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Emergents TCG Public Beta Version Introduced by InterPop, Followed by Exclusive ‘Super Boosters’ Packs

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Emergent’s Beta Version Trading Card Game Introduced By Interpop
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  • Players have a chance to win Scott Kolin’s comic books.
  • Kolin’s comic book can be exchanged for physical art. 
  • Few of the characteristics included in the super booster drop are exclusive.

One of InterPop’s signature products, the Emergents Trading Card Game (TCG), has finally launched the public beta version. TGS trading card game is similar to Pokemon and Magic, and it uses the strength of blockchain technology and deck building to improve the TCG play experience. 

InterPop is creating the future of digital fandom through the consequent increase of comic, game, and collectible NFTs on the Tezos blockchain. InterPop’s new TCG gameplay of Emergents is less difficult than the current blockchain card games, which frequently rely on complicated tokenomics.

InterPop’s CEO Brian David Marshall said;

Our goal has never been to build the best blockchain game, it has always been to build a better game than what was out there – be it so-called free-to-play or the complicated DeFi mechanics of blockchain games – that could go toe-to-toe with best in class trading card games and recapture some of the excitement that came from buying, selling, and trading Magic or Pokemon cards in the real world.

Traits on The Beta Version TCG

With the release of the public beta version, interested users can have the chance to create a digital collection of one-of-a-kind cards based on InterPop’s first five comic book series. Additionally, the cards can be exchanged on the Tezos blockchain NFT exchanges Rarible.com and Objkt.com. Players can experience full ownership due to Emergent’s TCG tokenization concept and the ability to purchase or sell cards to customize their decks.

To highlight the release of the public beta, Emergents TCG will also offer unique promo-card packs nicknamed, the “Super Booster Drop.” Whitelisted participants can purchase these cards starting on August 18.

This special pack has a few benefits including, super booster unique NFT cards, player avatars, and NFT comic books. Each of them has a chance of being upgraded to an NFT with a higher rarity. The Emergents’ Universe comic cover art, by renowned artists including Colleen Doran, Amanda Conner, Steve Ellis, and Juan Doe, also will be included on the NFT cards.

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Staked ETH Nears 14 Million As Ethereum Readies For Breakout

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Since the completion of the Ethereum Merge, sentiment among the community has remained positive. There had been no withdrawal mechanisms coded into the hard fork, which meant that the feared dump of millions of ETH into the market did not happen. What had happened is that the amount of ETH that was being staked on the network had continued to grow, now getting close to another important milestone for the network.

Staked ETH Almost At 14 Million

By the time the Merge was to be implemented, there had been more than 13 million ETH already staked on the network. This represented more than 11% of the total circulating ETH supply being taken out of circulation temporarily. 

Now, less than two weeks after the Merge was completed, the staked volume on the network is already ramping up. Since September 15th, there have been more than 200,000 ETH staked on the network. This has brought the total staked ETH to 13.979 million, leaving less than 27 ETH left for the network to reach the 14 million mark. This means that the addition of one more validator will push the staked amount above 14 million, meaning more than 11.5% of the total supply of ETH is now staked.

The accelerated rate of staking speaks volumes about the support that Ethereum is getting. Even though there are those who have lamented the network’s move to proof of stake, the improved capabilities of the network point to this being the right direction for it.

Ethereum Wants Another Breakout

The crypto market has been reeling from the crash, but it has seen some meaningful recovery in this time. One of the cryptocurrencies that continues to show great promise even through this bear run has been Ethereum, and this has everything to do with ETH staking.

Since more ETH is being staked on the network and there is no withdrawal mechanism in place, these ETH are being taken out of circulation and essentially reducing the supply. The ETH issuance since the Merge is also down 98%, meaning that the supply of ETH is declining by the day.

All of these point towards an incoming supply squeeze. When taking into account the fact that ETH continues to show accumulation trends and the support forming at $1,300, a breakout towards $1,500 is more likely at this point, as more investors move their coins out of centralized exchanges, as was seen in the last 7 days, the supply will get tighter, causing the value of the cryptocurrency to balloon. 

Featured image from Business 2 Community, charts from TradingView.com

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Famed Investor Michael Burry Warns of Upcoming Recession

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Bitcoin’s Market Dominance Decreases, Sign Of Incoming Dips?
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  • Burry highlights the deteriorating situation in the white-collar workforce.
  • The Fed has used the robustness of the job market to allay recession concerns.

Inflation has devastated economies throughout the world. The macroeconomic situation will deteriorate as predicted by Michael Burry, an experienced investor and the founder of Scion Capital. Burry sprang to fame when he correctly anticipated and profited from the collapse of the subprime mortgage market. Burry highlights the deteriorating situation in the white-collar workforce.

It is his opinion that the white-collar job market is experiencing a bubble bust, which might lead to a long-term fall in employment. In addition, according to Burry, remote work will be blamed for the decline in job prospects in the future. On Thursday, the US Department of Labor will disclose the US initial unemployment claims.

