BNB muted despite BNB Chain’s burn of $600M worth of tokens

  • BNB worth more than $600 million have been removed from circulation, Binance announced on Tuesday.
  • This was the 22nd BNB burn, with data showing over 44 million BNB tokens have been cut from the total supply.
  • Binance launched BNB in 2017 with a maximum supply of 200 million and has planned to cut the supply to 100 million.

BNB Chain today completed its 22nd burn event, with the quarterly burn for the first installment in 2022 seeing the blockchain platform remove over 2 million BNB worth more than $500 million.

As announced earlier Tuesday, BNB Chain burned a total of 2,064,494.32 BNB worth approximately $617,696,701. The programed burn occurred at around 0800 UTC on 17 January 2023, with the transaction ID also showing the burn was completed at block height 290943059. The total fee a measly 0.002 BNB.

Despite the BNB burn news, the price of Binance Coin remained muted and mirrored the slowdown across crypto after last weekend’s massive pump.

BNB is up more than 10% in the past week and nearly 25% higher in the past 30 days, having rallied to $314 per token – its highest price level since late November. However, as noted, today’s announcement hasn’t seen a major reaction from BNB holders. 

The token currently trades around $302 with slight gains of 1.3% over the past 24 hours.

BNB Chain to burn 100 million BNB

While the maximum supply of BNB was initially 200 million when the cryptocurrency launched in 2017, an exploit on the BSC Token Hub bridge on 7 October, 2022 impacted total supply and thus affected the Q4 BNB burn. This is because the incident saw the minting of an extra two million BNB, which had then increased the token’s maximum supply to 202 million.

According to data from bnbburn, the circulating supply of BNB currently stands at roughly 157 million. Approximately 44 million coins from the total supply of 202 million has so far been destroyed, almost halfway to the target of removing 100 million BNB from circulation.

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Alchemy Pay (ACH) price forecast after jumping 50% in one day

  • ACH/USD jumped 50% in one trading day
  • A falling wedge pattern supports the bullish case
  • The risk of a false breakout remains

The cryptocurrency market suffered from the FTX scandal as investors fled away in light of yet another scam in the industry. But despite the numerous predictions that the industry will fail, the recent price action is encouraging for speculators.

Take, for instance, Alchemy Pay (ACH). It was the leading cryptocurrency yesterday, as it gained about 50% against the US dollar.

Alchemy Pay is the pioneer of the world’s first payment gateway solution to connect fiat currencies and crypto economies. In short, it aims at building a bridge between crypto and fiat worlds.

With a circulating supply of 4.9 billion, the cryptocurrency’s maximum supply will be 10 billion. At the current market price, Alchemy Pay has a market capitalization close to $60 million, and over 180 billion coins are traded daily.

ACH/USD chart by TradingView

A falling wedge points to more upside, but fears of false breakouts remain

Until recently, ACH/USD traded with a heavy tone – just like the overall cryptocurrency market. But the recent bounce in Bitcoin and other major cryptocurrencies led to small coins catching a bid.

As such, the price action broke out of a falling wedge pattern. Such a pattern signals a reversal; most of the time, the market retraces more than half of the pattern’s distance.

However, it does not mean that the market cannot make a new low.

Therefore, any long trade should have a stop-loss order at the lowest point in the falling wedge, while the take-profit should be placed around half the distance the market traveled on its way lower. In other words, 0.035 should be appropriate.

The fear is that yesterday’s bounce is yet another false breakout. A quick look at what happened in the past shows similar breakouts that turned out to be nothing but false ones as the market reversed and made a new low.

Summing up, if the recent lows hold, ACH/USD has more upside potential.

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GALA crypto price gains steam after new token burn news

  • GALA price has surged by over 250% from the lowest point in December.

  • The developers are working on the Meow NFT Match.

Gala crypto price has been in a strong bullish trend in 2023, making it one of the best-performing cryptocurrencies in the industry. The token surged to a high of $0.054, which was about 250% from its lowest point in December. 

Why Gala token is soaring

There are several reasons why GALA crypto has surged in the past few weeks. First, the developers announced a deal that will see the network partner with The Rock to produce two films. This is notable since The Rock is one of the best-known actors in the industry. He is also known for appearing in some of the top-selling movies. However, as we wrote here, Gala deleted the tweet making the announcement.

Second, Gala developers announced that they will incorporate mobile gaming in their ecosystem. This means that developers will be able to create games that can be downloaded from Android and iOS stores. As a result, they will have a large market considering that there are more than 5 billion smartphone users internationally. 

Third, the most recent reason why Gala has surged is the new introduction of pay by burn approach. In a statement, the developers said that all purchases made in Gala’s ecosystem using the GALA token will see it get burned. When the Gala is burned it will be added to an emissions pool to be re-emitted through the Founders Nodes in the normal distribution. 

