From predicting that Bitcoin will likely not exceed $ 100,000 by the end of the year, to the daily dwindling income of Axie Infinity players. Here are some highlights from the crypto market.
Analyst, Nicholas Merten, called that while Bitcoin itself is optimistic, predictions that BTC will exceed $ 100,000 this year are unlikely to materialize.
BTC’s relative reaction to the launch of a Bitcoin futures-based ETF could be a sign that the market needs even more stimulus to move the king’s price, Merten said. As such, BTC is unlikely to hit $ 100,000 or $ 150,000 in the fourth quarter of this year or the first quarter of next year.
Merten believes Bitcoin will eventually end its bull cycle at $ 200,000, but that will happen by the end of 2022.
“If we were to talk about the prospect of hitting $ 3 or 4 trillion in market cap, with BTC price hitting the $ 150,000 to $ 200,000 region, it would take a lot of liquidity. This means that the market will still need some time to achieve this goal. And that’s why we expect the cycle peak in November 2022. “
892,000 tokens were burned on the Ethereum network, more than 10% of which came from the OpenSea NFT marketplace.
In total, OpenSea burned more than 100,854 ETH, which corresponds to a coin value of around 400 million US dollars.
Top platforms for participating in the burning ETH | Source: Ultrasound Money
Uniswap, Tether Stablecoin and MetaMask are also the projects involved in burning most of the ETH tokens.
The current Ethereum emission is still 5.4 million Ethereum per year, almost 50% less than the previous one. The burn rate is currently 3.2 million ETH per year. Blockchain experts expect Ethereum to become a deflationary asset class by the end of 2022.
Wu Blockchain said Huobi announced in its October monthly report that the exchange had burned 3.36 million HT ($ 28,351 million), 27.08% less than in September.
Huobi’s sales for October are approximately $ 141 million, according to Wu. The exchange has closed futures trading for Chinese users and will gradually discontinue fiat, spot and deposit trading pairs in December, so Huobi’s revenues are likely to decline in the short term.
Huobi in its October monthly report that Huobi burned 3.36 million HT (approximately $ 28.351 million), a 27.08% decrease from September, suggesting that Huobi posted sales of grossed approximately $ 141 million. https://t.co/cs9fqlQflw
– Wu blockchain (@WuBlockchain) November 15, 2021
The Ethereum-based game Axie Infinity is one of the most popular video games in the blockchain world.
The game is being developed by a studio called Sky Mavis and has posted $ 3.23 billion in sales through NFT as of this week.
According to a statement by researcher Lars Doucet from the Naavik company, although the blockchain game project grew exponentially in the first half of the year, the daily income of the players is falling.
The Naavik researchers say the game’s growth rate may slow down.
Naavik stated that most of the Axie Infinity players come from low income areas and that “the main motivation is to make money”. The study highlights that because of this trend, users are participating in games for work, not fun.
Axie Infinity Report: 55% of users are from the Philippines, but with the exception of high-level players, most scholars’ income can be below the minimum wage in the Philippines. https://t.co/w0yFbru3vh
– Wu blockchain (@WuBlockchain) November 15, 2021
TaleCraft (CRAFT) has announced its upcoming IDO on Avalaunch (XAVA) and Roco Finance (ROCO).
The CRAFT IDO registration on Avalaunch will open on November 17th at 10:00 PM and the IDO will start on November 22nd at 1:00 PM (UTC).
At least 90% of the proceeds go to the creators of the XAVA community. Details on Roco Finance CRAFT IDO will be announced shortly. The total IDO hardcap is $ 1,050,000. The IDO price is $ 0.28 and the initial market cap is $ 487,060.
????♂️In a world where craftsmen rule the day, the next Avalaunch IDO is coming, @Talecraftio!
Gain power through gamified NFT alchemy in this medieval metaverse where luck, not luck, rules.
????Registration: 11/17
????Sale: 11/22
Size: $ 900,000???? https://t.co/28Yq1gmFD5 pic.twitter.com/YaK7f04Pwn
– Avalaunch (@AvalaunchApp) November 15, 2021
To improve interaction and meet user demand for easy storage of crypto assets, Cardano (ADA) partnered with EMURGO to bring Yoroi Wallet, the platform’s strategic wallet product, to market.
Yoroi Wallet is the official crypto wallet developed by EMURGO to allow users to take full advantage of the ADA space. As one of the founding organizations of the Cardano blockchain, EMURGO can use the Yoroi wallet in coordination with the partners of the Cardano ecosystem, including ADA staking, connection of Cardano-based dApps, NFT, …
New to Yoroi? Our #Cardano Wallet works on any smartphone or hardware that supports Google Chrome and extensions.
Access yours at home, in the office, or on the go $ ADA from anywhere in the world.
Download yours from https://t.co/NDYElhF3Mh pic.twitter.com/wrzg6ghpoV
– Yoroi wallet (@YoroiWallet) November 5, 2021
Hic et nunc, the popular NFT marketplace on the Tezos network, has closed its business and has not explained why.
Hic et nunc is one of the 20 top-selling NFT markets. At the time of closing, dappradar.com numbers showed it was the 14th NFT market by revenue.
At the moment Hic et nunc UI is not working with the server, no error can be found. However, other affiliate links like hen101.xyz will still work. The market’s official Twitter account, “hicetnunc2000”, is also still active and has shared two announcements of closure without much explanation.
Has anyone here deciphered wtf happened? https://t.co/1xOhZOjV2r
– 2kew (@ 2kew4u) November 12, 2021
Animoca Brands Reveals Plans for K-Pop NFT Metaverse
NFT continues to penetrate the mainstream entertainment industry, with game company NFT Animoca Brands partnering with South Korean record and music production label Cube Entertainment to build a “universe of sound” K-pop music.
[????] Animoca brands and #DICE Entertainment establishes joint venture for K-Pop Music Metaverse and NFTshttps://t.co/hB1gubVXVd
– DICE ENTERTAINMENT (@cubeunited) November 15, 2021
The partnership, announced on November 15, provides for a collaboration between Animoca and Cube to develop multimedia NFTs that honor Cube’s famous K-pop actors and musicians. NFTs will contain images such as artist portraits and album art, and will contain digital audio sources such as the official album.
The partnership will bring “real digital property rights and other blockchain benefits,” said Animoca to both Cube artists and their fans.
Demole (DMLG) has announced the launch of its Metaverse.
According to the announcement, Demole will launch its own metaverse. Details will be announced shortly.
Demole aims to be the first 3D RPG game in the NFT ecosystem, with a diverse PvP and PvE system where users can play and monetize these features.
????HOT NEWS: DEMOLE IN THE METAVERSE
☄️ We are happy to announce that we will be changing the logo to welcome our Metaverse event.
☄️ How do you forecast the future of Demole and DMLG?
Tell us! ????#Demolition #DMLG # P2E #NFT #Metaverse #BSC #BNB pic.twitter.com/GWEBngdFax
– Demole.io (@demoleio) November 13, 2021
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