Crypto News

American Express To Offer Their First Crypto Rewards Credit Card

American Express is rolling out it’s first-ever crypto rewards credit card as part of a partnership with Abra, according to a joint announcement at this week’s crypto conference Consensus in Austin. The announcement is a move in the footsteps of other major credit card providers, most notably Visa and Mastercard, but is still a major call-out in crypto integration into the current credit card landscape. There are over 60M AmEx holders according to figures from earlier this year – and now the network will bring access to direct cryptocurrency rewards for spending for the first time ever with a partner card with Abra. American Express And Abra Team Up The ‘Abra Crypto Card’ was unveiled at the annual Consensus event in Austin, Texas today, and will offer crypto rewards for any purchase category and amount, according to the formal press release. Abra offers a platform token, ‘Crypto Perx’ (CPRX) that is expected to be alongside a variety (but thus far undisclosed) of top tokens as options for earning rewards. It was a big day for the team at Abra, who paired the American Express announcement with news that their app would support custody and gallery views of NFTs. American Express’ president of Global Network Services Mohammed Badi stated that Abra brings “deep expertise in both crypto and traditional financial services” that makes them a fitting partner for the endeavor. ‘Crypto Perx,’ (CPRX) is the native platform ERC-20 token for Abra; the token saw strong positive price reaction to the news around Abra’s new credit card on the AmEx network. | Source: CPRX-USD on TradingView.com Related Reading | Solana To Support DeFi, NFT, And GameFi In South Korea With A $100M Fund Join The Club Visa and Mastercard are two of the most commonly-recognized names in the credit card business, but don’t sleep on American Express, who is only behind Citibank, Chase, and the two aforementioned top dogs when it comes to card issuance. AmEx has carved out a long-time niche of serving top dollar customers and offering commensurate rewards. The Abra card is expected to bring those rewards along with it too, with rewards from the slate of the AmEx network, including “Amex Offers (for shopping, travel, dining, services, entertainment, etc.), presale ticket access, Global Dining benefits, and purchase protections,” according to the press release. Abra joins a growing list of crypto-native card issuers with crypto rewards, including the likes of BlockFi, Gemini, Nexo and others. Even companies that aren’t crypto-first, such as Venmo and SoFi, are offering crypto reward cards. Related Reading | Head To Head: Bitcoin, Ethereum Profitability For Investors Featured image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

Crypto News

5 Up-and-Coming DOGE Projects that Might be Worth Your Money

In the 2021 bull run, cryptocurrencies that played on the dog theme dominated the market. It all started on April 2nd, when Elon Musk tweeted “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” In the weeks that followed, Dogecoin – cryptocurrency’s original meme – skyrocketed from a meager $0.05 to a high of $0.75 on May 7th. That means a DOGE holder who had $100 of Dogecoin on April 2nd would have had $1500 less than a month later. With the Tesla CEO incorporating DOGE into its accepted payments for merchandise sales and supercharging stations and suggesting that people who subscribe to Twitter Blue should be able to pay with Dogecoin, DOGE itself (approximately $0.08 at the time of writing) still has massive upside potential. But many feel as though they’ve missed out on the asset’s heyday. They’re looking for the next 10,000x that only comes from early adoption. These five dog-themed coins have the potential to do just that. Baby Doge ($BABYDOGE) is a deflationary token designed to become more scarce over time. They charge a 5% fee for each sale of the asset and redistribute that fee to Baby Doge Coin holders – meaning the longer you hold, the more you can earn. It’s worth noting that Musk himself tweeted about Baby Doge on July 1st 2021. Currently, Baby Doge sits at $263 million market cap. Dogelon Mars ($ELON) is a dog-themed project that seeks to outpace Dogecoin’s success. As the website says, “I am Dogelon. Dogelon Mars. Join me and together we will reach the stars.” The page refers to Musk’s vision of colonizing Mars – though the controversial billionaire has yet to mention the asset. ELON is currently ranked #126 on CoinMarketCap with a market cap of $267 million. Mini Doge ($MINIDOGE) started as a deflationary meme coin, but it’s since evolved into a Web 3 ecosystem complete with a play-to-earn adventure game that allows holders to earn NFTs and more tokens as they go. Mini Doge has a market cap of only $2.3 million. Pulse Doge Win ($PULSEDOGE) is a community meme token that was built on Binance Smart Chain with the intent of bringing adoption to PulseChain – a new layer 1 blockchain set to launch later this year. The website claims that those who hold PulseDoge on BSC at the time of PulseChain’s launch will receive an equal 1:1 airdrop on PulseChain. This means that if you buy the token now, you’ll get double for your money. PulseDoge has a $7.5 million market cap. Dogechain ($DC) is an up-and-coming layer-1 blockchain designed to give DOGE more DeFi utility. For a limited amount of time, $DOGE holders will be able to freeclaim $DC tokens when they bridge their DOGE over from centralized exchanges or other chains. Staking bridged $DOGE will yield $DC tokens over time, while staking $DC will allow users to earn yield, prizes, rewards, and voting rights on the Doge DAO. This means that buying $DOGE now could yield exponential gains when $DC launches. Additionally, the DogeChain team has been conducting a grand-a-day giveaway for the entire month of May. There are still a few days left to get involved. 2021’s epic bull run is over, but there will be another bull market, and people love their dogs. Dog-themed projects will continue to dominate the memecoin space for the foreseeable future. Will you 1,000x?  

