Category: Cryptocurrency News

Tesla and Microstrategy have a combined impairment loss of almost $1.5 billion —will they HODL on?

If there is one thing that current blockchains lack, it is entertainment ecosystems. The entertainment industry, valued at $2.2 trillion, has the largest combined audience of any sector. And bringing that on the blockchain can open up tremendous opportunities and benefits for the masses. CUBE is one such project bringing entertainment to the blockchain through its P2E metaverse setting. It is a game Launcher for P2E games developed by Netmarble F&C, Inc. Netmarble is the company behind popular titles including “The Seven Deadly Sins: Grand Cross” and “Blade & Soul: Revolution.” This platform allows players to enjoy all P2E games on a single platform. Furthermore, it values and promotes player experience with optimized crypto game features. The best part, however, is its ecosystem partners of CUBE. The platform is one of the few projects to partner with some of the biggest names in Web2 and Web3. In addition, it is backed by some of the top-notch crypto investors and projects. An All-in-One Play-to-earn Platform CUBE is a gaming marketplace for P2E games. It curates the best P2E games with player-friendly features optimized explicitly for users. One can easily download the application on any device to begin playing games on the platform. It also allows players to purchase NFTs (in-game items) and trade them on its NFT marketplace with other players to earn crypto. Moreover, the platform includes DeFi services like liquidity and staking pools where players can earn passive income. The CUBE wallet is the platform’s gateway for accessing all DeFi services, including storage of NFTs and crypto. Further, its DEX facilitates the swapping of game tokens to the platform’s native token $ITAMCUBE. The platform, ultimately, is an all-in-one blockchain gaming ecosystem. Beyond that, the platform creates gaming guilds and provides services like auto-translation chat and live streaming. It is an ecosystem where users can experience the best gaming environment setup while learning about new games. As part of its mission to power Web3 gaming, the platform is set to launch its first game, Golden Bros. It will be a strategic PvP battle game where players can earn for winning contests. The platform’s roadmap also includes The Seven Deadly Sins: Origin and 10+ games to be released on the app. The overall ecosystem will be powered by the $ITAMCUBE token, which will have a variety of utilities across the ecosystem. The Strength and Support: CUBE 2.0’s Ecosystem Partners If the P2E component is one of CUBE’s strengths, the project’s ecosystem partners are another. The project has collaborated with some of the best Webtoon studios, innovation companies, game development firms, entertainment studios, and crypto exchanges. CUBE has partnered with over 30 firms to bring their vision of the P2E ecosystem to life. Redice, Kidari Studio is two well-known webtoon content powerhouses supporting the platform. Unity Technologies is a video game development company behind CUBE games. Moreover, leading the innovation aspects are Megabox, a multiplex cinema chain, and Music, which is the world’s first music copyright investment platform. Further, Studio Lululala and H&Entertainment are some popular entertainment agencies backing the project. Adding the crypto flavors are Binance, Crypto.com, Kucoin, and Gate.io. And giving the platform marketing push are BY4M and Next player, leaders in marketing and market trend analysis. Many partner ecosystems have contributed to the platform’s growth: Hyperithm, AhnLab Blockchain Company, KICA, and THE CAMP. Bluemotion, Flint, Floppy Games, chorokbaem, Tableone, CAST, Ace Factory, Taewon Entertainment, and D-Origin are some of them. Building a Single Unified P2E Space CUBE’s vision is to build a single one-stop solution for P2E lovers. With services like DeFi, NFTs, and P2E, the platform aims to create a robust blockchain gaming ecosystem. While the platform’s initial offerings will include entertaining games, the platform also intends to provide broadcasts, webtoons, and dramas for people of all ages. It plans to become the go-to entertainment solution in Web3. The only industry that can attract the masses is entertainment, and CUBEaspires to make this happen to Web3. Check out CUBE and follow their socials to stay updated on the latest developments.          

The crypto bloodbath has left thousands of traders in a bad way. A rapid decrease in price has seen more than 240,000 traders rekt in the span of 24 hours. As the downtrend continues, more investors are added to the long line of losers, most of which have been long traders. As it stands, there are now almost a billion dollars that have been liquidated in the market so far and this number continues to climb with bitcoin declining below $24,000. Over $940 Million In Crypto Liquidated Over the last 24 hours, the liquidations that have rocked the crypto market have been nothing short of brutal. Most of the liquidations have come from the largest digital assets in the space but Bitcoin has borne the brunt of it once more. The long traders who were hoping for further price recovery had been hit hard in the space. Although the majority of liquidations have been long liquidations, it doesn’t mean that short traders have been spared either. What has occurred has been that as the price fluctuations continue, a lot of traders have been blindsided and had their positions liquidated in a flash.  Related Reading | U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend So far, there have been a little over 253,000 traders liquidated in the past day alone but these numbers are rapidly growing. Data from Coinglass shows that $596.99 million in longs have been liquidated, accounting for 63.25% of all rekt volume. While $346.86 million in shorts have been liquidated, making up the remaining 36.75% of losses. Market cap losses more than $100 billion | Source: Crypto Total Market Cap on TradingView.com Bitcoin, Ethereum, Record Massive Losses As expected, the big players have seen the most losses in the past 24 hours. What is more interesting is the volume of digital assets that have been lost by traders. For bitcoin alone, there have been more than 16.84K BTC liquidated. This comes out to $399.38 million. As for Ethereum, it tells an almost identical story with 298.96K ETH liquidated which totals $356.82 million. Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors The smaller altcoins have not been spared from the onslaught either. Solana which has been one of the worst losers when it comes to the market downtrend has seen this translate into liquidations. With the digital asset finally dropping below $30, long liquidations have ramped up, leaving traders losing 699.32K SOL or $18.59 million in the past 24 hours. Other top losers include FLM with $11.99, GMT with $7.86 million, ADA with $7.53 million, and TRX with $5.85 million. Other notable assets also recorded losses to a significant degree with XRP, LUNA, DOGE, and AVAX seeing $5.54 million, $5.19 million, $4.84 million, and $4.72 million in liquidations respectively. Litecoin completed the top 12 with liquidations of $4.60 million. Featured image from Chemistry World, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

The USDT stablecoin issuer Tether denies any correlation between its investment in Celsius and its reserves or stability.

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Chinese mining chip designer Nano Labs has applied for an initial public offering (IPO) in the United States to raise $50 million on Nasdaq amid sluggish market conditions.

Hi — I am thinking about paying a contractor who wants to get paid in Eth. If I do this, I would like to use an Amex to purchase the Eth & send to his wallet. A lot of the exchanges/services don't seem to accept Amex. Is there one that does? submitted by …
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Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers […]

New generation Bitcoin mining machines would remain profitable even if the BTC price crashes by another 50%.

Here's something I just thought about. Everyone and their mother knows Tether isn't backed by USD 1:1 as they have never been properly audited. Everything in the crypto market is propped up by this shady stablecoin, yes even Btc. I think if it somehow collapsed then all things considered, we maybe actually have a scenario…
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