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People Are Earning Cryptos for Playing Axie Infinity Game

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Cryptocurrency games aren’t exactly new anymore and Ethereum has always been the more popularly used crypto when It comes to this. Recently, however, an ETH and NFT-based crypto game called Axie Infinity is becoming extremely popular, and many people are now earning a lot of money from playing this.

Axie Infinity could generate up to around 40 million USD in revenue in just a week. Its play-to-earn scheme is what many people immediately like about this game. It’s also fun and competitive with its adorable graphics and gameplay. Such games are what more and more crypto users are starting to get into. Visiting the latest Bitcoin casinos is still an option for crypto users, but the charm of playing these NFT-based games is hard to resist. Especially if this is something you can play the whole day without necessarily spending more money.

Axie Infinity

More About Axie Infinity

While there are many other crypto games that people can play these days, the current leader in this space is Axie Infinity. It is a Pokémon-style game that is developed by Sky Mavis which is based in Vietnam. Currently, it has over 350,000 daily active users. This game is extremely popular in countries like the Philippines, Venezuela, and the United States.

Coinbase 2

Just like Pokémon, the game is mainly about creatures called Axies. Players can breed, acquire, and train them so that they can complete challenges and get into a battle with other Axies online. The main objective of this game is to obtain Small Love Potions or SLPs that can be used to breed new Axies.

Now, earning SLP is the main way for people to earn money as this can be sold on a crypto exchange. Based on reports, the top players in this game are earning as much as 1,500 SLPs in a day and this equates to around $435. This amount will depend on the current USD exchange of the said currency which is constantly changing.

Aside from SLPs, the Axies that players have can also be traded or sold as non-fungible tokens or NFTs with Ethereum. Other items in the games like real estate, flowers, lamps, and barrels are also NFTs which means that they can also be sold or traded. To date, the most expensive Axie sold is a triple mystic called Angel. This was sold for 300ETH last year which was, during that time, valued at around 120,000 USD. It has been reported that the monthly trading volume within the game is already worth around 170 million USD. Around 1.2 million of this are from in-game real estate trades.

What’s great about NFTs is that it’s a legal and better version of trading in-game items and currencies. For regular games like World of Warcraft, Call of Duty, and many more, some players would sell their accounts or items for real money. However, these games typically do not allow this. Many players have already been banned from playing these games after selling their accounts or items. This is not going to be a problem for NFT games though.

Other Cryptocurrency Games Over the Years

Axie Infinity isn’t the first when it comes to this type of game. In 2017, Cryptokittes was released by a Canadian developer called Dapper Labs. Like Axie Infinity, it also allows players to breed, purchase, collect, and sell virtual cats. It is considered one of the earliest attempts to involve cryptocurrencies in recreation and leisure activities.

Another NFT game that people can play is Splintercards. This is something that card gamers could enjoy as it is a game where they could play and trade digital in-game cards. Here, players get to build a deck of cards that could improve their stats and abilities.

For people who are more into games like Diable, there is also an NFT-game similar to this called Lost Relics. According to players, they could earn as much as 100 USD a day by playing this. In this game, players can fight monsters, invade dungeons, and complete quests. Throughout the game, players get to collect loots that could be valuable.

Another fun game that people could play is Town Star which is a SIM game developed by the company behind Words With Friends and Farmville. What makes this game unique is that the players can only keep their stats for six days because, after that, all achievements will be reset. Players are rewarded on the sixth day with NFTs, gala tokens, and more based on their stats and achievements.

People Are Earning Cryptos for Playing Axie Infinity Game 1

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Source: https://e-cryptonews.com/people-are-earning-cryptos-for-playing-axie-infinity-game/

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XRP Lawsuit: Here’s Why Experts Think Ripple Could Win the Case Against SEC

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The XRP lawsuit filed by SEC against Ripple is drawing a near end, and nearly after 9 months of back and forth, experts have weighed in on the possible outcome of the case. The latest development in Ripple vs SEC case saw the defendants file for another seal motion for two exhibits from the Interrogatories Dispute, that the SEC filed under seal in support of its September 8, 2021, letter.

