Kategorie: Crypto Markets

• Metacade is expected to list on BitMart after signing the listing terms.
• Metacade presale is currently in the Beta Sale stage.
• The Beta round price of the MCADE token is 0.01 USDT for 1 MCADE.

After a successful Metacade (MCADE) presale amid the current crypto bear market, Metacade has today announced that it has signed the terms to get listed on BitMart, a leading crypto exchange ranked at position 21 by CoinMarketCap with an average daily trading volume of about $447M.

🚨🚨🚨 BREAKING 🚨🚨🚨

We are delighted to announce that we have signed terms with one of the leading exchanges in the crypto space, @BitMartExchange! ⚡⚡⚡

With over $447m of trading volume in the last 24 hours, they stand 21st in the @CoinMarketCap exchange rankings! 🔥 pic.twitter.com/4fxrM0ul6I

— METACADE (@Metacade_) December 23, 2022

If the listing process is to be completed successfully, BitMart will be among the first cryptocurrency exchanges to allow its customers to trade the decentralized GameFi token that has been making headlines in the past month.

MCADE token performance so far

Before delving into the performance of the Metacade (MCADE) token, it is important to mention that Metacade is disrupting the crypto market as we know it by creating a decentralized GameFi hub that will bring everything related to Play-to-Earn (P2E) on one platform. P2E games have been such a hit within the blockchain and crypto world, which is likely the reason behind the great performance of the MCADE token at a time when even the likes of Bitcoin (BTC) and Ethereum (ETH) are struggling.

The MCADE token is currently in the Beta presale round and 54% of the available MCADE tokens have already been sold out raising a whopping $1,340,966. One MCADE token is going for 0.01 USDT and the price is expected to rise to 0.012 USDT for one MCADE token in the next stage.

The next phase for Metacade is expected to be highly exciting as gamers and blockchain fanatics collaborate, communicate, and participate in things like dynamic virtual hangouts on the platform.

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• The decentralised application (Dapp) industry saw a 50% growth in unique active wallets in 2022.
• DappRadar’s 2022 report shows that DeFi, gambling and blockchain games dapps were the most popular.
• However, DeFi protocols unique active wallets grew only 2% even as total value locked (TVL) by 73%.

2022 has been one of the most brutal for the cryptocurrency industry, with the crypto winter punctuated not just with plummeting prices but also major negative events. FTX’s implosion is a case in point, DappRadar, the world’s largest dapps store, noted in its Dapp Industry Report 2022.

But despite the turmoil and the ongoing bear market, crypto has shown a resilience that’s reflected in events such as Ethereum’s successful Merge that has seen energy consumption decline by 99.9%.

The year has also witnessed several other surprising growth metrics, DappRadar indicated in the end-of-year report. One of these is the significant growth in a key metric for the decentralised applications (dapps) sector – an increase in overall daily unique active wallets.

Dapps saw 50% growth in unique active wallets

According to the DappRadar report, the dapp industry registered a 50% increase in daily unique active wallets (dUAW) for 2022. Per the data, dUAWs rose from average of 1.58 million in 2021 to over 2.37 million in 2022.

As per the report, DeFi, gambling, and games were the most popular dapps categories. Although DeFi activity reduced, with dUAW only increasing by 2% to a daily average of 652,970 from 641,510 in 2021.

Gambling dapps registered 53,364 dUAW in 2021, but that number increased by 106% in 2022 to reach an average of 110,140 dUAW.

Blockchain-based games also saw a significant jump in daily unique active users, with an 85% increase in 2022 pushing the metric from 622,620 dUAW to 1,152,255 daily unique active wallets.

DeFi industry TVL decreased significantly in 2022

While the dapps industry remains on the path to greater adoption – we recently highlighted the sector saw a 31% growth in users in Q3, 2022 – the Total Value Locked (TVL) shrank massively amid the bear market. 

In 2022, DeFi TVL decreased by 73.97% to $55 billion as of December, down from the all-time high above $256 billion in December 2021.

Despite the significant declines, the top two DeFi chains remain as Ethereum and BNB Chain – which have unfortunately seen their TVL shrink by 74.56% and 62.5% respectively in 2022. Meanwhile, layer2 solutions like Arbitrum and Optimism have fared better. For instance, Arbitrum’s TVL only fell 12% while Optimism’s jumped 127%

The post Dapps’ daily unique active wallets increased 50% in 2022 appeared first on CoinJournal.

