A guy who has a challenge. Starting with crypto from scratch. That means generating money to invest, staking and trading to the top 💯. Now see what we'll get.
The global cryptocurrency market cap now stands at $2.66T, up by 1.18% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $69,712 and $71,552 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $69,873, down by -1.11%.
Most major cryptocurrencies by market cap are trading mixed. Market outperformers include RVN, FIS, and LQTY, up by 29%, 29%, and 19%, respectively.
Elon Musk Finally Says When Tesla Will Take Dogecoin.💲🚀 When asked when Dogecoin would be accepted as payment for Tesla, the wealthiest man in the world, Elon Musk, finally said up. Musk spoke on his long-standing support for the meme currency and his fondness for it. "At Some Point," Tesla Will Accept Dogecoin Payments.Musk said, "at some point," when speaking to workers at the Gigafactory in Berlin, that Tesla would accept Dogecoin as payment. The fact that he could use DOGE to purchase Tesla merchandise was something he deemed "cool." "Dogecoin to the moon." The wealthiest guy in the world also expressed his optimism about the meme coin. Once the Tesla Supercharging Station in Hollywood opens for business, Musk has already planned to accept DOGE as payment. This is all part of his support for the joke currency. The cryptocurrency has also found use in Musk's Space X, since DOGE has been used exclusively to enable transactions with Geometric Energy Corporation (GEC). The latest comment from Musk, like all of his earlier ones on DOGE, has given the leading meme currency a much-needed boost. Following the remarks of the wealthiest man in the world, the cryptocurrency token, which had been experiencing a precipitous fall, recovered and has since achieved considerable gains. It's ironic that Musk is reiterating his support for DOGE just as the token needs all the positive press it can get to keep its status as the most valuable meme. Dogecoin has competition from other popular meme currencies such as Shiba Inu (SHIB) and Dogwifhat (WIF). Shytoshi Kusama, the head developer of the Shiba Inu, made the audacious assertion that SHIB would dominate this market cycle. Recently, plans to project WIF on the Las Vegas Sphere were completed, therefore the WIF community is also taking things into their own hands. As a result, the war of the memes could hinge on Musk's endorsement of Doegcoin. #HotTrends #doge #WIF
Analyst Predicts Lower Probability of Approval for Ethereum ETF in 2024
According to BlockBeats, market maker GSR analyst Brian Rudick has significantly lowered the predicted probability of the U.S. Securities and Exchange Commission (SEC) approving a spot Ethereum ETF in May 2024. In a report on Wednesday, Rudick stated that the likelihood has dropped to 20%, compared to the 75% probability predicted by GSR in January.
The analyst explained that the SEC has faced political pressure to not approve more digital asset ETFs. Additionally, the SEC's investigation into whether Ethereum is considered a security could significantly reduce the chances of approval. Regulators may seek to avoid turning the potential approval of an Ethereum spot ETF into 'another major event.'
Regarding future expectations, the analyst believes that any approval process for a spot Ethereum ETF may take longer and could be affected by litigation events. Rudick now predicts that the most likely timeframe for Ethereum ETF spot approval is between 2025 and 2026.
Ja też jestem uparty. $SOL to jedna z tych, które dodałem na początku mojego #Zerotoherochallenge i była to moja pierwsza nagroda tutaj na Binance. To był prezent w sekcji „Naucz się zarabiać”, który wzrósł znacznie i solidnie. #Solanaecosystem#SOL🔥🔥🔥🔥
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Solana Struggles to Recapture $200, but DApp and Derivatives Markets Remain Bullish
Solana’s native token SOL (SOL) experienced a 12.8% increase from March 24 to March 26, only to face a downward correction to $186 afterward. Despite this, investors remain hopeful, citing the surge in activities such as memecoins and airdrops on the Solana network as key factors that could maintain SOL’s positive trajectory and potentially elevate its price above $200.
SOL price succumbed to Bitcoin’s correction and a stricter regulatory environment
In a broader context, the cryptocurrency market faces potential vulnerabilities, particularly after Bitcoin (BTC) failed to hold above the $71,000 mark on March 26. This failure is seen as an indicator of dwindling investor confidence, especially concerning the outflows from spot Bitcoin exchange-traded funds (ETFs). Should institutional investors further reduce their stakes in listed crypto assets, the outlook for SOL and other alternative coins could darken.
Further pressure on SOL’s valuation could stem from recent legal actions by the U.S. Justice Department, which has brought criminal charges against KuCoin exchange and two of its founders. The U.S. Commodity Futures Trading Commission has accused KuCoin of offering unregulated and unlicensed derivatives contracts to U.S. clientele. Prosecutors maintain that the exchange facilitated transactions involving over $5 billion in “suspicious and criminal proceeds.”
