Launching your own crypto project and your own token can be a complicated process. But our experts will tell you what steps you need to take to get the results you want.

Determine the purpose of your token: Before creating a token, you need to determine its purpose. Will it be used as a utility token or security token? Will it be used as a means of payment or as a store of value?

Choose a blockchain platform: You will need to choose a blockchain platform to host your token. The most popular platforms are Ethereum, Binance Smart Chain, and Solana.

Create a whitepaper: Your whitepaper should outline the purpose of your token, its technical specifications, and the use cases for it. It should also include information on the token distribution and any fundraising events.

Choose a token standard: You will need to choose a token standard such as ERC-20, BEP-20, or SPL. These standards dictate the rules for the token’s behavior and functionality.

Develop a Smart Contract and Deploy: Once you have decided on the token standard, you will need to develop a smart contract that defines the token’s behavior on the blockchain. The smart contract code contains the rules and logic of the token, including the token supply, distribution, and transaction rules.

Deploying a smart contract can be a complex process, and it is important to have a good understanding of the underlying technology and best practices. It is recommended to seek guidance from experts in the field and to thoroughly test your contract before deploying it to the mainnet. Our crypto marketing agency “Crypto Upvotes” can help you with smart contract development. This code will include the logic and rules for your token or application.

Marketing to attract investors: 

• Develop a Clear Value Proposition: Clearly articulate the value of your token and what problem it solves. This should be the foundation of your marketing message. 
• Build a Strong Community: Engage with potential investors and supporters on social media and community platforms. Provide regular updates on the progress of your project and encourage participation.
• Create Engaging Content: Produce high-quality content, such as blog posts, videos, and infographics, that educates and informs your target audience about your project and the benefits of your token.
• Participate in Crypto Events: Attend and participate in conferences and events in the crypto space to showcase your project and network with potential investors and partners.
• Leverage Paid Advertising: Consider using paid advertising companies such as Banner Ads on crypto platforms and MEDIA worldwide, Influencers Ads, or social media advertising such as Twitter promotion, Instagram promotion, Discord DMs to investors, WhatsApp DMs to investors, Telegram DMs to investors to reach a wider audience and increase awareness of your token.
• Engage with Crypto Media: Order press releases or sponsored articles in cryptocurrency-focused media to talk about your project and token. This can help create ads and increase visibility for your project.

Marketing and promotion for crypto project

Promoting and marketing crypto tokens requires a deep understanding of the target audience and crypto ecosystem. It is important to focus on building a strong community and providing regular updates on the progress of your project. Additionally, it is recommended to seek guidance from experts in the field to ensure that your marketing efforts are aligned with best practices. Our crypto marketing agency “Crypto Upvotes” can help you with this. We have many services to attract investors to your project. We can also draw up an individual marketing plan specifically for your project.

Launch the token: Once you have completed the previous steps, you can launch your token on the blockchain. Select the launchpad on which you will launch your token. You will need to distribute the tokens to investors, create a market for them, and comply with any regulatory requirements. 

Launching your own crypto-token requires technical knowledge and a lot of experience. It is recommended that you consult with experts in the field to ensure that you are following best practices and complying with all legal requirements. Our crypto marketing agency “Crypto Upvotes” will help with any problem. From developing a smart contract to listing a token on crypto exchanges. Contact our experts for the best advice and services.

Chinese banks offices in Hong Kong are trying to take advantage of the situation with the closure of cryptocurrency banks in the U.S. and take their place in an industry of digital assets in this region

Major Chinese banks have started offering banking services to cryptocurrency companies in Hong Kong. After cryptocurrency-friendly banks from the U.S. faced difficulties. Support for the industry from Chinese banks could fill the void and give a new boost to the industry in the region.

Over the past few months, Hong Kong branches of banks such as Bank of Communications, Bank of China and Shanghai Pudong Development Bank have reached out to local cryptocurrency firms to offer their services. And in one case, representatives from a Chinese bank even visited a cryptocurrency company’s office.

Due to regulatory uncertainties and the riskiness of digital assets, traditional financial institutions have usually avoided working with cryptocurrencies. But the latter need banking services to hold fiat money, pay staff and pay suppliers. According to Hong Kong cryptocurrencies, digital asset firms have been forced to find various workarounds to meet such operational banking needs.

