Značka: Market Analysis

Altcoin Roundup: 3 emerging P2E gaming trends to keep an eye on in 2022

Blockchain-based play-to-earn (P2E) gaming had a breakout year in 2021, and as the cryptocurrency ecosystem evolves in 2022, the P2E gaming sector and those that invest in it will need to consider what the next steps are. During bull markets, vaporware, speculation and euphoria can lead to unrealistic valuations and expectations, and this appears to also have impacted the P2E sector.Now that the hype is “over,” investors and developers will need to identify new value propositions that catalyze growth and steady investment into the blockchain gaming sector.Here’s a closer look at some of the trends that could emerge in the P2E ecosystem in 2022. Profit-sharing communitiesThe first trend to keep an eye on in 2022 is projects that are looking to harness interest in nonfungible tokens to create profit-sharing models and capitalize on the price appreciation of NFTs. These projects aim to offer opportunities for gamers and investors by providing a platform where investors who are not interested in playing games can invest and provide NFTs for players who would not otherwise be able to afford them.From there, players earn rewards for their gameplay, while investors earn a share of the profits. One example of this type of protocol is Yield Guild Games (YGG), a P2E gaming guild and decentralized autonomous organization focused on creating a community that lets players earn via blockchain-based economies. The DAO generates revenue through the sale of NFT assets or by renting them out to gamers as part of a profit-sharing model known as a scholarship. There are currently more players wanting #playtoearn scholarships than there are game assets to meet the demandTogether with our newest Sponsor-A-Scholar partner @coinbase, YGG will be able to onboard more new players worldwide pic.twitter.com/WXI8yniqt7— Yield Guild Games (@YieldGuild) January 11, 2022Some of the current games and investments that YGG is involved with include Axie Infinity, Illuvium, Guild of Guardians, Star Atlas, Splinterlands and The Sandbox. The most recent investment for the YGG community was a $50,000 investment in the seed round of Heroes of Mavia and a $330,000 purchase of NFT land assets in the game. Communities with educational supportAnother trend emerging out of the gaming and NFT sectors are communities that focus on educating community members on how to earn money through gameplay. Blockchain-based gaming can be a challenge for newcomers to learn, and some games have upfront costs that prevent some players from being able to play. To help simplify the process, a few protocols that invest in providing apprenticeships for players have come into existence. Merit Circle is a DAO project focused on developing its P2E economy by helping gamers transform their hobby into a steady stream of income. The Merit Circle DAO is maximizing value and accrue it to all the participants. The main activities can be separated into ⬇️ (pre)seed investments into ‘GameFi’Scholarship programTreasury management Developing products in-house All adding value to $MC pic.twitter.com/0bHAhbniKH— Merit Circle (@MeritCircle_IO) January 11, 2022

At the time of writing, the Merit Circle community has 2,750 active gamers from regions all around the world — including Asia, Africa, Europe and South America — who earn rewards daily by playing one of the supported games. Similar to YGG, Merit Circle also invests in community-held assets that can be used by gamers to earn rewards, with 30% of all proceeds being reinvested in the DAO or distributed to tokenholders. The project uses educational content and one-on-one coaching sessions to help improve the performance of scholars on the platform. These players have earned more than $2 million through gameplay to date. Related: New research expects a gloomy year for Bitcoin as DeFi and DAOs riseDeFi combines with NFTs and P2E gamingA third trend forming in 2022 is the development of projects and investment funds that aim to combine aspects of decentralized finance (DeFi), NFTs and P2E gaming.While the gaming sector only appeals to a niche crowd, NFTs have a wide range of capabilities that can be applied to many fields ranging from art to real estate by providing immutable proof of ownership. As blockchain technology continues on its path to mass adoption, an increasing number of real-world items will be digitally recorded on distributed ledgers, ultimately providing interested parties with an easier route to investment than exists at present. It also allows for the possibility of fractionally owning certain high-price items such as a hotel or the copyright to a popular movie or music album..@Nas May Be Offering Fractional Ownership Of His Music — But For Him, ‘This Isn’t Really For The Money’ https://t.co/34A2yhX6MP pic.twitter.com/yWWAqOlwLd— AfroTech (@AfroTech) January 11, 2022

BlackPool is one such project that is currently run by a team of portfolio managers, traders and analysts with the long-term goal of becoming “a leading provider of financial derivatives in digital asset marketplaces, including asset valuation indexes, insurance mechanisms and actively managed strategies.” Ultimately, the project is looking to provide democratized access to scarce NFT assets “that users might individually not be able to buy themselves.”Through the development of its DAO structure, BlackPool is now in the process of decentralizing its current operation to allow all of the NFT assets held by the fund to be managed by its community of token holders. Want more information about trading and investing in crypto markets?The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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OpenDAO (SOS), LooksRare (LOOKS) and WTF token: 3 airdrops, with 1 scam

