<strong>London, UK, April 5th, 2023, Chainwire</strong><a href="https://metacade.co/en?utm_source=media&utm_medium=pr&utm_campaign=post_listing_uniswap&utm_content=Uniswap_metastudio_staking">Metacade</a>, one of the most highly anticipated GameFi projects in 2023, has spectacularly sold out in its final stage presale, raising an impressive $16.4M.The MCADE token is now set to list on Uniswap on the 6th of April at 7PM GMT. The token will list at a price of $0.022, a 10% rise from the final stage presale price and an attractive proposition to those investors who could not purchase during the sold-out presale. <a href="https://metacade.co/en/staking?utm_source=media&utm_medium=pr&utm_campaign=post_listing_uniswap&utm_content=Uniswap_metastudio_staking">Metacade staking</a> also opens on the same day, citing a 40% AAR.Metacade’s CEO, Russell Bennett, stated, “I was delighted to see the final stage token presale sell out; it only reinforces my faith in the Metacade project. We’re driving ahead now with development and new partnerships, and I look forward to watching the token price as we list on exchanges in April and May.”One of those partnerships will be with <a href="https://www.metastudio.pt/">Metastudio</a>, a revolutionary new gaming company focused on delivering exciting, avant-garde, and fresh mobile games to the Metacade arcade.Metastudio was founded by Carlos Domingues, Manny Fragelus and Ted David. The team boasts impressive CVs, having worked on a number of significant media projects including Shrek, Pirates of the Caribbean, Transformers 2, and Kung Fu Panda.Carlos Rodrigues expressed, “as we eagerly prepare to launch our latest game, Rune Realms, in just a few short months and continue to back other Web3 projects in developing their own games, this partnership arrives just in time to amplify our collective impact.”Further details will be disclosed at the <a href="https://www.youtube.com/watch?v=8hZJr2bK304">AMA at 5pm BST, on the 5th of April,</a> between Metacade and Metastudio, hosted by the respective CEOs – Russell Bennett and Carlos Domingues.There are various ways for MCADE digital currency holders to engage with its ecosystem. The recently launched online platform serves as a virtual gathering spot for gamers and investors, who can receive MCADE rewards for indulging in their favorite activity, i.e., gaming.Furthermore, Metacade intends to motivate its holders to participate in a variety of promotions to help drive the product’s growth and adoption. This strategy will benefit the MCADE token value and provide opportunities for holders as long-term investment as well as a store of value within the ecosystem.<strong>About Metacade</strong><a href="https://metacade.co/en?utm_source=media&utm_medium=pr&utm_campaign=post_listing_uniswap&utm_content=Uniswap_metastudio_staking">Metacade</a> aims to transform the gaming industry by creating the largest play-to-earn (P2E) arcade available. The project seeks to establish a dynamic ecosystem that brings together gamers, developers, and cryptocurrency enthusiasts in one place. Here, they can engage with each other, enjoy a diverse range of gaming activities, and earn rewards for their participation. The release of the platform’s whitepaper has impressed investors and analysts, demonstrating the project’s innovation and potential.Likened to other projects such as The Sandbox, Polygon, and Axie Infinity, the much-awaited P2E platform, Metacade, has obtained validation from CertiK, a leading blockchain auditor. This CertiK validation assures investors that Metacade’s code and specifications are verified and that the Metacade team has undergone the KYC process, thus instilling further trust in the project’s authenticity.Learn more about how to buy MCADE and the upcoming exchange listings <a href="https://metacade.co/en/how-to-buy?utm_source=media&utm_medium=pr&utm_campaign=post_listing_uniswap&utm_content=Uniswap_metastudio_staking">here</a>.Further information: <a href="https://metacade.co/en/?utm_source=media&utm_med…

