Schlagwort: crypto business

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Can Metacade Overtake The Sandbox’s Price Prediction in 2023 and Beyond?

The Sandbox rose to mainstream stardom in 2021. However, following SAND’s decline in 2022, many have wondered what the project’s future holds. In this article, you’ll read The Sandbox’s price predictions for 2023, 2025, and 2027 and learn why Metacade could be a much better investment.

The Sandbox (SAND) Has Attracted Some Big Names

The Sandbox is one of the top metaverse tokens on the market, alongside Decentraland. Currently ranked as the 43rd largest token by market cap, The Sandbox is a virtual world that enables users to build and monetize their creations. The Sandbox lets players explore their creativity with the built-in VoxEdit and Game Maker tools. VoxEdit, for example, allows users to manipulate blocks (known as voxels) and generate virtual objects that can be used when creating experiences in the metaverse or sold for SAND tokens. 

Players can buy and sell virtual plots of land represented by LAND NFTs. Despite the ongoing bear market, these parcels of LAND still regularly fetch $1,500, reaching as high as $16,000 at the top of 2021’s bull market (CoinGecko). Given the number of world-famous brands building in The Sandbox’s metaverse, like Gucci, Adidas, HSBC, and Warner Music Group, many have been bullish on their long-term The Sandbox price predictions. 

The Sandbox (SAND) Price Prediction 2023, 2025, 2027

As of early 2023, SAND is trading for $0.70. By the end of 2023, The Sandbox price predictions currently stand at an average of $2.50, or an approximate 260% increase. By 2025, assuming metaverse adoption rates continue to grow, SAND could reach $6.53, rewarding investors that jump in today with around 830% gains. By 2027, the platform will likely have a sizeable player base. The Sandbox price predictions for 2027 place it around the $12 mark, returning around 1600% for today’s investors. 

Metacade (MCADE) Aims To Be Web3’s Home for Play-To-Earn

Metacade is a community-centric platform built for Web3 gaming. Its goal is to be a one-stop platform for all things metaverse and play-to-earn (P2E) gaming, giving players all the tools they need to make the most of these nascent technologies. It offers everything gamers could want from a gaming hub, including forums for discussing the latest titles, leaderboards to help find which games are worth playing, and spaces for reading the hottest P2E alpha. Simply put, Metacade is where you’ll be able to hang out, discuss, and learn how to get ahead in games like The Sandbox.

However, Metacade is taking the extra step to ensure its players receive as much value as possible by leveraging the power of blockchain technology. For instance, players are rewarded with the MCADE token whenever they offer game-beating tips, share in-depth reviews, or interact with the community in other ways. Not only do users directly feel the benefits of their contributions, but other players can use the information shared to their advantage – everyone wins! 

Alongside regular tournaments, prize draws, and competitions, Metacade users will even be able to find work in Web3 with the platform’s job and gig board, launching in 2024. Most anticipated by Metacade investors is the Metagrant scheme. Metagrants enable the community to put the platform’s resources to work by funding cutting-edge game development. 

Given directly to developers, Metagrants are allocated according to which game idea wins the most votes in one of the Metagrant competitions. The finished game is then added to Metacade’s virtual arcade, which it hopes to fill with dozens of community-backed titles over the years. 

Some savvy investors have realized Metacade’s potential and rushed into the MCADE presale. Within 11 weeks, thousands of investors bought around $6.2m worth of MCADE tokens. This has pushed the price of MCADE up from $0.008 to $0.014. 

Metacade (MCADE) Price Prediction 2023, 2025, 2027

By the end of the presale, MCADE will be valued at $0.02. With GameFi expected to take off in 2023, targets have been set for MCADE to reach $0.18 by the end of the year – up 800% from $0.02. By 2025, Metacade’s development will be finished and will likely be home to thousands of gamers. 

Many estimate that MCADE will be worth $0.43 by the end of 2025, returning 2050% for those late to the presale. Finally, analysts predict MCADE could be worth as much as $1.20 by 2027, delivering 5,900% gains in just four years! 

Metacade (MCADE) Has Much More Room To Grow

While The Sandbox’s price predictions certainly have some legs, it’s clear that Metacade has much more potential to grow. As interest in the metaverse and P2E gaming increases, the need for a community space will emerge, and Metacade will be ready to fill that need. Combine that with a token still in presale, and you could be looking at one of the greatest GameFi investment opportunities of 2023 and beyond.

Don’t forget MCADE is currently priced at $0.014. The predictions were based only on the final presale price ($0.02), which means your profit potential could be much higher than stated if you get in at today’s prices. If you’re considering investing in The Sandbox, why not look at Metacade’s presale instead?

You can buy The Sandbox (SAND) at eToro here.

You can participate in the Metacade presale here.

The post Can Metacade Overtake The Sandbox’s Price Prediction in 2023 and Beyond? appeared first on CoinJournal.

