Schlagwort: blockchain analysis

Crypto investors are rushing into the Metacade beta stage presale to buy tokens at their lowest price. The world’s first play-to-earn arcade Metacade opened its presale with 1 MCADE token for $0.008. The blockchain gaming newcomer has received an electric welcome from the crypto community with over $933k worth of MCADE tokens sold in the beta stage in under 18 days

Once the beta stage closes the MCADE price will rise to $0.01 per token – a 25 percent increase. By the end of the presale, the token price will have increased by over 2.5x to $0.02 per MCADE.

As of writing, a phenomenal $933k has already been poured into the project since the Metacade presale opened. There are only 12 percent of tokens left before stage one begins, so it’s crucial to purchase MCADE tokens now before the price leaps. 

What is Metacade? 

Metacade is the next big thing in the metaverse and P2E gaming. The platform will be home to a tremendous array of arcade-style games where players can earn, compete and connect with fellow gamers. 

Metacade will also be home to the hottest gaming alpha and reviews, leaderboards of what’s trending on the platform and across the GameFi space, and a hub where users can chat in real time with like-minded gamers.  

Metacade isn’t just for hardcore gamers: the platform offers something for everyone. Investors can stake MCADE tokens to earn rewards. Entrepreneurs and developers can build games on the platform, supported by a funding initiative known as Metagrants. Job seekers can find their new roles in Web3.  

The community-driven blockchain gaming platform will take the GameFi platform by storm with its huge array of Web3-forward features that allow players to truly take control of their gaming experience, leaving traditional gaming far behind. 

The platform’s ultimate goal is to build a platform that gamers want and allow its community to shape the future of gaming and earn as they do so. Ultimately, Metacade will transition into a DAO, allowing the dedicated community to fully control and continue building the platform they love. 

How to buy $MCADE tokens 

MCADE tokens can be purchased on Metacade.co. Here are some easy steps to get your hands on your Metacade tokens before the token hits the major exchanges and the price shoots up. 

STEP 1 

Set up a crypto wallet. Metacade is built on the Ethereum blockchain, so ensure that you have a wallet that is compatible with ETH. The wallets supported by Wallet Connect are suitable. The Metacade team recommends Metamask for a smooth buy experience. 

STEP 2 

Get some crypto. Metacade can be purchased with ETH and USDT, so ensure you have enough of one of these currencies in your wallet before buying MCADE. 

STEP 3 

Connect your wallet to the Metacade website and access the DEX. You’ll be given the option to swap your ETH for $MCADE. Enter the amount you’d like to purchase and click “buy”. 

Here are some further details on how to purchase $MCADE.

Metacade presale is off to a flying start 

With beta presale tokens selling fast, there’s never been a better time to get in on a phenomenal GameFi project on the ground floor. 

Find out more on Metacade.co.

The post Over $933k Tokens Sold In Metacade’s Beta Presale, only 12% remaining before it sells out appeared first on CoinJournal.

• Bonfida turned 2 years this week.

• The volume of Solana Name Service (SNB) purchases has risen.

Bonfida price rose slightly as investors bet on a rebound of Solana’s ecosystem. FIDA rose to a high of $0.45, the highest point since November 28. It remains a few points below the November 21 high of $0.98.

Bonfida turns 2 amid a cloud of uncertainty

Bonfida is a blockchain project in Solana’s ecosystem. It provides solutions like the Solana Name Service (SNS) and Jaber. Solana Name Service is similar to Ethereum Name Service. It makes it possible for users to create a human-readable by replacing a decentralized address with a domain name of your choice.

Bonfida also runs Jabber, a mobile application for decentralized and encrypted messaging on Solana. 

Most importantly, Bonfida worked with Serum, one of the most important Decentralized Finance (DeFi) platforms in Solana. Until its collapse in November, Serum had millions of dollars in total value locked (TVL).

Serum was created by a team that included FTX. And unlike other decentralized autonomous organizations (DAO), Serum’s private key was not held by the DAO. Instead, it was held by FTX, which is not ideal, following the recent news. Therefore, as FTX collapsed, Serum holders exited, as I wrote in this article.

Now, the Serum community is working to rebuild its platform. The new platform is known as OpenBook and has a TVL of about $2 million. 

Bonfida turned two years this week amid concerns about its future. A key shining part of Bonfida is that the volume of domains sold has been rising in the past few days. This explains why FIDA went parabolic this week.

The next key catalyst for the FIDA price will be the upcoming interest rate decision by the Federal Reserve. Economists believe that the Fed will continue hiking interest rates albeit at a slower pace.

Bonfida price prediction

FIDAUSD chart by TradingView

The daily chart shows that the FIDA price remained in a consolidation phase this week. Its daily trading volume has dropped sharply. At the same time, the coin is hovering at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved below the neutral point. 

The price is also slightly above the important resistance level at $0.27, the lowest point in June this year. Therefore, I suspect that the token will show some volatility after the Fed decision on Wednesday. A bullish breakout will see it rise to about $0.58. A drop below the support at $0.27 will signal that bears have prevailed.

How to buy Bonfida

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.

Buy FIDA with Binance today

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.

