Bitcoin, the top asset in the industry has noted a sharp fall in prices over the last 24 hours. At press time, the king-coin depreciated by almost over 9.7%. Bitcoin dropped its value by almost $7,000 and was exchanging hands at $38,233.95. This marked an almost six-month low for the coin. This price level is the lowest ever since the first week of August last year. Following Bitcoin’s price action, altcoins followed suit as a majority of them were seen trading in the red at the time of writing. The global cryptocurrency market cap was at $1.95 trillion after a considerable fall of about 7.7% over the past day. The global crypto cap hadn’t dipped below the $2.11 Trillion mark in over 3 months now. This major plunge in value across the broader cryptocurrency market had caused roughly $200 Billion to leave the market. Ethereum, which is the second-largest cryptocurrency in regards to market capitalisation also registered a tumble of about 8% in the last 24 hours. Related Reading |TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term What Could Have Potentially Caused This Big Dump The bears had taken over the market, however, it isn’t safe to assume that the market would continue with a bearish outlook just yet. This could also be a price correction from which Bitcoin and major altcoins might recover over the upcoming trading sessions. This retracement in Bitcoin’s prices from $43,000 could have happened for a number of reasons. Needless to say, crypto markets are volatile, however, current price movements of the major cryptocurrencies can be tied to a couple of recent developments in the crypto space. This sudden substantial sell-off in prices could have been caused due to stock market weakness after the US Federal Reserve introduced high-interest rates and tapered the stimulus. The Fed hiking the interest rates in the form of tightening the overall monetary policy has, in turn, affected the unregulated market of cryptocurrencies. The cryptocurrency industry has also suffered the pangs of other recent regulatory measures. The most recent one is Russia’s blanket ban which has rocked the global cryptocurrency market. Other regulatory measures which have been set in motion to curb the rapid growth of digital asset has also had negative effects on the prices. Securities and Exchange Commission has signaled at scrutinising cryptocurrency exchanges. Environmental factors have also raised eyebrows of regulatory bodies, European Securities and Markets Authority (ESMA) wishes for the EU to ban the proof-of-work model. All of the above-cited reasons have sent shock waves across the crypto industry causing the fear index to point at 19, a number that corresponds to “Extreme Fear” in the market. Related Reading | TA: Ethereum Nosedives, Indicators Show Signs of Larger Downtrend Bitcoin Price Analysis: Crucial Trading Levels to Watch Out For Bitcoin was priced at $38,233.95 after the coin nosedived close to 9% at press time. The asset flashed a death cross, which is considered to be extremely bearish in nature. The prices were beneath the 20-SMA line, indicating that sellers were responsible for driving the price momentum in the market. Source: BTCUSD on TradingView.com The Relative Strength Index hurtled as it reflected the excessive selling pressure in the market. Currently, Bitcoin’s RSI was hovering beneath the 25-mark which meant that the asset was oversold and undervalued. The support level for the coin stood at $37,982.40 and a push from the bears could make BTC trade at that aforementioned level. The Average Directional Index was near the 50-mark, implying a strengthening of the current price trend in the market. The resistance price level for the coin was $39,829.16. Featured image from The Motley Fool, chart from TradingView.com
The post Cardano(ADA) Price Slides Below 2-Month Low! Will It Revist the Strong Support at $1? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Cardano price spiked heavily amid the recent announcement of the very first DEX on its blockchain SundaeSwap. However, now when the DEX is live, the ADA price is yet again scumbling down the support levels. While some believe the asset could flip the downtrend soon, yet the technicals point out towards a deep bearish well …
The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers, according to local media. Transactions between individuals through these platforms are of particular interest as the regulator believes these carry risks of financial losses and fraud. Central Bank Asks Russian Banks for Details on Crypto-Related Transactions In late […
Twitter users reacted to the most recent Bitcoin price dump below $40,000 with various levels of emotion.
PRESS RELEASE. According to Hoo users who participated in AMM (Automated Market Maker) test, each liquidity pool of Hoo has listed quantitative data, such as total liquidity, 24H transaction fee, 1 day and 7 days annualized return for users’ reference. Compared to on-chain DEX providing liquidity such as Uniswap, users can operate at the Hoo […
CasperLabs is building an open-permissioned blockchain protocol and will be a service provider to China’s Blockchain-based Service Network.
Global crypto users could top a billion by the end of 2022, according to a new report by Crypto.com.
The Bitcoin economy is enabling more people to choose their own adventures around the world and optimize their lifestyles.
Crypto proponents point their finger to the Fed interest rate hike, Wall Street and Russia as the prominent reason behind $500 billion crypto market wipe off.
Bitcoin price action visits levels below $38,000 for the first time since August as losses continue to mount.
The post Apart From Bitcoin, Many Altcoins Were Doing Good! What Actually Went Wrong? Here’s What Next! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The crypto-verse witnessed yet another market crash on Thursday, which has wiped out approximately $20 billion in market cap in the last 24 hours. The crash has pulled down the majority of blue-chip projects which were hovering near their ATH. Polygon, Harmony, and Fantom tokens lost 10.19%, 14.56%, and 11.21% in their valuation. Veterans across …
On the brighter side, DeFi will continue to expand and adapt, with DAO governance eventually becoming a major driver of activity.
