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Right before the weekend, crypto prices took a hit that saw Bitcoin dropping below $26,000. As of writing, BTC is trading at 27,400 while Bitcoin developers debate over whether to censor Ordinals BRC-20 tokens. Recently, the popularity of Bitcoin meme tokens resulted in congesting the network and sent average transaction fees to levels not seen since the May 2021 bull market.

Meanwhile, ETH went down to around $1,730 as the blockchain suffered from a technical issue that caused the Ethereum network to stop finalizing blocks for over an hour. There have been two such outages in a period of 24 hours. Over the weekend, Ethereum's price made a recovery to $1,830, and the blockchain resumed finalizing blocks.

Amidst this, the world's largest cryptocurrency exchange by volume, Binance, announced its exit from Canada, citing regulatory tensions. Additionally, House Democrats are considering a new stablecoin bill proposal just weeks after Republicans introduced their own discussion draft of a new bill.

Besides the majors, a few altcoins that have been rallying like crazy for the past many days took a hit as well. As a result of all this red, the total cryptocurrency market cap declined to $1.16 trillion before recovering over the weekend and now stands at $1.19 trillion.

Now, let's take a look at the best gainers and losers over the past weekend.

In tandem with Bitcoin, Ether and the majority of other altcoins took a hit between Wednesday and Friday only to recover over the weekend and are now green in this new week. Among the top 200 cryptocurrencies by market cap, layer one blockchain Sui (SUI) and Alpha Zero (AZERO) jumped 18% and 15%, respectively.

Ethereum liquid staking solutions Rocket Pool (RPL) and Lido DAO (LDO) also recorded double-digit gains of 17% and 10% this past weekend. Kava (10%) and Arbitrum (8%) were other big winners. However, one coin did better than all these coins.

CFX is a $600 million market cap of about which, at the time of writing, has been trading at $0.289 with 22% gains over the weekend. In the past 24 hours, the coin has been up 14.3% while managing $140.27 mln in trading volume.

CFX is actually one of the best-performing coins this year and is up 1180% year-to-date (YTD) amid demand from China and AI hype. The token is up 267% in the past year and 1,227% from its all-time low of $0.0219 on December 30, 2022, but it is still down about 83% from the $1.70 peak hit just over two years ago.

CFX is the native cryptocurrency of Conflux Network, which is a public, permissionless blockchain that supports decentralized applications (dApps) and boasts high transaction throughput, with a capacity of up to 6,000 TPS.

Conflux Network uses a consensus protocol called Tree-Graph to ensure decentralization and high and improved security. It is also compatible with Ethereum Virtual Machine (EVM) and supports cross-chain interactions.

The CFX token is used to pay transaction fees on the network as well as to facilitate cross-chain transfers. Users can also stake their tokens to participate in the network's consensus process.

Conflux Network is strategically positioned to align with China's strict trade laws and seeks to lead the way to connect Asian and Western Communities. Recently, it introduced a new developer portal featuring updated documentation and improved organization to provide enhanced resources and support for those interested in building on the network. This way, the platform aims to foster a robust developer community and drive innovation within its ecosystem.

Besides being China's sole regulatory-compliant public blockchain, the network has partnered with China Telecom for blockchain products; integrated with Little Red Book, China's version of Instagram; and deployed Uniswap V3 creating liquidity pools for CFX/BTC and CFX/USDT pairs.

On top of this, the network shared in its April progress report that it has optimized the snapshot mechanism to reduce disk usage released the latest node version, and implemented CIP107 to prepare for the next hard fork. Also, with Thirdweb now supporting Conflux eSpace, developers can use it to build dApps quickly.

Over this period, Conflux also partnered with XCMG and Zen Spark Technology, Pyth Network, dForce, Particle Network, OKX Wallet, OneKey, Beosin Blockchain Security, Kepler42BDAO, Purple Planet, Blossom House, Shanghai Songjiang District government, and others.

With these moves, Conflux aims to cater to millions of new users, particularly in Chinese and Asian markets, to provide access to DeFi. Currently, Conflux has $29.36 million of total value locked (TVL) in it, up from just above $5 million earlier this year, as per DeFi Llama.