NFTs continue to surge with what looks to be no end in sight. Since January 14, 2022 OpenSea notched trading volumes over $1.03 billion, and its latest rival, LooksRare, has eclipsed the platform according to data from DappRadar. Top 8 NFT marketplaces by volume. Source: DappRadar What’s clear is that NFT collectors and traders appear to be shifting their sentiment on where they are seeing value. Since the start of 2022 there’s been an emphasis on “community” with a buzz and advocacy of rewarding users for their participation. OpenSea has already generated more than $3.2 billion in total volume despite many NFT traders feeling that the marketplace betrayed the notions of Web3. These investors are voting with their feet and planning to boycott the marketplace by turning their attention to others who are more “Web3 friendly.”Community-driven NFT marketplace, LooksRare and other platforms have successfully completed a vampire attack, leaving disgruntled OpenSea users migrating away from it for not valuing and rewarding user participation.Participants seem to be adamant on advocating for the value they create within the ecosystem and feel competitors are meeting their demands. However, could more rivals to OpenSea sway users by claiming to value and reward their participation? And could others potentially exploit users who blindly follow these notions and protocols?SOS: OpenDao receives mixed reviewsSince launching, SOS has locked in 13.7 trillion SOS in staking ($45.6 million) and 50% of its total 100 trillion total total supply is distributed to the community. Up until January 12, 2022 users were eligible to claim a 145% APY for its veSOS governance token and this came equipped with voting rights for future projects and protocols. SOS appeared to have lit the match for community activism but it faced backlash after taking back its original plans to end claiming until June 30, 2022.  Many voiced their frustration and confusion, learning that in DAOs, decisions can change with the call of a vote, and participation is highly recommended.SOS Staking Pool. Source: SOS Queries Dune AnalyticsCurrently there are over 200,000 holders and more than $2.5 billion traded and future project launches plus the current NFT marketplace could see more liquidity rotating into SOS.SOS has decreased nearly 70.5% and is trading at $0.00000327despite a looming marketplace that is speculated to offer unique trading opportunities for NFTs.SOS/USD live 24-hr Sushiswap LP Chart. Source: CoinGecko Gecko Terminal NFTs continue to surge with what looks to be no end in sight. Since January 14, 2022 OpenSea notched trading volumes over $1.03 billion, while its latest rival, LooksRare, made over $1.79 billion ranking above the giant, according to data from DappRadar. Is there more to LooksRare than just wash trading?Launched on January 10, 2022, LooksRare aimed for OpenSea’s jugular— or rather its lack of Web3 incentives and initiatives— and gained the attention of many who were already discussing the “Death of OpenSea.”The token was a “free” drop, but it came with the price of several transaction fees, including placing an NFT up for sale, claiming the airdrop and staking (optional).Even with the costs, over 110,000 wallets claimed LOOKs, from approximately 60% of the total eligible wallets, according to data from Dune Analytics. Number of LOOKS vs wallet addresses that claimed the Airdrop. Source: Dune AnalyticsLooksRare has amassed nearly $2.4 billion in total volume, but the metric only shows a piece of the entire pie. A few red flags were raised when a closer look at the amount of transactions was viewed. Comparing the number of transactions on LooksRare to OpenSea reveals that OpenSea processed over 50 times the amount of transactions of LooksRare.LooksRare has an estimate of 17 times the amount of users, yet OpenSea’s volume is half that of its rival.Shortly after launch, investors grew suspicious that traders were wash trading with Larva Labs Meebits collection to take advantage of trading rewards.LooksRare vs. OpenSea Daily Users Source. Dune AnalyticsWhile there’s a camp of individuals who are championing LooksRare and find its model promising, others are raising questions and concerns about the platform’s sustainability.Fees.wtf lived up to its nameMany were fortunate to benefit from the SOS and LOOKs airdrop but the Fees.wft airdrop was a different story. Initially, the project was a fee service on the Ethereum blockchain that calculates the total gas fees a user has spent. A user had to spend at least 0.05 Ether to be eligible to claim and once announced, traders rushed to cash in only to find the initial liquidity pool was too small resulting in 58 Ether, ($188,036) being drained by a bot. 1/ $WTF: A service, a token, and what everyone said five minutes into the launch when one bot drained 58 ETH from the pool.Let’s take a look at what happened.— meows.eth (@cat5749) January 14, 2022Aptly named, it seems users did not have to mint the Fees.WTF NFT to feel rekt. Users who were not familiar with slippage tolerances found that their orders were executed for significantly less than expected, leaving one user trading over $135,000. Daily WTF holders. Source: Dune Analytics @MilkmanDespite falling nearly 84% since a spike after its initial launch, WTF seems to continue to grab the attention of new holders with its claims window still open and the number of holders increasing.Daily WTF price. Source: Dune AnalyticsProgramming the contract so that the team makes 4% after every transfer, the team has allegedly made over $3 million and counting. Even though the platform “intended” to reward users for the fees they have spent, Fee.WTF stunted on users who paid more in fees than they actually claimed.According to Rokitapp founder Lefteris Karapetsas, the smart contract was coded to siphon Ether from anyone who interacted with the contract. Upon further inspection, Karapetsas saw the contract encoded a fixed whitelist of those who did not need to pay transfer fees. Oh hey look the @feeswtf team posted a post-mortem: https://t.co/8v1Ng3DupHIf that does not tell you need to know about the “project” I don’t know what will.— Lefteris Karapetsas | Hiring for @rotkiapp (@LefterisJP) January 15, 2022

Despite suspected wash trading and the contentious issues surrounding the association to Cole, Pudgy Penguin co-creator and investor in the project, LooksRare provides a competitive edge to OpenSea because it falls in line with the current demand of Web3 users. OpenDAO and LooksRare are good examples of what OpenSea competitors possess and are waiting to unleash. With the increasing number of individuals entering the crypto ecosystem, and many advocating for Web3 incentives, traders need to take heed and evaluate where they are placing their attention and value since there are platforms that are laser-focused on exploiting their needs.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Here’s how traders capitalize on crypto market crashes and liquidations

