Schlagwort: crypto business

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If You Think DOGE Is Worth the Hype After Musk’s Twitter Acquisition, Take a Closer Look at Metacade, Which Has Generated $2 Million in Presale So Far

Just when you thought there couldn’t be any more hype around Dogecoin (DOGE), Elon Musk’s Twitter acquisition sent the rumor mill into overdrive again. Could Musk really intend to incorporate DOGE on Twitter? It’s an intriguing proposition and one that would have serious – read upward – implications for DOGE.

But not everyone buys into the hype around DOGE, Musk, and his Twitter acquisition. When all the noise dies down, things could actually go the other way. Musk could return his focus to Tesla and SpaceX. Twitter could lose market share as Twitterati leave the platform in protest at the new owner. And the familiar negatives around DOGE are still there: unlimited token supply, negligible development, minimal functionality, and lack of widespread acceptance for payment.

For those reasons, many investors are looking beyond DOGE and Musk’s Twitter acquisition, believing great opportunities lie elsewhere. And that’s where Metacade comes in. This GameFi newcomer has created a real buzz in the market, having already generated $2 million in it’s presale raise . Read on to learn why so many people believe it’s the next crypto-gaming sensation.

What is Metacade?

There’s a tangible sense of excitement around GameFi newcomer Metacade (MCADE). In a sector where some companies have placed too much emphasis on the “Fi” and not enough on the “Game,” Metacade (MCADE) gets the balance just right. It features a stunning selection of futuristic metaverse and virtual games alongside much-loved, classic arcade games. Currently available at a great presale price, Metacade (MCADE) delivers the ultimate GameFi experience.

How Metacade Works

Metacade (MCADE) brings together all sides of the crypto gaming and GameFi industry. Players, designers, developers, crypto fanatics, and investors are all enriched – literally – by the connections, synergies, and shared experiences that Metacade (MCADE) facilitates. Acting as a Web3 community hub for GameFi, here’s how Metacade works: 

Blockchain gamers can have fun and generate income from Metacade’s Play2Earn, Compete2Earn, Create2Earn, and Work2Earn functionality. 

Designers and developers can test, showcase, market, and launch new games, organize competitions, communicate directly with players and investors, and recruit new hires.

Crypto fanatics and investors can stake MCADE tokens and benefit from exciting investment opportunities.

Metacade (MCADE) earns revenues from paid games, advertisements, new game launches, paid tournaments, and job postings.

Alongside its fantastic selection of games, new and old, Metacade (MCADE) is also looking to the future with its Metagrants program. This forward-looking initiative provides funding for the development of the next generation of games on the platform. So Metacade doesn’t just host the best games: it’s also actively developing the best new ones! What’s more, part of the revenues from new games will be fed back into the Metacade community.

Mainstream and social media often focus on bad news stories like the FTX crash or big news events like Elon Musk’s Twitter acquisition. That’s a shame because it means they miss out on really interesting stories like the huge potential rise of GameFi and companies like Metacade (MCADE).

Should Investors Choose Metacade Over Dogecoin?

Currently, there aren’t too many bright spots in the crypto industry, but the burgeoning P2E sector is an exception to that rule. Many analysts and experts are predicting the market will soar in 2023, giving the crypto market some much-needed good news. Although Dogecoin (DOGE) got a boost in the aftermath of Musk’s Twitter acquisition, it’s Metacade (MCADE) in the P2E sector that looks like it could really take the market by storm.

Metacade (MCADE) holds the upper hand for a number of other reasons, too. The supply of MCADE tokens is limited, and they offer greater functionality. Next up, the company has been fully audited by Certik to underpin investor security and safety. And finally, the Metacade (MCADE) roadmap includes a commitment to becoming a DAO, thus giving community members governance rights and rewards for their involvement in the company.

All that said, the bottom line is that investment is ultimately about making a profit. Again, Metacade (MCADE) has the advantage over Dogecoin (DOGE). New investors can benefit from an early mover advantage and likely a worthwhile return on the attractive Metacade (MCADE) presale price. But it’s post-launch that things could get really interesting, with some experts speculating on the prospect of 100x gains or more as P2E really takes off.

Elon Musk is the second richest man in the world, so it’s no surprise that his Twitter acquisition and subsequent comments on Dogecoin (DOGE) have driven investors towards this token. But scratch beneath the surface, and it’s not so obvious whether DOGE is genuinely worth the hype.

DOGE or MCADE: The Verdict

As with everything he says and does, Elon Musk’s Twitter acquisition created a media frenzy, including stories about Dogecoin (DOGE). But once everything settled down, the DOGE price is still only showing a small premium since the Twitter take-over. Beyond all the DOGE hype, savvy investors are taking a closer look instead at Metacade (MCADE), especially in light of its impressive presale performance.

But you need to be quick if you want a piece of the action. The first phase of the Metacade (MCADE) presale is nearly sold out, so act now to buy in at the best price.

You can participate in the Metacade presale here.

