Crypto News Ethereum

Ethereum Hashrate Breaks All-Time High, Will Price Follow?

Ethereum hashrate has been on the rise in recent times. The cryptocurrency has been one of the most profitable ventures for crypto miners and as more people flocked to enjoy some of the spoils, the hashrate has skyrocketed. It has now hit multiple all-time highs in just the space of May alone. However, the question remains if the price of the digital asset is set to do as well as it has done in terms of its mining hashrate. Ethereum Hashrate Hits New ATH The month of May would prove to be a very good one for Ethereum when it comes to mining. After steadily climbing through the month of April, mining hashrate had touched as high as 1.1923 PH/s on the 3rd of the month. This was understandably widely celebrated in the market but it was far from done. Related Reading | Bitcoin Funding Rates Remain Unmoved Despite Plunge To $30,000 The next couple of weeks would be new all-time highs set after the other. Now, two weeks into the month, it has reached another ATH. On 13th May, the Ethereum hashrate had climbed to 1.2370 PH/s. This is the highest that the hashrate has ever been. It represents a 124% growth on a year-over-year basis.  ETH price settles above $2,000 | Source: ETHUSD on TradingView.com Ethereum still operates on a proof of work mechanism though and it is reported that there are over 80 mining pools that are currently providing the hashrate for the network. One thing to note is that the hashrate has been on the rise as the “Merge” draws closer. This upgrade would effectively eliminate the need for high computing machines required to solve complex equations to verify transactions. Instead, the network would use a proof of stake mechanism to carry out transactions.  How ETH Is Doing Ethereum has managed to make its mark above $2,000 once more. This has come after a long week fraught with crashes and dips. A hard-won victory but a victory nonetheless. However, it would seem to be the only one trend-wise.  Looking at the indicators for the digital asset, it has marked an incredibly bearish trend for both the short and long term. Even though it is maintaining its position above the $2,000 level at the time of this writing, it still marks all the boxes for a bearish asset, such as trading below the 50 to 200-day moving averages. Related Reading | Ethereum Tumbles To 10-Month Lows As Sell-Offs Intensifies Sentiment among investors has also skewed completely into the selling territory. With even the 100 – 200-day MACD pointing towards sell. What this shows is that the selling pressure on investors at this time is one of the highest it has ever been in recent times. Nevertheless, ETH holders are not doing too badly compared to others. The majority of those who hold the digital asset remains in the profit territory even though ETH has lost over half of its all-time high value. It is also worth noting that the majority have been holding their coins for more than one year. Featured image from Medium, chart from TradingView.com

