Kategorie: Crypto News

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Zilliqa partners eSports platform XBorg to accelerate Web3 gaming

Zilliqa, the highly scalable layer-1 blockchain protocol, is partnering Esports 3.0 firm XBorg in an effort to accelerate the blockchain platform’s Web3 gaming ecosystem.

According to a press release sent to CoinJournal on Tuesday, the partnership with the gaming arm of Swissborg will help Zilliqa get feedback from XBorg players and use it to develop its gaming ecosystem. 

The two firms seek to achieve this via beta versions of Zilliqa-based games, with success set to aid the overall game adoption.

“Games are defined by the strength, size, and support of their communities. What we’re looking to do through our partnership with XBorg is to take a collaborative approach to the development of Zilliqa’s gaming ecosystem,” said Matt Dyer, the blockchain platform’s Chief of Staff.

Giving Zilliqa games more visibility

Zilliqa was created in 2017, with a token sale taking place in January 2018 and its mainnet went live in 2019.

Since its launch, over 40 million transactions have been processed on the mainnet and growth over the past three years has seen more than 250 decentralised applications (dApps) launched.This partnership could help its gaming product gain more visibility.

”Every element of this partnership will extend the visibility of Zilliqa’s games to entirely new audiences and communities that we would otherwise not be able to reach,” Dyer noted.

Zilliqa games will benefit from promotional campaigns across XBorg’s community of ambassadors, esports partners and influences, increasing exposure. The companies will also look to co-market games, with more focus on Zilliqa games’ skill-to-earn model boosting the broader Web3 gaming.

Louis Regis, the founder and CEO of XBorg elaborated that the partnership gives XBorg an opportunity to help top blockchain games via access to key elements such as tournaments and professional esport teams. XBorg will also apply its technical and human expertise on efforts aimed as boosting upcoming competitive titles on Zilliqa. 

According to Regis, the collaboration will also be key to the gaming provider’s quest to expand its Gaming Digital Identity offering within the Zilliqa ecosystem.

The post Zilliqa partners eSports platform XBorg to accelerate Web3 gaming appeared first on CoinJournal.

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Icebreaker Finance launches $300 million fund for bitcoin miners

  • Icebreaker Finance will offer fully collateralised loans to blue-chip mining companies.
  • Loan periods are of 12-18 months and interest rates of 15-20%.
  • The fund is open to miners in North America, Canada and Australia, the company announced on Tuesday.

Icebreaker Finance, an Australian-founded firm that’s seeking to leverage blockchain technology to improve capital markets, has unveiled a $300 million fund on DeFi platform Maple to help finance bitcoin miners.

The fund will target secured debt financing towards the leading bitcoin mining companies – both public and private – across North America, Canada and Australia, the firm said.

Icebreaker’s move comes at a time many BTC mining firms have struggled amid the crypto winter and rising electricity costs, with some opting to sell their mined coins to meet cash obligations.

“Recent market headwinds have caused lenders to pull back, while traditional financing vehicles have been slower to engage this sector. Miners play an essential role in growing the crypto ecosystem and local economies, and we are proud to extend a new financing vehicle to direct capital where it is needed the most,” said Sidney Powell, CEO and Co-Founder of Maple Finance. 

Collateralised loans to blue-chip miners

As Icebreaker Finance notes in its announcement, miners can now access 12-18 month loans at interest rates of about 15-20% to boost their operations.

Offered to blue-chip Bitcoin miners, the loans will be handled on a first-priority basis, with Icebreaker evaluating each need based on a miner’s balance sheet strength, treasury, financial performance, and operational efficiency among other factors.

Collateral will be both by real-world assets and digital assets, with the former requirement involving mining rigs and power transformers among other infrastructure assets. 

Recourse will be on the borrower, Icebreaker noted in its blog post, with company’s founder and CEO Glyn Jones commenting on this by noting:

“The market is now maturing to appreciate that non-recourse SPV ASIC backed financing can be inappropriate given the volatility in value of ASICs. Instead, a more diverse security package is required.  Maple’s out-of-the-box, on-chain lending toolkit enables us to align incentives of lenders and borrowers to execute loans on-chain with terms that reflect the emerging nature of the industry more efficiently than we could elsewhere.”

The post Icebreaker Finance launches $300 million fund for bitcoin miners appeared first on CoinJournal.

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Cake DeFi launches EARN for conservative crypto investors

Cake DeFi says EARN offers daily rewards with up to 10% APY, while users benefit from complete transparency.

Cake DeFi, a Singapore-based decentralised finance (DeFi) company seeking to bring crypto opportunities to the masses, has formally launched an investment product that will see customers access competitive returns on their assets while enjoying protection against market volatility.

The platform first introduced EARN on 12 September.

Cake DeFi’s EARN to “address market needs”

As noted EARN is a hybrid product that offers “a single-sided liquidity mining service” that should see an increasingly risk-averse market not worry about returns, liquidity or risk of insolvency as recently observed over the crypto winter.

With many centralised finance (CeFi) platforms hitting bankruptcy among other troubles recently, users are turning to projects such as Cake DeFi’s centralised decentralised finance (CeDeFi) platform. 

The market is also benefiting from a hybrid approach where providers are offering access to both liquidity mining and crypto lending – combining high yields with the latter’s low volatility to help consumers.