Last week, Binance announced a successful integration of the Conflux Network mainnet. Following this, users can now deposit and withdraw CFX tokens, which is achieved through Conflux Core Space, Conflux eSpace, and BNB Smart Chain (BSC).

With its features like high throughput, scalability, low fees, built-in staking reward, and promise of security combined with partnerships, the network aims to grow its ecosystem which can help its token rise further.

Click here to learn all about investing in Conflux (CFX).

While the majority of the coins managed to recover their losses, many coins either went flat or dropped even further. Bitcoin layer 2 solution Stacks recorded big losses this past week and is down 15.5%. DAO Maker (DAO) declined by 6.6% over the weekend before falling even further on Monday.

Huobi (HT), Polymath (POLY), and Stellar (XLM) are also down 2% to 4%. But Klaytn is the one with the most losses among the top 200 cryptos.

KLAY has been on a downtrend ever since this past month, during which it fell 35%. Over the weekend, KLAY went down 17% and is still recording losses of 5.8% on Monday. Currently, the token is exchanging hands at $0.174 while managing $43.6 million in 24-hour trading volume.

Back in late April 2020, KLAY hit its all-time low at $0.0604 and is only up 189% since then. The token's gains this year so far are also just 16.4%, while it is down by a whopping 96% from its all-time high (ATH) of $4.34, which was hit on March 30, 2021.

KLAY is the native token of the public blockchain platform Klaytn which is developed by Ground X, a subsidiary of the South Korean internet company Kakao.

The token is used as a means of trade on the network as well as for staking and security for additional tokens. It is also given by platform users as a payment to the consensus nodes (CNs) for performing the required actions.

Recently, the platform was integrated into the noncustodial wallet SafePal. This was part of SafePal's South Korea expansion that involved support for Klaytin's native assets and existing dApps and making SafePal's software, hardware, and browser extension wallets fully interoperable with the Klaytn ecosystem.

Earlier this year, the Klaytn Foundation revealed its ambitious roadmap to achieve mass adoption trifecta based on sustainability, verifiability, and community. This is because Klaytn believes solving the blockchain trilemma alone will not ensure a fair and transparent society in an on-chain world.

Currently, users face a high barrier to entry, and there's a lack of user experience (UX) that hinders crypto's mass adoption. As such, the project's focus is on prioritizing ecosystem sustainability, ensuring verifiability through transparent governance and operations, and fostering a strong and vibrant community.

For sustainability, Klaytn is working on a deflationary model for tokenomics, optimal supply/demand balancing, treasury optimization, community fund and Klaytn Foundation fund, major exchange listings, attracting new active users, permissionless participation, and optimizing node specs.

To make Klaytn verifiable, the platform is focused on forming GC Sectional Committees, launching on-chain voting, open GC membership applications, community Sentiment Checks,' accountable contributors, quarterly ecosystem reports, 3rd party verification, and monthly community Town Halls.

As for the community, Klaytn is working on seamless builder onboarding by developing Oracle, Trustless Bridge, Open SDK, Developer SDK, and Metaverse Package. Other initiatives will include regular developer meetups, launching KlayMakers23, builder support programs, user playground, stakeholder motivation, and service discovery.

The project's mission is to make a better world through blockchain technology by becoming the public foundational layer for tomorrow's on-chain world.

However, the project is struggling to attract attention and capital, as seen with the project's TVL (total value locked), which is currently at about $152 million and has been in a constant decline ever since April last year when TVL was above $1 billion, as per DeFi Llama.

The TVL hit its peak at $1.34 bln in Sept. 2021, and while months later, the TVL declined to about $880 mln, it soon recovered and soon went just above $1.3 bln in Jan. 2022.

Currently, the AMM-based instant swap protocol KlaySwap accounts for 65.55% of all its TVL. Additionally, leveraged yield farming protocol Kleva and liquid staking solution KLAYstation are two other prominent projects built on Klaytn with TVL of $24.77 mln and $23.97 mln, respectively.

Click here to learn all about investing in Klaytn (KLAY).

