Bitcoin

Bitcoin staking Layer-2 Social Network announces mainnet launch

Social Network has announced its mainnet launch, scheduled for April 22. The fair launch will also include a gamified “touch grass” NFT experience for participants. Social Network, a Bitcoin staking Layer-2 solution, has announced the launch of its mainnet as it seeks to add to Bitcoin’s scalability. The platform’s mainnet launch is set for April…

Social Network has announced its mainnet launch, scheduled for April 22.
The fair launch will also include a gamified “touch grass” NFT experience for participants.

Social Network, a Bitcoin staking Layer-2 solution, has announced the launch of its mainnet as it seeks to add to Bitcoin’s scalability.

The platform’s mainnet launch is set for April 22, and will herald the start of a new incentive model for the burgeoning economy on the world’s largest blockchain network.

Social Network’s fair launch to include gamified experience

According to details shared with CoinJournal, Social Network’s launch comes after the team recently finalized a key milestone. This involved the launch of 369 Regens on Bitcoin’s block 9, a block that BTC creator Satoshi Nakamoto mined in 2009.

Social Network opened early access to the fair launch to more than 10,000 testnet contributors and the 369 Bitcoin Regen holders on April 1. The project will expand this to the public on April 14.

“Social Network represents a significant leap forward for Bitcoin, making it more accessible, efficient, and beneficial to the environment,” said Sukhveer Sanghera, Founder and CEO of Earth Wallet and Core Contributor to Social Network.

“We are excited to invite early adopters to join us on this journey to unlock Bitcoin as a utility for Earth scale regeneration, and experience the benefits firsthand,” Sanghera added.

As well as the fair launch, Social Network has revealed plans for an NFT experience for users.

While the platform looks to bolster decentralized access to staking rewards on Bitcoin, the Pokemon Go-like offering is designed to provide a gamified experience for participants.

The target, according to the team, is to promote both a fair global distribution as well as align the ecosystem with its sustainability goals.

“The gamification aspect of Social Network’s fair launch is a unique and engaging way to encourage people to explore the outdoors and reconnect with nature,” Elizabeth Tan, a Social Network contributor said.

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Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”