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On the other hand, SEC has also filed to seal 13 key documents that Ripple has demanded, claiming it to be internal documents that cannot be put in the public domain. The biggest point of conflict is with former SEC director William Hinman’s draft speech that claimed Ethereum turned into non-security over time as the network development made it more decentralized. However, SEC claims those comments were made by Hinman in a personal capacity and thus cannot be used by defendants as the ground to dismiss the case.

Legal Experts Claim Ripple Would Win the Case

The SEC’s threat to Coinbase over its unrelated lending product has unified the crypto community against the SEC and also highlighted the flaws of existing security regulations. Jhon E Deaton from CryptoLaw pointed towards the Hinman Speech regarding Ethereum could play in Ripple’s favor.

Charles Gasparino from Fox Business talked to the SEC regarding the logic behind going after XRP but not Ether (ETH), to which the enforcement agency gave quite a vague response. According to Gasparino, SEC claimed Ether had a well-developed ecosystem that was decentralized enough to be deemed as non-security. While Ripple’s infrastructure is still being built, thus the token being used is considered a security.

Gasparino however argued that the timing of the SEC lawsuit calls for scrutiny since the case was filed just days before former SEC chief Jay Clayton’s departure.

XRP proponents even claimed the decision to give Ethereum a free pass from regulatory scrutiny was based on personal gains for SEC executives including Hinman and Clayton. While Ripple has claimed it won’t go for the settlement as it is confident of its chances, the outcome of the case could define the future of crypto regulations in the US.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/xrp-lawsuit-heres-why-experts-think-ripple-could-win-the-case-against-sec/

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Sellers hold the aces in Ethereum Classic’s market, but it might not be game over

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

There hasn’t been much interest from retail traders in Ethereum Classic’s market. As a result, low volatility has kept the price restricted within the channel of $53.8 and $60.6 over the past week and a half. However, ETC has been taking shape within a symmetrical triangle. It presented chances of an incoming price swing.

Considering the current market dynamics, sellers can be expected to tip the scales in their favor, but a bullish argument also seems justifiable. At the time of writing, ETC was valued at $57.7, down by a marginal 0.5% over the last 24 hours.

Ethereum Classic 4-hour Chart

Source: ETC/USD, TradingView

A series of lower highs and higher lows gave rise to a symmetrical triangle on ETC’s 4-hour chart. The pattern was considered bearish in this situation since it took shape right after 7 September’s drawdown. Moreover, sellers would face the easier task of triggering a breakdown from this setup. The daily 20 and 50 Simple Moving Average lines ran bearish as momentum aided the bears.

If the price does break below the lower trendline, a 13% decline would be possible towards the $48-mark. A close under $53.5 would confirm such an outcome.

On the other hand, a few of ETC’s indicators seemed to disagree with such a prediction. If the triangle functions as a reversal pattern, ETC would eye a 7% hike to 8 August’s swing high of $63.4. A close above $59 on relatively stronger volumes would heighten the chances of a bullish prediction.

Reasoning 

A look at ETC’s On Balance Volume painted a rather concerning picture. Based on its recent trajectory, there has been a dearth of buying pressure in the market, with sellers maintaining an advantage. However, a few other indicators seemed to disagree.

Higher lows were observed on the RSI after it recovered from an overbought reading 10 days ago. The index even managed to climb above 60 recently – A sign that the market was strengthening.

Such a trajectory was also seen on the MACD. The index climbed towards the half-line, although momentum was flat over the past few sessions.

Conclusion

As ETC oscillated within a symmetrical triangle, its indicators flashed mixed signals and a breakout in either direction can be expected at this point. Although chances of a downwards move seemed higher, a bullish outcome cannot be discounted.

Traders should keep an eye on the aforementioned levels to get a better understanding of where ETC is heading.