Rising Interest Rates

Inflation in the United States is nearing crisis levels. To combat rising prices, the Federal Reserve is adopting a hard line. To maintain price stability, the Fed has raised interest rates. Quantitative tightening is also being implemented, with the company selling off assets from a financial sheet that grew rapidly during the outbreak. The Fed raised interest rates by another 75 basis points after the August CPI report indicated higher inflation.

A major increase of 100 basis points is also expected by experts by the end of 2022. The Federal Reserve may be more hawkish if the job situation continues to improve. In the present economic climate, jobless claims are also significant because of another factor. 

The Fed has used the robustness of the job market to allay recession concerns. However, a drop in the number of white-collar jobs available is often a precursor to a recession. 

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Former Ripple Executive to Head Australian CBDC Trial

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Former Ripple Executive To Head Australian Cbdc Trial
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  • A white paper titled “Australian CBDC Pilot for Digital Finance Innovation” was published.
  • On December 31st, at least 12 use cases will be chosen for further investigation.

On Monday, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) unveiled the pilot project’s (eAUD) white paper for the central bank digital currency. Coincidentally, Dilip Rao, a former executive of Ripple, is now in charge of the CBDC trial.

Just as the summary judgement in SEC v. Ripple draws closer, the XRP price saw a tremendous spike. Within a week, the price surged by more than 40 percent, fueled by a daily trading volume increase of more than $6 billion.

A white paper titled “Australian CBDC Pilot for Digital Finance Innovation” was published on September 26 by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC).

XRPL Use Cases Likely

The RBA and DFCRC will test the eAUD CBDC in order to learn more about its potential uses and the technical, legal, and regulatory framework that surrounds it. Participants may also ask to put their use case to the test in the pilot project and show its usefulness.

On December 31st, at least 12 use cases will be chosen for further investigation as per the DFCRC. It is expected that all participants in the use cases would be properly licensed and registered. In addition, use case pilots will start on January 1 with a final report due on June 30 of next year. It’s important to note that participants are responsible for paying their own way during the pilot.

Interestingly, Dilip Rao, a former executive of Ripple, is now the programme director of the CBDC initiative and is overseeing the pilot research. From 2014 to 2019, Rao helped pave the way for the financial sector to embrace Ripple’s XRPL. The eAUD will be built on a permissioned, private Ethereum network, although XRPL use cases are more likely.

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TRON Showing Hints Of A Major Rebound After A Week Of Rout

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Tron (TRX) holders have been on rough terrain since August with the bears dominating the market. The tables might be turning though in favor of the bulls as shown on the charts. 

  • TRX bulls hint at a comeback after a long period of takeover by the bears
  • TRX price down by 0.87%
  • RSI divergence hints at increased investor optimism

According to CoinMarketCap, TRX’s price has plunged by 0.87% or trading at $0.0596 as of this writing. Apparently, Tron is trying to bounce back from its weekly low that registered at $0.056.

It seems that the token is still traversing in the same range which validates a strong rebound from that level. 

TRON Market Demand Waning?

Hence, there is evidently poor demand for TRX in the market which is normal whenever crypto tries to switch lanes from bearish to bullish. 

Whale activity looks to be insufficient at this point and not gaining enough traction. Regardless, the supply of TRX has increased for the whales.

There is hope as investor optimism ought to be amplified with the recent developments happening for Tron. 

Tron’s weighted sentiment index has shown no significant changes in the market. TRX is still stuck in its lower monthly range which explains the failed uptrend happening over the weekend.

On the other hand, there are a couple of signals that promise the possibility of the bulls pivoting in the coming days. 

TRX Bulls Waiting For The Next Big Wave

TRX price might prevail and rebound from the support zone as further validated by its RSI. The RSI divergence shows increased optimism that the price may escalate in terms of buying pressure.

On-chain metrics for Tron also feature the increase in demand over the derivatives markets as seen in the past couple of days. 

 Chart: TradingView.com

Observation of the funding rates provides critical data because it validates the change in the derivatives market. These observations are usually tied up to the spot market. 

While there are signals that hint at a bullish uptrend, the market sentiments reveal that the TRX bulls are on the sidelines and just waiting for the right timing to jump in when the crypto market improves. 

On TRX price predictions, although the stablecoin is making progress, it still continues to drop which could go on for the next couple of trading sessions. 

Tron’s price may hover below the $0.054 level before September ends. More so, there is also a possibility that TRX’s price could slide below the $0.045 range.

With the crypto market currently struggling, TRX prices could also move in the same direction. The bearish thesis will only be proven wrong if and when the price shoot above the $0.066 mark. 