According to the developers, burning these tokens will help to provide more utility to the ecosystem. Meanwhile, the developers are working on the Meow Match, which is a major upgrade to the network. In the first quarter, they will onboard Meow Match to the Gala Platform, launch Cat NFTs, and transform all earned in-game cats into claimable NFTs. In the second quarter, the Meow NFTs will be upgraded to utilize cat NFTs.

Gala price prediction

The 4h chart shows that GALA price has been in an unstoppable bull run in the past few weeks. As it rose, it managed to move above the important resistance level at $0.050, which was the highest point on Monday. Gala has moved above the ascending triangle pattern and the 25-day and 50-day moving averages. 

Notably, Gala is not yet in an overbought level. Therefore, there is a likelihood that the coin will continue soaring as buyers target the key resistance level at $0.060. A drop below the key support level at $0.050 will invalidate the bullish view

How to buy Gala

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 GALA with eToro today

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 GALA with OKX today

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Metacade, XRP, and Tron Price Prediction for 2023, 2025 and Beyond

The crypto market moves in mysterious ways. Or not, if you look at the historical trends. Each bull market has been followed by a prolonged “crypto winter,” in which prices dip across the board. After this, the market typically recovers when the Bitcoin halving occurs, with the next one scheduled for early 2024.

This means that 2023 could see rising crypto prices as the 2022 bear market is placed firmly in the rearview mirror. XRP (XRP), Metacade (MCADE), and Tron price predictions are now turning bullish.

Metacade price prediction: Will MCADE reach $5 in 2025?

After recently announcing that Metacade received $1.12 million in funding during the beta phase of the presale in 3 weeks, the raise amount quickly jumped to $1.9m in closed in stage 1, the MCADE token is now expected to skyrocket after the event is complete.

MCADE could reach $1 during 2023, which would be a massive 50x gain after the presale. After the Bitcoin halving event and into 2025, MCADE has the potential to reach $5-7 when the next bull market comes around.

What is Metacade (MCADE)? 

Metacade is building the biggest arcade on the blockchain and will offer a range of different play-to-earn (P2E) games. Users can compete in online tournaments against players from all over the world and will benefit from a variety of innovative earning mechanics in the Metacade.

The project is driven by the community and aims to become a central hub for GameFi users. To help the community, the Create2Earn feature will reward users for sharing useful information about the platform, as well as for posting game reviews and interacting with other members.

Metacade is also helping the wider GameFi industry to grow. Job opportunities will be offered to gamers through the Work2Earn feature, which can help the community to break into Web3 while ensuring that projects get a constant supply of crypto enthusiasts to eagerly drive development.

The Metagrants program is an innovative fundraising method for developers. The Metacade community will vote to decide which new games sound the best before providing early-stage funding to help in the development process for new GameFi titles.

How does Metacade work? 

The MCADE token is used to reward members of the community and to gain access to P2E tournaments. It will also be used for staking and voting in governance proposals when the platform’s decentralized autonomous organization (DAO) goes live in 2023-24.

XRP price prediction: Will XRP reach $4 in 2025?

XRP could blow past its previous all-time high if (or when) the project finally beats its court case with the SEC. This case has held back the price of XRP for some time, yet it still remains a top 10 cryptocurrency by market cap. In 2023 and beyond, the XRP token could certainly reach $4.

What is XRP?

XRP facilitates high-speed, low-cost financial transactions across national borders and aims to provide instant liquidity for central banks and other financial institutions. XRP is also the native token for the XRP Ledger, which is a decentralized blockchain network that can support the development of many different applications.

Ripple, the parent company for the XRP project, has formed major partnerships with institutions such as JP Morgan, The Bank of England, and Santander, which reflects its lofty ambitions as a decentralized payment solution.

Tron price prediction: Will TRX reach $0.26 in 2025?

Tron price predictions are bullish; however, TRX is a relatively stable cryptocurrency in terms of price action. The token can absorb market volatility due to high levels of liquidity, so the Tron price prediction may seem lower than expected.

This liquidity benefits the blockchain and enables rapid transactions at low cost, but it also means that the Tron price prediction is unlikely to rise to the same extent as MCADE. Experts are predicting a $0.26 valuation for the TRX token, which is a 5x gain for Tron’s price prediction by 2025.

What is TRX?

TRX is the native token for the Tron blockchain, which is a common method for sending cryptocurrency across the world due to rapid transaction finality. The Tron ecosystem is home to a variety of different DeFi services and other decentralized applications (dApps), including games, borrowing protocols, and exchanges.

The Tron blockchain regularly processes hundreds of millions of dollars worth of transactions on a daily basis. It can process 2000 transactions per second (TPS) and has a block finality time of three seconds. While the Tron price prediction is less bullish than alternative cryptocurrencies, it is a strong investment for the future.

