Monat: April 2023

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Will Shiba Inu Break Out of Dogecoin’s Shadow? Comparing Shiba Inu’s and Metacade’s Price Predictions for 2023-2030

Web3 is a constantly-evolving sector of technology, and blockchains continue to grow in stature. Early-stage crypto investors are constantly on the lookout for the next 100x investment opportunity, as successful projects can post significant gains from their earliest stages of development.

The Shiba Inu price prediction in 2021 led to massive returns for investors as SHIB almost flipped Dogecoin (DOGE) to become the most valuable meme coin in Web3. Investors are now eyeing Metacade (MCADE) as a similar opportunity, but there are some critical differences between the projects that could serve MCADE well over the coming years.

Metacade continues to progress, while the Shiba Inu price prediction targets Dogecoin

Shiba Inu’s price prediction has declined rapidly since it reached its all-time high in 2021. However, it brings a unique set of characteristics compared with Dogecoin, as the Shiba Inu blockchain is compatible with Ethereum Virtual Machine and can support the development of decentralized applications (dApps).

While the Shiba Inu price prediction may struggle to break key resistance areas during 2023, it remains the second-largest meme coin behind Dogecoin. The Shiba Inu price prediction will likely benefit from a layer-2 scalability solution called Shibarium, which means that it could overtake Dogecoin to become number one over time.

Metacade’s token presale raised $16.4m as investors sought to gain a stake in the future of the metaverse arcade. The project is the first community-driven initiative of its kind and will bring vast play-to-earn utility onto the Ethereum blockchain.

Both the Dogecoin and Shiba Inu price predictions have declined since the 2021 bull market, while Metacade represents a fresh opportunity for investors. The native MCADE token has innate utility on the platform, which gives it a natural advantage over popular meme coins.

What is Shiba Inu?

Shiba Inu (SHIB) is a meme coin cryptocurrency that gained a lot of attention when it took the crypto charts by storm during the last bull run.  It is a decentralized community-led token and independent blockchain that was forked from Ethereum. It’s often referred to as the “Dogecoin Killer” due to its big selling point of supporting the Ethereum Virtual Machine (EVM).

Created in August 2020, SHIB grew rapidly as an EVM-compatible alternative to Dogecoin. The token rose to prominence after half of the total supply was airdropped to Vitalik Buterin, who famously burned at least 90% of his tokens – an amount later worth over $6bn. Shiba Inu can support the development of decentralized applications, including DeFi services, play-to-earn games, and much more.

Shiba Inu price prediction 2023: Can SHIB reach $0.00001343?

The Shiba Inu price prediction has weakened considerably since it peaked in 2021. SHIB is currently at a multi-month resistance level and may struggle to break through $0.000012, but could target higher levels before the end of the year if it successfully turns this level into support.

Beyond 2023, SHIB will likely target higher resistance levels as it seeks to reclaim its previous all-time high during the next crypto bull market. Two key resistance areas for the long-term Shiba Inu price prediction are $0.00002 and $0.00003, which SHIB could reach by 2025.

What is Metacade?

Metacade is a newly-launched project that aims to build the largest games arcade on the blockchain. It will contain a vast selection of different play-to-earn games on a single platform, each offering integrated financial rewards to players.

The project’s ethos is to create a central hub for the Web3 community on the Ethereum blockchain. Metacade has several ground-breaking earning mechanics that go beyond gaming, giving arcade users the chance to earn MCADE token rewards in new and exciting ways.

How does MCADE work?

The MCADE token is used for rewards in the Metaverse arcade. The platform will also be home to a range of DeFi services for the MCADE token, including staking to earn a passive income (SOLD OUT) and voting in governance proposals released by the project.

The Metaverse arcade offers casual and competitive gameplay to players, who can earn cryptocurrency rewards while playing solo or by joining paid entry tournaments. These tournaments allow players to go head-to-head to win major crypto prizes.

Metacade’s community hub will also reward content creators for their contributions to the platform through a novel Create2Earn mechanic. This can include posting game reviews, sharing alpha, or interacting with other users’ posts.

Additionally, the platform will advertise open positions at some of Web3’s hottest start-ups through the Work2Earn feature. Metacade’s partner projects will provide job opportunities to the best members, including full-time and part-time positions. Work2Earn will also include short-term gigs, including testing the beta version of new blockchain games in return  for MCADE token rewards.

Can MCADE reach $1 in 2023?

The MCADE token has recently completed its presale and launched on leading digital asset exchanges, including UniSwap and BitMart. It has extensive utility on the Metacade platform and deflationary tokenomics, which could push its price up substantially over the coming years.

The 2023 price prediction for Metacade places the token at the $0.30 price level. This could be a whopping 50% gain from the end of the presale. Heading into the next bull market, experts are forecasting continued gains for MCADE, which could climb to $2 by 2025.

Metacade vs. Shiba Inu price prediction: Which token is worth buying?

Both projects look set to make gains over the coming years. However, Metacade is a brand-new project which will enter price discovery during the next crypto bull market. This makes it an ideal choice for early-stage investors. Meanwhile, the Shiba Inu price prediction continues to underwhelm, and it may struggle to overcome Dogecoin before 2025.