At the same time, banks in Hong Kong did not routinely offer digital asset exchange services for fiat currencies. Therefore, many crypto firms turned to overseas banks such as Silvergate and Signature. Since the closure of these banks, crypto firms have had to look to them for a replacement. And industry representatives note that the “green light” from Beijing is opening up new opportunities for the market.

Hong Kong regulators to hold meeting between crypto companies and banks

Hong Kong authorities have scheduled a meeting of representatives of cryptocurrency companies and banks, according to Bloomberg. It will discuss the provision of banking services to firms working with digital assets.

The meeting will be held on April 28 at the Hong Kong Monetary Authority (HKMA) and will be held jointly with the Hong Kong Securities and Futures Commission (SFC) Both regulators oversee cryptocurrency activities. According to the announcement, the purpose of the discussion will be to “facilitate direct dialogue” between banks and cryptocurrencies and “share practical experiences and perspectives in opening and maintaining bank accounts.”

HKMA and SFC representatives told the publication that they would not comment on any details of the meeting. But they clarified that they are in dialogue with interested parties.

Huge benefit for Hong Kong

This year, Chinese government officials in Hong Kong started to frequently attend cryptocurrency events in Hong Kong. Industry participants see this as a positive attitude from Beijing toward Hong Kong’s intentions to become a cryptohub. Companies previously operating in mainland China (does not include Hong Kong and Macau), as well as foreign firms have begun to register their business in Hong Kong and plan to move to Chinese territory.

At the same time, the ability to open bank accounts and access banking services are among the priorities for companies from the crypto industry. Who intend to develop in this region. Banks in Hong Kong are well positioned to take advantage of the situation after the banking crashes in the U.S. While many Asian companies have partnered with friendly U.S. banks in the past, this is unlikely to happen again in the future due to regulatory issues.

Our experts note that Hong Kong would greatly benefit from such actions. However, the question remains whether the geopolitical climate will deter non-Asian crypto projects from cooperating with Chinese banks.

Net book value of digital assets of Playboy as of December dropped to $ 327 thousand. A year earlier the figure was equal to $ 6.8 million

PLBY Group, parent company of Playboy magazine, said it suffered a $4.9 million asset impairment loss in Ethereum (ETH) in 2022, according to its annual report. The company was accepting the leading altcoin as payment for its 2021 Rabbitars collection NFTs.

In 2021, the company received $7.8 million from the sale of NFTs. At the end of that year, however, it recorded a $1 million loss on their impairment. At the end of 2022, the value of the digital assets on the Playboy balance sheet was $327,000.

Digital assets as of December 31, 2022 and 2021 consisted of Ethereum cryptocurrency from the sale of NFT. As of December 31, 2022 and 2021, the carrying value of our digital assets was $0.3 million and $6.8 million, respectively. The digital asset impairment charges for the years ended December 31, 2022 and 2021 were $4.9 million and $1 million, respectively.

Playboy explained that it accounts for its digital assets as “indefinite-lived intangible assets.” These are subject to impairment if their fair value falls below their carrying value at any time. Impairment losses that the company incurs on digital assets cannot be recovered. Even if the fair value of the assets increases after impairment losses are accepted.

The market price of a single Ethereum ranged from $964 to $3,813 during 2022. But book value of each Ethereum that Playboy owned at the end of a reporting period. It reflects the lowest price per Ethereum on the exchange at any time since it was received.

Our experts note that negative fluctuations in the market price of Ethereum could have a significant impact on Playboy’s profits and book value. While an increase in prices will only have a positive impact on company profits. If the tokens on the balance sheet are sold at a profit.

More than 1 billion users of leading Chinese social network WeChat can now use its function of fast payments in digital national currency to pay for goods and services

Leading Chinese social network WeChat has added support for digital yuan (e-CNY) to its payment services. This was reported by local publication The Paper. The integration of WeChat’s e-CNY fast payment feature should help expand the use of this form of currency promoted by the Chinese authorities.

The WeChat app, created by tech giant Tencent Holdings first as a messenger but has evolved into a full-fledged social network. It has more than 1.2 billion monthly active users. Now they can pay for goods and services in digital Yuan in certain WeChat mini-applications through the WeChat Pay system. In the future, the social network will add more options for using e-CNY.

Right now, there is a limit of 2 thousand yuan ($289) per transaction and a daily limit of 5 thousand yuan ($720).

