Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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The HBAR Foundation backs MMO games developer Vavel Games’ launch on Hedera

Valverse is Vavel Games’ first foray into the world of Web3 and the metaverse.

The HBAR Foundation, the organization that seeks to accelerate the development of the Hedera ecosystem through grants to projects, has announced backing for a new gaming developer to bring next-gen MMO games to the platform.

In a blog announcement published on Thursday, the HBAR Foundation said it had added Vavel Games, a leading developer of MMO games to its list of projects to receive a grant.  

The support is the first HBAR Foundation has advanced to a gaming company and will see Vavel Games launch its metaverse project on the Hedera network.

https://mobile.twitter.com/HBAR_foundation/status/1529810185237110784

Vavelverse to integrate NFTs

Dubbed Vavelverse, the venture will provide a multiverse of cross-integrated virtual worlds, opening Vavel Games to a new realm in Web3. The project will be powered by Hedera Hashgraph, the HBAR Foundation noted in the blog.

The first MMO title in the Vavelverse will be Imperium: Galactic War 3.0 and will incorporate NFTs to bring even more benefits to users on Hedera. 

The gaming studio’s first NFT drop is planned for early June (the first week), while the Galactic War 3.0 full game launch is expected in early 2023.

The post The HBAR Foundation backs MMO games developer Vavel Games’ launch on Hedera appeared first on CoinJournal.

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Ethereum (ETH) price drops 5% on stability doubts as its POS merge approaches

Ethereum (ETH) price has experienced a sharp drop as stability doubts immerge as Ethereum blockchain proof-of-stake (PoS) merge approaches.

At the time of writing, ETH was trading at $1,853.44, down 5.78% after pulling back from a daily high of $1,976.57. 

The Ethereum Beacon chain that was to introduce PoS into the blockchain went through a 7-block deep reorganization in the past 24 hours.

Block reorganization happens when there is an inconsistency in the order of blocks which mainly happens as a result of malicious activities or a bug.

The block reorganization in the Ethereum was a result of a bug that showed that the Ethereum shift to PoS might not be stable as advocated by Vitalik Buterin, the Ethereum co-founder.

Ethereum stability doubt

Although the recent reorganization was limited, the Ethereum developers are still trying to establish the cause, so far, they confirmed that the blockchain was not attacked.

Gnosis founder, Martin Koppelmann, noted that Buterin might have been too optimistic that the reorganization stability will improve if Ethereum will shift to PoS.

Koppelmann said:

‘’We have not seen 7 block reorgs on Ethereum mainnet in years.’’

However, he complimented the Ethereum community for acting so fast on finding the cause and the solution to this issue.

Besides, the blockchain shift PoS is anticipated to happen this year in order to increase blockchain accessibility. Buterin expects the shift to take place by August 2022.

The future of Ethereum markets

With the expiry of some option contracts happening this week, the Ethereum futures market seems to be on shaky ground. 

In the last 12 hours, the token has experienced a sizeable amount of liquidations, about $118 million which is twice that of Bitcoin. Almost 97% of these were long positions which shows that traders were ready for the Ethereum recovery.

However, the expected recovery has not yet happened since ETH has been lagging in the crypto market. Its losses were sparked after the Federal Reserve meeting that showed that some Central bank officials suggested further interest rate hikes this year

The post Ethereum (ETH) price drops 5% on stability doubts as its POS merge approaches appeared first on CoinJournal.

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Ankr price prediction as the protocol boosts partnerships

The Ankr price made a bearish breakout on Thursday even after the company partnered with Pocket Network. The token is trading at $0.0357, which was about 83% below its all-time high of $0.2142. 

Ankr continues its partnerships

Ankr is a leading blockchain project that specializes in Remote Procedure Call (RPC) services that are needed by most developers. According to the developers, the platform handles over 150 billion RPCs every month as more developers embrace it.

In the past few months, the network has been focused on growing through partnering with other forward-looking companies in the industry. 

For example, in the past six months, the developers have partnered with companies like Near Protocol, IoTeX, Polygon, Solana, Celo, Fantom, and Avalanche, among others.

Last week, the developers inked another partnership deal with Tron, one of the fastest-growing platforms in the industry.

On Thursday, the developers announced that it had partnered with Pocket Network. The partnership will see the Pocket Network node runners earn revenue by supplying nodes to the Ankr Protocol network. The statement said:

“Bringing Pocket onto the Ankr Protocol marks a new era of coverage and decentralization for Ankr and our clients. We love what Pocket has started and the passionate community they’ve fostered.”

Therefore, these partnerships will likely lead to more network activity in Ankr Network, which will help push its price higher. 

Ankr price prediction

The daily chart shows that the Ankr price has been in a strong bearish trend in the past few months. This drop culminated in the drop below the key support level at $0.0505, which was the lowest level on February 25th, The coin has dropped below the 25-day and 50-day moving averages.

