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Everywhere good on Cryptocurrency

Captain09021 · 2024-07-05T05:25:20.000Z

Everywhere good on Cryptocurrency

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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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‘Hamster Kombat’ Clicker Game Faces Criticism for Social Pressure Tactics Hamster Kombat, the popular Telegram-based clicker game associated with an upcoming crypto token launch, has faced scrutiny due to its excessive use of social pressure tactics. While the game’s viral success has propelled it to unimaginable heights, the mechanics that drive user engagement seem to have reached a saturation point, at least for me, Andrew Hayward, the Culture Editor and Hub Operations Lead at Decrypt, wrote in a recent post. He claimed that this may also become an issue for the hundreds of millions of players who participate daily, unless they have a constant stream of friends to recruit. Hamster Encourages Users to Invite Friends Following in the footsteps of the original viral Telegram crypto game, Notcoin, Hamster Kombat requires players to tap the screen to accumulate in-game coins. It introduces a unique twist by allowing players to invest these coins into a fictional hamster-operated crypto exchange, while also encouraging them to invite their friends to join the game. This is where things take a peculiar turn, resembling something akin to multi-level marketing. Hamster Kombat frequently introduces new exchange upgrade cards that promise higher earnings. These cards are often tied to the game’s “daily combo,” which rewards players with a substantial 5 million in-game coins for using specific cards. However, many of these cards can only be unlocked if players manage to persuade another friend to start playing through their referral link. While it is a simple “number-go-up” game, players who are unable to increase their numbers due to the requirement of recruiting more people may find themselves at a disadvantage unless they can find additional participants. Hayward said the shift highlights the limitations of an engagement-driven machine like Hamster Kombat. It demonstrates the challenges of sustaining continuous growth without offering compelling new incentives and benefits. #Write2Earn!

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U.S. lawmakers visit imprisoned Binance executive in Nigeria U.S. legislators Chrissy Houlahan and French Hill recently called for the release of Tigran Gambaryan after visiting him in a Nigerian prison. The Binance executive is currently facing serious money laundering charges, which are alleged to be related to his association with Binance, a global cryptocurrency exchange. Hill said Gambaryan is suffering from malaria and double pneumonia, saying that he has lost weight and is being denied access to adequate medical attention. “Tigran must be immediately granted a humanitarian release, the remaining charges dropped, and he must return home to America where he belongs,” Hill said. Hill, a Republican representative from Arkansas, and Houlahan, a Democrat representative from Pennsylvania, were visiting the country to discuss anti-terrorism efforts. Hill expressed his desire for the U.S. embassy to support the release of Gambaryan due to his prison conditions and his health. Nigeria dropped the tax charges against the two Binance executives last week, but Gambaryan still remains in custody. Letter to President Biden On June 4, politicians in the United States urged President Joe Biden to initiate efforts to bring back the detained Binance executive. The letter, mostly signed by congress members, was addressed to the President, Secretary Antony Blinken, and the Presidential Envoy for Hostage Affairs, Roger D. Carstens. In the letter, the politicians raised concerns about Gambaryan being “wrongfully detained” by the Nigerian government. “We fear for his life. Immediate action is essential to ensure his safety and preservice his life. We must act swiftly before it is too late,” the lawmakers wrote. Background Binance executives Tigran Gambaryan and Nadeem Anjarwall were arrested in February and charged with criminal violations by the Nigerian government. Gambaryan is awaiting trial, while Anjarwall escaped custody and was extradited from Kenya to Nigeria. #Write2Earn!

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The Next Notcoin? 5 Tap-to-Earn Games Poised for Massive Gains The advancements in blockchain technology have ensured that the Tap-to-earn games are not only secure but also scalable, providing a seamless user experience. The recent success of Notcoin, gives a lucrative glimpse of the potential of this emerging crypto sector. The incorporation of decentralized finance (DeFi) elements into T2E games offers players new ways to earn, such as staking and yield farming, further increasing their earning potential. The Tap-to-Earn (T2E) niche that began with Notcoin has burgeoned into a mammoth industry. Despite the rapidly growing reputation of T2E games, many have yet to launch their tokens. The rapid growth of the crypto ecosystem means that utility projects such as blockchains, DeFi protocols, and DEXs are taking advantage of the T2E movement to amass huge user bases even before they launch. Here are five top Tap-to-Earn games that have 100X potential. 1. Tap-to-Earn Games – Hamster Kombat Hamster Kombat launched on March 5, 2024, but it was not until the last week of March that the game became popular. By March 28, the game had 30,000 players, and the following day that number jumped to 100,000, and doubled that by March 31. From there the game blew up, reaching over 150 million active players in just three months. The massive success of Hamster Kombat is also reflected in their social media accounts, with X hitting 9.1 million followers and YouTube more than 25 million subscribers. Hamster Kombat’s tokens HMSTR have already started trading pre-market on Gate.io and Kucoin, Bitget at an average price of $0.18. Hamster Kombat players get rewarded with HMSTR coins by managing a virtual crypto exchange. Game officials have announced that the token will be listed by the end of June and will be launched on the TON network. 2. Tapswap Tapswap is another Tap-to-Earn game that is going to launch on the TON blockchain. The game has been the victim of suspicion amongst players since the team introduced a feature to double your amount of coins by paying a small fee

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