“Online player communities thrive on an active and contributing user base. The Axie Comunity has a very strong online presence and averages more than 2 million daily active users, which attracts players. These numbers are similar to DOTA2, League of Legends (LoL), and MMORPG. Traders, like gamers, also seek a community that can offer avenues where they can get more done as a group,” Rangnekar added. Source
As the total cryptocurrency market capitalization dipped below $2 trillion last week, major crypto executives have been increasingly talking about a potential continuous bear market or a “crypto winter.” Contrary to the expectations of many in the crypto market, Bitcoin (BTC) failed to surge above $68,000 in 2021 and continued dropping below $40,000 in early 2022, causing significant losses for big crypto investors such as MicroStrategy. However, a possible crypto winter could be pretty helpful for the industry by giving a boost in improving the technology, according to Vitalik Buterin,…
Crypto exchange FTX is starting a new gaming unit aimed at encouraging game publishers to embrace cryptocurrencies. Source
Kazakhstan, one of the world’s top Bitcoin (BTC) mining locations, is likely to lose its BTC hash rate share leadership in the next hash rate distribution update, according to industry experts. According to Cambridge Bitcoin Electricity Consumption Index (CBECI), Kazakhstan was housing over 18% of the world’s BTC hash rate as of August 2021, following only the United States. Kazakhstan’s BTC mining power increase was partly driven by the massive Chinese miners’ exodus triggered by China’s cryptocurrency crackdown. Prior to falling to zero as of August 2021, China’s BTC hash…
Salvadoran President Nayib Bukele wants to offer citizenship to those who invest in the small Central American nation. President Bukele took to Twitter to inform the crypto community on Sunday that he was sending a list of 52 legal reforms to Congress. Among the most notable proposals, Bukele called for the removal of red tape, reducing bureaucracy, creating tax incentives and, most importantly, offering citizenships to foreigners looking to invest in the nation. I’m sending 52 legal reforms to congress, to remove red tape, reduce bureaucracy, create tax incentives, citizenship…
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Non-fungible token (NFT) marketplace OpenSea has issued an update about the phishing attack targeting smart contracts on its platform. Source
Bitcoin (BTC) is now seeing “tepid” demand just three months after hitting its latest all-time high, according to on-chain analytics firm Glassnode. In a tweet on Feb. 18, researchers flagged a sea change in Bitcoin on-chain activity compared to just three months ago. Bitcoin active entities echo 2019 “mini bull peak” Bitcoin’s descent from $69,000 to $33,000 has been accompanied by a widely-publicized crash in interest from mainstream consumers. Now, the latest data shows that for existing on-chain entities — holders of one or more wallets — the same true.…
This growing correlation may be evidence of a change in the nature of bitcoin as an asset class, Man Group said, noting that before 2019 the digital asset went through periods of negative correlation with both measures. Since then, correlations to “risky tech” have turned positive, it added. Source
Russia’s largest social media network, Vkontakte, has announced it’s going to introduce support for blockchain and NFTs. The crypto technologies will be incorporated into the platform’s scheme for monetization of user content and copyright protection. Vkontakte to Facilitate Use of Non-Fungible Tokens The leading Russian social media platform, Vkontakte, intends to utilize blockchain technology and non-fungible tokens (NFTs), the company’s Technical Director Alexander Tobol unveiled in a recent interview with Vesti. Both will become part of a set of tools for monetizing user-generated content and protecting copyrights, the executive explained.…