Monat: Juli 2024

• Notcoin and Helika, an AI-powered analytics firm, are using the Telegram Gaming Accelerator to help game developers create the next wave of Telegram games
• The first cohort of applications for the accelerator are set to open next week
• Notcoin is one mini app that uses basic gameplay by giving real crypto rewards during airdrops to its players

Telegram-based Notcoin has announced it’s launching an accelerator – in partnership with Helika, an AI-powered analytics firm – to boost the growing space of Telegram games.

Using The Open Network or TON blockchain, the Telegram Gaming Accelerator will help game developers lead the next wave of Telegram mini app games, according to Notcoin following an announcement on X. 

Backed by a $50m fund from Helika Accelerate, the pair “will help game studios, mobile apps, and indie developers to build great gaming experiences,” said Notcoin.

Coming off the back of the success of Telegram’s mini apps, Notcoin said on X that the social platform’s user base resulting from the mini apps had become the “new meta.”

The first cohort of applicants for the Telegram Gaming Accelerator is set to open next week.

Rapid growth

Notcoin, which was the first mini app to witness great success, takes an innovative approach to gameplay by including crypto rewards. 

Within weeks of launching, and following an airdrop, in June the NOT token passed the $2bn market capitalisation mark. Since then, and at the time of writing, it has settled around $1.2bn, with one token worth $0.01187.

The altcoin did experience a post-launch plunge of 53% dropping to around $0.006398 and triggering concerns among investors.

Other Telegram-based games that have seen similar success include Hamster Kombat and Catizen, both of which involve users pressing a button during the game. Both of these employ the use of basic gameplay with real crypto rewards through airdrops.

Telegram is diversifying

This latest move from Telegram highlights its intentions to branch out and mix up the number of games on the TON blockchain. By doing so, it hopes to attract a wider audience where they are rewarded through gameplay.

Partnering up with Helika is also a significant move from Notcoin. The AI analytics firm has already worked with gaming company Ubisoft and Bored Ape Yacht Club creator Yuga Labs to include crypto into gameplay.

The post Notcoin Set to Boost Telegram Crypto Gaming with a $50m Accelerator appeared first on CoinJournal.

• Bitcoin price dropped below $58,000 on Thursday, touching lows of $57,166.
• The nearly 5% decline came amid fresh sell-off pressure, with whales and government wallets selling BTC.

Bitcoin traded to under $58,000 on Thursday, decreasing nearly 5% in 24 hours amid massive sell-off pressure. According to CoinMarketCap, BTC price reached lows of $57,166 across major cryptocurrency exchanges.

While price has recovered to above $57,800, Bitcoin remains down 3.9% in the past 24 hours and 5.4% in the past week.

BTC plunges below $58k as sell-off intensifies

Per data shared by Spot On Chain, Bitcoin’s sharp price decline today has come amid huge selling pressure.

On-chain data shows massive BTC offloading by government-linked wallets and whales, which the analyst says are reasons likely behind the dump.

One of these is a whale who moved 3,500 BTC worth over $206 million to Binance, with this unidentified large holder’s wallet still holding 4,368 BTC currently valued around $256 million.

The German government, which has actively sold BTC in recent weeks, also transferred more Bitcoin to exchanges today. On-chain data shows 3,000 bitcoins moved today, with 1,300 BTC going to different CEX platforms.

Also notable is the 237 bitcoin transfer by the US government wallet and another 1,023 BTC deposit to Binance by a whale.

Meanwhile, Mt.Gox repayments have reportedly began and this could add to more downside pressure for Bitcoin, Bitcoin Cash and other cryptocurrencies.

BTC could drop to $50k

Bitcoin recently rebounded from near $57k and the area looks to be a key area for bulls.

However, with increased pressure amid a broader market downturn could mean a fresh demand zone will be lower. Per analysts at IntoTheBlock, breaching $60k could see bears targeting lower support levels.

“Historically, demand just below $60k has been weak, suggesting further downward pressure. The next significant demand zone lies between $40,000 and $50,000,” the platform posted on X.

Meanwhile, former BitMEX CEO Arthur Hayes thinks the downside pressure for BTC is likely to continue “until morale improves.”

The post Bitcoin plummets 5% amid massive sell-off appeared first on CoinJournal.

• One of Bitwise’s amendments is that it’s added a six-month fee waiver of up to $500m
• Analysts believe listings could take place over the course of July
• Bloomberg ETF analyst Eric Balchunas doesn’t know why the SEC is “taking their sweet time” with making a decision

Asset management company Bitwise has filed an amended S-1 registration form for a spot Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC) days before the July 8 deadline.

Filing the amended form on July 3, Bitwise added a six-month fee waiver of up to $500 million; however, it didn’t specify what the management fee would be once shares in the Bitwise Ethereum ETF are listed on the NYSE Arca exchange. 

While Bitwise hasn’t indicated a launch date to the public, it did mention it would do so “as soon as practicable after the effective date of this Registration Statement.”

“Expect more from other issuers throughout the rest of the week,” said Bloomberg ETF analyst James Seyffart on X. “We’re thinking these things could potentially list later next week or the week of the 15th at this point.”

In June, Bitwise CIO stated that Ethereum ETFs could see around $15bn in net flows in their first 18 months on the market.

Taking their sweet time

The update from Bitwise follows from the SEC’s approval of eight spot Ethereum ETF 19b-4 filings in May, including Bitwise. The others being Ark, BlackRock, Fidelity, Franklin Templeton, Grayscale, Invesco Galaxy, and VanEck.

Taking to X, Bloomberg ETF analyst Eric Balchunas said “no one really knows why the SEC is taking their sweet time with these, given how light comments were, these could have easily been trading by now.”

Despite this, he believes that a launch could take place this month.

Notably, SEC Chair Gary Gensler said during a June Senate Banking Committee meeting that the commission could give a final nod of approval over the S-1s “sometime over the course of the summer,” but didn’t announce a date.

When the SEC approved the 19b-4s in May, the price of Ethereum spiked. It’s anticipated that once the greenlight has been given, Ethereum’s value will rise, giving it a much needed boost during current economic activity.

Currently, the price of Ethereum is down to around $3,165, as the market continues in the red following a market selloff.

The post Ethereum ETFs May Launch in July After Bitwise Files Amended S-1 appeared first on CoinJournal.