Crypto News Ethereum

Bored Ape’s Land Sale Broke Ethereum. Extreme Success Or Roaring Failure?

On Saturday, April 30th, Bored Ape’s creators Yuga Labs broke Ethereum. Their new metaverse-inspired project, Otherside sold plots of virtual land to a roaring crowd of people yelling “Shut up and take my money!” In this case, the currency in question was the recently created ApeCoin. However, since Ethereum hosts ApeCoin and the land NFTs, the roaring crowd needed ETH to pay for the operations’ gas fees.  If you’re familiar with Ethereum, you already know what happened. According to IntoTheBlock’s Lucas Outumuro, “The Bored Ape’s Otherside land sale led to more fees being processed by Ethereum in three hours than in the previous two weeks.” Of course, all hell broke loose. The gas prices across the network went through the roof, many transactions failed causing people to lose their gas fees, and others just couldn’t afford to mint the NFT lands they were entitled to. At the end of the day, the Otherside virtual plots NFTs, known as Otherdeeds, sold out. The Ethereum network pocketed around $125M just in gas fees. It didn’t survive the madness unscathed, though. Several Ethereum-based projects reported failed and/or slowed down operations and Etherscan, Ethereum’s block explorer, completely crashed. “We’re sorry for turning off the lights on Ethereum for a while,” Bored Ape’s creators Yuga Labs stated. The Origins Of Otherside Back in March, Yuga Labs raised an Andreessen Horowitz-led funding round of $450M to build Otherside. Apparently, it’s a Metaverse project in the vein of Decentraland and The Sandbox, but with a Play-To-Earn element built into it from the beginning. That same month, they created the now-defunct http://somethingisbrewing.xyz/ to ask people to KYC themselves and link their personal info to their Ethereum addresses. Those registered addresses had the right to mint two plots of land in the Otherside playground. Bored Ape’s holders received two free plots each. There are a total of 55K Otherdeeds. To mint each one cost 305 ApeCoin, plus the Ethereum network’s gas fees. Even though it was expensive, considering Yuga Lab’s successful track record, it seemed like a steal. Until the gas prices rose to unpayable levels, that is. ETH price chart on FTX | Source: ETH/USD on TradingView.com Bored Ape’s Creators Yuga Labs Speak After selling everything, breaking everything, and leaving humble collectors land-less, the Bored Ape’s creators responded to the controversy with this brief Twitter thread. We know that the Otherdeed mint was unprecedented in its size as a high-demand NFT collection, and that would bring with it unique challenges. — Yuga Labs (@yugalabs) May 1, 2022 Among other things, Yuga Labs stated: Even though they took the mentioned KYC measures, too many people wanted in. “This has been the largest NFT mint in history by several multiples, and yet the gas used during the mint shows that demand far exceeded anyone’s wildest expectations.” Soon, ApeCoin will cease to be an Ethereum token and will become a full-fledged cryptocurrency. “It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. ” We're sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We'd like to encourage the DAO to start thinking in this direction. — Yuga Labs (@yugalabs) May 1, 2022 They will refund the gas fees of the operations that didn’t go through. “For those of you affected, we appreciate your willingness to build alongside us – know that we’ve got your back and will be refunding your gas.” In a posterior tweet, Yuga Labs announced that the gas-refunding process has already started. “Note that you do not need to do anything – we will transfer it all back to your wallet and announce when it is completed. Don’t click any links.” We are still working on refunding all Otherdeed minters with failed transactions their