Trust Wallet has announced a crypto-to-fiat off-ramp.The Binance non-custodial wallet has partnered MoonPay and Ramp TWT price jumped 9% after the news to hit above $1.31 before selling saw it drop to $1.25 as of writing.Trust Wallet Token (TWT), the native token of Trust Wallet, saw its price jump more than 9% to hit $1.31 after news the non-custodial crypto wallet provider had launched a crypto-to-fiat off-ramp.The partnership with Web3 payments platform MoonPay and non-custodial fiat-to-crypto infrastructure provider Ramp will allow Trust Wallet users to seamlessly convert crypto to fiat without having to touch a centralized crypto exchange. Users will transact directly from within the Trust Wallet app, the firms noted.TWT price outlook after Trust Wallet partnershipsAs noted above, Trust Wallet’s integration with MoonPay and Ramp means users can now enjoy seamless withdrawals when handling crypto-to-fiat transactions. The news of the development, which will see the non-custodial wallet’s users tap into frictionless crypto market transactions, also means full control of the stored funds.MediaTWT price on the 4-hour chart. Source: TradingViewThe positive update added to TWT’s buying pressure, with bulls breaking above $1.30 for the first time since 18 March this year. However, the 4-hour RSI is firmly in overbought territory and extended, suggesting a possible dip is on the cards in the short term.While potential profit taking could push TWT/USD to immediate support levels below $1.20, new upside momentum could put bulls on track to retest the resistance around the $1.40 area. A move to $1.76 or higher would open up should the broader market flip bullish.TWT was trading around $1.25 at the time of writing, with its price up 6% in the past 24 hours.The post TWT price jumps 9% after Trust Wallet partners MoonPay and Ramp appeared first on CoinJournal.

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As the adoption of Web3 technology accelerates across industries, the gaming sector has emerged as a frontrunner in embracing the paradigm shift, revealing immense potential for innovation and growth. Metacade, a hugely promising GameFi project, has captured the attention of those looking to invest in crypto with its unique play-to-earn (P2E) ecosystem and compelling vision for the future of gaming. Riding on the wave of enthusiasm surrounding the project, Metacade has successfully raised $16.35m in its presale event, showcasing the confidence and support of its burgeoning community.In a major announcement that has further fueled the excitement around this high-potential project, Metacade has revealed its upcoming debut on the renowned Bitmart Exchange. This development not only highlights the growing interest in Metacade as a solid investment choice but also signifies a crucial milestone in the project’s journey to becoming an influential player in the rapidly evolving world of GameFi and Web3 technology.Will MCADE see significant increases in price this year?As optimism surrounding the GameFi sector continues to grow, the Metacade project has captured the attention of experts who are eager to evaluate if MCADE can reach a significant price range of between $0.90 and $1.20 by the end of 2023 and into the following year.Metacade’s diverse gaming experiences offer it a competitive advantage in determining its potential market cap, with its vast total addressable market indicating that the platform’s user base could see exponential growth as the platform begins to come online later this year.The platform’s array of incentives for user retention—especially for non-gaming activities—and its consistently improving user experience supported by robust reward systems suggests that the demand for utility token MCADE could increase dramatically in the near future. This positions it at the heart of GameFi, and could drive massive returns for investors as a result.To reach a value between $0.90 and $1.20 for MCADE, a market cap of between $1.8 billion and $2.4 billion would be necessary. Considering the enticing tokenomics and the emergence of regulations that provide clarity for institutional investors (allowing them to enter the crypto market more aggressively), many experts believe that achieving this price range by the end of 2023 is entirely plausible.With the announcement of Metacade’s debut on the prominent Bitmart Exchange, the project also looks set to gain even greater visibility and attract more of those looking to invest in crypto. Given the strong potential of the project in the burgeoning GameFi sector, reaching a price in its target range by the end of 2023 seems within reach, making Metacade an exciting investment opportunity for those looking to capitalize on the rapidly evolving world of GameFi.What is Metacade?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=11">Metacade</a> is set to disrupt the gaming industry by creating the most extensive play-to-earn (P2E) arcade in existence, positioning itself as a key player in the rapidly growing GameFi sector. Metacade’s <a href="http://whitepaper">ambitious plans</a> have captured the attention of gamers and the entire industry, thanks to its innovative rewards system that allows users to earn income not only by playing games but also through contributing to the platform in various ways, such as sharing alpha or writing game reviews.The project’s native token, MCADE, could present a significant opportunity for investors, as its extensive utility within the platform combined with its limited supply and attractive presale prices have contributed to the impressive $16.35m raised in a very short period of time.How does MCADE work?MCADE, the native token of the Metacade ecosystem, serves as the driving force behind the platform’s various functions, including the rewards system and facilitating value exchanges throughout the platform — such as entering tournaments…