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Weekend Movers - Conflux (CFX) and Klaytn (KLAY) - Securities.io

PRESS RELEASE

Published May 16, 2023

The global Social Networking App market was valued at USD 40.2Billion in 2022 and it is anticipated to grow up to USD 430.2 Billion by 2032, at a CAGR of 26.7% during the forecast period.

A social networking app is an app that allows people to connect with each other for the purpose of sharing information, and experiences, or simply chatting. There are many different social networking apps available, each with its own unique features and purpose. Some popular social networking apps include Facebook, Twitter, Instagram, and Snapchat.

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Market Trends and Drivers

Growing investment from Meta to provide in-stream ad-free features for global clients is propelling market growth. Rapidly growing demand for free gaming subscription-based social networking apps in the U.S. is bolstering the industry growth over the years. 3D image context with augmented reality-based features of social media is refueling the business needs. The growing demand for big-screen interfaces with dark mode in the U.K. is set to drive the use of these applications. National lockdowns enforced across the globe owing to the effect of coronavirus led to widely affecting the global supply chain of numerous businesses worldwide. Smoother in-app purchasing of social services and the rapid shift of consumers to software as a service-based app had taken a dramatic boost for social networking apps. Discovering online communities for theatre, sports art, music, games, and yoga, had gained traction during the pandemic era. The growing demand for live streaming videos and the surge in the adoption of OTT platforms in India had further propelled the market growth.

Market Restraints and Challenges

There are a few key restraints and challenges in the social networking app market. Firstly, users are becoming more aware of the potential risks associated with sharing personal information online. This is leading to a decline in usage of social networking apps, as users are increasingly concerned about their privacy. Secondly, social networking apps are also facing competition from other types of apps, such as messaging apps and gaming apps. This is making it difficult for social networking apps to maintain their user base. Finally, social networking apps are also facing regulatory scrutiny in many jurisdictions. This is making it difficult for them to operate freely in many markets.

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Global Social Networking App Market Segmentation

By Device Type

Smartphone Laptop Others

Major Players in the Global Social Networking App Market

The key players in the Social Networking App market are Reddit, Snapchat, Twitter, Meet Up, Facebook, Tumblr, Viber, Instagram, Line, and Yubo., among others.

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Develop comprehensive understanding of market landscape industry structure, value-chain, key players, trends, drivers, and challenges Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses Develop business and M&A strategies through understanding of latest trends and emerging players in the market Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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Social Networking App Industry Is Expand at a CAGR of 26.7% to ... - Digital Journal

We are in the social networking age and social media platforms are all around us. They are playing an important role in human life from both personal and professional perspectives. Some businesses or influencers are nailing it with social media marketing without paying a penny, but for some social media marketing is digging a hole in their pockets.

If you are tired of shelling out your hard-earned cash for paid social media strategies, then It may seem like a challenge, but in this era of social media freedom, its not a challenge. Some proven organic social media strategies are better than the paid ones and wont cost you a dime.

India, in particular, has seen some great examples of brands that have successfully leveraged organic marketing to increase their reach and impact on social media. For instance, the Mumbai-based food brand, Swiggy, became a household name by using social media to engage with its customers and create viral content that resonated with its audience.

Almost five years ago, Gary Vaynerchuk, a serial entrepreneur said that brands will eventually wake up and realize that they shouldve invested more in social media. In an interview with Inc. magazine in 2018, Vaynerchuk was discussing the importance of social media for brands.

Now, If you look around, all of the brands are digging deeper to win on the social media battleground. However, not every brand is doing awesome.

Personify The Brand

If your brand is still looking like a company online that is trying to sell its products via different channels, then you need to work on social media strategies. Personify your brand, and develop a character for it as it has feelings, emotions, and stories like a real human being. The more it is human, the more people will find it relevant.

Taking the example of Red Bull here. Red Bull has a Daredevil personality that showcases the outrageous personality and makes its customers feel more adventurous and energetic.

