The PlayMining GameFi platform’s DEAPcoin ($DEP) token is performing very bullishly following the announcement of an NFT collaboration with the popular Devilman manga and anime series. At the time of this writing, DEP is currently a top-5 gaming token on Coinmarketcap by 7 day % change, with a 13% seven-day price increase and over 20% growth in market cap.
DEP’s bullish market performance comes at a time when other top-tier gaming tokens are experiencing a bearish slump — Guild of Guardians ($GOG), Oasys ($OAS), Immutable ($IMX) and Axie Infinity ($AXS) are all now dipping on the market charts. Meanwhile, DEP is still going strong, boasting one-month price and market cap increases of 41% and 49%, and respective three-month increases of 120% and 168%.
Major Brand Collab Driving Traction
Devilman is a well-known top-60 manga and anime franchise, having sold over 50 million manga copies since it first launched in 1972. Most serious fans of Japanese manga and anime will be familiar with the title, and PlayMining has a significant user base in Japan — making this new partnership a particularly prominent one in the Japanese GameFi space.
For PlayMining’s collaboration with the Devilman franchise, a new limited edition Devilman NFT collection is being integrated with the popular PlayMining card battle game JobTribes. Collectors can purchase limited quantities of six different Devilman NFT styles on the PlayMining NFT market until Jan. 31, after which the remaining cards will be raffled off over the following two weeks (or until supplies last). ‘Premium Recruitment’ raffle tickets can be purchased from within JobTribes from Jan. 31 until Valentine’s Day.
As a special bonus, whoever draws the very last Devilman NFT during the Premium Recruitment raffle period will receive a special one-of-a-kind Legendary “Rage of Fire Devilman” NFT as a prize.
JobTribes also has a “Devilman’s Invasion!” event prepared, which will run during the Premium Recruitment period. During this event, players will be able to win another kind of Legendary NFT depicting Devilman’s amulet, as well as other useful game items.
High-Profile #GamifyingWork Partnerships Bolstering DEP Token Rally
DEP’s rebound began three months ago, directly following an official PlayMining announcement of multiple high-level partnerships and a new business model that PlayMining calls #GamifyingWork. Under this new initiative, PlayMining is helping real-world companies from any industry outsource various work tasks to gamers, who can perform the tasks remotely as in-game quests and be rewarded with DEP for their ‘work’.
Kozo Yamada, co-CEO of PlayMining owner Digital Entertainment Asset, said that the new Gamifying Work solution is addressing a severe labor shortage crisis that is affecting many industries across the world. In fact, as many as four out of five companies may be affected globally, according to research by ManpowerGroup. But under PlayMining’s new initiative, companies that are not even traditionally part of the digital space, such as heavy industries, can remotely fill this labor demand in innovative ways.
PlayMining has a pilot project launching this spring in collaboration with the world’s fourth-largest electric power company, TEPCO Power Grid. The new PlayMining game will send teams of players out into their communities to photograph aging utility poles, with DEP tokens allocated to the teams that connect the most power lines in their game. As a result, TEPCO, which has been suffering from a lack of power pole inspectors, can now more efficiently maintain their aging power infrastructure.
A similar project is also underway to fill labor demands at waste processing facilities — this time via a highly innovative game in which players can remotely operate real-life waste-sorting robots. Japan’s second-largest telecom operator, KDDI, invested in DEA last summer to promote more such Gamifying Work projects. PlayMining went on to announce a slew of new collaboration partnerships in October, addressing numerous industries and social good goals including CO2 reduction, disaster prevention, animal welfare, local revitalization, inheritance, elderly quality-of-life and employment for people with disabilities.
For more information about PlayMining, visit their official website and follow them on social media.
The limited edition Devilman NFTs can be bought with PlayMining’s DEP token which is leading in the current gamefi rally ahead of Immutable ($IMX), Oasys ($OAS), Guild of Guardians ($GOG) and Axie Infinity ($AXS) in terms of one-month and three-month gains in both token price and market cap.
SINGAPORE, Jan. 24, 2024 — Digital Entertainment Asset Pte. Ltd. (DEA), a Singapore-based global GameFi company and owner of the PlayMining gaming platform, has announced the launch of a limited edition NFT collection for the Job Tribes Play-and-Earn (P&E) card battle game in collaboration with the popular Devilman manga and anime series. The announcement comes at the height of PlayMining’s DEAPcoin ($DEP) rebound, with prices and market cap up 115% and 166% respectively from where they stood when the GameFi market rally began three months ago.