Buy FIDA with Swapzone today

The post Is it safe to buy Bonfida (FIDA) today? appeared first on CoinJournal.

• FTX Token still has a market value of over $450 million.

• Tribe and FEI ceased operations a few months ago.

• Celsius Network is still going through bankruptcy.

Cryptocurrency prices remain under intense pressure this month as the FTX implosion continued. Bitcoin remained at $17,800 while the total market cap of all digital coins remains at about $850 billion. With cryptocurrencies being too cheap, it is possible to be attracted to buy the dip. Here are some of the most useless cryptos to avoid at all cost.

Tribe | $TRIBE

First on this list is Tribe, a token that has a market cap of more than $105 million, according to data by CoinMarketCap. Tribe is a useless crypto to invest because Tribe DAO and Fei Protocol ceased development a few months ago. They recommended that holders in Tribe DAO-related contracts should withdraw them after the Rari hack that we wrote on here.

FEI, the network’s stablecoin is still trading and has maintained its peg at $1. It has a market cap of over $400 million. Therefore, with Tribe DAO not being under development, it is not recommended to invest in it since it lacks any utility.

How to buy Tribe

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.

Buy TRIBE with Binance today

KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy TRIBE with KuCoin today

FTX Token | $FTT

FTX Token is another useless crypto to invest in. As you are aware, FTX was the official token for the FTX ecosystem. Unlike other exchange tokens like BNB and CRO, it did not have any utility other than offering staking rewards to holders.

Now, FTX has collapsed and its founder is facing decades in prison. Activity within FTX has died as the company navigates bankruptcy proceedings. Still, despite all this, FTT is still valued at over $450 million. 

There are other reasons why FTT is not a good investment. First, unlike Voyager Digital, it is unlikely that the company will be acquired out of bankruptcy. Second, it serves no utility right now. Finally, it is a hyperinflationary token since 100% of FTT have been unblocked. Therefore, it is relatively difficult to recommend to buy FTX.

Celsius | $CEL

Celsius is another useless crypto to avoid. According to CoinMarketCap, it has a market value of over $140 million despite the collapse of Celsius. It remains about 213% above the lowest level this year. 

Celsius, like FTX Token, was used to provide incentives for borrowers and lenders in its ecosystem. Holders also received discounts in its platform. 

Celsius is currently going through bankruptcy in the US. Just last week, the judge overseeing the case ordered the company to pay $44 million to customers. In the end, it is unclear whether Celsius will be acquired from bankruptcy. As such, CEL is still a useless, low-volume token to invest in.

How to buy CEL

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy CEL with OKX today Disclaimer

Bitfinex

Bitfinex is a bitcoin exchange platform that provides advanced services for digital currency traders and liquidity providers.

Buy CEL with Bitfinex today

The post Top useless cryptocurrencies to avoid at all cost appeared first on CoinJournal.

• Crypto exchange Coinbase now supports the native trading of USDC on Avalanche.

• AVAX is the best performer amongst the top 20 cryptocurrencies by market cap today.

• The broader market has recovered after a poor start to the week.

Coinbase supports USDC trading on Avalanche

Coinbase, one of the leading crypto exchanges in the world, announced on Monday, that it had launched the ability to trade native USDC (USDC) on Avalanche. This means that the USDC stablecoin on Coinbase will now be available on Avalanche.

We’ve launched the ability to trade native USDC (USDC) on Avalanche. One of the most trusted and reputable digital dollars is now more flexible than ever. Keep an eye out for additional multi-chain availability. Note: deposits of USDC.e are not supported at this time. pic.twitter.com/W0vSGMRNac

— Coinbase Assets (@CoinbaseAssets) December 12, 2022

This latest cryptocurrency news has seen AVAX, the native token of the Avalanche network, become the best performer amongst the top 20 cryptocurrencies by market cap. At press time, the price of Avalanche stands at $13.81, up by more than 8% in the last 24 hours.

The broader crypto market has also recovered from the slump suffered yesterday. The total crypto market cap now stands at $872 billion, up by more than 3.5% in the past 24 hours.

Bitcoin and Ether have been performing well, and are up by 5% and 6%, respectively, so far today.

Key levels to watch

The AVAX/USD 4-hour chart is turning bullish as Avalanche has been performing well in the last couple of hours. The technical indicators show that it could soon turn bullish as the market recovery continues.

The MACD line is closing in on the positive territory, indicating that the bulls are taking charge of the AVAX market. The 14-day RSI of 67 also shows that AVAX could soon enter the overbought region if the rally continues. AVAX could move past the first major resistance level at $15.22 over the next few hours.

In the event of an extended rally, AVAX could make a move toward the $17.43 resistance level for the first time in a month. However, it would need the help of the broader crypto market to make an attempt for the $20 psychological level in the near term. 

Where to buy Avalanche now

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.

Buy AVAX with eToro today Disclaimer

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy AVAX with OKX today Disclaimer

The post Coinbase launches USDC trading on Avalanche – AVAX is up by 8% today appeared first on CoinJournal.