The first week of the new year saw a vicious pullback across all cryptocurrencies in the market. Ether (ETH) price dropped from its November peak at $4,800 peak to under $3,000 on Jan. 8 and Terra’s LUNA governance token also dropped from $85 on Dec. 31 to $67 on Jan. 8, 2022. These unexpected dramatic moves often cause liquidation cascades in the lending market, but they also create unique buying opportunities in the collateral liquidation markets.Kujira’s Orca protocol is a platform built on the Terra network and it allows investors to bid on bETH (bonded asset of Ether) and bLUNA (bonded asset of LUNA) at a discounted price when the at-risk collateral is liquidated. As a pseudonymous analyst at Kujira pointed out,“Liquidation has for so long been the ‘shady underbelly’ of lending platforms and monopolised by bots so much that the average user barely knows it’s going on, least of all how they could benefit from it”. Kujira allows anyone to participate in the liquidation process by grasping the opportunity to acquire these assets at a discounted price.In the recent crash on Jan. 8, the lowest price one could buy Ether (in its bonded asset bETH form) was $2,833, while the market price of Ether was around $3,000. Similarly, traders could buy bLUNA as low as $58.90 while LUNA’s spot price was around $67.Liquidation stats from Kujira. Source: TwitterLet’s take a closer look at the strategies for acquiring bETH and bLUNA at a discount during a market crash.Market structure provides unique opportunities to buy at a discountIn the Terra ecosystem, participants can borrow Terra USD (UST), the stablecoin of the Terra blockchain, from DeFi protocols such as Anchor to participate in high-yield liquidity pools, IDOs or any other profitable trading activities involving UST. In order to borrow UST, participants need to deposit bonded assets (bETH or bLUNA) as collateral to Anchor. The maximum amount each wallet can borrow is 60% of the collateral value, often referred to by DeFi protocols as the maximum LTV (loan-to-value).In a bull market where Ether and LUNA prices are on the rise, the LTV continues to decrease and no collateral is at risk. When the price of Ether or LUNA goes down, the collateral value decreases and if the LTV exceeds 60%, a liquidation event is triggered. This alerts Anchor to sell the proportion of the collateral that exceeds the maximum LTV at a discounted fire-sale price on Kujira Orca. This is where potential buyers on the other side of the trade can buy the collateral at a discount.How to capitalize on pricing anomalies in ETH and LUNAHere are some simple steps investors can follow if they want to purchase Ether or LUNA at a discount.After connecting the Terra wallet to the platform, an investor chooses the asset they would like to bid (currently only bLUNA and bETH are available), then selects the premium (the percentage of discount from spot) to receive.After clicking “Place My Bid” to submit the bid, the investor will see the “My Bids” window. It takes 10 minutes for the bid to be ready, and afterward, the investor needs to click “Activate” to include the bid in the bidding queue. Once the bid has been filled, the amount will be shown in the “Available for Withdrawal”’ window. The investor then needs to click withdraw and pay a fee to transfer the asset back to their Terra wallet.Kujira Orca home page demo. Source: Kujira LitepaperThere are three important things to remember when placing the bid:1. If the investor is not using KUJI (the native token of Kujira) to pay for the withdrawal fee, they should always place a premium (discount) percentage larger than 1%, as there is a network fee of 2 UST and a 1% commission fee. If using KUJI, the commission is only 0.5%.2. If there are multiple bids at different discounted rates, the investor should activate them all at once to save network fees.3. The bids are filled equally and proportionally between everyone bidding at the same discounted rate. There is no first-come, first-serve advantage or larger bids that get a filled-first advantage. The only sequence in which the bids are filled is based on the discounted rate — i.e., the lower-discount pool gets filled first. The mechanism of evenly distributing liquidation assets among each bidder ensures the fairest allocation to everyone. Ryan Park, co-builder of Anchor Protocol, said in an interview about Orca:“By evenly distributing the proceeds of liquidations amongst a greater majority, collateral isn’t going into a centralised point but back into the hands of other users. The implications are staggering and quite frankly, I don’t think enough attention has been given to just how big this is.”The example below shows that when there is a 100,000 UST liquidation to be executed, the 1% discount pool (61,000 UST in total) is filled first and the pool is fully emptied. The remaining 39,000 UST is subsequently passed onto the 2% discount pool to fill the bids. Each wallet in each pool receives a proportion of the allocated liquidation amount based on the size of their total bidding offer in the pool. It is a completely fair distribution with no priority given to the quickest clicker or the largest bidder.Example of 100,000 UST liquidation in 1% and 2% pools.Identifying the best time to buyFigure1: Number of liquidated borrowers vs. ETH price. Source: Kujira Orca, Flipside CryptoAs shown in Figure 1 and Figure 2, the best time to bid is when there is a dramatic drop in collateral asset price and many borrowers’ LTV goes below the 60% maximum level. This creates an increase in the number of liquidations (blue and purple line in Figure 1) and also the supply of liquidation assets on the platform (blue and purple bar in Figure 2).Figure 2: Liquidated amount in USD vs. LUNA price. Source: Kujira Orca, Flipside CryptoThe worst case scenario — in terms of number of liquidated borrowers — coincides with the time when bLUNA and bETH prices dropped significantly. The liquidation amount also spiked in early December 2021 and early January 2022 when Ether and LUNA prices breached major support levels as shown in Figure 2.These sudden rises in liquidation create unique opportunities for investors to purchase bLUNA and bETH at a great discount. As shown in the chart below (Figure 3), in the December LUNA crash, bidders could purchase bLUNA at a 11% to 12% discount on Kujira Orca at the peak. Figure 3: bLUNA liquidated amount in USD vs. purchase discount. Source: Kujira OrcaSimilarly (shown in Figure 4), when Ether price dropped from the $4,600 level to $4,100 on Nov. 16, bidders were able to purchase bETH at a 11% discount at around $3,700. Figure 4: bETH liquidated amount in USD vs. purchase discount. Source: Kujira OrcaLooking into the average discount bidders received in the past three months, it is very interesting to see most of the liquidations happened in the very high discount group (9 to 10%, or more than 10%) for November and December 2021. In January 2022, the concentration seems to have moved to the 6% to 7% discount bucket. However, January’s data is incomplete and only available until Jan. 10 at the time of writing. This means the concentration in the 6% to 7% bucket is only a reflection of the drop early in the year and could still change for the rest of the month.Discount bucket comparison for the past 3 months — January data is only until Jan.10. Source: Kujira OrcaTraders can earn while they waitThe historical discount data clearly shows that investors can buy bETH and bLUNA at a discount as high as 9% or 10% away from the market price but the bids might take a long time to get filled. Luckily, there will soon be a way to keep earning interest from UST while waiting for the bids.Investors can simply deposit UST to Anchor’s Earn and accrue interests at the current rate of 19% APY; and use the aUST token they receive as the IOU token to bid liquidation assets on Kujira Orca. This way, one keeps accruing interest until the bid is filled on Kujira and the aUST is converted to UST for the liquidation purchase.** Special thanks to Hans from Kujira for providing the data and insights needed to complete the article.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin’s transition to a risk-off asset will propel it to $100K in 2022, says Bloomberg analyst

Bloomberg analyst Mike McGlone is convinced Bitcoin is on track to reach $100K in 2022, as it completes its transition from a risk-on to risk-off asset. While the Fed is planning to raise interest rates to fight inflation, risk-on assets like crypto may suffer, as people would likely prefer to invest in fixed-income assets like bonds. While this trend may represent a short-term hurdle, McGlone said he is confident that Bitcoin will still appreciate significantly in 2022:“Bitcoin is in a unique phase, I think, of transitioning from a risk-on to risk-off global digital store of value, replacing gold and becoming global collateral. So I think that’s going to be happening this year.”He said he considers the current bearish sentiment as a positive sign, indicating market consolidation. The analyst is also bullish on Ethereum, given its key role in providing the main infrastructure for decentralized finance and nonfungible tokens (NFTs). He is also convinced that USD-backed stable coins will proliferate in 2022. McGlone’s outlook for the broad crypto market is not as optimistic, though, given the large number of speculative bets among altcoins.  “Simple rules of economics do not favor prices of a market where there’s an unlimited supply and ease of entry. That’s the crypto market”. To find out more about McGlone’s crypto outlook for 2022, check out the full interview on our YouTube channel and don’t forget to subscribe!

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Altcoin Roundup: 3 ways blockchain technology could further mainstream in 2022

