilemma has posed a significant challenge for 

 developers for years. As Ethereum co-founder Vitalik Buterin explains, distributed ledger networks can only achieve two out of three critical qualities (security, decentralization and scalability) by using simple techniques. 

As a result, most high-performance chains, such as Solana, Avalanche and BNB Chain, often compromise on decentralization or security to achieve scalability.

To address the scalability challenges of L1 networks, developers have introduced 

 (L2) solutions, which operate on top of blockchains such as Ethereum. These L2 chains achieve 

 (TPS) while leveraging the security and decentralization of their underlying L1s. However, according to MegaETH, both high-performance L1 and L2 networks fall short of meeting the demands of Web 2.0–scale applications, particularly in terms of 

As shown in the table above, the blockchain with the highest scalability, opBNB, achieves a gas rate of 100 MGas/s, equivalent to 650 Uniswap swaps or 3,700 

 transfers per second. In comparison, modern databases can 

 over 1 million TPC-C TPS. While Arbitrum One, the fastest chain listed, offers a block time of 0.25 seconds, this remains insufficient for applications requiring rapid feedback or high update rates. 

These limitations in both scalability and speed make current high-performance L1s and L2s ill-suited for Web 2.0 applications with significant computational demands.

 is an EVM-compatible blockchain with real-time Web 2.0–level performance. With the goal of bridging the gap between distributed ledger networks and traditional cloud computing servers, the project aims to push the performance of Ethereum-based L2s to hardware limits. As the first real-time blockchain, MegaETH can stream transactions at 100,000 TPS with transaction fees under $0.01, and provide millisecond-level responsiveness without sacrificing security or decentralization.

MegaLabs, the organization behind MegaETH, was founded in early 2023 by Shuyao Kong and Yilong Li. Holding an MBA from Harvard Business School, Kong has a background in business development within the blockchain industry. Prior to co-founding MegaLabs, she was the global head of business development at ConsenSys, where she continues to serve as an advisor.

As the Chief Executive Officer (CEO) of MegaLabs, Li has a PhD in computer science from Stanford University. An experienced software developer, he previously worked at Runtime Verification Inc., a firm specializing in software analysis tools and the application of formal methods to improve computing systems.

Together, Kong and Li founded MegaLabs in early 2023 to leverage their business development and computer science expertise to build MegaETH as the first real-time blockchain.

 $20 million of funding in a single seed round at a 9-figure valuation. The round was led by Dragonfly Capital, with other notable venture capitalists including Figment Capital, Folius Ventures, Robot Ventures, Big Brain Holdings, Tangent Ventures and Credibly Neutral. In addition to VCs, MegaETH is backed by high-profile angel investors, such as Ethereum co-founder Vitalik Buterin, ConsenSys CEO Joseph Lubin and EigenLayer creator Sreeram Kannan.

 on crypto trader Cobie’s decentralized fundraising platform, Echo. The round was fully funded within minutes and oversubscribed, showing significant investor demand.

MegaETH achieves over 100,000 TPS with less than 1 ms latency and block time, as well as transaction fees under $0.01, via two core features: a heterogenous blockchain architecture and a hyper-optimized EVM execution environment.

MegaETH's heterogeneous blockchain architecture enables network nodes with different hardware configurations to specialize in specific tasks to boost performance.

There are three types of nodes: sequencers, full nodes and provers. With cutting-edge hardware, a small set of sequencers conduct performance-critical tasks such as transaction execution. Simultaneously, a massively decentralized network of full nodes performs security-critical duties such as block validation. Provers have the lowest hardware requirements, and focus on providing L2 proofs to full nodes.

Hyper-Optimized EVM Execution Environment

MegaETH provides a hyper-optimized EVM execution environment to push latency, throughput and resource efficiency to hardware limits. Consequently, the real-time blockchain can process large volumes of transactions as soon as they arrive, and publish the resulting state changes in a few milliseconds.

To enable real-time EVM execution, MegaETH co-designed a low-latency, streaming-based block-building algorithm with a concurrency control protocol supporting transaction prioritization.

MegaETH's real-time blockchain scales without sacrificing decentralization and security through the following key components and features.

 is an extension of the MegaETH core team. It consists of a group of 10x builders hand-picked by MegaETH developers. According to the project, MegaMafia participants have "an internal compass guiding them toward crypto's world domination."

MegaETH defines three common qualities for MegaMafia members:

MegaETH is setting a new standard for blockchain scalability, addressing long-standing limitations without compromising decentralization or security. By combining innovative architectural decisions with technologies like real-time EVM execution, in-memory computing and smart contract JIT compilation, this real-time L1 chain delivers unmatched performance tailored for Web 2.0–scale applications.

Supported by high-profile investors, such as Vitalik Buterin and Joseph Lubin, MegaETH is poised to bridge the gap between blockchain and traditional computing, unlocking new possibilities for decentralized applications. The project is on track to launch its testnet in early 2025, with the mainnet rollout soon thereafter.

Advanced

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MegaETH: A Real-Time Blockchain for Web 2.0–Scale DApps

Grayscale has launched the Horizen Trust, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it.

