Category: Cryptocurrency News

Interest in the revolutionary technology “NFTs” has been growing over the last few years; in many countries, it peaked last year, in others, such as Singapore and the United Arab Emirates, the NFT boom is now.  as interest grows, so does the number of people hearing about and buying NFTs reaching well beyond the world of crypto enthusiasts. Since the real hurdle to expanding a market is turning curious people into investors in order to raise the market cap of NFTs, it’s the new investors that need to be supported. The problem is that the current poor user experiences in the NFT space are pushing away new investors and lowering the market cap. Research shows that the barriers to NFT adoption are reliability, education and necessity. These barriers have severely limited the adoption of NFTs. One columnist for The Daily Eastern News claims that NFTs are “really confusing”, while other writers criticize NFT marketplaces for being too technical, confusing and fragmented across Web 3.0. Among the different marketplaces, many have attempted to remove barriers to entry for new NFT investors. One such example is Opensea which added MoonPay as an option to purchase cryptocurrencies. By using MoonPay, an investor can directly add funds and purchase NFTs through their app. However, MoonPay is banned in numerous countries and states. Other issues include lack of education, reliability and support. Currently, no marketplace offers a solution to any barrier, let alone all of them. The real challenge for users is that NFTs marketplaces are all on separate blockchains, which creates a huge fragmentation of communities, fanbases, art and assets. Therefore, what is urgently needed to raise the market capitulation of the NFT space is an all-in-one platform that removes barriers and then educates and supports new users. Enter Ludo, a revolutionary all-in-one Web 3.0 app for play-to-earn projects and NFTs. Ludo aims to be the gateway to the metaverse and all things NFT. Using the platform users can discover, collect, showcase, promote and earn. Ludo is aware there are barriers to NFT adoption and aims to remove them all, as shown in their Manifesto, which states: “At Ludo, we don’t simply want to be part of this New Renaissance. We want to shape it.”. The question is, how is Ludo tackling the barrier to NFT adoption and thus raising the NFT market capitulation? Reliability Ludo removes the inaccessible nature of other marketplaces by creating a hub of all things NFT. Instead of a user being separate from other marketplaces, creators and buyers, Ludo offers a platform that displays information from every marketplace. With Ludo, a user’s first NFT experience is simplified to accessing their app and finding the NFT they want. There’s no need to search across blockchains to search for a marketplace. Education Ludo provides a clean and sleek interface that is clearly labeled and newcomer-friendly. The app avoids technical jargon and explains terms in simplified ways, such as concert ticket NFTs and gaming NFTs labeled as ‘experiences. Further, the search tools are simplified with filters such as blockchain, cost and type. The NFTs have clear icons dictating NFT price, blockchain and other important information. Information on NFTs is compiled, allowing users to educate themselves and learn more. Necessity NFT-based content is rapidly growing as music, gaming, metaverses and physical assets join the market. The necessity comes from the growing fragmentation of the NFT space. As iterated previously, Ludo provides an an-all-in-one hub of information, creation, advertisement, community and content. As the NFT market grows, so does the need for Ludo. Thus, Ludo removes every barrier by offering a seamless and necessary platform that is reliable, educational and supportive. By providing a high-quality, accessible and supportive platform, Ludo provides greatly enhanced user experiences. Resulting in new investors who are more likely to stay, purchase and grow the NFT market. The poor user experiences of newcomers are a thing of the past as Ludo supports the growing NFT market capitulation. Find out more about Ludo and apply to be an alpha tester on their website here.   Image: Pixabay

PRESS RELEASE. The Vietnamese music celebrity’s videos have garnered close to 2.5 billion lifetime views on Youtube. RACA Hits a High Note Radio Caca (RACA), one of the world’s leading Web 3.0 companies, today announced the collaboration between Radio Caca and Vietnamese celebrity singer Son Tung M-TP, who will join its United States of Mars […]