Key Takeaways

• Sam Bankman-Fried has been arrested in the Bahamas and faces extradition to US
• Alameda CEO Caroline Ellison was reportedly spotted in New York
• Former CEO Sam Trabucco resigned in August and has largely avoided the same levels of scrutiny as the other two

 

Oh, Sam.

Disgraced FTX founder Sam Bankman-Fried was arrested Monday by the Bahamas Police Force, after the US filed criminal charges against him. The Bahamas have stated that it expects US also to request extradition imminently.

“As a result of the notification received and the material provided therewith, it was deemed appropriate for the Attorney General to seek SBF’s arrest and hold him in custody pursuant to our nation’s Extradition Act,” the statement, attributed to Attorney General Ryan Pinder, said.

Charges against Bankman-Fried reportedly include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. The charges could land Bankman-Fried decades in jail. Whoops.

What happens next?

That’s a funky selection of charges, revealing Bankman-Fried really did do it all.

He was meant to testify before the House Financial Services Committee at 10AM EST today on hearing about the FTX crash. That is no longer the case, instead, Bankman-Fried will appear in Magistrate Court in Nassau, Bahamas.

Once Bankman-Fried gets back on American soil, a trial won’t happen anytime soon. This is a crime of historic scale across myriad jurisdictions, and the case will take a lot of time.

The SEC also made separate charges that Bankman-Freid defrauded investors.

We allege that Sam Bankman-Fried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,” said SEC Chair Gary Gensler. “The alleged fraud committed by Mr. Bankman-Fried is a clarion call to crypto platforms that they need to come into compliance with our laws.”

What happens Caroline Ellison?

The elephant in the room is what happens to Alameda CEO Caroline Ellison. Alameda is the trading firm also founded by Bankman-Fried, and where customer funds on FTX were sent to in order to shore up large trading losses.

Ellison was thought to have been in Hong Kong at the time of the arrest, but she may have been spotted at a café in Manhattan, meaning she is already on US soil.

PLEASE CONFIRM: A user claims that they spotted Caroline Ellison at Ground Support Coffee on West Broad in SoHo Manhattan at 8:15 AM. This would mean she is not in Hong Kong and is in NY not in custody. pic.twitter.com/QUduYO9GfZ

— Autism Capital 🧩 (@AutismCapital) December 4, 2022

This sparked speculation that a plea deal may have been reached, although that is all speculation. 

Bankman-Fried has repeatedly denied that he had full oversight over all operations, contesting that he “wasn’t running Alameda” and “he didn’t know the size of their position”. 

This suggests that Bankman-Fried is throwing Ellison, his former girlfriend, under the bus. Ellison has not tweeted since November 9^th, with radio silence since the bankruptcy.

She had previously tweeted on November 6^th to Binance CEO Zhao, attempting to buy the collapsing FTT tokens – the low liquidity native token of the FTX exchange that was artificially propping up the whole ecosystem – from Zhao at $22 per share (Zhao himself is also facing criminal charges relating to a separate case).

Time will tell what happens to Ellison, but it seems almost impossible to believe that both Bankman-Fried and Ellison were not aware of what was happening at both their companies, given the size of the damage – $8 billion. That and the fact that that, you know, they were both CEOs of the respective entities.

What about Sam Trabucco?

Then there is the case of Sam Trabucco.

Trabucco is the former co-CEO of Alameda, alongside Ellison. His timing was, how should I say this, interesting. He announced his retirement less than three months before the house of cards collapsed, when Ellison became the sole CEO.

In an infamous tweet thread, he cited increasing work hours and a change of priorities for stepping down.

“I’ve reached a point in my life where I want other things. What other things? I’m not really sure, exactly. Lately I’ve been really happy, spending a lot of time travelling, visiting friends and family, working on ‘myself’ and whatnot. Also I bought a boat, that’s been cool”.

I’m not sure why Trabucco is not facing scrutiny. The LUNA death spiral of May is supposedly what triggered a lot of the losses for Alameda that led to the commingling of funds from FTX. It was three months after this collapse, in August, that Trabucco resigned. As CEO, he must have known what was going on, yet is largely escaping scrutiny.

He also has gone silent since the bankruptcy, his final tweet from November 8^th wishing that the “road ahead is brighter”.

Much love to everyone — I’m sure the past few days have been dark for many and I hope the road ahead is brighter.

— Sam Trabucco (@AlamedaTrabucco) November 8, 2022

He was also revealed to have purchased two properties worth $8.7 million in all cash last year. This is in addition to the yacht purchase mentioned above, which he reportedly hired a freelancer on Fiverr to design the logo for (he named it “Soak my Deck” apparently).  

So let us not forget that he is a key figure in all this.

Final thoughts

There will likely be more twists in the tale, but now that one of the three top execs are arrested, I am curious to see what will happen the other two.

Bankman-Fried’s trial likely won’t start for quite a while, and the whole thing won’t be resolved for years. As for the other two, all bets are off, but I would be surprised if they don’t receive a knock on their doors anytime soon.

What a complete mess, and a sad story for the entire industry.

The post Bankman-Fried arrested, what happens now? And where are Caroline Ellison and Sam Trabucco? appeared first on CoinJournal.