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Funex club has experienced numerous ups and downs throughout its journey. We have a huge community that helps us to achieve a lot of milestones and they made our journey worthwhile.
Funex's Journey Begins with Research & Concept Creation
The Initial Website & Whitepaper got Designed
Funex Coin Development began on Quark Algorithm
Bitcointalk Forum got Released & Quark-Based Coin Ready for Beta Testing
Funex Mobile & Web Wallet Development Started
Funex Coin Deployed on Binance Smart Chain (BEP20)
Funex Coin Deployed on Ethereum (ERC20) & Tron Blockchain (TRC20)
Funex Coin Listed on SunSwap (Decentralized Exchange)
Funex TRC20 Token Listed on VinDAX (Centralized Exchange)
Funex New website design
Multichain Wallet Development Started
Funex Coin Ecosystem Developed
Funex Coin Staking Program Introduced & Mobile Wallet Upgraded
New Blockchain Support Added Including BTC, ETH, LTC, BNB, DOGE, DASH, etc.
Funex Pro Development Started
3rd Sept. - Funex Listing on Localtrade
5 Sept - 25 Sept Funex Coin IEO on Coinsbit
Coinsbit Listing - 30 Sept. 2022
Funex Company Legal Incorporation Started
Funex Airdrop 10th - 15th
Funex Coin ICO
Funex Pro Launch
BNB & Polygon Chain Integrated
40+ New Coin Support Enabled
Funex Bitmart
Funex Centralized Exchange Development
Metaverse Casino Game Development and the Funex Club's journey will continue to progress.
As Bitcoin (BTC) continues to set new all-time highs (ATH) – reaching $123,218 on Binance on July 13 – on-chain data reveals a shift in holder behavior that could threaten the cryptocurrency’s bullish momentum. Bitcoin Holder Rotation May Derail Rally According to a CryptoQuant Quicktake post by contributor IT Tech, long-term Bitcoin holders (LTH) – those holding BTC for over 155 days – have transitioned into net distribution, suggesting seasoned investors are engaging in profit-taking. Meanwhile, short-term holders (STH) – those who have held BTC for less than 155 days — have recently turned net positive, indicating they are buying into BTC’s current rally in anticipation of further gains. Historical data shows that similar trends among LTH and STH were observed back in April 2021 and November 2023. During both these instances, BTC witnessed a cooling phase or a local top when spot demand faded. Related Reading: Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling? In their analysis, IT Tech suggested keeping an eye on exchange inflows and funding rates for confirmation. If spot BTC inflows to crypto exchanges surge, it could hint that sell-pressure is likely to increase, which may derail the digital asset’s bullish trajectory. Supporting this view, CryptoQuant contributor Arab Chain noted that the Spent Output Value Ranges (SOVR) indicator shows a spike in BTC transfers to exchanges from wallets holding 1,000 to 10,000 BTC – typically associated with whales. For the uninitiated, the SOVR indicator tracks on-chain BTC transfers by value buckets to identify which investor segments are active. It helps reveal whether retail, mid-sized, or institutional players are driving market activity. This aligns with IT Tech’s observations on long-term holders. If selling pressure intensifies, BTC could correct down to a support level near $111,800. Not All Analysts See Rally Exhaustion Although Bitcoin LTH entering distribution phase, and whales increasing their deposits to crypto exchanges may point toward a potential end for the current rally, not all analysts share the same sentiment. Related Reading: Bitcoin Profit-Taking Spikes Without Price Drop – Strong Demand Or Delayed Reaction? For instance, the STH Market Value to Realized Value (MVRV) suggests BTC may still be undervalued, indicating potential for further upside. If that holds, Bitcoin could climb as high as $150,000 before any major pullback. Additionally, a fresh injection of $2 billion in liquidity to major crypto derivatives platforms could help reignite bullish momentum. However, caution remains warranted. The Bitcoin NVT Golden Cross has been climbing steadily, giving early signs of an overheated market. At press time, BTC trades at $118,754, up 0.4% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
Sharplink Gaming Inc. has filed to sell up to $5 billion worth of additional common stock, primarily to fund the purchase of ether for its corporate treasury. Sharplink Expands Stock Offering to $6B Total The Minneapolis-based online gaming marketing company disclosed the plan in a Securities and Exchange Commission (SEC) filing this week. The new
As of Wednesday, at least eleven IP addresses have actively tried to exploit the vulnerability, with thousands more addresses possibly doing reconnaissance work.
