Category: Cryptocurrency News

Ethereum failed to surpass $2,725 and started a fresh decline against the US Dollar. ETH price could continue to move down if there is no move above $2,500. Ethereum failed to clear the $2,700 and $2,725 resistance levels. The price is trading below $2,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a clear move above the $2,500 resistance zone. Ethereum Price Tops Near $2,700 Ethereum started a decent recovery wave above the $2,500 and $2,550 resistance levels. ETH even cleared the $2,600 level and the 100 hourly simple moving average. However, ether price failed to gain strength above the $2,700 level. A high was formed near $2,729 and the price started a fresh decline. There was a break below the $2,600 and $2,500 support levels. Besides, there was a break below a key bullish trend line with support near $2,500 on the hourly chart of ETH/USD. The pair traded below the 50% Fib retracement level of the upward move from the $2,171 swing low to $2,729 high. Ether is now trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,450 level. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could rise towards the $2,650 level. If there is an upside break above $2,650 resistance, zone, the price could even attempt a move above the $2,700 zone. The next major resistance is near the $2,850 level. More Losses in ETH? If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,340 level. The first key support is now forming near the $2,300 level. It is near the 76.4% Fib retracement level of the upward move from the $2,171 swing low to $2,729 high. The next major support for the bulls may perhaps be near the $2,200 zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $2,300 Major Resistance Level – $2,550

MMI product lead Johann Bornman labeled the integration with Cactus Custody’s DeFi Connector as a “profound DeFi offering for institutions.”

submitted by /u/ShotBot [link] [comments]

ARK Invest’s new report predicts Ether’s market cap will reach $20 trillion and the Bitcoin price will exceed $1 million by 2030 based on BTC’s use cases and how ETH captures market share from TradFi.

The leader of the Nigerian blockchain association, Senator Ihenyen, has implored the country’s lawmakers — currently pushing for the securities law to be revamped — to consider crafting laws that regulate the crypto industry. Proposed Law Does Not Expressly Mention Cryptocurrencies As Nigerian lawmakers debate a bill that proposes a ten-year jail term for operators […]

Despite the fact that the end of 2021 suggested that there could still be some concern in regard to the volatility of the market, there is no doubt that last year was huge for the cryptocurrency industry and one that was huge in general. Indeed, there were a number of different things to look out for including things such as non-fungible tokens (NFTs) and decentralized finance (DeFi), Ethereum (ETH-USD) and smaller cryptocurrencies, however it is was also a year that had plenty of impact on Bitcoin. The cryptocurrency, which had experienced a number of fluctuations over the last 12 months, had managed to hit an all-time high of a price near $69,000 in November, however it had been reduced to around $47,000 recently, leaving its market capitalization to being its second lowest and around 40% according to TradingView data. Nonetheless, this has not stopped many bulls from predicting that Bitcoin will still be able to reach the $100,000 price that many have hoped it would, with many standing strong in their prediction and seemingly having as much confidence in it happening as before. Naturally, there are a number of different factors that many individuals and experts may look to point to when it comes down to trying to back their prediction, with the gambling industry perhaps one of the biggest. Crypto gambling is an activity that is enjoyed by many holders of virtual currency, with the use of a Bitcoin casino continuing to increase due to the benefits that gamblers are able to enjoy when playing their favorite games. Additionally, to further support the suggestion that Bitcoin has benefited from this particular industry and will likely continue to do so, a study by Thomas Conlon and Richard McGee in 2020 has already shown that the crypto token had enjoyed an increase in price once before because of the wagering industry. CryptosRus George Tung told Yahoo Finance that whilst in the “short-term, there may be some volatility,” he felt that in the “long-term, inflation is going to be a continuing issue, and bitcoin is seen as the best hedge against inflation at this point.” Blockstream’s chief strategy officer Samson Mow also appeared to double down on the prediction that Bitcoin will be a six-figure price by suggesting that it could happen inside the next six months. He stated: “We’ll see $100k within the first half of the year.” How did it also reveal that Bitcoin will still be a rather risk-sensitive asset over the short-term, with a number of different factors at play, but also stated: “on a long enough time horizon, [Bitcoin] does its own thing.” El Salvador President, Nayib Bukele, has recently echoed the opinion that Bitcoin will also be able to reach the $100,000 price in 2022, as he made a number of strong predictions whilst taking to Twitter and posting a tweet to all of his followers. One of the predictions that he made that could help the digital asset to become a six-figure coin was that he felt two more countries will adopt the token as legal tender in the next 12 months, thus joining the Latin American country in becoming amongst the first to accept it. Mow highlighted that “[Bitcoin] mining at the national utility level is the first step,” and a number of countries have seen the market resurface. Despite the fact that China banned cryptocurrency mining in June 2021, countries including Canada, Iran, Germany, Malaysia, Russia and the United States have all seen a resurgence in market interest, according to research compiled by the Cambridge Bitcoin Electricity Consumption Index (CBECI). Some would suggest that Bukele’s and Mow’s thoughts are shared, though, due to the interest that they have together after a partnership was announced that would see them offer “volcano bonds”. Half of the billion-dollar sovereign debt would be going towards financing “Bitcoin City ” which would harvest nearby geothermal energy from a volcano to mine Bitcoin. Mow stated that a “zero tax on everything” development zone would help to transform El Salvador into the “Singapore of Latin America,” however it should be noted that the bond is not yet available, as Blockstream continues to work with a number of brokers. The other half of the 10-year bond offering will be converted into Bitcoin, with a coupon of 6.5% being carried over the next decade.

submitted by /u/markpaul00 [link] [comments]

