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Terra Luna Classic Votes On Key Proposal, LUNC Rebound Happening? proposal to create an independent community website. The website would be modeled along Bitcoin.org, integrating design processes and concept workshops. Recently, the network has garnered positive news as the users intend to rebound after previous lows. Terra Luna Classic Votes on Website A new vote proposal is underway within the community to create a website that will be community, educational, decentralized, and able to compete with other websites from blockchains. “This proposal aims to create an independent and dedicated Terra Classic website inspired by the Bitcoin.org model, using professional and proven design processes that start with concept workshops, Key visual design, building an MVP (minimum viable product) type of website, and ending with the design of the final website.” At press time, 14.22% of the community voted in favor of the proposal while 28% voted in negative. 46% of the community are yet to vote. However, there are still five days remaining on the countdown as users access the benefits of this proposal in the wider ecosystem. According to the release, the proposals were borne out of a lack of a comprehensive website since the Terra 2022 implosion leading to a loss of metrics. The community is without a website that offers comprehensive information on Terra Luna Classic and encourages developers to build on the network with links from third parties like CoinGecko and CoinMarketCap. The lack of these has led to the loss of trading to Terra Luna Classic Platform See Positives In recent weeks, Terra Luna Classic has recorded positive news ranging from price upticks and a recent burn with huge support. Crypto exchange Binance is supporting the community by burning 62 billion LUNC tokens creating a frenzy as users eye a rebirth of USTC. LUNC staking ratio has also neared its all-time high of above 15%. At press time, USTC has soared 21.7% in the last 24 hours to trade at $0.02002 . #Write2Earn!

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Binance Chief: Court Orders Arrest Of Kuje Prison Doctor Tigran Gambaryan was whisked into the Court building in a wheelchair earlier in the day. Justice Emeka Nwite of the Federal High Court, Abuja, has issued a bench warrant for the arrest of Dr Abraham Ehizojie, the Medical Doctor at the health facility of the Kuje Correctional Centre, over alleged refusal to produce the medical report of the detained executive of Binance Holdings Ltd, Tigran Gambaryan. Justice Nwite gave the order following an application by Gambaryan’s lawyer, Mark Mordi, on Tuesday. Gambaryan was whisked into the court building in a wheelchair earlier in the day. He, alongside the cryptocurrency firm, is facing a money laundering charge preferred against them by the Economic and Financial Crimes Commission (EFCC). Justice Nwite had, on July 5, ordered the management of the Nigerian Correctional Service (NCoS) to release the medical certificate of Gambaryan on or before July 16. The judge gave the order following an application by Mordi. Mordi had prayed the court to summon Ehizojie to explain why he had allegedly refused to make available his client’s medical report despite an earlier court order. Gambaryan had, on May 23, collapsed in the open court over alleged ill health. At the resumed hearing on Tuesday, Mordi said in open court that the judge’s order had not been complied with. The judge then asked a prison official who brought Gambaryan to court about the development. The prison official said he got the court order and delivered the order to the doctor on July 9, 2024. The EFCC counsel, Ekene Iheanacho, told the judge that he thought that the medical officer would be in court today. #Write2Earn!

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What will the price of Hamster Kombat tokens be at launch? With Hamster Kombat preparing for its token launch at the end of July, the big question is: what will the token’s price be at launch? Given its 250 million user base, the potential impact on the token’s value is significant. Despite the hype surrounding Hamster Kombat, critical details about its tokenomics remain undisclosed. Bybit already listed HMSTR in its pre-market phase and has speculated a total supply of 10 billion tokens for initial valuation purposes. However, this number is still uncertain and could change depending on when the project officially reveals more information. Some may think that HMSTR tokens will correspond directly to the user’s coin balance, but in reality, the system will take into account the player’s activity and hourly revenue to incentivize gameplay. Hence, the next step involves a detailed analysis of Hamster Kombat to project its supply and approximate token price at launch. Hamster Kombat features a tiered ranking system. These include Bronze, Silver, Gold, Platinum, Diamond, Epic, Legendary, Master, Grandmaster, and Lord. Additionally, there is an eleventh rank designated for the creators of the game called Creator. In our assessment, the distribution of Hamster Kombat’s user base is structured as follows: Rank Percentage of User Base Bronze 50% Silver 25% Gold 12.5% Platinum 6.25% Diamond 3.13% Epic 1.56% Legendary 0.78% Master 0.39% Grandmaster 0.2% Lord 0.1% We assumed that the distribution of users across the ranks is such that higher ranks have fewer users. We then examined the revenue data for the top 100 users in each rank. For instance, in the Bronze rank, the top user earns 33,612 coins per hour, while the 100th user earns 8,189 coins per hour. Using this data, we calculated the average revenue of the top 100 users in each rank. This gave us an idea of the earnings at the higher end of each rank. To estimate the average revenue for all users within each rank, we assumed that users beyond the top 100 earn progressively less.#Write2Earn!