gas. Note that you do not need to do anything – we will transfer it all back to your wallet and announce when it is completed. Don't click any links. — Yuga Labs (@yugalabs) May 2, 2022 Even though it sounds like the Bored Ape’s creators are doing the right thing, its worth noting that the people receiving said refunds didn’t get to buy an Otherdeed NFT and the collection sold out. They can still get them in the secondary market at a premium, but the community is not pleased. Bored Ape’s Users Speak What follows is a narrow selection of opinions about the launch. Most of these people are Bored Ape’s rich and are heavily invested in the Yuga Labs ecosystem, but they’re worried. Let’s summarize what they said. According to Ap3father, “The drop went unbelievably poorly. That’s the truth of it all.” Plus, “this drop did nothing to help further the distribution of the already popular Yuga community … the same 27.5k people bought ..” However, he reflects, “Yuga Labs made me a millionaire. I am beyond spoiled, humbled, and blessed to be in this situation because of them.” The drop went unbelievably poorly. That's the truth of it all. The initial thesis was that not enough KYC wallets exist for it to sell out in wave-1 .. not only was that incorrect … It sold out with 2+E in gas the entire way … a nightmare scenario … — ap3father.eth (@ap3father) May 1, 2022 His conclusion is that “The community responded atrociously to this mint.” And his advice is to sell, “You may have millions in NFTs and that’s outstanding, but grab onto reality. When you die one day … they don’t bury you in the metaverse my friend. ” He has extra Bored Apes, though, so he’s not going anywhere. “I am excited to both sell some apes & continue my journey into the otherside.” For his part, Irish expressed suspicion. “How does the biggest innovators in the space not forsee a gas war? You literally have every address, identification of every KYC’d.  Offer each KYCd 2 lands?” And tried to get Yuga Labs to honor their promise to sell him an Otherdeed, “We hear how you “make good” I’m thrilled you are paying failed transactions! Acknowledge your mint mistake.” I spent 3 hours constantly refreshing and trying like many here. If you really want to spread to wallets let those KYC'd mint. We should've been given 2 weeks. And put on allowed mint list on contract. Similarly like Gary Vee did, Instead you chose PR nightmare. — Irish (@Irishmikeys) May 2, 2022 On the other hand, 3433 defended Yuga Labs. “Yuga let us mint BAYC for 0.08, they gave us Dogs to claim currently worth 9 ETH, they gave us free serums worth 57 ETH to drink or hold/sell which made Mutants, worth 30 ETH, they gave us 100-200k USD worth of $APE coin.” Sure, maybe the mint could of gone better, we could of had a Cue/Raffle system, but at the end of the day every successful mint on ETH is a fucking shitshow, we all know this. — 3433.eth 🍌 ☕️ (@boredape3433) May 1, 2022 Vitalik Buterin Speaks Last but not least, Ethereum’s creator Vitalik Buterin defended the Yuga Labs smart contract that governed the whole operation. “Regardless of contract details, tx fee goes up until list price + tx fee = market price. If gas usage per purchase decreased 2x, the equilibrium gas price would have just been >12000 gwei instead of 6000.” Don't think optimizing the contract would help. Regardless of contract details, tx fee goes up until list price + tx fee = market price. If gas usage per purchase decreased 2x, the equilibrium gas price would have just been >12000 gwei instead of 6000. — vitalik.eth (@VitalikButerin) May 1, 2022 Nevertheless, the Bored Ape’s creators seem pretty determined to create their own blockchain. Some people even suggest that they orchestrated this whole situation to justify and market it.  Featured Image: Bored Ape’s metaverse Otherside logo from the site | Charts by TradingView

