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.

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Crypto price predictions: Dogecoin, XRP, Casper Network

Cryptocurrency prices went nowhere this week as focus remained on the happenings in the United States, where data revealed that the economy was weakening. Bitcoin price remained in a consolidation phase even as the US dollar index (DXY) plunged. Ethereum was a major winner as its price approached $2,000. This coin price prediction will like at key coins like Casper, XRP, and Dogecoin.

Dogecoin price prediction

One of the biggest cryptocurrency news was the decision by Twitter to change its logo into Dogecoin’s logo. The move pushed both DOGE and other meme coin tokens sharply higher as investors pondered the next actions by Elon Musk. 

Dogecoin price soared to a high of $0.10, the highest point since December 5 last year. It then quickly unraveled and has dropped in the past four straight days. During this decline, the token moved below the important resistance level at $1, the highest point on February 4. 

DOGE remains above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the overbought level. Therefore, because of the RSI trend, I suspect that the coin will continue falling during the weekend as sellers target the key support level at $0.07. Still, we can’t rule out a situation where the coin bounces back as investors buy the dip.

How to buy Dogecoin

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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XRP price prediction

The XRP price has done well in the past few weeks as investors observe the Ripple vs SEC case. Expectations are that the case will end soon and that Rippple will prevail. Other analysts believe that the XRP price will do well regardless of how the case ends in the long run.

On the daily chart, we see that the Ripple price jumped to a high of $0.5861 in March, as we wrote here. The coin has now pulled back and retested the important support at $0.4932, the highest point on March 21st. This is known as a break and retest pattern, meaning that the coin will continue rising as buyers attempt to retest the year-to-date high of $0.58.

How to buy Ripple

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.

Buy XRP with Bitstamp today

Casper price prediction

The daily chart shows that the CSPR price has been in a slow bullish trend in the past few weeks. The token has been supported by the risng trendline shown in orange. It has moved above the 25-day and 50-day moving averages while the RSI has moved above the middle line of 50. 

Casper is also approaching the important resistance at $0.04623, the highest point on March 3 and February 7. Therefore, there is a likelihood that the coin will continue rising as buyers target the resistance at $0.046, which is about 12% above the current level.

How to buy Casper

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.

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BKEX

BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.

Buy CSPR with BKEX today

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Metacade Investment Soars to $16.35m As Crypto Bull Run Gains Momentum

Crypto market news has been inundated in recent weeks with the easing of markets as the crypto bull run gains momentum. Nowhere has the improvement in conditions been felt more than in the GameFi sector, which continues to see impressive gains being posted among the big names in the crypto gaming sector.

However, the real crypto market good news story is that of play-to-earn (P2E) virtual gaming arcade, Metacade (MCADE), which exceeded expectations during its recent presale event, which raised $16.35m. MCADE is predicted to post impressive results when listed on leading crypto exchanges Uniswap and Bitmart in April 2023.

Metacade’s comprehensive earning mechanics are unrivaled within the GameFi sector, making it one of the most desirable investment opportunities as the crypto bull run revs up.

Everything you need to know about the MCADE crypto exchange listing

Metacade’s hugely successful token presale has generated enormous momentum among its early-stage investors which looks set to spill into the public consciousness as the token readies itself to be listed on leading crypto exchanges. The MCADE IDO is due to launch this week, with the token listing on UniSwap at $0.022.

This hotly-anticipated P2E platform combines some of the most addictive online gaming experiences to be found anywhere on the blockchain with a wide-ranging crypto rewards system that offers users unrivaled avenues to earn passive income online as they play.

In addition to the UniSwap listing on 6th April, the MCADE token will also be listed on Bitmart in April and MEXC in early May. These upcoming listings could produce ferocious buy action on the token, helping it illustrate its reputation as one of the top-performing new investments of 2023.

As the earliest presale investor got hold of MCADE tokens for the princely sum of $0.008, other investors got on board during the ICO at a higher price due to the speed with which demand spread during the presale event. With every round of the presale selling out entirely, the token’s scarcity upon listing, and the wildly attractive project plan, MACDE looks set to appreciate over the coming weeks and months to unprecedented levels.