The race to set up the building blocks of the metaverse is on and many companies are hard at work establishing the world’s first open-source, decentralized virtual universe. This race has in part been galvanized by the rise of NFTs (Non-Fungible Tokens), whose values have shot up in price in direct correlation with rising cryptocurrency prices. One of the biggest initiatives out there currently working to establish a metaverse with a play-to-earn gaming model is the SIDUS HEROES project. This is a first-of-its-kind Web Graphics Library (WebGL) and massively multiplayer online role-playing game (MMORPG) platform set in an outer space metaverse scenario at a time when machines have merged with living things. Inside the SIDUS HEROES universe, life, as we know it, has changed beyond anything we’d recognize today, and the technology, having permeated everyday life, has passed the point of no return. The game provides players with the adventure of interstellar exploration and a battle royale experience, as well as the opportunity to build social, political, and economic partnerships within the game’s ecosystem. In this metaverse with its play-to-earn economy, players fight for scarce resources that are scattered throughout its universe. The platform’s economy is supported by a two-token system – one that is used in payment for work or services rendered and the other to enable voting as members of the platform’s decentralized autonomous organization (DAO). What Exactly is SIDUS HEROES? At its core, SIDUS HEROES is an MMORPG that’s built using the play-to-earn model, which means it incorporates aspects of decentralized finance, NFTs, and blockchain connectivity. By doing so, it hopes to establish a thriving metaverse economy. SIDUS HEROES is a new type of video game where players get to earn real rewards for their efforts or actions in the game. Thanks to the incorporation of NFTs into its blockchain, each player gets ownership rights over the in-game assets they either earn as rewards or purchase using the platform’s native tokens. The game’s internal economy is built with tangible value in mind, thereby making a substantial contribution to the leisure economy in which players can earn a living from simply playing games and interacting on the platform. What’s more, SIDUS HEROES takes the entire concept to an entirely different level owing to an infrastructure that allows players to engage with the platform, without having to download sophisticated applications onto their PC, Android, iOS or Mac devices. With a simple click of a button, players can begin experiencing the SIDUS HEROES universe using any browser, since the platform comes with a Web Graphics Library (WebGL). How the SIDUS HEROES Game Works As mentioned earlier, the game is set in a futuristic universe inhabited by 12 races. There are different communities within the game’s metaverse based on the different races. The features that come with a player’s avatar are determined by the race it belongs to. Due to the different races, the gameplay involves clashes and battles between the races. Players can form groups with other individuals from different backgrounds to push a common agenda within the SIDUS HEROES game. Players can build fighting legions, do battles with other players in the Arena or challenge other players to a duel. Other players may instead choose to explore the SIDUS HEROES metaverse and seek out adventures or become outer space pirates who plunder the virtual seas. Explorers traveling through the SIDUS HEROES universe also get to discover hidden gems in the form of monsters and other space creatures that can be tamed, bred, and used in battles. These in-game space creatures are bought as NFTs and can be traded for other digital assets within the platform’s ecosystem. What’s more, players with a creative bent can become farmers, builders, and creators using the platform’s NFTs infrastructure to mint new in-game assets that can be sold within the platform’s ecosystem. SIDUS HEROES Tokenomics The platform’s economic model influences the gaming experience and is tied to its play-to-earn model, which is designed to incentivize players to keep coming back to the platform. The team behind the platform believes that the incentives built into the metaverse are enough to keep each player engaged for at least 3 years, thanks to the earning opportunities they’ve incorporated into it. Players don’t just earn from fighting, there are rewards to be had from contributing to the labor market through the platform’s supported professions, which depend on where the player prefers to operate. Each profession has an important role in the game’s ecosystem. For this reason, the SIDUS HEROES platform features a dual-token economy. Its two native tokens are the SIDUS and the SENATE. Both tokens act as the platform’s internal currency and can be used to make purchases. However, only the SENATE token can be used to buy premium assets such as virtual plots of land and spaceships or station modules within the game. The SIDUS token, on the other hand, is primarily used to purchase wearable NFTs for a player’s avatar, as well as other enhancements and equipment within the game. When it comes to the platform’s governance and decision-making through the DAO, players holding the SENATE token get to vote on various changes to the SIDUS HEROES universe. Payments for other internal services and platform commissions are made with the SIDUS token. Both tokens benefit from a deflationary process, which creates positive pressure on the demand for the platform’s in-game assets. The maximum supply of SENATE tokens stands at 300 million and 30 billion for SIDUS tokens. NFTs in the SIDUS HEROES Metaverse Non-fungible tokens are a key aspect of building any metaverse and the team behind the SIDUS HEROES project has brought together numerous artists and developers to design a unique NFT concept. Within the SIDUS HEROES metaverse, every in-game asset, whether it be a spaceship, a character, or a piece of equipment, is an NFT. The platform uses a proprietary blockchain network in addition to WebGL technology, allowing