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OG Prediction Market by Crypto.com Debuts Before Super Bowl Event

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TLDR

  • Crypto.com has launched OG, a standalone prediction market platform focused on sports, finance, politics, and entertainment events.
  • The platform will offer CFTC-regulated sports event contracts and allow margin trading on prediction contracts for the first time.
  • The first one million users to sign up for OG will receive up to $500 in rewards as part of its launch promotion.
  • OG aims to replicate Crypto.com’s success in the cryptocurrency space by offering a similar user experience and platform growth.
  • Nick Lundgren, Crypto.com’s Chief Legal Officer, will serve as CEO of OG and lead the platform’s growth in the prediction market industry.

Crypto.com has officially launched a new prediction market platform called OG, just days before the Super Bowl. The platform will offer regulated sports event contracts along with predictions on financial, political, cultural, and entertainment events. It aims to be the first platform to provide margin trading on prediction contracts, enhancing its appeal to users.

OG Prediction Market Platform to Offer CFTC-Regulated Contracts

The OG platform will feature prediction markets that are fully regulated by the Commodity Futures Trading Commission (CFTC). The platform will launch with a range of markets, including sports events like the Super Bowl, along with other sectors such as finance and entertainment. Sports events are expected to be a major draw for users, as OG aims to provide an all-encompassing platform for fans to engage in predictions.

Crypto.com sees the launch of OG as a natural extension of its growth in the prediction market business. The company has experienced 40x growth in its prediction market sector over the past six months. This surge in activity prompted the need for a standalone platform to better cater to its growing user base.

Crypto.com’s Co-Founder and CEO, Kris Marszalek, expressed confidence in OG’s potential. “Crypto.com successfully built one of the largest brands and best app experiences in cryptocurrency. Now, we will replicate this experience with OG in the prediction market space,” he said. The launch of OG comes at a pivotal time as the CFTC prepares to introduce new rules for prediction markets in the United States.

Nick Lundgren, who currently serves as Crypto.com’s Chief Legal Officer, will lead OG as CEO. He previously played a key role in the acquisition of Crypto.com’s CFTC-registered exchange and clearinghouse, which led to the creation of OG. Lundgren emphasized the vast opportunity prediction markets present, calling it a “deca-billion dollar industry.”

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Exclusive Rewards and Partnerships for Early Adopters

OG will reward its first one million users with up to $500 in rewards. The platform will also offer exclusive access to experiences through Crypto.com’s established sports partnerships. These include deals with organizations like UFC, Formula 1, and the UEFA Champions League. OG plans to leverage these relationships to build a loyal user base and strengthen its position in the market.

The launch of OG comes ahead of the Super Bowl, one of the most widely viewed sports events globally. By offering prediction contracts for such high-profile events, Crypto.com aims to capture the attention of a diverse audience. As it rolls out its services, OG will initially focus on the U.S. market, where it has the backing of its CFTC-registered exchange.

OG’s debut marks a significant milestone in Crypto.com’s expanding presence in the prediction market space. The company is committed to providing users with an engaging, secure, and regulated platform.

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Crypto World

Why Cardano Investors Are Moving Assets to Self-Custody Now

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ADA Price


“Currently, a 10 billion market cap, this thing is not even worth $1 billion,” one X user argued.

The latest cryptocurrency market crash was brutal, sending Cardano’s ADA to multi-month lows.

Some analysts believe the storm may not be over, warning the price could nosedive by as much as 75% in the short term.

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The Bad Days for the Bulls Aren’t Over?

Several hours ago, ADA plunged to 0.27, the lowest level since August 2024. Currently, it trades at around $0.29 (per CoinGecko’s data), representing a 15% decline on a weekly scale.

ADA Price
ADA Price, Source: CoinGecko

The well-known analyst DrBullZeus claimed that the asset is now nearing “a must hold support zone” at the range of $0.24-$0.28. He thinks that breaking below that level could result in a price crash to $0.125 and even $0.075.

The popular trader Matthew Dixon also chipped in. He suggested that “technically speaking,” ADA has retraced in three waves since the local top seen towards the end of 2024. He outlined $0.24 as a “very important long-term support,” predicting that as long as it holds, the price could rebound.

“A break of support would be a serious concern,” he alerted.

Prior to that, Harmonic Trader predicted that in six months, ADA might trade under $0.10. “Currently, a 10 billion market cap, this thing is not even worth $1 billion,” they argued.

Time to Rally?

Despite ADA’s recent price decline, some other analysts remain optimistic that a resurgence could be on the way. One of them, using the X nickname “Lucky,” asked their almost two million followers whether they plan to increase their exposure to the token at current rates. The analyst also envisioned a potential pump to nearly $1 in the near future.

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LaPetite is also bullish. Several days ago, he forecasted that ADA is about to go “parabolic,” claiming that “huge announcements” concerning Cardano are coming soon.

The recent exchange netflows signal that a rebound could indeed be on the horizon. Data provided by CoinGlass shows that over the past days and weeks, outflows have significantly outpaced inflows. This means investors have been shifting from centralized platforms to self-custody, which in turn reduces immediate selling pressure.

ADA Exchange Netflow
ADA Exchange Netflow, Source: CoinGlass
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Aave Shutters Avara Brand and Family Crypto Wallet

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Aave Shutters Avara Brand and Family Crypto Wallet

Aave Labs says it is sunsetting its “umbrella brand” Avara in the company’s latest move to refocus on decentralized finance and simplify its branding.

Aave founder and CEO Stani Kulechov posted to X on Tuesday that Avara, a company encompassing projects including the Family crypto wallet and previously the social media platform Lens, “is no longer required as we go all in on bringing Aave to the masses.”

Kulechov said the Apple iOS-based Family crypto wallet was also being wound down as the team has “learned that onboarding millions of users requires purpose-built experiences, such as savings, rather than generic, open-ended wallet experiences.”

The move marks Aave’s latest effort to refocus on products such as its flagship lending protocol as the project handed stewardship of Lens to the Mask Network last month, with Kulechov saying Aave’s role in the protocol would be reduced to an advisory role so it can focus on DeFi.

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Source: Stani Kulechov

Kulechov said in his latest post that Aave was “now united as one team of world-class designers, engineers, and smart contract experts, aligned around a single mission: bringing DeFi to everyone.”

All future projects under Aave Labs

Avara said in a blog post that “all current and future products, including the Aave App, Aave Pro, and Aave Kit, will operate under Aave Labs” to simplify the brand.

It added that accounts linked to the Family wallets “will continue as core infrastructure within Aave Labs products,” but the iOS app would be wound down over the next year.

No new users will be onboarded to the app from April 1, and existing users can continue using the app until April 1, 2027, and will continue to have full access to their funds on Aave’s website.

Related: There is no trust in DeFi without proper risk management

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Aave is the biggest DeFi protocol with $30 billion in total value locked, nearly $9 billion more than the next largest project, the staking protocol Lido, which has $21.7 billion in value locked, according to DefiLlama.