This week marks week 4 for CoinQuest! The play-to-earn crypto games I've come across didn't get me excited, so I'm building the game that I would want to play myself. The game is hosted on xDai, and every week the top players get airdropped prizes, with updates coming in daily, come stop by and leave…
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I thought it was a hack, too. It still might be, but the account that funded it has made 83,000 transactions today. That seems significant. I wrote up a post on Medium, but Im just dumping it here to avoid link spam. I could be misunderstanding something and end up looking dumb, but I'll take…
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On the 4th anniversary of the exchange, CoinEx has launched the “Meet the CoinEx Team” anniversary celebration together with its global partners as a gesture to thank and give back to users. In Nigeria, CoinEx has hosted the “Festival of Love” charitable event. On December 20, to celebrate its 4th anniversary, CoinEx held the “Festival of Love” charitable event at Uniuyo Teaching Hospital, Nigeria. Orok Godspower, one of the exchange’s Nigerian Partners represents CoinEx donated 700 care packages to children in the hospital on behalf of CoinEx. For the kids, these are heart-warming gifts. CoinEx contributes to charitable causes and offers a helping hand through real actions. On the same day, Orok also went to the University of Uyo for the Festival of Love, which featured lotteries, games, creative dancing, and quiz contests. By encouraging the locals to follow the exchange’s SNS account, produce songs about CoinEx, and answer quizzes for rewards, the event helped them learn more about CoinEx and become new users. At the end of the event, all users present received a 4th-anniversary gift package from CoinEx, and the game winners got custom-made CoinEx gifts like T-shirts and hats. With joint efforts by the Nigerian partners and CoinEx, the Festival of Love was a great success. Other than the offline charitable event in Nigeria, which was a great success, CoinEx also held a meet-up in Minneapolis MOA, US on December 21. Since its inception in 2017, CoinEx has always been trying to build a global presence for its products. The Nigerian Partners are key to this globalization strategy. Apart from marketing promotions, CoinEx has also been doing its part to contribute to charitable causes worldwide. The Festival of Love held at Uniuyo Teaching Hospital fully demonstrates the exchange’s commitment to its social responsibilities. Furthermore, the event also brought more attention to the health sector in Nigeria and improved the recognition of CoinEx among local users. During the last four years, CoinEx has always put users first while serving a global audience. Along the way, the exchange has experienced many surprising changes and advancements. CoinEx now supports 16 languages, offers over 400 first-rate token services, and lists nearly 100 contract markets and almost 800 spot markets. Meanwhile, over 6 billion CET have been burnt. These solid advancements are all backed by joint efforts made by CoinEx and Nigerian users around the world. In the future, CoinEx will keep offering more user-friendly, more stable trading environments and services for its global users in a world full of both opportunities and challenges. We look forward to meeting more users in Nigeria.
On-chain data shows Bitcoin leverage ratio has hit a new all-time high (ATH). This may mean that a price correction could soon follow. Bitcoin Leverage Ratio Reaches New Highs, Correction Incoming? As pointed out by an analyst in a CryptoQuant post, the BTC leverage ratio has made a new ATH recently. This increases the possibility of a correction happening soon to flush out all the excess leverage. The “all exchanges estimated leverage ratio” is an indicator that estimates how much leverage is used by Bitcoin investors on derivatives exchanges, on average. There are two related metrics here. The first is the “open interest,” which measures the total amount of futures contracts currently open in the market. And the other is the “exchange reserve” that tells us how much BTC is stored in derivatives exchange wallets. The value of the leverage ratio is calculated as the open interest divided by the exchange reserve. With the help of this metric, it becomes possible to tell whether investors are currently taking low risk or high risk. When the value of the indicator rises, it means investors are taking on more leverage. High values of the metric may mean the market is currently over-leveraged, which could lead to higher volatility in Bitcoin. Related Reading | Quant Explains How Large Bitcoin Leverage Ratio Can Help Turnaround Price On the other hand, low values of the indicator imply there isn’t much leverage in the market right now. Here is a chart that shows the trend in the BTC leverage ratio over the past few months: Looks like the indicator has recently hit a new ATH | Source: CryptoQuant As you can see in the above graph, the Bitcoin leverage ratio has been on the rise lately. Just recently the metric also achieved a new all-time high. Related Reading | Growth Of Bitcoin ETFs & Other Instruments Doesn’t Support Supply Shock Narrative The quant believes that such high values of the ratio may mean that a correction in the price of the coin could soon come, wiping away all the excess leverage with it. BTC Price At the time of writing, Bitcoin’s price floats around $50.9k, up 11% in the last seven days. Over the past thirty days, the crypto has stacked 6% in losses. The below chart shows the trend in the price of BTC over the last five days. BTC’s price surged up a few days ago, but has since moved sideways | Source: BTCUSD on TradingView Bitcoin has established a footing above the $50k price level in the past few days, but it’s unclear at the moment when the coin might retest higher levels. If the leverage ratio is anything to go by, another correction might soon wipe away this recovery instead. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