The post If You Think DOGE Is Worth the Hype After Musk’s Twitter Acquisition, Take a Closer Look at Metacade, Which Has Generated $2 Million in Presale So Far appeared first on CoinJournal.

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Crypto short traders lose $200M to liquidations as Ether hits a two-month high

  • The cryptocurrency market capitalization has risen by about 3.18% in the past 24 hours.
  • Ether has hit a two-month high trading at about $1400.
  • The crypto market in general has risen against the cautious tone in the US stock market.

Crypto traders who had bet on a market decline have been caught off-guard by the broad recovery in the crypto market. As a result, about $200 million worth of short trades against price rises has been liquidated in the past 24 hours.

Another more than $150 million worth of short trades were also liquidated earlier this week as Ethereum (ETH) and bitcoin (BTC) broke past key resistance levels according to data from CoinGlass. Other major altcoins like XRP and Solana also registered gains of about 20%.

Ether-tracked futures also saw liquidations worth about $110 million in both long and short positions. Bitcoin saw liquidations worth about $77 million, while AVAX and GALA saw $4.5 million in liquidations.

Ethereum’s strong performance

Despite the cautious tone around the US stock futures, Ethereum (ETH) has rallied to a two-month high, confirming that the crypto is well prepared for a recovery in 2023 if the bullish trend is sustained.

Ethereum’s bullish trend is further projected to gain momentum ahead of the scheduled March Shanghai upgrade, which is designed to de-risk staking by allowing people to withdraw ETH staked into the Beacon Chain. There was some Ether that ware locked/staked into the Beacon Chain in December 2020.

The Shanghai upgrade is expected to boost staking demand causing a decrease in the circulation supply of ether, which the law of demand and supply dictates would result in a rise in ETH prices.

According to Thielen, the upgrade:

“Will motivate many ETH holders to stake their ETH as only 14% of the ETH is being staked now, compared to 58% for other Layer 1 protocols. Hence, another $20 billion of ETH can be easily staked. More ETH staked means less ETH available to sell when negative news hits the market. Hence, this is bullish.”

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Robinhood announces plans to delist Bitcoin SV (BSV) before end of January

  • Robinhood on Wednesday said it has stopped accepting Bitcoin SV.
  • It has also said that it will delist the cryptocurrency starting January 25.
  • Any Bitcoin SV in customers’ accounts after January 25 will be automatically sold.

Online trading app Robinhood on Wednesday said through a statement on its website that it has stopped accepting Bitcoin SV (BSV) deposits as it prepares to delist the cryptocurrency on January 25.

Between now and January 25, users hold and sell BSV but after the deadline, the platform will not support Bitcoin SV trades, purchases, or transfers. Additionally, any BSV held in users’ accounts will be sold at market value and the proceeds will be given to the respective users.

Regular review of supported cryptocurrencies

While making the announcement, Robinhood said the move has been arrived at based on its regular review of the cryptocurrencies that it offers. It, however, never gave a specific reason for dropping the cryptocurrency.

The company’s statement read:

“We have a rigorous framework in place to help us regularly review the crypto we offer on Robinhood,” a spokesperson told CoinDesk in a statement. “We are extremely selective about the assets we offer as we build toward our goal of making Robinhood Crypto the most trusted, lowest cost, and easiest to use on-ramp to crypto.”

What is Bitcoin SV (BSV)?

BSV is the native token of the Bitcoin Satoshi Vision (Bitcoin SV) blockchain which was launched in 2018 following a hard fork from the Bitcoin Cash blockchain. Bitcoin Cash is itself a hard fork of the original Bitcoin blockchain.

The BSV was added to Robinhood almost immediately after the hard fork from Bitcoin Cash.

Following the announcement, the price of BSV dropped from a high of $44.41 to as low as $37 although it had slightly retraced upwards to trade at $40.73 at press time.

The post Robinhood announces plans to delist Bitcoin SV (BSV) before end of January appeared first on CoinJournal.

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What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains


Key Takeaways

  • Bitcoin has increased for eight straight days, now up 9.2% on the year
  • Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward
  • Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month or so
  • Altcoins could move violently on the report, while Bitcoin will likely shake off its $18,000 mark if data comes in below or above expectation

 

Bitcoin has banked eight straight days of price rises, as the new year has kicked off assiduously for cryptocurrency investors.

Whereas 2022 brought nothing but pain and freefalling prices, 2023 has thus far been the exact opposite. Bitcoin is up above $18,000 and Ethereum close to $1,400, good for rises of 9.2% and 16.4% respectively year-to-date. Many altcoins are up even more.

Volatility has reduced in the crypto markets

The macro climate is pushing prices upward. I wrote a piece analysing the softer climate last week, but optimism has crept into the market that inflation may have peaked and that the possibility of a pivot from the Federal Reserve off its policy of heightened interest rates may be coming soon than previously anticipated.  

It should be noted that while this is a nice rally, it is hardly a violent breakout. Cryptocurrencies are notoriously volatile and there has actually been an unusual serenity that has washed over markets over the past couple of weeks.