Engage Yourself

The biggest lie of digital marketing is that you need to engage your customers. However, things have changed now. These days there is information overload on the internet. Customers or prospects will not engage with the content if you are not engaging yourself. By your engagement, we mean that you need to speak the customers language. Let the customers feel that a brand is talking about its style. So the more you engage yourself in social media posts, the more customers will respond, resulting in higher reach and retention.

Make Mistakes

There is only one way to achieve rapid organic social media growth other than to make mistakes. A lot of brands have leveraged this organic social media marketing strategy. In this case, as a brand, you have to make a mistake online in your content, and you will get a huge response.

The most important thing in this strategy is to make sure that brand posting mistakes dont harm anyone through any means. Trying this social media marketing hack is risky because it can also get you some negative responses from netizens. Always be conscious of the deliberate mistake you will make to win peoples hearts.

Use Humor

Does your brands social media handle sound boring? Keep in mind people dont like boredom. Humor is a tool you should always have in your hand when posting anything on the internet.

Create and share posts about topics that have yet to be discussed online. Try to share hidden stories of the brand, employees, and even the failures the brand management team faces.

Deal With Crisis Communication

Many brands have run away when their followers throw stigma on them through their bad comments or posts. This situation is very crucial to deal with in social media marketing. Most brands dont have a crisis communication strategy and delete the negative comments or remove the associated persons/accounts from their follower list. However, some brands have crisis communication strategies and enough wisdom to deal with them positively.

Brands like KFC have the potential to turn such situations of crisis communications into an opportunity for organic social media growth.

Bottom Line

We all know that posting regularly on social media, relevant content, posting during peak hours, and resharing bring organic social media growth. Following all these social media practices is good, but to be ahead of the competition, you need something beyond the ordinary. The tips mentioned above are less-discussed but very effective. Most of the top brands are using these strategies and gaining followers and sales through their social media handles.

Views expressed above are the author's own.

END OF ARTICLE

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Social media growth without spending is no more a challenge - Times of India

Workers' rights

Exclusive: group that helped elect lawmakers like Alexandria Ocasio-Cortez embraces policy popular with leftwing leaders

The progressive organization Justice Democrats has adopted a four-day working week, a policy that has received praise from leading leftwing leaders like Senator Bernie Sanders of Vermont.

Justice Democrats, which has helped elect progressive lawmakers like Congresswomen Alexandria Ocasio-Cortez of New York and Ilhan Omar of Minnesota, shifted to a four-day working week for its 20 employees starting last August on a six-month trial basis. In March, the group decided to extend the policy indefinitely after its employees reported the change allowed them to better manage the grueling nature of campaign work.

A big reason why we ultimately decided to do a four-day week indefinitely is because of how much we trust everyone in the organization to prioritize what they need to prioritize, said Alexandra Rojas, executive director of Justice Democrats. That extra space has, at least for us, improved productivity and peoples attitudes as they show up to work.

The shift comes as progressive leaders have embraced the idea of a shorter week, arguing that the 40-hour week established by the Fair Labor Standards Act in 1938 no longer reflects the reality of Americans working lives. In March, congressman Mark Takano of California reintroduced his bill to set the standard working week at 32 hours, and Sanders has now joined the cause.

Its time to reduce the work week to 32 hours with no loss in pay, Sanders wrote in a Guardian op-ed earlier this month. Its time to reduce the stress level in our country and allow Americans to enjoy a better quality of life. Its time to make sure that working people benefit from rapidly increasing technology, not just large corporations that are already doing phenomenally well.

Although few American companies have adopted a four-day working week, the idea is not novel. France has mandated a 35-hour work week since 2000, and some French politicians have called for lowering that threshold to 32 hours. Iceland has also seen success in its trials of a four-day, 35-hour working week. In comparison, Americans work an average of 43.1 hours per week, according to a 2022 Gallup survey.

Critics fear that the shift to a 32-hour week could increase employers labor costs and further decrease employee productivity at a time when American workers output has slumped. Data compiled by the Bureau of Labor Statistics shows US productivity declined for three straight quarters last year, although labor output has still increased by nearly 500% overall since 1947.

But Justice Democrats employees said the switch to a 32-hour, Monday to Thursday schedule had made them more efficient and focused with their tasks.