Crypto News

CyberCity game review: Fight for Crypto & Dominate the Cyberpunk Metaverse

Play2Earn games are the future of gamingб all because they completely turned the idea of ​​​​the mechanics of earning crypto and in-game assets ownership. Today you can earn cryptocurrencies just by playing games. One of the most promising P2E games is called CyberCity. We decided to go behind the scenes and find out what makes the game so remarkable and how users can earn money in it. The fight for resources and power: reveal the storyline of the game Cyber ​City Inc is a new game with an open Play-to-Earn economy, great gameplay,  tradable NFT assets, and sustainable tokenomics. The game takes place in the distant 2088 in a dystopian megapolis. Players can collect their unique scarce NFTs and fight fo resources to dominate the cityblocks. Their task is to get as many resources and lands as possible, which are necessary for the survival and progress. Some resources can be bought from other participants or created on your own, and some will have to be fought for in battles. The game is divided into two main parts of the gameplay: Cyber City map and Battles. CyberCity Map In fact, the Cybercity Inc map is the place where the events of the game unfold. Users can buy certain blocks of land and create their own sectors and buildings on them, as well as extract the necessary resources. There are 4 resource types: GOTA, MePa, BMass, and WJuice. Each resource can be earned or conquered in battles. When they are no longer enough, the player can decide to buy new lands with the help of NFT or try to win them back from opponents. In the future, users will be able to rent part of the land and receive rental payments in CYBR tokens. The better a piece of land is fortified and developed, the higher its value. CyberCity fights As mentioned above, the fight for resources can be not only economic but also physical. In fact, players can reclaim land and resources from their opponents using advanced warriors. Each character(Cyberian) has their own superpower and abilities, as well as weapons: from samurai blades to magic spells. Players can use the abilities of warriors, as well as upgrade them, increasing their strength and vitality. Each warrior has his own companion who helps in battles, gives buffs, or heals the owner in case of injury. Game characters and clans In total, the game provides 10 clans and 10 types of heroes and companions who have different skills and strengths. Here are the main heroes of CyberCity. Cyber Samurai and Armored Shiba Inu. He is the last stronghold of tradition and honor in the Dystopian World of Iniquity. His weapon is his soul, and it doesn’t have any room for mercy. Man’s best friend, Armored Shiba Inu, with heavy armor is ready to fight to the death alongside the owner. Hage and Cyber Spirit. Hage harnesses a new type of magic power using the laptome. With this tool, he can cast the spells and make his opponents tremble before the immeasurable power. He is accompanied by Cyber Spirit, some type of Spirit, which came from the Internet and got stuck in the mortal plane. Tech-Priest and Tech Octopus. The priest of the cult of the Machine long ago abandoned his humanity, becoming a Gear in the Construction and Plans of the cult. Strives for complete augmentation of his body for unity with the Machine. His companion is an extinct marine animal called Tech Octopus. ShapeShifter and Nyanko. In the past, they were characters from extremely popular anime, but these beasts manifested into reality through the sheer willpower of their global fandom. Vampire and Cyber Bat. His digitized soul is ripe for picking the new nutrition. Cyber Bat outlived the creators and now runs freely and terrorizes the population of Cyber City. Because of their rebellious nature, they can only be tamed by someone truly terrifying. Street Fighter and Stray Cat. A man with armed hands whos accompanied by a Stray Cat. Unlike his ancestors, he’s way bigger than the ordinary cat with intellect and ferocity. Mercenaries and Iapetus. The brutal heroine of Cyber ​​City is accompanied by a flying war machine with artificial intelligence. Due to their advanced AI with basic emotes and the time spent with the owner, many veterans consider them to be some kind of pet, a very deadly pet. Buccaneers and Clockwork Parrot. This man looks like a modern-day pirate, along with the Clockwork Parrot, a faithful companion of those who chooses a life of adventure and robbery. Paladins and MechAngel. His blade has traveled into the future to bring order. Paladins is supported by MechAngel, which is an attempt to recreate the characters from the long perished religious texts. Scavengers and Multipurpose Drone Companion. Scavengers prowl the streets for spoils. Their companions, Multipurpose Drones, help to forget about the monolith solitude of modern existence. It is full of surprises since even its creators sometimes don’t know what it’s built from. To get a character, weapons, and companions, you need to purchase one of the three boxes. Each box contains one or more characters and weapons, companions, and a piece of land. NFT marketplace CyberCity NFT marketplace is live. Now players can buy, sell and trade valuable NFT assets. A small teaser here – players can unbox their NFTs to find their valuable Cyberians inside, but it’s better  to keep them as right after the IDO CyberCity will release new Secret Missions feature so players can earn CYBR token🚀 How to make money with CyberCity The game provides the mechanics of active and passive earnings, which are available to each user. Passive income is provided by several resources. Firstly, users can profit from owning virtual lands in the Cyber.City virtual city. To do this, it is enough to buy a certain piece of land. If the user upgrades his piece of land, that is, he builds some kind of building or increases its scale, then its cost increases, and therefore the income of the owner also grows. Secondly, the user can sell his site at any time and profit from the sale. Active income directly depends on the professionalism and level of the player. You can receive CYBR tokens from: Sale of resources inside the game for CYBR, namely the sale of in-game resources to other players for the CYBR token inside the game by mutual agreement between the players Selling NFTs for CYBR on the marketplace to other players Attacking the cells of other players in order to steal CYBR tokens. The player can form a detachment and send it to the enemy cell, if the strength of the attacking team of the player is greater, then he captures part of the CYBR tokens, if less, then he only spends energy. Battles with other players where the player can win back resources and CYBR currency in case of victory The CYBR token is used as a means of payment within the game. It is an in-game token that is used as an internal means of payment. In addition, users receive rewards for completing stages and completing missions in the CYBR token. Other types of earnings will also be available for players, such as farming and staking. Already in April, the developer company will hold a public CYBR token sale(IDO), where everyone can purchase crypto coins to buy NFTs and upgrade their heroes. Details here. Conclusion CyberCity presents a unique Play2Earn game with great gameplay & NFT characters with two types of earnings: active and passive, thanks to which any user can earn income from participating in the game, even if he is not an active gamer. The creators of the game promise to release it in the first half of 2022, and the full version of CyberCity will be available in 2022.

