Multichain, a cross-chain router platform, today launched V4 of anyCall, an interoperability protocol that enables cross-chain messages and call contracts from chain A to chain B in one transaction. anyCall can transmit arbitrary data, like smart contracts, NFTs, messages, tokens, data, etc. The anyCall contract includes the following contracts & functions: 1. anyCall function –…
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Markets are cyclical and go through alternating periods of positive and negative sentiment, with price action following the tone across the market. Although these changes appear to be difficult to predict, Bitcoin price is currently following a textbook market sentiment cycle chart from the book The Nature of Risk. If what follows in the book continues across the cryptocurrency market, a major trend change is due. Take a closer look at the market sentiment cycle chart by Justin Mamis. Is Bitcoin Following A Textbook Market Sentiment Cycle? Markets tend to move in the same way. This is why certain technical analysis chart patterns can yield accurate results with an increased probability. When zoomed out, even market cycles tend to advance in the same five-wave structure, according to Elliott Wave Theory. Those who dive deepest into technical analysis become convinced of its power to not only predict market behavior, but human behavior as well. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 Ralph Nelson Elliott who came up with the theory also wrote a book on the secret of the universe he referred to as “nature’s law.” Another author with plenty of stock market experience, Justin Mamis, also recognized these ties and penned the book The Nature of Risk: Stock Market Survival & the Meaning of Life. The market sentiment cycle chart below can be found within its pages. Bitcoin versus Justin Mamis’ market sentiment cycle chart | Source: BTCUSD on TradingView.com All About Justin Mamis And Market Sentiment Cycles Juxtaposed next to the Bitcoin line chart, is the same chart presented by Justin Mamis that highlights the many phases and emotions felt during a market sentiment cycle. At the height of enthusiasm, buying the dip failing to be effective was a sign a trend change was due. Below the highest support lines breaking down caused the market to enter a stage of disbelief. Disbelief turns into panic, and as the asset bottoms out, the market becomes discouraged at the lack of movement. Related Reading | This Bitcoin “Heatmap” Suggests A Blazing Cycle Peak Is Still Ahead At aversion, investors even feel a strong sense of dislike toward the asset and might even want to see new lows as a result. It is at this point when confidence begins to return and bearish traders are left in denial. Justin Mamis is the former Assistant Director of the NYSE Floor Department, former Senior Vice President and Chief Market Technician at Hancock, and appeared frequently in Barron’s and The Wall Street Journal. In his own words, Mamis said in a newsletter: A cycle begins with stocks climbing “a wall of worry,” and ends when there is no worry anymore. Even after the rise tops out, investors continue to believe that they should buy the dips…Unwillingness to believe in that change marks the first phase down: “It’s just another buying opportunity.” The second, realistic, phase down is the passage from bullish to bearish sentiment…Selling begins to make sense. It culminates with the third phase: investors, in disgust,…dump right near the eventual low in the conviction that the bad news is never going to stop… Don’t believe the chart represents what could happen in Bitcoin? Well, then do the conditions in sentiment follow what Mamis told investors? Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
Bitcoin and altcoins are attempting a recovery, but the bulls are likely to encounter stiff resistance at higher levels.
Proof of Learn, a blockchain-based education platform, has now unveiled its first project Metacrafters, a multichain learn-to-earn game that teaches users to write smart contracts and build on-chain. The mission of Proof of Learn is to build a platform that makes high-tech education accessible to people all over the world – and to give employers transparent…
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XRP risks plunging to $0.50 in April as it breaks out of a classic bearish continuation structure.