2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend.Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions.HR might pivot toward blockchain Human resource management is ripe for blockchain integration due to the security and data storage solutions offered. Blockchain would allow each employee to have a unique address where all pertinent information could be cryptographically stored. HR also deals with the recruiting and hiring of new employees, an increasingly difficult task in today’s world where the labor force participation rate stands at 61.9%, its lowest level since 1976.For blockchain-related jobs, the task becomes even more challenging due to the limited number of people with the knowledge and capabilities to work in the nascent sector. Keep3rV1 is one protocol that focuses on connecting employers with workers, and the decentralized job board is specifically designed to connect blockchain projects with external developers that provide specialized services. KP3R/USDT. 1-day chart. Source: TradingViewWhile Keep3rV1 focuses specifically on blockchain developer jobs, if the model proves to be a success, the concept could easily be expanded to serve a wider audience of job seekers and employers. Payroll also falls under the HR category and projects like Request (REQ) support a decentralized payments system where anyone can request a payment and receive money through secure means.This is an ideal setup for freelancers. Experimental platforms like Sablier Finance also offer workers the option to be paid for their labor in real-time rather than wait for the end of a payroll period to receive their paycheck in a lump sum. The gig economyRide-sharing services like Uber and Lyft and creator/freelance marketplaces like Fiverr were the bedrock of the gig economy. 2021 estimates show that 36% of the United States workforce participated in the gig economy either as their primary or secondary source of income. Data also shows that 55% of gig workers were also working a separate primary job. Current projections indicate that by 2023, up to 52% of the U.S. workforce will be actively working in the gig economy or will have done so at some point in their career, so it’s a growing field that could benefit from the integration of blockchain technology. One project that has already established its own freelancer job board is Chronos.tech (TIME), a blockchain-based recruitment, HR and payment processing protocol whose LaborX platform is similar to websites like Fiverr but conducts all transactions utilizing blockchain technology and smart contracts. TIME/USD 1-day chart. Source: CoinGeckoIn addition to the Chronos.tech, LaborX and PaymentX protocols, the ecosystem has also recently added decentralized finance (DeFi) functionality by allowing TIME holders to stake their tokens on the protocol to earn a yield. Freelancers can stake TIME on the network to receive bonuses for completed tasks while customers can stake to earn special rebates as a reward for holding the token.Related: Volcanos, Bitcoin and remittances: A Tongan lord plans for financial securityCorporations embrace blockchain solutionsEnterprise-level blockchain-based solutions are also expected to thrive in 2022.Many of the top contenders that offer enterprise solutions are layer-one blockchain protocols like Ethereum and its Hyperledger framework or Bitcoin’s layer-two lightning network scaling solution that was recently integrated with the Cash App. Other strong contenders in the field of enterprise solutions include Fantom and the Polygon network because they have lower transaction fees and faster processing capabilities. FTM/USDT vs. MATIC/USDT 1-day chart. Source: TradingViewA final protocol that specifically focuses on creating an enterprise-grade public network that allows individuals and businesses to create decentralized applications (DApps) is Hedera (HBAR). According to Hedera’s website, the project is owned and governed by some of the world’s leading organizations including IBM, Boeing, Google, LG and Standard Bank. The high throughput nature of Hedera’s hashgraph architecture makes it ideal for large businesses that would require a significant amount of transactions to serve their global client base. These use cases include payment processing, fraud mitigation, the ability to tokenize assets, verifying identity, the secure storage and transfer of data and the ability to create a private, permissioned blockchain for in-house use. Want more information about trading and investing in crypto markets?The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook?Governing a stablecoin ecosystemFXS is the utility token underpinning the Frax ecosystem — a stablecoin protocol that seeks to occupy a middle ground between entirely collateralized and entirely algorithmic stablecoins, thus harnessing the advantages of both designs.In accordance with the protocol’s highly “governance-minimized” approach to its architecture, there is a limited set of parameters that the community gets to adjust using the token. These include refreshing the rate-of-collateral ratio — i.e., the share of the protocol’s FRAX stablecoin that is stabilized either algorithmically or through collateralization — in addition to adding collateral pools and adjusting various fees.FXS’ supply is initially capped at 100 million tokens, and the protocol is designed for the token supply to be deflationary as the demand for the FRAX stablecoin rises. This mechanism could be responsible for at least some portion of FXS’ momentum in recent weeks. As Cointelegraph previously reported, FRAX added 300% to its circulating supply between late October and late December.Curve Wars winnerBecause of this link between the demand for FRAX and the corresponding shrinkage in the supply of FXS, rounds of FRAX adoption can theoretically result in waves of FXS appreciation. Evidence supporting this hypothesis can be found in several recent instances of the decentralized finance (DeFi) community adopting the stablecoin.For one, FRAX’s addition to the Convex Finance platform, where several major DeFi protocols compete for voting rights that can be leveraged to increase their respective stablecoins’ yield, preceded a major spike in the FXS token’s price.Interestingly, many of such FXS rallies, apparently inspired by major FRAX adoption events, produce recurring patterns of trading and social activity that get detected by Cointelegraph Markets Pro’s algorithmic indicator, the VORTECS™ Score. This AI-driven tool is trained to sift through tokens’ historical performance data, looking for familiar combinations of variables such as price movement, trading volume and Twitter sentiment that have systematically preceded dramatic price movements.Green means goHere, for example, is the chart of FXS’ VORTECS™ Score vs. price from the week that FRAX was added to Convex Finance. The indicator flashed an ultra-high Score more than one full day ahead of the token’s powerful price spike.VORTECS™ Score (green/gray) vs. FXS price, Dec. 17 – 24. Source: Cointelegraph Markets ProScores above 80 conventionally indicate the algorithm’s solid confidence that the conditions around the assets are historically bullish, while those beyond 90 suggest extremely high confidence. In this case, on Dec. 20, with FXS’ price remaining largely flat, the token’s VORTECS™ Score exploded, reaching an impressive value of 96 (red circle in the chart). Thirty-two hours after the peak Score, FXS’ price shot up from $13.96 to $18.27 in just 18 hours.In the weeks that followed, FXS’ VORTECS™ Score peaks kept coming ahead of price spikes. Earlier this week, two streaks of Scores above 80 foreshadowed two phases of explosive price action, including the one that saw the asset hit a weekly high of $41.72.VORTECS™ Score (green/gray) vs. FXS price, Jan. 6 – 13. Source: Cointelegraph Markets ProNot many digital assets display high VORTECS™ Scores so frequently. Furthermore, CT Markets Pro’s internal research shows that tokens can widely vary in the degree to which historically favorable conditions anticipate their actual price movement. Apparently, what is happening in the case of recent FXS rallies is that the forces driving the waves of the token’s appreciation are similar, leading to a familiar arrangement of trading and social metrics that the VORTECS™ algorithm captures so well.Of course, the relationship between historical precedent and subsequent price action is not always this smooth. Yet, in many cases, this tool — capable of parsing years’ worth of assets’ performance data — can be massively useful for crypto traders.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial adviser before making financial decisions.

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Bitcoin cycle is far from over and miners are in it for the long haul: Fidelity report

Fidelity Digital Assets — the crypto wing of Fidelity Investments which has $4.2 trillion assets under management–shared their “two sats” on the future of the digital assets space. The key takeaways touched upon miners’ behavior and Bitcoin (BTC) network adoption. In the annual report released last week, the group shared some insights into the world of BTC mining:“As Bitcoin miners have the most financial incentive tho make the best guess as to the adoption and value of BTC (…) the current bitcoin cycle is far from over and these miners are making investments for the long haul.”The report stated that the recovery in the hash rate in 2021 “was truly astounding”, particularly when faced the world’s second-largest economy China banning Bitcoin in 2021. The rebound in hash rate since the ban thanks to BTC’s hash power being “more widely distributed around the world,” showed miners are set on long-term profits.The statements aligned with miners’ recent selling performance. Key on-chain metric indicate Bitcoin miners are in “massive” BTC accumulation mode, as miners show no desire to sell. Related: Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’When it came to orange-pilling entire countries, Fidelity made some interesting predictions into more nation-states accepting BTC as legal tender: “There i​​s very high-stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers. We, therefore, wouldn’t be surprised to see other sovereign nation-states acquire bitcoin in 2022 and perhaps even see a central bank make an acquisition.”Their comments come as Tonga’s former MP suggested the country could adopt BTC in late 2022. In essence, more regulation and better products will open up the crypto space, “bringing a greater portion of the hundreds of trillions in traditional assets into the digital asset ecosystem.” Combined with miners’ hodling, it could lengthen the cycle and drive BTC to new highs.

