Schlagwort: crypto business

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LTC, ARB and MATIC price outlook amid US debt limit “tentative” deal

  • LTC bulls need to break above $93, a key hurdle below the psychological level of $100.
  • MATIC must reclaim $1 to target the $1.30-$1.50 range, or risk dip to $0.75.
  • Elsewhere, ARB is near a key resistance level as Arbitrum price jumps 3.9% amid the market’s reaction to US debt ceiling news.

The US has reached a “tentative deal” on its debt limit crisis after a week of high uncertainty. With the news of the deal seeping through the markets, cryptocurrencies reacted slightly positively as Bitcoin and Ethereum prices rose above $27k and $1.8k respectively.

The outlook was also visible across the top 10 altcoin market, with sentiment relief showing as Litecoin (LTC), Arbitrum (ARB), and Polygon (MATIC) moved up. Even then, markets remain largely weak as May comes to a close.

Here is what a respected crypto analyst has predicted for LTC, ARB and MATIC.

Litecoin price prediction: $93 key to LTC bulls

In March, LTC creator Charlie Lee offered a huge Litecoin price prediction. Pointing to the 14th ranked cryptocurrency (by market cap today), Lee said Litecoin price could rise to 0.0125 BTC in a new bull cycle. He also believed a downside for LTC could find support at 0.0025 BTC.

The current LTC price is above this latter level as it trades near $89.40 or 0.0032 against bitcoin. In recent weeks, analysts have pointed to Litecoin’s upcoming halving as a likely trigger for fresh upside momentum.

According to crypto analyst Michael van de Poppe, bulls need to break above a key resistance at $93 on the higher timeframe. The psychological $100 level would then be in sight as buyers eye a halving rally, he tweeted. 

“Many squigglies on this chart, but higher timeframe resistance is at $93. Currently, support found at $82 and a strong bounce -> weekly candle looks good. Next week breaking through $93 and the Halving rally might start.”

Polygon price prediction: MATIC needs to break above $1 again

MATIC has traded lower since March, with an attempt to flip higher running into rejection in April as price fell below $1.00 (CoinJournal highlighted the subsequent price movement here). Although it remains below the dollar, bulls might have the upper hand if they reclaim control above $0.95.

Currently, MATIC/USD is around $0.92. According to van de Poppe, MATIC has bounced well above this key area since its NFT announcement during the F1 Monaco GP. Can bulls build momentum from here?

“I really want to see it flip $0.95, then we can accelerate towards $1.30-1.50. If that’s not the case, then short is activated and longs can be taken at $0.75,” the analyst said in reply to one of the requests for altcoin analysis.

Arbitrum price prediction: ARB is near key resistance

Arbitrum, which was trading at $1.20 and 3.9% up in the past 24 hours at the time of writing, needs to hold above the $1.18 level to give bulls an upside boost. That could aid momentum to $1.30, van de Poppe noted.

“Again, into resistance. This means, entries are available at $1.10. If it doesn’t clearly break & flip the resistance at $1.18, I’d assume shorts are triggered when falling back sub $1.18. Otherwise, long continuation trade towards $1.30.”

The post LTC, ARB and MATIC price outlook amid US debt limit “tentative” deal appeared first on CoinJournal.

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MakerDAO proposal eyes new DAI savings rate of 3.33%

  • MakerDAO is considering a proposal to raise the Dai savings rate (DSR).
  • This follows the last change that saw DSR increase to 1%, attracting over 35 million DAI deposits in a month.
  • If approved, the latest proposal would see the DAI savings rate increase from the current rate to 3.33%.

MakerDAO, the decentralized finance (DeFi) protocol that issues the DAI stablecoin, has proposed an increase of the Dai savings rate (DSR) to 3.33%. 

The proposal comes a few months after a vote to raise the DSR to 1% from 0.6% saw over $35 million worth of the stablecoin deposited within a month. The latest change was put forward by DeFi platform Block Analitica and is subject to an Executive Vote by MKR holders. 

MKR is the governance token of the Maker lending protocol.

“The Dai Savings Rate (DSR) is a fundamental component within the Maker Protocol system, offering users the opportunity to deposit DAI and receive a consistent interest rate. This interest is accrued in real-time, accumulating from the system’s revenues,” the protocol said.

Implications for the broader DeFi ecosystem

As noted, the DSR plays a key role in MakerDAO’s monetary policy. Other than allowing platform users to earn interest on their DAI deposits, it helps in ecosystem growth with the community incentivized to mint new DAI.

The proposal to increase the DSR comes at a time when interest rates are rising in the traditional financial system.

For instance, the US Federal Reserve has raised interest rates several times in recent months as it looked to combat inflation. The change in the Dai rate also comes as yields on the US Treasury bonds spike, with the 3-month yield at around 5.29%.

Industry experts and observers say MakerDAO’s move could have broader implications for the wider DeFi market.

Primoz Kordez, the founder of Block Analitica, said raising Dai DSR to the proposed 3.33% will have ramifications across the sector as its DSR is the “benchmark for safest DeFi stablecoin yield.”

