The Federal Reserve hiked the funds rate by 25bpBitcoin moved ahead of the decision and found resistance at $29kAn inverse head and shoulders’ neckline might be retestedAll eyes were on the Federal Reserve meeting this week. The tensions in the financial market induced by the failure of several banks in the United States triggered uncertainty about what the Fed would do.Stubbornly high inflation warranted a 50bp rate hike. But the banks are fragile, as seen lately, and such a hike might have done more worse than good.The Fed opted for a 25bp rate hike, a compromise, and now we stand to see the effects.Bitcoin rallied before the Fed’s decision. Earlier in March, it found support at $20k and rallied all the way to $29k without the US dollar moving much.So what is the next possible move for Bitcoin?MediaBitcoin chart by TradingViewA pullback to $24k might be on the cardsTechnical traders might have spotted an inverse head and shoulders pattern forming in the last six months. The 2023 rally is part of the market’s attempt to reverse and head to the measured move, seen in orange above.However, the neckline of such a pattern, seen in black above, is usually retested. This is a test of a bull market; if it holds, the price action will likely move toward the measured move.But will it hold?Those that bought Bitcoin in March might book half profits and move the stop to break even only to see what happens when and if the market hits the neckline at $24k. Because if the support does not hold, more downside might be in the cards.The post Bitcoin fails at $29k – will the Fed meeting’s outcome trigger a selloff? appeared first on CoinJournal.

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Ethereum price moved sideways on Thursday as investors reacted to the latest interest rate decision by the Federal Reserve. It was trading at $1,760, where it has been in the past few days. This price is about 52% above the lowest point this year.Fed decision implicationsThe main catalyst for Ethereum on Thursday was the latest interest rate decision by the Federal Reserve. On Wednesday, as I had predicted here, the Federal Reserve decided to hike interest rates by 0.25%, bringing the main cash rate to 5%, the highest level in more than a decade. In its initial statement, the bank said that some of its officials favored pausing the hiking cycle as they assess the impact of the last increases. That part of the statement was seen as being dovish. However, in his press conference, Jerome Powell warned that the bank still had more room to hike interest rates in the coming months. Stocks and cryptocurrencies rose initially after the statement and then erased gains made earlier on. Stock market futures point to a flat open of the Dow Jones and the S&P 500 index. At the same time, the US dollar index has maintained a bearish trend in the past few days. It has crashed from last year’s high of $115 to $102. In most periods, Ethereum and the US dollar have an inverse relationship. Bitcoin, on the other hand, found resistance at $29,000.Looking ahead, the next key catalyst for Ethereum will be the performance pf highly volatile bank stocks like PacWest and First Republic Bank. The two banks have been highly volatile as investors focus on their outflows. In most cases, Ethereum and Bitcoin are doing better when banking concerns remain since they are seen as safe havens. Ethereum price prediction MediaThe daily chart shows that the ETH price has been in a slow bullish trend in the past few weeks. It managed to move above the key resistance level at $1,771.36, the highest level on February 15. It is also being supported by the 50-day and 100-day exponential moving averages (EMA). Therefore, I am upgrading my Ethereum price estimate to $2,000, which is about 15% above the current level. The stop-loss of this trade with be at $1,600.How to buy EthereumeToroeToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.Buy ETH with eToro today Disclaimer PublicPublic is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.Buy ETH with Public today Disclaimer The post Ethereum Price Prediction: ETH forecast raised to $2,000 appeared first on CoinJournal.

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<strong>Ho Chi Minh City, Vietnam, 22nd March, 2023, Chainwire</strong>Since launching in 2021, Arbitrum has emerged as one of the most promising Layer 2 solutions, with its ability to scale Ethereum and enable faster and cheaper transactions.On March 16, Ethereum Layer 2 scaling solution Arbitrum announced plans to distribute a new governance token, $ARB, to its eligible Arbitrum ecosystem users as part of its transition, noting that the project is “leading the way as the first L2 to launch self-executing governance.”This airdrop, estimated to go live on 23 March, is set to be one of the biggest airdrop in crypto history.KyberSwap was among the protocols whose users bridged to Arbitrum and conducted swaps on the platform, thereby becoming eligible for the $ARB Airdrop.KyberSwap, a leading decentralized exchange (DEX) aggregator and liquidity platform, will launch the first-ever $ARB token liquidity pools, liquidity mining, and trading campaigns on the Arbitrum Chain. These moves mark significant steps forward for KyberSwap, as it will assist to catalyse significant liquidity inflows, thus increasing TVL and provide more earning opportunities in the rapidly growing Arbitrum ecosystem.With the launch of the $ARB liquidity pools, KyberSwap users will now have access to more trading pairs and liquidity options. Liquidity providers will also have more opportunities to earn fees and rewards by adding liquidity to the $ARB pools and participating in liquidity mining programs by KyberSwap.The following ARB pools will be eligible for liquidity mining rewards:<strong>Token Pairs</strong>ARB-ETH (2%)Apr ARB-ETH (5%)ARB-USDT (2%)ARB-USDT (2%)ARB-KNC (5%)An estimated total of 70,000 KNC has been allocated as reward incentives.*Incentives may continue after the designation duration is over; to be confirmed at a later date.<strong>Greater Flexibility with new Fee Tiers</strong>With these highly anticipated yield farms, KyberSwap is introducing new 2% and 5% fee tiers, which exceeds their current highest offering of 1%. These new fee tiers provide opportunities for $ARB farmers to benefit from the anticipated high volatility and trading volume, during the price discovery phase after the airdrop. These pools offer superior returns in addition to the farming rewards, and as a liquidity protocol that has been seamlessly integrated by multiple DEXs and aggregators, KyberSwap is well poised to serve the trading needs of the entire chain not found with other competitors.“We are excited to launch the first ever $ARB liquidity mining pools,” said Victor Tran, CEO and Co-founder of KyberSwap. “These farms will mark the beginning of an extensive Arbitrum-centered campaign KyberSwap has planned, and we will announce more rewards and activities soon for both LPs and traders. Additionally, traders can set their prices to purchase or sell $ARB with our limit order function and swap at the optimised rates with our aggregator.”<strong>Other Arbitrum Yield Farms on KyberSwap</strong>Apart from the upcoming ARB farms, there are other ongoing Arbitrum-based yield farms on <a href="https://kyberswap.com/swap/?utm_source=paid&utm_medium=pr&utm_campaign=kyberswap_arb_farms&utm_content=chainwire">kyberswap.com</a>:Depending on the success of $ARB trading volume, the KyberSwap team is planning additional rewards post-launch for traders and liquidity providers which may include $ARB and $KNC airdrops, and commemorative NFT rewards.According to <a href="https://www.nansen.ai/guides/defi-statistics-in-2022">Nansen</a>, Arbitrum was one of the fastest-growing blockchain in 2022 with more than $1.1 billion locked in its ecosystem and a rapid increase in transactional volume, this layer-two scaling solution gained massive traction during the year.<a href="https://coinjournal.net/wp-content/uploads/2023/03/Aribtrum_Active_Addresses_1_Year_1679393483D43FSyS5IV.jpg">Media</a><a href="https://coinjournal.net/wp-content/uploads/2023/03/Aribtrum_Daily_Transactions_1_Year_1679393495U4ZTbQQLfd.jpg">Media</a><a href="https:…