At the same time, it has fallen below the descending trendline that is shown in blue. It has also formed a bearish flag pattern. Therefore, the coin will likely keep falling as bears target the key support level at $0.02. 

The post Ankr price prediction as the protocol boosts partnerships appeared first on CoinJournal.

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Tether launches a new stablecoin dubbed MXNT that is pegged to the Mexican peso

Tether has launched a new stablecoin that will be pegged on the Mexican Peso as the stablecoin blockchain makes its debut in Latin America.

In said in a statement, Paolo Ardoino, the CTO of Tether, said:

“We have seen a rise in cryptocurrency usage in Latin America over the last year that has made it apparent that we need to expand our offerings. Introducing a Peso-pegged stablecoin will provide a store of value for those in the emerging markets and in particular Mexico.”

While launching the stablecoin today, Tether said that the new stablecoin dubbed MXNT will initially be available on Ethereum, Polygon, and Tron.

The MXNT is the fourth fist-pegged stablecoin to be launched by Tether so far. The rest of the fiat-pegged stablecoins that have been launched by Tether include the famous USDT (pegged on the US Dollar), the EURT (pegged on the Euro), and the CNHT (pegged on the offshore Chinese Yuan).

Tether’s expansion into Latin America

Tether said that the launch of the new stablecoin will act as a testing ground for onboarding new users in Latin America. The MXNT is expected to pave the way for more fiat pegged stablecoin in the region.

Of the four stablecoins launched by Tether, the USDT remains the most popular and has recently seen massive adoption by investors as crypto investors tend to incline more towards fiat-pegged stablecoins following TerraUSD (UST), which is an algorithmic stablecoin, debacle. The UST meltdown caused panic among investors with algorithmic stablecoins.

The current USDT supply stands at about 77 billion and it remains the largest stablecoin in the world.

The post Tether launches a new stablecoin dubbed MXNT that is pegged to the Mexican peso appeared first on CoinJournal.

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The Sandbox (SAND) rallies on news of Elvis Presley NFTs mint

The price of Sandbox (SAND) is rallying after The Sandbox metaverse platform announced its partnership with Elvis-On-Chain to introduce the ‘King’ of rock and roll NFTs into the virtual world. 

The native token of The Sandbox, SAND, has rallied by over 5% after reaching an intraday high of $1.51 before retracing back to $1.34, up 5.29%.

SAND has been trending against the currents of the ongoing market crash by rallying by 11.9% over the past week after SAND acquired Cualit, an Uruguayan tech firm.

Besides The Sandbox, the other Elvis-On-Chain partners include Elvis Presley enterprises and Web3 studio Run it Wild which came up with the project earlier this year. On the other hand, the other partners of The Sandbox include Voxel Architects, Dappraft, Decentraland, and Metakey.

Elvis-On-Chain Metaverse

For Elvis Presley’s birthday celebration, 1,935 Elvis Genesis Key NFTs that are to be used by holders when entering the Elvis-On-Chain Metaverse that is expected to launch on June 1.

The Sandbox and its partners at Voxel Architects are working on developing avatars that will be used by Elvis fans in the new Elvis world.

Avatars users can become ‘The King’ in several formats in the new world where they can trade digital collectibles and interact with others.

Adam De Cata, Run It Wild Director said:

“These incredible partners, all leaders in the craft, help us build a one-of-a-kind meeting place for Elvis fans. The Elvis metaverse will host an array of ground-breaking experiences, generative collections, a showcase of rare concerts, fan experiences, and real events.”

Adding to Cata’s comment, The Sandbox COO and co-founder, Sébastien Borget said:

“We want to empower his fans to express themselves and become their very own Elvis, creating an exciting way to experience his likeness across generations and keep him forever in the limelight thanks to technology.”

After the Genesis mint, an Elvis party will be held on Decentraland. This will be a Guinness World Record attempt for the greatest Elvis impersonators in one place in the Metaverse.

During the event, the attendants will be able to put on Elvis’s wearables like his styled wig and jumpsuit. Additionally, the Elvis Genesis Key NFTs holders will be given licensed Decentraland wearables.

Other ‘The Sandbox’ news

Virtual lands in the neighborhood of Mega-City in The Sandbox metaverse have also been purchased by two CMT companies; the PCCW and the HKT.

Mega-City is a virtual cultural hub in Hong Kong within The Sandbox metaverse that recently introduced its second stage.

The PCCW and HKT companies are set to bring the first-ever 5G virtual mobile network within The Sandbox metaverse and transform the conventional music, film, and TV content within the Web3.0 space.

PCCW and HKT are also expected to launch the next-gen financial and health technologies and e-commerce solutions that will revolutionize the metaverse industry backed by the 5G network.

The post The Sandbox (SAND) rallies on news of Elvis Presley NFTs mint appeared first on CoinJournal.