Im highly productive during my work hours, and honestly I procrastinate less, said Becca Rast, a managing director at Justice Democrats. It allows me to have a tighter, more focused work schedule, which I really thrive under.

Trial studies of companies with 32-hour working weeks have shown similar results. One pilot program launched in the United Kingdom last year found that employees who worked fewer hours per week reported higher levels of job satisfaction while 23 participating companies witnessed an average revenue increase of 1.4%. When the program concluded, 56 out of 61 organizations said they would keep the policy in place at least temporarily.

The reduced stress levels among those with shorter working weeks can also help reduce employee burnout and turnover, ultimately making companies more productive in the long run. The UK pilot program found that 39% of employees with reduced working hours reported feeling less stressed, and 71% said they had reduced levels of burnout by the end of the trial.

Its really good for our health our mental health and our physical health, Rast said. When Im overworked and overrun with thinking about work, I am not able to actually show up for my team and make the kinds of change that were talking about. And so its been really healthy for me to be able to get there, and I see that for our whole team as well.

For Becca Rose, a senior strategist at Justice Democrats, the four-day week has given her the time and flexibility to address some chronic health conditions without feeling stretched thin by her other responsibilities at work and at home.

I need these extra eight hours in a week to be able to feel like I can both do my job and also manage some personal things that came up, Rose said. Those trials come up in life, whether its chronic health [issues] or something completely different. Those things come up for everyone. So what seems like a luxury quickly becomes something that feels very essential.

The switch has felt particularly necessary because of the grueling nature of campaign work, Justice Democrats staffers said. Particularly in the immediate run-up to an election, campaigns and their partner organizations are often expected to put in long hours with few days off to get their candidates across the finish line.

Especially for progressive challengers, because we have to launch so far out to be able to put up a competitive campaign [and] to build the infrastructure, a whole year of just go, go, go is not sustainable, said Supreet Kaur, candidate coordination manager for Justice Democrats.

Justice Democrats first started its four-day week policy last year at the close of the primary season, which is generally the organizations busiest time in the election cycle as they go toe to toe with more centrist Democratic candidates. Rojas acknowledged that it may be challenging to adjust the four-day working week to the demands of the primary season, but she still expressed a commitment to the policy, encouraging other progressive organizations to consider making the change as well.

Its better work. Its healthier workers, Rojas said. And when we think about our movement, everybody shows up better.

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Progressive organization Justice Democrats adopts four-day work week - The Guardian

Social media platforms are set to be fined if they do not deal with misogynistic abuse and bosses could face jail - as the government draws up new measures.

A cross-party group of lords led by former culture secretary, Baroness Morgan, is proposing a new amendment to the Online Safety Bill which would legally require social media firms to prevent the online abuse and violence against women and girls.

The amendment to the bill, which is due to be debated on Tuesday, is backed by Tory and crossbench peers, Labour and the Liberal Democrats.

It also means that companies who failed to remove misogynistic content would face fines worth up to 10 per cent their global turnover.

Bosses could even be jailed up to two years if the legal changes take place, which would treat online violence and abuse against women and girls in the same way as illegal child sexual abuse and terrorist content.

Last year, ministers rejected classing misogyny as a hate crime and instead the government compromised by creating a new offence of public sexual harassment.

In April it was feared thatWhatsApp could soon be banned if it refuses to comply with the new Online Safety Bill.

Under the Bill, tech companies will have a duty to find and remove illegal content being distributed through their social networking platforms.

But this could mean doing away with 'end-to-end encryption' - a security feature which scrambles messages to ensure that only the sender and recipient can read them.

Messaging services that use it, including WhatsApp, Signal, Viber and Element, have signed an open letter opposing the Online Safety Bill ahead of its final reading in the House of Lords.

'The UK government is currently considering new legislation that opens the door to trying to force technology companies to break end-to-end encryption on private messaging services,' it reads.

'The law could give an unelected official the power to weaken the privacy of billions of people around the world.

'We don't think any company, government or person should have the power to read your personal messages and we'll continue to defend encryption technology.'

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Government poised to fine social media platforms if they do not deal with misogynistic abuse - Daily Mail