• California Department of Financial Protection and Innovation (DFPI) has ordered MyConstant to cease offering some products.
• The DFPI had warned in July that it would crack down on crypto interest account providers.
• DFPI argues that MyConstant offered and sold unqualified, non-exempt securities.

In a press release on December 21, the California Department of Financial Protection and Innovation (DFPI) ordered crypto lending platform MyConstant to “desist and refrain” from offering a  number of its crypto-related services in California. This comes after the department warned in July that it would be cracking down on crypto interest account providers in the state.

The DFPI first announced it was investigating MyConstant on December 5 via a press release that stated that MyConstant was not licensed to operate in California.

MyConstant was specifically ordered to stop offering its peer-to-peer loan brokerage service and interest-bearing crypto asset accounts. The DFPI says that the two products violate the California Consumer Financial Protection Law and California Securities Law.

According to the DFPI, MyConstant’s offering and selling of its peer-to-peer lending service known as “Loan Matching Service” contravenes California’s financial codes. The department said that the crypto lender engaged in “unlicensed loan brokering,” since the platform allowed lenders to lend without proper licenses.

DFPI’s problem with MyConstant interest-bearing products

Besides the P2P lending, the DFPI also has problems with MyConstant’s fixed interest-bearing crypto asset product. The product allows customers to deposit crypto assets and fiat with the promise of receiving a fixed annual percentage interest return.

According to the DFPI, the product is an example of where MyConstant offered and sold unqualified, non-exempt securities.

MyConstant has been facing hard economic times

The action by DFPI comes at a time when the crypto lender seems to be going through tough times. On November 17, it announced that it was unable to continue with business as usual due to the rapidly deteriorating market conditions that prompted heavy withdrawals.

The platform then limited its business activities including pausing withdrawals and announcing that “No deposit or investment request will be processed at this time.”

Since then MyConstant has been updating its users on its website on future plans including recently (December 15) updated plans that include a financial overview, estimated recovery, and liquidation schedule.

The platform has however continued to offer crypto-backed loans, ensuring borrower compliance, processing loan repayments, returning borrowers’ collateral once they repay their loans in full, and liquidation of borrowers’ collateral if they default.

The post MyConstant ordered to cease crypto-lending services in Califonia appeared first on CoinJournal.

• XRP whales and sharks bought more coins in December to bring total addresses and percentage of supply to new highs.
• Large holders appear strongly bullish on the coin’s price, despite Ripple Labs’ ongoing battle with regulators.
• There are 1,617 wallet addresses with 1 million to 10 million XRP, with total holdings for these addresses about 7.23% of supply.

XRP has seen some massive accumulation by large holders in 2022, despite the bear market and all the baggage that has come with Ripple Labs’ court tussle with the US Securities and Exchange Commission (SEC).

In the market, the XRP price has remained in a downtrend since a sharp decline in May. The coin currently trades around $0.3437.

XRP whales and sharks push holdings to new highs

According to on-chain statistics shared by analytics firm Santiment, XRP addresses with 1 million to 10 million coins have added to their holdings as 2022 draws to a close. Per the platform, these groups of XRP holders – the category of sharks and whales – have recently seen their total number and percentage of supply surge to new all-time highs.

🐳🦈 #XRPNetwork whale and shark addresses that share the 1M to 10M $XRP tier have been rapidly accumulating to end 2022. In December, both the amount of these sized addresses (1,617) and their percentage of supply held (7.23%) have hit a new #AllTimeHigh. https://t.co/R8bDPUviq1 pic.twitter.com/4GyrMPxYPV

— Santiment (@santimentfeed) December 20, 2022

On-chain data shows the whale and shark cohorts in the XRP ecosystem that control wallets with 1 million to 10 million XRP increased in December to 1,617.

The rapid accumulation seen across these two tiers have come as the past few weeks saw crypto prices plummet amid the FTX contagion.

But the downturn appears to have offered large XRP accounts the opportunity to buy low, with the above category of addresses increasing their percentage share of circulating supply. As per the current stats, whales and sharks hold 7.23% of 50.34 billion XRP.

Both this and the number of addresses highlighted above are trending at a new all-time high.

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