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Bitcoin, stocks react to hotter-than-expected CPI data

  • Bitcoin price was trading sideways after hitting highs of $22,300, with major US indexes also down.
  • The markets’ reaction comes after hotter-than-expected inflation data for the first month of 2023.
  • US CPI rose 0.5% over the month and 6.5% year-over-year.

Bitcoin was holding just above $22,000 at around 11:00 am ET, with the flagship cryptocurrency having swung from highs of $22,300 as the broader crypto market mirrored Wall Street following Tuesday’s US inflation data.

Across crypto, Ethereum first ticked closer to $1,570 across major exchanges, rising as much as 5% before the upside cooled to see ETH trade near $1,540 at the time of writing. A similar picture held for Binance Coin, with BNB nearing $300 with about 3.5% in gains before shedding some of the gains.

The action across US stocks also had the major indexes in the green premarket, before broader reaction to consumer price data released on Tuesday saw the major indexes trade lower.

The S&P 500 rose nearly 0.7% but had flipped negative after the latest Consumer Price Index (CPI) data from the US Bureau of Labor Statistics showed inflation picked up over the past one month after consecutive months of declines. The S&P 500 was down 0.6% at the time of this report.

The outlook was similar for the Dow Jones Industrial Average and the Nasdaq Composite, which were down about 0.8% and 0.6% respectively.

Markets react to January CPI data

On Tuesday morning, the US government’s data on inflation showed consumer prices rose 0.5% in January and 6.4% over the past twelve months, higher than the forecast 6.2%. 

Even for the Core CPI, which leaves out the more volatile food and energy components, the readings were 0.4% in January and 5.6% year-over-year.

The data thus showed inflation had picked up in the first month of 2023, coming in hotter than economists expected, with Wall Street reacting lower on the news as investors weigh what this means for the Fed’s interest rates path. Market observers say this could point to a higher for longer path that the Fed has previously pointed out.

Tim Seymour, the CIO of Seymour Asset Management certainly thinks this could be on the cards now.

The post Bitcoin, stocks react to hotter-than-expected CPI data appeared first on CoinJournal.

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SEC ruling on BUSD “makes no sense”, says Truflation CEO

  • Stefan Rust, CEO of Truflation, says the SEC’s ruling about BUSD being a security has no sense legally.
  • The former Bitcoin.com CEO believes there’s a political angle to the action, pointing to Binance’s freezing out of USDC last year as a likely trigger.
  • Rust’s comments follow the New York Department of Financial Services order for BUSD issuer Paxos to cease issuing new tokens.

Binance, the world’s leading cryptocurrency exchange, said on Monday that it would continue supporting the Binance USD (BUSD) stablecoin, but could look at alternatives as a new main trading pair.

The move came after Paxos, the US-regulated issuer of the stablecoin, was ordered to stop minting new BUSD by the New York Department of Financial Services (NYDFS).

It all “make no sense,” says Truflation CEO Stefan Rust

As we reported yesterday, Paxos announced it would comply with the NYDFS order. The company also said it would be terminating its relationship with Binance, but maintained BUSD is not a security. 

Notably, Paxos announced it would litigate to the extent it can, a lawsuit by the US Securities and Exchange Commission (SEC) that labels BUSD an “unregistered security.” Indeed, it pointed out that the SEC had only called into question the BUSD section of the US-regulated company.

Stefan Rust, the CEO of Truflation and former CEO of Bitcoin.com, says the SEC’s action against Paxos does not make sense – legally. He says it all looks like a politically influenced process.

“To many observers, this looks like a highly political play influenced by the fact that trading volumes of USDC – the favored stablecoin of US institutions like BlackRock (which can make or break any economy with its $10 trillion balance sheet) are dwindling in comparison to USDT and BUSD,” Rust said in a comment shared with CoinJournal.

USDC issuer reportedly complained about Binance

Over the past few months, Binance had looked to increase BUSD use across its ecosystem, including through providing no-fee trading on the stablecoin’s trading pairs. The exchange also rolled out the auto-conversion of USD Coin (USDC) and True USD (TUSD) among other stablecoins into BUSD as part of boosting liquidity in September.

It’s a move that effectively “froze out USDC” from the Binance exchange, and has coincided with a period that Circle, the company behind the rival stablecoin, reportedly filed a complaint with the NYDFS over allegations of reserves mismanagement by Binance.

Rust, a leading blockchain entrepreneur and crypto investor,  suggests BUSD’s significant growth in terms of volume, as that of USDC dwindled, may have something to do with the regulatory action against BUSD issuer Paxos.

“It could be possible that behemoth investors in USDC like BlackRock – which directed and brokered the US government’s entire response to the global financial crisis of 2008 – might be keen to halt the progress of BUSD,” the Truflation CEO noted.