Arbitrum is transitioning into a DAO.The network’s new ARB token airdrop is now live.The new ARB token is Arbitrum’s governance token.After a number of major cryptocurrency exchanges including Binance, Huobi, Coinbase, and MEXC  promised to list the new Arbitrum ARB token, the token has already been listed on several exchanges just a few hours after the ARB Airdrop went live.The listing comes even as users face issues claiming the new tokens and multiple sites faking the Arbitrum airdrop and causing the chain to lag. However, those eligible for the token airdrop have until September 23, 2023, to claim their tokens.About 625,000 wallet addresses are eligible for the Arbitrum airdrop which will see free distribution. 12.75% (1.275 billion tokens) of the ARB token supply will be distributed in the airdrop.Arbitrum transition into a DAOArbitrum is a layer-2 solution for Ethereum and it has started its decentralization and transformation journey into a decentralized autonomous organization that will enable the holders of the new ARB token to take part in the development of the decentralized network.The Arbitrum One Chain is expected to go live on reaching a block height of 16,890,400, which is some hours from now.Arbitrum transaction surgePrior to the ARB airdrop, the Arbitrum daily transaction count hit a record high.Arbitrum uses Optimistic rollups technology to process transactions faster and cheaper and the daily transactions hit 1,312,052 on Wednesday which is way above the network’s previous peak of 1,103,398 reached on February 21.At the press time, betting in the “I owe you” (IOU) markets tied to the new ARB token showed that the token would trade at around $6 after the airdrop. IOU tokens basically represent a debt between two parties.The post Arbitrum’s ARB token lists on several exchanges as Airdrop goes live appeared first on CoinJournal.

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Key TakeawaysFederal Reserve hikes 25 bps, Bitcoin drops over 6%Bounceback in prices follow, however, as market bets on rate cuts down the lineBitcoin originally fell to $26,700 and is now back at $27,700Tight monetary policy appears to be coming to a close, which is exactly what Bitcoin investors want to hearThe flipside is that Bitcoin’s reputation may have been tarnished by the chaos in the industry over the last yearWhether institutional money and Wall Street capital will trust crypto again remains to be seenAs has been the case over the last year now, <a href="https://coinjournal.net/bitcoin/">Bitcoin</a> continues to oscillate wildly based off interest rate expectations. The orange coin took a tumble Wednesday off the back of the latest FOMC meeting, as interest rates were hiked 25 bps despite some analysts calling for a pause following the banking turmoil of recent weeks. Why did Bitcoin fall?Such has been the chaos in the banking markets, markets ahead of the meeting had priced in a genuine chance that rate hikes would be no more. Silicon Valley Bank (SVB) triggered the crisis, which last week spread to Europe before the spectacular demise of Credit Suisse, the Swiss institution founded in 1856. With deposits fleeing banks and markets reverberating, things were breaking – as they tend to do when rates are hiked hastily. And this past cycle has been the most rapid form of tightening in recent memory. Bitcoin fell from $28,500 to $26,700 as the Fed announced a 25 bps hike, a fall of 6.3%. However, Bitcoin has since bounced back somewhat, trading at $27,600. This came as the market began digesting the discourse from Fed chair Jerome Powell around the future path of interest rates. While the hike did come yesterday, it feels increasingly certain that tight monetary policy is coming to a close. It is worth remembering that before SVB’s demise, this hike was virtually guaranteed to be 50 bps. And looking out to rates by the end of July, the market is forecasting cuts rather than hikes. So while the 25 bps hike may have been hawkish, the language afterwards and conclusion coming out of the meeting was very much the opposite. Will Bitcoin go up?The question on everybody’s lips within crypto is then what does this mean for Bitcoin’s price? As always, it’s a difficult question to answer, but the future undoubtedly looks brighter for the coin today than it did a few months ago, that is for certain. Not only is further removed from the <a href="https://coinjournal.net/news/ftx-insolvent-what-next-for-crypto/">scandal of FTX</a> and the wave of bankruptcies that followed the sordid collapse of the former tier-1 exchange, but the end appears nigh with regard to the tight monetary policy. Bitcoin was launched in 2009 and hence had never experienced anything other than a raging bull market in the wider economy. The S&P 500 increased seven-fold from the nadir of the GFC to its peak – and Bitcoin, alongside tech stocks, rode the wave of low interest rates, warm money printer and an all-around perfect climate. As inflation roared last year, however, this flipped entirely. With interest rates hiked aggressively, there was no way for Bitcoin to sustain its previous levels of buoyancy. Down it came, and down it came hard. Finally, it appears that the harsh monetary policy which has dragged it through the gutter is nearing an end. And while this doesn’t guarantee anything, it certainly removes the shackles so that there is at least a possibility that it raises. Has Bitcoin’s image been tarnished?The flip side of the argument is that the scale of the damage over the last year has been so substantial that Bitcoin’s long-term trajectory has been dampened, and it won’t be able to get on the same track. Crypto winters have come and gone in the past, but this recent one coincided, like we said, with a rout in the wider economy for the first time ever. It also came while Bitcoin was a mainstream financial asset – something which wasn’t true in previous cycles. Collapses like FTX, LUNA and Celsius…

Terra LUNA crashed last year following the collapse of its Terra UST stablecoin project.The crash was followed by a hard fork where the current Terra LUNA token was created.There is news that Terra LUNA’s founder Do Kwon has been arrested.Terra (LUNA) price has dropped by about 7% after news of the arrest of the founder of Terraform Labs, Do Kwon, surfaced. At press time, LUNA was trading at $1.31.There are reports that Do Kwon was arrested in Montenegro; something that has been confirmed by Montenegro’s minister of interior Filip Adzic through a post on Twitter.U PODGORICI UHAPŠEN JEDAN OD NAJTRAŽENIJIH SVJETSKIH BJEGUNACACrnogrska policija lišila je slobode lice za koje se sumnja da je jedan od najtraženijih bjegunaca, južnokorejski državljanin Do Kwon, suosnivač i izvršni direktor Terraform Labs sa sjedištem u Singapuru.
1/2— Filip Adzic (@filip_adzic) March 23, 2023A translation of the tweet reads:“Montenegrin police have detained a person suspected of being one of the most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs.”According to Adzic, Do Kwon was arrested at the Podgorica airport with falsified documents. The minister however said that he was “still waiting for official confirmation of identity.”Several authorities were looking for Do KownDo Kwon was the target of a number of investigation bodies around the globe and was even on Interpol’s red notice after the implosion of the TerraUSD (UST) stablecoin and the $40 billion Terra LUNA ecosystem last year.The implosion of the Terra LUNA collapse sent shockwaves across the crypto market causing a number of other crypto projects to come down.The post LUNA falls sharply on Do Kwon’s arrest allegations appeared first on CoinJournal.