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TRX total market cap at $5.5 billion on the daily chart | Source: TradingView.com

Featured image from CCN.com, Chart: TradingView.com

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Grayscale Bitcoin Trust (GBTC) Hits New All-Time Low

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Bitcoin’s Price Again Drops Below, Will Btc Survive?
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  • Grayscale’s website states that GBTC has $11.9 billion in assets under management.
  • GBTC has always traded at a significant premium over spot Bitcoin pricing.

Shares of the Grayscale Bitcoin Trust (GBTC), the biggest Bitcoin fund in the market, reached a record discount of 35.18% last Friday and showed little sign of recovering.

By purchasing GBTC shares, investors may get exposure to the fluctuating value of Bitcoin by trading in shares of trusts that hold pools of Bitcoin. The goal is to reduce the risk for institutional investors by providing exposure to the main cryptocurrency without requiring them to purchase and hold any coin.

GBTC has been around since September of 2013 and has always traded at a significant premium over spot Bitcoin pricing. Despite the high 2% annual management charge, this was a popular choice among investors for a long time.

GBTC Cannot Be Redeemed 

After the introduction of multiple Bitcoin ETFs in Canada at the end of February last year, the trust became negative and started trading at a discount to spot Bitcoin values. The ability to purchase Bitcoin “shares” at a discount to the NAV may seem like a steal to investors. But there’s a catch: GBTC can’t be exchanged for anything at the moment.

This effectively puts an end to the arbitrage transaction in which cheap shares are purchased, redeemed for the actual asset, and then sold for a profit.

Grayscale’s website states that GBTC has $11.9 billion in assets under management at the present time. Grayscale has long argued that the ideal solution is to transform its GBTC product into a Bitcoin ETF—an exchange-traded fund backed by actual Bitcoin.

However, the business is hampered by the fact that the U.S. Securities and Exchange Commission (SEC) has not yet authorized a spot Bitcoin ETF for American investors while having approved a number of Bitcoin futures ETFs.

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Bitcoin Price Relief Rally In This Making? BTC Could Target $26k

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Bitcoin Price Btc Btcusdt
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The Bitcoin price continues to trade in a tight range between the mid area around $18,000 and $19,500. The cryptocurrency has been moving sideways after a rejection from the $20,000 level which has led to a spike in fear and uncertainty across the nascent sector.

At the time of writing, the Bitcoin price trades at $19,100 with a 2% profit in the last 24 hours and a 1% loss over the last week. The bearish sentiment and fear in the crypto market hint at a potential relief rally which might coincide with the macro forces influencing global markets.

BTC’s price moving sideways on the 4-hour. Source: BTCUSDT Tradingview

Bitcoin Price Forms A Bottom… For Now

After last week’s U.S. Federal Reserve (Fed) announcement of a new interest rate hike, the Bitcoin price has been dominated by selling pressure. Bears managed to push the cryptocurrency close to its multi-year low at $18,000.

These levels have been operating as critical support as BTC’s price trends to the downside from an an-all time high of $69,000. As selling pressure gained momentum, Bitcoin has stayed about these critical levels.

Analyst Justin Bennett believes BTC’s price is re-creating a price action displayed back in early 2022. At that time, the Bitcoin price was recovering from a massive crash and formed a channel between $37,500 and $49,500.

The cryptocurrency traded sideways inside this pattern for several months only to be pushed down by macroeconomic developments. This led to another massive crash in May 2022.

Bennett believes the Bitcoin price might be forming a similar channel since late June with $27,500 potential operating as critical resistance. As seen below, the analyst believes BTC hit the bottom of the pattern and might be prepared to re-test the top at around $26,000 before crashing below $18,000.

The analyst wrote: “Same structure for $BTC as Feb-April, only we’re missing a retest at $26,000”.

Bitcoin Price Btc Btcusdt Chart 2
BTC’s price moving on a channel with a potential top at $27,500. Source: Justin Bennett via Twitter

Macroeconomics Ready To Support A Bitcoin Price Relief Rally

Additional data provided by Senior Analyst for Messari, Tom Dunleavy, suggests the crypto market might benefit from a bounce in traditional markets. As the Fed hikes interest rates, risk-on assets, such as Bitcoin and stocks, have shown a high correlation.

At the time of writing, bearish sentiment in financial markets seems to be reaching levels last seen in 2020, during the start of the COVID-19 pandemic. This is usually an indicator of a market bottom and potential relief as short positions piled up in the market.

According to Dunleavy, the Put/Call Ratio (P, a metric used to measure the number of call (buy) option contracts versus put (sell) option contracts is reaching a level of 1. This can be translated into a high bearish sentiment in global markets.

The last time the Put/Call Ratio was at its current levels, the Bitcoin price and the crypto markets went into a multi-year bull run and entered price discovery toward an all-time high. While the current macroeconomic scenario might cap any bullish price action, the momentum could be strong enough to hit $26,000, as Bennett proposed.

Bitcoin Price Btc Btcusudt Chart 3
Put To Call Ratio at its highest level since 2020. Source: Tom Dunleavy

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