Monat: August 2023

Veröffentlicht am

SEI token takes a hit, plunges 26% after a splendid performance

  • At press time, SEI was trading at $0.1625 down 12.02% from where it was trading at yesterday the same time.
  • The token’s trading volume has also dropped by 42% in the last 24 hours.
  • SEI recently announced it was increasing the number of eligible wallets for $SEI Airdrop from 500K to 1.5M wallets.

SEI token price dropped to $0.1496 in the early hours of Friday morning, sending shockwaves among investors. The token has seen a very strong performance over the past seven days and it hit an all-time high of $0.2736 on August 16.

But why is the price of SEI dropping? Why is SEI going down after such a magnificent surge? Well, this article shall delve into the details of what caused SEI to take a dive.

Here’s why the SEI price is going down

This price decline coincided with a decision by Sei Foundation to open airdrop claims to 1 million more wallets than previously anticipated.

Sei blockchain mainnet beta went live on August 15 promising to hold a token airdrop afterwards.

Sei today reported that the number of wallets eligible for the airdrop had surged from the initially planned number of 500,000 wallets to roughly 1.5 million in response to what the Sei Foundation termed “fervent demand.”

The wallet surge is believed to have incorporated users from a variety of other blockchains pouring into the blockchain including but not limited to Ethereum, BNB Chain, and Polygon.

Sei Foundation had earmarked 3% (300 million) of SEI tokens for the airdrop, which constitute a significant chunk of the 1.8 billion Sei coins currently circulating out of the token’s total supply of 10 billion coins.

Token airdrops often trigger a cascade of sell-offs as eligible users rush to convert their newfound coins into cash or other cryptocurrencies.

The post SEI token takes a hit, plunges 26% after a splendid performance appeared first on CoinJournal.

Veröffentlicht am

Bitcoin dropped below $26k in sudden crash: Will traders suffer more losses

Key takeaways

  • Bitcoin dropped below the $26k level on Thursday, with traders losing nearly $1 billion in the process.

  • Chancer’s stage two presale is now closing in on the $1.5 million mark.

The cryptocurrency market has been extremely bearish since the start of the week. The prices of most cryptocurrencies are down by more than 5% over the last seven days.

Despite the bearish sentiment, Chancer’s presale is set to hit another benchmark as stage two is approaching the $1.5 million mark.

Bitcoin drops to the $25k zone

Bitcoin, the world’s leading cryptocurrency by market cap, has been extremely bearish over the past 24 hours. BTC lost nearly 10% of its value and dropped to the $25,300 level late on Thursday.

The bearish trend saw long traders lose nearly $1 billion. However, the market is starting to recover, with Bitcoin and others setting new support levels. At press time, the price of Bitcoin stands at $26,543. 

What does this mean for Chancer?

The bearish performance could see some investors take advantage of the discount price to invest in more cryptocurrency projects. Investors could be looking to purchase more bitcoins and other cryptocurrencies ahead of a likely bullish cycle.

As more investors look for projects to invest in, Chancer could be one of the projects they might consider. 

Chancer is one of the exciting and new projects currently in the cryptocurrency space. With stage two presale set to hit an important milestone, it is clear Chancer is gathering momentum amongst retail investors. 

The Chancer team is currently developing a unique Web3 peer-to-peer (P2P) custom betting platform that would make it possible for users to live-stream betting events. 

Chancer wants to decentralise the betting industry and is leveraging blockchain technology to achieve its objectives. 

With Chancer, there are no restrictions to betting opportunities for users. This implies that users can bet on a wide range of events, beyond traditional sports and casino bets. 

The Chancer presale is in its second stage and has raised nearly $1.5 million of the $2 million required. In the second presale, CHANCER is selling for $0.011 USDT but will be increased to $0.012 in the third stage. 

Funds raised from the multiple presale events will be geared towards building Chancer’s decentralised P2P betting platform. 

The developers will use the funds raised from the various funding rounds to build a P2P betting platform. 

According to their whitepaper, Chancer users will have access to a wide range of features, including, betting markets in real-time and based on user interests, social media connections, and expertise. 

Furthermore, with Chancer, users will no longer have to deal with the problems associated with using bookmakers when betting as they would be allowed to set up their custom P2P betting markets. 

An important feature of Chancer is that users can bet on various activities. Users can bet on important sporting or political events or trivial ones like the first to complete a task amongst friends. 

CHANCER to go for $0.012 in the third presale stage

Chancer’s second presale stage will be completed soon and the team will move to the next phase. In this current stage, the CHANCER token is going for $0.011 USDT

However, the team will increase the token price to $0.012 in the third presale round. Funds generated from the presale will be used to develop Chancer’s suite of products. There would be 12 presale events, with an accumulated target of $15 million. 

The CHANCER token will power numerous activities within the ecosystem. Token holders can create and invest in markets within the Chancer ecosystem. Furthermore, token holders can also create, participate in, and profit from their very own predictive markets. 

The CHANCER token can be purchased using numerous wallets, including, Trust Wallet, MetaMask, Coinbase Wallet, and Rainbow. 

Visit the Chancer website to get more information about the presale. 

Should you invest in Chancer now?

The recent bearish trend in the market could see more investors troop into the market as they look for buying opportunities. 