How high will MCADE go this year?

The GameFi revolution continues to lead crypto market news headlines as the crypto bull run gains momentum. So Metacade has come at the right time to fully reap enormous dividends. The project has captured the attention of experts eager to see if MCADE can make good on its promise and surge toward the $1 barrier by the end of 2023.

The diverse gaming experience offered by the platform gives it a competitive advantage over other GameFi titles, which primarily rely on a single title or gameplay experience to attract fans. With an overall market cap of $2 billion required to drive MCADE to $1, it has plenty of work to do to achieve this milestone, but it would take a brave soul to bet against it happening.

This price potential is driven by the array of incentives available to drive user retention, particularly outside the traditional P2E sphere. As a result, its comprehensive rewards scheme is set to continually improve the user experience, likely leading to increased demand for MCADE as a utility token, even before it realizes its value as a governance coin.

What is Metacade?

Metacade is set to revolutionize the online gaming space by building the most extensive P2E virtual arcade, positioning itself as a vital member of the burgeoning GameFi sector. Metacade’s ambitious white paper sets out its objectives to build the largest online community of gaming enthusiasts and crypto fans thanks to its innovative rewards system that provides several opportunities for users to gain income, not only through gameplay but via token staking and socially interacting with the community.

The native MCADE token presents investors with an exciting and once-in-a-blue-moon opportunity thanks to its extensive utility, outstanding tokenomics, and fixed limited supply set to push the price of MCADE higher very quickly.

How does MCADE work?

MCADE is the native token of the Metacade ecosystem and is the fuel behind the platform’s various and wide-ranging functions. As well as providing the medium of exchange throughout the platform, MCADE powers the rewards system. This vast level of utility ensures that the demand for tokens will remain consistent as the user base joins the platform, potentially reaching the point where supply is outstripped.

In addition to the high utility offered by MCADE, it also powers one of the platform’s most attractive and innovative features, Metagrants. This scheme allows developers to apply for crypto funding to support the development of new titles exclusively for Metacade. Each submission goes into a pool before being released to the MCADE community for voting. The titles that gain the most votes go into production with the aid of crypto funding to support the ventures.

This contributes to user retention thanks to the regular evolutionary nature of exciting new titles while ensuring members feel fully engaged with the platform’s ongoing development.

Is MCADE a good investment?

As the crypto bull run gathers pace and sets to make headlines in crypto market news, Metacade is brilliantly placed to continue its incredible and exciting journey. Its imminent release on two of the most well-known crypto exchanges could be the first step in MCADE entering orbit thanks to the backing of its innovative P2E ecosystem and impressive vision of the future of crypto gaming.

Metacade has already established itself as a testament to the power of innovation in the Web3 era. It looks set to continue as the project embarks on the next step of its exciting journey to become one of the most profitable crypto investment opportunities of 2023.

You can buy Metacade here.

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1 in every 138 Bitcoins are now owned by MicroStrategy, but it doesn’t make much sense


Key Takeaways

  • MicroStrategy has purchased another thousand Bitcoin, taking their holdings to 140,000 at an average price of $28K
  • The total investment is now $4.2 billion, with the company’s fate tied to the Bitcoin price
  • CEO Saylor remains ultra-bullish, but has no regard for risk management
  • For investors, someone may as well just purchase Bitcoin directly

MicroStrategy is at it again. 

The software company, which is now essentially a Bitcoin-holding company, has purchased another 1,045 Bitcoin. The company now holds 140,000 coins, with Michael Saylor’s now-trademark Twitter post announcing the latest investment to the world Wednesday. 

MicroStrategy’s 140,000 stash of Bitcoins is the largest holding of any public company. It constitutes 0.72% of the entire supply, meaning they own 1 in every 138 Bitcoins currently in circulation. 

A long way to go to Satoshi Nakamoto and his/her approximate stash of 1 million coins (5.2% of the supply), but Saylor is on his way. 

The latest purchase was locked in at average price of $28,016 per Bitcoin, bringing the average price to $29,803, meaning the company is slightly underwater on the $4.17 billion investment.

