BlackRock's Bitcoin ETF Sees Sixth Ever Outflow on US Election Day as Bitcoin Hits New High
According to Cointelegraph: On U.S. election day, BlackRock's iShares Bitcoin Trust (IBIT) experienced a rare net outflow of $44.2 million, its sixth since the ETF launched in January. This outflow reflects a cautious stance from institutional investors amid election uncertainties, as IBIT joined other major U.S. Bitcoin ETFs in recording withdrawals. In total, the 11 U.S. spot Bitcoin ETFs saw outflows of $116.8 million on November 5, with the largest withdrawals coming from Fidelity’s Wise Origin Bitcoin Fund, which lost $68.2 million.Bitcoin ETF Outflows Despite Bullish Market SurgeDespite the outflows, spot crypto markets surged as election results came in, pushing Bitcoin to a new all-time high of $75,000. Henrik Andersson, chief investment officer of Apollo Crypto, attributed Bitcoin’s price surge to strong election-driven demand. Citing an 80-90% probability of Trump’s victory, Andersson forecasted that Bitcoin could reach $100,000 by year-end if Trump indeed wins.Election’s Potential Impact on ETF and Crypto RegulationWhile ETF Store President Nate Geraci noted that election-driven market effects are often overstated, he emphasized that the regulatory landscape, particularly SEC leadership, will influence the pace of crypto ETF innovation. Geraci highlighted the importance of bipartisan efforts in developing a comprehensive crypto framework, stressing that the election outcome could accelerate or delay ETF regulatory progress.Bitcoin’s Election-Driven Trajectory and Future Price PredictionsBitcoin has been dubbed the "election trade" by traders, with its recent rally reflecting sentiment around the U.S. election. Analysts remain optimistic, with many predicting continued gains as political and regulatory developments unfold. As Bitcoin hovers near record highs, the crypto market is closely watching for potential shifts that could drive BTC toward the anticipated $100,000 mark in the coming months.
Why Yield Guild Games Could Lead the Play-to-Earn Revolution
Yield Guild Games (YGG) has emerged as one of the most influential projects in the rapidly growing play-to-earn (P2E) space. As blockchain gaming continues to gain traction, YGG is positioning itself as a leader in this revolutionary movement. With its unique approach to gaming, community development, and asset management, the project is poised to become a key player in the evolution of the gaming industry. Here's why YGG could potentially lead the play-to-earn revolution in the coming years. What Is Yield Guild Games? At its core, Yield Guild Games is a decentralized autonomous organization (DAO) focused on investing in non-fungible tokens (NFTs) used in virtual worlds and blockchain-based games. The platform primarily invests in play-to-earn assets that generate income for its members. By building a large portfolio of in-game NFTs and virtual assets, YGG allows its community members to earn rewards by using these assets in popular games such as Axie Infinity and The Sandbox. The concept behind YGG is simple but powerful: it leverages the collective strength of its community to maximize returns on gaming assets. Members of YGG can either participate directly in games or rent out in-game NFTs to others, known as "scholars." This model opens up opportunities for users who may not have the funds to invest in high-value NFTs but still want to earn through gaming. Strong Market Position in Play-to-Earn YGG is well-positioned to dominate the play-to-earn market because of its ability to scale its operations. By continuously acquiring in-game assets and offering them to a large and growing base of players, the DAO can increase its revenue and expand its influence in the gaming industry. YGG’s model creates an ecosystem where the community drives growth and success, offering a sustainable framework for the future. Moreover, the project’s diversified portfolio of gaming assets across various games gives it a competitive advantage. By not relying on just one game or platform, YGG can mitigate risks and capitalize on emerging opportunities within the broader gaming and NFT space. Expanding Partnerships and Ecosystem Partnerships play a crucial role in YGG’s growth strategy. The organization has already established alliances with several leading blockchain games and gaming platforms, including Star Atlas, Illuvium, and Ember Sword. These partnerships allow YGG to expand its reach, acquire more valuable assets, and offer new gaming opportunities to its members. Additionally, YGG has been involved in the launch of subDAOs, which focus on specific regions or games, such as the Southeast Asia (SEA) subDAO and the Axie Infinity subDAO. These subDAOs enable localized growth and cater to different markets, further driving the project’s expansion. Long-Term Vision and Growth Potential YGG’s vision extends beyond gaming. The DAO aims to create a sustainable virtual economy where participants can earn a living from gaming. As blockchain technology becomes more widespread and gaming continues