Kategorie: Crypto News

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Elon Musk suggests fight with Zuckerberg to stream on X

  • Elon Musk says his “bout” with Meta CEO Mark Zuckerberg should be streamed on X.
  • Chancer is expected to disrupt the traditional bookmaker with a new betting model.
  • $CHANCER presale has surpassed the $1 million mark amid huge investor interest.

It’s been talked about and teased for a while now – this fight between Tesla CEO Elon Musk and Meta counterpart Mark Zuckerberg.

While nothing is officially scheduled, both men have added to the burning embers this weekend.

Will the two billionaires square it out in the ring? It remains to be seen. However, what’s notable is that this is the kind of event you would find on Chancer, a new predictive markets platform set to launch in the first quarter of 2024.

Musk suggests X will stream Zuckerberg fight

Two tech billionaires taking their rivalry a notch higher and staging an actual ring – or cage – match is not an everyday event. While the Elon Musk vs. Mark Zuckerberg bout is unlikely to happen, both men have recently renewed their rhetoric about it.

In June, Musk pointed to his readiness for a “cage” match with the Meta CEO. As hyped as it was, it appeared to fizzle out even after Zuckerberg asked for the location. In July, Zuckerberg’s Threads, a rival to X (then called Twitter) launched, providing the latest spark. This weekend saw Musk himself post on X that the “Zuck vs. Musk fight will be live-streamed on X. He also noted that proceeds from the bout would go towards charity for veterans.

Zuckerberg shot back at Musk’s X streaming with a suggestion that the event should be on a “reliable platform that can actually raise money for charity.”

While this might turn out to be one massive war of words battle between these two, viewership if it ever happened could be colossal. It could also be a boon for punters, with multiple betting angles available – but sadly unlikely to make it to traditional betting platforms like Bet365, William Hill and Entain.

Where would almost anything bettable with regard any event with an outome be available? A decentralised crypto betting platform like Chancer could eventually be that marketplace.

What’s Chancer’s betting model?

Chancer is quietly building the kind of decentralised betting platform that could change the face of betting. As the team envisions in their whitepaper, the goal is to make this upcoming peer-to-peer (P2P) network the “world’s first decentralised social predictive markets platform.”

With centralised bookmakers increasingly making it more about the “house” than users, Chancer changes that. The design is for control to be in the hands of the user – and removing the centralised entity from the space means more chances for every day individuals to participate in betting events.

As a blockchain-powered platform, Chancer will have a native utility token called $CHANCER. Token holders will have full control of their bets, from creating one to setting odds and payouts. This means users won’t have the power to create betting markets on any event, but also share this with anyone within a global ecosystem.

Why is Chancer attracting so much interest?

The online betting and gambling industry is projected to grow at an estimated 11% CAGR up to 2030, up from around $64 billion at the end of 2022. With Chancer a potential threat to existing platforms, investors are taking advantage of its presale to acquire tokens at low prices.

Other than putting ordinary users in charge of their markets, Chancer provides an opportunity for one to earn more passive income. Holders of $CHANCER can win bets, get rewards for being market-makers and accumulate income via staking rewards.

The presale has surpassed the $1 million raised mark amid huge interest from crypto investors. Priced at $0.011 today, $CHANCER’s presale price will rise to $0.021. Demand could push it higher when the token launches on the open market and mainnet goes live in early 2024. Investors see the presale as a ideal time to position themselves early.

You can learn more about Chancer here.

The post Elon Musk suggests fight with Zuckerberg to stream on X appeared first on CoinJournal.

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ETH/USD unable to break $2000 despite a bearish July NFP report

  • The July NFP report was more bearish than bullish for the US dollar
  • Ethereum keeps failing at  $2,000, but the series of higher lows remains intact
  • Only a break below $1,300 would invalidate the bullish setup 

Market participants view the July NFP report released last Friday as neutral. On expectations of 205k new jobs in July, the US economy delivered 187k – an impressive number, close to the estimate. 

Moreover, the unemployment rate declined to 3.5% from 3.6%, indicating that the labor market remains resilient. 

However, details in the report do not offer such an optimistic perspective. For example, most jobs were created in three sectors alone (government, health, and education). Also, the AHE (Average  Hourly Earnings) increased MoM, suggesting that the Fed’s fight against inflation is far from over. 

Furthermore, the previous NFP number was revised down – again. This was the sixth consecutive month when the jobs number was revised down. 

Therefore,  the July NFP report was more bearish than bullish for the US dollar. Yet, the markets did not react on Friday but might do so in the week ahead. 

Ethereum chart by TradingView

Unless ETH/USD breaks below $1,300 the bullish bias continues

The technical picture looks bullish despite Ethereum being in a consolidation area for the last twelve months. More precisely, it looks like the market builds energy to break higher. 

Therefore, the path of least resistance is to break above $2,000. 

However, the market needs to keep the series of higher lows intact to remain bullish. In other words, the bullish bias would quickly turn bearish if the ETH/USD price drops below $1,300. Until then, expect bulls to keep bidding for a break above the $2,000 resistance level. 

The post ETH/USD unable to break $2000 despite a bearish July NFP report appeared first on CoinJournal.

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Block reports a 34% increase in its second-quarter Bitcoin revenue

  • Block reports market-beating results for its fiscal second quarter.
  • It attributed nearly half of its quarterly revenue to Bitcoin sales.
  • Shares of the fintech still ended nearly 15% down on Friday.

Block Inc ended nearly 15% down on Friday even though it reported market-beating results for its second financial quarter.

Bitcoin made up half of Block’s Q2 revenue

The financial technology company saw continued interest in digital assets in Q2.