The digital yuan, also known as e-CNY, is being tested in at least 26 Chinese provinces and cities. There are 5.6 million stores and businesses from the service sector taking part. As of the end of December 2022, e-CNY’s digital national currency payment volume was 13.61 billion yuan ($2 billion).

Our experts note that in December 2022, Alipay, Alibaba’s payment system, announced that it would begin accepting digital CNY. This system processes transactions between sellers and buyers on AliExpress. As well as on Taobao, Shanghai Bus, Youbao platforms and supermarket chains Tmall and Hema.

You will only be able to buy NFTs through your Amazon account with a bank card. Crypto-Upvotes expert review

The Amazon NFT Marketplace will launch on April 24, according to TheBigWhale. At first, a service called Amazon Digital Marketplace will be open only to U.S. users. But in future, customers from other countries, including Europe, will have access to it.

At launch, the site will feature 15 NFT collections. It will only be possible to buy NFTs through an Amazon account with a bank card. This method of payment was chosen to make it convenient for customers to use the service in the traditional way. At the same time not tying cryptocurrencies like Metamask to it.

To host a marketplace, Amazon chose a private blockchain platform that is not compatible with Ethereum. Therefore, developers who want their NFTs to be available on the new platform will have to use blockchain bridges (tools to transfer tokens between different networks).

Our experts note that Amazon is preparing to launch its own NFT-platform, it was reported in early January. At the time, it was known that US online retailer was considering launching blockchain games. Participants in such games will be able to receive digital tokens, and it plans to hold at least one NFT airdrop.

Cryptocurrency platforms providing liquid staking services came in second place in DeFi sector by volume of funds sent to them

Staking platforms came in second in terms of funds in the DeFi sector, overtaking lending services. According to DeFi platform Llama, the volume of total blocked value (TVL). Liquid staking platforms exceeded $14 billion, while TVL in cryptocurrency lending protocols is about $13.7 billion.

Liquid staking, allows users to earn from Ethereum stacking without having to make a mandatory deposit of 32 ETH. Users can send any amount of ETH or other Proof-of-Stake cryptocurrency coins to staking. Users will receive tokenized versions of their assets in return. For example, in form of stETH token in a 1:1 ratio. The latter can be used in parallel to generate additional income in DeFi-protocols. At the same time, you will not lose earnings from staking assets in the liquid staking service.

Decentralized exchanges (DEX) lead in terms of funds on DeFi-platforms. TVL on them is $19.3 billion. However, this category includes 716 services. While the staking services whose data is collected by the analytics platform are 71.

Over the last month, TVL of just one stacking protocol Lido increased by $1 billion to $9.3 billion, while this figure for leading DEX is almost twice as low: Curve has $4.9 billion, Uniswap has $4.1 billion, and Pancakeswap has $2.5 billion.

On February 25, the Lido team noted that it recorded the largest daily inflow of funds amounting to more than 150,000 ETH (about $245 million). According to crypto analyst Lookonchain, these funds were contributed by Tron blockchain founder and Huobi exchange chief Justin Sun.

On February 27, cryptoprotocol specialists from 0xScope noted that Sun continues to contribute funds to stake on Lido. Additionally, he sent another 88,000 ETH (about $144 million) there.

Reasons for growth

Our experts point out that the influx of funds into liquid staking protocols is caused by the fact that the Ethereum network is scheduled to start updating Shanghai in April 2023. Which will allow to withdraw previously blocked funds in ETH from staking. After it was revealed in January that developers had decided to focus on this particular upgrade feature, staking platform token rates soared by dozens percent and continue to rise.

Also, the growth in popularity of DeFi-protocols from this category was promoted by rumors about the possible ban on staking in USA. There has been no official confirmation of this yet. But the major U.S. exchange Kraken in early February closed stakng for U.S. customers at the request of the U.S. Securities and Exchange Commission (SEC).

Hive Blockchain reported financial results for the last three months of 2022. It said it received 51.6% less profit from cryptocurrency mining in that period than it did a year earlier

The Ethereum blockchain’s transition to the Proof-of-Stake (PoS) algorithm was one of the reasons for a $90 million loss at major miner Hive Blockchain for the fourth quarter of 2022. The company released its financial results for the last three months of last year. In doing so, it noted that in addition to September’s Ethereum update, the losses were also contributed to the decline in the price of digital assets. As well as on mining equipment at the end of last year.