Limited quantities of six different Devilman NFTs will be available for purchase from the PlayMining NFT marketplace from Jan. 24 at 14:00 to Jan. 31 at 10:59 (UTC+8). The limited edition collaboration NFTs will feature artwork of characters from the Devilman series across three Epic and three Legendary cards. After the sale ends, a limited quantity of cards will still be available to win via random draw by spending DEP to purchase “Premium Recruitment” tickets in the Job Tribes game. Premium Recruitment will be available from Jan. 31 at 16:00 until Feb. 14 at 10:59 (UTC+8), or while supplies last. As a special incentive, a one-of-a-kind “Rage of Fire Devilman” Legendary collaboration NFT will be awarded as a bonus prize to the player who draws the very last Premium Recruitment NFT.
To commemorate the Devilman collaboration, JobTribes will feature an in-game event called “Devilman’s Invasion!” from Jan. 31 at 16:00 until Feb. 14 at 10:59 (UTC+8). The tie-in event will see players competing to win Devilman’s amulet in the form of a Legendary collaboration NFT. Other game items will also be available to be won.
Devilman is a well-known manga and anime series that has had numerous iterations since it first launched in 1972. Over 50 million copies of the manga have been sold worldwide, placing it as a top-60 best selling manga series.
Sales Information
Legendary NFTs:
3 types, each limited to 10 pieces (total 30 pieces)
Immediate sale price: 360,000 DEAPcoin
One bonus Legendary NFT exclusively available through “Premium Recruitment”
Epic NFTs:
3 types, each limited to 10 pieces (total 30 pieces)
Immediate sale price: 60,000 DEAPcoin
$DEP: Dominating the GameFi Market Rally for Over Three Months
Late October 2023 saw a massive spike in many GameFi token prices, and the bullish market performance continued in a sustained GameFi rally through the new year. PlayMining’s DEP is one of the strongest performing high-profile GameFi tokens on the market today, surpassing Immutable ($IMX), Oasys ($OAS), Guild of Guardians ($GOG) and Axie Infinity ($AXS) in terms of one-month and three-month gains in both token price and market cap.
DEP is the proprietary token used to purchase NFTs on PlayMining’s marketplaces, and can be earned as a reward for playing PlayMining GameFi games. With DEP’s rising market price, PlayMining NFTs are also increasing in intrinsic value.
DEP listed on Tokenize Xchange recently where it is tradable with USD and SGD, and can also be traded on other popular cryptocurrency exchanges including OKX, Uniswap, Gate.io, Bitrue and Bitmart.
Boasting a Brand New Business Model: #GamifyingWork Across All Industries
DEP’s strong rebound immediately followed an official announcement by PlayMining of multiple high-profile partnerships with whom PlayMining is co-developing a new business model called “Gamifying Work”. The initiative will see new P&E games developed for the PlayMining GameFi platform that gamify work tasks for real-world companies.
“There are serious labor shortages across many industries all around the world these days, but many of these jobs feature work tasks that could be performed remotely. We can help alleviate labor shortages by gamifying some of these work tasks in PlayMining games, where players are incentivized with DEP tokens in exchange for ‘doing the work’ as in-game quests,” said DEA co-founder and co-CEO Kozo Yamada.
PlayMining’s labor shortage solution tackles a severe problem — four out of five companies suffer from a lack of talent worldwide, according to a 2023 ManpowerGroup report. In addition, a significant proportion of businesses suffering from labor shortages are in the heavy industries — a space that PlayMining is specifically addressing with a number of their recent partnerships.
For example, a pilot project is launching in Japan this spring for PlayMining’s partnership with TEPCO Power Grid, the fourth-largest electric power company in the world. TEPCO has had a hard time employing enough power pole inspectors to maintain their aging power infrastructure around Japan. But soon, PlayMining gamers will be able to fill this demand — a new game will send teams of players out into their local communities to photograph power poles, with winning teams earning DEP rewards.