Dai rate has been low compared to other platforms such as Compound and Aave that currently offer up to 2.5% in rates for the likes of USDT, USDC and DAI. The industry should therefore brace itself for higher rates across lending protocols, stablecoins, bridges and DeFi treasuries, according to one expert.

The post MakerDAO proposal eyes new DAI savings rate of 3.33% appeared first on CoinJournal.

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Binance begins transition to new platform for Japan

  • Binance has said that the transition to the new platform is necessary to comply with Japanese regulations.
  • Transition to the new platform will involve users undergoing fresh KYC as from August 1, 2023.
  • Binanace acquired the Sakura Exchange BitCoin (SEBC) in 2022.

Binance, the world’s leading and largest cryptocurrency exchange, has announced that it will be transitioning its Japan users to a new platform beginning this summer. 

According to a notice on the exchange’s website, the new platform will comply with all Japanese regulations.

Migration of all Japan-based users to a new regulated platform comes after the company completed the acquisition of Sakura Exchange BitCoin (SEBC), a local cryptocurrency exchange. The deal was completed in November 2022 and is part of Binance’s expansion strategy amid greater alignment with regulatory compliance. 

Binance plans to rebrand SEBC, regulated by the JSFA, to Binance Japan.

Binance to restrict services amid the transition

As part of its transition, Binance has said it will gradually restrict services on its global platform Binance.com for local users. The new restrictions began on May 26, 2023, with users no longer able to open new derivative accounts.

The exchange will also discontinue options trading and Leveraged Tokens (BLVT) as from June 9, before cutting off all Japan-based users from the Binance.com platform on November 30, 2023.

By then, users in the country will have had an opportunity to migrate to the new platform after completing a new identity verification process. According to the notice, the new know your customer (KYC) process will be available as from August 1, 2023, Binance said.

Additionally, Japan residents who complete the KYC as required and hold supported coins will have access to the new Binance Japan after December 1. Users who will not have completed the mandatory verification process will only access withdrawals.

Users with “unpermitted tokens” are asked to convert these to the supported ones (a list of permitted tokens will be shared). If not, they have to withdraw these funds to external wallets. Binance will automatically convert all unpermitted tokens to Bitcoin (BTC) on November 30, according to the notice.

The post Binance begins transition to new platform for Japan appeared first on CoinJournal.

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GamStop & Crypto: fostering responsible gambling for a sustainable ecosystem

  • GamStop was created in the United Kingdom to help gamblers get free help when they need it.
  • A lot of gamblers gambling at casino sites not on GamStop in the UK are using crypto.
  • Besides GamStop, there are other responsible gambling tools like GamBan and BetBlocker.

Crypto gambling is slowly immerging as a new trend. Almost 420 million people in the world use cryptocurrency and many of them love to gamble, meaning many of them would prefer crypto gambling. 

However, crypto gamblers need to play responsibly. Tools like GamStop can help the crypto casino ecosystem and make it sustainable.

GamStop – popular responsible gambling tool

There are dozens of responsible gambling tools and their number is growing. One of these tools, GamStop, has become a choice for many crypto gamblers. But what is it?

For starters, GamStop is not GameStop. These are two completely different platforms. 

GamStop was created in the United Kingdom to help gamblers get a free type of help when they need it. People create accounts on GamStop to ensure they only gamble on UKGC-licensed casinos and betting sites. It ensures they cannot play on unlicensed casinos and sites and the ban can last as long as you want it to last up to 5 years after which you can remove the ban or prolong it once again and again. 

The main benefits are a bit obvious. Gamblers can enjoy safer gambling, period. They can use a free tool to get professional help whenever they need it. Players can also get additional help if their condition is a bit more demanding. All of these things make the gambling ecosystem possible and stable!

There is one issue though. Players can bypass GamStop! It is possible to play at non-GamStop casinos, which are sites that are not controlled by UK or UKGC.

Correlation between crypto gambling and casinos not on GamStop

A lot of gamblers gambling at casino sites not on GamStop in the UK have invested in crypto. They will continue to use it and they adore this idea. See, these people don’t like the limitations UKGC has set. They want and need freedom while playing. Non-GamStop casinos offer just that. 

Using crypto means players can get even bigger bonuses, stay anonymous, and do so much more that are not a thing at UKGC sites. 

However, there are some issues we must mention. For instance, these casinos are not heavily regulated like UKGC sites which means that some of them can be problematic. Sites of this kind also don’t invest in security as massive UK casinos do. 

All of this suggests one simple thing. Responsible gambling tools are even more important at non-GamStop casinos. We can say that they are essential and something you should use in 100% of cases. These tools can keep you safe when nothing else will work. 

Other responsible gambling tools in addition to GamStop

Today when more and more people try to equate cryptocurrencies with gambling, it is important to show that there are already available tools that can cover all the requests. If you think that GamStop is the only tool of this kind, you are wrong. 