“Indeed, the SEC and other regulators have made no secret of their intention to pin Binance’s management team for any number of reasons, from money laundering to flouting US sanctions against other countries (which arguably has nothing to do with Binance as a non-US entity),” he added.

The SEC’s investigation against Paxos and the allegation that BUSD is a security follows comments made in September by SEC Chair Gary Gensler about stablecoins having features that are similar to, or that potentially compete with money market funds, bank deposits and other securities.

In a written speech published on 8 September 2022, Gensler said that these types of tokens, while used primarily as a means to participate in the market, still raised important policy issues.

He noted that if this is deemed the case, then the stablecoin issuers would have to register them as so and provide needed investor protections. He said:

“Depending on their attributes, such as whether these instruments pay interest, directly or indirectly, through affiliates or otherwise; what mechanisms are used to maintain value; or how the tokens are offered, sold, and used within the crypto ecosystem, they may be shares of a money market fund or another kind of security. If so, they would need to register and provide important investor protections.”

On Monday, Binance CEO Changpeng Zhao tweeted that should BUSD be deemed a security, the ruling could have “profound impacts” on crypto development.

The post SEC ruling on BUSD “makes no sense”, says Truflation CEO appeared first on CoinJournal.

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Fantom (FTM) price rebounds ahead of US inflation data

  • FTM price rose modestly ahead of the upcoming US inflation data.

  • It has also done well as traders wait for the upcoming fUSD stablecoin launch.

Fantom (FTM) price made a small comeback on Tuesday as investors waited for the upcoming American consumer inflation data. It rose to a high of $0.4780, which was a few points above this week’s low $0.4138. This price is about 30% below its highest point in 2023.

US consumer inflation data ahead

The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday. Economists expect the data to show that the country’s inflation inched downwards in January as goods prices retreated.

According to Reuters, the median estimate among economists is that the headline consumer price index (CPI) declined from 6.5% in December to 6.2% in January. This will be the seventh straight months that inflation has moved downwards. 

Core inflation, which is an important number that excludes the volatile food and energy prices, is expected to have dropped from 5.7% in December to 5.6%. These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum.

They will also have an important role for other financial assets like stocks and commodities. Their impact is that they will have an impact on the Federal Reserve. Higher-than-expected inflation numbers, coming a week after the US published strong jobs numbers, will mean that the Fed will be more combative.

On the other hand, if inflation softens, there is a likelihood that the Fed will be a bit dovish in its bid to prevent a hard landing. Besides, the yield curve has inverted to the lowest point since the 1980s, signaling that a recession could be coming.

Meanwhile, Fantom price is reacting to news that the developers are working to rebuild the network after the challenges we wrote about here. One of the projects the developers are working on is a stablecoin known as fUSD that will power its ecosystem. The news was recently confirmed by Andre Cronje, an influential figure in the ecosystem.

Fantom price prediction

On the 4H chart, we see that the FTM price has crawled back in the past few days. It has moved from a low of $0.4172 to a high of $0.4827. Still, the coin remains below the 50-period moving average. It has also moved slightly below the 38.2% Fibonacci Retracement level. 

A closer look shows that it is forming a bearish flag pattern. Therefore, the coin will likely have a bearish breakout, with the next key level to watch being at $0.40. A move above the resistance point at $0.50 will invalidate the bearish view.

How to buy Fantom

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 FTM with eToro today

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 FTM with Binance today

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Bitcoin awaits US CPI data; head and shoulders paints a bearish picture

The US CPI data is the main economic event of the trading week. Inflation has been the main driver of monetary policy for more than a year now; thus, every market participant is on standby until the data comes out.

Crypto traders enjoyed a nice rebound of the entire market at the start of 2023. Bitcoin, for example, rallied close to $24k, where it met resistance.

Bitcoin’s adoption by many institutional investors made it sensible to US economic data. In other words, the US dollar’s volatility moves Bitcoin too. Therefore, today’s inflation data is a key driver not only for the fiat currencies but also for the cryptocurrency market because of Bitcoin’s influence on the overall crypto market.

BTCUSD chart by TradingView

Head and shoulders pattern points to a drop below $19k

Crypto enthusiasts cheered the strong start to the trading year as Bitcoin rallied aggressively. But in doing so, Bitcoin only followed the overall US dollar’s weakness seen across the FX dashboard.

If the US CPI report for January shows renewed inflationary pressures, the US dollar should surge across the dashboard.

On such a release, the market should buy the dollar in anticipation of further tightening from the Fed. Hence, the dollar should pressure Bitcoin.

From a technical perspective, there is one head and shoulders pattern that should keep bulls at bay. The market currently consolidates above the neckline, and if the dollar gets stronger after the CPI report, then the pattern’s measured move points to a drop below $19k.

The market should not climb above the highest point in the previous head and shoulders pattern for the pattern to work. More precisely, it should remain below $23,500 for the bearish pattern to remain valid.

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