The International Monetary Fund has mentioned it is providing technical assistance to the government of El Salvador in various ways. According to Gerry Rice, a spokesperson for the organization, the group is having talks with people of the Salvadoran government about tax and money laundering matters, including critical issues that the IMF raised in earlier […]
In this sub there seems to be a stigma attached to selling. Every time someone considers selling and attempts to discuss it they get lambasted with abuse and labelled as “panic selling”. Newsflash: EVERYONE that has made money has sold at some point. There’s no problem with selling in circumstances where you’ve actually done research…
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This absolute chad has suggested that a bunch of whistleblowers related to LUNA, Jump, and even FTX, have come forward to spill beans on what happened during the spiral and what underhanded dealings that they may have between each other. He's even gone as far as highlighting the private debts that certain people owe to…
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Hey together, I tried to migrate my old Keystore files to the "My Crypto" Wallet but it didn't work. I created them around 2017 with the official "Ethereum Wallet". I still can use this wallet to open the keystore files and make transactions with my Passphrase, but I cannot migrate them. Is there a easy…
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The gaming industry is pegged to hit the $200 billion mark by 2024 and is constantly outperforming expectations. Play-to-Earn (P2E) is trending in GameFi, besides being a significant catalyst for crypto adoption. According to Triple-A, the total revenue from blockchain gaming has risen from $321 million in 2020 to $1.5 billion in 2021. Blockchain-based games have attracted 1.22 million unique active wallets (UAW) in Q1 2022. Popular titles like Axie Infinity and Decentraland accounted for 22,000 of those. The promise of decentralized ownership, inclusive decision-making procedures, and attractive financial incentives are the primary factors drawing gamers to P2E. GameFi’s success has been a massive push for crypto and blockchain’s acceptance and legitimacy, propelling adoption. GameFi — Gaming That Pays for Real GameFi combines gaming and finance, as the name suggests. It is the financialization of video games using blockchain-based methods to let users monetize their gaming experiences. Play-to-Earn (P2E) is a primary feature of this model. Traditional games have centralized business models where producers retain the maximum profit share, whereas in-game assets aren’t interoperable. Gamers thus have little or no way to monetize grinding or in-game achievements. Moreover, gaming studios have the final say over the game’s development trajectory, the supply of in-game assets, and their use cases. On the other hand, P2E games adopt the principle of decentralization, letting gamers receive crypto-based rewards for achieving in-game goals. Gamers also retain their in-game items—like avatars, modifications, weapons, pets, and land—in non-fungible tokens (NFTs). GameFi thus ensures genuine ownership of in-game assets while making them interoperable and tradable in secondary markets. Crypto Community’s Response to GameFi Projects There is a growing recognition that GameFi boosts engagement in the entertainment sector by integrating gaming and financial processes as giants like Epic Games and Ubisoft are diversifying their ventures to develop blockchain games that support crypto and blockchain-based assets. Games like Fights of the Ages (FOTA) are on a quest to provide more immersive blockchain gaming experiences. FOTA is a AAA multiplayer online battle game with a fantasy universe inhabited by various races. The game utilizes NFTs to allow digital property ownership and let users own valuable assets, collectable through the gameplay. The in-game economy enables players to earn by competing in tournaments and races. FOTA’s metaverse integrates Microsoft Mesh, the world’s first platform supporting Mixed Reality (MR). This provides players with a highly immersive experience, blurring the virtual and real worlds. Final Thoughts GameFi creates an environment where gamers can use their skills to earn crypto while playing. This provides an incentive for gamers and educates them on the benefits of using cryptocurrencies. Gamers also benefit from faster and more secure crypto transactions. This makes gaming a more enjoyable experience since players no longer worry about waiting long durations for their payments. Though blockchain games are still in the nascent stages of development, they are positioned to compete with traditional pay-to-play and free-to-play games while disrupting the gaming sector. The economic incentives they carry will push the adoption of cryptocurrencies, blockchain, and digital assets forward.
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Ripple SVP Brooks Entwistle said that the crypto winter has happened before and will “happen again,” and that people should focus on building instead.
Upon a persistent request from the Terra community, Kwon went against his initial plan and publicly shared a burn address for LUNA on May 21.
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Bitcoin recorded a significant positive divergence early Monday, following seven days of trading below $30,000. The crypto is trading at $30,536.93 at press time, a decrease of 2.5 percent from the previous week, according to Coingecko data. In the preceding 24 hours, the worldwide cryptocurrency market capitalization increased by almost 2 percent, reaching nearly $1.3 trillion. However, the total trading volume of cryptocurrencies was up by more than 28 percent to $62.13 billion. Bitcoin has struggled in recent weeks as the U.S. Federal Reserve has increased interest rates and inflation has remained up, increasing the likelihood of further monetary tightening. Suggested Reading | Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming Bitcoin No Longer A Hedge Vs. Inflation? In the past, Bitcoin was recommended as a hedge against inflation, but in recent months it has proven to be closely associated with risk assets, such as the Nasdaq 100, which has fallen in response to broader market volatility. Over the past 10 days, Bitcoin’s price has been trading flat, consolidating around $30,000. Bitcoin may find it difficult to recapture its former glory, since investors appear to be avoiding riskier assets in the present inflationary environment. According to Mudrex Co-Founder and CEO Edul Patel: “Despite a nearly 3 percent increase over the past 24 hours, Bitcoin was unable to breach the US$30,000 threshold. Over the last week, Bitcoin’s price remained unchanged, as it struggled to move beyond its support.” The Dow Jones Industrial Average (DJIA) has decreased for nearly eight consecutive weeks, and major indexes have followed suit. As the S&P 500 declined, a strong correlation between it and the crypto markets became clear. BTC ending the week at $30,000 represents its seventh straight weekly closing in the red territory, according to Darshan Bathija, CEO and Co-Founder of Vauld. BTC total market cap at $578 billion on the daily chart | Source: TradingView.com For his part, popular crypto analyst Lark Davis writes: “Bitcoin is exhibiting a massive bullish divergence on a daily scale. The last time something similar occurred was in 2021. Could this portend a massive rally?” Suggested Reading | Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery Crucial Next Two Weeks For BTC Genesis Global Trading’s Noelle Acheson and Konrad Laesser said in a Saturday note that the price of Bitcoin will likely fluctuate between $29,000 and $31,000 over the next two weeks. Some economic-data releases, such as U.S. gross domestic product (GDP) or inflation figures, “may alter the narrative,” according to Acheson and Laesser. According to analysts at WazirX Trade Desk, BTC’s monthly trend has broken below the ascending channel pattern. Meanwhile, the next level of resistance for BTC is anticipated to be $40,000, while the nearest level of support is $24,000. Bitcoin’s monthly relative strength index is currently at 47, its lowest level in more than two years. The support level for the RSI is 43, according to analysts. Featured image from Al Bawaba, chart from TradingView.com