Our experts note that this report shows that the miner generated $14.1 million in cryptocurrency mining revenue during that period, down 51.6 percent from a year earlier. And the gross profit earned by Hive from mining in the fourth quarter of last year was $3.6 million, down 77% from $15.9 million in the previous quarter.

According to Miner, the average mining cost per Bitcoin in the last three months of 2022 was $13,600. While the average Bitcoin price during that time was $18k. This increased BTC production costs by 37% over the previous quarter. The company revalued its mining equipment, which also led to a $38.8 million loss on Hive’s balance sheet.

Additional reasons for losses

In addition to the “Merger” and the strong decline in cryptocurrency prices from the end of 2021. Hive’s revenue was also driven by a significant increase in global Bitcoin hashrate and an annual increase in mining complexity of 60%, to nearly 40T.

At the same time, the company noted that it mined 787 BTC during this period. And this is 13% more than in the same period of 2021, when 697 Bitcoins were mined. According to the Hive team, this reflects continued growth in its operating hashrate.

Hive also reported that the fleet of GPUs formerly used to mine Ethereum is not currently idle. And it’s generating an average annual revenue of more than $1 million by being busy with computational workloads unrelated to mining digital assets.

Attack of American regulators on BUSD and what consequences will face Binance from impossibility to issue its own stablecoin. Review by Crypto-Upvotes experts

The U.S. Securities and Exchange Commission (SEC) has informed Paxos Trust that it plans to sue it for violating investor protection laws. According to the regulator, Binance USD (BUSD), the third most capitalized stablecoin, is the third-largest. This digital asset, which Paxos issues, is an unregistered security. It is not yet known whether the SEC notice specifically relates to the issuance of BUSD, its listing on exchanges, or both.

The New York State Department of Financial Services (NYDFS) has since ordered Paxos to cease issuing new BUSD tokens altogether. In listing the consequences of stopping the issuance of BUSD, Changpeng Zhao, head of the Binance exchange, admitted. That capitalization of this asset will continue to decline and investors will start to switch to other stablecoins.

Risks to other stablecoins are high

News about banning issue of stablecoin Binance USD (BUSD) had a negative impact on the market. But not as much as from the collapsed FTX exchange. The SEC is investigating the Binance exchange. So Paxos is also in target of the regulator and the New York State Department of Financial Services (NYDFS).

The regulator considers BUSD to be an unregistered security. But with that logic, other stablecoins, USDT and USDC, would also be at risk. Most likely, someone wants to get control of Binance. And creating problems not only for the leading exchange, but also for the whole industry. The risks to other Stablecoins are high.

Binance CEO Changpeng Zhao said he will continue to support BUSD for the foreseeable future. The company predicts that customers will switch to other stablecoins. Therefore, the platform will make changes accordingly.

U.S. regulators declare war on stabelcoins

There are no frontiers for U.S. regulators. All it takes is one American citizen using some platform or protocol. For US regulators to consider these protocols as belonging to their jurisdiction. Attack on stablecoin issuers was expected, the SEC has been saying for years that these companies are not transparent enough. And they don’t comply with U.S. banking laws, don’t have the necessary reserves and so on. If SEC attacked a BUSD issuer, it would be wise to get ready for attacks on other stablecoins, especially USDT and USDC. Given USDT’s majority share of stablecoin market. An attack on them is fraught with a serious crisis in cryptocurrency market and subsequent collapse of all coins without exception.

Our experts note that U.S. regulators have openly declared war on at least Binance itself. In a broader sense, this is a continuation of the fight against stablecoins as an element of opposition to the classical financial system on behalf of the Web 3.0 sphere.

This is a global and extremely important event. It should be taken carefully, and you should read the contents of the documents published by the NYDFS regulator about the ban on continuing to issue BUSD. In fact, it means banning BUSD, but it may be followed by a series of lawsuits.

Our experts are sure that Binance was ready for that. And its management will find a legal and reasonable way out of this situation. Further wide usage of BUSD is out of the question. Perhaps, there will be some alternative or solution. The other major exchanges that issue stablecoins should be prepared for an attack and take some action. In fact, war has been declared on all of them.

Dubai bans coins that interfere with transaction tracking, such as Monero and Zcash. Crypto-Upbotes expert review

Dubai (one of the UAE emirates) has banned the issuance and transactions of anonymous cryptocurrencies. The restriction was imposed by a new set of rules on virtual assets and related activities published by the emirate’s regulator, The Dubai Virtual Assets Regulatory Authority (VARA).