Metacade has the biggest return potential over the coming years

The Metacade platform could grow to become one of the biggest projects in the GameFi sector. Through its advanced earning mechanics and a vast selection of different blockchain-based games, the project is expected to attract a huge community of gamers.

The MCADE token is currently just $0.01. The presale is a unique opportunity to get involved in a high-potential crypto project at low prices, but the token will continue to rise in value until it hits $0.02 during the final stage of the presale. This event could turn out to be the biggest investment opportunity for 2023 and beyond, so investors should be quick to jump into the Metacade presale before it’s too late.

You can buy XRP and TRX at eToro here.

You can participate in the MCADE presale here.

The post Metacade, XRP, and Tron Price Prediction for 2023, 2025 and Beyond appeared first on CoinJournal.

Top 7 Metaverse Games To Invest in in 2023

Metaverse games are constantly expanding and becoming more advanced. The technology is connecting players with new earning opportunities and new methods of exploring immersive landscapes online, which makes them some of the most highly sought-after investment opportunities around.

In this article, the very best metaverse games will be discussed and evaluated according to their investment potential:

  1. Metacade (MCADE)
  2. Axie Infinity (AXS)
  3. Gods Unchained (GODS)
  4. Decentraland (MANA)
  5. Enjin (ENJ)
  6. The Sandbox (SAND)
  7. Star Atlas (ATLAS)

1. Metacade (MCADE)

The best investment opportunity for all metaverse games during 2023 is Metacade. Metacade is building the biggest arcade on the blockchain, offering a range of different arcade-style games that each have play-to-earn (P2E) mechanics. Players can compete in PvP tournaments and earn financial rewards for progressing through endless levels in these classic arcade titles.

As well as this, Metacade will become a central hub for the entire GameFi community. The platform offers a place to meet up with other gamers and discover the latest trends, and players will be rewarded with MCADE tokens for contributing useful information to the community.

Metacade is community-driven at its core. The community can access paid beta-testing roles, helping to uncover any bugs and optimize gameplay before new games are officially released. Metacade users can get a unique insight into the game development process and will be given a springboard to launch a career in Web3.

Why buy MCADE?

Metacade is supporting the development of metaverse games directly through its Metagrants program. Metagrants will be awarded to the most in-demand blockchain games, which can help to boost the overall level of innovation in the GameFi sector.

The MCADE token is also brand-new and recently attracted $1.12 million worth of investment in just three weeks during its presale. MCADE is currently priced at just $0.01 per token and has the potential to climb to over $1 during 2023, when the Metacade is fully developed.

>>> You can participate in the MCADE presale here <<<

2. Axie Infinity (AXS)

Axie Infinity (AXS) is a digital collectible card game built on the Ethereum blockchain. Axies are unique virtual pets with different skills, stats and backstories. Players can collect these animals and improve their level while progressing through the game.

The Axie Infinity metaverse game has been described as a cross between Pokemon and Tamagotchi. Like both of these games before it, Axie Infinity has proven to be extremely popular among gamers from all over the world. In October 2021, Axie Infinity attracted over 2 million daily users, making it one of the most widely used decentralized applications (dApps) on the blockchain.

Axie Infinity was one of the first games to utilize non-fungible tokens (NFTs) to create a blockchain-based game. By all accounts, Axie Infinity popularized the GameFi movement when it was launched in 2018, and the AXS token has since become a top 50 cryptocurrency by market capitalization.

Why buy AXS?

Axie Infinity is one of the original blockchain games and has been developed with a unique design. The Ronin bridge is an Ethereum sidechain built specifically for Axie Infinity to improve the game’s compatibility with the blockchain.

Over time, the AXS token is expected to fully recover from its bear market lows. The price of AXS is currently $6.31, with an all-time high of $166 – the AXS token has the potential to reclaim these highs over time, making it the second-best metaverse game to invest in during 2023.

3. Gods Unchained (GODS)

Gods Unchained is an online strategy game where players trade NFTs, upgrade their deck, and compete against other players for victory. The Gods Unchained metaverse game utilizes P2E mechanics to deliver financial rewards to players as they win battles and expand their arsenal of NFTs.

The project is led by an experienced team, including Chris Clay, who is the former Game Director at Magic: The Gathering Arena (MTGA). Gods Unchained works in a similar way to MTGA, except with the added benefits of self-owned digital assets and integrated financial rewards for players.

Gods Unchained has attracted a significant following since development began in 2018. The game has sold millions of individual trading cards and launched a native token for the platform, GODS, in November 2021.

Why buy GODS?

Gods Unchained is an established metaverse game with a relatively new token. The GODS token was launched at the end of the bull market in 2021, so the current price of $0.1997 does not accurately reflect its value.

