Connect with us

Ethereum

This Ethereum-Based Gaming Altcoin Is Ready for Massive Rally, Predicts Coin Bureau

Published

on

The pseudonymous host of crypto YouTube channel Coin Bureau says one Ethereum-based gaming altcoin is primed to surge in the coming weeks.

In a new video, the analyst known as Guy tells his 1.62 million YouTube subscribers that The Sandbox (SAND) could become the biggest gaming cryptocurrency on the market.

SAND is the native token for The Sandbox, an Ethereum-based virtual world that allows fans of video games to build, own and monetize their gaming experiences. SAND is the 63rd-ranked crypto asset by market cap, trading at $3.36 at time of writing, up more than 33% in the past seven days.

Advertisement

Guy still thinks the gaming altcoin has room to grow.

“SAND seems to be pretty overextended, but it’s not crashing nearly as quickly as I expected. In fact, it looks like its uptrend is scheduled to continue.

This is for a few reasons: First, NFTs. As I mentioned a few moments ago, NFTs from the Sandbox are some of the most traded of any NFT collection. Many of these purchases are being made in SAND, which creates demand.”

Advertisement

The pseudonymous analyst also notes that SAND’s mid-sized market cap means it will take less cash to push up the price relative to larger metaverse cryptos such as Axie Infinity’s AXS.

Guy also argues that SAND’s tokenomics are “robust.”

“SAND has a maximum supply of 3 billion, its initial and current distribution is solid, and its vesting schedule is evenly spread out.

Advertisement

Now that said, it’s worth pointing out that we are approaching another vesting cliff that’s set to begin in December. This will see another 300 million SAND unlocked and potentially sold on the open market. The last vesting cliff happened back in July and it seems to have suppressed the price of SAND around that time. This means we could see the same thing happen again come December 1st.

Now, even so, SAND’s technicals are looking good, and that’s the fourth reason why it might continue moving to the upside. If my measurements are correct, we could see SAND rally by 2x in the coming weeks, assuming the rest of the crypto market doesn’t crash, of course.”

News Source

Advertisement

Bitcoin

Rich Dad Poor Dad Author Issues Dire Warning on Inflation, Says He’s Buying Bitcoin, Ethereum and Two Additional Assets

Published

on

Rich Dad Poor Dad author Robert Kiyosaki is concerned that working-class Americans will be wiped out by rising inflation unless they invest in several key assets.

In a YouTube video on The Rich Dad Channel, the widely known author says that true capitalism has been abandoned, and the government instead intervenes on behalf of banks.

“The reason they’re talking about inflation or deflation is because, way back when, in the 70s, a true capitalist would let a business fail. According to [Austrian political economist Joseph] Schumpeter, capitalism destroys inefficient companies.

Advertisement

If you look at one example, not too long ago there was Blockbuster Video. Then Netflix came along and they’re toast. They’re just gone. A true capitalist wipes out the inefficient or the obsolete.

But for the last so many years, since 1907 really, they’ve been saving the banks. The banks are so corrupt, and the reason the Federal Reserve had to come in was to protect the rich bankers.

And what they did was, back in 2008 there was quantitative easing, which is a very complex subject, but basically the Fed just prints money and gives it to banks to prevent them from failing. That’s not capitalism, that’s Marxism. That’s socialism, that’s communism. It’s called central banks.”

Advertisement

Kiyosaki warns that unlimited money printing as part of official government policy will eliminate the working class.

“The reason inflation is going to wipe out people is because the average person is a consumer. Everybody talks about, ‘T-bone steak [costs] this now, and gasoline’s this and toilet paper is that.’

That’s because… Everything’s to protect the bankers. And that’s why I feel for the working-class people. I think it’s criminal that our school system is part of Marxism. There’s no financial education in the schools and it’s not a mistake.

Advertisement

To the people who are complaining about inflation, just know it’s because the Federal Reserve Bank, the U.S. Treasury… they’re as corrupt as they come.”

The author tells his 1.8 million followers on Twitter that the recent 25% price increase at discount retail chain Dollar General is a bellwether event signaling that investors should protect themselves by picking up some cryptos like Bitcoin (BTC) and Ethereum (ETH), as well as gold and silver.

“Dollar Tree becomes $1.25 Tree. Inflation is a tax on the poor and middle class. Inflation makes the rich richer.

Advertisement

Get smart. Get richer. I am buying more gold, silver, Bitcoin, Ethereum, rental real estate, and oil. What are you buying?”

CNN Business reported this week that Dollar Tree cited rising inflation and the ongoing supply chain crisis as reasons why it planned to permanently abandon its longstanding $1 price point on all products.