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Was $39,650 the bottom? Bitcoin bulls and bears debate the future of BTC price

Bitcoin (BTC) price made a quick pop above $43,100 in the U.S. trading session but uncertainty is still the dominant sentiment among traders on Jan. 11 and bulls and bears are split on whether this week’s drop to $39,650 was BTC’s bottom. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin has traded tightly around the $42,000 level as the global financial markets digested U.S. Federal Reserve Chair Jerome Powell’s statements on the upcoming fiscal policy changes.BTC/USDT 1-day chart. Source: TradingViewPowell indicated that the central bank is prepared to “raise interest rates more over time” if inflation continues to persist at high levels, but analysts were quick to note further comments, suggesting that a low-interest environment could persist for some time. It’s possible that traders may have interpreted these comments positively and while it is not possible to connect Powell’s comments to direct price movements, BTC did manage a quick surge above $43,000.Powell said, “It is really time for us to move away from those emergency pandemic settings to a more normal level. It’s a long road to normal from where we are.”Here’s a look at the ongoing debate on whether the crypto market is positioned to head higher in the coming days. Bulls call the bottomThe crypto market is well known for its volatility and history of extensive drawdowns after new all-time highs have been established, a characteristic highlighted by pseudonymous Twitter user ChrisBTCbull.Cryptocurrency drawdown percentage from 2021 highs. Source: TwitterThis across-the-board drawdown saw BTC fall by nearly 40%, while Dogecoin (DOGE) is down 79% from its highs, but according to bullish analysts, recent technical developments suggest that the market has reached a bottom. According to crypto analyst and Twitter user Will Clemente III, Bitcoin is “entering the Buy Zone on Dormancy Flow” as highlighted on the following Bitcoin entity adjusted dormancy flow chart, which “essentially compares price to spending behavior.” Bitcoin entity-adjusted dormancy flow. Source: TwitterClemente said, “This bottoming signal has only flashed 5 times before in Bitcoin’s history.”Related: Bitcoin price surges to $43K, but traders warn that ‘real pain’ is due for altcoinsA Death Cross loomsDespite Jan. 11’s spike to $43,100, many analysts are pessimistic about Bitcoin’s short-term prospects and caution that a potential “death cross” on the daily chart has historically been a strong bearish indicator. As shown below, the 50-day moving average is perilously close to falling below the 200-day moving average, a convergence that, in the past, resulted in sharp price declines.BTC/USD 1-day chart. Source: TwitterBitcoin Archive said, “Bitcoin is approaching the “Death Cross.” The last time this happened in June the price dropped 20% more over 31 days. That would take us down to $34K by the 9th of Feb if this repeated.”As for the altcoin market, the recent price weakness in the USD and BTC pairs was addressed by analyst and pseudonymous Twitter user Pentoshi, who posted the following tweet suggesting a more bearish performance in the near term for alts. Im pretty bearish alts. The hilarious part is the people replying to me with their alts which are in downtrends on both usd/btc pairs. The point of the bounces is to get you to chase into your lower highsI still believe Btc is in a downtrend. Bc it is. Which is why LH expected— Pentoshi DM’S ARE SCAMS (@Pentosh1) January 11, 2022For the time being, traders appear content to play the waiting game to see if the crypto market reverses course of stays range-bound for the foreseeable future.The overall cryptocurrency market cap now stands at $1.998 trillion and Bitcoin’s dominance rate is 40.3%.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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5 NFT marketplaces that could topple OpenSea in 2022

OpenSea has been the dominant decentralized platform for users looking to mint, buy, sell and trade nonfungible tokens (NFTs). Serving more as an NFT aggregator than a gallery, OpenSea locked in $3.25 billion in volume for December 2021 alone, according to data from Dune Analytics and from December 2020 to December 2021, the total volume increased by a whopping 90,968%.No stranger to contention and criticism, OpenSea has had its fair share of perils and pitfalls. Most notably, its former head of product, Nate Chastain, found using insider information to front-run and profit from selling the platform’s front page NFTs. Adding to the overall feeling of distrust, the community felt devalued after newly appointed chief financial officer (CFO) Brian Roberts hinted at going public. However, he quickly reaffirmed that OpenSea has no intention to go public anytime soon.OpenSea might be the top NFT marketplace by transaction volumes at the moment, but in 2022, there are bound to be a handful of competitors aiming to unseat the giant.Here are five NFT marketplaces that could potentially shake the top contender from its spot in the coming months ahead. Coinbase NFTCoinbase seems to be leaning on elements of centralization as the primary driver for mass adoption. Tapping into the growing popularity of NFTs, Coinbase rivals OpenSea in launching its NFT marketplace, Coinbase NFT. According to reports, the waitlist has exceeded 1.1 million, which is more than OpenSea’s total active user-base alone. Monthly active traders at OpenSea. Source: Dune AnalyticsAnnouncing its launch of Coinbase NFT was a signal that captured the increasing value NFTs could capture as digital collectibles continue to go mainstream. Understanding how NFTs bridge culture and commerce, Coinbase NFT is likely to shake up the order of things. Meanwhile, the project has established partnerships with collections like World of Women, DeadFellaz and Lazy Lions. While the marketplace has not yet launched, its waitlist alone suggests that many investors are either eager to gain exposure to the technology for the first time or want alternatives to what they already use.It gives us great pride to announce our partnership with the Kings and Queens of the Lions Den. We love us some @LazyLionsNFT. #ROAR pic.twitter.com/5Od1d77dPm— Coinbase NFT (@Coinbase_NFT) December 7, 2021Based on a statement made by Coinbase, Coinbase NFT will be peer-to-peer (P2P) “…with an intuitive design built on top of a decentralized marketplace.” Initially following the ERC-21 and ERC-1155 standards, the product also has plans to support multi-chains in the future. Coinbase NFT will primarily function as a marketplace, but the company has hinted that it will also serve as a place to “foster connections.” To date, Coinbase operates in over 100 countries and reports over 73 million active users while Coinbase’s clients quarterly trade $327 billion in volume, proving that there is a decent amount of liquidity in circulation.More than the amount of volume trading, Coinbase touts its robust user experience (UX) and seamless user interface (UI) design that is streamlined and user-friendly. Even though many take to Twitter and complain about OpenSea’s UX/UI design, many other platforms come with barriers to entry, whereas OpenSea doesn’t. FTX NFTs Contrary to Coinbase NFT, FTX marketplace launched in October with a small collection of Solana-based NFTs, and it expanded its collection toward those on the Ethereum blockchain. Unlike OpenSea and Coinbase NFT, FTX NFTs is not a P2P platform, meaning it is centralized and custodial, whereby users’ data is recorded and stored on its particular network. This means users and collectors forgo ownership in some sense. The implications of it being a centralized platform are that the platform tends to enforce less autonomous perks to its owners and more restrictions and limitations due to securities laws concerns. Unlike OpenSea where users have full autonomy over their digital assets up until the sale, FTX NFTs implements bidding mechanisms. ​​As Brett Harrison, President FTX.US explained in a statement: “By not requiring gas for doing things like bids, we’re going to see a lot more price action and price discovery on the platform, and we hope that in general attracts liquidity,” Its law-abiding ways caused such a strong influence across the Solana NFT collections that many had to revoke their formerly promised royalties since FTX NFTs announced it no longer would support projects granting its owners such a perk. The consequence came as a result of United States regulatory concerns. Projects on the Ethereum network are also vetted to make sure they are abiding by securities laws and to ensure they are not counterfeit knockoffs. As such, OpenSea retains its value as it maintains quite the breadth of NFT collections. Solana nft devsLast week: “We need to add royalties to our project”This week: “No royalties. We need to be on FTX”.— Ayofinance (@Ayofinance1) October 11, 2021