As the wider crypto market recovers before the next bull market, GODS could rise significantly and enter price discovery. Bull markets are known to produce parabolic rises for new tokens – GODS will benefit from this initial burst and has the added security of being a widely-used metaverse game already.

4. Decentraland (MANA)

Decentraland is a metaverse game that allows users to purchase digital plots of land and build unique applications and experiences. The MANA token is used as a medium of exchange on the Decentraland platform, giving players the ability to acquire LAND tokens – unique NFTs that represent parcels of virtual real estate.

Users can build whatever they like on their purchased LAND, including art galleries, assault courses, meeting rooms, and nearly anything else that can be imagined. Creations can be explored and monetized in a variety of ways, as users are in full control of their assets on the Decentraland platform.

Decentraland is driving the expansion of metaverse games by supporting user-generated content (UGC) at the foundation of the game. The platform allows anyone to buy and sell digital assets in the metaverse, reducing barriers to entry for digital real estate and encouraging an enhanced user experience through greater personal control.

Why buy MANA?

Decentraland can help to increase the adoption of metaverse technology due to its unique mechanics. The platform can serve individual content creators and businesses looking to create virtual experiences. This enables brand-new ways to interact with other people over the internet, which could prove increasingly popular over time.

The MANA token is currently priced at $2.00, and looks undervalued at this level. Experts are predicting significant gains for MANA over the coming years as the metaverse becomes more widely adopted, making it the fourth-best metaverse game to invest in during 2023.

5. Enjin (ENJ)

Enjin (ENJ) is a blockchain-based platform that facilitates the development of metaverse games. The platform aims to make the creation, management, and trading of in-game digital assets more accessible. Anyone can create NFTs easily on Enjin, as the project offers a suite of tools to make the process simple and intuitive.

Enjin also offers some unique features that are specially developed to improve the user experience in metaverse games. ENJ tokens are locked into NFTs that have been created on the platform, which serves to provide instant liquidity for gamers. This feature enables instant trades at a low cost.

Why buy ENJ?

GameFi continues to grow in popularity, and NFT technology remains at the foundation of the industry. Enjin can help to optimize the user experience for many blockchain games by improving the transaction speed and transparency of NFTs across many different blockchain games, which gives it significant value in the wider GameFi ecosystem.

The ENJ token is currently priced at $0.247987 – down from its all-time high of $4.82. Enjin Network is expected to expand its ecosystem of games, and the ENJ token will benefit from high demand and a rising price as a result. ENJ is a top project to invest in, as it supports the growth of metaverse games directly.

6. The Sandbox (SAND)

The Sandbox allows users to create their very own digital world and explore a vast number of gaming experiences that have been created by other players. Unlike other metaverse games that focus on combat and active gameplay, The Sandbox encourages players to explore the landscape, tell stories with friends, and build their own worlds.

The Sandbox focuses on UGC and makes building game assets more accessible to everyone. Users can create games with little to no programming experience, which can help to boost the level of innovation in game development over time.

The Sandbox has been compared to Minecraft due to its focus on UGC. Minecraft is the most popular PC game of all time, which reflects the widespread demand for the type of experience that The Sandbox delivers.

Why buy SAND?

SAND is the medium of exchange that allows users to buy and sell gaming assets on the platform. The Sandbox is a popular metaverse game that attracted over 2 million active users during March 2022, and the platform is expected to continue to grow over time.

At the price of $0.413, SAND is expected to grow significantly in value over the coming years. For this reason, it is one of the top metaverse projects to invest in during 2023.

7. Star Atlas (ATLAS)

Star Atlas is a futuristic metaverse game set in space. The metaverse utilizes Unreal Engine, which helps to deliver cinematic graphics that can engulf players in a mind-blowing 3D world. Players can explore the universe and conquer new challenges, as well as construct entire cities using purchased plots of land and tradeable assets.

NFTs can be bought, sold, and upgraded using the ATLAS token. Tradeable items include a spaceship, crew members, land parcels, and other items that can be used to enhance the gaming experience. The game utilizes P2E mechanics to deliver rewards with financial value to all players.

Why buy ATLAS?

Star Atlas was launched in 2021 and has since become a major name among metaverse games. The platform has a unique experience that immerses players in outer space, offering an engaging plotline and advanced graphics alongside integrated financial rewards.

ATLAS is expected to grow significantly in value from its current price, $0.00292817. It is definitely one of the top metaverse games to watch during 2023, as an investment at this price level could produce major returns over time.

Metacade: The best metaverse game to invest in 2023

The MCADE token presale sold out during its beta phase extremely quickly. The price of MCADE started at $0.008 and is gradually rising to $0.02 over the course of the presale. Since Metacade has the potential to become one of the biggest crypto projects around over the next few years, the MCADE presale could be the biggest investment opportunity of 2023.

You can buy metaverse game tokens at eToro here.

You can participate in the MCADE presale here.

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