Bitcoin Crypto News

Bitcoin Slips Below $40k After Hostile Statements From Fed

Bitcoin, the flagship crypto slipped below $40K after the Federal Reserve Bank of the United States made hostile comments. Powell stated on Thursday that at the upcoming Federal Open Market Committee meeting, the Federal Reserve will consider raising the benchmark interest rate by 50 basis points (0.5 percentage point). Bitcoin Slips Below $40K It was just a few days ago that the leading cryptocurrency hit a high of about $43,000, its highest level in over 10 days. This was an especially surprising price given that the asset had fallen to a monthly low of just $39,000 earlier this week. BTC, on the other hand, was roundly rejected at its local peak and quickly reversed course. The asset’s value plummeted to $40,000 in a matter of hours. As the bulls lose the $40,000 support level, a level that has yet to be established as a meaningful line this year, the most valuable coin has no shortage of negative mid-term predictions. Bitcoin’s price failed to retain the important levels of $41,500 and $40,000 despite a strong negative control. Bears are expected to aim for the $38,536 swing low from Monday, which is a clear objective for those still in the trade. If the swing low is breached, the BTC price may be disappointed and fall back to low $36,000. As a result, bitcoin’s market capitalization has dropped to $750 billion, after briefly surpassing $800 billion earlier this week. Related Reading | Why A “Boring” Bitcoin Could Be A Good Thing Buy Or Sell? BTC price has to open above $44,088.73 on Monday, as a Macron victory will cause the Greenback to fall further, allowing for further upside possibilities. Add to that the fact that news from Ukraine is becoming increasingly second-tier and receding into the background, indicating that talks are still ongoing and a solution might be reached at any time, as Russian military efforts are now focused solely on the west, rather than the entirety of Ukraine. The French election is the major event risk this weekend. If Le Pen, a far-right candidate, defeats Macron in the election, expect a huge market shift and shock on Sunday evening and Monday in the ASIA PAC session. Currently, investors are ‘waiting and watching’ to see how the supply-demand situation will react to the support area. Since late January, the BTC price has been trading in a ‘rising wedge pattern,’ as shown on the weekly chart. BTC/USD trades at $39k. Source: TradingView A bounce-back is expected at the price from the current level with the bulls targeting the 51,000 mark. However, in this course of the journey, the bulls must close above the 50-day EMA (Exponential Moving Average) at $43,071. Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes Featured image from Pixabay, chart from Tradingview.com

Crypto News

$UIM Tokens to list on April 18th

Universe Island has announced the listing of its $UIM tokens on PancakeSwap which would provide its users with an avenue to trade. The listing is scheduled for the 18th of April 2022, shortly after which the first beta version of the game would be launched. $UIM is a BEP-20 token hosted on the Binance Smart Chain and serves as the official in-game token of Universe Island– a classic 1vs1 shooting game that will take the Play-to-Earn gaming experience of users to a whole new level with its NFT integration and crypto rewards. These tokens will be rewarded to players upon winning the 5 minute long matches and can also be claimed from loot boxes. When it comes to the versatility of these $UIM tokens, the team of Universe Island has done a splendid job at providing players with options on how they wish to use the tokens. The $UIM tokens could be used by token holders to avail several in-game benefits. The tokens could also be used to trade in-game NFT collectibles on the NFT Marketplace provided by Universe Island with no additional fees while using UIM tokens as the currency. However, an additional 5% fee will have to be paid while trading with BNB. Rewards could also be staked by users by staking their $UIM Tokens at the NFT marketplace. Staking would open a host of gateways for rewards such as monthly special airdrop, and better NFT rewards in terms of rarity for those who stake for a longer time while also having the lootbox rewards activated along with NFT equipment reward straight after staking that would be claimable at the market. In fact, six months takers will receive NFT that will give them right to the Whitelist, thereby, enabling them to buy land and much more. Furthermore, the token holders would have a say in the governance of the game and ecosystem of Universe Island. These NFT cards also would provide power-ups that could make all the difference between victory and defeat when put in the mix of skills and efforts of players. Apart from providing unique boosts, these NFT cards could also be put on display at the Metaverse gallery as a badge of honour of how much the player has evolved, and could also be viewed on characters using our AR Technology! The key to better NFT rewards for players is fairly simple- the bigger you hold, the better the rewards! Another thing to note is that the UIM tokens also have the option of being withdrawn on-chain by putting up a claim request that is followed by a week-long verification period. This verification period exists to ensure the detection of potential unfair means that players could have resorted to during games. Promising a limitless metaverse with several features and maps, Universe Island is geared to provide players with a P2E experience of a kind with its story-driven narrative, action-packed matches, NFT incorporation and crypto rewards. All you need is a mobile phone and you are good to go!   Disclaimer: The content for this article is provided by Universe Island. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.