Crypto News

Shiba Inu Fanbase Awaits Eternity Download Event – Will It Boost SHIB Price?

The original release of the blockchain implementation of Shiba Eternity occurred in Australia on September 17. Shiba Inu followed the larger market sell-off that began on September 13 and rallied nearly 7% from September 17-18. During this time span, the rally did not significantly alter market sentiment. New information about the game’s release, though, may add some hype. According to a recent tweet by Shib Rumours, the release date of the game is set for October 1. However, the latest post on the official Shiba Inu Twitter account indicates that the worldwide launch of the game will take place on October 6. SHIB has a current trading range of $0.00001073 – 0.00001154. Could the meme coin see a resurgence after the game’s release? Related Reading: Uniswap Could Slide Below Support Zone – No Demand For UNI This Week? Shiba Inu: Increasing Speed After the latest sell-off on September 18, an uptrend has been noted and has been very consistent up to the time of writing. Given that this occurred only a day after the Australia release, it’s likely that long-term token holders witnessed the price increase and sold off their holdings. During this period, the memecoin saw a pullback and plummeted 8.5% immediately. Currently, the recent price movements have created a head and shoulders pattern before to today’s breakout. During this breakout, the price increased by 2.9% Given the current state of Shiba Eternity, this price movement can be regarded as a sign of increased anticipation for the game’s October 6 release. ETH whales are also contributing to the hype train. According to WhaleStats, the top 1,000 Ethereum whales have more than $147.5 million. WhaleStats also regarded Shiba Inu as the token with the highest dollar value position. Related Reading: ApeCoin Performance Could Attract The Whales – How About The Bulls? Keeping A Close Eye On The Market Therefore, there are a few things that future Shiba Inu players and investors/traders should be aware of. One of these is that a price increase is frequently followed by a severe market correction, similar to what we experienced on September 18 following the rally on September 17. As of this writing, SHIB is trading at $$0.00001137, up 2.5 percent in the last seven days, data from Coingecko show, Saturday. As October 6 approaches, we will have a better sense of whether Shiba Inu will increase in value or decline further. SHIB total market cap at $6.29 billion on the daily chart | Source: TradingView.com Featured image from VOI, Chart: TradingView.com

Altcoins Bitcoin Crypto News Ethereum

Why Bitcoin, Ethereum May Not Be The Best Plays For The Next Bull Market

Since the launch of bitcoin, there have been massive gains recorded by those that got in early and held on long enough. The same was the case with Ethereum, whose market cap grew to the hundreds of billions. However, the growth that these digital assets have already seen over the years, it has put a hamper on how much they can still grow over the coming years. This is why investors are looking elsewhere for larger gains. Bitcoin, Ethereum Gains Are Lower Over the last bull market, it became apparent that bitcoin and Ethereum will no longer be able to give the kind of returns that early investors had gotten. During the previous cycle low, bitcoin had dropped to as low as $6,000 but had reached $69,000 during its peak. This was a 10x growth for the digital asset. Related Reading: Why Most Public Bitcoin Miners Have Performed Terribly In Their Lifetimes The case was similar to Ethereum, the second-largest cryptocurrency by market cap, although it had fared much better compared to bitcoin. It had grown from its cycle low of around $100 to $4,800 at its peak. This was about a 500x growth for the digital asset. BTC grows 10x | Source: BTCUSD on TradingView.com However, their already massive growth has been putting investors off of them, not because they are not good investments but because the potential to explode exponentially has been greatly reduced. An example is that from bitcoin’s current price, even if it were to reach $100,000 per coin, it would still be a less than 10x growth. The same with Ethereum, although the digital asset does carry more potential for larger growth compared to bitcoin due to it being much younger. If ETH were to grow to $10,000 per token, it would barely be a 10x growth. Altcoins Take The Cake Altcoins had barreled ahead of market leaders such as bitcoin and Ethereum when it came to gains in the last bull market. Where these large digital assets were doing below 500x, smaller altcoins such as Dogecoin and Shiba Inu had recorded ROI in the thousands. Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity Mainly, meme coins were notorious for such returns, but altcoins from other spheres had seen the same kind of growth too. FTM is a token that had traded as low as $0.2 and peaked above $3.4 during the bull market. DOGE’s price had made an impressive run-up from $0.004 to $0.7 at the height of its rally. However, these are only, but a small example of the many ways altcoin had been great investments during the bull market. With the next bull market expected to happen in 2024, it is no surprise when investors are turning to smaller cap tokens in hopes of catching the next DOGE or SHIB. Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike. Featured image from Medium, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Crypto News