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This Next Level Blockchain Gaming Project is ready to take offAbout the BOUNTYKINDS NFT PUBLIC SALEBOUNTYKINDS is a Web3 Metaverse game currently under development and is scheduled for official release this year on the Binance Chain, with its Alpha Test release this coming April, and its Beta Test release that follows soon after. Due to the efforts of its development team, BOUNTYKINDS will be available on the mainnet for all Alpha test ticket holders, paving way for more players to be able to join the testing phase. To celebrate this, BOUNTYKINDS will be holding a <a href="https://go.bountykinds.com/press2">second Public Sale</a> as a love letter to their community who has been supportive since the initial stages of its project. This public sale will start from March 23, 2023 (9:00 AM UTC) and will last for almost a week, until March 29, 2023 (9:00 AM UTC). It will be selling exclusive package deals that consist of special upgraded Character and Weapon NFTs – special early bird rewards, energy token benefits, and much more awaits those who will purchase their <a href="https://coinjournal.net/nfts/buy/">NFTs</a> during this special sale and join during the start of our official Alpha test release.BOUNTYKINDS as a GameBrought to inception by a team of players who see that there is room for improvement with the current state of Play-to-Earn blockchain gaming, BOUNTYKINDS will be a game built on the premise of creating a world where players can keep on having fun while grinding to obtain different characters and weapons, to the point where they would keep on wanting to immerse in the game’s engaging open-world environment.The game itself will consist of multiple game genres such as all-time classics like board games, map adventure games, fan-favorites such as role-playing games (RPG) or in-demand games such as first-person shooting (FPS) games or battle royale MOBA games. These games and its areas will be determined by both players and developers, heavily putting emphasis on the “Contribute-to-Earn”, the main philosophy the project is promising to uphold with its triple token system. The main tokens that will sustain its blockchain gaming ecosystem are the following: the governance token BOUNTYKINDS World DAO ($BKWD); the utility token, ($YU); and the Forbidden Fruit Energy token ($FFE). The latter two tokens are both listed on multiple platforms and are currently available for swapping on the <a href="https://go.bountykinds.com/press1">BOUNTYKINDS Official Website</a> or token platforms such as <a href="https://coinjournal.net/pancakeswap/">PancakeSwap</a>.The BOUNTYKINDS universe is going to be dictated by this unique achievement system where all contributions to the game would be quantified and scaled to a number. This number will decide the intricate reward values that come with playing the game. The goal of BOUNTYKINDS lies in bringing gamers from various cultures together, regardless of whether they are in the real world or in the blockchain space.This is the last chance to get your hands on these one-of-a-kind NFTs before the start of the Alpha test, so make sure you don’t miss out on this!BOUNTYKINDS Public Sale NFT Package List1) Blue Character Sphere ×3 & Blue Weapon Sphere×3 & 1 α-ticket +100FFE(Energy token)2) Blue Character Sphere & Blue Weapon Sphere3) Blue Character Sphere & Yellow Weapon Sphere4) Blue Character Sphere & Green Weapon Sphere5) Blue Character Sphere ×3Game Necessity: The Alpha TicketAlpha Tickets are like your key to the game – without it, you cannot start the BOUNTYKINDS gaming experience. Those who do not possess an alpha ticket must wait till the Beta phase or the official release of the game, or else they won’t be able to use the Character NFTs they possess. As one of the many alpha player perks, those joining the alpha version get to benefit from the higher quest rewards and better item drops.Game Essential: Character SphereSpheres are GACHA item NFTs unique to the BOUNTYKINDS universe. These spheres can conjure Character NFTs and Weapon NFTs…

2023 could be the year that GameFi really starts to take off. More and more exciting GameFi projects are joining the space as the traditional gaming industry looks destined to change forever.The best GameFi projects deliver integrated financial rewards to players across various genres. For anyone looking to invest in blockchain gaming for the long term, here are 12 of the very best projects that the sector has to offer:Metacade (MCADE)Stepn (GMT)Illuvium (ILV)ApeCoin (APE)Decentraland (MANA)Axie Infinity (AXS)Yield Guild Games (YGGThe Sandbox (SAND)My Neighbour Alice (ALICE)Game of Silks (SILKS)Splinterlands (SPS)AltSignals (ASI)1. Metacade (MCADE)What is MCADE?<a href="https://metacade.co/en/?utm_source=media">Metacade</a> will contain the broadest selection of blockchain gaming experiences in Web3, as the new GameFi project will be home to many different play-to-earn games. Unlike traditional online games, Metacade allows anyone to earn in-game rewards while having fun and competing online.There is a wide variety of titles available in this metaverse arcade, combining casual and competitive gameplay. This is a truly comprehensive GameFi experience. By offering advanced incentive structures and displaying the latest trends in blockchain gaming, the project aims to become a central hub for Web3 users.Metacade’s Create2Earn feature will reward content creators with MCADE tokens for their contributions to the community. This can include posting game reviews, sharing alpha and in game assets, and interacting with other members’ posts.As well as this, Metacade will advertise open positions at some of Web3’s hottest start-ups. This allows crypto enthusiasts to kickstart a career in Web3, as Metacade’s Work2Earn feature is designed to expand the blockchain workforce, which can help to boost the overall level of innovation in the sector over time.Metacade’s Metagrants program is also specially designed to help drive GameFi forwards. The community can vote to decide which new blockchain games are best before the project provides funding to the development team. This helps to ensure that the best GameFi projects can develop and reach the market.Why consider buying MCADE?The MCADE token has just launched during a presale event. The MCADE presale has been a huge success so far, as the project has raised $12.9m in 17 weeks since the beginning of the event.MCADE’s presale success is a testament to its attractive offering, since blockchain gamers worldwide can access a broad platform that offers generous cryptocurrency rewards. Web3 games typically offer only one gameplay option, but Metacade offers many.For now, the price of MCADE is just $0.02 and it’s in the final stage of the presale before listing on exchanges. Experts are forecasting significant gains for the new token, as its unique offering within Web3 could lead to it becoming one of the best GameFi projects in the space. >>> You can participate in the Metacade final stage presale <a href="https://metacade.co/en/?utm_source=media">here</a> <<<2. STEPN (GMT)What is GMT?STEPN is an innovative move-to-earn ecosystem that allows consumers to earn rewards for completing steps on the StepN platform. StepN’s innovative reward system does not require any monetary contribution from its users and requires only a few seconds of effort to complete each step.STEPN’s revolutionary incentive model generated significant interest when the STEPN token was first launched in 2022. The platform benefits its users with real-time financial rewards for something they do every day.Using STEPN, users can move faster and travel less than with traditional systems, allowing them to maximize their profits with minimal effort. StepN is quickly becoming the industry leader, altering blockchain gaming’s <a href="https://www.forbes.com/sites/tatianakoffman/2021/09/29/play-to-earn-the-new-crypto-paradigm-redefining-the-future-of-work/?sh=1619097a45f5">play to earn model</a> to incorporate new social use cases.Why buy GMT?GMT is just one year old, yet it has already…