More information about Metacade is available on the project’s website, and the native token can now be traded on the digital asset exchanges, Uniswap and Bitmart, with a listing on MEXC soon.

You can find more information, including on how to buy MCADE, here.

The post Will Shiba Inu Break Out of Dogecoin’s Shadow? Comparing Shiba Inu’s and Metacade’s Price Predictions for 2023-2030 appeared first on CoinJournal.

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“Crypto is dead in America,” tech investor Chamath Palihapitiya says

  • Chamath Palihapitiya, a top tech investor and crypto bull, says regulators have killed crypto in the United States.
  • He notes that regulators have their guns trained at crypto, highlighting regulatory uncertainty and the crackdown on crypto companies. 
  • Palihapitiya said in 2021 that Bitcoin had replaced gold, predicting that BTC would rise to $200,000.

Tech billionaire Chamath Palihapitiya, a long time bitcoin bull who once predicted the price of the flagship cryptocurrency will rise to $200,000, saying BTC had replaced gold, has commented on the state of the crypto industry in the United States.

He says the regulatory uncertainty has killed the crypto innovation in the country.

Crypto dead in the US thanks to regulators

In comments shared via an episode on the All-In podcast, Palihapitiya warned that “crypto is dead in America.” 

The venture investor’s remarks came a few days after the crypto industry largely criticized the overall outlook of the crypto regulation in the US following SEC Chair Gary Gensler’s appearance during a congressional hearing.

According to Palihapitiya, regulators are largely to blame for crypto’s demise in the country, highlighting Gensler’s comments that appeared to connect crypto to Silicon Valley Bank’s collapse. Blaming the recent banking crisis on the crypto sector was the US authorities having their guns firmly pointed at crypto, the investor said.

US regulators have over the past few months tightened their crackdown on crypto, with crypto exchanges Coinbase, Kraken, Bittrex among those targeted.

While Coinbase CEO Brian Armstrong recently said the company could relocate if the regulatory environement did not improve, Bittrex plans to wind down its US operations following the SEC charges citing regulatory uncertainty. 

Coinbase also sued the SEC on Monday with the complaint against the agency relating to a rule making petition the exchange filed in July 2022.

The post “Crypto is dead in America,” tech investor Chamath Palihapitiya says appeared first on CoinJournal.

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Coinbase sues SEC, Ark Invest buys $8.6m in Coinbase stock

Key takeaways

  • Crypto exchange Coinbase has filed a lawsuit against the Securities and Exchange Commission (SEC).

  • Coinbase wants the agency to provide a yes or no to Coinbase’s request for the commission to draft and approve a digital asset-specific rule.

  • Cathie Wood’s Ark Invest has purchased $8.6 million worth of Coinbase stock.

Coinbase sues US SEC

Coinbase, one of the leading crypto exchanges in the United States, has filed a lawsuit against the United States Securities and Exchange Commission.

The lawsuit comes after the crypto exchange filed a petition with the SEC last summer. Coinbase wants the securities regulator to provide a yes or no to its request for the commission to draft and approve a digital asset-specific rule.

Coinbase’s chief legal officer Paul Grewal wrote in a blog post on Monday, stating that;

“From the SEC’s public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition. But they haven’t told the public yet. So the action Coinbase filed today simply asks the court to ask the SEC to share its decision.”

The crypto exchange can also file another lawsuit to try to make a federal court force the SEC to make a new rule if the regulatory agency declines.

The SEC and Coinbase are currently in what could become a long legal battle. Last month, the SEC served Coinbase with a Wells Notice, indicating that it is looking into Coinbase’s activities for potentially violating U.S. securities laws.

Coinbase’s CEO revealed last week that the crypto exchange could relocate to another country if the regulatory unclarity in the United States persists. 

Ark Invest loads up on Coinbase stock

Ark Invest, an American investment management firm run by CEO Cathie Wood, continues its buying spree of Coinbase’s stock. The ARK Innovation ETF purchased 122,083 shares in Coinbase, the ARK Fintech Innovation ETF, meanwhile, bought 14,633 shares, while the ARK Next Generation Internet ETF added 20,327 shares, totalling $8.6 million.

Cathie Wood’s Ark Invest remains one of the biggest Coinbase shareholders despite selling $13.5 million worth of the stocks last month. 

The post Coinbase sues SEC, Ark Invest buys $8.6m in Coinbase stock appeared first on CoinJournal.

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As XRP price moves into a bear market, is it safe to buy the dip?

XRP price has come under intense pressure in the past few days as the recent crypto comeback started fading. Ripple dropped to a low of $0.4384, which is about 21% below the highest point this month, meaning it has moved to a bear market. 

Why is Ripple falling?

XRP price is falling because of its close correlation with Bitcoin, the biggest cryptocurrency in the world. In most periods, altcoins like XRP and ADA tend to rise when Bitcoin is rising and vice versa. Therefore, since there have been no major Ripple news, we can cite the recent decline to the overall decline of BTC. 

