Monat: Februar 2023

Veröffentlicht am

Japan set to launch its digital yen pilot

  • Japan has been conducting proof-of-concept (PoC) experiments on its CBDC for the last two years.
  • The Japan central bank now says that the project is now set for a pilot program.
  • Currently, China’s digital Yuan continues to lead the CBDC race globally.

After two years of testing the digital yen, the Bank of Japan (BOJ) on Friday said it would launch a pilot programme for the central bank digital currency (CBDC) in April.

A press release by the BOJ stated:

“Taking into account the results and findings of the PoCs along with our discussions to date, the Bank, as a next step, has decided to launch a pilot program this April.”

Proof-of-concept testing

The announcement comes after two phases of PoC testing. The first POC testing phase started in April 2021 and it involved the BOJ building a huge experimental environment around a CBDC ledger that would form the foundation for the project. The ledger confirmed CBDC transactions that include its issuance, transfer and payouts.

The second POC testing phase started in April 2022. At this stage, the BOJ implemented additional functions to the core functions of the CBDC that had been explored in Phase 1. It also investigated the CBDC’s feasibility and processing performance. This phase is expected to run until March and the results are already promising according to the bank.

The aim of the pilot project

According to the BOJ, the aim of the digital yen pilot programme is first to test its technical feasibility which was not possible with the POC testing phases and second to use the insights and skills of private businesses in operating and designing a CBDC ecosystem for social implementation.

If the pilot program was to be a success, Japan will join China whose digital Yuan currently leads the CBDC race globally.

The post Japan set to launch its digital yen pilot appeared first on CoinJournal.

Veröffentlicht am

Sony Network and Astar partner for web3 incubation program

  • Sony Network and Astar Network have partnered to launch a web3 incubation program.

  • The program will support projects that focus on the utility of NFTs and DAOs. 

  • The incubation program will be organised by Startale Labs. 

Astar Network and Sony Network set up a web3 incubation program

Sony Network Communications, a business division of The Sony Group, has announced a strategic partnership with Astar Network, a leading multi-chain smart contract network.

The partnership has seen the two entities launch a Web3 incubation program for projects that focus on the utility of non-fungible tokens (NFTs) and decentralised autonomous organizations (DAOs).

The companies revealed that Singapore-based Startale Labs would organise the Web3 incubation program. The program will run from mid-March to mid-June of 2023. Projects interested in joining the program can apply starting today, Friday 17th, until March 6th. 

According to the companies, accepted projects will be divided into 10 to 15 groups. They will learn various aspects of the web3 ecosystems from global venture capital firms such as Dragonfly, Fenbushi Capital and Alchemy Venture.

The incubation program will focus on real-world use cases of blockchain

According to Sony Network Communications, the incubation program is designed to look at the various ways blockchain technology can solve numerous problems in their industry. 

Furthermore, Sony Network can invest in projects in the incubation program. Astar Network has rolled out some exciting features since the start of the year.

Last month, Astar Network launched its Cross-Virtual Machine (XVM) functionality on the public testnet Shibuya. At the time, Astar Network said allowed projects to build on its network seamless interoperability between different smart contract environments such as the Ethereum Virtual Machine (EVM) and WebAssembly (WASM).

In November 202, the Astar Network also rolled out Swanky, an all-in-one tool that gives developers what they require to build WebAssembly (WASM) smart contracts easily.

Also in January, Astar Network partnered with Toyota, one of the leading car manufacturers in the world, on a web3 hackathon. 

The post Sony Network and Astar partner for web3 incubation program appeared first on CoinJournal.

Veröffentlicht am

Cardano price outlook: What next for ADA after bulls break $0.4?

  • Cardano price reached an intraday high of $0.42 on Thursday.
  • The price of ADA token is up more than 63% in 2023 at current levels.
  • On-chain metrics and other factors suggest ADA could continue higher, especially is wider sentiment remains positive.

ADA, the native token of the Cardano blockchain ecosystem, was flat around 4 pm ET on Thursday as the market appeared to cool off following a strong showing that started with Bitcoin’s greatest performance of 2023 so far.