<strong>Ho Chi Minh City, Vietnam, 22nd March, 2023, Chainwire</strong>Since launching in 2021, Arbitrum has emerged as one of the most promising Layer 2 solutions, with its ability to scale Ethereum and enable faster and cheaper transactions.On March 16, Ethereum Layer 2 scaling solution Arbitrum announced plans to distribute a new governance token, $ARB, to its eligible Arbitrum ecosystem users as part of its transition, noting that the project is “leading the way as the first L2 to launch self-executing governance.”This airdrop, estimated to go live on 23 March, is set to be one of the biggest airdrop in crypto history.KyberSwap was among the protocols whose users bridged to Arbitrum and conducted swaps on the platform, thereby becoming eligible for the $ARB Airdrop.KyberSwap, a leading decentralized exchange (DEX) aggregator and liquidity platform, will launch the first-ever $ARB token liquidity pools, liquidity mining, and trading campaigns on the Arbitrum Chain. These moves mark significant steps forward for KyberSwap, as it will assist to catalyse significant liquidity inflows, thus increasing TVL and provide more earning opportunities in the rapidly growing Arbitrum ecosystem.With the launch of the $ARB liquidity pools, KyberSwap users will now have access to more trading pairs and liquidity options. Liquidity providers will also have more opportunities to earn fees and rewards by adding liquidity to the $ARB pools and participating in liquidity mining programs by KyberSwap.The following ARB pools will be eligible for liquidity mining rewards:<strong>Token Pairs</strong>ARB-ETH (2%)Apr ARB-ETH (5%)ARB-USDT (2%)ARB-USDT (2%)ARB-KNC (5%)An estimated total of 70,000 KNC has been allocated as reward incentives.*Incentives may continue after the designation duration is over; to be confirmed at a later date.<strong>Greater Flexibility with new Fee Tiers</strong>With these highly anticipated yield farms, KyberSwap is introducing new 2% and 5% fee tiers, which exceeds their current highest offering of 1%. These new fee tiers provide opportunities for $ARB farmers to benefit from the anticipated high volatility and trading volume, during the price discovery phase after the airdrop. These pools offer superior returns in addition to the farming rewards, and as a liquidity protocol that has been seamlessly integrated by multiple DEXs and aggregators, KyberSwap is well poised to serve the trading needs of the entire chain not found with other competitors.“We are excited to launch the first ever $ARB liquidity mining pools,” said Victor Tran, CEO and Co-founder of KyberSwap. “These farms will mark the beginning of an extensive Arbitrum-centered campaign KyberSwap has planned, and we will announce more rewards and activities soon for both LPs and traders. Additionally, traders can set their prices to purchase or sell $ARB with our limit order function and swap at the optimised rates with our aggregator.”<strong>Other Arbitrum Yield Farms on KyberSwap</strong>Apart from the upcoming ARB farms, there are other ongoing Arbitrum-based yield farms on <a href="https://kyberswap.com/swap/?utm_source=paid&utm_medium=pr&utm_campaign=kyberswap_arb_farms&utm_content=chainwire">kyberswap.com</a>:Depending on the success of $ARB trading volume, the KyberSwap team is planning additional rewards post-launch for traders and liquidity providers which may include $ARB and $KNC airdrops, and commemorative NFT rewards.According to <a href="https://www.nansen.ai/guides/defi-statistics-in-2022">Nansen</a>, Arbitrum was one of the fastest-growing blockchain in 2022 with more than $1.1 billion locked in its ecosystem and a rapid increase in transactional volume, this layer-two scaling solution gained massive traction during the year.<a href="https://coinjournal.net/wp-content/uploads/2023/03/Aribtrum_Active_Addresses_1_Year_1679393483D43FSyS5IV.jpg">Media</a><a href="https://coinjournal.net/wp-content/uploads/2023/03/Aribtrum_Daily_Transactions_1_Year_1679393495U4ZTbQQLfd.jpg">Media</a><a href="https:…

BNB Chain is the world’s largest smart contract blockchain in terms of daily active users.It is conducting an online Bootcamp-Hackathon-Incubator program running for six months.The blockchain has launched the second phase of the programBNB Chain has launched Zero2Hero Hackathon, the second phase of its online Bootcamp-Hackathon-Incubator program that started its initial phase in February and focuses on accelerating Web3 development.The Zero2Hero hackathon will run from April 17 to May 14. It has support from Google Cloud, Tencent Cloud, and Amazon Web Services (AWS).The Zero2Hero HackathonThe hackathon will feature seven tracks: Infra & Scalability, DeFi, Cross-chain, NFT, Gamify & Metaverse, SocialFi, Innovation, and Greenfeld.The first, second, and third positions will be rewarded $15K, 6K, and $4K respectively. In addition, the 1st place winner for each track will get a ticket to the incubator program giving them more exposure.The hackathon will provide nearly 20 technical workshops allowing hackers to learn the latest technologies. Hackers will also have free access to dev resources like node and cloud services. Advancing the blockchain industryThe Zero2Hero Hackathon aims at bringing together blockchain developers and professionals from around the world to cooperate on solutions and projects that will help advance the blockchain industry.Commenting about the hackathon, the head of developer relations at BNB Chain said:“As part of the 6-month Builder Series, the Zero2Hero Hackathon is an exciting opportunity for developers to showcase their skills and compete with the best in the industry. With the support of our strategic technology partners, including AWS, Google Cloud and Tencent Cloud, as well as our Web3 partners such as Chainlink Labs and Axelar, we are excited to bring together a community of talented developers and innovative projects.”BNB Chain has been at the forefront of advancing Web3 solutions and it has partnered with several leading companies. For example, it has partnered with Chainlink Labs as the official Oracle Partner, Automata Network as the official Privacy Partner, Tea as the official Dev Tool, RSS3 as the official On-chain & off-chain Social Content Aggregator, PolyhedraZK as the official Infrastructure Provider and Nodereal as the official Node Provider. Other are Axelar, Port3, and Polyhedra which are supporting BNB Chain’s Cross-chain project.The post BNB Chain launches phase 2 of its online Bootcamp-Hackathon-Incubator program appeared first on CoinJournal.