Another ‘gamifying work’ collaboration underway is PlayMining’s novel solution for the waste management industry — a game that will allow players to remotely control actual physical waste-sorting robots at Japanese waste-processing facilities, thus alleviating a labor shortage in that space. Additionally, DEA has secured investment from KDDI, the second-largest telecom operator in Japan, opening the company up to business collaborations through their network. New projects revealed in PlayMining’s October announcement included initiatives across a wide range of industries, ranging from disaster prevention, local revitalization and CO2 reduction to social good projects targeting elderly quality-of-life, animal welfare, employment for people with disabilities and inheritance.
The PlayMining GameFi platform’s catalog of P&E games includes: JobTribes, Menya Dragon Ramen, Cookin’ Burger, Lucky Farmer, Graffiti Racer, SOUL Fusers and Rogue Roll Ruler’s. The platform also has two NFT marketplaces, a manga-integrated metaverse project and a ‘Watch-and-Earn’ streaming video application. And soon, it will feature a growing number of ‘gamifying work’ games!
Businesses and individuals interested in discussing collaboration opportunities with PlayMining can use the following email address to get in touch with the PlayMining business development team: recruit@dea.sg
About Digital Entertainment Asset
Digital Entertainment Asset Pte. Ltd. (DEA) is a Singapore-based global Web3 entertainment company founded in August 2018. DEA is a developer of Play-to-Earn (P2E) games — also referred to as Play-and-Earn (P&E) games. DEA also operates the PlayMining gamefi platform, NFT marketplace and ‘Verse’ metaverse project as well as DEAPcoin ($DEP) — the first P&E token approved by the Financial Service Agency (FSA) of Japan. The team is headed by two co-CEOs — Naohito Yoshida and Kozo Yamada — who together bring decades of experience in founding successful startups (with 3 IPOs), creating hit video games, producing Web TV programs and displaying a deep understanding of NFT gaming.
About PlayMining
PlayMining is a GameFi and metaverse platform that empowers creators who would otherwise benefit very little in the traditional IP creation industry. The PlayMining platform is a new business model for content creation, featuring an NFT Marketplace powered by the PlayMining DEAPcoin ($DEP), paired with an NFT gaming and Metaverse platform. Featuring both in-house games as well as third-party projects with their own native tokens that allow creators to capture much of the value they create, the PlayMining platform has 2.7 million users and a catalog of P&E game titles including Job Tribes, Cookin’ Burger, Menya Dragon Ramen, Graffiti Racer, Lucky Farmer, Rogue Roll Ruler’s and SOUL Fusers, as well as the metaverse project Fujiwara Kamui Verse.
About JobTribes
JobTribes is a card battle game themed around various occupations, featuring characters that personify different jobs. NFTs can be used as powerful battle cards significantly influencing the outcome of battles. The game’s story is handled by Shin Kibayashi, one of the top six creators in Japan selected by Netflix, offering a grand world view.
Devilman is one of the representative works of manga artist Go Nagai. It depicts a fierce battle between a demon army intent on destroying humanity and Devilman, who betrays them to side with the humans. This work, which was simultaneously serialized in manga and broadcast as a TV anime series, was a pioneer of mixed media projects in Japan.
Hong Kong, January 9, 2024 — Web3 games represent a new generation of games built on blockchain technology and decentralized principles. Paving the way for Web3 into mainstream markets, Web3 games attracts not only the native Web3 industry but is also a strategic breakthrough eagerly anticipated by traditional game entrepreneurs.
On January 5, ICC Camp, the accelerator dedicated to the Web3 gaming ecosystem, officially opened up student applications. It is recruiting dozens of outstanding startups globally in the Web3 gaming circuit for an extensive 6-month incubation program. This initiative aims to provide comprehensive support and training for entrepreneurs aspiring to explore the Web3 gaming ecosystem. The program includes a two-month high-quality systematic course with tour opportunities, and a four-month observation and service period. The course arrangement covers various modules in the Web3 gaming circuit, while services include investment matchmaking, project empowerment and value addition, resource and equity negotiations, and student support.
Meanwhile, the inaugural lineup of mentors for ICC Camp S1 has been announced. These mentors hail from prominent institutions and enterprises in the industry. They will collaborate to interpret industry trends, share successful experiences, provide profound insights, and develop new perspectives on the Web3 gaming ecosystem for ICC Camp participants, assisting entrepreneurs in soaring to new heights on their innovative journeys.