At time of writing, Bitcoin is valued at $55,190, Ethereum is exchanging hands for $4,367, gold is going for $1,781, and silver is worth $22.44. Kiyosaki also issued a warning in September that a major stock market crash would occur in October of this year.

Advertisement

News Source

Continue Reading

Ethereum

Ethereum is a better store of value than Bitcoin, academic research shows

Published

on

  • Recent research conducted by four Australian researchers concludes that Ethereum is a better store of value than Bitcoin.
  • “Ethereum provides better inflationary hedging properties than Bitcoin, and Ether may therefore offer superior long-term value storage than Bitcoin, ” said the report.

Ethereum, the second-largest crypto by market cap, has been tipped by several experts including billionaire investor Mark Cuban, as second to none in terms of utility. Its smart contract has been used to power several blockchain-based projects like Decentralized Finance (DeFi), and Non-Fungible Tokens (NFTs). But in terms of a store of value, there has been a divided opinion among experts as Bitcoin is largely viewed as a better alternative to Ethereum and other cryptocurrencies.

Recent research conducted by four Australian researchers concludes that Ethereum is a better store of value than Bitcoin. According to the research paper, the recent EIP-1559 upgrade in August has been the reason for this conclusion. The EIP-1559 upgrade saw over one million ETH out of the 118,583,580 circulating supply burnt, and a portion of its transaction fees burnt as well.

The report stated: 

Annualizing the rate of Ethereum creation since EIP-1559, the expected increase in the total Ethereum supply is only 0.98%, being less than half the 1.99% increase in Bitcoin supply which is almost certain in the same period.

Roughly 50 percent of the transaction fees of the 12,000 newly minted ETH per day were burnt according to the report. It was further stated that more ETH will be burnt as its robust ecosystem of decentralized finance sees increased demand. 

Advertisement

If Bitcoin is “sound money”, Ethereum is ” Ultra-sound money”

The rampant money printing linked to the COVID-19 pandemic has recently led to higher inflation rising to 6.2 percent in the US by October. Bitcoin has during this period seen higher interest among institutional investors as it is believed to be a perfect hedge against inflation. However, the research states that ETH has a better store of value, and institutions are beginning to choose digital asset for this purpose.  

Ethereum provides better inflationary hedging properties than Bitcoin, and Ether may therefore offer a superior long-term value storage than Bitcoin.

According to Shark Tank investor and now an ambassador for FTX exchange Kevin O’Leary, if Bitcoin is considered as a “Sound Money”, then Ethereum is “UltraSound Money”. 

If Bitcoin is sound money because of the 21 million coin supply ceiling, Ethereum enjoys the same benefit now. It’s ultra sound money because there’s no supply floor […]. Ethereum will be thought of like a traditional business and can be analyzed like one, sort of like using a cash flow model

Nikhil Shamapant, an independent ETH analyst, trader and medical doctor from New York City. He believes that ETH will be inflationary as it will spend most of its movement in the medium term in the inflationary environment. 

Advertisement

News Source

Continue Reading

Ethereum

Ethereum Breaks New Record Amid 13% Rally, Options OI Reaches $7 Billion

Published

on

Ethereum breaks another market prior to end-of-year rally

Ethereum options hit a new all-time high as Ethereum continues to move in the local bullish rally started at the end of November, Wu Blockchain reports.

Contracts open interest spikes

Ethereum options currently remain at the historical peak in open interest that is currently staying at $7 billion. On Dec. 31, almost 700,000 options are going to be delivered with a “bullish” Put/Call ratio of 0.47. The approximate max pain price is $2,500 for the currently open Ethereum contract with expiry on Dec. 31.

Advertisement

Increased options open interest closer to the end of the year is not something new for Ethereum. Ethereum open interest usually spikes near the end of the year as volatility on the cryptocurrency market increases and traders tend to hedge their positions.

What does high open interest tell traders?

Usually, options are utilized as a reflection of current market conditions. Since Ethereum is moving in both short and long-term bullish trends, call (buy) options are prevailing on the market with the majority of traders betting on the asset’s price spike to $5,000.

Advertisement

But while some traders may use options for speculative trading, others utilize them for hedging their positions. By opening put options on values like $4,300, traders hedge their positions in cases of unexpected market volatility.

Ethereum’s previous ATH currently remains at $4,880, and more analysts are expecting the second-largest cryptocurrency on the market to reach the long-awaited milestone by the end of the year when most altcoins have historically reached new highs.

News Source

Advertisement
Continue Reading