Vulcan Forged will use the funding to expand operations in North America.
Global investment firm SkyBridge Capital led an $8 million Series A funding round for blockchain game studio Vulcan Forged, the firms have announced.
The financing round also includes the option for a further $33 million investment, according to a press release from SkyBridge Capital. Vulcan Forged also confirmed the announcement via its official Twitter account.
Jamie Thomson, the founder and CEO of Vulcan Forged sees this a strategic investment that has come at a “perfect time” for it and the company will capitalise on it to continue its growth momentum.
In particular, Vulcan Forged, also a leading decentralised applications (dApps) incubator, will use the funding to accelerate growth of its metaverse-as-a-service engine dubbed MetaScapes.
As per the play-to-earn gaming company, the funds will help it scale its operations across North America and other key markets. Part of the expansion will see the company open a new office in New York City.
Vulcan Forged has released some top web3 game titles, including VulcanVerse, Berserk and Forge Arena, and looks to extend its reach with new ventures across the metaverse space with MetsScapes.
“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level,” said Anthony Scaramucci, the founder and managing partner at SkyBridge Capital.
Elysium is a proof-of-stake (PoS) blockchain platform Vulcan Forged launched in 2021. The highly scalable platform with low gas fees, is purpose-built for decentralised applications, gaming, and NFTs and other metaverse features.
Binance Coin price lost momentum this year as momentum in the cryptocurrency industry wanes. The BNB price crashed to a low of $183, which was about 61% from the highest level in 2021. It has fallen by 48% this year, meaning that it has done better than other popular coins like BTC and ETH.
BNB ecosystem challenges
Binance Coin is the native cryptocurrency for the BNB Smart Chain network. It is an Ethereum rival that is widely used by developers building decentralized applications (dApps) in all industries like DeFi, games, and non-fungible tokens (NFT).
BNB Chain has been used to build some of the best-known applications in the Web3 industry. For example, it was used to build apps like PancakeSwap, ApeSwap, Bogged Finance, and MOBOX. Other platforms built in BNB Chain are Venus, Alpaca Finance, and Cream Finance among others.
There are several reasons why the Binance Coin price has dropped this year. First, it retreated because of the soaring inflation in key countries like the United States and the UK. As a result, central banks have been forced to hike interest rates.
The Fed has hiked by 225 basis points this year while the Bank of England has hiked six times. Historically, cryptocurrency prices underperform in a period of high-interest rates.
Binance Coin price also crashed as the total value locked (TVL) dropped from more than $21 billion to $5.2 billion. As a result, it was overtaken by Tron and is now the third-biggest smart contract platform in the world.
In addition, the BNB price dropped because of the underwhelming performance of the metaverse. After soaring in 2021, the metaverse has struggled this year, with projects like Sandbox and Decentraland losing momentum. BNB Chain was seen as a key player in the metaverse industry.
Binance Coin price prediction
The daily chart shows that the BNB price has been in a bearish trend in the past few weeks. In this period, the coin has crashed from a high of $337 in August to a low of $267. It has formed what looks like an inverted head and shoulders pattern.
Binance Coin price has also formed what looks like a falling wedge pattern, which is usually a bullish sign. Therefore, there is a likelihood that the coin will bounce back in the coming weeks. As such, you should buy BNB when it moves above the key resistance at $337.
How to buy Binance Coin
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
Yesterday, Ellipsis price jumped to a months-high of $0.0007382 before the current price retracement that has seen it dip to $0.0004983 at press time.
Yesterday’s surge, which was propelled by BNBx Ellipsis LP update of migrating from Stable pool to Crypto Pool, had rekindled hopes of the token staging a strong bullish rally seeing that it surged by more than 78% in a day.
All the same, the token is still trading higher than where it was trading Yesterday morning ($0.0004133) and there are very high expectations of the coin resuming yesterday’s bullish trend.
To help investors and traders who want to take advantage of the current Ellipsis price dip, Coinjournal has created a brief article to help with identifying where to buy the EPX token.
To find out more, please continue reading.
Best places to buy Ellipsis token
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.
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.
Ellipsis is a cryptocurrency that operates on the BNB Smart Chain (BEP20) platform.
On March 31, 2022, it performed a token migration from the old Ellipsis (EPS) token to its current Ellipsis (EPX) token.
After the token migration, the EPX token was locked from transfers until the Ellipsis 2.0 protocol was launched. It was after the token migration and launch of the 2.0 protocol that the holders of the old EPS token were allowed to exchange every EPS for 88 EPX tokens.
Should I buy the EPX token today?
If you want to purchase a cryptocurrency that has shown signs of taking off, then the EPX token could be a good choice.
However, the EPX token has been struggling since it was launched and did not perform as anticipated. And owing to the volatility of the crypto markets, it is difficult to precisely predict how the token will perform moving ahead.
