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Crypto Shuttle News

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  • Monaco Planet: Sailing the sea of SocialFi opportunity with MONA | by Bit Media Buzz | Nov, 2021

    Monaco Planet: Sailing the sea of SocialFi opportunity with MONA | by Bit Media Buzz | Nov, 2021

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    Bit Media Buzz

    While today’s social media giants monopolize the space, squeezing users rather than rewarding them, the advent of cryptocurrency, blockchain and the rising SocialFi movement now threatens to upend that. Monaco Planet, backed by IMO Ventures and Three Arrows Capital, is leading the charge by returning platform ownership and governance to users.

    When Monaco Planet launches their Rare Yacht nonfungible tokens (NFTs) on Nov. 11 and goes live with their native token MONA on Nov. 28, holders begin enjoying the benefits of ownership and governance rights. By engaging in “content mining,” a sustainable, creative and inclusive form of mining whereby those who create content and engage in forum discussions gain rewards, users further grow their stake.

    “While we like to say that we return platform ownership to users,” says Monaco Planet outreach director Brandon Zatt, “if you really look at the history of social media, you’ll see that this is actually the first time ever that users both own the platform and determine its destiny.”

    This revolutionary new approach is turning heads as Monaco gains nearly 10,000 new followers per day and their Discord account rapidly approaches 100,000 users. And as they prepare for launch, founding KOLs like Three Arrows, Tom Dwan and Loomdart are filling up Monaco’s Wall of Fame. From heads of crypto funds to celebrities to NFT influencers, Monaco Planet may be the hottest party in Q4 2021/Q1 2022.

    Both MONA tokens and Rare Yacht NFTs unlock platform utility, helping users to promote their projects and accounts and eventually run their own promotional and advertising campaigns.

    As a gateway to the metaverse, Monaco Planet is building a robust dynamic eco-system and MONA holders have preferred access, including investment quotas for high-quality projects. Users themselves decide whether to participate in the investment, but the quota is guaranteed. MONA can also be utilized for tipping or gifting.

    And as the ecosystem grows and Monaco introduces more high-quality Defi and Gamefi projects, MONA holders can seamlessly connect social, finance and gaming into one cohesive Metaverse.

    “Monaco Planet represents a true departure from traditional social media and a concerted effort to bring the benefits of blockchain and crypto to our virtual and actual social lives,” says Brandon Zatt.

    Though there are over 100 million wallet addresses currently in use, a truly native crypto and NFT-dedicated social media platform with a high density of fans has not yet been born — until now. Monaco Planet users log in with wallets such as MetaMask to enable them to showcase their crypto and NFT holdings through their profile, making it harder for scammers to misrepresent themselves.

    As true influencers can be identified by their level of engagement and dedication, Monaco Planet aims to bring a deeper level of trust and awareness to social platforms. Based on common interests and a belief in digital assets, organic connections are naturally fostered amongst users.

    While some criticize proof-of-work (PoW) mining for being environmentally unfriendly, content mining or create-to-earn or write-to-earn, allows users to earn rewards by contributing content. It is truly democratic, inclusive and sustainable.

    With 55% of MONA platform tokens distributed to users through content mining, holding MONA gives users platform ownership and a genuine stake. This is the exact opposite of how centralized social media platforms currently work.

    The first month after Planet Monaco goes live is by invite only. Users holding Yacht NFTs will be eligible to start content mining. They enjoy higher weighting on the platform and can generate the greatest rewards during the first month. They can also invite up to five other users. On December 31, 2021, first-time platform users can withdraw MONA to their wallets and trade them on the open market.

    The formula for the scoring of each user factors in elements like the number of fans per user, their total number of likes, net NFT value in the wallet and number of comments they’ve generated.

    On January 1, 2022, the public platform opens to all users. Users who stake MONA for at least one month achieve a MONA staking weight, which is necessary for participating in content mining. Weights vary according to the length of time MONA is staked for.

    Thus, the launch of the Yacht NFTs and MONA tokens represent a unique opportunity for users to take back control of their social media, earn rewards through their own creativity and effort and enter the Metaverse with autonomy and advocacy. Come set sail on the sea of SocialFi opportunity — destination Monaco Planet.

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  • Bitcoin Dips From Highs, What Could Trigger Fresh Increase

    Bitcoin Dips From Highs, What Could Trigger Fresh Increase

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    Bitcoin price started a downside correction from the $68,500 zone against the US Dollar. BTC might start a fresh increase unless there is a break below $64,000.

    • Bitcoin started a downside correction below the $68,000 and $67,000 levels.
    • The price is still trading above $65,000 and the 100 hourly simple moving average.
    • There is a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a fresh increase if the $64,000 support remains intact.