Tom Lee devoted a six-post thread on X yesterday to a single proposition: if companies treat Ethereum (ETH) the way MicroStrategy treats bitcoin, the token price need only follow the mathematics of balance-sheet absorption to reach roughly $30,000. Lee’s argument rests on the mechanics he says really powered MicroStrategy’s spectacular equity rerating. From 11 August 2020 through today the software company’s shares climbed from $13 to about $455, a 35-fold gain. Only eleven of those thirty-five turns came from bitcoin’s own rise—roughly $11,000 to $118,000 in the same period—while twenty-five turns were created by “treasury strategy,” Lee wrote, meaning repeated financings that increased BTC per share even faster than the coin’s spot price. Ethereum To $30,000? Lee lists three moves that made the template work and, in his view, will be even more potent for ETH: issuing new stock above net-asset value to acquire more tokens, exploiting token volatility to lower borrowing costs, and relying on convertibles or preferred shares to cap dilution. Because ether’s realised volatility still exceeds bitcoin’s, Lee argues the cost of debt-and-option structures used to lever the treasury can be driven lower still, accelerating token accumulation. Related Reading: Ethereum Road To $10,000: Replay Of May’s Playbook Predicts Another Breakout In the same thread he reposted a chart showing that his own vehicle, BitMine Immersion Technologies, purchased four times more notional value in its first week of activity ($1 billion in ETH) than MicroStrategy bought in its first week of bitcoin purchases back in 2020. BitMine’s numbers illustrate the scale. A regulatory filing and follow-up press release on 17 July confirmed the company now holds 300,657 ETH—just over $1 billion at the time of publication—after closing a $250 million private placement on 8 July. Lee, who chairs BitMine’s board, said the firm is “well on our way to acquiring and staking five per cent of the overall ETH supply.” The second-largest treasurer is SharpLink Gaming, chaired by Ethereum co-founder Joseph Lubin. On 17 July the company updated its SEC prospectus to increase the stock it can sell from $1 billion to $6 billion, saying proceeds will fund additional ETH purchases. SharpLink had already raised $413 million between 7 and 11 July and disclosed 280,706 ETH on its books as of 13 July, all but a few hundred of which are staked for yield. Related Reading: Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst Bit Digital rounds out the trio. After a $172 million underwritten share sale on 7 July and the liquidation of 280 bitcoin, the Nasdaq-listed miner reported a treasury of 100,603 ETH and declared its intention to become “the pre-eminent ETH holding company in the world,” according to chief executive Sam Tabar. Taken together, the three firms now control roughly 682,000 ETH, or about half a per cent of the circulating supply, and each has active authorisations to issue more equity or debt expressly for ether accumulation. Lee insists the reflexive loop this creates—higher share prices providing ever-cheaper capital that buys still more token per share—can compress the time it takes for price to capture scarcity. Crypto analyst DCInvestor, responding to Lee’s thread, distilled the mathematics into a range: “Tom Lee basically calling for like $30-80K ETH. And some of you think we are gonna stop $1-2K after last cycle’s all-time high.” Ether changes hands today near $3,600. An eight-fold move to $30,000 would merely replicate the multiple that bitcoin logged between MicroStrategy’s first treasury purchase and its 2021 peak. The difference, Lee argues, is that MicroStrategy spent four years proving the model; Ethereum treasuries have taken less than two months to raise their first few billion dollars. Featured image created with DALL.E, chart from TradingView.com
Ether.fi, best known for its Ethereum liquid restaking service, said it is entering the HyperLiquid ecosystem in conjunction with DeFi protocol HyperBeat and will offer a liquid staking token called beHYPE. The venture will initially offer a multisig-secured vault, preHYPE, that enables early deposits ahead of the full beHYPE rollout. Ether.fi will take care of the security framework and infrastructure. HyperBeat, which is native to HyperLiquid, will provide integration and yield strategies, according to a press release shared with CoinDesk. The vault will transition to a fully smart contract-based system within six weeks, the team wrote. The partnership is set against a backdrop of rapidly growing interest in HyperEVM, a component of the HyperLiquid environment designed to integrate the Ethereum Virtual Machine into the blockchain. The total value locked (TVL) on HyperEVM has surpassed $2 billion since its mainnet debut in February, the HyperLiquid team said. Early participants in the preHYPE vault will receive competitive staking yields, enhanced by an allocation of “hearts,” HyperBeat’s pre-token generation event incentive points. Read more: Ether.Fi to Launch Visa 'Cash' Card on Scroll Network
The growing popularity of Bitcoin ETFs and treasury companies is reshaping how investors hold Bitcoin — raising questions about the core principle of "not your keys, not your coins."
The lack of yield-bearing options for US-regulated stablecoins under the GENIUS bill will drive investors to search for interest elsewhere, analysts said.