Daily Top Performer — Convex Finance (CVX)

The S&P 500 rose 0.73%, driven by big tech and communication services, as investors anticipate a "Santa Claus Rally" to close the year. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 1.61%, with Bitcoin dropping by 2.58% and Ether rising by 4.32%, respectively in the past 24 hours.

Today's top performer is CVX, which surged 28.1% following Frax's consideration of BlackRock's BUIDL token as backing for the rebranded frxUSD stablecoin.

Convex Finance (CVX), launched in May 2021, is a DeFi protocol that boosts yields for Curve protocol users on Ethereum. It allows for staking to earn CRV and CVX tokens and provides voting rights on token allocations. Securitize has 

 adding BlackRock's BUIDL token as backing for Frax's rebranded Frax USD (frxUSD) stablecoin, which will feature a new mint-redeem system. Early feedback from Frax DAO members is positive. Competing proposals from Superstate also suggest backing frxUSD with their tokenized funds. The final backing structure is still undecided.

, a fund that allows qualified investors to gain exposure to the cryptocurrency ZEN without the need to buy, store, or safeguard it. The fund's shares track the market price of ZEN, net of fees. While the shares have been traded at both a premium and discount, the fund aims to provide a simpler way for investors to gain exposure to ZEN. Grayscale is also expanding its offerings, with plans for a Solana spot ETF.

Yesterday, BTC Spot ETFs recorded total outflows of $258.2 million, including $38.4 million from GBTC and $219.8 million from non-GBTC funds.

, distributing $SONIC tokens to those who participate. Over 2 million users have joined through an easy onboarding process, requiring no wallet setup or gas fees. To qualify for the airdrop, users must log in via TikTok, access SonicX, and wait for the $SONIC claim banner. SonicX, part of the Sonic SVM app layer, uses TikTok ads and creator partnerships to promote its gaming and blockchain education hub. The project aims to expand its TikTok Chain with new games and future token rewards.

Grayscale Introduces Horizen Trust for ZEN Investment Access

Trading

Position trading may or may not be your favorite. But if you intend to invest long-term, here's what you must know about a position trade.

Position-trading.jpg

You might be wondering what do the wealthiest investors in the world have in common? The quick answer is that they use money to find more money. Instead of saving, they re-invest and envision a fortune in the longer-term. In other words, they see the bigger picture (the long-term trends) and then trade in that direction. So, if you’re thinking of position trading, good! You’re halfway there.

And you know what? Position trading helps traders to find significant trends and take advantage of long-term investing. This trading style has a competitive advantage compared to the short-term trading styles like day trading, which has many pitfalls.

Below is the guide you want to know about position trading and the main concepts to learn about this trading approach. The best part, it’s supposed to give you the idea to find potential trading positions.

Position trading is a trading style where the investor holds a position (long or short) for an extended period. With position trading, the time horizon goes from days, weeks, to even years. The main purpose behind this long-term trading strategy is to take advantage of the more prominent trends. 

Position trading is beneficial, especially compared to other trading styles, let’s say, (

); it offers the opportunity to catch larger price movements on a percentage basis. Therefore, providing more potential for profit in the long term.

Let’s be real. There’s no one size fits all kind of trading strategy, and position trading is no exception.

The key is to decide on a trading style that is aligned with the personality and profile. To give an overview of a position trader’s day-to-day life, here’s how it looks like: 

Usually, this style provides more time and less stress because you don’t have to stay glued to the screen every day, and any minor fluctuation shouldn’t affect the long-term view of the asset. The critical element that differentiates position trader and day trader is patience. Position traders rather prefer to wait for the expected movement.

Usually, position trading is more suitable for those who have more commitments outside of the market. That means it’s ideal for those who have a full-time job, family, business, or more personal obligations. Additionally, institutional traders heavily utilize this approach to build positions that could generate bigger yields in time. 

There are many ways how position trading can be applied. However, most are based on technical analysis, 

, or a mixture of both. Those two forms of analysis are essential as they are literally the pillar to make sound investment decisions.

 is slightly different from the crypto space because the cryptocurrencies don’t have the same characteristics as other assets (like stocks or forex). However, the main idea behind the fundamental analysis is to find the “fair” crypto value and define based on the current price if the cryptocurrency is undervalued or overvalued.

Some of the main factors to have into consideration are:

 is related to the study of prices and volumes, allowing for better timing for entries. Additionally, it provides objective price levels where crypto investors could define the risk, profit targets, and areas where the position can be built. There are many position trading strategies built upon technical analysis; some of them will be explained later in this article.

It is important to remember that position trading uses long-term time frames; weekly, monthly, and yearly charts are the primary reference for the position traders. That is because they can identify the long-term trends and eventually define possible entry points.

An example of this trading style can be observed in the action of Bitcoin (BTCUSD) weekly chart, where the price 

. This sample provides an idea of the potential of using a position trading approach.

Position Trading vs. Day Trading vs. Swing Trading: Differences

The main difference between day trading vs. swing trading vs. position trading is the holding period. The holding period is the duration of time between the purchase of a cryptocurrency and its sale.

