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Wemade launches Web3 live chat app Tangled on NFT platform NILE

  • Wemade says Tangled features an AI-based verification system to enhance safety for the Web3 live chat users.
  • Users can accumulate time points and swap them for utility tokens like WEMIX.
  • Wemade is making giant steps in bridging traditional gaming to Web3 and blockchain.

Wemade, a leading South Korean based gaming and blockchain company, has today launched the new Talk to Earn (T2E) decentralised application dubbed Tangled on its DAO and NFT Platform NILE.

The popular video game developer, whose The Legend of Mir title is one of the biggest gaming hits, shared the news via a press release on Monday. 

According to Wemade, the Web3 live chat dApp uses AI-based AI-based verification to ban fake gender accounts or profiles. The artificial intelligence helps to ensure dApp users enjoy the highest standards of safety and chat experiences, the firm noted.

Live chat and earn points

Tangled users will have an opportunity to chat with others across the globe. The chat application has a built-in mechanism that allows users to earn time points as other users accept their chat offer.

Accumulated points are then saved in native Tangled NFT called Tangled Timepieces. The NFTs are in three grades – Luxury, High-End, and Zenith. A user can fuse same grade NFTs to achieve a higher grade NFT. Higher graded pieces mean more time points and longer live chat times.

Users can also exchange time points for TIPO, a utility token that one can then swap for other digital assets such as WEMIX.

Microsoft-backed Wemade has been aggressive in its blockchain and Web3 strategy since CoinJournal reported on the firm’s “blockchain facelift” for Legend of Mir in 2020. 

The company recently partnered decentralised warehousing provider Space and Time to help power its blockchain gaming platform WEMIX PLAY. The collaboration will see Wemade help the next wave of GameFi development, Wemade announced.

The UNI token also rallied last July when Wemade announced it would add liquidity to Uniswap. The Korean game developer’s interest via the WEMIX/USDC pool on Uniswap V3 saw huge volume spikes, aiding the uptick in UNI price.

The post Wemade launches Web3 live chat app Tangled on NFT platform NILE appeared first on CoinJournal.

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Bitcoin price prediction: Watch out for CPI event this week

  • Bitcoin price hovers above $28k with a ranged trading over the past month.
  • Analyst Michael van de Poppe says the US consumer price index report out this week could be a big market mover.
  • Bitcoin’s volume weighted average price (VWAP) is a metric to also watch.

Bitcoin price continued its ranged trading this past weekend, with bulls retesting the $28,500 area. As the week starts, the top cryptocurrency could see an injection of volatility.

Indeed, crypto analyst Rekt Capital says bitcoin remains “well positioned for mid- to long-term upside”, particularly as the cryptocurrency moves towards its next halving event. 

But what about the next few days? Below is what analysts say about Bitcoin price this week.

Bitcoin price prediction ahead of CPI data this week

According to crypto analyst Michael van de Poppe, BTC is still in consolidation – which has stretched from around mid-March. But with big economic news on the cards this week, the market could be in for a bit of movement.

In a comment on Bitcoin price he shared on Monday, van de Poppe said the upcoming Consumer Price Index (CPI) data expected on 12 April is a “big event this week.” 

If buyers manage to retest the $28,600 level, its likely BTC will break higher.

“Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation. Big event this week with CPI, probably the market mover. If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards,” the analyst noted.

Here is the analyst’s Bitcoin price chart.

Trading volume metric and BTC price outlook

Pseudonymous analyst bitcoindata21 also says the CPI news this week will likely be a major market catalyst. However, he also highlights Bitcoin’s Volume Weighted Average Price (VWAP), which he says currently sits on the benchmark cryptocurrency’s all-time highs.

VWAP takes into account the average price of a trading asset as weighted by its total trading volume. 

The metric helps analyse and forecast price movement based on the average value over a given period. In this case, bitcoindata21 highlights the 30-day VWAP on 15 April, with a potential upward crossing on 13 April.

The chart below bitcoindata21 shared on Twitter shows a comparison of the 2019 and 2023 price movements.

Bitcoin price VWAP historical data outlook comparing 2019 and 2023. Source: bitcoindata21 on Twitter.

The 1-month sideways trading along the VWAP is similarly positioned as was in 2019 before BTC went on to hit a new all-time in the last bull market.

The post Bitcoin price prediction: Watch out for CPI event this week appeared first on CoinJournal.

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Report showing Binance.US unable to find bank partners in the US

  • The recent failures of Silvergate and Signature Bank left Binance.US without banking services.
  • Binance.US is looking for a new bank partner to serve as a fiat on-ramp and off-ramp for its clients in the US.
  • A WSJ report has however indicated that the exchange is facing challenges in identifying the bank partner.

Binance.US, the United States arm of global crypto exchange Binance, is in the process of identifying a new bank partner that will serve as a fiat on-ramp and off-ramp. The crypto exchange was left with a bank partner after the collapse of the Silvergate and Signature Bank.

However, according to a report published by the WSJ on April 8, Binance.US has been facing challenges in establishing a new bank partner. According to the report, the exchange has been depending on middleman banks to store funds.

Currently, Binance.US is holding customer funds through the financial technology firm Prime Trust’s banking partners.

Regulatory crackdown on banks with crypto clients

Binance.US has had a number of attempts in establishing a direct banking relationship with the likes of Cross River Bank and Customers Bancorp, but they have all failed.

The regulatory crackdown in the US on banks with cryptocurrency clients is seen as a major factor contributing to the struggles the exchange is facing in identifying a new banking partner.

Binance has been the focus of the US Commodity Futures Trading Commission (CFTC) investigation since 2021. The CFTC sued Binance Holdings and its CEO, Changpeng “CZ” Zhao, last month for alleged trading violations. And although CZ issued a statement refuting CFTC’s allegations, the lawsuit has had a significant effect on the exchange including leading to a drop in the exchange’s crypto market share.

The absence of a direct bank has greatly affected Binance.US customers, especially after Binance said that some US dollar deposit services would be temporarily affected as it transitions to new banking and payment service providers over the next few weeks.

The post Report showing Binance.US unable to find bank partners in the US appeared first on CoinJournal.

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Bitget starts a new $100M fund targeting Asian Web3 startups

  • Crypto projects are seeking non-US jurisdictions
  • There has been a surge in crypto-targeted crackdowns by authorities in the US.
  • On the contrary, East Asian countries have been making strides to promote crypto in the last few months.

Seychelles-based crypto exchange Bitget has launched a new $100 million Asia-Focused Web3 Fund. The cryptocurrency exchange aims to take advantage of the recent strides by a majority of Asian countries to promote cryptocurrencies over the last months as opposed to the recent crypto crackdowns in the United States according to recent crypto news.

The exchange seems to follow in the footsteps of the Huobi cryptocurrency exchange, which IN February intends to expand into Hong Kong by seeking a license to operate in the country.

Hong Kong is seemingly easing its crypto regulations while Japan recently approved a whitepaper for Web3 development.

In a statement sent to media outlets, Gracy Chen, the Managing Director of Bitget, said:

“Despite the bear run, Bitget has always been supporting promising and innovative projects and the development of the Web3 environment with a focus on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023.”

A self-funded fund

According to a spokesperson at Bitget, the newly unveiled fund will be self-funded. The spokesperson said:

“Bitget is debt-free with adequate cash flow, thanks to its steady development and fast-growing business.”

Bitget exchange seems to be on an investing spree since the launch of this fund comes days after the exchange made another $30 million investment into the decentralized multi-chain wallet BitKeep.

The post Bitget starts a new $100M fund targeting Asian Web3 startups appeared first on CoinJournal.