A quick glance at the chart for the daily returns of Ethereum illustrates that there has been a perceptible fall in volatility.

Inflation data to be released Thursday

I write this on Thursday morning, with the all-important US inflation data to be released this afternoon. If we know anything by now, it is that inflation numbers rule the world. If there is anything in the current climate that will produce volatility, it is the CPI report.

As mentioned above, this relief rally has largely been predicated on softer inflation leading to the hope that the Federal Reserve will pivot off its high-interest-rate policy sooner than anticipated. Another positive inflation number would give further impetus to crypto prices. It is not hard to imagine Bitcoin pushing up towards $20,000 and Ethereum to $1,500 if the number comes in cooler than anticipated.

On the flip side, of course, is the potential for the number to disappoint investors. Following two straight months of positive inflation, a step back this afternoon would be a body blow for crypto, and it would not be a surprise to see it drop sharply as all the optimism of the last month gets released in an instant.

The inflation number is expected at 6.5%. This would be a decline from the prior month of 7.1%. Should the number come in at 6.7% or higher, this would represent a major disappointment and crypto will likely freefall. Do not be surprised to see Bitcoin down at $16,500 in this scenario.

The data will be released at 1:30 PM GMT (8:30 AM ET), and it is the last CPI report before the Federal Reserve’s February 1st interest rate decision.

Altcoins showing signs of life

However bad things have been for Bitcoin and Ethereum, the landscape has been a hell of a lot worse for altcoins. Below are the percentage returns in 2022 from the top 10 coins as of 1st January 2022.

As is standard, these coins are significantly more volatile, and trade like leveraged bets on Bitcoin. It follows that this year, the jumps have also been stronger than the number 1 crypto. 

Looking at the top 10 coins from Jan 1st this year, some of the returns have been seismic, albeit from a significantly lower base. Remember, a 90% drop followed by a 50% rise is still the same as an 85% drop from the original starting point. A simple math problem that many investors do not understand. Hence, the past couple of weeks have been positive, but this is still a space that has been absolutely ravaged by the bloodbath that was 2022, and it will take a very long time to recover from. 

Final thoughts

This is a pivotal week for the markets and it will be a true gauge of how far the battle against inflation has come. Central banks have been adamant that inflation is the number one priority, and the consequent interest rate policy has crushed risk assets over the last year.

Things are tough in the markets, but with a third straight month of OK inflation data, it could point toward a light at the end of the tunnel. Then again, the world is teetering on the edge of a recession as it is, and if inflation takes a step back, it will be a double whammy of high rates and still-persistent inflation. As always, risk assets will feel the pain. 

Crypto investors will just have to hope that the pivotal CPI number doesn’t dare tick up beyond 6.5%. 

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Avalanche soars as Ava Labs announces Amazon partnership

  • Avalanche price soared more than 16% after Ava Labs announced new partnership with the Amazon Web Services (AWS).
  • Avalanche will launch validator tools and its Subnet deployment feature on the AWS Marketplace.
  • Ava Labs joins the AWS Activate and AWS Partner Network (APN).

Avalanche price jumped more than 16% on Wednesday afternoon after Ava Labs, the company helping to build the Avalanche blockchain, revealed a partnership with Amazon Web Services (AWS).

At the time of writing, the native token AVAX was trading at $14.93, up 16.6% in the past 24 hours. Avalanche is currently trading 31% up over the past week.

The upside for the AVAX token followed the Ava Labs and AWS partnership news, with the collaboration between the two companies set  to accelerate blockchain adoption for enterprises, institutions, and governments.

The partnership allows Avalanche users access to an easy infrastructure to deploy and manage nodes, the companies said.

Bringing Avalanche Subnets to AWS Marketplace

In a press release published on Wednesday, the companies said the collaboration will also strengthen the layer-1 blockchain network as well as increase its flexibility for developers.  

AWS will support Avalanche’s network infrastructure and decentralised applications (dApps) ecosystem, which will include one-click node deployment via the AWS Marketplace.

“I’m proud that we’ve implemented a protocol that can accommodate millions of participants with near-instant finality,” said Emin Gün Sirer, founder and CEO of Ava Labs. “Our work with Amazon can accelerate the positive impact of Avalanche,” he added.

The partnership also means Avalanche nodes can now run in AWS GovCloud, while Ava Labs joins the AWS Partner Network (APN) and AWS Activate, the latter helping bring the benefits of AWS to the Avalanche ecosystem.

“AWS Activate is an excellent resource for developers to bring apps to the masses with Avalanche’s trailblazing speed, security, and scalability at their core,” John Wu, President of Ava Labs, said in a statement.

With this affiliation, enterprises, institutions and governments can seamlessly launch custom Subnets, with the process involving only a few clicks, Avalanche wrote in a Medium post.

The blockchain platform will make this possible through integration of Subnet deployment, its scaling feature, as a managed service on the AWS Marketplace. Subnets help scale the Avalanche blockchain by diverting traffic, with users leveraging the functionality through the staking of AVAX.

AWS connects over 100,000 partners and is available in more than 150 countries.

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