Day: November 2, 2023

Axie Infinity developer brings Japanese Web2 games to Ronin

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On November 2, Sky Mavis, the developer behind the popular monster-battle nonfungible tokens (NFT) game Axie Infinity, announced a partnership with Korean gaming studio Act Games, to bring a variety of Japanese video game franchises to its native Ronin blockchain. In an email seen by Cointelegraph, the partnership revealed that the first game to be bridged to Ronin is Zoids Wild Arena, inspired by Japan’s largest toy manufacturer Tomy’s award-winning anime series. It was first unveiled by Tomy in 1983 as a plastic model figure. Other franchises to be migrated…

Abu Dhabi Global Market introduces comprehensive DLT Foundations Regulations

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The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. The international financial free zone’s regulatory framework is “purpose-built” and the first of its kind, the agency claimed. The Distributed Ledger Technology (DLT) Foundations Regulations will provide for the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs) and traditional foundations expanding into DLT. Blockchain foundations provide financial and other forms of support for a blockchain without direct involvement in it. The regulations enable the creation of a “DLT Foundation” by submitting a signed…

XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?

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XRP, the native cryptocurrency of the Ripple network, reached a significant milestone as it soared to the crucial psychological level of $0.60, marking its highest value since the mid-August market crash.  In financial terms, psychological levels are key price points where traders and investors have historically shown heightened interest, often leading to increased buying or selling pressure. Crossing this mark after a prolonged period of market volatility signals a potential shift in sentiment for XRP enthusiasts, who have eagerly awaited a resurgence in the coin’s value. Related Reading: Solana Bull…

A deep dive into FTX’s on-chain funds movement

FTX, despite its bankruptcy, is making substantial moves in its token portfolio, leading to speculations of imminent asset sales. In the last few days, FTX, the bankrupt digital currency exchange founded by Sam Bankman-Fried, has undertaken a substantial rearrangement of its token portfolio. The movements come after a U.S. bankruptcy court granted the exchange permission to sell, stake, and hedge a reported $3.4 billion in crypto assets in partnership with Galaxy Digital. With all parties keen to expedite the process, it has commenced even as Bankman-Fried undergoes trial for charges,…

Spot ETF-induced Bitcoin rally isn’t guaranteed to stick: Analysts

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While the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) will likely spike the price of Bitcoin, some analysts are concerned it won’t be enough to fully thaw the markets from its winter chill.  On Oct. 24 Bitcoin staged its largest single day rally in over a year, surging more than 14% on the news that the ticker of BlackRock’s spot Bitcoin ETF — IBTC — had been listed on the Depository Trust & Clearing Corporation (DTCC) website, something markets understood as a positive step forward for the funds’…

DOT Price (Polkadot) Surge to $5.5 – Are Bulls Ready For This?

Polkadot (DOT) is gaining pace above the $4.50 resistance against the US Dollar. The price could surge toward $5.5 if it clears the $4.80 resistance. DOT is slowly moving higher above the $4.50 resistance zone against the US Dollar. The price is trading above the $4.60 zone and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $4.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a close…

Coinbase unveils crypto futures trading for eligible US traders

Coinbase Financial Markets has officially launched crypto futures trading for eligible US traders, following its approval to operate as a futures commission merchant by the National Futures Association. Coinbase Financial Markets has expanded its offerings by introducing crypto futures trading to eligible US traders. This move follows the company’s clearance to operate as a futures commission merchant by the National Futures Association in August. A futures contract represents a legal agreement to purchase or sell an asset at a predetermined price at a specified future date. For traders, futures offer…

Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

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While publicly mocking non-fungible token (NFTs) during a podcast, Tesla CEO and billionaire Elon Musk appears to have inadvertently highlighted the case for Bitcoin Ordinals, also known as Bitcoin NFTs. “The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG,” said Musk in an Oct. 31 released interview on The Joe Rogan Experience. Musk said NFT projects should at least encode the JPEG on-chain: “You should at least encode the JPEG in the blockchain. If the company housing the image…

Ethereum Bulls Keeps Pushing, Why Rally Could Soon Reach $2,000

Ethereum price popped above the $1,850 resistance against the US dollar. ETH is showing positive signs and might soon climb toward the $2,000 resistance. Ethereum is slowly moving higher above the $1,850 resistance zone. The price is trading above $1,820 and the 100-hourly Simple Moving Average. There was a break above a key declining channel with resistance near $1,818 on the hourly chart of ETH/USD (data feed via Kraken). The pair is signaling bullish signs and a possible move toward the $2,000 resistance. Ethereum Price Aims Higher Ethereum formed a…