The mentor lineup includes:
Kevin Shao, Executive President of ABGA, Partner of Web3Labs, and Founder of Bitrise Capital；
Roland Ong, President of ABGA, and Partner & Director at Liminal Entertainment;
Simon Li, Vice Executive President of ABGA, and Founder of Chain Capital;
Johnny Ng Kit-chong, Member of the National Committee of the Chinese People’s Political Consultative Conference, Member of the Legislative Council of Hong Kong, and Founder of G-Rocket;
Jack Kong, Founder of Nano Labs, and Director of Hong Kong Cyberport;
Feng Xiao, Chairman and CEO of HashKey Group;
Sebastien, Co-founder of The Sandbox;
Yawn, Co-Founder of StepN and Co-Founder of Find Satoshi Lab;
Feng Wang, Co-Founder & CEO of Linekong Entertainment Technology;
Lester Li, Founder & CEO of DeGame;
Jun Du, Co-Founder of ABCDE Capital, and Executive Director & CEO of Xinhuo Technology;
Hongfei Da, Founder of Neo;
Patrick Dai, Co-Founder of Qtum;
Uno Lee, VP of Business & Governance at Klaytn;
DiscusFish, CEO & Co-Founder of Cobo;
Caspar Wong, CEO of Web3Labs;
Forest Bai, Co-Founder of Foresight Ventures;
Sheldon Xia, Founder & CEO of GBM;
Kevin Ren, Partner of CGV;
Yushan Zheng, Co-Founder of Waterdrip Capital;
Blue Yang, Partner and CTO of SlowMist, and Director of G3 Lab;
Xin Song, COO of GSR;
Yuetian Chen, Founding Partner of Initiate Capital;
Nicole Zhang, Partner of Lingfeng Innovation Fund;
Shawn Shi, Managing Partner of Oak Grove Ventures;
May Liu, Partner of Spark Digital Capital;
Kevin, Partner of BTOK;
These industry elites will serve as mentors, providing students with rich online and offline courses, as well as entrepreneurial guidance.
Startup projects can now participate by scanning the QR code on the poster or clicking the application link below to embark on this journey of Web3 gaming innovation.
ICC Camp is committed to exploring and promoting the development of the Web3 gaming industry and has received strategic support from ABGA (Asia Blockchain Gaming Alliance) and Web3Labs. The mission of ICC Camp is to nurture and support outstanding entrepreneurs in the future Web3 gaming industry, empowering more high-quality Web3 gaming projects and building a strong global Web3 gaming ecosystem.
Mark Karpelès, the former CEO of the collapsed exchange Mt. Gox seems to have little in the way of sympathy for former FTX CEO Sam Bankman-Fried, who’s been trying to get released from prison to prepare for his upcoming trial, citing poor internet.
“When I was arrested back in 2015, the most computing power I got was a simple calculator (+-*/√),” Karpelès wrote in a Sept. 13 post on X (formerly known as Twitter).
Karpeles was arrested on two separate occasions in 2015 for the alleged misappropriation of nearly $3 million of Mt. Gox customer funds.
When I was arrested back in 2015, the most computing power I got was a simple calculator (+-*/√). Had 20000 pages of evidence including over 5000 pages of accounting. Calculation I did at the time helped me to earn release under bail and eventually be cleared of all embezzlement…
Karpelès eventually earned release under bail using a trusty “little calculator” he bought from the prison commissary and was eventually cleared of all embezzlement and breach of trust charges.
“I spent a total of 11 months and 15 days in pre-trial detention, and didn’t have access to any of the evidence until about 7 to 8 months in,” he said.
By using supplies he’d gotten from the jail’s store, Karpelès used folders and stickers to create an index of all the evidence he’d been sent by his legal counsel, which was all squeezed into a very complex eight page file, he said.
Karpelès said he was even initially going to brave it with an abacus — an ancient counting tool that uses sliding beads to add and subtract — which was the only item listed that could assist with calculations. Luckily, a prison guard told him that he could use a calculator for accounting cases and was thus spared the headache.
“I spent around $120 to buy the best calculator they had, which could do additions, subtractions, multiplications and divisions, square roots for some reason, and had buttons to add/remove consumption tax,” he explained.
Related: The Mess That Was Mt. Gox: Four Years On
Finally, four years after his initial arrest in Aug. 2015, Karpelès was said he was cleared of all embezzlement and breach of trust charges, “all thanks to that little calculator,” and “of course the tremendous work” done by his lawyers.