Overlooking the short-term implications of Bitcoin's spot ETF flows and regulatory uncertainties, the price of SOL tends to respond favorably to growth within the Solana ecosystem. The successful performance of Solana SPL tokens, highlighted by the popularity of memecoins, has bolstered the blockchain's attractiveness to new projects, thereby sustaining demand for the SOL token.
A 30-day analysis of the Solana network reveals significant increases in user activity and volume, presenting a challenge to a bearish stance on SOL. Solana has notably narrowed the gap with its direct competitor, the BNB Chain (BNB), according to available data.
Top blockchains ranked by 30-day DApp volumes. Source: DappRadar
This data highlights that Solana's decentralized application (DApp) volumes saw a 334% increase in the 30 days leading up to March 26. In comparison, its competitors, BNB Chain and Arbitrum recorded growth rates of 146% and 82%, respectively. Moreover, the Solana network's active addresses surged by 43% to 2.66 million over the same period, outperforming the growth rates of BNB Chain’s 15% and Arbitrum’s 30%.
Derivatives markets reflect inflows to cryptocurrencies and bullish leverage demand for SOL
Forecasting the flows of spot Bitcoin ETFs and the market's response to a stricter regulatory landscape is impossible, so investors should focus on derivatives trading metrics to gauge market sentiment. Specifically, the behavior of perpetual contracts, often called inverse swaps, offers insights. These contracts include an embedded rate to balance leverage. Notably, a negative rate signals stronger demand from short sellers.
SOL perpetual futures 8-hour funding rate. Source: Coinglass
Recent observations highlight a strong leverage demand for bullish positions on SOL, seemingly undeterred by the token’s inability to surpass the $195 mark on March 26.
To further validate whether the inclination toward leveraged long positions mirrors the broader market sentiment, examining the demand for stablecoins in China can be enlightening. This is because such demand serves as an indicator of retail investors’ movements within or outside the cryptocurrency markets. The premium on USD Coin (USDC) transactions, when compared to the official U.S. dollar rate, is particularly telling.
USC Coin (USDC) peer-to-peer trades vs. USD/CNY. Source: OKX
On March 26, the USDC premium in China maintained a level above 3%, indicating a strong demand for converting the local CNY into the USDC stablecoin. This trend suggests sustained interest in cryptocurrencies within China, thereby supporting the optimistic outlook in SOL’s derivatives markets. Although it remains uncertain when SOL will breach the $200 threshold, the current on-chain and derivatives metrics suggest a healthy market environment.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Polychain Monsters Launches L3 Gaming Chain on Arbitrum Orbit with Altlayer Support
According to Foresight News, multi-chain NFT gaming ecosystem Polychain Monsters has launched an L3 gaming-dedicated chain based on Arbitrum Orbit with the support of Altlayer. The platform utilizes PMON for transactions, and Altlayer provides support from the initial gameplay on the testnet to the mainnet launch.
What Will Happen to ETH’s Price If the SEC Rejects All Spot Ethereum ETF Applications?
After a decade of waiting, rejecting, and delaying at best, the United States Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs at the start of 2024.
Their impact on BTC’s price has been undeniable as the demand for those products among traditional investors has skyrocketed. Now that there are existing exchange-traded funds tracking the performance of at least one cryptocurrency, the community speculates on whether there will be a follow-up, particularly with ETH.
The ETH ETF Applications
Numerous companies within and outside of the cryptocurrency industry want to follow the example with Bitcoin and have products tracking the performance of the second-largest digital asset. Perhaps the two biggest names with current applications with the SEC are BlackRock and Fidelity. However, the regulator keeps delaying making a decision on either of their filings.
Amid the latest SEC delays, industry experts started questioning the agency’s motives and drew comparisons with how the watchdog operated before rejecting countless BTC applications throughout the past ten years. As such, the overall optimism around the ETH ETF applications started to wind down in recent weeks despite previous predictions that the Commission will approve all filings in May 2024.
The most recent analyses on the matter suggest that the SEC plans to reject all spot Ethereum ETF applications that have due dates in May.
Impact on ETH’s Price?
While the community keeps speculating on whether potential Ethereum ETFs will be a flop compared to BTC ETFs, we decided to ask Perplexity – the popular ChatGPT alternative – about what would happen to ETH’s price if the SEC indeed rejects all current proposals. Interestingly, the AI chatbot believes the agency’s decision, no matter what it will be, won’t have such a big impact on ETH, at least in the short term.