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Pooky’s Play-and-Earn game offers an immersive gameplay and a sustainable token rewards ecosystem.The full version of the game went live on 23 March.Players can win from a prize pool of 500 MATIC on each matchday in a promotion celebrating the launch.Pooky, a sports prediction app powered by blockchain technology, has officially launched the full release of its Play-and-Earn game.The game went live today, 23 March 2023 offering a sustainable tokenomics design and several other enhanced features, the Spooky team said in a press release on Thursday. Players can now benefit from a robust in-game economy that rewards achievement, while a free-to-play version remains available and will help users win free promotions to the play-and-earn version.Play with Pookyball NFTs and earn rewardsPooky offers an immersive gaming ecosystem unveiled in September 2022. The Spooky platform was co-founded by two brothers – Claudio and Stefano Riff. The game designer is a former Splinterlands developer Alfred Vesligaj, while former head of product at The Sandbox, Damian Volatino, is the Lead Product Designer.According to the team, Pooky’s full launch comes after a four-month beta program that saw players make over 700,000 predictions. During the period, Pooky recorded 7,000 recurring users and its first 1,000 Genesis Pookyball NFTs sold out before the game went live.To win in the game, players use their Pookyball NFTs, competing against each other to predict football match results. A player then gets rewarded depending on their skill level and overall rank in terms ofAs part of the promotion for the launch of the Play-and-Earn version, Pooky is offering a prize pool per matchday prediction. The top 50% in each category will share a minimum prize pool of 500 MATIC per matchday. The community can also mint Pookyball NFTs on the Pooky NFT marketplace.The startup raised over €3 million during its pre-seed funding round, with backers including VC firm Claster Investments.The post Sports prediction app ‘Pooky’ launches its Play-and-Earn game appeared first on CoinJournal.

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The Bitcoin price experienced a drastic downward movement in the early morning hours of March 3, causing it to drop to around $22,000 in a very short time.This confirmed one forecast in particular: namely the forecast that the Bitcoin course was about to make a directional decision. The cryptocurrency has trended about 4 percent weaker over the past 24 hours of trading, marking the biggest bitcoin sell-off so far this year. An event that many investors could not count on.While this should hardly change anything in the strategy for professional investors, it is somewhat different for new investors: For new investors in the crypto market,<a href="https://depotstudent.de/bitcoin-anteile-kaufen-so-kaufst-du-bruchstuecke-und-halbe-bitcoins/"> Bitcoin shares</a> are recommended for entry instead of investing larger amounts of money with whole Bitcoins.Brief overview of the latest developmentsOver $62 million in long BTC positions were liquidated in a matter of hours.This was the third liquidation cascade within the last 12 months: after the Terra crash and the FTX bankruptcy in 2022.How to proceed now? Forecasts are extremely difficult. Some talk of a clear oversell, which should level off again. On the other hand: Negative funding rates currently give the buyer camp a high incentive for a new entry into Bitcoin.A temporary price recovery is expected by many investors and the positive signs on the US stock market shortly after this Bitcoin crash underline this scenario.Overall, the situation for the Bitcoin course will remain uncertain in the coming weeks and months. Analysts see both positives and negatives that can affect price. Investors should therefore follow developments closely and adjust their investment decisions accordingly.Correction with a short shock?Despite the recent price correction and negative headlines, the fundamentals of the Bitcoin network remain stable. Network activity shows that the hash rate, which measures the total computing power on the proof-of-work network, continues to rise.The hash rate has almost doubled since November 2021, although the price has fallen significantly over the same period of time. The number of active addresses on the Bitcoin network has also increased despite the current market situation, indicating growing demand and usage.Fundamental data as the most important variable? The positive fundamental metrics of the bitcoin network could soon push the price higher again. Also, the negative impact of the Silvergate issues may be limited as the crypto bank is rather small and its impact on the overall market should be limited.The bitcoin options market has also calmed down somewhat, meaning there is less risk of panic selling or massive liquidations.In addition, there are other signs that Bitcoin could rise again soon. An important factor is the high demand for Bitcoin ETFs, which has been growing steadily since their launch in October 2021. Institutional investors are also showing increased interest in Bitcoin, which is reflected in the increasing volumes in the futures markets.How can Bitcoin investors behave in phases of unpredictable developments?Below are some approaches that investors can pursue in such phases.Diversification: Bitcoin investors should diversify their portfolio to protect against unpredictable developments in the cryptocurrency market. Diversification can be achieved by buying different cryptocurrencies such as Bitcoin, Ethereum, as well as stocks and other asset classes.A stop-loss order can help minimize the risk of loss by automatically triggering the sale of bitcoins whenever the price falls below a certain value. However, a stop-loss order cannot guarantee that the sale will occur at the desired price – at least in the case of strong market movements or high volatility.Those who use technical analysis can also spot patterns and make decisions: Thorough technical analysis can help identify market sentiment and make informed decisions about buying and selling bitcoins. Key support and resistance levels are i…

Hindenburg Research reveals a short position in Block Inc.Block says it’s exploring legal action against the short seller.Wall Street has a consensus overweight rating on Block shares.Shares of Block Inc are trading 15% down on Thursday after Hindenburg Research revealed to have taken a short position in the financial technology company.Hindenburg’s reasons for short selling BlockHindenburg says the multinational conglomerate has an enormous number of fake or duplicate accounts at its celebrated Cash App platform.More alarmingly, its research that spanned over two years alleges many of those accounts to be involved in criminal activities, including sex trafficking. The report reads:Block has misled investors on key metrics and embraced predatory offerings and compliance worst-practices to fuel growth and profit from facilitation of fraud against consumers and government.In February, Block said its monthly active users went up 16% year-on-year to 51 million in December. Its shares are slightly in the red for the year following the price action today.Block to take legal action against HindenburgHindenburg also took and issue with the fact that top executives, including CEO Jack Dorsey has sold more than $1.0 billion worth of the company shares to benefit from the pandemic-driven rally.In response, Block Inc, on Thursday, reiterated that it’s a highly regulated public company and revealed plans of taking legal action against the short seller.We intend to work with SEC and explore legal action against Hindenburg for the factually inaccurate and misleading report they shared about our Cash App business today.Wall Street seems to disagree with Hindenburg as well. Its consensus overweight rating on “SQ” is coupled with an average price target of $98 – up 60% from here.The post Block shares down as Hindenburg takes aim at the crypto company appeared first on CoinJournal.