Bitfinex Derivatives launched perpetuals for HS50, NI225, and XJO.The derivatives platform’s services are not available to the U.S. users.The new perpetual contracts went live today at 06:30 a.m. ET.Bitfinex Derivatives now allows trading products you’ll typically find on a traditional financial exchange and that too with no restrictions in terms of the trading hours (certain limitations apply).Bitfinex Derivatives adds to its perpetuals portfolioOn Wednesday, the derivatives platform launched perpetual contracts for three of the prominent Asian equity indices. In the press release, CTO Paolo Ardoino said:We are delighted to add the HONG KONG 50, JAPAN 225, and AUSTRALIA 200 perpetual swaps to our portfolio of derivatives products.The said contracts went live today at 06:30 AM ET. Bitfinex recently said the total number of bitcoin wallets with non-zero BTC balance climbed to a record 45.388 million.New perpetual contracts are not open for U.S. usersRemember that Bitfinex Derivatives and the range of its services are not available to U.S. clients. Even in the allowed jurisdictions, its open only to verified users.The perpetual contracts this platform announced today allow leverage of up to 100 times and work pretty much the same way as the rest of its perpetual trading portfolio – all transactions are settled in USDt or U.S. dollar denominated Tether tokens. Ardoino added:These equity indices are strong indicators of how the Asian economy is performing. We’re proud to give Bitfinex Derivatives traders freedom to trade these contracts at any time of the day and week.The post Bitfinex Derivatives launches perpetual contracts for Asian equity indices appeared first on CoinJournal.

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Central, Singapore, April 6th, 2023, ChainwireHeartX, a Web3.0 art trading marketplace and community platform, is set to change the game for the art market. The team just announced their pre-launch Vote-to-Earn Game is live now. This new experience allows users to earn tokens ($HNX) through voting on artwork pieces by swiping right or left as Like and Next, giving them a chance to engage with the core feature of the platform in advance and get rewarded for showing their preferences on the arts.The immersive Vote-to-Earn game is a clear demonstration of the platform’s user-centric design, letting people experience the X-to-Earn model in an easier way. By leveraging blockchain technology, HeartX is creating a platform that is more user-friendly, transparent, and entertaining than anything that has come before. Through the Vote-to-Earn system, HeartX is committed to redefining the value of arts by the community consensus with the heart.“We’re all excited about it! All users can earn tokens by ‘swiping’ to vote,” said HeartX founder Anson. “We believe that it’s important to make it more engaging for people and reward them for being part of our community. And through the forming of the community consensus, we would establish a new valuation standard for the artwork pieces.”It is simple to play the game: users can earn tokens by voting on the daily artwork pieces on the event website, no log-in or registration is needed, users can just swipe/click right for like, or left to show the next one. The rewarding tokens $HNX can be used in various scenarios once the marketplace is launched, including investing in your preferred artwork pieces to boost them, and accessing premium features.The HeartX team also announced that during the “Vote-to-Earn” campaign, users who have accumulated more voting works that reached a consensus on community aesthetic views would have the opportunity to participate in the beta testing experience when the HeartX App is launched.Gathering influencers in not only Web3 but also the digital art space, the Vote-to-Earn game is just one example of the many innovative features that the HeartX team has planned for its users. HeartX’s vision for the future of digital art goes beyond being an online marketplace. The team is working to create a marketplace that leverages the power of blockchain technology and provides a binding community for its users. Another current update is that the HeartX token “$HNX” is now available on Uniswap, and it can also be acquired from other decentralized exchanges in a short time. According to the HeartX team, the project is moving forward, and the team believes that more people will join and form a large community, eager to be part of the next big thing in Web3.0.The Vote-to-Earn game is now live, and the team invites users to participate in the voting activities and join the community. The team is confident that this new experience will bring brand new joy and will help to drive engagement and participation in the Web3.0 art community they are building. Users can now join the game, show their taste and support, and earn tokens at https://heartx.art/event/index.html#/.Follow HeartX on Discord | Twitter | WebsiteContactTeam HeartX, service@heartx.artThe post HeartX Unveils Token Airdrop Game “Vote-to-Earn” to Warm Up the Launch of the Platform appeared first on CoinJournal.