“If the SEC rejects all spot Ethereum ETF applications, the impact on ETH’s price may not be as significant as initially anticipated. Analysts and experts suggest that whether the ETFs are approved or rejected, it may not have a substantial effect on the altcoin’s price in the short term.”
This theory could have some merit, given the BTC ETF rejections in the last ten years. Bitcoin became immune to the SEC’s actions after so many rejections. However, the Ethereum case is quite different since the asset doesn’t have such a long history with the regulator.
Additionally, once the Commission greenlighted all Bitcoin ETFs, the underlying asset’s price went on a massive rollercoaster in the next few weeks. Once the demand and inflows increased, so did BTC’s price. The vice-versa effect is also visible, as we have seen in the past week.
The post What Will Happen to ETH’s Price if the SEC Rejects All Spot Ethereum ETF Applications? appeared first on CryptoPotato.
Trwa dosłownie „Pierwsze kroki” pod numerem #Zerotoherochallenge . Mój przypadek, że dołączyłem do jednego z pierwszych #Play2Earn projektów, aby zdobyć trochę pieniędzy do zainwestowania i co o tym myślę, możesz przeczytać w poniższym artykule.
Zachęcamy do pozostawienia polubienia lub komentarza.
Jeśli chcesz dołączyć do projektu, użyj linku, aby otrzymać mały dodatkowy gadżet. 😉 https://sweatco.in/hi/cpt.kosmoshout
My personal experience with SWEAT At first i introduce you to an app that i found as i looked for a Step-Counter. Offline i walk a lot and i would know, how much it is for real. And for sure, knew about those scammy apps which promise that you can redeem a lot of cash with only a few steps. It is clear that this is scam but there are some serious ones too. So i found sweatcoin at first. At that time you could redeem vouchers and more for your sweatcoins BUT shortly after i joined they introduced their Sweat-ecosystem and announced the creation of $SWEAT. #SWEAT is the web3-token of the Sweat-ecosystem and gives an opportunity to join, i thought. ...and i was right even it had not that big value at this time. Meanwhile i got a great Number of SWEAT only by walking and with the last #bullruns it has grown more than i expected. More Info about SWEAT Here you can find all about SWEAT: https://sweateconomy.com/ If you want to join the project and walk for crypto, you could use this Link to get some Bonus Sweat: https://sweatco.in/hi/cpt.kosmoshout
Moje osobiste doświadczenia ze SWEAT Na początek przedstawiam aplikację, którą znalazłem, szukając licznika kroków. Offline dużo chodzę i wiem, ile to kosztuje naprawdę. I na pewno wiedziałem o tych oszukańczych aplikacjach, które obiecują, że możesz wymienić dużo gotówki w zaledwie kilku krokach. Oczywiste jest, że jest to oszustwo, ale zdarzają się też poważne oszustwa. Więc na początku znalazłem Swecoin. W tamtym czasie mogłeś wymieniać kupony i nie tylko na swoje sweatcoiny, ALE wkrótce po moim dołączeniu wprowadzili swój ekosystem Sweat i ogłosili utworzenie $SWEAT.
Jak wspomniałem wczoraj, rozpocząłem wyzwanie „Zero to Hero”. Przede wszystkim muszę złożyć takie czy inne oświadczenie. #Zerotoherochallenge#play2earn
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First Step: Accumulating money to invest
I announced it in my last post already: The first step in my "Zero to Hero" - Challenge is getting some money which i can later invest in crypto. I tested a lot in the last months and finally i get some really interesting ways which i want to share with you. But first of all i have to made a Statement: I only recover my own way and opinion in that challenge and this is no financial advise. There is a lot of scam in the Internet and i take distance from many apps shown in the advertisments in different gaming apps. Also be sure: You will not get rich with #Play2Earn but you can get your first bucks to invest and scale it. Cryptoinvestments are sometimes a bit risky, that is why you should only invest money you don't miss when it is wasted. So let's get started with the first app, which i discovered tomorrow. #Zerotoherochallenge #write2earn
Krok pierwszy: gromadzenie pieniędzy w celu inwestycji
Ogłosiłem to już w moim ostatnim poście: Pierwszym krokiem w moim „Zero to Hero” - Wyzwaniu jest zdobycie pieniędzy, które będę mógł później zainwestować w kryptowaluty. Wiele testowałem w ciągu ostatnich miesięcy i wreszcie otrzymałem kilka naprawdę interesujących sposobów, którymi chcę się z wami podzielić. Ale przede wszystkim muszę złożyć oświadczenie: w tym wyzwaniu odzyskuję jedynie swój własny sposób i opinię i nie jest to porada finansowa. W Internecie jest wiele oszustw i dystansuję się od wielu aplikacji pokazywanych w reklamach w różnych aplikacjach do gier.
