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SaTT Breaks the Bank With $1 Million Collected in 48 Hours – The ICO Race Is Back?

After 2 years of development and an initially difficult experience (in the middle of a bear market), the SaTT project, which offers an original advertising solution based on blockchain and is already working with the biggest social networks such as Facebook, Twitter, YouTube, and Instagram, has just achieved exceptional performance, selling more than a million […]

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After 2 years of development and an initially difficult experience (in the middle of a bear market), the SaTT project, which offers an original advertising solution based on blockchain and is already working with the biggest social networks such as Facebook, Twitter, YouTube, and Instagram, has just achieved exceptional performance, selling more than a million dollars of its SaTT tokens…in less than 48 hours.

Does this performance, which took everyone by surprise, signal the return of euphoria around ICO and blockchain projects?

Are we going to see a comeback of ICOs on the market?

An ICO (Initial Coin Offering) is a method of fundraising that works by issuing digital assets exchangeable for cryptocurrency during the start-up phase of a project.

These digital assets are called tokens. This is why ICOs are also referred to as “token sales”

In 2017, ICOs were on a roll, so much so that not a day went by without new iterations of this new type of fundraising being offered to curiosity – and let’s not be afraid to remind ourselves of this – in a kind of speculative frenzy to investors who saw the opportunity to potentially increase their stakes tenfold in an instant. Any rapprochement with the current hysteria around Decentralized Finance (DeFi) would be perfectly opportune.

In 2017, 4.9 billion dollars was raised through ICOs with just over 850 different projects, and up to 6.3 billion dollars in 2018 with more than 1,100 projects.

By 2019, the sector was running out of steam and the hype was waning, due to many unsound projects, which are hastily put together, or even purely dummy projects.

At the same time, investments dropped by 95% and fell back to around $371M of financing only. This sudden drop is mostly the result of the actions of a few malicious actors and a form of amateurism on the part of many project leaders.

The balance sheet is not very bright and in full “crypto-winter”, it is time for a hangover. According to a recent study, 80% of ICOs could be called “scams”, with only 8% of the operations finally resulting in a listing on a correct secondary market and very few having even simply delivered a functional product.

This field of ruin has weakened the industry and left many investors on the sidelines, the financial market authorities, and in particular, the SEC, going to war against ICOs who do not respect the rules of the game, distributing large fines and penalties.

However, even if the ICOs have not managed to convince in 2017, the blame for this lies mainly with the vultures who, in a still immature environment, have taken advantage of the inexperience and FOMO (fear of missing an opportunity) of investors to rob the naïve.

Indeed, fundraising in crypto as of 2017 was of absolute technological and financial relevance, and two years later, this has never been more true. Indeed, with the return of the bull market, the recent explosion of the Decentralized Finance market, and now clear and defined regulations, we are witnessing the emergence of Season 2 of ICOs, and even the re-emergence of promising old ICOs that are resurfacing after a period of hibernation.

A perfect illustration of the phenomenon, the SaTT project, is thus part of this category of resilient projects which, rather than giving up when the winds were bad, has taken advantage of the last two years to refine its project, confirm its business model while forging a simple conviction: the relevance of its proposal to revolutionize the dominant advertising model would eventually impose itself.

The bet is about to be won: carried by a French team, SaTT, has just raised more than 1 million dollars in less than 48 hours… and sales continue to explode!

About SaTT’s blockchain advertising solution:

The SaTT project gives everyone the opportunity to become an influencer in a virtuous ecosystem: more efficient, more readable, and more economical for advertisers, and fairer and more remunerative for a new category of influencers in full expansion, looking for new decentralized models and avoiding traditional intermediaries.

Thus, the SaTT solution, with the token of the same name, allows remunerating the accounts of social networks of influencers thanks to a smart-contract according to the performances of their publications (views, likes, comments, sharing…). The blockchain allows automation of the process in real-time, in full transparency.

The solution comes with an easy-to-use crypto portfolio so that even the most layman in blockchain technologies can use SaTT easily.

SaTT to the Moon: $1 million raised in 48 hours

Discover SaTT is making a cruel and universal observation: the best of projects pushed by the most pugnacious of teams and with the most brilliant ideas can do nothing if it comes at the worst possible moment.

SaTT, therefore, launched its first ICO in 2018 in the middle of the bear market, a painful period as we have seen, for all lovers of bitcoin and blockchain. This did not prevent the project from remaining Top 1 for more than 6 months out of more than 5,000 projects on the ICO ranking site “ICOBench”, a site that brings together the analysis of various experts in the blockchain and ICO sector.