Karpeles comments come days after lawyers for Sam Bankman-Fried filed a request to have him released from prison, claiming that Bankman-Fried’s poor internet access was a significant impediment to the preparation for the upcoming trial.
Bankman-Fried currently faces 12 criminal charges, which will be spread across two trials scheduled to begin on Oct. 2, 2023, and March 11, 2024. He has pleaded not guilty to all counts.
The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv.
FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal.
Who is this product for?
The FUD Vault is designed for individuals who have uncertainties about the future performance of ETH and want to find a way to potentially profit even when the market is experiencing a downward trend.
By depositing funds into the FUD Vault, users can take advantage of a specific strategy that aims to mitigate the risks associated with a falling market.
Therefore, if you feel uncertain or skeptical about the future performance of ETH and desire a strategy that allows for potential profit-making during market declines, the FUD Vault could be a suitable option.
Product Values
The FUD Vault offers several key values to its users:
Simplified Strategy: By consolidating a single strategy into one token, the FUD Vault enhances both DeFi composability and user convenience. Users can easily manage their deposits by transferring them between addresses, utilizing them as collateral on other protocols, and effortlessly verifying their holdings within a specific strategy. The aim is to streamline the user experience and provide a seamless interface for interacting with the vault.
Access to Intricate Strategies: With just a single click, users gain access to intricate strategies within the FUD Vault. These strategies are designed to optimize returns and navigate the complexities of the market. By offering these strategies in a user-friendly manner, the vault allows users to benefit from sophisticated investment approaches without needing in-depth knowledge or expertise.
Flexible Withdrawal: Users can withdraw their funds from the FUD Vault at any point after the deposit has been processed. This feature ensures that users maintain control over their assets and can access their funds whenever they need them.
Transparent Historical Returns: The FUD Vault provides users with a clear display of actual historical returns. This transparency allows users to assess the performance of the vault and make informed decisions about their investments. By presenting accurate and up-to-date information, the vault aims to build trust and confidence among its users.
How FUD Vault Operates
When you deposit USDC the vault immediately invests in Aave. Then, it utilizes the entire lending yield generated by Aave for purchasing ETH put options. These put options have a delta ranging from 0,03-0,12 and a maturity period of one week.
In simple terms, the put options act as a form of insurance against a significant drop in the price of ETH. If the price of ETH decreases by more than 10% within the one-week timeframe, the put options are exercised and the resulting profits are distributed to the depositors of the FUD Vault.
Summary
The FUD Vault offers a user-friendly experience, providing convenient deposit management, access to intricate strategies, flexible withdrawal options, and transparent historical return information.
These values ensure that users can easily navigate the vault, make informed decisions, and enjoy the benefits of the platform’s offerings.
About Pods:
Pods make structured products for crypto assets that are easy to use and seamless.Co-founded by Rafaella Baraldo, Robson Silva, and Guilherme Guimarães, the team has developed some of the most innovative and secure tools in DeFi. The success of the products, security audits, and brand efforts, have set a new standard for building DeFi methods in this rapidly expanding sector. Security audits conducted by OpenZeppelin further demonstrate the commitment to safety and reliability. Pods continue to focus on infrastructure and serving professional clients and investors looking to diversify their portfolios.
Contracts
The vault has undergone four audits by leading audit firms, including OpenZeppelin and ABDK. Audit reports are available athttps://github.com/pods-finance/yield-contracts/tree/main/audits
The open-source contracts can be reviewed athttps://github.com/pods-finance/yield-contracts
Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives.
Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution for exchanging collateral and eliminating the need for external asset conversion. Clients will enjoy a zero-fee structure for trading these pairs.
Aiming to foster liquid markets, Deribit will offer 0% fees for makers and takers on spot. Note, due to this structure, there will not be any volume discounts, or affiliate/partner sharing offered on this model.
“Our goal has always been to provide our users with a complete exchange platform that meets all their trading needs. After years of being the leading crypto derivatives trading platform and ensuring that our exchange has the highest level of security and transparency, we have decided to apply our expertise to spot trading. By adding spot trading to our existing futures and options products, we are now able to provide a fulsome exchange offering that caters to all types of traders.” – Luuk Strijers, COO at Deribit
Currently, Deribit offers options, inverse & linear perpetuals, and futures (incl volatility futures) for three bases currencies (Bitcoin and Ethereum, and USDC), which allows investors to efficiently manage risk and hedge their investments. With the addition of spot trading, Deribit now serves a wider range of traders who seek to swap directly between assets with immediate delivery and ownership.