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Source: https://ambcrypto.com/sellers-hold-the-aces-in-ethereum-classics-market-but-it-might-not-be-game-over

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MIOTA Technical Analysis: Trading Above the Support Level of $1.41, Tested the Level Twice Daily

MIOTA Technical Analysis: Trading Above the Support Level of $1.41, Tested the Level Twice Daily

Rate this post MIOTA (IOTA) is a distributed ledger on the proprietary technology which is known as Tangle. There is no fee that has to be paid to the miners because it is not built on blockchain, and it does not require mining. IOTA allows safe and secure transactions which are recorded immutably on the network. Let us look at the technical analysis of IOTA. Past Performance On 11th September 2021, IOTA started trading the day at $1.54 and on 17th September 2021, it closed at $1.74. Thus, in the past week, not much change has been measured in the IOTA price range. In the last 24 hours, IOTA has traded between $1.49-$1.76. https://www.tradingview.com/x/UKThRKwE/ MIOTA Technical Analysis At the time of writing, IOTA is trading at $1.68 and has increased approximately by 12.31% in the past 24 hours. Since 2nd September, IOTA broke out of its long-term resistance and created support at around $1.41 level. This might be an accumulation period as the volume has also increased by almost 200% during the same time, indicating a trend reversal. The MACD is currently completing its bearish crossover after a small pullback to the support level going forward we might see a bullish trend. The lines are above the zero range. Thus, suggesting a buy on this token. The Relative Strength Index has been pulled towards its support zone, near the equilibrium. Thus, indicating the sellers are dominating the market. After this strong accumulation period is over, the price can retest the resistance level. A breakout from that level will indicate a bullish strength. Day-Ahead and Tomorrow  As per the Fibonacci pivot levels, the MIOTA price is trading above the support level of $1.41. It has tested the level twice on the daily chart. And has bounced back from the support level. If the price crosses this level on the downside, traders can short the position with an immediate target of $1.17 and the stop loss at $1.46. On the other hand, if the price bounces back from this support level, traders can take a long position keeping the target at $1.98 followed by $2.12 and the ideal stop-loss level would be $1.77.

The post MIOTA Technical Analysis: Trading Above the Support Level of $1.41, Tested the Level Twice Daily appeared first on Cryptoknowmics-Crypto News and Media Platform.

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MIOTA (IOTA) is a distributed ledger on the proprietary technology which is known as Tangle. There is no fee that has to be paid to the miners because it is not built on blockchain, and it does not require mining. IOTA allows safe and secure transactions which are recorded immutably on the network. Let us look at the technical analysis of IOTA.

Past Performance

On 11th September 2021, IOTA started trading the day at $1.54 and on 17th September 2021, it closed at $1.74. Thus, in the past week, not much change has been measured in the IOTA price range. In the last 24 hours, IOTA has traded between $1.49-$1.76.

TradingView Chart

MIOTA Technical Analysis

At the time of writing, IOTA is trading at $1.68 and has increased approximately by 12.31% in the past 24 hours. Since 2nd September, IOTA broke out of its long-term resistance and created support at around $1.41 level. This might be an accumulation period as the volume has also increased by almost 200% during the same time, indicating a trend reversal.

The MACD is currently completing its bearish crossover after a small pullback to the support level going forward we might see a bullish trend. The lines are above the zero range. Thus, suggesting a buy on this token.

The Relative Strength Index has been pulled towards its support zone, near the equilibrium. Thus, indicating the sellers are dominating the market. After this strong accumulation period is over, the price can retest the resistance level. A breakout from that level will indicate a bullish strength.

Day-Ahead and Tomorrow 

As per the Fibonacci pivot levels, the MIOTA price is trading above the support level of $1.41. It has tested the level twice on the daily chart. And has bounced back from the support level. If the price crosses this level on the downside, traders can short the position with an immediate target of $1.17 and the stop loss at $1.46.

On the other hand, if the price bounces back from this support level, traders can take a long position keeping the target at $1.98 followed by $2.12 and the ideal stop-loss level would be $1.77.

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Source: https://www.cryptoknowmics.com/news/miota-technical-analysis-trading-above-the-support-level-of-1-41-tested-the-level-twice-daily/

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