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<a href="https://coinjournal.net/price/">Cryptocurrency prices</a> had a relatively strong performance this week even as the banking crisis escalated. <a href="https://coinjournal.net/bitcoin/">Bitcoin</a> rose to a high of $29,000 for the first time in months while Ethereum sits comfortably above $1,800. The total market cap of all cryptocurrencies jumped to over $1.17 trillion. This coin price prediction article will look at popular altcoins like OAX, Mask Network, and Arbitrum.OAX price predictionOAX price was one of the best-performing cryptocurrencies this week as it jumped to the highest level since April 2021. The token has jumped by over 283% from the lowest level this year and over 500% from last year’s low. The main catalyst for this week’s jump was the decision by Binance to list the OAX.USDT pair in its platform.<a href="https://twitter.com/OAX_Foundation/status/1639121550430580739">https://twitter.com/OAX_Foundation/status/1639121550430580739</a>The daily chart shows that OAX has gone parabolic in the past few days. As it rose, the token managed to move above the key resistance at $0.3853, the highest point on February 20th. It has jumped above all moving averages. The token also rose above the key point at $0.3275 (November 30 high).Therefore, the token will likely drop during the weekend as the bullish momentum fades and as investors start to take profits. If this happens, the key level to watch will be at $0.385 followed by $0.3275. The latter is about 26% below the current level.<a href="https://media.igms.io/2023/02/24/1679660757828-eb600f87-7c51-48ae-83a7-e212e937f796.png">Media</a>How to buy OAXSwapzoneSwapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.<a href="/visit/swapzone-crypto?guid=MTM2MDkx&component=simple-table&language=en&country=US&state=VA&position=1&totalPositions=1">Buy oax with Swapzone today</a>Mask Network price predictionMask Network was one of the top-performing cryptocurrencies. This performance happened as the developers received 257k tokens from Arbitrum, the second-biggest layer-2 smart contract platform in the world. The allocation happened because Mask had been one of the top promoters of Arbitrum.On the daily chart, the MASK token has been in a strong bullish trend this year. It cruised above the key resistance at $5.41, the highest point on February 3rd. It also jumped above $5.94 (November 3 high). The token has also jumped above all moving averages. It also seems like it is forming a small double-top pattern at $6.86. Therefore, MASK crypto price will likely retreat during the weekend as holders start to take profits. If this happens, the token will likely drop and retest the support at $5.<a href="https://media.igms.io/2023/02/24/1679660757827-e4057477-5adc-4180-a2e4-433e933186c4.png">Media</a>How to buy Mask NetworkBinance.USBinance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.<a href="/visit/binance-us-crypto?guid=MTM2MDkx&component=simple-table&language=en&country=US&state=VA&position=1&totalPositions=2">Buy MASK with Binance.US today</a>KuCoinKucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.<a href="/visit/kucoin-crypto?guid=MTM2MDkx&component=simple-table&language=en&country=US&state=VA&position=2&totalPositions=2">Buy MASK with KuCoin today</a>Arbitrum price forecastThe biggest <a href="https://coinjournal.net/news/">crypto news</a><strong> </strong>was Arbitrum’s airdrop that launched the ARB token. The token jumped sharply…

Denmark, Copenhagen, 24th March, 2023, ChainwireNarwhal Finance Secures $1M in Seed Funding Led by Animoca VenturesNarwhal Finance, the decentralized cross-market perpetual trading platform built on BNB Chain and Arbitrum, announced a $1 million seed round funding led by Animoca Ventures, with participation from Hailstone Ventures and various angel investors.Narwhal Finance empowers users to engage in leveraged trading across an extensive array of pairs, including crypto, forex, indexes, and stocks, with leverages up to 1000x. Through its copy trading function, users can seamlessly follow top traders, earn substantial profits even with limited market knowledge, and enjoy an exceptional trading experience.With the vision of becoming the #1 decentralized cross-market trading platform, Narwhal Finance combines the best of DEX experience and social trading to offer users full transparency, confidence, and an effortless trading experience.“We are thrilled to have received such strong support from our investors in this seed funding round,” said Coco, Lead Developer of Narwhal Finance. “This funding will enable us to execute our vision of providing an exceptional decentralized leveraged trading platform accessible to all. We are grateful for the opportunity to bring our innovative solution to the market and are excited for what the future holds.”As a leading investor in the blockchain industry, Animoca Ventures recognizes Narwhal’s potential to disrupt the decentralized perpetual space. “We are excited to support Narwhal Finance’s journey to revolutionize decentralized leveraged trading,” said James Ho, Head of Animoca Ventures. “We believe that the team’s expertise, combined with the platform’s innovative technology, can potentially disrupt the decentralized perpetual trading space. We see tremendous potential in this partnership and look forward to supporting Narwhal Finance as it grows and innovates.”About Narwhal FinanceNarwhal Finance is a cross-market decentralized perpetual exchange that offers a unique solution for social trading by enabling leveraged trading of all asset classes through synthetic assets. Liquidity providers on Narwhal earn a yield from trading fees and top traders’ performance, making it a profitable opportunity for all parties involved.For more information or media inquiries, please contact marketing@narwhal.finance.ContactNarwhal Marketing, marketing@narwhal.financeThe post Narwhal Finance Secures $1M in Seed Funding Led by Animoca Ventures appeared first on CoinJournal.