Since then, the SaTT team has not given up an inch. Subscriptions have remained open, allowing investors to continue to have the opportunity to “get in” on the project, as it continues to progress and demonstrate the solidity of its foundations.

And it is in this context that SaTT has raised $1 million in the last few days! And again, we are talking about an amount established 24 hours ago, an eternity in the tumultuous world of crypto… It is suggested that this amount would have already been more than exceeded, demonstrating an unprecedented enthusiasm for the SaTT token less than 3 weeks from its listing on the platforms.

“We are proud of the support of our community, who, despite the difficulties of the market, saw in the team the potential to realize the first cryptographic solution for functional advertising,” Gauthier Bros, CEO of Atayen

Discover ATAYEN, the company behind the SaTT project

The company behind SaTT is Atayen, which counts more than 9 Facebook applications developed, customers such as Coca-Cola, McDonald’s, Netflix, a base of 1,000,000 users, and a team working together since 2011.

The SaTT project also benefits from the support of renowned consultants such as Richard Wang from the Dragon Draper Digital investment fund and Eric Alexandre, founder of JetCoin. As well as Quentin Herbrecht, Blockchain consultant at the European Commission and founder of Markchain, the blockchain marketing & PR company that accompanies SaTT in this success story who has recently been noticed in the industry for having supported the biggest ICOs of 2020.

Source: https://www.newsbtc.com/2020/09/05/satt-breaks-the-bank-with-1-million-collected-in-48-hours-the-ico-race-is-back/?utm_source=rss&utm_medium=rss&utm_campaign=satt-breaks-the-bank-with-1-million-collected-in-48-hours-the-ico-race-is-back

Blockchain

Another One: Galaxy Digital and CI GAM to Launch a Bitcoin ETF in Canada Tomorrow

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Yet another Bitcoin ETF is to reach the markets in Canada as the country’s securities regulator has issued “a receipt for the final prospectus” for CI Global Asset Management’s application. Dubbed CI Galaxy Bitcoin ETF (BTCX), it’s expected to launch on the Toronto Stock Exchange (TSX) on March 9th, and Mike Novogratz’ Galaxy Digital Capital Management will act as the sub-advisor. 

  • Founded in 1965, CI Global Asset Management is an asset manager with over $180 billion in AUM as of January 2021. The firm announced the nod of approval received from Canada’s securities regulator necessary to launch its own Bitcoin ETF earlier today. 
  • The statement described BTCX as a tool that could “provide investors with a convenient way to gain exposure to bitcoin through an institutional-quality fund platform.” It will invest directly in the primary cryptocurrency with its holdings priced using the Bloomberg Galaxy Bitcoin Index. 
  • CI GAM will serve as the manager of the ETF, while Galaxy Digital Capital Management, whose founder and CEO is the long-time BTC proponent, Mike Novogratz, will act as “the bitcoin sub-advisor.” Meaning, that GDAM will execute the BTC trading on behalf of the ETF 
  • “We believe the emerging digital asset class presents compelling growth and diversification opportunities. The CI Galaxy Bitcoin ETF offers a simple and secure access point for traditional investors to gain exposure to bitcoin.” – commented Partner and Head of Asset Management at GDAM, Steve Kurz. 

  • Apart from BTCX, the two parties have also filed for launching the “first ETF in the world to invest directly in Ether” – CI Galaxy Ethereum ETF (ETHX). 
  • It’s worth noting that BTCX would not be Canada’s first Bitcoin ETF. CryptoPotato recently reported the first approval for the Purpose Bitcoin ETF, which enjoyed a highly-positive start, accumulating more than $400 million in a few weeks. 
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Source: https://cryptopotato.com/another-one-galaxy-digital-and-ci-gam-to-launch-a-bitcoin-etf-in-canada-tomorrow/

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Blockchain

Ethereum, Monero, FTX Token Price Analysis: 08 March

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Ethereum recaptured a key resistance mark at $1,687, a level that had not been breached since the broader market pullback in late-February. Monero lacked the trading volumes and buying intensity to flip the 38.2% Fibonacci retracement level. Lastly, FTX Token eyed a rise above its overhead resistance but the indicators presented the chances of a short-term reversal.

