Kenya joins hands with Venom as Arbitrum and Chainlink diverge, Ape Brigade preps for debut

New Delhi [India], May 15 (ANI/ATK): In recent news, Kenya has joined hands with the Abu Dhabi-based Venom Foundation to develop a web3 hub. Meanwhile, the cryptocurrency market shows divergent trends as Arbitrum continues to show bullish strength while Chainlink may see further losses. Additionally,
, a new project in the cryptocurrency space, is preparing for its debut. Let's take a closer look at each of these developments.
Kenya Joins Hands With Abu Dhabi's Venom Foundation
Kenya has partnered with Abu Dhabi-based blockchain platform Venom Foundation to establish a blockchain and Web3 hub in Africa, aiming to drive blockchain innovation in key sectors such as finance, supply chain, agriculture, business, and cross-border trade. The hub will serve as a central platform for African technology companies and government entities to foster knowledge exchange and collaboration.

Venom will provide tools and resources to support Kenya and other African countries in their digital transformation, including blockchain-based solutions for supply chain management, land registry, voting systems, and asset tokenization. Kenya is becoming a hotbed for innovation, including the implementation of blockchain technology, with a 429% increase in blockchain deals in 2022, according to data from CV Venture Capital.
Arbitrum (ARB) Soars on Bulls' Backs
Arbitrum's price has been on the rise since Wednesday, signaling a possible uptrend in the market. After facing losses and negative sentiment, the coin has seen consistent growth since yesterday, with the ARB/USD price reaching $1.12, up 1.59%, in the last 24 hours. The one-day analysis shows a bullish trend, with the moving average value at $1.23, lower than the current price. The four-hour analysis also predicts an upswing, although there have been brief periods of correction triggered by bearish activity. At the time of writing, ARB was trading at $1.12.
A Bearish Time For Chainlink
Chainlink (LINK) price has been trading in the same range for a year, and after a rally in April, it has turned bearish. The price has broken its support and may experience further downside in the near future. The price has remained red this week, resulting in an overall weekly loss of 6.54% and the fourth consecutive week of a downtrend.
LINK is currently 26% down from its yearly high, and there is a potential 13% downside for the cryptocurrency. The bearish trend is further validated by the price breaking below the 200 moving average on the daily timeframe, and a retest of the $5.55 range lows is likely. A daily close above $7.60 is required to break the bearish market structure.
Ape Brigade: Ready To Rumble In The Crypto Jungle
Ape Brigade (APES) is making headlines as the latest DeFi meme coin to hit the presale stage. APES wants to create some rumble in the market, and with its unique offerings, it just might!
This ERC-20 token is not just any other meme coin, as it offers several exciting features. For instance, 20% of the token's total supply is locked to enhance its stability and liquidity. Additionally, APES is an advanced token with an NFT space under development.
What's more, Ape Brigade has an incentivized staking system that rewards holders based on the number of tokens staked and the duration of the stake. A total of 15% of the token's supply is reserved for staking rewards.
However, the core of this cryptocurrency lies in its mission to bring together a passionate community of people who care about wild animals, particularly apes. To this end, Ape Brigade reserves 10% of its supply for charitable organizations that rescue apes and wildlife. With its unique features and charitable cause, Ape Brigade is a meme coin with a heart.
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