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Key TakeawaysCoinbase was issued with a Wells notice this week and now awaits formal charges from the SECRegulators continue to move in on US crypto companies, hurting Coinbase’s prospectsThe exchange laid off its second round of employees in January, shut down activities in Japan due to “market conditions”, and saw its share price plummet throughout 2022<a href="https://coinjournal.net/news/tag/coinbase/">Coinbase</a> just can’t catch a break. I wrote a <a href="https://coinjournal.net/news/what-is-wrong-with-coinbase-ceo-selling-2-of-stake-a-deep-dive/">deep dive</a> on the struggling crypto exchange last October, when founder and CEO Brian Armstrong sold 2% of its stake. But things have only gotten worse since then. It laid off 20% of its workers in January (I analysed what this meant for the company <a href="https://coinjournal.net/news/what-is-happening-at-coinbase-another-20-of-employees-laid-off/">here</a>), six months after it had already cut 18%. It also <a href="https://coinjournal.net/news/coinbase-terminates-japan-operations-why-is-share-price-still-up-50-in-two-weeks/">terminated</a> its Japanese operations in January, citing “market conditions”. Despite this, the stock had been rebounding in 2023 as a softer forecast of the future path of interest rates was benefitting the tech sector at large. And then, the SEC waded in to end the party this week. 1/ Today Coinbase received a Wells notice from the SEC focused on staking and asset listings. A Wells notice typically precedes an enforcement action.— Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1638654192138199041?ref_src=twsrc%5Etfw">March 22, 2023</a>SEC alleges Coinbase is violating securities lawThe SEC issued Coinbase a Wells notice, warning that it was potentially violating US securities law. The share price has fallen 24% in the two days since.  “Based on discussions with the Staff, the Company believes these potential enforcement actions would relate to aspects of the Company’s spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet,” Coinbase said in a regulatory filing. “The potential civil action may seek injunctive relief, disgorgement, and civil penalties.”The market now awaits the exact charges becuase a Wells notice, as Armstrong noted in his tweet above, typically precedes legal action. Coinbase chief legal officer Paul Grewal also waded in, noting that Coinbase was confident in the face of the charges. “Although we don’t take this development lightly, we are very confident in the way we run our business – the same business we presented to the SEC in order for us to become a public company in 2021,” he posted. Regulatory environment continues to worsen for cryptoDespite Coinbase’s defiance, at least in public, the reality is that this marks just the latest move by US regulators to clamp down on crypto. Recent months have seen the dramatic shutdown of the Binance-branded stablecoin BUSD, a top 10 cryptocurrency, a fine for leading exchange Kraken relating to disclosures around its staking problem, and now this Wells notice for Coinbase. Then there is the banking turmoil. While not caused by crypto, the shutdown of SVB, Silvergate and Signature means the main crypto banks have evaporated into thin air. That starves the industry of vital fiat on-ramp and is an unquestioned headwind going forward. Whether you view any of the above as unfair or not, the bottom line for Coinbase is that the country in which it is headquartered, the United States, is a significantly more hostile environment for the crypto industry than it was a few months ago. That is obviously bad news for investors, and for the business as a whole. What happens next?Going forward, it is hard to know what will happen. It does appear, however, as if regulators are intent to rein crypto in after the series of scandals that shook the market (and caused billions of losses for customers) last year, including LUNA, Celsius and most recently FTX. Before this latest move, the Coinbase…

Coinbase disclosed a Wells Notice from the US Securities and Exchange Commission (SEC).A Wells Notice usually comes before an enforcement action.Coinbase CEO Brian Armstrong says the company isn’t surprised with the SEC’s move.Coinbase CEO Brian Armstrong has commented on the company’s announcement that it had received a Wells Notice from the US Securities and Exchange Commission (SEC), saying via Twitter Spaces that the exchange wasn’t entirely surprised at the regulator’s action.Coinbase had 30 meetings with SEC, without feedbackAs reported on CNBC on Friday morning, Armstrong and other executives say they had engaged with the SEC before.“Over a series of 30 meetings in the last nine months, we met with the SEC and shared details of the business and answered every question,” the Coinbase CEO said.According to Armstrong, Coinbase spent millions of dollars in legal fees as they tried to explain everything about its business, including digital asset listings and staking rewards. He added that the SEC did not provide feedback over the nine months, noting that the agency cancelled, at the last minute, a meeting it had set up for that purpose.“That was the first feedback we got in 30 meetings. The day before that meeting they cancelled the meeting [and] we didn’t know why. And then a few weeks later – boom, we get served with the Wells Notice,” he added.On Thursday, Armstrong tweeted that the SEC reviewed Coinbase’s business and approved its IPO. Coinbase stock plummets The Wells Notice is a signal that the securities regulator is considering enforcement action against the largest US-based cryptocurrency exchange. Accordingly, investor reaction to the news saw the publicly-listed company’s shares plunge to lows of $61.87.The Coinbase stock was down nearly 15% over the past five days.The post Coinbase CEO says SEC’s notice wasn’t entirely unexpected appeared first on CoinJournal.

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Key takeawaysNASDAQ said custody is the first step in its digital asset push.The stock exchange operator plans to launch its crypto custody service before the end of next quarter.More traditional financial institutions are making a push into the cryptocurrency space.NASDAQ’s crypto custody service will launch next quarterNasdaq Inc. is planning to launch its custody services for digital assets by the end of the second quarter of 2022. This latest development is according to a report by Bloomberg on Friday.The stock exchange market operator joins a host of other traditional financial firms that are making their way into the cryptocurrency space. According to the report, NASDAQ is pushing ahead to get the necessary technical infrastructure and regulatory approvals in place.Ira Auerbach, senior vice president and head of Nasdaq Digital Assets, revealed this during an interview in Paris. The NASDAQ exec added that the firm has applied to the New York Department of Financial Services for a limited-purpose trust company charter, a licence that would allow it to oversee the business. This latest cryptocurrency news comes after the firm revealed its intention to enter the crypto space. In September 2022, NASDAQ announced that it would offer custody services for Bitcoin (BTC) and Ether (ETH) to institutional investors.The firm went ahead to hire Ira Auerbach, a former Gemini employee, to head the new Nasdaq Digital Assets unitMore financial institutions could enter the crypto market soonThe recent collapse of Silvergate and Signature banks has left a space in the cryptocurrency space, and experts believe more traditional financial companies, such as NASDAQ, could enter to fill the gap. NASDAQ’s entry into the cryptocurrency space could prove a positive signal for mainstream cryptocurrency adoption, a situation that could help attract more companies to the market. The post NASDAQ to launch its crypto custody services by the end of Q2: Bloomberg appeared first on CoinJournal.