The introduction of free spot trading capabilities comes shortly after Deribit’s launch of BTC DVOL futures, a contract built on DVOL (the Deribit Bitcoin Volatility Index) that facilitates bitcoin volatility trading. Deribit has also experienced a continued increase in investor activity, seeing open interest on the platform hit an all-time high of over $20 billion on March 30th, 2023.
Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum.
Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures that deliver transaction efficiency, security, and scalability.
Infinity is a pioneering interest rate protocol that forms the basis for benchmark rates, institutional-grade lending, borrowing, and risk management in DeFi. The money market exchange protocol was founded by ex-Morgan Stanley Head of Structuring, Kevin Lepsoe.
“Infinity is building critical infrastructure for DeFi, and its protocol enabling price discovery and management of risk within DeFi is transformative for institutions, Infinity’s groundwork paves the way for institutional flows on-chain, new levels of rates, and risk innovation, and we are keen to support their advances in the hybrid finance space.” – Olivier Dang, Head of Ventures at Laser Digital
Laser Digital was recently unveiled by Nomura to spearhead its digital asset ambitions and is chaired by Steve Ashley, who previously led Nomura’s wholesale division, with Dr. Jez Mohideen as its CEO. Headquartered in Switzerland, Laser Digital’s investments are focused on DeFi, centralized finance (CeFi), web3, and blockchain infrastructure.
The investment comes as the Bank of International Settlements (BIS) published guidelines for crypto exposures in December 2022, with bank-prescribed risk weightings for tokenized assets to be treated on par 1:1 with their analog counterparts. The guidelines for banks come into effect on 1 January 2025.
With USD $300 trillion of credit securities outstanding and multiples of that in the loan, derivative, and equity markets, the new guidelines portend a major wave of tokenization across financial and real assets.
Presently in Beta, the Inifinity mainnet is scheduled to launch by the end of Q2 2023.
Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder.
Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain.
This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem.
“MEV bundle control is an important element of our block-building capabilities. As Ethereum evolves, we remain committed to providing real-time infrastructure that supports transparency, accessibility, and decentralization block by block. To reduce friction and facilitate adoption, we have prioritized ease of use by ensuring that our API-level implementation is cross-compatible with the broader builder ecosystem.” – Matt Cutler, CEO & Co-Founder of Blocknative
Searchers can quickly add the Blocknative Builder to their bundle workflow. The bundle RPC endpoint uses direct payments instead of gas prices to make payments conditional on their transaction succeeding, thus avoiding having to pay for failed bids.
With over 269,000 validators connected to the Blocknative Relay via MEV-Boost, searchers can use the Blocknative bundle RPC endpoint to increase their Builder reach and increase the likelihood that their bundles successfully get on-chain.
Searchers can learn more here or interact with the RPC endpoint here.
Yesterday, Twitter confirmed its acquisition by Elon Musk in a deal worth nearly $44 billion. The announcement had a positive impact on the crypto market and specifically on Dogecoin (DOGE). The world’s largest meme coin jumped by approximately 25% within 24 hours.
Today, Dogecoin reached a high of almost $0.167, according to the data published by Coinmarketcap. With that, DOGE crossed the market cap of $20 billion for the first time in almost three weeks. The meme coin is now the 10th most valuable cryptocurrency in the world, just behind Cardano (ADA) and Terra (LUNA).
“Potentially related to the news of ElonMusk’s nearly formalized purchase of Twitter today, Dogecoin has pumped +19% over the past six hours. We have historically seen that meme coins benefit from Musk developments, & we’ll monitor this situation,” crypto analysis platform Santiment recently highlighted in a Twitter post.
Elon Musk has been one of the biggest supporters of Dogecoin. In March 2022, the CEO of Tesla confirmed that he is holding different crypto assets including Bitcoin, Ethereum and DOGE. In a Tweet last year, Elon Musk called Dogecoin “the people’s crypto.”