Web3 Wellness Platform Amino Celebrates Historic Career of Four-Time NBA Champion Klay Thompson in Inaugural Drop of the GRAILS NFT Collection

As the first drop in a series of NFT launches, the collection will be available on Binance NFT to celebrate the amazing careers and accomplishments of some of the world’s most recognizable athletes Amino, a new platform that is bringing health and fitness into Web3, has announced it is launching a new NFT collection to celebrate the incredible career of Klay Thompson, one of the famous “Splash Brothers” of the Golden State Warriors. The Warriors are the reigning champions of the NBA, and this collection features unique artworks from Klay Thompson’s 2015, 2017, 2018, and 2022 championship runs with the Warriors. Andrew Shore, the CEO of Amino, said in a statement that the Binance NFT marketplace is the perfect choice for the launch of the GRAILS collection. “Klay Thompson is a globally-recognized and beloved NBA superstar, and we are extremely excited to be kicking off our partnership with Klay’s NFT collection on Binance NFT to allow fans to be part of and experience his most iconic career moments in new and innovative ways,” he said. Amino says it is bringing health and wellness into Web3 and user engagement via NFTs. That is why the recognition of successful superstars is an important part of the company’s vision, Shore explained. To meet consumer demand for exclusive, high-end NFT drops, Binance NFT uses Mystery Boxes as part of its drops. These drops go on sale exclusively on the Binance NFT marketplace. The drop for the Klay Thompson collection is set to go live on October 18, 2022. The drop includes 10,000 Mystery Boxes at $50 each. Depending on rarity and exclusivity, some of these NFTs will include exclusive Klay Thompson memorabilia, from autographed jerseys, basketballs, and photographs, to live experiences and in-person and online access to events and other in-demand offerings. Every one of the 30 NFT collections set to be launched by Amino as part of the GRAILS project will celebrate iconic athletes across a range of sports. All of the drops will include rare NFTs that unlock special experiences and memorabilia, thereby helping to connect users not just to online, Web3 experiences but to real-world, in-person, and physical items and assets. Users can follow news about the Klay Thompson GRAILS drop on Twitter at @aminorewards and @thebinanceNFT. Amino says that future drops and athletes will be announced as part of this exciting new collection. Amino positions itself as a health and fitness ecosystem that brings personal wellness into Web3.  It has a unique suite of personal fitness apps, premier athlete NFTs and Metaverse gaming for users to earn by staying active and “being the best version of themselves”.

Altcoins

Here Are Some Top Crypto Projects To Track for the Next Bull Market, According to Bankless

The crypto finance platform Bankless is detailing several digital assets and sectors that traders may want to keep an eye on for the next bull market. In a new update to subscribers, Bankless says even though the digital assets industry feels “rudderless” right now, the future is bright. The outlet says it’s closely watching the […]

The post Here Are Some Top Crypto Projects To Track for the Next Bull Market, According to Bankless appeared first on The Daily Hodl.

Altcoins

Second Largest Stablecoin by Market Cap Expands to Cosmos (ATOM), Polkadot (DOT) and These Three ETH Rivals

USD Coin (USDC) issuer Circle says it intends to make the second largest stablecoin by market cap available on five additional blockchain ecosystems. The digital financial technology firm says that USDC will be available on layer-1 blockchains Arbitrum One, NEAR Protocol (NEAR), Optimism (OP) and Polkadot (DOT) by the end of the year. The stablecoin will […]

The post Second Largest Stablecoin by Market Cap Expands to Cosmos (ATOM), Polkadot (DOT) and These Three ETH Rivals appeared first on The Daily Hodl.

Crypto News

ApeCoin Performance Could Attract The Whales – How About The Bulls?