Investors could be looking to invest in projects in their early stages and Chancer could be one of the projects to consider due to its unique native. 

By decentralising the betting ecosystem, Chancer could gain massive adoption within the Web3 space and beyond. The adoption of the Chancer platform could result in a rally by its native CHANCER token. 

The post Bitcoin dropped below $26k in sudden crash: Will traders suffer more losses appeared first on CoinJournal.

Veröffentlicht am

Binance to convert all New Bitshares (NBS) token balances to USDT before year ends

  • Binance periodically reviews its listed tokens to ensure they continue to meet the high level of standard we expect.
  • The New Bitshares (NBS) token was delisted by Binance in October last year.
  • At press time, the NBS token was trading at $0.0002246, down 6.05% in the last 24 hours.

Binance, the biggest cryptocurrency exchange in the world, has indicated that it will convert all New Bitshares (NBS) token balances in users’ wallets to USDT by December 8, 2023. The conversion will be carried out using the average NBS/USDT exchange rate between September 9 and December 8, 2023, and will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.

New NBS token deposits will not be credited to users’ accounts and withdrawals will not be possible until September 9, 2023.

Binance delisted tokens

The announcement of converting the NBS tokens to USDT comes almost a year after the exchange delisted District0x (DNT), New Bitshares (NBS), Bitcoin Gold (BTG), and Token Club (TCT) on October 24, 2022.

In the previous announcement, Binance had stated that deposits of these tokens will not be credited to users’ accounts after October 2022-10-25 00:00 (UTC). Users were supposed to commence withdrawing the delisted tokens and the withdrawals were to continue to be supported until January 25, 2023, at 00:00 (UTC).

What users should expect

According to the announcement made by Binance, users who hold New Bitshares (NBS) tokens in any of their Binance wallets will receive an email notification by August 25, 2023. 23:59 (UTC).  

The users will be able to continue withdrawing their New Bitshares (NBS) tokens from Binance until September 9, 2023, 00:00 (UTC), subject to network conditions and availability. After this date, users will not be able to withdraw or transfer their NBS token to any external wallets.  

The users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 0, 2023, which is the scheduled date when the conversion will be completed. During the conversion period which will run between September and December, users will not be able to see their New Bitshares (NBS) token balances in their Binance wallets.

The post Binance to convert all New Bitshares (NBS) token balances to USDT before year ends appeared first on CoinJournal.

Veröffentlicht am

Shiba Memu presale hits $2.1M as Shiba Inu’s Shibarium faces challenges

  • The highly-anticipated Shibarium layer-2 network is having problems with its bridge contract.
  • Approximately $1.7 million worth of Ethereum is currently stuck on the bridge contract.
  • Shibarium launch was expected to add some impetus to the price of SHIB but that has not happened.

The much-hyped layer-2 network of Shiba Inu, Shibarium, is having significant problems a day after its launch. The network was expected to turn the tables of the SHIB token, which has been under bearish pressure for the last seven days; but that has not been the case. The token has dropped by over 10% since the Shibarium went live.

But as the future of Shiba Inu hangs on tenterhooks, another Shiba-themed meme coin called Shiba Memu (SHMU) is taking the crypto space by storm with its token presale which has hit $2.1 million in a little over a month. Shiba Memu is leveraging the power of artificial intelligence (AI) and the hype around meme coins.

What is happening with Shibarium?

According to an analysis of the Shibarium network’s bridge contract, which transfers money from Ethereum to the layer-2 solution, there is currently $1.7 million worth of Ethereum stranded between the two networks.

The locked status of the funds has been confirmed by the blockchain security team Beosin, who has advised people to stop using Shibarium temporarily.

In addition to the locked-up tokens, blockchain sleuth ZachXBT highlighted that $762,000 worth of BONE, a Shibarium governance token, was sent to the bridge contract.

According to the information on BlockScout, only 236 transactions had been validated on Shibarium Network almost two days after the network was launched.

Some users have pointed out issues with Shibarium’s remote procedure call (RPC) system, which allows access to a network’s server node to communicate with the blockchain.

The response by Shiba Inu’s developer

Interestingly, the pseudonymous Shiba Inu developer Shytoshi Kusama repudiated reports that what Shibarium was facing was “a bridge issue.” In a newsletter, Kusama said:

“Our technical difficulties are due to the massive amount of traffic we experienced within moments on Shibarium,” they said. “The team is working tirelessly to fix the issue and scale so that we can give the ShibArmy the experience they deserve. All funds are safe.”

A moderator in Shibarium’s Discord also stated that “as a precautionary measure,” admins “have temporarily restricted access to certain channels due to the spread of misinformation and fake websites.”

What Shibarium’s misfortunes mean for Shiba Memu

Well, Shiba Inu stands out as a major rival to Shiba Memu and its mishaps could only be translated to mean an advantage to the new Shiba Memu project, which is already on course to become the most popular meme coin project.

Shiba Memu is a revolutionary token combining AI and the latest technology to create an entirely self-sufficient marketing powerhouse, deviating from the norm of most meme coins which purely depend on community involvement.

The post Shiba Memu presale hits $2.1M as Shiba Inu’s Shibarium faces challenges appeared first on CoinJournal.