Optimism attempting an invh&s breakoutOptimism leading the pack today, no guarantee it will maintain the neckline as support just yet though. I believe the fundamental news about it being one of the new 5 chains BUIDL will be on is contributing to the bullish momentum. This would make since because arbitrum is doing equally well right now also. *not financial advice*
Buidl
SOIL $SOIL of Blackrock: The BUIDL project.Project description:
SOIL is a decentralized platform focused on regenerative agriculture and sustainability, utilizing blockchain technology to promote transparency, carbon offset trading, and sustainable farming practices through tokenized assets.
Type of project:
Sustainability and regenerative agriculture with blockchain integration.
Is it under a block?:
Yes, SOIL operates on Ethereum and other compatible blockchains, using smart contracts to track carbon credits and facilitate trading in the sustainability sector.
Latest update or news:
As of August 2024, SOIL introduced its Carbon Credit Marketplace, enabling farmers and businesses to tokenize and trade carbon offsets, further driving adoption of sustainable agricultural practices through blockchain.
Narrative:
Sustainability, regenerative agriculture, carbon credits, and blockchain-based environmental solutions.
Why is it a good investment?
Institutional Backers and Angel Investors:
Consensys:
Consensys, a blockchain development firm, has backed SOIL for its innovative approach to integrating blockchain with sustainability and regenerative agriculture, focusing on the carbon credit market.
Vital Capital:
Vital Capital, an impact investment firm, has supported SOIL, recognizing its potential to drive environmental and social impact while creating a tokenized market for carbon credits and sustainable farming.
Parafi Capital:
Parafi Capital has invested in SOIL to further explore how blockchain can disrupt the sustainability and carbon offset markets, especially through decentralized infrastructure.
Angel Investors:
Meltem Demirors (CoinShares):
While not a direct investor, Demirors has spoken in favor of projects like SOIL that focus on blockchain-based sustainability and carbon markets, aligning with the broader ESG movement.
Sandeep Nailwal (Co-founder of Polygon):
Nailwal has expressed interest in blockchain projects that tackle environmental issues, and while no direct investment is confirmed, SOIL’s focus on sustainability resonates with his support for blockchain’s role in environmental solutions.
Futuristic Use Case:
Carbon credit trading on blockchain:
SOIL enables the tokenization of carbon credits, allowing farmers and businesses to trade these credits transparently on the blockchain. This democratizes access to carbon offset markets and drives sustainable practices globally.
Regenerative agriculture incentives:
Through blockchain-based rewards, SOIL incentivizes farmers to adopt regenerative agriculture techniques, offering tokenized rewards for sustainable practices and promoting environmental stewardship.
Blockchain-based supply chain transparency:
SOIL provides a transparent system for tracking the origins of agricultural products, ensuring that they are produced using sustainable methods, which can appeal to environmentally conscious consumers and businesses.
Integration with DeFi and ESG finance:
SOIL is positioned to integrate with decentralized finance (DeFi) to create financial products centered around sustainability, allowing investors to earn returns while supporting environmental projects through tokenized carbon credits and ESG-driven investments.
Why will it make a significant amount of profits?
Unique competitive edge:
SOIL is one of the few blockchain projects focused specifically on regenerative agriculture and carbon credits, giving it a unique position in the sustainability and environmental finance markets.
Growing demand for carbon credits and sustainability solutions:
As global businesses and governments prioritize sustainability and carbon neutrality, the demand for transparent and efficient carbon credit trading solutions will grow. SOIL’s blockchain-based approach offers a more secure and transparent method of trading carbon offsets, which will drive adoption.
Revenue from carbon credit marketplace:
SOIL’s Carbon Credit Marketplace allows users to trade tokenized carbon credits, generating transaction fees and ensuring a consistent revenue stream as businesses and individuals increasingly engage with carbon markets.
Long-term integration with ESG investments:
As environmental, social, and governance (ESG) investments become more prominent, SOIL is well-positioned to integrate its platform into ESG-driven financial products, attracting institutional investors focused on sustainability, thus increasing demand for MIL:SOIL tokens.
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Market Update - March 28, 2024
LSE announces launch of new crypto ETNs as BTC ETFs reverse outflow trend: The London Stock Exchange announced this week that they plan to launch BTC and ETH ETNs by the end of May, signaling further ongoing interest in crypto-related products. Coupled with a reversal in BTC ETF outflows, these developments have helped to renew market optimism and push the price of BTC back above the $70K level, a +15% rise from the low of $61K only one week ago.
BlackRock steps further into digital assets with launch of BUIDL: The BlackRock USD Institutional Digital Liquidity Fund, called BUIDL, will allow qualified investors to earn U.S. dollar yields paid out through blockchain technology, with the fund holding its assets in cash, U.S. Treasury bills, and repurchase agreements. Following BlackRock’s announcement, the tokenization of real-world assets (RWA) sector received increased attention, leading to outperformance this week.
DOJ charges, CFTC enforcement action, lead to 15% outflows at Kucoin: KuCoin, one of the largest cryptocurrency exchanges, saw a 15% drop in the exchange's assets following news that the U.S. Department of Justice (DOJ) had charged KuCoin and two of its founders with violating U.S. Anti-Money Laundering (AML) laws. Also this week, the Commodity Futures Trading Commission (CFTC) also announced it filed a civil enforcement action against Kucoin.
Merger news emerges among three of the biggest AI-related tokens in the space: On Wednesday, Bloomberg M&A announced that three of the biggest AI-related tokens in the space, SingularityNet, Fetch.ai, and Ocean Protocol, are in talks to merge their tokens into one single AltSignals (ASI) token in a bid to improve their efforts at developing a decentralized AI platform. Following the merger, the fully diluted value (FDV) would be ~$7.5B.
🇪🇺Topic of the Week: What is MiCA?
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