Michael Saylor doesn’t do risk management

CEO Saylor’s conviction remains unwavering, while his disdain for portfolio diversification is also unchanged. For me, regardless of your thoughts on Bitcoin as an investment, it is difficult to get on board with an investment of this scale. 

The risk is extreme, with the fate of the company now well and truly in the hands of the capricious crypto gods. A look at the share price action shows how tightly correlated it now is with Bitcoin. MicroStrategy shed three-quarters of its value last year as Bitcoin plummeted amid the bear market, but has doubled this year as Bitcoin has bounced back. 

Saylor’s conviction may be admirable, but his risk management not. This is especially pertinent when looking at his rhetoric regarding advising people on what to do with their funds – again, nothing to do with Bitcoin, but the failure to understand the risk tolerance and financial circumstances of everyday people is jarring:

“Take all your money and buy Bitcoin. Then take all your time to figure out how to borrow more money to buy more Bitcoin. Then take all your time to figure out what you can sell to buy Bitcoin. 

And if you absolutely love the thing and don’t want to sell it, go mortgage your house and buy Bitcoin with it. And if you’ve got a business that you love because your family works for the business – if it’s been in the family for 37 years and you can’t bear to sell it – mortgage it, finance it and convert the proceeds into the hardest form of money on earth, which is Bitcoin”

The interview occurred in March 2021. Bitcoin was trading north of $56,000 at the time, approximately double what it is currently. I sincerely hope that nobody listened to his advice of this billionaire and mortgaged their house or business. 

And again, this is not a discussion on the merits or price of Bitcoin. The same logic would hold if Bitcoin was now $200,000 per coin. Not that it needs to be said, but for the record, mortgaging your future and your entire financial well-being on one asset – and especially one as volatile as Bitcoin- is, well, not smart. 

Nonetheless, Saylor is intent on doing this with MicroStrategy. At least that is a little less perilous than betting one’s own personal future. But the reality is that with such a large investment – $4.17 billion! – MicroStrategy is now a Bitcoin holding company. 

For investors, I am not sure what the appeal is here, as one can just buy Bitcoin directly. For Saylor, however, he doesn’t seem to care. He’s all in.

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EOS price is bouncing back: here are the possible reasons

EOS price has bounced back in the past few days as investors focus on the upcoming EVM integration and the potential business deal with Hong Kong. The coin jumped to a high of $1.23, which was higher than last week’s low of $0.90.

EVM launch and Hong Kong

The biggest EOS news was the decision by the developers to integrate Ethereum Virtual Machine (EVM) in the network. EVM is a piece of software that executes smart contracts in Ethereum’s network. It also computes the state of the Ethereum network after each block is added to the chain.

This is important for EOS because it means that dApps developed in its ecosystem will be compatible with those created in Ethereum. Ethereum is the biggest smart contract platform in the world. Therefore, this integration will suit developers and users.

This explains why other leading chains have launched their EVM platforms. In March, popular platforms like IOTA, Zilliqa, Filecoin, and Cardano are working towards integrating the EVM capabilities.

The other main reason why EOS price is rising is a tweet by Yves La Rose, the CEO of the EOS Foundation. In it, he said that he was traveling to Hong Kong for a nine-day business trip. He also hinted that he will speak with officials on how EOS can play a role in the economy. 

The biggest risk for EOS is that its ecosystem is still small despite the fact that the developers raised over $4 billion in their Initial Coin Offering (ICO). Also, competition in the industry has grown, with some of the biggest names being Polkadot and Avalanche.

EOS price forecast

The daily chart shows that the EOS crypto price has been in a strong bullish trend in the past few days. In this period, the coin has moved above the 50-day and 25-day moving averages. The coin has formed a cup and handle pattern, which is usually a bullish signal. It has also formed a rising wedge pattern, which is usually a bearish sign.

Therefore, the outlook of the coin is a bit mixed at this point. A bullish view will only be confirmed if the coin manages to move above the key resistance at $1.3362, thee highest point on March 3. A drop below the support at $1.10 will invalidate the bullish view,

How to buy EOS

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

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