Its Bitcoin revenue went up 34% on a year-over-year basis to $2.40 billion and made up nearly half of its total quarterly revenue. Block also revealed in a letter to shareholders today:

As of June 30th, fair value of our investment in BTC was $245 million based on observable market prices, which was $142 million greater than carrying value after cumulative impairment charges.

The multinational attributed $44 million worth of gross profit in its recently concluded quarter to Bitcoin sales – up 7.0% versus a year ago. Block shares are now down nearly 30% versus their year-to-date high.

Notable figures in Block’s Q2 earnings print

  • Lost $123 million versus the year-ago $208 million
  • Per-share loss narrowed from 36 cents to 20 cents
  • Adjusted EPS printed at 39 cents as per the press release
  • Sales went up 26% year-on-year to $5.53 billion
  • Consensus was 36 cents a share on $5.1 billion in revenue
  • Square and Cash App gross profits climbed 18% and 37%
  • Gross payment volume increased 12% to $59.01 billion

Block now forecasts $1.5 billion in full-year adjusted EBITDA. Its previous guidance was for $1.36 billion. The conglomerate also said in its letter to shareholders:

In early 2023, we incorporated Gen AI as a strategic priority because we believe the tech can create new features and efficiencies for our customers.

Wall Street currently has a consensus “overweight” rating on Block stock.

The post Block reports a 34% increase in its second-quarter Bitcoin revenue appeared first on CoinJournal.

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Miami mayor to accept presidential campaign donations in BTC

  • Miami Mayor Francis Suarez, a Republican, announced his candidacy for the 2024 presidential election in June.
  • Miami has currently been trending for all the right reasons from Lionel Messi mania to the mayor accepting BTC donations.
  • The mayor has also said that he would ban a central bank digital currency (CBDC).

Bitcoin-friendly Miami Mayor Francis Suarez has said that he will accept Bitcoin (BTC) donations for his presidential campaign.

Speaking on a popular media TV outlet, Suarez said:

“Officially, my campaign is accepting bitcoin,” Suarez explained. “This is a process of developing technologies that will create democratising opportunities for wealth creation and will not be manipulated by a human being’s ulterior motives, political goals, and so on.”

According to Suarez, supporters can now donate as little as 0.00034BTC, or the equivalent of $1, at his campaign website.

Suarez’s view on CBDCs

Suarez, who is known to advocate for Bitcoin, has said that he would ban a central bank digital currency (CBDC).  He said that people do not want the federal government to know where they have their money and how much money they have.

Suarez launched the MiamiCoin (MIA) in 2021, which he hoped would be used to pay a recurring Bitcoin stimulus (similar to dividends) to Miami citizens.

The mayor has criticized the current US administration led by Joe Biden. Castigating the government, Suarez said:

“The biggest mistake that this administration has made is they don’t understand crypto so they have gone to a regulated-by-enforcement mechanism as opposed to set the ground rules. You have to be able to classify certain digital products, you have to be able to have certain guidelines and rules that are clear with respect to the custody of assets.”

The post Miami mayor to accept presidential campaign donations in BTC appeared first on CoinJournal.

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$1.6M raised one month into Shiba Memu presale, BitMart listing announced

  • At press time, 53,351,246 SHMU tokens had been sold raising over $1,612,597.
  • SHMU price which rises every few hours had just risen from 0.017875 USDT to 0.018100 USDT.
  • Shiba Memu has today announced the listing of its SHMU token on the BitMart crypto exchange.

Shiba Memu, a bustling new AI-powered cryptocurrency meme coin, has announced the listing of its native token SHMU on BirtMart. The project is currently conducting a presale of the SHMU token which has already surpassed $1.6 million one month after the presale started.

The meme coin project has attracted quite a sensation among crypto investors as it rides the artificial intelligence (AI) and meme coin hype.

SHMU listing on BitMart

BitMart has been a significant player in the cryptocurrency industry since 2017. It provides over 1500 cryptocurrency trading pairs.

The choice of BitMart as its first centralized cryptocurrency exchange where SHMU will be listed has certainly caused a sensation among SHMU holders who will now be able to trade the new meme coin after purchasing it in the presale. In addition, more investors will certainly flock to the Shiba Memu presale for fear of being left out when the presale comes to an end.

The realistic idea and endearing Shiba Memu mascot have sparked a wave of interest from investors and cryptocurrency enthusiasts who understand the project’s long-term potential.

In addition, the team behind the project expertly developed a smart contract that ensures that the scheduled SHMU price increase every 24 hours. This alluring mechanism is especially alluring to fans of presales because it ensures that the token purchase price will always be less than the final listing price on the exchange. Better still, investors are optimistic that the token price will see a considerable price surge once it list on the crypto exchange.

Should you invest in Shiba Memu today?

While making an investment move is a preserve of an investor, investing in a cryptocurrency project carries significant risks owing to the volatile nature of the cryptocurrency market. Nevertheless, many people have reaped big from new crypto projects, especially meme coin projects which are known to go viral immediately after they are launched.

That said, Shiba Memu is a unique meme coin project that leverages the power of AI and blockchain technology to create an unstoppable, entirely self-sufficient marketing powerhouse. The project sets itself apart from the like of Shiba Inu, PEPE, Dogecoin, and KEKE, which became popular purely because of their community engagements without any real-world use case apart from acceptance as payment options in several retail outlets.

The listing on BitMart is also quite a good proposition seeing that it adds to the credibility of the project which is barely a month old since its presale went live. If interested in the Shiba Memu project, you can purchase the SHMU tokens here.

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