every player to have easy access without the need for additional sophisticated devices or software. WebGL makes it possible for each player to dive into the game and experience the incredible 3D graphics that make up the SIDUS HEROES metaverse, using only a simple browser. This makes access to the platform’s NFTs very easy, especially for a global audience who is eager for a simplified way to own and trade NFTs. Not only can NFTs be bought and sold on the platform’s marketplace, but there are also special edition NFTs. Overall, the platform features 3 NFT collections which include the SIDUS NFT HEROES, the SIDUS GENESIS NFTs, and the SIDUS ACADEMY NFTs. The SIDUS NFT HEROES features a collection of 6,000 unique characters and ownership of each NFT from the collection can get a holder an in-game character or a ticket to the SIDUS GENESIS game. The SIDUS GENESIS NFT collection originates from the SIDUS NFT HEROES collection. This set features a new collection of NFT cards with 3 levels of rarity. Each rare card can give a holder entrance to the game. Then there is the SIDUS ACADEMY NFTs which are a set of NFTS that will transform into in-game characters giving owners access to the SIDUS HEROES metaverse and game. SIDUS HEROES Partnerships and Future Outlook Going forward, the SIDUS HEROES team plans to continue its partner-building strategy with high-profile investors and the most popular YouTube creators. In this way, the project can drum up support with the help of social media influencers and prominent crypto and blockchain VC firms. So far, the team has partnered with quite a number of notable figures in the blockchain industry, including the fast-growing VC fund Anti Fund, founded by Geoffrey Woo and Jake Paul (the famous YouTuber and entrepreneur). Apart from Jake Paul’s contribution, the SIDUS HEROES project will also benefit from influencers such as Alex Becker, MrBeast, and EllioTrade, who collectively bring with them an audience of over 120 million. In the second quarter of 2022, SIDUS HEROES will expand its universe with the addition of new star systems, the launch of a mobile web version, and the launch of a reputation reward system for those loyal to the SIDUS token. Developments are also underway to establish a launchpad for players, giving them away to raise capital and support for their own in-game projects. Overall, the SIDUS HEROES team is busy at work building the platform and ensuring that the tokenomics model is stable. The platform’s roadmap envisions a future where NFTs will be used in various ways, including for the purchase of virtual garments, land, avatars, homes, and other items within the game. The intention is to introduce a type of gameplay that’s designed to incentivize players to go beyond seeking entertainment, one that empowers them to become investors and entrepreneurs in their own right.
The Turkish President welcomed Nayib Bukele to Ankara for an official state visit. Anyone expecting a Bitcoin talk left disappointed.
On Thursday evening around 10 p.m. (EST), the price of bitcoin fell beneath the $40K zone for the first time since September 21, 2021. During Friday’s early morning trading sessions, bitcoin plunged to a low of $38,250 per coin. Furthermore, the market capitalization of the entire crypto-economy has slipped under the $2 trillion mark, down […
Google has eyed on cryptocurrency offerings for a long time, supporting a couple of projects and businesses. This time, the US tech giant decided to take the first major step. Google is launching a division dedicated to develop a wide range of financial services including blockchain and cryptocurrencies. In an internal email to Bloomberg, Vice […]
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Money On Chain protocol enables the creation of new Stablecoins Tokens, allowing transactions of innovative financial systems to be free from the volatility of the current cryptocurrencies markets enabling a world where transactions are instant, cost-efficient, and free from the volatility of the current cryptocurrencies markets. Furthermore, this platform enables international trade to be frictionless […]
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Early stage fundraising is always risky. Solv has a solution for early stage crypto companies, or any company that need to take on cash without risk – convertible vouchers! It is a simple concept. Companies need to take on capital to expand. Pretty easy to understand. But – the fundraising process can be complex. The […]
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The post This Is Why Ethereum Price Will Not Fall Under $2.7k! ETH Bulls Eye For 100% Upswing! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Ethereum is likely to resume its bull run in a tick as the asset has reached its 5-months low of $2.827k. The star altcoin has experienced approximately $193.32 million of liquidations in 24 hours thereby losing almost $5k in its price valuation. As the asset’s hash rate is at ATH and funding rates are positive …
The central bank of Laos has issued licenses to two cryptocurrency trading platforms. Lao Digital Assets Exchange (LDX) and Bitqik are now the only two licensed entities that can offer full brokerage and trading services in cryptocurrencies and other digital assets in the country. 2 Cryptocurrency Exchanges Authorized in Laos Laos’ central bank, the Bank […
Thai ruling party MP calls for due diligence from Excise Department to study the crypto market carefully before imposing any tax
The post Will The Current Crypto Crash Leave Top-Tier Altcoins In Jeopardy? Is An Alt Crash By 50% Programmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The world of digital coins has been going distant from its inherent traits, as the industry is now more prone to economic activities around the globe. In the interim, protagonists from the crypto town break down events from the past year, for a thorough analysis of the market cycle. What has been astonishing for the …
Difficulty follows the hash rate to hit levels never seen before, underscoring miners’ faith in long-term profitability.