Crypto News

Shiba Tron, The Shiba Inu And Floki Inu ‘Killer’ That Soared 1,000%, Is A Potential Scam

This token, named after the surprising hit of 2021, Shiba Inu, has almost no value. Fortunately, the bogus token was spotted early on, preventing Shiba Tron from duping other users. Shiba Tron (SHIBT) is a new addition to the growing pack of meme currencies featuring dogs. A few days ago, the SHIBT coin soared by more than 1,000%, capturing investors’ interest. PeckShield, on the other hand, has issued a warning to cryptocurrency aficionados regarding SHIBT. The contract, according to the blockchain security firm, has a piece of code that restricts token sales to whitelisted individuals. Wallet addresses that have been issued tokens but have not yet been added to the whitelist will be unable to send funds. Beware Of Shiba Tron PeckShieldAlert mentioned the token in a tweet, along with an image of a code. Additionally, the renowned blockchain security group stated that Shiba Tron is a fraud. The term “whitelist” refers to a list of bitcoin addresses that are deemed reliable. Only addresses listed on the Whitelist have the ability to withdraw funds from their exchange account. PeckShield recommends avoiding tokens or coins that restrict users’ capacity to sell, transfer, or conduct transactions using their own cash. Related Article | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning Total crypto market cap at $1.901 trillion in the daily chart | Source: TradingView.com Quite frequently, producers launch token sales, issue tokens, and then restrict access to certain wallets to exchanges. PeckShield said Shiba Tron is operating a honeypot scam to entice investors to invest in the cryptocurrency. After investing, the user will receive their SHIBT tokens but will be unable to transfer or sell them. Heavy Transaction Volume According to statistics from BSCScan, SHIBT has a total market capitalization of more than $53 million and 5,681 investors. The data indicates that over 10,000 transactions have occurred, and some users are still interacting with the coin. These statistics are a little concerning, considering the token is subject to withdrawal restrictions. The only option to resolve the concerns and avert a significant exploit is to fork the entire token, which is nearly impossible to achieve in the absence of complete community decentralization or a token with a limited capitalization and number of holders. Related Article | Criminal Whales Hold $25 Billion In Crypto Assets: Chainalysis Report One of the most effective strategies of enticing individuals to invest is to pay them 6% on each transaction. SHIBT has a 10 billion unit supply. Some 4 billion have been burned, and holders will earn 6% on each transaction, according to the cryptocurrency’s whitepaper, which was issued in January. On Twitter, the SHIBT coin’s official page has surpassed 19,000 followers. Meanwhile, the coin refers to itself in a post as a Shiba Inu (SHIB) and Floki Inu (FLOKI) “killer.” Featured image from YouTube, chart from TradingView.com

Altcoins Analysis Bitcoin Blockchain

Metashooter: Cardano-based Play-to-Earn Hunting Metaverse Takes Things To The Next Level

Metashooter: Cardano-based Play-to-Earn Hunting Metaverse Takes Things To The Next Level

Metashooter, the Play-to-Earn Hunting Metaverse Built on Cardano is delighted to announce that it has made significant progress in advancing its play-to-earn hunting metaverse. Offering gamers incredible features and incentives to make their time on the site valuable. There is currently no such rivalry for this hunting metaverse, particularly among Cardano blockchain users. It is […]