Ethereum [ETH]

Source: ETH/USD, TradingView

Ethereum retook the $1,680 level from the bears thanks to a surge of 6% in the last 24 hours. Gains in the last eight days amounted to over 30% and underscored ETH’s bounce back from the $1,300 level. The On Balance Volume showed strong buying at two key support levels – one at the $1,300 mark and the other at $1,437 as the price headed northbound on the charts. However, the OBV made steady highs over the past few sessions and even dipped at the time of writing.

The RSI pointed lower from just below the overbought zone and showed weakening bullish strength in the market. This reinforced the idea that a hike in trading volumes could be needed before steering clear of the next test at $1,834.9 and especially if the uptrend were to sustain itself.  In the event of a pullback, the newly flipped resistance at $1,687.65 could act as a crucial line of support.

Monero [XMR]

Source: XMR/USD, TradingView

Low trading volumes and short-bodied candlesticks on Monero’s 4-hour chart showed a dearth of interest in the market but the bulls still held on to the 23.6% Fibonacci retracement level. A breakout above the 38.2% level could depend on stronger cues from the broader market, which would spur buying in the Monero market as well.

The ADX pointed lower and towards the 10-mark, showing a lack of a strong trend. The flow of capital towards the cryptocurrency created some optimism, but the price remained within its channel even as the CMF rose sharply above the half-way mark. The index reversed direction and pointed towards the half-line at the time of writing.

FTX Token [FTT]

Source: FTT/USD, TradingView

The Bollinger Bands on FTX Token expanded at press time and showed rising volatility as the price looked to flip $31.49 resistance. The presence of volatility allowed for large price swings and a break above the upper ceiling looked imminent over the coming sessions. Even though the Stochastic RSI traded in the overbought region, it pointed upwards after retesting the upper line and indicated a delayed stay in its current region.

However, there was also a possibility of a short-term pullback due to saturation in the market. A fall below the press time support level would highlight the next line of defense at $24.67.


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Source: https://ambcrypto.com/ethereum-monero-ftx-token-price-analysis-08-march

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Norwegian energy firm Aker’s three-pronged approach to Bitcoin

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Energy company Aker ASA, which is based in Oslo, Norway has established a dedicated firm to invest in the Bitcoin ecosystem and related projects. Dubbed ‘Seetee AS,’ this new venture has a capitalization of $58 million and will invest Aker’s liquid assets in the digital currency. 

Øyvind Eriksen, President and CEO of Aker stated that Seetee’s launch will help the Aker Group gain industrial opportunities “that will be unlocked by Bitcoin and blockchain technology.” He further said in a statement: 

These technologies [such as Bitcoin and blockchain] have the potential to reduce frictions in our day-to-day lives, enhance the security of our digitally-driven economies, and unlock new business models for innovation. 

In a letter to investors, Chairman Kjell Inge Røk­ke revealed Seetee’s three-pronged approach to Bitcoin, which is al­ready run­ning “open-source Bit­coin pay­ment servers.” According to Røk­ke, the oil and gas firm will work alongside Canadian crypto-focused firm Blockstream and other partners.

Aker Group expects See­tee to set-up min­ing op­er­a­tions even though the local government no longer offers electricity subsidies to miners. However, the group’s  am­bi­tion is to be “a valu­able part­ner in new re­new­able projects:”

See­tee will es­tab­lish min­ing op­er­a­tions that trans­fer strand­ed or in­ter­mit­tent elec­tric­i­ty with­out sta­ble de­mand lo­cal­ly—wind, so­lar, hy­dro pow­er— to eco­nom­ic as­sets that can be used any­where. Bit­coin is, in our eyes, a load-bal­anc­ing eco­nom­ic bat­tery, and bat­ter­ies are es­sen­tial to the en­er­gy tran­si­tion re­quired to reach the tar­gets of the Paris Agreement. 

Finally, Aker is keen on mi­cro­pay­ments and how it could en­able the firm to avoid users’ per­son­al data be­ing mon­e­tized. Røk­ke further said: 

I’m fas­ci­nat­ed by the prospect of bitcoin Light­ning wal­lets that may en­able in­stant cred­it via mi­cro­pay­ments with­out the need to of­fer per­son­al in­for­ma­tion that my coun­ter­part can mon­e­tise with­out ap­proval or com­pen­sa­tion.

The Chairman also was bullish on Bitcoin and expects the asset to trade for “millions of dollars.” He believed that peo­ple who “know the most about Bit­coin” be­lieve its fu­ture suc­cess is “near­ly in­evitable.”


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Source: https://ambcrypto.com/norwegian-energy-firm-akers-three-pronged-approach-to-bitcoin

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