Regardless of its minor hiccups, the marketplace has received attention and undercuts its rival in fee structure. FTX NFTs has a fee structure of 2%, while Coinbase’s is 2.5%. The platform also doesn’t seem to be dismissive to users eventually using non-custodial wallets, but its primary focus is value in accessibility. Rarible Long before OpenSea pumped its way to the top, Rarible was putting up monthly trading volumes higher than its counterpart. Despite opening its platform to the community with its governance token RARI — something OpenSea users have persistently been anticipating — Rarible has not been able to sustain the lead it once had over OpenSea. In November, the platform’s total value in volume was 4% higher than in October, averaging an estimated $18.2 million. However, its monthly total volume pales in comparison to OpenSea’s, given its daily volume averages at least five times higher.To Rarible’s benefit, much like FTX NFTs marketplace, it understands the benefit of multi-chain strategic partnering. Rarible has already launched its support of NFTs on the Flow and Tezos blockchain, and there are plans to support Solana and Polygon in the near future. Monthly volume (primary vs secondary) sales. Source: Dune AnalyticsWith its decentralized ethos and its multi-chain support of NFTs, Rarible could become a serious contender in 2022.Zora Zora presents itself as a champion for Web 3.0 and decentralization as it touts its completely “on-chain” permissionless platform. Since decentralized autonomous organizations (DAOs) tend to gravitate toward these principles, the platform holds its value in historical purchases like PleasrDAOs $4 million purchase of the original doge-meme NFT. web3 means satisfying ≥1 of these criteria:- majority owned/controlled by users- permissionlessly accessible/forkable- censorship resistant@rainbowdotme is open source – > web3Coinbase wallet is closed – > not web3@ourZORA open NFT auction standards – > web3OpenSea? nope— . ∴ (@nir_III) December 15, 2021

Zora has a zero-fee structure and centers most of its efforts on being the cornerstone permissionless protocol. Many crypto pundits are attracted to the idea of artists and creators having more autonomy and ownership over their creations. If these remain pertinent concerns in 2022, it’s possible that Zora could see an influx of new users.Magic Eden Magic Eden is currently the top NFT marketplace on the Solana network and according to DappRadar it is ranked among the top ten NFT marketplaces with $267.14 million since its launch in mid-September 2021. The number of unique wallets has rebounded and has been steadily increasing in the last two months making it a strong contender to OpenSea. Although it’s important to note that users are known to hold more than one wallet address, perhaps suggesting that there could be fewer unique active users.OpenSea on-chain data. Source: DappRadarLow transaction fees at 2% give the platform a competitive edge when compared to other marketplaces and, like FTX NFTs, listing is free for users. As shown below, the number of transactions on Magic Eden often doubles or even triples the amount of transactions occurring on OpenSea.Magic Eden on-chain data. Source: DappRadarAlthough Magic Eden had a higher amount of transactions, the amount per transaction is less than on OpenSea. According to DappRadar, Magic Eden has amassed over 4.5 million transactions within the last 30 days while OpenSea has processed less than half that figure at 1.7 million, yet it has a little over five times the total volume of Magic Eden. As the pace of NFTs has been set and digital collectibles continue to go mainstream, 2022 could see a larger demographic whose preferences may not align with OpenSea. By valuing accessibility, regulation and a better user experiences, these five NFT marketplaces are strong contenders to take their spot on top. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Even after the pullback, this crypto trading algo’s $100 bag is now worth $20,673

Exactly one year ago, on Jan. 9, 2021, Cointelegraph launched its subscription-based data intelligence service, Markets Pro. On that day, Bitcoin (BTC) was trading at around $40,200, and today’s price of $41,800 marks a year-to-year increase of 4%. An automated testing strategy based on Markets Pro’s key indicator, the VORTECS™ Score, yielded a 20,573% return on investment over the same period. Here is what it means for retail traders like you and me.How can I get my 20,000% a year?The short answer is – you can’t. Nor can any other human. But it doesn’t mean that crypto investors cannot massively enhance their altcoin trading game by using the same principles that underlie this eye-popping ROI.The figure in the headline comes from live testing of various VORTECS™-based trading strategies that kicked off on the day of the platform’s launch. Here is how it works.The VORTECS™ Score is an AI-powered trading indicator whose job is to sift through each digital asset’s past performance and identify multi-dimensional combinations of trading and social sentiment metrics that are historically bullish or bearish. For example, consider a hypothetical situation where each time Solana (SOL) sees an extra 150% of positive tweet mentions combined with a 20% to 30% in trading volume against a flat price, its price spikes massively within the next two to three days.Upon detecting a historically bullish arrangement like this one in, say, SOL’s real-time data, the algorithm will assign the asset a strong VORTECS™ Score. The conventional cutoff for bullishness is 80, and the more confident the model is that the outlook is favorable, the higher the Score.In order to get a sense of how the model performs, starting from day one the Markets Pro team live-tested a number of hypothetical trading strategies based on “buying” all assets that cross a certain VORTECS™ Score and then “selling” them after a fixed amount of time.These transactions were executed in a spreadsheet rather than an exchange (hence no fees to eat off the gains), 24/7, and involved complex algorithmic rebalancing to ensure that at any given moment all assets that hit a reference Score are held in equal shares in the portfolio. In short, following these strategies was something only a computer could do.The winning strategy, “Buy 80, Sell 24 hours” entailed buying every asset that reached the Score of 80 and selling it exactly 24 hours later. This algorithm yielded a hypothetical 20,573% of gains over one year. Even among other humanly impossible strategies, it is an outlier: the second-best one, “Buy 80, Sell 12 hours,” generated 13,137%, and number three, “Buy 80, Sell 48 hours,” yielded a “mere” 5,747%.Down to earthWhat these insane numbers show is that the returns that high- VORTECS™ assets generated compounded nicely over time. But what’s the use if real-life traders could not replicate the compounding strategy? A more practical way to look at the VORTECS™ model’s performance is through average returns after high Scores. No fancy rebalancing, just a plain average price change that all high-scoring tokens demonstrated X hours after reaching the Score of Y. Here are the numbers:These look much more modest, don’t they? However, if you think of it, the picture that these averages paint is no less powerful than the mind-blowing hypothetical annual returns. The table demonstrates robust positive price dynamics after high Scores, averaging across all types of assets and in all market situations that occurred throughout the year.The trend is unmistakable: tokens that hit VORTECS™ Scores of 80, 85, and 90, tend to appreciate within the next 168 hours. Higher Scores are associated with greater gains: the algorithm’s stronger confidence in the bullishness of the observed conditions, indeed, comes with greater yields (although higher Scores are also rarer). Another important factor is time: the longer the wait after a reference threshold is reached, the greater the average ROI.GET MARKETS PRO RIGHT NOWIn this sense, rather than trying to follow the complex “Buy 80, Sell 24 hours” algorithmic strategy (which is, again, a futile exercise), real-life traders could maximize their fortunes by buying at higher Scores and holding for longer times.Varying predictabilityA separate stream of internal Markets Pro research looked at whether some coins are more prone than others to exhibit historically bullish trading conditions before dramatic price increases. This turned out to be the case, with tokens like AXS, MATIC, AAVE and LUNA leading the pack in terms of the most reliable positive price dynamics following historically favorable setups. Overall, the majority of frequent high-VORTECS™ performers delivered robust positive returns.After a full year in operation, these disparate pieces of quantitative evidence – the mind-bending ROIs of algorithmic live-testing strategies, high-VORTECS™ assets’ sound average gains, and individual coins’ steady average returns after high Scores – present a compelling case for the utility of the “history rhymes” approach to crypto trading.Obviously, a favorable historic outlook, captured by a strong VORTECS™ Score, is never a guarantee of an impending rally. Yet, an extra pair of algorithmic eyes capable of seeing through and comparing across billions of historical data points to alert you of digital assets’ bullish setups before they materialize can be an incredibly powerful addition to any trader’s toolkit.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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5 NFT-based blockchain games that could soar in 2022