Additionally, it’s relevant to notice that some of the most significant returns come from directional markets with a considerable volatility amount. Nowadays, the cryptocurrency market matches those criteria. Therefore, it would be an interesting vehicle to establish long-term positions (position trading) that can yield exciting returns.

of day trading. Mainly because position trading implies holding positions for extended periods (months to years) while day trading is entering and exiting trades during one trading day. 

Day trading requires more daily attention because the trader must be in front of the screens throughout the day. Meanwhile, the position trader only has to check the market a few times a month because the time horizon is long.

Here’s an example of how trading Ethereum (ETCHUSD) shows the difference between position trading and day trading:

Swing trading is when the trader holds a position (long or short) during days or weeks, and it differs from position trading because the holding period is lower.

Although it doesn’t require as much time of attention as day trading, a swing trader must still check the prices several times per week. A rule of thumb, you must always be aware of the medium-term fluctuations that could affect the asset.

In the chart above of ETHUSD, depending on the trading style, the time of price development takes different magnitudes. In position trading (monthly chart) 15 months while in swing trading (Daily chart) 9 days.

In regards to position trading strategies, there are several methods that a crypto investor can apply. Because position trading involves tactically buying and holding cryptocurrencies for the long run, some of the technical analysis strategies used to time the market includes— 

moving average, support and resistance, breakouts, pullbacks, and range trading

The main reference for this kind of trading style will be the larger time frames, such as the weekly, monthly, and yearly charts. 

Let’s start by analyzing the trading breakout. 

Breakout trading is when the entry is placed at the point where a 

. This high could be an all-time high or a relevant level defined by the monthly or yearly chart.

The idea is that after the entry is triggered, the price must keep going. If not, the trade must be obliterated immediately.

BTCUSD is a good example; see how after the price broke the 12.473 (black dot = entry) level, it went straight up, breaking the most relevant previous structure. The 

 should have been located just below the bar that triggered the breakout.

 to identify possible continuation points after the price has reached its mean (the average) before continuing in the previous movement’s direction. Usually, this strategy yields better returns in trending markets.

One of the most used averages is the 9EMA. It is usually an indicator of momentum and provides good entry points when the momentum is strong.

For example, in the chart below the ETHUSD weekly chart, we can see how the 9EMA (black line) acted as dynamic support and eventually marked ideal entry areas to build a core position trading towards the long side (black arrows).

 is a popular yet powerful method to define entry and exit points. In essence, the support and resistance levels are key price levels on the crypto chart that tend to stop a cryptocurrency price from going any further.

Usually, when the support or resistance is tested several times, it can provide a solid area to place an order and define the risk.

In the sample above, the Litecoin weekly chart (LTCUSDT) was revolving around the 38 – 40 support area. See how previously the action was supported around this level (black dots) and eventually provide a good entry point where the risk was low compared to the possible run to the upside (Green arrow).

Pullback and retracement trading is when the trader looks for an entry on a corrective action within the context of a trend. The main idea behind pullback trading is to wait for a retracement during a trending move and use additional price action with some exhaustion action. Such as a 

 or a Fibonacci retracement to provide accurate timing.

In the weekly chart of BTCUSD, we can see two main spots to define a long entry (black dots). One after the Doji formation and one after the inside and up candle. Additionally, the stop loss should be placed below the previous swing low.

Range trading is a method that seeks to exploit trading opportunities when a 

cryptocurrency bounces between support and resistance level

, which acts as a price barrier. The price zone between the support and resistance levels is what most technicians refer to as being the range.

Usually, a price range is established when we have multiple bounces off support and the resistance level. On the price chart, this will appear like the price is being “trapped” inside a consolidation without having a clear direction.

In the context of position trading, the main idea is to play the breakout in the prevailing trend direction. For example, if Bitcoin is in a strong uptrend, you would want to 

Here in the daily chart of BTCUSD, we have identified a well-established range that eventually fueled a movement to the upside as soon as the price broke above the upper limit of the price range.

Of course, position trading is attractive. But the real deal is because it allows you to have:

Position trading also has risks associated and must be understood before applying this approach. 

The best style must suit your personality of each crypto investor and his experience in the market. For example, if you find yourself 

. You can check the market a few times per week or month to manage your positions accordingly to the medium and long-term action.

 is for you. There, you can see a daily profit and loss without stressing over an overnight position.

Usually, institutional traders and more experienced traders prefer position trading as they typically trade with big order blocks. These are buy-and-hold traders compared to retail traders who have a shorter time horizon and choose day trading or swing trading.

Position trading is a style that allows investors to participate in the major trends and eventually outperform the average trader returns. It perfectly suits traders who have limited time due to different commitments outside of the market environment (family, work, or business).

Additionally, it offers the opportunity to avoid the random “noise” usually found in lower time frames, where a minor fluctuation can shake out the trader’s positions. All and all, position trading is a great approach to participate in significant trends and increase profits exponentially.

Explained: What Is Position Trading vs. Swing Trading?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards