Jumat, 01 Oktober 2021

Cardano Rebounds Towards $2.5 To Reclaim 3rd Spot From Tether, How Long Can It Hold?

Cardano has begun another rally that has positioned it comfortably above $2. This recent change comes after the digital asset had taken a beating down over the past few weeks that has placed it in a continuous downtrend. Cardano was not isolated in this as the broader crypto market had seen numerous crashes and dips that dragged their value down. But as the trading day draws open on Friday, the crypto market has made significant recoveries that have pushed the market back into the green.

In the early hours of Friday, ADA price climbed about 8% to once again break the $2.2 resistance. The brutal September market saw the asset close out the month trading as low as $2.02, imposing significant sell pressure on the market. The asset remains neutral on the 50-day moving average and is down on both the 5 and 20-day moving averages.

Related Reading | EMURGO To Invest $100 Million In Cardano To Bolster DeFi Adoption

Indicators point to a test of the $2.5 resistance point if current momentum keeps up. With the new month starting with a deviation from September trends, a balancing out can be expected while the price rediscovers a bounce point to kickstart another rally. As the market opens up for the first trading day of October, it will be a tug-of-war between bears and bulls as each side struggles to swing the price its way.

Cardano Shrugs Off Bears And Reclaims 3rd Position

Cardano which had traded lower than its new all-time for the better part of September had finally lost its footing as the third-largest cryptocurrency by market cap on Thursday. As the market suffered, Tether had bounced back up to the third position while BNB and ADA traded in the red. But this take-over was destined to be a short-lived one.

Related Reading | Charles Hoskinson To Launch Three-Time Grammy Nominee Paul Oakenfold’s Album On Cardano

Hours after Tether had taken the third spot, the market had begun another recovery. Top coin Bitcoin had recorded a recovery of up to 10% and the altcoin market was quick to follow its lead. The market cap of ADA shot up along with its growing prices, bringing its total market cap back up above $70 billion. Pushing Tether back down.

ADA price falls from $2.24 | source: ADAUSD on TradingView.com

ADA recovery still remains threatened by bears until the asset finds its stronghold following the sharp increase in price. Maintaining its hold at the $2.2 trading range is crucial if the asset is to continue its ascent towards $2.5.

Cardano is trading at $2.21 at the time of writing, losing about 2% of its recovered value in the early morning. The market cap currently sits at $70 billion with a 24-hour trading volume of $2.8 billion.

Featured image from CoinCodex, chart from TradingView.com

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Bitcoin Jumps 10% In 24 Hours, Dead Cat Bounce Or Real Move Ahead?

Bitcoin has jumped more than 10% in the last 24 hours as the coin’s price reaches $47.5k. Past pattern may shed light on whether this is just a dead cat bounce or a lead up to a real move up.

Bitcoin Netflows Of Past Dead Cat Bounces Compared

As pointed out by a CryptoQuant post, a look at the BTC netflows of the past cycles may reveal the pattern that dead cat bounces have followed historically.

The Bitcoin exchange “netflow” is an indicator that’s defined as the difference between the inflow and the outflow.

When exchanges observe higher inflows compared to the outflows, their reserves gain a net amount of BTC and the netflow shows positive values.

On the other hand, higher outflows lead to a net amount of Bitcoin leaving exchanges, and so the netflow takes negative values.

Sustained negative values of the indicator have usually been bullish for the price of the coin as they imply that there is a buying pressure in the market while positive values can be bearish.

Now, here is how the 2018 dead cat bounce looked like with the netflows:

The Bitcoin netflows during 2018

As you can see in the above graph, the indicator showed highly positive values during the formation of the dead cat bounce in 2018.

Below is another chart, this time for the year 2019:

The dead cat bounce of 2019

Similarly to the other chart, here too the move up ended up as a dead cat bounce as Bitcoin inflows dominated on exchanges.

However, as soon as the netflows started decreasing and eventually turned negative, the price saw a sharp increase.

Related Reading | Quant: Bitcoin Indicators Now Look Similar To Q4 2020, Big Move Ahead?

Now, here is a chart of what happened in 2017:

Bitcoin price in 2017 vs the netflows

Here when the peak happened, the netflows were also highly positive and so the price fell. But the inflows also sharply dropped off soon after and what followed was a big price move up.

Related Reading | Bitcoin Bearish Signal: On-Chain Data Shows Whales Have Started Selling

Finally, how do the 2021 netflows look like?

Bitcoin netflows right now

The peak that formed after the ATH this year was indeed a dead cat bounce as the highly positive netflows confirm. However, it’s different this time.

The netflows look to be severely negative now. With these values, it looks more likely that the trend will be similar to 2017 where negative netflows took the price up.

At the time of writing, Bitcoin’s price floats around $47.5k, up 15% in the last seven days. Here is a chart showing the trend in the price of the coin over the last five days:

BTC's price surges up | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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The Virtual New York is Sold Out, But What Remained Then?

We have good news and bad news. The virtual New York you’ve been waiting for is finally here, but it’s already sold out. On Next Earth, the NFT-based replica of our planet, some of the most expensive virtual real estate was in the digital replica of New York. Some lucky metaverse New Yorkers already own the likes of Central Park.

That said, virtual Earth is big. With any area of Earth open for sale, there’s a powerful opportunity for NFT collectors to buy their own slice of the virtual planet.

How Much Is Digital Land Really Worth?

Every metaverse has its own NFT economy. The one in Next Earth has already sold over $1.7 million of virtual real estate. This figure includes not just the likes of Central Park and the Metlife building, but virtual lands around the world.

The value of digital land comes from three sources: scarcity, location, and demand. The more rare the land, the more valuable it is. But if you can afford to buy virtual New York City, then congratulations! You’re one of the virtual world’s wealthiest people.

Scarcity is naturally tied to location. That said, even if you buy a plot of virtual land in the middle of nowhere, you will soon be able to create pixel-based land art, resources, and more on it, which means that any plot of land can have utility and value.

But there’s more to real estate than just location and scarcity. It also depends on how much people are willing to pay for it. In the case of digital New York City, this is an important distinction to make. Do people want something small (like a house or apartment) or do they want a slice of the city itself (like Central Park or Times Square)? This will affect how much you have to pay for your piece of virtual land.

Virtual Land Beyond New York

Even though New York is one of the most famous parts of the virtual universe, it’s not the only piece of virtual real estate that people are buying.

There are other parts of New York, like the Appalachian and upstate New York, or you could buy pieces of Paris and San Francisco. The metaverse is largely defined by its NFT-based digital real estate. As with any real estate market, location matters. Let’s dive into some other locations.

Virtual Washington is an area that spans from the Washington Mall to the US Capitol to the White House. It’s a huge stretch of virtual real estate, with its own distinct landmarks and architecture. And people are paying big money for it, because the underlying NFTs represent the most iconic architecture of Washington DC.

Virtual Paris is attractive to digital sightseers because of its famous landmarks, like the Eiffel Tower or Notre Dame. The NFTs for these virtual buildings may one day be re-sold at eye-watering sums. In a similar vein, there are also beautiful castles that are being bought — presumably by NFTs collector who wants a slice of history in this digital world.

Meanwhile, the famous Arc de Triomphe in Paris was originally bought for $100, and then re-sold on the NFT marketplace for an incredible $3,400 – on the day of the marketplace launch!

Most Expensive Countries

These are just a few examples; every geographical region has its own virtual real estate market where you can buy land with NFTs attached to them. Some of Next Earth’s most valuable virtual lands are in Vatican City, Monaco, and Macao.

The Vatican is being bought by metaverse collectors for its beauty and rarity, including major pieces of Vatican real estate such as St Peter’s Square and the Apostolic Palace. These areas are where the most famous Catholic landmarks are located, including St Peter’s Basilica and the Sistine Chapel. People are paying handsomely for virtual views of this historic place. As of writing, Vatican City tiles are selling for over 42 BUSD a piece, representing a 42,000% growth!

When you think about luxury, Monaco probably comes to mind. From the views of the ocean to the yachts cruising around, this small city-state has been very successful in marketing itself as a place where the ultra-wealthy can go to live out their dreams. The real estate prices for these virtual places are high because they’re so rare – Monaco is only so big.

Macao is another metropolis that has its own digital real estate market, which spans from the casinos to the waterfront to the historic center of Macao and beyond. Ultimately, Next Earth presents many opportunities for crypto enthusiasts to invest in a variety of environments that you can’t easily visit (let alone own) in the physical world.

 

Photo by Brandon Jacoby on Unsplash

 



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The 100x ROI for Gamezone’s $GZONE Confirms the Viability of Blockchain Gaming

Traditionally, an IDO will give investors a new token that has future profit potential. However, with Gamezone and $GZONE, the concept goes much further than that. It is a way to earn passive revenue, generate profit potential, and access the future of blockchain gaming rolled into one.

$GZONE Profit Potential Doesn’t Trigger A Sell-Off

Historically, numerous new token launches have surged in value and saw early investors liquidate positions relatively quickly. It can be hard to pass up on a 20x from one’s original investment, as it represents a significant profit. For GameZone’s native $GZONE token, investors treat the market somewhat differently. Even after a 100x ROI, very few people intend to sell their tokens. Nevertheless, you cannot underestimate the long-term potential of this asset.

The current 100x ROI is not surprising either. GameZone is developed by the BlueZilla team, which has launched various launchpad services across prominent blockchain ecosystems. Their latest venture for Velas, dubbed VelasPad, noted a 150x ROI within the first two days, indicating there may be more to come for $GZONE. So even though the platform’s focus is different, the long-term approach can bring continuous value to the token.

As $GZONE acts deflationary, it can be rewarding to hold for the long term. Stakers will earn revenue from every sale that occurs and get a cut from the fee charged to those who unstake early. Moreover, those who hold the token for the long term can unlock extra benefits, including access to new games, expansions, and Initial Game Offerings organized through GameZone. There is little incentive to consider $GZONE a “flippable” token, as the fees for selling [early] and the long-term rewards are put in place to incentivize holding.

Following this successful IDO on Bluzilla’s inhouse Launchpads, the team can continue building its suite of services. The GameZone initiative is about more than a fancy website, as the BlueZilla group aims to provide various tools for developers and communities. Blockchain gaming is a prevalent trend that will likely gain even more traction in the next decade.

Why GameZone Is A Big Deal

Seeing the $GZONE IDO do a 100x ROI in the first two days is not surprising when looking at the bigger picture. GameZone encompasses a suite of tools to fuel the development and growth of blockchain games. That includes support through incubation, funding rounds, and a Grants Program. Supporting game developers across any stage of project building is crucial to unlocking the next level of innovation and revenue potential.

Moreover, GameZone has different “levels” of development. During level two, the team will launch multiple white-label solutions to help developers expand their game and community. Solutions may include NFT lending, onboarding models, and new revenue-sharing options. The GameZone vision is to offer an end-to-end solution to catalyze growth and development in this nascent space.

An extra incentive for developers is how they gain access to BlueZilla’s network and resources. It is not always about money, but also legal, technical, and other forms of help, assistance, and advice. BlueZilla’s network spans dozens of partners and supporters across various industries, all of which can offer fresh insights for companies or teams building the next blockchain gaming unicorn.

Make sure to keep an eye on GameZone’s Twitter, Telegram, Telegram Announcements, and Medium channels for the latest updates!

 



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Sports Tech Startup Bownce Leverages Blockchain to Bring a New Form of Motivation to the World of Fitness

The importance of physical activity has been dramatically underestimated these days and largely forgotten by many of us due to our busy lifestyles. However, giving up the comfortable sitting lifestyle for more physically engaging activities will benefit millions of people, and Bownce offers an appealing and affordable solution.

The busy lifestyle, combined with many other responsibilities, tends to push even the very thought of leading a healthy lifestyle in the background. We cannot always find the motivation to try and fit it into our schedules, but that is OK. Again, it is a matter of making choices and sacrifices, although that doesn’t mean you should push physical activities aside entirely.

However, a sports tech innovative startup, Bownce, thinks that this is the very thing we lack — the motivation itself — which is why it decided to offer it through blockchain technology. Combining a psychological aspect with an innovative IoT sports device will make you rethink sports and physical activities altogether. Engaging in physical activity can prolong your lifespan.

The creative minds and experts behind Bownce understand that health is essential to many people and that sports are the key to a healthier lifestyle. However, since many can’t motivate themselves to do sports, the project aims to do it for them. More specifically, Bownce’s team has built a new and accessible workout tool that lets users see data, progress, and obtain tips for future optimization through a companion mobile app.

Bownce firmly believes that sports should be easily accessible anywhere and everywhere. Moreover, the company released a sports IoT ball that allows users to engage in fun challenges and compete with others. The competitive aspect of Bownce’s product can bring together people in ways that were not possible prior. To Bownce and many others, challenges are what make it fun to work out and train. Additionally, getting rewards like professional players makes these “workouts” more exciting and engaging. It is in our human nature to keep pushing for higher scores and different goals and reap the rewards.

What is Bownce?

Bownce is a sports tech startup established in 2019 in Germany that focuses on offering a new way to view fitness and lifestyle to its users. The project prepares for market entrance around Spring-Summer 2022 and is currently developing the right sports equipment to inspire people to lead healthier lifestyles.

The sports tech startup’s team will launch Bownce, a digital IoT device, which was showcased during the AIBC conference in Dubai. This sports device is filled with microtechnology that will allow users to track their performance during exercise and monitor hits, power, speed, precision, and more. Of course, all of this data will synchronize with the project’s smartphone app via Bluetooth. In addition, players will gain support from Bownce and the community to increase their fitness level and relieve stress. That latter aspect, the emotional benefit Bownce’s double punching ball can provide, should not be overlooked.

Based on current statistics, consumer desire to perform fitness activities outdoors has risen significantly in recent months. As many as 47% of people would prefer to train outside and elsewhere, rather than returning to the gym. Additionally, 37% of respondents have canceled their gym membership or contemplate doing so in favor of outdoor activities.

Bownce aims to create a unique environment that welcomes everyone, regardless of their fitness level, age group, nationality, and location. Users from across the globe are welcome to join, while the project aims to inspire them to train, challenge themselves and others, and work out to meet and exceed those challenges. Moreover, players can engage in global competition through sports events. Participants can earn crypto tokens, adding a financial incentive to helping people get more fit.

Overcoming challenges

When new products come to market, building up a community and customer base from scratch is essential. One key challenge is finding that market and audience, although that applies to any sports tech startup bringing something innovative to the table. Additionally, the Bownce community plays a crucial role in this ecosystem. Every community member can support and inspire others to use Bownce’s IoT double punching ball for their benefits, whether for fitness, emotions, fun, or otherwise.

Combining microtechnologies with emerging technologies like crypto and blockchain is difficult enough, but convincing the community that this is a product worth their time might be even more of a challenge. On top of that, there is the need to differentiate themselves from others with a unique brand appearance, preparing a good promotion strategy, and alike, which most businesses have to face.

Despite the challenges, the concept of being part of a community encouraging a healthier lifestyle is appealing. Additionally, users can exchange stories and experiences with others, strengthening the ties that bind.

Creating an exercise-oriented space

Bownce has a unique approach to exercising and working out. The team behind the project believes that the lack of such a space is one of the biggest reasons why people give up on their healthy lifestyles. As such, there is a lack of motivation, and they can’t afford to motivate themselves due to their busy schedules.

However, by connecting them to a worldwide community that shares the same goals and beliefs, presenting them with challenges, achievements, and rewards, the project hopes to change this and help people prolong their lifespan by engaging in sports activities and achieving hours of fun.

Interestingly, Bownce doesn’t have any competitors, although it does have particular market companions. It was inspired by projects that proved that there is a big demand out there for sports activities in home environments. As new trends emerge in fitness and healthcare, it is crucial for companies and startups, like Bownce, to get a head start in these segments. The demand for working out at home gains more ground, and Bownce’s product fits that narrative rather well.

All in all, Bownce has tremendous potential, yet gaining widespread consumer traction will remain the top priority. However, as a unique and worthwhile venture, it will certainly attract attention, which encourages its developers to keep focusing on their work and the idea of making the world healthier than ever. Furthermore, the bonus of earning crypto tokens can serve as an incentive for users to stick with their fitness activities for longer periods.



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Is the Future of the NFT Metaverse Self-Built Worlds?

‘Metaverse’ is a term that has recently become ubiquitous in crypto, doubtless due to the success of immersive virtual projects like Decentraland and Iluvium. The metaverse describes a vast ecosystem of often interconnected virtual environments, where players can interact with one another, explore parallel digital worlds, and buy and trade tokenized collectibles with real-world value.

The metaverse concept is not native to crypto, incidentally – the term comes from Neal Stephenson’s sci-fi novel Snow Crash, published in 1992. Three decades and a raging pandemic later, the metaverse concept is gaining ground as a range of virtual experiences become available, many of them built on blockchain rails.

Even social media giant Facebook is positioning itself to capture a share of the market, with Mark Zuckerberg claiming ‘we will effectively transition from people seeing us as primarily being a social media company, to being a metaverse company.’

Build Your Own Metaverse

Into this fast-evolving milieu comes Planet Sandbox, a metaverse project developed by The Minders Studio and backed by over two dozen VC firms. Currently gearing up for an IDO on October 2, Planet Sandbox shares many of the hallmarks of existing metaverse games – the lurid vistas, varied terrain and coveted collectibles – but introduces new features, most notably the ability for players to build and customize their very own sandbox worlds.

What does this mean, in real terms? In essence, players can access a building toolkit to customize every aspect of their universe, tweaking the geographical characteristics such as weather, topography, even gravity. If this evokes the plot to Christopher Nolan’s Inception, you’re on the right lines. Only Dom and Mal never monetized the worlds they created…

Once constructed, domain owners can determine the rules for games conducted within their boundaries and invite players to participate. Both the land and the collectibles within it can be leased or sold in exchange for cryptocurrency, incentivizing creatives to design the best, most profitable sandboxes in the expanding metaverse.

Planet Sandbox is, at heart, a play-to-earn game – the sort that has given rise to the term ‘gamefi’, used to describe projects interweaving gaming and decentralized finance (DeFi). But unlike many of its contemporaries, Project Sandbox isn’t just geared towards players; it’s also pitched at would-be game designers, VR architects, artists, and NFT traders.

While some users will exclusively build and profit from their creations, others will compete to claim and earn NFT weapons and accessories through in-game quests and battles. These battles can be against rival players in diverse sandboxes or against NPC enemies that tirelessly stalk the landscape. Those interested purely in game-play can browse sandboxes, find their favorite, and participate in shooting games, car races or quests to earn prizes.

A World Unrestricted by Physics

As time goes on, and the Planet Sandbox community expands, worlds are likely to become more diverse, challenging and lucrative – particularly with the popularization of sophisticated VR/AR technologies currently being developed by Apple, Amazon, Microsoft and Google.

Like many of its contemporaries, Planet Sandbox has a governance token, PSB, which is used for rewards, platform governance and also to cover NFT transaction fees. In the near future, players will also be able to stake PSB tokens to earn a share of fees processed by the network. An additional token, PULV, is used to purchase consumables for use within the metaverse.

Planet Sandbox’s integrated 3D marketplace, meanwhile, facilitates all trades in the game, with NFTs variously representing mountains, lakes, helicopters, tanks, weapons, gasoline, armour – the list goes on.

The appeal of metaverses such as those created by Planet Sandbox is universal: in a world unrestricted by the limitations of physics, unforgettable experiences can be enjoyed. Metaverses allow users to play, work, socialize and, thanks to NFTs and blockchain, build virtual businesses to earn passive income.

Planet Sandbox is built on Binance Smart Chain and a beta version of the game is set to launch next month, giving players an opportunity to familiarize themselves with the ecosystem and, if they desire, get to grips with the building toolkit. After the web version is released, mobile and PC versions will follow while the PSB token will be listed on decentralized and centralized exchanges.

Whatever happens to the metaverse, only the most brilliant projects are likely to survive once the cacophonous hype has died down. Is Planet Sandbox one of them? Only time will tell.

 

Image by Arek Socha from Pixabay

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BabyCake – Bringing DeFi to the Masses

BabyCake has a mission. Bring DeFi to the masses.

The rate of crypto adoption in the world is growing, but the percentage of the world’s population who use it is still very small. Decentralized finance, which utilizes technologies to remove intermediaries, middlemen, and banks from financial markets, is a complicated system to enter into.

In a huge step toward fulfilling their mission, BabyCake has developed an App. This app aims to allow anyone with a credit card and a phone to buy cryptocurrency within 3 clicks.  The App is clean, clear and simple to use and will soon be available on both IOS and Android. It will revolutionize the DeFi space and foster the adoption of crypto in a safe, secure, easy and rewarding way.

BabyCake’s primary goal was to make it simple for our mothers to start earning passive income without having to understand this complicated DeFi world, and with this App, they have succeeded.

So who or what is BabyCake? The company was founded by two friends, Monk and Halo. Their passion is helping people take control of their lives and elevate their situations through the use of DeFi to earn passive income. The first step towards achieving that goal was to create the BabyCake token. It is an innovative Reflection Token, one that pays dividends in an already established token instead of its own. Seven percent of the daily volume is paid out to the holders in $Cake, the native token of PancakeSwap, the premier BSC Swap on the market and a company whose tokens are getting more valuable all the time. This means that not only do holders of BabyCake benefit from the increase in the price of the native token, they also receive an appreciating asset, which they can then also Stake on PCS to make even more money!

BabyCake’s early success enabled the creation of the App, their brand new Swap, and the creation of more products, all of which make owning BabyCake a very profitable investment.

Just this week, BabyCake launches its new and improved website. It includes the brand new Swap, an updated Dashboard, Rewards Calculator and information about their upcoming ‘3-click’ App.

The Dashboard includes their very popular Auto-Reinvestment Pool (ARP). Over 14% of all BabyCake tokens have been deposited into the ARP. The Pool accumulates the Cake rewards each holder earns and automatically converts them to BabyCake tokens for a low 3% tax. As the buy tax for BabyCake is 15% to purchase through PancakeSwap, it is a great way for their holders to increase their bags for a significant discount.

BabyCake is currently burning 200 million tokens a day for a 7 day period, reducing supply and increasing the value of already held tokens.

Coming up in the future is the very exciting launch of BabyCake NFT’s. The first NFT to combine Augmented Reality NFT’s with a Rewards System. The NFT’s will initially be available on a BabyCake NFT platform. There will also be a merch store opening in the near future in response to huge demand from the community.

All in all, the future of BabyCake looks bright and with the current price floor being very stable, it is a great time to invest before their many products are launched and their market cap explodes.

 



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