Monat: Februar 2023

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Pioneering horse-racing metaverse game Derby Stars Early Access version goes live

  • Derby Stars metaverse is built on the Polygon blockchain.
  • The game has opened a new era of horse racing game.
  • The Early Access version of the game allows Derby Stars to gather feedback from participants.

The New Polygon-based horse-racing metaverse game Derby Stars has opened its “Early Access” version. The version will be open starting February 27 to March 20.

Commenting about the Early Access version, the Executive Producer of Derby Stars Sean Hahm said:

“Through the “Early Access”, the team hopes to get as much feedback as possible because Derby Stars is a game built together with the users. We have worked tirelessly to create a game that truly captures the excitement and thrill of horse racing, and we are confident that the Early Access version is a great representation of what’s to come.”

The Derby Stars metaverse game

Derby Stars aims to add to the world of digital horse racing games. It offers an immersive within a beautiful grassland and various racetracks, where they can train and race their own horses, breeds new horses and competes in thrilling Player versus Environment (PvE) and Player versus Player (PvP) competitions.

Players start off by getting a job as a jockey at a stable under the management of a trusty ranch manager called Risa. Risa and other NPC characters guide the player to become the Derby champion. The player is responsible for training their horses and strategising according to the types of racetrack, weather, and horse’s tendency to win the races.

The game brings together the excitement of real-life horse racing, cutting-edge technology and blockchain technology to offer an unparalleled gaming experience.

According to Sean Hahm:

“The gaming industry’s NFT market is projected to hit $291.7 billion by 2028 and we believe that Derby Stars will take part in changing the gaming landscape. Derby Stars is at the forefront of revolutionizing both the digital horse racing industry and the ways blockchain games are developed.”

The “Early Access” version

During the “Early Access” period Derby Star players will enjoy the in-game content and the wide selection of events and missions. The players will be able to level –up their horses and earn in-game tokens and compete with fellow Derby Stars to become a champion.

Players can access the “Early Access” version on PC and Mac, and anyone with Derby Stars Horse NFT can play. The version supports English, Japanese, and Chinese (both traditional and simplified.

Derby Stars aims to launch the Alpha version of the game later this year after the “Early Access” version period expires. The Alpha version will come with more features including avatar customization, a rental marketplace, and stable management simulation among others.

The post Pioneering horse-racing metaverse game Derby Stars Early Access version goes live appeared first on CoinJournal.

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Bets against BTC saw $10M flow into short-bitcoin funds: CoinShares

  • CoinShares data shows crypto investment products recorded minor outflows of $2 million.
  • But Bitcoin saw a third straight week of outflows totaling $12 million.
  • Short-bitcoin funds saw inflows of $10 million amid negative sentiment driven by US economic data.

Digital asset investment products recorded yet another week outflows this past week as macro data continued to weigh on investor sentiment, according to asset manager CoinShares.

While weekly outflows across crypto-related products was a minor $2 million, the broader market sentiment was negative as indicated by the large inflows into short investment products.

Short-Bitcoin inflows hit $10 million

Investment products tied to the world’s largest cryptocurrency Bitcoin recorded a total of $12 million in outflows last week, a third consecutive week of such action. Investors also bet huge on the price of Bitcoin going down that week, with inflows into short bitcoin funds rising to $10 million.

According to CoinShares, the negative sentiment around BTC price last week largely came from the United States.

“Opinions remain polarised though, with the US seeing outflows totalling US$14m, where recent macro data has increased fears amongst investors that the US Federal Reserve (FED) will be more hawkish than expected,” CoinShares head of research James Butterfill wrote.

As we highlighted, the past week was punctuated by the hot economic data (the Producer Consumer Expenditure (CPE) index that suggested inflation was still a key headwind. 

Indeed, the market reacted negatively to the macro data, with Bitcoin price dropping to lows of $22,770 on the Bitstamp crypto exchange. However, BTC is back above $23,400.

The post Bets against BTC saw $10M flow into short-bitcoin funds: CoinShares appeared first on CoinJournal.

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Stacks price relentless bull run gains steam: is it still a buy?

  • Stacks is a leading blockchain project that seeks to grow Bitcoin’s utility.

  • STX price has surged hard after the successful launch of Ordinals.

  • It has become extremely overbought signaling a pullback is imminent.

Stacks, a small but fast-growing blockchain project, has become one of the best-performing cryptocurrencies in March. STX, its token, has soared to a high of $0.9800, the highest point since May 2022. It has jumped in the past three straight weeks and by 372% from its lowest point this year.

The main reason for the recent Stacks price surge is the ongoing bets of Ordinals, a Bitcoin NFT platform. Its launch, which has been highly successful, has led many analysts to predict that Bitcoin use case will become more pronounced in the coming years.

For many years, Bitcoin has always had little utility, unlike other blockchains like Ethereum and Internet Computer. This happened simply because Bitcoin does not have smart contract features. As such, it is not possible to build on top of Bitcoin. 

Stacks is one of the biggest blockchains that seeks to provide more utility for Bitcoin. Its technology makes it possible for developers to build dApps in all industries, including DeFi and Non-Fungible Tokens (NFTs). 

Stacks uses the proof-of-transfer mechanism that connects it and Bitcoin. It also has other features that make Bitcoin more programmable and productive. So, how high can STX price jump?

Stacks price prediction

STX chart by TradingView

The daily chart shows that the STX price has been in a strong bullish trend in the past few months. It managed to cross the important resistance point at $0.5237, the highest point on August 8. 

It has jumped to the highest point since May last year and moved above the 50-day and 100-day moving averages while the Relative Strength Index (RSI) has moved to the extreme overbought level. The Stochastic Oscillator has also become extremely overbought. Stacks has also moved to the important resistance point at $1.

Therefore, it seems like STX has more bullish upside in the near term. However, with its price being extremely overbought, there is a possibility that a pullback will happen soon. If this happens, the coin will retreat to the next key support to watch will be at $0.5237, which is about 46% below the current level.

Such a retreat will be part of a break and retest pattern. In price action analysis, such a pattern is usually more bullish in the near term. 

The post Stacks price relentless bull run gains steam: is it still a buy? appeared first on CoinJournal.