to shift towards decentralized models, the potential for YGG’s ecosystem to grow is enormous. With a strong community-driven approach, YGG is not just an investment opportunity but also a movement that aligns with the broader goals of the decentralized web (Web3). The project's governance token, YGG, allows token holders to participate in decision-making processes and influence the future direction of the DAO. This decentralized governance model fosters transparency and aligns the interests of the community with the long-term success of the project. Why YGG Could Surge in the Near Future The play-to-earn model is still in its early stages, but it’s clear that gaming is moving towards more player-centric, decentralized ecosystems. YGG’s ability to tap into this trend gives it a strong position to lead the next phase of growth in blockchain gaming. Several factors suggest that YGG could experience significant growth in the near future: - Increased adoption of play-to-earn games: As more gamers and developers embrace blockchain technology, the demand for play-to-earn platforms like YGG will grow. - Expansion into new games and virtual worlds: YGG’s continuous investment in a diverse range of games and assets positions it well to benefit from future gaming trends. - Community growth: YGG’s model thrives on its community, and as its user base expands, so too will its influence in the gaming and NFT space. The combination of these factors positions YGG as a key player in the play-to-earn revolution, with the potential for its token value to appreciate as the platform grows. 💬 What are your thoughts on Yield Guild Games? Share your insights and strategies below! 🔔 Make sure to follow for more updates on crypto and gaming! #YieldGuildGames #YGG #PlayToEarn #NFTs #BlockchainGaming
We are pleased to share that #Flux has been selected as one of the Top 100 blockchain projects in the world, according to #WorldFutureAwards. This recognition highlights #Flux’s remarkable contributions and innovations in the ever-evolving world of #cryptocurrency and #blockchain technology.
As a leader in #Web3 and #Depin our dedication to advancing these transformative technologies has set new benchmarks and inspired others in the industry.
The World Future Awards is dedicated to recognizing excellence and innovation across various sectors, and there Top 100 Crypto and Blockchain Companies list is a testament to the pioneering work being done in this dynamic space. Being mentioned in the same group as @Tether_to @PayPal @RobinhoodApp @chainalysis is a true honor!
Please check out the full writeup here: https://t.co/i7Ppl6AIyO.
We are thrilled to introduce another angel investor joining our round! 🤝 Stani Kulechov (@StaniKulechov) is the founder of Aave and Avara. @Aave is an open source and non-custodial protocol that allows users to earn interest on deposits and borrow assets. The platform boasts over $11B in TVL 🔥
Sony Bank Tested The Stablecoin Launch On The Polygon (Matic) Blockchain
The financial arm of Sony Group successfully experimented on the Polygon crypto network for experimental Yen-pegged stablecoin. Sony Bank is the financial arm of Sony Group, a leading Japan-based gaming and entertainment conglomerate. In 2001, Sony Bank was established. This bank offers online banking services in Japan, focusing on savings accounts, investment trusts, and loans. It leverages the brand’s reputation for innovation and user experience to provide convenient and seamless online banking services & solutions to its customers. On 5 April 2024, Reports confirmed that Sony Bank successfully tested the launch of a Japanese Yen-pegged stablecoin on the Ethereum layer-2 scaling network Polygon (Matic). With this stablecoin launch experiment, Sony Bank aimed to launch a new stablecoin on a new public blockchain in the market. That stablecoin will be available to use in the digital payment for businesses that use intellectual property owned by the Sony Group. Sony Bank focussed on increasing the ease of digital payment with the use of this new stablecoin and also to reduce transaction fees for individuals and streamline payment processes. To achieve this goal, Sony Bank collaborated with Startale Labs, a leading developer of Astar Network. Under the partnership with Startale Labs, Sony Bank will launch a new public blockchain network and also will get Web3 expertise for its digital payment product. TerraUSD downfall & Stablecoin adoption In Japan As we know, the Terra crypto empire collapsed badly in May 2022, in which the top stablecoin TerraUSD (UST) & Luna coin collapsed. Following the downfall of TerraUSD stablecoin, the Japanese financial regulatory bodies established a new rule for the local stablecoin issuers, in June 2023. Under Japanese rules, local stablecoin issuers should make sure that stablecoin is always pegged by Yen or other currency and also the stablecoin users can redeem them at face value at any time. Stablecoin-dedicated rules in Japan acted as a catalyst to push the fintech companies to show Inclination toward stablecoin-related business ideas.