While the Cardano price shows a sideways outlook, ADA bulls did have a great break when they pierced resistance at $0.40. Indeed, the cryptocurrency’s value rose as high as $0.42 on leading crypto exchanges. Cardano’s token is up roughly 16% over the past month, with current prices last seen in the first week of February.

What helped ADA prices get higher in recent weeks?

After a brutal 2022 for ADA, Cardano has had a great start in 2023. In fact, ADA/USD is 63% year-to-date at current levels above $0.40.

What then has helped the Cardano price to surge to today’s highs? Mostly, it’s been down to the bullish sentiment experienced across crypto so far in 2023 – even with the slight derailment seen earlier in the week amid a stablecoin crackdown.

However, talk of revisiting algorithmic stablecoins, including Cardano based DJED particularly buoyed ADA markets. 

Data also shows there has also been massive whale activity around ADA in the past two weeks.  On-chain metrics highlight average daily transactions above 1,700, while large investors (whales and sharks) continued to scoop ADA throughout the last three or so months.

As Santiment researchers noted recently, addresses with 10,000 to 10 million ADA had accumulated nearly 660 million tokens approximately worth $235 million since the price crash that followed the collapse of the FTX crypto exchange.

Additionally, sentiment is this week more upbeat after Cardano developer Input Output HK announced a key upgrade to the network had successfully gone live. According to the firm, the SECP upgrade adds scalability, and enhances cross-chain interoperability. As such, Cardano now supports more cross-chain dApps.

Are these metrics good for Cardano price? Likely. Indeed ADA bull Dan Gambardello suggests ADA/USD has formed an inverse head & shoulders pattern and predicts the next target could be $0.65. 

The post Cardano price outlook: What next for ADA after bulls break $0.4? appeared first on CoinJournal.

Veröffentlicht am

Polygon (MATIC) price jumps 13% to $1.45 – Can it go higher?

  • Polygon (MATIC) exploded 13% amid a major rally for cryptocurrencies.
  • The gains for MATIC price come amid major network developments and partnerships.
  • MATIC could surge even higher, but a retreat to support at $1.40 is also likely.

Polygon is among today’s most impressive performers, with the cryptocurrency’s native MATIC surging 13% in the past 24 hours to break to $1.45. Data from CoinGecko shows the Polygon price traded at $1.28 before the rally that came as the rest of the crypto market ripped higher – led by Bitcoin’s jump to above $25,000.

Today’s rally for MATIC adds to a bullish run over the past two days, with the token’s value climbing from lows of $1.14 on Tuesday.

Why could MATIC price go higher?

Polygon price has benefitted from the overall sentiment across the crypto market, which is reflected in the Bitcoin Fear & Greed Index moving from neutral to greed.

However, the upside momentum has also been down to major developments on the Ethereum scaling protocol.  

One of the big announcements is around Square Enix, a leading video game developer from Japan known for titles such as Final Fantasy & Kingdom Hearts. The company is set to launch its Web3 game on the Polygon blockchain. The Plague of Frogs is also coming to Polygon, adding to other partnerships with the National Geographic.

Also key is the upcoming launch of Polygon zkEVM on 27 March 2023, which as CoinJournal recently reported, will bring frictionless scaling to Ethereum. As noted by Orion Depp, Managing Partner at Master Ventures Institutional Investment Management, the zkEVM beta mainnet launch will “revolutionize blockchain transactions.”

Can these developments help MATIC price higher? Crypto trader and investor Luke Martin says MATIC price has only been on the up in 2023 and notes the zkEVM mainnet launch could be fueling the latest pump. 

If bears retake control, the first major support zone is near $1.40 and then $1.36.

The post Polygon (MATIC) price jumps 13% to $1.45 – Can it go higher? appeared first on CoinJournal.

Veröffentlicht am

Metacade Crypto Presale – What You Need To Know Before You Invest

After a rapid sell-out during the early stages of the Metacade crypto presale, the project now looks ready to explode. The MCADE token could be one of the best cryptos to invest in now, as it powers a comprehensive platform with vast potential for the future.