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Aptos Labs has partnered with NBCUniversal’s Universal Pictures to release a Web3 game for the Dracula movie Renfield.Players stand a chance to win several prizes, including digital collectibles.Renfield will be released in theaters on 14 April 2023.Layer 1 blockchain platform Aptos has announced a new Web3 game based on the “Renfield”, a horror-comedy starring Nicholas Cage and Nicholas Hoult.The Hollywood venture for Aptos comes as part of a collaboration with NBCUniversal, the parent company of Universal Pictures, the Aptos Labs team revealed on Friday.Aptos goes to Hollywood 😎We're bringing movies to the Web3 era with FREE RENFIELD The Game, based on the horror-comedy Renfield!🧛🎮 We joined forces with @NBCUniversal to pull fans deeper into Dracula’s universe.Cinema magic meets Web3 innovation – brought to life by… pic.twitter.com/74M4rEhmSQ— Aptos (@Aptos_Network) March 24, 2023Renfield the Web3 game is on AptosRenfield is a vampire-themed movie that has Nicholas Cage starring as the centuries-long Count Dracula, and Aptos’ game offers players a chance for an immersive experience into the vampire’s universe, with a chance to win various prizes.“NBCUniversal chose Aptos to bring FREE RENFIELD to life with digital collectibles, so fans can savor every last drop of the Renfield universe,” the Aptos team tweeted.Among the prizes on offer with the free Renfield game are movie-inspired digital collectibles, custom Dracula inspired-jewelry, 24 carat gold bug jewelry, vintage Dracula film posters and a rare 1967 Dracula horror-themed pinball machine.According to Aptos Labs, the game is currently open to residents in 50 states in the United States, including the District of Columbia. Only legal residents aged 18 or older are allowed. Renfield will be in theaters on 14 April 2023.It’s the real f*cking Dracula and he’s one sucky boss🧛🏼‍♂️! Watch the new trailer for #RenfieldMovie, only in theaters April 14th. Get your tickets today: https://t.co/g9Sw3BlHBf pic.twitter.com/d0OsauyFtd— Universal Pictures (@UniversalPics) March 22, 2023Aptos Labs has over the past several months grown to be one of the biggest platforms for Web3 gaming developers.In February this year, they debuted a new Software Development Kit (SDK) offering game developers tools that enhance interoperability and transparency in the gaming ecosystem. This followed its partnership with NPIXEL, a leading South Korea-based game developer, in November 2022.The platform also has partnerships with digital payments provider MoonPay and Google Cloud.The post Aptos Labs and Universal Pictures release Web3 game of vampire movie ‘Renfield’ appeared first on CoinJournal.

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Wood says Hindenburg’s recent short report on Block was ‘wildly misleading’.She bought more than 600,000 shares of the crypto company late last week.Block shares are down well over 30% versus their year-to-date high at writing.Block Inc (NYSE: SQ) was hit hard last week after Hindenburg Research revealed a short position in the crypto company – a sell-off that Cathie Wood saw as an opportunity to expand her exposure to this stock.How many Block shares did she buy?On Thursday, the influential investor mobilized three of her exchange-traded funds to load up on 338,000 shares of Block Inc.She grilled the short seller for “wildly misleading” investors as she shared a Twitter thread from an Ark associate Maximilian Friedrich that reads:All financial services companies, including banks, encounter and combat fraud, especially during COVID – Square and Cash App are no exception, although the short report makes it sound like it.Ark spent $16 million to purchase another 263,562 of Block shares that are now down well over 30% versus their year-to-date high.Wall Street is bullish on Block sharesWall Street appears to be siding with Cathie Wood as well. The consensus overweight rating on Block shares suggests analysts view Hindenburg’s concerns broadly as overblown. Ark’s Maximilian Friedrich also noted in his Twitter thread:While Cash App likely was used for fraud during COVID, ironically, in this example, Cash App’s spending limits might have prevented the criminal to cash out even more of the funds.Wood also increased her stake in Coinbase late last week after the crypto exchange confirmed that it received a Wells notice from the U.S. Securities and Exchange Commission for potentially violating securities laws.At writing, Coinbase stock is down 20% versus its high at writing.The post Cathie Wood grills Hindenburg for ‘wildly misleading’ investors and buys Block shares appeared first on CoinJournal.

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Toronto, Canada, 27th March, 2023, Chainwire​​<a href="https://www.xcmg.com/en-ap/">XCMG Construction Machinery</a> Co., Ltd. (000425.SZ), the world’s third largest construction machinery manufacturers, announced a partnership with <a href="https://confluxnetwork.org/">Conflux</a>, a leading public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company. The partnership aims to leverage blockchain and Web3 technologies to explore more international use cases.The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will leverage the strengths of all three companies to explore new scenarios for the application of blockchain and Web3 technology in the global market. By combining XCMG’s extensive global network with Conflux’s cutting-edge technology and Zen Spark’s fintech expertise, the three companies aim to develop new use cases for blockchain and explore the potential of Web3.XCMG currently ranks third place in the world’s top 50 construction equipment manufacturers, according to KHL Group’s Yellow Table 2022 ranking. In the first half of 2022, despite obstacles, XCMG expanded to overseas markets and achieved export revenue of RMB 12.488 billion ($1.83 Billion), a year-on-year increase of 157.28%. As a world leader in the construction machinery industry, XCMG’s vision is driven by long-term investment and high-level innovation in research and development into the technology surrounding its equipment.“We are excited to partner with Conflux and Zen Spark to explore new opportunities in global markets,” said XCMG’s Vice President of Machinery and General Manager of Import and Export Company, Liu Jiansen. The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd is a significant milestone in the development of blockchain technology and its application in traditional industries. As the world becomes increasingly interconnected, the ability to leverage blockchain and Web3 technology to drive innovation and explore new business models is more important than ever.“We are thrilled to partner with XCMG and Zen Spark to explore new opportunities in the global market,” said Fan Long, Founder of Conflux. “With our cutting-edge blockchain technology, and the expertise of Zen Spark in fintech and blockchain, we are well-positioned to create new solutions and explore new use cases for blockchain and Web3 technology. This partnership is a testament to our shared commitment to innovation and our belief in the potential of blockchain to transform traditional industries.”“Zen Spark is excited to be partnering with XCMG and Conflux on this initiative, and we are confident that our fintech and blockchain expertise will complement the strengths of our partners,” said Grace, CEO of Zen Spark Technology Pte Ltd. “We look forward to exploring new opportunities in the global market and contributing to the development of innovative solutions that benefit businesses and consumers alike.”At the CONEXPO-CON/AGG trade show in Las Vegas, XCMG announced their entry into Web3 by revealing Bored Ape Yacht Club NFT #3489 (BAYC #3489) as the brand’s Metaverse Ambassador. Additionally, XCMG and Conflux plan to jointly issue their first NFT collection for overseas markets in the near future. As XCMG continues to explore new opportunities in the blockchain and web3 space, the company is excited to leverage its partnership with Conflux and Zen Spark Technology Pte Ltd and their expertise in distributed ledger technology and fintech to bring innovative solutions to the global market.The partnership between XCMG, Conflux, and Zen Spark Technology Pte Ltd will be closely watched by industry experts and investors, as the three companies explore new opportunities and drive innovation in the global market. With the power of blockchain and Web3 technology, the possibilities are endless, and the future looks bright for XCMG, Conflux, Zen Spark and the global community.About XCMG<a href="https://www.xcmg.com/en-ap/">XCMG</a> is the world’s 3rd largest…