Tak więc, jak powiedziałem wcześniej, zacząłem ten projekt całkowicie od zera, aby obalić mit, że powinienem móc zacząć od kryptowalut i zarabiać na początku bez inwestycji z normalnego dochodu.
Saldo konta dosłownie na poziomie zera. Od zera do bohatera 😋
Krok pierwszy: Gromadzenie środków na pierwszą inwestycję.
Rozpoczęcie pracy z numerem #playtoearn nie było na początku takie proste i dużo testowałem. W końcu znalazłem pewne możliwości i dam Ci możliwość wzięcia w nich udziału.
Więc bądźcie czujni, a dzisiaj pokażę wam kilka topów i flopów
Web3 Gaming Startups and Modular Blockchain Eclipse Secure Funding
According to Blockworks, several Web3 gaming startups have announced funding rounds this week. Gaming studio Carbonated raised $11 million in funding, led by South Korean gaming firm Com2uS, alongside the early access playtest of its NFT-enabled mobile shooter game MadWorld. The game is set in a post-apocalyptic world where players battle to control plots of land tokenized as NFTs. Venture capital firm a16z participated in the funding round and had previously invested in Carbonated in 2020.
Developers of the massively multiplayer online game MetaCene announced a $10 million Series A round with participation from The Spartan Group, Animoca Ventures, and others. This follows the $5 million in seed funding MetaCene raised in July 2023. The Singapore-based gaming company features typical Web3 gaming integrations and social guild DAO governance. The game is currently in alpha testing for whitelisted participants.
On the infrastructure side, Blockus raised $4 million in pre-seed funding for a service that helps game developers add blockchain-enabled features. Blockus participated in a16z's crypto startup accelerator, but the VC did not participate in the funding round. In addition, modular layer-2 blockchain Eclipse raised a $50 million Series A, led by Placeholder Ventures and Hack VC. The chain is expected to go to mainnet next quarter. Other notable fundraises include zk proof-focused infrastructure firm Polyhedra raising $20 million at a $1 billion valuation, and data computing for blockchain startup Clique announcing an $8 million Series A.
Play-to-earn Essentials: How to Begin and What You Can Earn
The video games market is thriving. Discover the potential rewards and opportunities in crypto with play-to-earn (P2E) games.
The global video games market is experiencing rapid growth, with projections indicating a substantial increase in revenues to $282.30 billion by 2024.
Regions like China are anticipated to significantly contribute to this surge, with a projected revenue generation of $94.4 billion this year.
Furthermore, the market is expected to sustain this momentum with an annual growth rate of 8.76%, reaching a staggering $363.20 billion by 2027.
In this changing landscape, play-to-earn (P2E) games are gaining attention. These games offer the traditional gaming experience but also give you a chance to earn actual cryptocurrency rewards.
However, the entry point into these games varies depending on the title. For instance, Axie Infinity (AXS), a prominent player in the play-to-earn space, requires players to invest in at least three Axies, priced between $2 to several thousand dollars each.
Axies | Source: Axieinfinity app
Conversely, games like Decentraland (MANA) offer a more accessible starting point. Players can initiate their journey with a MetaMask wallet, although additional investments in virtual assets like the MANA coin may be necessary to access certain features.
When considering your potential earnings, it’s crucial to understand that they can change. This change is affected by factors like the worth of the tokens and the engagement of the players.
For example, community reports suggest an average daily earning potential of around $1 within Axie Infinity.
Additionally, the secondary market for in-game assets, particularly non-fungible tokens (NFTs), presents players with an opportunity for additional revenue streams, as evidenced by Decentraland’s success in NFT sales.
You might also like: New web3 games to watch in 2024
Games leading the P2E race
Let’s analyze top performers in the P2E market based on the last 30 days of data:
motoDEX: Ranked first among P2E games, motoDEX operates on a multi-chain model. Over the last 30 days, it has witnessed an increase of 35.6% in unique active wallets (UAW) and a surge of 512.91% in transaction volume, taking its total transactions to 8.31 million.
Sweat Economy: Sweat Economy operates on both Ethereum and Near chains. The Ethereum (ETH) hosted version experienced a modest uptick of 2.56% in UAW, while the Near-hosted counterpart saw an increase of 4.42% with total transactions of 6.49 million.
Trickshot Blitz: Holding the third spot, Trickshot Blitz runs on the Flow blockchain. However, it faces challenges with a 17.93% decrease in UAW and declining transaction volumes over the past 30 days.
PlayEmber: Ranked fourth, PlayEmber is present on both Ethereum and Near chains. Ethereum-based activity declined by 20.87% in UAW, while Near witnessed a decrease of 35.38% over the last month.