Authorities in various countries have a negative attitude towards anonymous cryptocurrencies and take various measures to restrict their use. Because with the emergence of such coins, the number of fraudulent attacks and financial fraud with cryptocurrencies has increased significantly. Attackers often use these tokens to hide the movement of stolen funds.

A set of rules adopted by the Dubai regulator bans cryptocurrencies that “enhance anonymity,” such as Monero, Dash and Zcash. According to the document, this is a type of virtual asset that prevents transactions from being tracked or records of ownership through public blockchains, and for which the VASP (cryptoservice provider) has no technology or mechanisms to track them or determine ownership of them.

The issuance of anonymity-enhancing cryptocurrencies and all activities related to them are prohibited in the emirate, the new law says.

The new rules also establish mandatory licensing for cryptocurrency companies operating in this region. They detail the procedure for issuing, storing and exchanging cryptocurrencies, cybersecurity standards, and requirements for various activities related to digital assets.

Our experts note that after the introduction of compulsory licensing of cryptocurrency-related activities in Dubai. The regulator has already received hundreds of new license applications. To cope with the flood of applications, VARA plans to quadruple its staff over the next few months.

New trend on the crypto market or how popular AI sphere among investors affects the prices of cryptocurrencies

ChatGPT, an artificial intelligence-based chatbot with a billion-dollar investment from Microsoft. In January of this year, it gained 100 million users, becoming the fastest-growing Internet app in history.

In early 2023, digital currencies and artificial intelligence spawned a single breakthrough in the crypto-asset market. And the domestic tokens of AI-related development projects continue to rise in value.

Justin Sun, head of the Huobi exchange and creator of the Tron (TRX) coin, posted on Twitter the idea of a mechanism to create an “AI-centric decentralized payment system” for ChatGPT.

According to his idea, such an environment would create a decentralized payment system. It would thus be secure, reliable, tamper-proof, censor-proof, and able to support AI. This will build a new decentralized, intelligent financial ecosystem.

Last week, OpenAI, the developer of ChatGPT, announced that it would begin charging a $20 monthly subscription to cover computing costs. Until then, the chatbot, launched in late November, had remained free.

Tokens that associate themselves with AI are rising in value

In general, the coins of blockchain projects, which in one way or another involve artificial intelligence. Since the beginning of this year have been the group of the most successful crypto-assets in terms of investment.

Leader in terms of market capitalization in this category, according to CoinGecko, is SingularityNET project coin (AGIX). In the past week alone, this asset rose in value almost 2.5 times, reaching 45 cents. Although it was trading at 7 cents less than a month ago. The developers of the service position it as “the first decentralized artificial intelligence marketplace”. Which is based on Cardano blockchain.

Tokens from the other most capitalized AI projects also continue to rise. This is happening even despite the short-term decline in Bitcoin and the crypto market as a whole. Fetch.ai (FET), a coin platform with machine learning algorithms, gained more than 65% in the past month. And the OCEAN token, used by the Ocean Protocol “data economy” project, has more than doubled since the beginning of January.

Our experts note that projects with relatively low market capitalization are also included in the growth trends. Due to their lower liquidity, large purchases of their tokens inevitably lead to strong price hikes. Thus, the rate of AIRI token belonging to the barely known aiRight platform increased several times in just one day. Its developers declare the use of AI in the creation of NFT. A similar scenario was observed with the IMGNAI token, created to pay for the creation of anime-style images by a neural network project under the unsophisticated name of Image Generation AI.

Success of AI caused the growth of shares not only in crypto companies

Success at ChatGPT has spurred investor interest in AI-based technologies, not just in the crypto market. Last month, the share price of struggling media company Buzzfeed surged. This came after it announced plans to use artificial intelligence to create content. Similarly, shares of little-known public companies soared after they added the word Blockchain to their name. This was at peak cryptocurrency markets in early 2018 and late 2021.

That said, the hype around AI is borne out by the numbers. In January, JPMorgan Bank conducted its annual survey of professional traders about upcoming trends in electronic trading. It surveyed 835 industry representatives from 60 regions around the world.

AI, according to the survey, outperforms all other major categories. For its 53% citation rate, it far outpaces API integration (14%) and blockchain (12%). Only 8% of respondents confirmed that they trade cryptoassets.