Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced it plans to launch a $2 billion metaverse fund. The new fund, which would be focused on returns for potential investors wanting to get more Web3-related capital exposure, will focus its activities on companies in the mid-to-late investment stages. Animoca Brands Plans […]
TRON (TRX) took a heavy hit during the first half of November following unfortunate events such as the implosion of FTX, an exchange that was once considered the third largest in the world. According to data provided by Coingecko, from its $0.064 price on November 6, TRX went on a steady decline until it plummeted to $0.046 on November 14. After that, the cryptocurrency managed to stage a rebound and continues to do a relatively good job at recovering its losses. In fact, at the time of this writing, TRON has managed to tally a 19% jump from its November low, trading at $0.054. Over the last two weeks, the digital asset seems to have found its groove as it continues to shake off the negative effects of both the crypto winter and the FTX collapse. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Tron Report Reveals Project Capable of Attracting More Users As another week came to a close, Tron blockchain, via Twitter, shared some important data pertaining to its performance for its community. According to TRON DAO’s post, the project managed to add 1.75 million new addresses within the last seven days, pushing its total tally to 123.3 million accounts. 📢#TRON Weekly Report 11.21 – 11.27 ✅#TRON blockchain height exceeded 46.23 million. ✅The total number of accounts on #TRON reached 123,377,790. ✅The total number of transactions on #TRON reached 4.28 billion. ✅The #TVL on #TRON reached $9.4 billion.https://t.co/29s3o8NKuH — TRON DAO (@trondao) November 30, 2022 Also, during the same period, the total number of transactions facilitated on the blockchain network reached 4.28 billion. In terms of total value locked (TVL), from November 21 to 27, the project was able to hit the $9.4 billion mark after registering an increase of roughly $400 million. Meanwhile, the Tron blockchain height surpassed 46.23 million during the same timeframe. The data, according to Tron, seems to prove that given the right conditions, the project is capable of enticing millions of new users to join its ecosystem. It also indicates there are still many individuals that believe in the blockchain’s potential. 3 Main Problems TRX Is Facing Although it is hovering around the $0.054 at the moment, TRON is not yet out of the woods as there are still challenges that could cause it to plummet once again. According to some experts, the cryptocurrency is left to deal with the fact that many people lost their faith in the digital asset class following the collapse of the FTX exchange platform which filed for Chapter 11 Bankruptcy on November 11. TRX is also facing fierce competition from projects such as BitGert (BRISE) and Centrex (CENX) which are, according to experts, having better adoption numbers when compared to the Tron token. Finally, within the last few weeks, there has been an apparent instability within Tron network as investors panicked when USDD (the project’s algorithmic stablecoin) lost its peg to the US dollar. These could trigger another price dump for the crypto asset, therefore investors and prospective buyers are advised to keep an eye on these to help them with their decision making. Related Reading: Huobi Token Breaches $7 Marker Following Update On This Planned Coin Unveiling TRX total market cap at $5 billion on the daily chart | Featured image from Car and Driver, Chart: TradingView.com
Hong Kong central bank executive looked optimistic about the future of decentralized tech, while the Korean central bank governor has his doubts in the wake of the recent crypto contagion.
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The open-source Open Creator Protocol of the NFT marketplace will enforce NFT creator royalties for new collections that opt-in to the tool.
Huobi Token (HT), a cryptocurrency trading exchange asset with an overall valuation of $868 million, recorded a significant uptick in its price after an announcement made by Justin Sun, the founder of the Tron blokchain. According to data from Coingecko, on November 29, the asset went up by 13% and peaked at $7.22 before entering a correction phase that made it return to the $6 territory. At the time of this writing, tracking from the online crypto information provider indicates the token is changing hands at $6.63, declining by 2.9% during the previous 24 hours. Still, the altcoin is sitting on a 20% gain over the last seven days and has tallied an impressive 44.3% jump for the past two weeks. This momentary surge of the Huobi Token might have been triggered by news of plans to launch a new crypto project. Related Reading: Litecoin (LTC) Continues To Impress With 25% Rally In Last Seven Days Sun Teases Debut Of Dominica Currency (DMC) Using his Twitter account, Sun – who was recently appointed by Huobi to be a member of a new global advisory board – announced the launch of the Dominica coin. The exchange platform confirmed this development with an official statement, saying that the soon-to-be-released digital asset, which will be called Dominica Currency (DMC), will be introduced to the public via the Huobi Prime – the company’s only platform for token offerings. There was no definite timeline mentioned as to when the new crypto will be available but the Bitcoin exchange said it will be airdropped to their users. Along this line, Huobi also said that their users can use their Dominica digital identification documents (DID) to confirm their identities in preparation for the airdrop. This is not the first time that the Commonwealth of Dominica, an island country in the Caribbean, advanced its crypto adoption programs as it has already made TRON and its associated native tokens legal tender within its jurisdictions. As Island Nation Anticipates, Interest For Upcoming Project Grows Although there is no clear timetable for the expected airdrop of Dominica Currency, the excitement for it is undeniable as it comes with a utility feature that is sorely lacking for many cryptocurrencies out there right now. For its part, the Huobi Token is expected to play a vital role for the good performance and overall success of the DMC that is pivotal in giving holders greater chances for higher return on their investments. With this development, HT managed to surge in value. Moreover, its technical indicators are pointing at a further climb, although the volatility of the market can once again obliterate all its recent gains. Related Reading: Bitcoin Could Usher In December Near $18,000 If It Moves Past This Resistance Crypto total market cap at $808 billion on the daily chart | Featured image from Crypto News, Chart: TradingView.com
Galaxy Digital’s CEO Mike Novogratz talked to Andrew Ross Sorkin on CNBC’s Squawk Box and gave his reaction to Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview. Novogratz said that SBF was “delusional” and insisted that the former FTX CEO needs to be prosecuted and further said, “he will spend time in […]
I decided to write this after reading a previous post discussing the viability of Web3 games, which stated that the problem was most weren't all that fun to play. Part of the problem, based on my personal experience, is an uneven battlefield. In most P2E games, whales can often buy expensive assets that confer them…
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PRESS RELEASE. A game-changing Web3 security solution was launched on December 1, 2022. As the digital world is getting more advanced, scammers invent new elaborate ways to cheat web3 users and steal their assets. Smart contracts forgery, phishing websites, airdrop scams, and spamming are just a few of the dangers one faces when browsing the […]