As a matter of fact, users have a lot of additional options they can use at any given moment. All of these methods, options or apps if you like have one thing they are designed to do. They can be used alongside GamStop and help a player completely. What this means is that GamStop will cover UKGC sites and another tool will cover all the rest. This combo can make gambling online extremely safe and secure. Anyway, let’s see the most common options you can use. 

  • GamBan

GamBan comes in the form of an app. You can get it on computers and smartphones if you like. The app is not free. But you will get a 7-day free trial you can use to check out the app and see how it works. 

The idea is simple. Once installed, the app will block access to gambling and betting websites. You are done. Additionally, GamStop started blocking crypto platforms and it constantly expands its database. There is no way you can remove the app and continue playing and this makes GamStop so effective.

  • BetBlocker

Betblocker is one of the free apps (for this purpose of course) that is rare today. You can install it right now and set it all up in 2 minutes. Then you will see that over 85.000 gambling sites are not available any longer. Once the time frame you have selected expires, you can remove the app and play again. 

  • NetNanny

This is probably the oldest app of this kind. It was developed in the 90s. Then, it was developed for parental controls which some people used. In the 2000s it added functionality to block gambling and betting sites. 

Netnanny works on all operating systems and it is very effective. Try it and you will see why some people have been using it for years. 

Empowering crypto users and ensuring a sustainable gambling ecosystem

Using GamStop or some other tools we have listed here is needed, especially if you like playing at crypto casinos. These are all tools that can help you when you need help the most. At the same time, these can help you control your gambling desires more so you can play in a clever way.

When using these tools and when you invest some time into learning all about responsible gambling, you can make this form of fun special. You can play and don’t have to worry about gambling addiction or anything similar. 

Another benefit of all this is that the gambling ecosystem will become sustainable. There won’t be a lot of people who have issues while playing, meaning that the whole ecosystem will flourish. Without these tools and responsible gambling, all of this will be much harder and maybe even impossible. 

Conclusion

Responsible gambling tools are one thing we all need. These can make any form of gambling better and safer. therefore, it is important to promote them properly around the world and adopt the available tools with different topics. 

Although all players may want to consider these at some point, crypto gamblers simply must. They are in an ecosystem that is still relatively new, so using all the help they can is important.

The post GamStop & Crypto: fostering responsible gambling for a sustainable ecosystem appeared first on CoinJournal.

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MCADE price prediction ahead of the Metacade Lite launch

  • The Metacade community is only counting days to the launch of the much anticipated Metacade Lite.
  • MCADE price has started responding to the hype on the upcoming Metacade Lite launch.
  • At press time, MCADE was trading at $0.02229, up 5.44% in the last 24 hours.

Metacade is gearing up for releasing its Metacade Lite version to the public soon, details of which can be confirmed in the recent AMA held on 24 May 2023.

As the CEO of Metacade embarks on AMAs to explain the current status of the project, it is important to point out that the project hit all the milestones set in its roadmap for Q1, 2023. The team is currently working to hit the targets set for this quarter including the launch of the Create2Earn platform that will allow users to sample the game-changing gaming experience that comes with Metacade’s unique approach to play-to-earn (P2E).

What is Metacade and what does it offer?

Metacade is a blockchain gaming platform that aims to become the largest Web3 gaming arcade.

At its core, Metacade aims to offer gamers, investors, and developers access to a decentralized gaming hub, complete with the biggest collection of different play-to-earn (P2E) arcade games. It also plans to allow the integration of multiple earning mechanisms for ecosystem players.

The platform also has a utility ERC-20 token, the MCADE token, which is used to pay rewards in the ecosystem and help platform users access services and opportunities including staking and DeFi. In the future according to the project’s roadmap, MCADE holders will also play a pivotal role in running the project by getting voting rights on governance proposals.

For how long will MCADE maintain the current bullish trend?

The crypto markets are expected to enter a new bullish cycle after a gruelling bear market, it is possible that MCADE could lead the charge within the GameFi and Web3 ecosystem. Seemingly, the crypto market has been on a short bearish pullback after what was a very splendid market recovery for the year that saw the likes of Bitcoin and Ethereum recover 70% and 55% respectively.

The recent developments including the recent Axie Infinity’s debut on the Apple App Store, and the reaffirmation by the Japan-based gaming giant Square Enix that it is committed to blockchain and Web3 gaming could help spark new GameFi demand and adoption.

In addition to the developments within the GameFi space, the MCADE token is also likely to benefit from the Metagrants programme that incentivises developers to increase the creation and deployment of games on the platform. However, MCADE’s future is also dependent on the easing of the macro headwinds including inflation to help the crypto market grow.

Jamie Douglas of Bloomberg Intelligence recently said that Bitcoin price could shoot to $18,000 if only 1% of the global bond market value moved to Bitcoin.

Taking all these into consideration including the upcoming Metacade Lite launch that is likely to spur increased interest in Metacade and its native token, the MCADE price is projected to sustain the current Bull Run and possibly hit $0.045 by the end of the month.

The post MCADE price prediction ahead of the Metacade Lite launch appeared first on CoinJournal.