On Friday, Coinbase’s stock COIN hit a fresh peak of $444 per share, topping its previous record from the company’s 2021 initial public offering (IPO). At the same time, several other crypto-related stocks had a mixed run, echoing bitcoin’s own uneven momentum as the weekend approached. Crypto Stocks See Fireworks as Coinbase Smashes Past 2021
Remember Terra? Do Kwon’s layer 1 was designed in such a way that its native token, LUNA, worked in tandem with the network’s algorithmic stablecoin, UST. When you minted new UST, you destroyed LUNA tokens (thereby constricting supply), and when you redeemed UST, you created new LUNA (expanding supply). That system worked wonderfully as long as UST experienced great demand — which it did, for a while, thanks to a 20% yearly interest on the coin supplied by Anchor Protocol. But in May 2022, huge selloffs caused UST to lose its $1 peg; market participants rushed to redeem their UST, creating a massive new amount of LUNA and pushing the token’s price down, which of course led to more UST redemptions, and so on. Over $40 billion in market value was obliterated in 72 hours. Terra’s collapse shook the crypto industry, which back then was levered to the gills. Crypto hedge fund Three Arrows Capital blew up , while crypto lenders such as Voyager , BlockFi and Celsius went bust. If that wasn’t enough, the U.S. imposed sanctions on Ethereum’s Tornado Cash, sending developers all over the world in a bit of a panic. After CoinDesk’s Ian Allison reported in November 2022 that Alameda was quite possibly broke, people started yanking their funds out of FTX, which led Bankman-Fried to freeze withdrawals. It turned out that SBF had been fraudulently using FTX customer funds to palliate losses incurred by Alameda Research over the course of the years. Bankman-Fried was arrested (and subsequently sentenced to 25 years in prison) shortly after FTX filed for bankruptcy. Shortly after FTX’s demise, SEC Chair Gary Gensler began an aggressive campaign against the sector, suing a huge number of crypto firms (including Coinbase and Kraken ) and ushering in an era of “regulation by enforcement” that was decried by the industry and friendly members of Congress alike. That wasn’t the end of crypto’s tribulations. Crypto lender Genesis and bitcoin miner Core Scientific were soon added to the list of casualties. Worse, in March 2023 three crypto-friendly banks (Signature, Silvergate and Silicon Valley Bank) suffered from bank-runs and collapsed , making it significantly more difficult for crypto firms to access the banking system. Nic Carter, a prominent crypto VC, accused the Biden administration of trying to debank the crypto industry by employing an Obama-era strategy, a theory which has since gained traction within Congress and the Trump administration. But the winds of fortune finally turned in crypto’s favor. When BlackRock filed for a spot bitcoin ETF in June 2023, it felt like Larry Fink himself was shooting a flare in the dark, signaling that Wall Street was ready to embrace crypto. Two months later, Grayscale defeated the SEC in court on the matter of converting its bitcoin trust into an ETF. The agency had little choice than to greenlight a dozen spot bitcoin ETFs in January 2024, which later became the most successful new ETFs of all time. At first showing signs of reluctance about launching spot ether ETFs, the SEC suddenly scrambled to approve the products at the last minute. Some observers linked the change of heart to Trump’s new friendliness towards the crypto industry, which contrasted with Joe Biden’s hostility . The fact that the crypto industry donated a tremendous amount of money to the former’s campaign (and to other pro-crypto politicians) certainly helped as well; we saw yesterday that the Democratic Party, once in lockstep with Elizabeth Warren’s anti-crypto crusade , strongly voted in favor of both the GENIUS and Clarity bills. Trump’s overwhelming victory in November sent shockwaves through Washington and the crypto industry. The new administration kept its word, though not without hiccups in the form of Trump- and Melania-themed memecoins . Ross Ulbricht is now a free man , and an executive order has been signed to constitute a bitcoin reserve (multiple states, like Texas, Arizona and New Hampshire, have followed suit ). Treasury’s OFAC has taken Tornado Cash off of the sanctions list , while the SEC has dropped most of its lawsuits and is gearing up to greenlight a bunch of new crypto ETFs. Debanking is no longer a concern . Congress, meanwhile, just passed the GENIUS Act (which creates a framework for regulating stablecoins (unthinkable in the wake of Terra’s collapse!!) and will probably pass the Clarity Act (a more complex piece of legislation that assigns clear jurisdiction to the SEC and CFTC when it comes to crypto) before the end of the year. Not to mention that Coinbase stock is trading at record highs, Tether is now seen as one of the most successful businesses in the world, Circle has gone public, Core Scientific (back from the dead) is on track to get acquired by AI firm CoreWeave, and Michael Saylor’s bitcoin evangelization has given birth to a horde of companies looking to follow in his footsteps to purchase as much BTC (or ETH or SOL or even DOGE ) as they possibly can. All of these events have been reflected in bitcoin’s price. The orange coin, which you could briefly buy for $16,000 after FTX collapsed, is now priced at roughly $120,000, and the total market capitalization of the crypto sector is near $4 trillion (up from $830 million in December 2022).
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