Ellipsis price prediction
Following yesterday’s price surge, analysts are expecting the token to close the week at least above $0.0008. However, this will be determined by whether the token will correct the current price retracement before it erodes the gains it had made.
$EPX social media trends
We have created a new BNBx-BNB Crypto pool on @Ellipsisfi
After a selloff in the past week, the cryptocurrency market is stabilizing, and selling volumes are dropping. This means it could be an excellent time to start looking for buying opportunities if there is a rally within the week. But where can such a rally come from? What could trigger it? Well, that will depend a lot on the news, and at the moment, the news is pointing to Metaverse cryptocurrencies as potentially big winners this week.
The latest news coming about the Metaverse is coming from South Korea. The country’s regulators are working on a framework that will fast track growth of the Metaverse in the country. Though these are long-term plans, the markets will likely respond positively to this news, which means potential growth in top Metaverse cryptocurrencies.
With this in mind, let’s now look at the top 3 Metaverse cryptocurrencies to keep an eye on this week.
Decentraland (MANA)
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Decentraland (MANA) is one of the top Metaverse cryptocurrencies by market cap and one of the best-performing ones in the November 2021 cryptocurrency rally. However, it has since lost a lot of value and is currently trading at less than $0.80. This makes it quite affordable to most investors, and as the South Korean news filters into the market, MANA is likely to pump. That’s because it is one of the biggest Metaverse cryptocurrencies in the market now, which makes it easily accessible even to a non-sophisticated investor.
Sandbox (SAND)
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
The Sandbox (SAND) is another large-cap of Metaverse cryptocurrencies that could do well if Metaverse cryptocurrencies gain traction this week. Like Decentraland (MANA), Sandbox (SAND) is one of the larger and hence more visible Metaverse cryptocurrencies that could benefit if there is FOMO around Metaverse cryptocurrencies in the month. Besides being one of the largest Metaverse cryptocurrencies, SAND has a growing ecosystem of games and other virtual assets, making it hugely undervalued at current prices.
Axie Infinity (AXS)
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Axie Infinity (AXS) is one of the top cryptocurrencies that are building one of the fastest growing play-2-earn ecosystems in crypto. It has one of the most expensive NFTs collections on the market. With its deepening P2E Metaverse, Axie Infinity has pretty good odds of growth long term.
In the short term, Axie Infinity has everything it would take to trigger FOMO if Metaverse cryptocurrencies start gaining upside momentum. One thing that gives Axie Infinity the potential to rally is its proven resilience, even during adverse events. For instance, during the Ronin hack, the price of Axie Infinity remained stable throughout.
This and the fact that Axie Infinity is currently trading at record lows from its most recent all-time highs makes it highly attractive to investors. Axie Infinity buying volumes are already rising, an indicator that bulls are taking the market, and a potentially big move could be underway.
Algorand has surged 7% in the past day on renewed strengths
The PoS network recently had a major network update
Native ALGO token has jumped from key support but faces immediate resistance
Algorand ALGO/USD has gained 7% in the past day, defying Monday’s crypto slump. The token currently exchanges for $0.3389 against the USD, with a market capitalization of $2 billion. At the start of the week, major cryptocurrencies tanked significantly. Bitcoin and Ethereum both dipped below $19,000 and $1,300, respectively.
While Algorand is one of the fastest blockchains, its pump is not tied to anything specific. However, it could partly be related to a recent introduction of a system upgrade. The update boosted the layer-one network to a speed of 6,000 transactions per second.
Algorand is a blockchain built for dApps with an emphasis on scalability, security, and decentralization. It differentiates itself with the use of randomness and pure proof-of-stake algorithm. The consensus model is based on Byzantine protocol. Algorand smart contracts are powered using Turing-complete languages.
Aside from the specifics, Algorand could also be deriving its bullishness from the upcoming FIFA World cup. The world football governing body has entered into a partnership with the blockchain.
In the deal, the network will support soccer-themed digital collectibles. Nonetheless, like the rest of the cryptocurrencies, Algorand faces strong macroeconomic factors. A potential rate hike by the US Federal Reserve is one of them. On the technical chart, Algorand is on a strong bull run.
ALGO surges from $0.28 support
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.
According to the daily chart above, Algorand made a comeback after retesting support severally. Both the 20-day and 50-day have joined support. However, the Stochastic Oscillator is at the overbought zone, and ALGO is almost at the $0.3509 resistance level.
Concluding thought
The current price level is not a perfect buy entry point for Algorand. The token has surged considerably and may be due for a retracement. The immediate $0.35 resistance and an overbought market require patience before any decision can be made. In that case, it is ideal to wait for a price retracement.
Source: TradingView