After the popularity of DeFi, came the rise of nonfungible tokens (NFTs) and to the surprise of many, NFTs took the spotlight and remain front and center with the highest volume in sales, occuring at the start of January 2022. Growing number of unique NFT buyers on Ethereum Source: Delphi DigitalWhile 2021 became the year of NFTs, GameFi applications did surpass DeFi in terms of user popularity. According to data from DappRadar, Bloomberg gathered: “Nearly 50% of active cryptocurrency wallets connected to decentralized applications in November were for playing games. The percentage of wallets linked to decentralized finance, or DeFi, dapps fell to 45% during the same period, after months of being the leading dapp use case.” Blockchain, play-to-earn game Axie infinity, skyrocketed and kicked off a gaming craze that is expected to continue all throughout 2022. Crypto pundits and gaming advocates have high expectations for p2e blockchain-based games and there’s bound to be a few sleeping giants that will dominate the sector.Let’s take a look at five blockchain games that could make waves in 2022.DeFi KingdomsThe inspiration for DeFi Kingdoms came from simple beginnings— a passion for investing that lured the developers to blockchain technology. DeFi Kingdoms was born as a visualization of liquidity pool investing where in-game ‘gardens’ represent literal and figurative token pairings and liquidity pool mining. As shown in the game, investors have a portion of their LP share within a plot filled with blooming plants. By attaching the concept of growth to DeFi protocols within a play-and-earn model, DeFi Kingdoms puts a twist on “playing” a game.DeFi Kingdoms aerial image. Source: Twitter DeFi KingdomsBuilt on the Harmony Network, DeFi Kingdoms became the first project on the network to ever top the DappRadar charts. This could be attributed to an influx of individuals interested in both DeFi and blockchain games or it could be attributed to its recent in-game, utility token (JEWEL) surging.JEWEL is a utility token which allows users to purchase NFTs in-game buffs to increase base-level stat, and it is used for liquidity mining that grants users the opportunity to make more JEWEL through staking. JEWEL/USD daily chart. Source: Gecko Terminal JEWEL is also a governance token that gives holders a vote in the growth and evolution of the project. In the past four months the token price surged from $1.23 to an all time high of $22.52. At the time of writing JEWEL is down by nearly 16%, trading at $19.51. Surging approximately 1,487% from its humble start of $1.23 four months ago, back in September, JEWEL token price has increased roughly 165% this last month alone, according to data from CoinGecko. Guild of GuardiansGuild of Guardians is one of the more anticipated blockchain games in 2022 and it is built on ImmutableX, the first layer-2 solution built on Ethereum that focuses on NFTs. Aiming to provide more access, it will operate as a free to play, mobile RPG game modeling the play-and-earn mechanics. Guild of Guardians Heroes. Source: Guild of GuardiansSimilar to blockchain games like Axie Infinity, Guild of Guardians in-game assets can be exchanged. The project seems to be of interest to many gamers and investors with both its NFT founder sale and token launch generating nearly $10 million in volume. Launching its in-game token in October of 2021, the Guild of Guardians (GOG) tokens are ERC-20 tokens known as ‘gems’ inside the game. Gems are what power key features in the game such as mint in-game NFTs, interact with the marketplace and are available to earn while playing. GOG monthly price action. Source: CoinGeckoFor the last month, the Guild of Guardians token has performed strongly, reaching an all-time of $2.81. Despite the token being down nearly 50% from it’s all-time high, at the time of writing, some members of the community are looking forward to the possibility of staking and liquidity pools, which are features that tend to help stabilize token prices.Galaxy Fight ClubImagine taking a proof-of-picture (pfp) NFT and making it into an avatar to battle other fighters in a galaxy far away? Galaxy Fight Club (GFC) is a blockchain game that switched its gear from a 10,000 avatar collection to the first cross-brand and cross-platform PvP fighting game where players can fight with their collection of avatars.Focusing on interoperability, GFC uniquely places high value on its original fighters, but allows other avatars to battle for the opportunity to earn rewards.Artist’s depiction of gameplay in GFC. Source: Galaxy Fight Club AvatarThe game is expected to launch on the Polygon network and it will feature different themes from various partnering collections such as Animetas and CyberKongz, integrating its cross–platform aim. GFC plays on the nostalgia of SuperSmash Bros., except one is battling for loot keys to open loot boxes rather than simply wiping out their opponent.GFC is currently in beta testing, and is facing minor setbacks, including a delayed IDO. To date, it’s not clear when public access will be made available, but many are hopeful for a Q1 2022 rollout. GCOINEach Galaxy Fighter generates anywhere between 5 to 15 GCOIN daily, and each fighter began generating GCOIN in October of 2021. If a fighter is sold, the new owner will inherit the GCOIN presently accrued. GCOIN is likely to be valuable in the ecosystem because it is needed to power players in game moves, the forging of weapons, opening loot boxes and training and selling second generation fighters.Despite its minor setbacks, an IDO for GCOIN is scheduled on PolkaStarter for January 6and is set to release 4 million tokens for sale at $0.50 each and a max allocation of $500 per wallet. Sadly, the project’s KYC and whitelist requirements have left many residents sitting out.According to Ado, a team lead for the project, “The first $1.5M was purchased and sold out in roughly 15 minutes, at which point the remaining $500K reserved only for the Battle Pass holders took another hour to be filled,” indicating a successful IDO. Approximately 2,600 unique wallets are holding GFC fighters, with the top wallet holding nearly 2% of the entire collection. CryptoBeastsCryptoBeasts is a pixelated digital art game that elicits the retro feel of the original Zelda game. Built on the Ethereum blockchain CryptoBeasts is a ‘peer-to-peer electronic rare egg system,’ (first for everything, right?) These 10,000 pixelated colorful eggs grant each owner one land parcel in the game’s “Eggland” universe and one DAO vote. Hatched CryptoBeasts. Source: CryptoBeastsThe DAO operates on a hierarchy where the number of eggs a player owns determines their status and as strange as it sounds, each decision appears to be calculated in CryptoBeasts. Numbers are worth noting as they can determine one’s status, and prime numbered eggs tout benefits like yielding more of its native CBX token and they also hatch rare beasts with increased strength.According to data from Dune Analytics, the highest-selling rare egg went for 5 Ether, valued at $9,085 at the time of sale. On December 31, 2021 an announcement about in-game tokenomics resulted in an uptick in sales and the current entry point at 0.05 Ether is notably higher than the 0.01 ETH mint price in June 2021. CBX tokenWhile Cryptobeasts claims it’s more than “play to earn,” but rather “fun-to-play” it is still a blockchain game whose competitive edge is also dependent on its tokenomics. The native token, CBX, is the in-game token that is scheduled to be airdropped to all rare-egg holders. CBX tokens can allegedly be used and earned in a variety of ways such as beast battling, land parcels generating daily CBX, completing certain in-game tasks and farming and harvesting resources. CBX can also be staked, incentivizing HODLing a little longer than intended. The token is expected to power in-game utilities and functionalities like purchasing items within the in-game economy to breeding. Similar to Axie Infinity, but not by happenstance, CryptoBeasts intends to integrate an academy and scholarship to provide the opportunity for bigger investors to loan out their assets.Axie Infinity Notably, the first blockchain game to execute its play-to-earn model, Axie Infinity has an established, highly developed ecosystem with a strong economic model. Axie Infinity is currently seen as the trojan horse for broader blockchain game adoption.3D scene of Axies. Source: Axie Infinity Land 3D TeaserAxie Infinity continues to solidify its place at the top of DappRadar NFT rankings, according to its data. As the top traded collection, Axie Infinity comes on top of NBA TopShot, Splinterlands, and WAX blockchain’s, “Farmer’s World,” closing out $563.6 million in the past 30 days. SLP, AXS and RONAxies are the NFT used for gameplay and can be bred using SLP, the in-game utility token, and AXS, which is the governance token. AXS can be staked, and with over $1.68 billion staked, users are continuing to reap a substantial APY despite yield being reduced from over 200% at the start to roughly 86%. The recent launch of the Katana DEX gives players the opportunity to provide liquidity using SLP or AXS to farm RON. RON is the ecosystem token and, similar to MATIC, it will be used as the gas fees on Axie Infinity’s Ronin sidechain. Axie Infinity, in many ways, is its own digital nation with a real economy. Like any first market mover, it faces challenges and its recent price correction could be an attractive entry point for investors who were previously priced out. With land yet to be released, users may have the opportunity to craft and harvest resources that will generate other tokens. To date, one of the largest digital land sales in the NFT / Metaverse sector came from an Axie Infinity one of 75 genesis land plots that sold for $2.3 million.Adapting to the rapidly growing blockchain games ecosystem, the Sky Mavis team has announced that it has rewritten the core engine from its 2D art style to 3D. The team also announced that ‘Project K’— codename for a piece of a game and Lunacia’s kingdom— will be released in phases and each focuses on different elements of the game from resource gathering to “group strategic gameplay.” As the concept of blockchain games gains broader adoption, and “play to earn” and “play and earn” models continue to develop, 2022 will be an exciting year for gamers, creators, and investors alike. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Here are the most predictable tokens of 2021 – for those who knew where to look