Metaverse: a digital universe. Infinite possibilities for its users, and for a brand’s revenue too. 2021 has set solid grounds for NFTs, GameFi and the metaverse to bloom into money trees. Many people still ask “What’s the point?” with every blockchain-related launch from major brands. The gaming industry takes the spotlight as Gucci, Dolce & Gabbana, Ralph Lauren, Balenciaga, Adidas, and many other famous fashion brands and designers are racing to launch their own digital clothing on different platforms. It might sound silly, but if look at what people were already paying thousands of dollars for mostly to brag about it, it’s not such a strange concept for the same thing to happen in the digital world. And socially, it might come with a redefinition of identity and reality. If you could be anybody and anything, what would you look like? This is the kind of curiosity that the metaverse explodes, and the luxury industry is ready to market this avenue. Related Reading | Metaverse Race Continues: Chinese Internet Giant Baidu Registers Trademark Into The Metaverse Profit The metaverse is only starting to take form and we cannot fully know what it will look like, but the concept of “avatars” is already getting big. Nowadays, there are virtual couture houses where users can buy or design garments for their digital persona. These avatars are the digital version of their users; they can do everything humans do daily and more. A big difference is that when you sell something to a digital self, you won’t need to take into account the many costs and issues from the physical world –like shipping, fabric, damaged items, etc. The new generations like Gen Z are native to the internet, TV, and video games. They were raised while looking at screens. These were babies surrounded by iPads, tables, and other items distant from the stereos and first iPods older generations grew up with. This means that Gen Z’s relationship with digital reality is different, and they require a marketing strategy adapted to their interests. Virtual items have been the perfect gateway. Ever since Morgan Stanley investment bank strategists said on a note that the metaverse could mean over $50 billion in revenue for the luxury industry over the next decade, brands have started to race even more vigorously than before. The total market of luxury brands could expand by more than 10% in approximately eight years. Reportedly, one in five gamers from the Roblox platforms update their avatars every day. Add up the next generations to join, which will likely be even more adapted to digital reality. Understandably, the modern fashion industry is enamored by how much revenue it’s about to see. Is It A Cute Fit Or Is It Just From The Metaverse The items that can change the appearance of an avatar are called ‘skins’, and this is what brands like Balenciaga –who partnered with Fortnite– are currently focusing on as a marketing strategy. The designer Charli Cohen, who partnered with the department store Selfridges and the company RYOT Lab to design a virtual Pokémon-related collaboration, talked to Euronews about her personal views and projection for the metaverse fashion: Identity has evolved – there is no longer a line between the physical and digital ‘us’. The streets have moved into games and social media – and accurately taking your visual identity into these spaces matters as much as it does IRL. She further stated that “Interoperability is going to be a major focus for digital fashion in 2022 – the ability to take your digital wardrobe across multiple games and social spaces.” Bloomberg reported that, amongst the brands that joined in during 2021, the Gucci garden Roblox pop-up sold one of its digital bags for $4,000. Burberry designed playable NFT characters called Shaky B for Mythical Games and the collection sold for around $400,000. And the cherry on top of the metaverse-involved luxury industry, Dolce & Gabbana sold an NFT collection of nine pieces for around $5.7 million. And this is barely getting started. Related Reading | Only In Crypto: A Croissant Explains Web3 And NFTs To Elon Musk
As new cryptocurrency storage offerings emerge, users must carefully weigh several factors before making their choice.
The way I understand it when a transaction is reversed AMP is liquidated from the pool of stakers, distributing the loss and thus decentralizing the risk of fraud while providing security to merchants. But what happens to the fraudulent actor? Do I just get a free coffee (or car, or house)? For instance, what's to…
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None of my ETH owning friends can answer this so maybe someone here can. Catch me if im wrong here. Also Im not trying to be an ass i just genuinely dont know much and cant find info about this. It seems to me that hypothetically Say I am a healthcare tech company looking to…
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