With the recent crypto market decline, investors have become more fearful of the market. Recorded on the Fear & Greed Index, it shows that this remains an incredibly frightening time for users of cryptocurrencies. In times like these when the prices of digital assets continue to slide down, it is expected that investors become warier. However, this time around, the market had quickly gone into “Extreme Fear” territory with no sign of emerging anytime soon. Scared Of Investing? At the start of the month, top cryptocurrencies such as Bitcoin and Ethereum had begun a recovery trend that would eventually wash over the rest of the market. As prices rose, so did positive sentiment among investors who had flooded back into the market. Not long after though, the market had started one of its signature correction trends that comes with the bull rally and now investors have chosen to retreat instead of risk further downside. Related Reading | CeFi Platform Celsius Restricts Yield Rewards To Only Accredited Investors In U.S. The Fear & Greed Index shows that the market had been on a downward sliding scale since coming out of last week which had ended with a neutral sentiment from both sides of the market. By Monday however, this had quickly turned into fear with bitcoin finally falling to the $43K territory. Tuesday in itself proved to be worse as the market had indeed fallen into extreme fear, leading to a low score of 20. Now, while Wednesday is starting out better than what Tuesday ended with at a score of 25, it still does not spell good news for the short term. When investors are scared of the market, they tend to not put any money into it for fear of losing more. This also triggers people taking profits from the market due to fear of their coins dropping further in value. With such low momentum, prices can suffer more instead of staging another recovery. Is Fear Good For Crypto? When it comes to how the market is feeling towards cryptocurrencies, it can often be a matter of personal perspective. There are those who believe that steering clear of the market while it is fearful is the best bet and to only invest once the prices start recovering. However, there are those who believe the opposite. Related Reading | The Ronin Hack Aftermatch: Axie Infinity’s $1M Bug Bounty Those who subscribe to the “buy the blood” school of thought often welcome downtrends like these since it gives them the opportunity to purchase coins at a “discount.” This mainly comes down to the risk appetite of the investor. Nevertheless, it still stands to reason that some of the largest rallies have come after the market has consolidated from a price drop. This was the case in late February/early March which had seen the market in extreme fear turn greedy very fast as prices began to recover. Total market cap falls to $1.8 trillion | Source: Crypto Total Market Cap on TradingView.com Featured image from Psychology Today, chart from TradingView.com
PRESS RELEASE. Global crypto exchange, LBank, joined Bitcoin Miami 2022 as a first-time sponsor and exhibitor, attracting more than 500 attendees to their satellite event, and announcing their many ambitions in the United States. As one of the biggest crypto events in the US, Bitcoin Miami 2022 gathered over 35,000 attendees, making it the biggest […]
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First Light Games has successfully completed a $5 million private token sale round led by Animoca Brands and Mechanism Capital to develop its play-to-earn mobile-based game, Blast Royale. In an announcement today, London-based game development firm, First Light Games successfully closed a $5 million private token sale in an effort to boost the development and adoption of its blockchain-based mobile game, Blast Royale. The private token sale was led by top investors in the space including Mechanism Capital and Animoca Brands, a blockchain firm that has already invested in over 150 NFT-related companies over the past year. The funds raised will be used to continue to develop the game, attract top talent, and grow the game community. Furthermore, the funds will be used to create new features in the game including tournaments and high-stakes Blast Royales, planned to be launched later in the year as First Light Games plans a push into esports. The private sale also welcomed participation from other top crypto investment companies and angel investors including Dragonfly Capital, DeFiance Capital, Play Ventures Future Fund, Double Peak, Polygon, C² Ventures, Morningstar Ventures, DWeb3, Merit Circle, Ancient 8, and AvocadoDAO. Nick Chong and Santiago R Santos were the notable angel investors in the round. The presence of top and influential crypto investors in the company sets the foundation for a successful GameFi ecosystem on Blast Royale, Neil McFarland, CEO of First Light Games shared. With a shared vision, the investors aim to make “Blast Royale one of the best gaming titles (in the blockchain space)” and provide gamers with a “compelling and fun gameplay that makes Battle Royale game suitable for the Web3 generation,” Neil added. Developed in 2021, during the NFT and GameFi boom, Blast Royale offers users a platform to battle in a royale survival match. The gameplay involves 30 players entering the fighting grounds in a ‘last one standing’ competition to win various rewards. Players battle and use their rewards to build up their characters using NFT items won or collected within the game. The players’ meta inventory influences the quality of items carried into a match and the utility of their character. Blast Royale uses two native tokens, Blast ($BLST), the primary token, and Craft Spice ($CS), the in-game play-and-earn token of the Blast Royale metaverse. The $CS token gives players a wide range of utility within the game including buying enhancing equipment for your character or repairing damaged equipment. Players earn $CS tokens when playing the battle royal matches based on their performance, invested time, and overall effort. The $BLST token is the main token on the Blast Royale marketplace where users can purchase NFTs. Having invested in over 150 gaming and NFT-related startups, Animoca Brands executive chairman and co-founder, Yat Siu believes Blast Royale will transform the GameFi industry with its “high quality of gameplay”. “Given the progress so far and the First Light Games team’s strong pedigree of several iconic hit games, we believe that Blast Royale will be an appealing and compelling metaverse entry for a new generation of gamers,” Siu commented. In a similar breath, the Principal at Mechanism Capital, Eva Wu reaffirmed the company’s goals of investing in the growing crypto gaming industry. “When a space like crypto gaming is in its infancy, it’s incredibly important to back strong thinkers who shape how the space evolves,” Eva Wu said in an interview. “We’re very excited to work with the team [Blast Royale] to tackle what a play-to-earn world might look like.” At the end of Q2 2022, the Blast Royale development team is planning on launching a testnet for the game, which, if successful, will usher in the global launch of the game in Q3. Finally, the team has also added a competitive metagame layer to the gaming equipment, giving players strategic agency over the optimal loadout to bring into battle.
Do you know what Compounding Interest is? Take a look at this picture. Look at that Graph. The blue line is most cryptos. Adding additively on top of itself, always going up slowly, and sometimes disappearing entirely. Wouldn’t it be amazing if someone told you about the red line before it separated from the blue…
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