“Our latest product EARN was launched to address today’s market needs. With the crypto winter settling in, investors have become increasingly risk-averse, especially since many Centralised Finance (CeFi) platforms have become insolvent or are facing liquidity issues. As a Centralised Decentralised Finance (CeDeFi) platform, our business is to provide our users with good yields on their crypto investments with complete transparency,” said Dr. Julian Hosp, Co-Founder and CEO of Cake DeFi.

What else makes Cake DeFi Earn different?

According to Cake DeFi, EARN will offer users access to rewards with up to 10% APY, either for Bitcoin (BTC) or DeFiChain (DFI) – you allocate one asset and receive rewards in the native coin. EARN also offers autocompounding of returns to allow users to benefit from even greater yields. 

As well as using on-chain tools to track their investment’s performance, customers are assured of protection against impermanent loss. This option is available via the Volatility Protection feature, the firm announced.

Cake DeFi is announcing the EARN feature on the back of stellar growth during Q2, the fintech platform’s strongest quarter of 2022. This was reflected in the platform’s Transparency Report, with numbers for customer growth, payouts and funded accounts all showing massive upticks.

The post Cake DeFi launches EARN for conservative crypto investors appeared first on CoinJournal.

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MicroStrategy buys extra 301 bitcoins for $6 million

MicroStrategy continues to solidify its position as one of the leading institutions in the crypto space after purchasing over 300 bitcoins earlier today.

Software firm MicroStrategy announced on Tuesday, September 20th, that it has bought 301 bitcoins.

The company made this move as the leading cryptocurrency has been underperforming in recent weeks. Bitcoin has dropped below the $20k mark in the last few days, and MicroStrategy has taken advantage of this to increase its position in the market.

MicroStrategy’s chairman, Michael Saylor, announced this latest development via Twitter an hour ago. According to Saylor, MicroStrategy bought the 301 bitcoins for $6 million, at an average price of $19,851 per Bitcoin. 

Following this latest development, MicroStrategy now holds 130,000 bitcoins. The company said it acquired the 130,000 bitcoins for $3.98 billion, at an average of $30,639 per Bitcoin.

By owning 130,000 bitcoins, MicroStrategy now holds 0.62% of all the Bitcoin that would ever be mined. 

According to the Securities and Exchange Commission filing, MicroStrategy bought the bitcoins with excess cash.

Michael Saylor recently stepped down as CEO of the company after years at the helm. By assuming the role of executive chairman, Saylor wanted to focus on buying more bitcoins. 

Saylor has also come under pressure in recent weeks, with the United States government taking aim at the billionaire in a tax evasion lawsuit. 

The former MicroStrategy CEO has made his admiration for Bitcoin public on numerous occasions. As a result, he purchased thousands of bitcoins for the software development company. 

Bitcoin has been underperforming in recent weeks. The leading cryptocurrency went past the $19k mark earlier today but is now trading around $18,800 per coin.

Bitcoin reached an all-time high of $69k in November 2021. However, it has lost more than 60% of its value since then and is now trading below $20k per coin.

The post MicroStrategy buys extra 301 bitcoins for $6 million appeared first on CoinJournal.

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Should You Buy the Ethereum Dip?

Ethereum price has come under intense pressure in 2022 as investors focus on multiple factors. It has fallen by more than 56% this year and by 68% from the highest level in 2021. Its market cap has crashed from an all-time high of over $600 billion to about $190 billion. So, is it safe to buy the ETH dip?

Why has Ethereum crashed?

There are several reasons why Ethereum price has dropped sharply this year. First, macro conditions have changed around the world, leading to fears of a steep recession. For example, inflation has surged to a multi-decade high in most countries while a war in Ukraine is ongoing. Historically, risky assets tend to underperform in a period of shifting macro events.

Second, the Federal Reserve and other key central banks like the European Central Bank (ECB) and the Bank of England (BoE) have all shifted their tones and executed severe rate hikes. In the US, the Fed has delivered several rate hikes and pushed the headline rate up by 225 basis points. It has also hinted that it will continue hiking and implementing quantitative tightening (QT) in the coming months.

Third, internally, Ethereum and other smart contract platforms have been under pressure as key industries struggle. For example, Ethereum’s total value locked in DeFi has dropped from over $75 billion to just $32 billion. The total volume of non-fungible tokens (NFT) traded in Ethereum has also dropped. 

There are other reasons why Ethereum price has continued falling. For example, the lack of fiscal stimulus and the collapse of Terra, Celsius, and Voyager Digital had an impact on cryptocurrency prices. So, is it safe to buy Ethereum dip?

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Ethereum price prediction

The daily chart shows that ETH price crashed to a low of $885 in June of this year. This was a remarkable crash considering that the coin was flirting with $5,000 a few months ago. Now, the coin has staged a brief recovery and moved to the 50-day and 100-day moving averages.

At the same time, the Awesome Oscillator has moved slightly above the neutral point. The price is slightly below the 23.6% Fibonacci Retracement level. 

Therefore, at this stage, it is too early to recommend buying the dip. Instead, traders should wait until Ethereum moves above the two moving averages and create a bullish trend. Besides, there is a likelihood that the recent rebound is part of a bear market rally.

The post Should You Buy the Ethereum Dip? appeared first on CoinJournal.