Could Metacade be the best crypto to invest in now? The presale is a rare opportunity to buy at low prices, and many of the best cryptos to invest in now combine broad utility with plenty of room for future growth.

Metacade has these characteristics, so here is a deep dive into the platform to see what it offers.

Metacade is one of the best crypto to invest in now

Crypto presales are often some of the most lucrative investment opportunities in the world of cryptocurrency, with top projects being launched at extremely low prices. These opportunities are rare, but when a high–potential crypto project is launched during a presale, investors are often quick to snap up as many tokens as possible.

This has undoubtedly been the case with Metacade, which is already mid-way through its presale. $6.7m has been raised in 12 weeks, which is an indication that Metacade could be in for some explosive future price action.

The project is helping to drive the GameFi revolution, making it one of the best crypto investments. GameFi combines some of the most advanced online gaming experiences with integrated financial rewards for users, so it’s no wonder that leading projects such as Metacade show vast promise and long-term price potential.

Can MCADE reach $5 in 2025?

After the MCADE crypto presale, the metaverse arcade will go live and offer a range of exclusive services to GameFi players and Web3 users. As well as this, the MCADE token will be launched on exchanges, which is expected to boost the project’s reach and drive price action upwards.

In 2023, MCADE has a $1 price target. This is a monumental 50x rise from the end of the crypto presale, but Metacade is unlikely to stop there. In 2024 and beyond, the wider crypto market may enter a bull market, at which point the MCADE token could go parabolic.

In 2025, Metacade’s target exceeds $5. MCADE could reach up to $7 that year, which amounts to a 350x price rise from the end of the crypto presale. With such high long-term potential, it’s no wonder that experts are highlighting MCADE as the best crypto to invest in now.

What is Metacade?

Metacade will become the largest arcade on the blockchain, offering a vast selection of different online games that each have integrated earning mechanics. By combining play-to-earn capabilities with addictive gameplay, Metacade could become a leading project in the GameFi sector over time.

Metacade will also be a central hub for Web3 users, offering vast earning potential that goes beyond the metaverse arcade. It will display all the latest trends in blockchain gaming and some of the most valuable alpha on the blockchain. It will help to drive progress in GameFi directly with several unique initiatives.

How does MCADE work?

The MCADE token will be used to provide rewards in the Metacade. Gameplay ranges from casual to competitive, offering solo gaming experiences where players can progress through infinite levels to earn tokens and ranked competitive tournaments that offer major crypto prizes to the winners.

Metacade’s community hub will reward users for their contributions. This can include posting game reviews, sharing alpha, or interacting with other members of the community. All content creators in the Metacade can earn MCADE token rewards through the Create2Earn feature.

The project also aims to help crypto enthusiasts kickstart their blockchain careers. The Work2Earn feature will connect Web3 users with paid job opportunities, ranging from gig work to game testing roles to full-time positions at leading blockchain companies.

MCADE is a game-changer

On top of all its other features, Metacade is introducing a crowdfunding initiative for brand-new blockchain-based games. Developers will submit investment proposals to the Metacade community, who will vote to decide which new games are best. The voting process winners will receive early-stage funding to help develop the new game.

Metacade is considered one of the best cryptos to invest in now because it directly drives blockchain technology’s expansion. The project is creating jobs for Web3 users and will also support innovators with the financial backing they need to develop new decentralized applications (dApps) and blockchain experiences.

Is MCADE worth buying?

The MCADE crypto presale has been highlighted to be one of the best cryptos to buy now and a great long-term hold for the future. With positive future price action on the horizon for the MCADE token, the crypto presale represents a rare opportunity to get involved in a leading project during its earliest investment stage.

The crypto presale launched the MCADE token at $0.008 – a value that will rise to $0.02 before the end of the event. This gives investors a limited time only to get involved in the crypto presale at the best possible price. 

You can participate in the Metacade presale here.

The post Metacade Crypto Presale – What You Need To Know Before You Invest appeared first on CoinJournal.