    Bitcoin Price Corrects Lower

    Bitcoin price gained pace above the $65,000 support zone. BTC extended its rally above the $66,500 and $67,000 resistance levels. The price even surged above the $68,000 level.

    It traded to a new all-time high near $68,495 before there was a downside correction. The price declined below the $68,000 and $67,800 support levels. There was a break below the 50% Fib retracement level of the upward move from the $65,200 swing low to $68,495 high.

    However, bitcoin still trading above $65,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair.

    Bitcoin Price

    On the upside, an immediate resistance is near the $67,500 level. The first major resistance is near the $68,000 level. A clear break above $68,000 resistance may possibly call open the doors for a fresh increase. The next major resistance sits near the $68,500 level. Any more gains might lead the price towards the $70,000 level.

    Dips Supported in BTC?

    If bitcoin fails to clear the $68,000 resistance zone, it could extend its downside correction. An immediate support on the downside is near the $66,500 level. The first major support is now forming near the $66,400 level.

    It is close to the 61.8% Fib retracement level of the upward move from the $65,200 swing low to $68,495 high. The next major support is near the $65,000 level, below which the price could dive towards the key breakdown support at USD 64,000 in the near term.

    Technical indicators:

    Hourly MACD – The MACD is now losing pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just below the 50 level.

    Major Support Levels – $66,400, followed by $66,000.

    Major Resistance Levels – $67,500, $68,000 and $68,500.

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  • GYEN (GYEN) is launching on Coinbase Pro

    GYEN (GYEN) is launching on Coinbase Pro

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    Starting Today, Tuesday November 9, transfer GYEN into your Coinbase Pro account ahead of trading. Support for GYEN will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin on or after 9AM Pacific Time (PT) Wednesday November 10, if liquidity conditions are met.

    One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Crypto.com Protocol (CRO), Kryll (KRL), LCX (LCX) SUKU (SUKU), OriginTrail (TRAC), Assemble Protocol (ASM), ARPA Chain (ARPA), Bounce (AUCTION), Perpetual Protocol (PERP), BadgerDAO (BADGER), Rarible (RARI), Function X (FX), Jasmy (JASMY), Wrapped Centrifuge (WCFG) and Avalanche (AVAX).

    Starting Today, Tuesday November 9 we will begin accepting inbound transfers of GYEN to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT) Wednesday November 10, if liquidity conditions are met.

    Once sufficient supply of GYEN is established on the platform, trading on our GYEN-USD, GYEN-USDT and GYEN-EUR order books will launch in phases, post-only or auction mode then limit-only and full trading mode. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.

    We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.

    GYEN (GYEN) is a stablecoin running on Ethereum that’s intended to maintain a value of one Japanese Yen. The company behind GYEN, GMO-Z.com Trust Company, claims to hold reserves that fully back each GYEN.

    GYEN is not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.

    You can sign up for a Coinbase Pro account here to start trading. For more information on trading GYEN on Coinbase Pro, visit our support page.

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    Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.
    This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

    Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

    All images provided herein are by Coinbase.

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    GYEN (GYEN) is launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.



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  • Alexis Ohanian, Solana Ventures launch $100M Web3 growth fund

    Alexis Ohanian, Solana Ventures launch $100M Web3 growth fund

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    Reddit co-founder Alexis Ohanian has teamed up with Solana Ventures to launch a new investment fund dedicated to Web3 and social projects, potentially setting the stage for the next wave of budding crypto startups. 

    Ohanian announced Tuesday at the Breakpoint conference in Lisbon, Portugal that his Seven Seven Six venture firm and Solana Ventures have allocated $100 million to Web3 and “decentralized social projects.” In an accompanying news release, the internet entrepreneur touted his venture firm’s expertise in “identifying and investing in early social and crypto trends,” which include Reddit, Patreon and Coinbase, among others.

    Raj Gokal, the COO of Solana Labs, said “Web3 turns users and creators into owners and stakeholders, a change that can’t come soon enough to social media.”

    Centralized social media platforms such as Facebook are said to generate hundreds of billions of dollars in annual revenue, mostly through advertising and without rewarding content creators for their contributions. While efforts to “decentralize” social media have been underway since at least 2017, no blockchain-based social project has reached mainstream adoption. Seven Seven Six and Solana Ventures said they will prioritize technologies and applications that [eliminate] value extraction from centralized intermediaries.”

    Related: BREAKING: Facebook rebrands to Meta as focus expands beyond social media

    Solana Ventures has been highly active on the investment front, having only recently spearheaded a $100 million fund dedicated to Web3 gaming, also known as GameFi. Similar funds were also launched by Sanctor Capital and Huobi Group. Over $17 billion in venture capital has flowed to crypto- and blockchain-focused startups so far in 2021.