Meme Coins
Amid the retail frenzy in digital assets during 2021, meme coins gained significant popularity among users. DOGE and Shiba Inu witnessed monumental gains throughout last year. However, DOGE and SHIB saw consistent dips in the past 5 months. Despite the latest jump of approximately 25%, Dogecoin is still down by almost 50% compared to October 2021. A similar trend was witnessed across the Shiba Inu network. SHIB is now down by more than 60% from its all-time high in November 2021.
Despite price volatility, the adoption of DOGE and SHIB has increased in the past 12 months. Earlier this month, AMC mobile app started accepting Shiba Inu and Dogecoin for online payments.
Yesterday, Twitter confirmed its acquisition by Elon Musk in a deal worth nearly $44 billion. The announcement had a positive impact on the crypto market and specifically on Dogecoin (DOGE). The world’s largest meme coin jumped by approximately 25% within 24 hours.
Today, Dogecoin reached a high of almost $0.167, according to the data published by Coinmarketcap. With that, DOGE crossed the market cap of $20 billion for the first time in almost three weeks. The meme coin is now the 10th most valuable cryptocurrency in the world, just behind Cardano (ADA) and Terra (LUNA).
“Potentially related to the news of ElonMusk’s nearly formalized purchase of Twitter today, Dogecoin has pumped +19% over the past six hours. We have historically seen that meme coins benefit from Musk developments, & we’ll monitor this situation,” crypto analysis platform Santiment recently highlighted in a Twitter post.
Elon Musk has been one of the biggest supporters of Dogecoin. In March 2022, the CEO of Tesla confirmed that he is holding different crypto assets including Bitcoin, Ethereum and DOGE. In a Tweet last year, Elon Musk called Dogecoin “the people’s crypto.”
Meme Coins
Amid the retail frenzy in digital assets during 2021, meme coins gained significant popularity among users. DOGE and Shiba Inu witnessed monumental gains throughout last year. However, DOGE and SHIB saw consistent dips in the past 5 months. Despite the latest jump of approximately 25%, Dogecoin is still down by almost 50% compared to October 2021. A similar trend was witnessed across the Shiba Inu network. SHIB is now down by more than 60% from its all-time high in November 2021.
Despite price volatility, the adoption of DOGE and SHIB has increased in the past 12 months. Earlier this month, AMC mobile app started accepting Shiba Inu and Dogecoin for online payments.
Charts show the Bitcoin price seems to be falling below the 600-day moving average, a sign that could be bearish for the crypto.
Bitcoin Begins To Lose 600-Day MA Support Line As Price Crashes Below $39k Again
As pointed out by an analyst in a CryptoQuant post, the price of the crypto is crossing below the 600-day MA curve now, a line that has served as support for BTC in the past.
A “moving average” (or MA in short) is an analytical tool that takes the average of any quantity over a particular time period. As the name already suggests, this average constantly updates itself as time passes and new values arrive.
What this tool does is that it removes any short-term fluctuations from the chart being studied (which is the Bitcoin price in this context), and smooths out the curve.
This makes moving averages quite useful for studying long-term trends, where local variations aren’t that important.
Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes
MAs can be taken over any possible range, whether that be two days, two hundred days, or even only two minutes.
Now, here is a chart that shows the trend in the 600-day MA version of the Bitcoin price:
Looks like the price curve is dipping below the 600-day MA line now | Source: CryptoQuant
As you can see in the above graph, the Bitcoin 600-day MA curve has acted as support for the coin’s price many times in the year so far already.
However, the latest trend seems to suggest that this support line is now breaking down as the price line is crossing below the MA on the daily timeframe.
Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet
Though, the breakdown may not be yet fully confirmed. The quant in the post believes that if the breakdown fails here, Bitcoin may then use the level as a springboard to push higher.
In the case that the breakdown does stand, then a bearish outcome may perhaps be in store for the cryptocurrency.
BTC Price
At the time of writing, Bitcoin’s price floats around $38.8k, down 1% in the last seven days. Over the past month, the crypto has lost 12% in value.
The below chart shows the trend in the price of the coin over the last five days.
Looks like the price of the coin has plunged down over the last few days | Source: BTCUSD on TradingView
Bitcoin briefly seemed to have been on the path of recovery just a few days back as the coin broke above the $42k mark.
However, the cryptocurrency now seems to have plummeted down again as it once more revisits the sub-39k levels.
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