The growing popularity of the decentralized gaming market is driving demand for new infrastructures capable of supporting the deployment of new gaming formats. The DCD Protocol has announced that it is launching a tailored solution that would allow game developers to release their projects using a broad range of convenient and flexible instruments. The DCD Ecosystem development team has announced that it will be deploying a solution that will make blockchain technologies accessible to a wider range of developers. The Protocol was developed as part of an ongoing initiative by the team, which had previously launched specialized training sessions and video lessons on how to create games on the DCD Ecosystem. The development team states that the optimal application for the DCD Ecosystem encompasses any games that can use the capabilities of blockchain to some extent. Game developers are often in need of implementing various blockchain-based tasks, such as filing fully on-chain logic, storing player accounts and lists of in-game items, or developing in-game decentralized exchanges. The DCD Ecosystem will provide such opportunities, as well as the necessary tools along with understandable documentation. The development team is confident that the launch of the DCD Ecosystem will help game developers focus on the quality of the games and will allow them to leverage the capabilities of the blockchain in full. Another feature the DCD Ecosystem will be introducing has been dubbed the up-layer. The DCD Ecosystem team has refrained from the popular Layer-1 and Layer-2 titles, as the solution is being developed on top of existing blockchains, interacting through bridges. The project team is intending on integrating the DCD Ecosystem with the most popular chains in the next two years, allowing the community to onboard seamlessly and enjoy decentralized gaming. Among the interface functions on offer will be basic gaming task toolkits, including VR displays, and other useful features that will allow game developers to tap into the potential of blockchain infrastructures. The DCD Ecosystem is also preparing to enter into partnerships with game studios to deploy some of the games inside metaverse settings. The appropriate architecture is currently being developed to allow such integration. The DCD Ecosystem is aiming at transferring a significant part of blockchain-based gaming projects to its solution or allowing them to take advantage of its ecosystem.

submitted by /u/underdoggmv [link] [comments]

As the NFT and Metaverse gaming space continues to make leaps and bounds in 2022, we are slowly witnessing the evolution of the gaming space – not only in terms of story, character and gameplay but also the underlying economies which form the financial foundations of a given project. One example of this is Wizardia. Wizardia is an upcoming play-to-earn fantasy Metaverse game where players take on the role of unique wizards represented by NFTs and battle each other in a bid to earn valuable resources and level up their NFT avatars. Wizardia is built atop the Solana (SOL) blockchain, a low-fee Proof-of-Stake (PoS) network that rose to become one of the most popular destinations for developers to set up dApps in 2021. Conceptual Art – The Battle Arena While Wizardia gives players the chance to increase the value of their NFTs through standard gameplay, another aspect of the game’s NFT-based economy has drawn attention in recent weeks for the way it generates royalties over time. Earn Royalties for the Game’s Duration Comprising a two-NFT economy, Wizardia’s in-game Wizard NFTs are accompanied by Arena Genesis NFTs – tokens that give holders exclusive rights to earn royalties from all future battles and transactions conducted in the game’s Battle Arena. In essence, this means early investors can purchase Arena Genesis NFTs and sit back and collect ever-increasing royalties as more and more players enter the game world and engage in Arena battles. Notably, holders of Arena Genesis NFTs don’t even need to participate in gameplay, instead, the NFTs are staked in the platform and owners will reap rewards in the form of tokens.                Arena Genesis NFT (1st round) That investment is one that promises to pay off for the duration of the game’s existence. Much like profits generated from the successful activities of a given company, Arena Genesis NFT holders will accrue royalties from in-game transactions as time goes on. A quick glance at Wizardia’s revenue projection calculator reveals the potential royalties for investors who get in during the first round of the Arena Genesis NFT private sale – a figure no less than 100% ROI (return on investment) per month, assuming a player base of 30,000. Please note that this is just a projection that depends on many variables, such as the number of daily game users, number of daily fights, or the Wizardia token price – and no royalties are 100% guaranteed. Revenue Projection Calculator Not Just the Early Bird Who Gets the Worm Conceptual Art – The Battle Arena Potential royalties to be gained from Arena Genesis NFTs fluctuate according to the increasing price of the tokens as Wizardia progresses through each subsequent round of its public sale – of which there are seven. The difference between the cost of the NFTs between round one and round seven of the private sale are quite stark – ranging from $125 per token to $445. However, while the incentive to take part in the earliest rounds of the sale is clearly apparent, the way Wizardia’s royalty generation is constructed also gives late-stage investors a good chance of reaping serious rewards. This is because the value generated from the Arena Genesis NFTs naturally increases as more and more players enter the game world. Additionally, a portion of the royalties generated from all subsequent sales rounds will make its way to the early-stage investors, meaning they will start generating royalties before a battle is even conducted in the game. This novel approach to NFT revenue builds on the royalty structure of popular NFT platforms like OpenSea, where royalties are earned each time an NFT is sold on. With Wizardia’s Genesis NFTs, the tokens needn’t be sold in order to generate continual royalties, but instead act as early-bird royalties in the ongoing progress of the project. What’s more, the prospect of actually selling an NFT on OpenSea – where the market is already approaching saturation point – is never wholly assured. The first phase of Wizardia’s Arena Genesis NFT public sale will be conducted in early February, with later phases of the sale set to be held throughout the early part of 2022. The game’s battle arena game mode is slated for release by the end of Q2 of this year, meaning Genesis NFT holders will be able to start earning passive income from in-game battles very soon. Wizardia is giving away $10,000 worth of prizes to its community. Up for grabs to community members who participate in the airdrop is $10,000 USDT split by 90 randomly selected lucky winners, all distributed on Binance Smart Chain. The airdrop ends on February 7th. Register now to enter the free giveaway.