Digital assets’ past performance is never a guarantee of future price movement. There are never two identical situations in the crypto marketplace, so even historically similar patterns of a token’s behavior can be followed by starkly different price action charts.Still, crypto assets’ individual history of price action often rhymes, giving those who can ready this history right a massive edge over other traders. And, importantly, some tokens are much more likely than others to exhibit recurring behavior, which makes their bullish setups more recognizable ahead of time.Cointelegraph Markets Pro, a subscription-based data intelligence platform whose job is to search for regularities in crypto assets’ past trading behavior and alert traders to historically bullish conditions around individual assets, has been live for almost an entire year now. Based on a year’s worth of tokens’ performance data, here are the assets that exhibited historically bullish trading conditions most frequently, along with their subsequent price dynamics.Top 20 digital assets by the number of days with VORTECS™ Scores of 80, 85, and 90. Source: Cointelegraph Markets ProThe chart shows top 20 digital assets by the overall number of instances when they hit a VORTECS™ Score of 80. The VORTECS™ Score is an algorithmic indicator that considers a host of variables around each coin — including market outlook, price movement, social sentiment, and trading activity — to assess whether its present conditions are historically bullish, neutral, or bearish. Conventionally, VORTECS™ Scores above 80 are considered confidently bullish, while 90 and above indicate the model’s extreme confidence in the asset’s tremendously favorable outlook.Despite metaverse coins – AXS and SAND – occupying spots number one and three on this list, no single digital asset sector dominates the chart, with layer-one and DeFi tokens also widely represented in the top 20. It appears from this data that tokens’ likelihood to exhibit historically favorable trading patterns does not depend on asset class.For example, AXS has gone above the Score of 80 on 75 occasions, while layer-one AVAX recorded 42 instances of a historically favorable outlook, and DeFi token COTI sported 40 high-VORTECS™ days.Average gains generated by top 20 high-VORTECS™ assets 24, 48, and 96 hours after reaching the Scores of 80 and 90. Source: Cointelegraph Markets ProThe second chart presents the average gains that frequent top VORTECS™ performers yielded 24, 48, and 96 hours after hitting the Scores of 80 and 90. There are few bars pointing below zero, but the majority show solid positive returns, meaning that most assets consistently appreciated after demonstrating strong bullish conditions. Here’s AVAX, one of the top performers:24 hours after Score 80: Average gain 2.5%48 hours after Score 80: Average gain 5.3%96 hours after Score 80: Average gain 10.4%24 hours after Score 90: Average gain 10.8%48 hours after Score 90: Average gain 16.0%96 hours after Score 90: Average gain 19.1%Other high scorers boast even more impressive returns on certain timeframes. For one, LUNA did exceptionally well 48 and 96 hours after achieving a VORTECS™ Score of 90, yielding on average 31.7% and 40.9%, respectively.GET MARKETS PRO RIGHT NOWGranted, some assets behaved less consistently, with average returns bars pointing both above and below zero, while others, like AAVE, LRC, and OGN tended to lose value after flashing historically bullish patterns.Nevertheless, the performance of most of the featured assets is overwhelmingly positive, beating the market by a wide margin. This trend is observed across hundreds of VORTECS™ Score instances and remains robust over the period of 12 months that included stints of bull, bear, and sideways market. It might not be a universal law, but it is evident that there is a sizable group of well-performing crypto tokens whose history often rhymes, much to the savvy traders’ delight.Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.

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