Bitcoin has now started another recovery trend that has seen it mark its position above $30,000 once more. This is a welcome development after the market had seen various crashes that have sent investors into a panic. However, while investors heave a sigh of relief as the digital asset has begun to recover, other concerns have arisen in the market, including if the uptrend will continue and if bitcoin has already seen the bottom of this crash. Did It Mark The Bottom? The recent comeback has indicated that bitcoin has either marked the bottom of the dip or may be well on its way to posting further losses. But there remain some indicators that show that maybe indeed, the bottom has been reached. One of these has been that the Bitcoin RSI remains in the firmly oversold territory. Now, with this indicator in this region, there is not much that sellers can do to bring the price of the digital asset further down, especially with the powerful recovery that was just recorded.  Related Reading | Bitcoin Funding Rates Remain Unmoved Despite Plunge To $30,000 Even after falling below $25,000 for the first time in more than a year, bulls had not completely relinquished control of the market to their bearish counterparts. What this shows is that bitcoin had likely reached its bottom when it touched the $24,000 and the strength displayed to bounce off from this point suggests that there is a bit of momentum left to carry it further. BTC price recovers above $30,000 | Source: BTCUSD on TradingView.com Coincidentally, the digital asset has now turned green on the 5-day moving average. This indicator may not pack as much of a punch as its 50-day counterpart but still indicates returning bullish sentiment among investors. If this continues, and the bottom has in fact been marked at $24,000, then recovery towards the $35,000 may be imminent. Bitcoin Outflows Grow Outflows from centralized exchanges for bitcoin had been on the rise when the price of the digital asset had been falling. This would prove to only be a temporary problem though as the outflows had begun to take over inflows once more. For the past 24 hours, the outflows from centralized exchanges had reached as high as $3.5 billion. This surpassed inflow volume by at least $190 million for the same time period. Related Reading | How Long Will The CryptoWinter Last? Cardano Founder Provides Answers What this indicates is that investors are once again beginning to take advantage of the low prices that presented themselves during the crash. Accumulation trends like these are usually expected when the value of an asset is slashed in such a short amount of time.  Outflows from centralized exchanges recorded for the period of May 11th and 12th came out to about 168,000 BTC, a significant amount given the current bear trend. Although BTC continues to flow into exchanges, long-term investors seem to be taking advantage of these cheaper prices. Featured image from BBC, chart from TradingView.com

We weren’t even above $30K for over an hour and some people started posting that the bull run is back Have you pumped a tank of gas the last 2 months? Have you done a full grocery store run in the past 2-4 months? Have you looked at ANYTHING other than crypto prices? Nothing out…
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submitted by /u/allstater2007 [link] [comments]

As we all know, things have been pretty hairy in crypto this past week! But with prices dropping, I feel this is a good time to accumulate. I’m planning to DCA gradually over the coming year to take advantage of lower prices but also account for volatility, which is high and likely to remain high…
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The worst is yet to come for Bitcoin price performance, multiple sources warn, despite the turmoil at Terra slowly passing.

The downfall of Terra calls into question the real-world utility as well as the long-term viability of algorithmic stablecoins.

Suffering the effect of the current bloodbath in the crypto market, Bitcoin’s (BTC) price on May 12 hit its lowest valuation of $26,350 since December 2020. The ongoing bearish trend has remarkable similarity with the previous mid-season bearish trend that lasted from May to June 2021. In both market crashes, Bitcoin’s price broke the resistance level of $30,000. Recently, it had dropped more than it reversed back in June 2021 when the BTC’s valuation stopped losing at $29,800. In contrast, its price in the current market clash has touched the $26,3000 level. Related Reading | Dogecoin Has Dropped 90% Since “The Dogefather” Debuted On SNL Several macroeconomic factors impacted the crypto market in both instances. For example, before 2021’s bearish trend, Chinese banks prevented using crypto by disallowing crypto services for the state’s financial sector. Then Elon Musk added fuel to the fire by reversing his decision to include Bitcoin for Tesla payments. Similarly, the distortion of COVID-19 caused some major countries to step back from the blockchain industry; thereby, the BTC price plummeted dramatically. Likewise, in the most recent downtrend, geopolitical conditions and macroeconomic facts have decided the fate of Bitcoin. First, the Russia-Ukraine conflict immensely affected the crypto price, with regulators imposing strict rules day by day at a time when Bitcoin is starting to grow worldwide. Then legal ambiguity and Fed regulation of digital assets further plunged back Bitcoin price. Bitcoin Holders Rushed To Exit Their Assets Crypto investors have been withdrawing their holdings after the recent slump, and many still hold on to losses and expect crypto prices will rock on again in the future. According to stats, 16,967,726 wallet addresses currently took losses and broke previous records. Crypto history has seen a similar peak on 19 Mach 2020. The unusual behavior of the crypto market compelled investors to liquidate their assets, neglecting the losses they had taken. That’s why the figure for the following metric has decreased. Now, the number of crypto traders holdings 1K+ coins in their wallets has reached a low of 2,234, and most importantly, this figure was recorded on May 11. Again, May 11 set a new record of transactions in the Bitcoin network as crypto holders rushed to exit their investments. It has reached a 4-year new high of traded volume with 175,146.8 BTC. The recent volume of committed transactions has eclipsed previous highs. Related Reading | TA: Bitcoin Gains Momentum, Why Break Above $30K Is Crucial Considering the present situation of the crypto market, the host of The Wolf of All Streets Podcast, Scott Melker, commented that “the entire market is reeling.” He added: I think that markets are in a full irrational panic. The pendulum has swung to extreme fear, as it always does. This causes people to sell assets at or near the bottom. Featured image from Pixabay and chart from TradingView.com  

Cryptocurrency markets were mostly in the green on Friday, as DOT was up by nearly 40%, moving away from an 18-month low. Although SOL, AVAX, and MATIC all rose by over 20%, it was SHIB that was one of the standout gainers in today’s session. Polkadot (DOT) DOT was one of today’s biggest gainers, as […]