Pixels: Securing the fifth position, Pixels operates on Ethereum and Ronin chains. Ethereum-based activity surged by 137.35% in UAW, while Ronin witnessed a 31.94% increase in user engagement. Additionally, transaction volumes on Ronin skyrocketed by over 3,000%.
How to make money from P2E games in 2024
The P2E market is volatile, with earnings potential fluctuating due to factors like token value, game popularity, and in-game asset demand.
Successful monetization strategies in 2024 will hinge on staying informed about market trends, choosing the right games, and managing assets wisely. Here is what you can do:
Selecting the right games
Decentraland, The Sandbox (SAND), and Axie Infinity are highlighted as prominent examples of P2E games that have yielded high returns for early investors and, by far, are still the most valued games based on market cap.
Meanwhile, as of Mar. 7, motoDEX, Sweat Economy, and Pixels stand out due to their unique active wallets (UAW) growth and transaction volumes as per DappRadar.
Focus on games with high reputation, popularity, UAW and transaction volume as they indicate an engaged community, a key factor for potential earnings.
Don’t put all your resources into a single game. Spread your investments across different blockchains and game genres to mitigate risks associated with token volatility and game popularity changes.
You might also like: What is Sweatcoin: Earning crypto for steps
Earning strategies
Active participation: Engage daily to maximize earnings through gameplay, challenges, and community events. For instance, Sweat Economy rewards users for physical activity, promoting consistent interaction.
Asset flipping: Asset flipping on secondary markets for games like Decentraland and The Sandbox can be lucrative, especially for early investors or those with a keen eye for valuable in-game assets. Timing is crucial; purchase assets when prices are low and sell during peak demand. Analyzing historical price data and community sentiment can inform buying/selling decisions.
Staking and investment: Some P2E games offer staking mechanisms where you can earn dividends or interest on your in-game assets or tokens. This can provide a passive income stream alongside active gameplay earnings.
Guild membership: Joining a guild can provide access to premium game assets without upfront investment, sharing profits from collective earnings. It’s also a great way to learn strategies from experienced players.
Calculations and profitability analysis
Return on investment (ROI): Calculate initial costs (buying game assets, transaction fees) against daily/weekly earnings to understand the break-even point. For example, if your initial investment is $100 and you earn $5 daily, your break-even point is 20 days.
Market analysis: Keep an eye on token and asset prices within each game. Use tools like DappRadar and NonFungible.com to analyze market trends and identify profitable assets.
Community engagement: Active community participation can offer insights into upcoming updates, market trends, and hidden opportunities for earning. Reddit, Discord, and Twitter are essential platforms for P2E game communities.
Current state of P2E market
In 2023, the blockchain gaming sector witnessed significant shifts and challenges alongside notable successes.
According to data provided by the Big Blockchain Game List, 2023 saw over 30% of announced blockchain-based games being canceled or discontinued.
Source: Big Blockchain Game List
This trend was particularly evident across platforms such as Binance Chain (BNB), Polygon (MATIC), and Ethereum, highlighting a high level of project attrition within the industry.
According to DappRadar’s latest report, blockchain gaming attracted significant capital in 2023, with investments totaling $2.9 billion across 163 deals in web3 gaming and metaverse projects.
This marked a notable 62% drop in funding and a 19% decrease in the number of deals compared to 2022, when blockchain games received $7.6 billion in funding.
The market composition remained largely dominated by indie or mid-size projects, with only a small fraction (6%) securing higher AA and AAA funding levels. Nevertheless, Asia emerged as a prominent hub for new game development, with half of all new games originating from the region.
Meanwhile, blockchain games accounted for the highest share (34%) of dapp activities in 2023, attracting a daily active user base of 1.1 million.
WAX emerged as a standout gaming blockchain in 2023 and drew in over 3 million new wallets and processed 4.7 billion gaming transactions, cementing its position as a key player in the blockchain gaming space.
Additionally, in-game NFT markets witnessed significant activity throughout the year. Notable platforms like Gods Unchained and Ethereum led the pack in trading volumes, with Gods Unchained achieving a remarkable $209 million in trading volume and Ethereum maintaining its dominance with $347 million in in-game NFT trades.
You might also like: Global NFT market sees a 22% dip in sales, yet Trump NFTs continue to soar
Conclusion
Prioritize games with established popularity and engaged communities, as they often offer more stable earnings potential.
Additionally, stay informed about market trends and monitor token and asset prices regularly. Remember to approach P2E gaming as a long-term investment, exercising caution and diligence in your decisions.
You might also like: 9 ways to earn free crypto in 2024
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.