Author: dfmines

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Rarestone Capital, an active venture capital fund and accelerator, has announced a direct strategic investment in Rainicorn, a multifaceted platform that has established itself as a hub for innovation in the crossover between NFTs and DeFi, with a focus on gamification. The investment, which includes the direct purchase of Rainicorn’s native token (RAINI), is rooted in a common goal to grow and develop Rainicorn’s play-to-earn ecosystem through a community-centric approach. Part of the deal includes hands-on marketing support, including community, socials, and viral marketing under Rarestone Labs, the fund’s incubation arm. The Rainicorn ecosystem, dubbed the Rainiverse, includes the popular play-to-earn trading card game The Lords of Light, which is currently undergoing its first public card pack drop off the back of strong community presales. The competitive trading card game allows players to collect playable NFT cards, which can be used to build decks that will be capable of decimating their opponents in turn-based combat. The game also enables leveling up of cards and includes elements of DeFi, including the ability to stake high-level cards for passive income. These in-game features allow players to earn Photon, the primary game currency, through a variety of strategic and competitive actions, creating earning potential. Rarestone Capital Co-Founder Charles Read explains, “We are extremely excited to form a long-term partnership with Rainicorn. Currently, the top dozen play-to-earn games are processing nearly $1 billion in transactions, despite the market still being in its nascent stages. Given the demand for Raini’s early drops and their team’s vision and execution ability, this partnership is extremely exciting for us.” Rainicorn Co-Founder @Mindspheres says, “We see this partnership with Rarestone Capital as the game-changer that will take Raini to the next level. The level of support and the connections that Rarestone brings to the table is highly complementary to the Raini project, and our vision.” Rainicorn’s ecosystem also includes a cross-chain NFT platform, launchpad, and a marketplace where players can purchase and exchange NFTs. With a team spanning the globe, including Australian co-founders, Raini’s vision is to create a vast and diversified interconnected ecosystem, with an extensive roadmap of innovative features and revolutionary concepts to help drive the space forward.

Solana has been caught in the crossfire as investors woke up to a bloody Monday due to hurdles in the Asian markets. The top cryptocurrencies by market cap are in the red recording moderate to heavy losses in the 24-hour chart. Solana Follows The General Sentiment In The Crypto Market At the time of writing, Solana (SOL) trades at $143,53 with a 10.9% loss in the daily chart. In the weekly chart, the cryptocurrency is amongst the worst performers on the crypto top 10 with a 17.9% loss. After Solana, Polkadot (DOT) is the closest to record similar losses for the weekly chart with 17.6%, followed by Cardano (ADA) with 17.1%, XRP with 16.5%, and Binance Coin (BNB) with an 11% over the same period. Bitcoin and Ethereum outperformed other cryptocurrencies on the weekly chart, with BTC recording only a 4.7% loss. Solana dropped during the weekend following a long period of profits and an-all time high north of the $200 mark. As it has happened in the past, investors seemed to favor BTC and ETH, the largest cryptocurrencies, in expectations of further downside in the macro-economic outlook due to the potential risk of default by Chinese real estate developer titan, Evergrande. Related Reading | Bitcoin Price Sinks 10% As Market Braces For Macro Storm Ahead As seen below, the China 5-year credit default swap has increased, according to data shared by ZeroHedge. This suggests that many investors are betting on the possible failure to honor its financial commitments by the Asian giant. However, Primitive Crypto founder Dovey Wan believes the opposite. Commenting on the Evergrande situation, Wan highlighted that the Chinese market and its companies operate differently than those in the West. Therefore, she expects the situation with the real estate to not escalate to the point of Lehman Brothers, the financial services firm that defaulted in the U.S. during the 2008 economic crisis. Wan said: Evergrande is not a vapor financial co, tho it’s high leveraged real estate developer sill retains good trunk of property/lands+ good cash flow biz like property mgmt co on its book. The situation can trigger macro panic but the substantial threat is far less than Lehman. Bitcoin Holds The Key For Solana In The Short Term? In previous bearish momentum for the crypto market, most of the assets followed Bitcoin. Therefore, BTC’s price could determine what happens to Solana in the near future. BTC stands on critical support in the daily, trading at $43,855, and could find its next support in the high area of $30,000 potentially returning to its previous range. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course However, Solana (SOL) has demonstrated resilience in that scenario, and it could potentially become one of the few cryptocurrencies capable of enduring another major sell-off.

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Polygon, an Ethereum scaling platform, today announced the launch of a $2,000,000 bug bounty program to root out and eliminate potential security flaws in its already audited network. The bounty program is now live on the DeFi-focused bug bounty platform, Immunefi. The bounty program is an open invitation to security researchers to uncover and report…
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The exchange hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring its Lend product to the market.

This debt implosion to me was a black swan anways, I don’t know if there were warning signs prior but i sure wasn’t aware of them. This is not a “dip”, a “correction” or otherwise. The Markets are reacting to a very real threat that could have massive implications. TA is completely out the window…
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