This price also mirrors the performance of American stocks. The Nasdaq 100 index has moved sideways in the past few days and is about 1.78% below the highest point this month. In most periods, cryptocurrencies also have a correlation with American stocks.

The next key Ripple news to watch will be the upcoming verdict in the ongoing civil lawsuit by the Securities and Exchange Commission. The SEC alleges that Ripple violated securities laws when it sold XRP to investors without registering with the agency.

It is still unclear when the judge will deliver the court’s verdict. It is also unclear how XRP will react to the verdict. However, I believe that the end of the case will be positive for Ripple because I suspect that the outcome will be a fine or an exoneration.

Meanwhile, Ripple recently launched the Ripple Liquidity Hub as it seeks to provide more solutions to businesses. The service is making it possible for businesses to access simple and seamless ways to manage liquidity needs. It is also enabling people to manage fiat, cryptocurrencies, and CBDCs among others.

XRP price prediction

The 4H chart shows that the Ripple price has dropped sharply after hitting the key resistance point at $0.5826 on March 29. The coin has flipped the key level at $0.5568 from a support into a resistance. It has moved to the 25-day and 50-day exponential moving averages. Ripple has moved slightly above the key support at $0.4326, the highest point on January 22. 

It has also formed a small bearish pennant pattern. Therefore, for now, there is a likelihood that the coin will have a bearish breakout as sellers target the key support level at $0.400, which is about 12% below the current level.

How to buy Ripple

eToro

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Buy XRP with eToro today

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy XRP with Bitstamp today

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Don’t be fooled by Bitcoin’s recent calm, volatility is coming: Opinion


Key Takeaways

  • Bitcoin has been tightly range-bound for last month, its 10% fall this week its biggest move since the banking crisis
  • Dan Ashmore, our Head of Research, warns that volatility will return before long
  • Over 50% of stablecoins have left exchanges and orderbooks are thin, he writes, meaning there is less needed to move the price
  • T-bills paying 5% have pulled capital from the space, leaving Bitcoin more open to big price moves
  • Direction will depend on interest rate policy, with economy at crucial juncture

Bitcoin has pulled back over the last week, the orange coin dipping 10% from just north of $30,000 to $27,200. But the remarkable thing about this price move is how unremarkable it is. 

Bitcoin has been extremely tightly bound since the banking crisis subsided over the last month, its daily moves notably gentle compared to its usual extreme volatility. This relatively benign 10% move – Bitcoin has printed a 10% candle in seconds before – amounts to the largest move since the banking crisis subsided and Bitcoin propelled upwards as interest rate forecasts softened. 

In fact, when you plot the average of the last 30 days of price moves, this past month is now close to flat, but history shows that it has never stayed around that placid level for long. 

We can be particularly certain that volatility will return this time around. That is because one of the key factors in heightened volatility is as prominent as ever in the Bitcoin markets: a lack of liquidity. 

With less liquidity, there is less money needed to move prices. And right now, liquidity is as thin as it has been in quite a while. 

Since the exit of Alameda in the aftermath of the disastrous FTX collapse, order books have been shallow. Looking at stablecoin balances on exchanges is another indicator of this. I put together a deep dive recently analysing the extraordinary outflow of stablecoins from exchanges: 45% of the total balance has fled exchanges in the last four months. The updated figure is over 50% of stablecoins gone since December. 

In a world where interest rates have ballooned at the fastest rate in recent memory, while yields in the crypto space fall, perhaps this is not surprising. T-bills are now paying over 5%, while crypto investors have seen countless blowups in the space – Celsius, Terra and FTX – while sentiment has collapsed and fear flooded the market. 

When there is a US government-guaranteed investment paying 5.1%, why would anyone hold a stablecoin with the risks that flooded the market over the last year?

And so, while Bitcoin has been trotting a relatively peaceful path over the past month, the party on the charts will return before long. With thin liquidity comes heightened volatility, meaning if there is a trigger in the market, Bitcoin’s price could very likely move further than what it otherwise would. 

In fact, looking at the volatility metrics, while it has dipped in the last two weeks, realised volatility was the highest since June 2022 earlier this month. So while the price moves have been cancelling each other out as Bitcoin oscillates within a tight window, counter-intuitively, the volatility is still high. 

The trillion-dollar question, of course, is which direction will it go.

I’m not smart enough to predict that with any degree of confidence in the short term, but whichever way it moves, it will depend on macro conditions. Bitcoin continues to hold the stock market’s hand, its correlation with the tech-heavy Nasdaq especially high. 

With financial markets still so dependent on interest rates, the word of Jerome Powell and the Federal Reserve will remain key. Backing out probabilities from Fed futures, the market seems to be betting that the Fed has perhaps one more hike in it before shutting up show on this period of tight monetary policy. 

As we saw last month with the banking crisis, this plan could change quickly. It really is a macro climate of unprecedented nature, this mix of high inflation and generationally quick rate hikes, even if coming from such a low base. 

Risk assets will have their day again, it’s just a question of when. In the short term, it is hard to say, but whichever way the sentiment goes, don’t expect Bitcoin to remain asleep for very long. 

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