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Crypto market turns green, downside risk remains high The crypto industry has shown signs of turbulence given the sales of Bitcoin in Germany and the worries surrounding significant liquidations by the creditors of the defunct exchange Mt. Gox. However, beyond these supply overhangs lies a promising future driven by sustained risk-taking in well-established markets and advantageous macroeconomic circumstances. Investors tend to be more willing to deploy cash to riskier, growth-sensitive assets such as Bitcoin and equities during periods of global economic expansion. Increased appetite for risk U.S.-based spot Bitcoin exchange-traded funds (ETFs) experienced their biggest day of net inflows in more than a month due to a collapsing cryptocurrency market. The 11 funds generated $295 million in revenue on July 8. For the first time in the previous three trading weeks, net inflows for all funds have been positive on this day. $187.2 million was the largest daily inflow into BlackRock’s iShares Bitcoin Trust ETF. Fidelity’s Wise Origin Bitcoin Fund, which had gains of $61.5 million, came in second. Meanwhile, the Grayscale Bitcoin Trust recorded $25.1 million in inflows on a rare day of favorable market activity. Since June 5, when the ETFs received more than $488 million in fresh capital, today is the largest day of inflows. Over 26,200 BTC have been sent by the German government to exchanges and market makers thus far. Data from Arkham Intelligence indicates that, as of the time of writing, it still has 27,460 BTC, or $1.6 billion, in reserve. Bitcoin dropped almost 17% to $57,200 within a month, setting off a chain reaction in meme coins, digital assets purportedly connected to artificial intelligence (AI), and other volatile areas of the cryptocurrency market. Currently, the German government owns $1.57 billion worth of Bitcoin. Meanwhile, as the defunct Japanese cryptocurrency exchange Mt. Gox starts compensating creditors who lost their money in a 2014 breach, concerns are growing that $8.5 billion in Bitcoin may enter the market in the upcoming months.

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ICYMI: Again, Tapswap postpones token allocation A popular tap-2-earn app, Tapswap, powered by TON Blockchain, has said the token allocation to users has been postponed to quarter three of the year. The app, which required users to repeatedly tap the icon in the centre of the Telegram Tapswap bot screen to mine coins, recently gained momentum among Nigerians tapping on their phone screens in pursuit of financial earnings and has amassed over 50 million users since it launched on February 15, 2024. The management said it decided to move the share-to-token exchange event scheduled for July 1st to the third quarter to better serve its players. In a series of threads created on X, on Monday, to share what it described as ‘bad and good news’ for its players, the management said it is in active talks with tier 1 exchanges around the world to price the highly ranked game from the prey of scammers and leaders in web3 industry who are moved by the successes the game had attracted. “We’ve got some bad and really good news for you at the same time: our team has decided to move the date for the Shares-to-Token exchange event. You might wonder, what’s good about that? Just FUD? “Not exactly. The whole point is that you’ll benefit from this. Let us explain how: Recently, there’s been a lot of buzz around Tapswap, especially about listing on tier 1 exchanges, a massive drop, and more. And it’s no surprise: the project has become one of the major players globally, ranking at the top. This kind of attention attracts not just scammers but also leaders in the web3 industry. “So, not all rumours are just rumours. The Tapswap team is actually in active talks with tier-1 exchanges! And they are thrilled with you – our community! Isn’t this what we’ve been tirelessly working towards together?” The management further reiterated its effort to devote a high level of attention to the task, which requires much more detailed work on tokenomics and the right launch strategy. #Write2Earn!

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