ApeCoin has recently made it to the top 10 in terms of trading volume from over 100 of the largest ETH whales as seen in the past 24 hours. APE made it to the top 10 in terms of trading volume ApeCoin’s MRV has been seeing sustained growth APE price up by 1.46% The Bored Ape Yacht Club isn’t running out of cards to play with the integration of a new staking rewards program that caught the attention of many ETH whales. The developments surrounding the BAYC token could be the main culprit for its recent popularity. The buoyancy experienced with the increase in whale interest is just one of the many impressive developments happening for APE. Related Reading: QUANT Basks In Green As QNT Coin Surges 35% On 7-Day Rally ApeCoin Bullish Technical Indicators For one, ApeCoin’s MRV has been seeing sustained growth and doing tremendously well over the past month. With all of these positive indicators flashing, investors will see this as a bullish streak for APE. Additionally, APE’s market capitalization has also surged from $1.46 billion to as much as $1.65 billion as of this writing. According to CoinMarketCap, the APE price has skyrocketed by 1.46% or trading at $5.40 as of this writing. However, APE’s trading volume has seen a massive reduction from 590.45 million to 141.08 million. ApeCoin also registered a drop in terms of activity which shows the limited wallet transactions. Based on this scenario, the APE price could sink below the $5.135 key support line in the coming days. Moreover, the altcoin’s RSI at 39.64 and CMF at -0.03 also demonstrate a bearish movement. Based on the APE chart, there really isn’t much traction noted since its launch in March. Notably, APE has plunged by as much as 80% from its ATH with NFT demand going down; the demand for APE also dwindled down. There is really so much going on in the NFT market that is causing the sideways motion of ApeCoin. BAYC Innovates With Rewards Staking Program If there’s one thing really impressive about the BAYC, it is the creators who continuously reinvent themselves and innovate their brand to be more relevant to their target market. Its staking rewards program is one of its huge developments so far. With a rewards staking program, the crypto is locked up for a certain period at which you’re not allowed to trade it but it generates passive income for you as the owner. By letting someone gain access to your crypto for a prescribed time, you earn rewards. Staking rewards are extremely popular with investors because you gain more revenue by staking your altcoin especially if it’s relatively going up in value. The sneak peeks of the ApeCoin rewards staking program were rolled out on September 3. Recently, on September 22, Apecoin revealed that the rewards staking program will go live on October 31. Related Reading: Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows APE total market cap at $1.65 billion on the daily chart | Source: TradingView.com Featured image from MakeUseOf, Chart: TradingView.com

Crypto News

STEPN (GMT) Holds Gains While Many Top Coins Taste Declines

The GMT’s price has been in a strong upward trend in the past seven days despite other major coins nosediving. It experienced a 13% 7-day growth and a 24-hour gain of 0.53% this morning. Meanwhile, several top coins like FEI USD, Basic Attention Token (BAT), and Ravencoin have seen their prices plummet badly. STEPN (GMT) remains a major move-to-earn crypto project in the market despite fierce competition from the likes of SWEATCOIN. With a market cap of over $400 million, GMT is the 87th largest cryptocurrency by market capitalization on Coinmarketcap.  Related Reading: BIS Announces Successful Completion Of CBDC For Cross-border Transactions STEPN Pumps Thanks To GigaSpace Partnership The coin’s price has risen significantly over the past few days after it announced its partnership with GigaSpace metaverse. The partnership will see both companies building a STEPN virtual city for community members.  STEPN users can buy STEPN items, organize community events, and engage with others in the metaverse. It’ll have a sports theme and have buildings and amenities, including stadiums, shopping malls, and communal space. After the announcement on GigaSpace’s official Twitter handle, the coin price doubled within 24 hours. This was followed by a steady weekly rise from $0.59 on the 21st to $0.73 yesterday. Meanwhile, other top coins were all down between -5% and -10%. Surviving Amidst Competitors And General Bearish Sentiments STEPN (GMT) has enjoyed a good run since its inception in 2021. Over 4.72 million people have downloaded the app, attracting $5 million in financing and one million active daily users. But in recent weeks, the GMT price exhibited a significant negative trend as Stepn activity showed symptoms of slowing. Sweatcoin’s rise in popularity coincided with its decline. On September 13th, Sweatcoin released its own cryptocurrency, SWEAT. CoinMarketCap reported that the price of SWEAT increased by over 30% in the 24 hours following the launch. As a result, it’s likely that the introduction triggered the GMT price struggle as investors rushed to purchase SWEAT. GMT had also struggled alongside the entire crypto market. On April 29, 2022, it climbed to an all-time high of $3.80. But by the middle of June 2022, it dropped to its all-time low of$0.58, plummeting even more sharply than GST, its sister token. GMT Price Predictions Despite these bearish sentiments, GMT has managed to hold onto its position this week. It closed with a 10% increase two days back at $0.684746.  The trading volume over the last 24 hours totaled $265,743,486, with a current price of $0.6719. STEPN lost 0.39% in the past day, ranking #87 on CoinMarketCap with a $400,997,811 market cap. There are a total of 600,000,000 GMT coins in circulation and a maximum of 6,000,000,000 GMT coins available. Related Reading: Is Short Bitcoin ETF Exposure Gearing Up For A Squeeze? STEPN may find support at $0.5964 after bouncing to $0.8070, which is now its resistance. If the GMT price manages a strong breach over $0.8070, it might go to $0.9215 or $1.1170.  Featured image from Pixabay and chart from TradingView.com