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Singapore authorities are working with banks on new guidance for vetting crypto clients. The guidance will cover stablecoins, nonfungible tokens (NFTs) and firms providing services in payments, trading and transfers of these assets.Banks will decide whether they want to take on crypto clients based on their risk appetite.Singapore working on new guidance for crypto clientsSingapore authorities are currently working with banks and other lenders to set uniform standards for vetting cryptocurrency clients, sources close to the matter told Bloomberg. According to the report, the central bank and police have been helping banks to work on their vetting process when opening accounts for service providers in the cryptocurrency and digital asset space. Sources told Bloomberg that the project has been ongoing for roughly six months, and the authorities would soon release an industry report outlining best practices in areas like due diligence and risk management. The sources preferred to stay anonymous as the discussion has not yet gone public. The initiative is set to cover stablecoin and NFTs as well as transferable gaming or streaming credits. The initiative is set to focus on firms that provide services in payments, trading and transfers of these assets. Banks would have the final say in deciding whether to accept cryptocurrency clients based on their risk appetite, the sources added. Tighter regulation following the recent turmoilThe guideline to be issued by Singaporean authorities could be considered a way of tightening regulation in the crypto space following the recent high-class collapses.Last year, numerous crypto companies, including FTX and Terraform Labs, collapsed, resulting in the loss of billions of dollars. The recent collapse of Silvergate Bank, Signature Bank, and the Silicon Valley Bank (SVB) has also put resulted in some crypto clients scrambling for new banks.At the moment, the Singaporean government doesn’t stop banks operating in the country to do business with crypto companies. While talking to Bloomberg, the Monetary Authority of Singapore said; “As with any other current or prospective customer, banks are required to conduct customer due diligence measures to understand and manage the risk(s) posed by them. Banks make their own determination of whether to start or continue a banking relationship with a customer, balancing between commercial considerations and business risk tolerance.” Singapore is not new to cryptocurrency scandals. Some of the recent high-profile companies that collapsed, including Terraform Labs and crypto hedge fund Three Arrows Capital, were headquartered in Singapore. The post Singapore to issue new guidance for banks on vetting crypto clients: Bloomberg appeared first on CoinJournal.

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The ASIC has been conducting a targeted review of Binance’s businesses in Australia.Binance Australia is an arm of Binance.Australian users will no longer be able to trade derivatives on Binance.The Australian Securities and Investments Commission (ASIC) on Thursday issued a press release announcing the cancellation of Binance Australia’s derivatives license.Binance Australia is an arm of the world’s largest cryptocurrency exchange by trading volume Binance.Targeted review of BinanceThe ASIC issued a notice of hearing on March 29 to consider whether the AFS license should be cancelled or suspended.The press release by ASIC states that it:“has been conducting a targeted review of Binance financial services business in Australia, including its classification of retail and wholesale clients.”ASIC Chair Joe Longo said:“It is critically important that AFS licensees classify retail and wholesale clients in accordance with the law. Retail clients trading in crypto derivatives are afforded important rights and consumer protections under financial services laws in Australia, including access to external dispute resolution through the Australian Financial Complaints Authority… Our targeted review of these matters is ongoing, including focus on the extent of consumer harms.”Customers are to close positions by April 21According to the ASIC press release, Australian users will no longer be able to increase derivatives positions or open new positions on Binance from April 14, 2023.The crypto exchange requested action asking their clients to close any existing derivatives positions before April 21. Any remaining open positions will be closed by the exchange.Binance Australia’s derivatives trading license was held by Oztures Trading Pty Ltd.The post Binance Australia’s derivatives license cancelled appeared first on CoinJournal.

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<strong>Dubai, UAE, April 6th, 2023, Chainwire</strong><a href="https://spheroiduniverse.io/">Spheroid Universe</a>, a futuristic Metaverse that augments the real world in every part of the Earth, has announced the upcoming launch of artificial intelligence <a href="https://avatars.spheroid.io/">(AI) Avatars</a> that will inhabit the world around us via augmented reality (AR). This ground-breaking development will deliver breakthrough opportunities across numerous business platforms – from e-commerce and retail to advertising, sales, general customer, and consumer interactions and more.<a href="https://coinjournal.net/wp-content/uploads/2023/04/photo_5291806700229216157_y_1680771713urEyCEfIrv.jpg">Media</a>As a frontrunner in the field of Web 3.0 technology and particularly in the Metaverse, Spheroid develops tools for business that explore the potential of AR tech. The company aims to help businesses become leaders as early adopters of cutting-edge technological advances – such as the new AI Avatars that will be available shortly.<a href="https://coinjournal.net/wp-content/uploads/2023/04/output-onlinepngtools_1680771823bzwdC2OvRl.jpg">Media</a>“The accessibility and practically unlimited potential of AI Avatars that exist within an AR world will encourage faster uptake of the latest AI and Web 3.0 technologies amongst businesses,” explained Andrey Almiashev, CEO, Spheroid Universe. “There is an immense opportunity for our new AI Avatars to be deployed in customer-facing scenarios, such as in sales offices or retail environments. They will create a unique and lasting customer experience, helping brands to reposition themselves as early adopters and forward-thinking with an eye on how technology is reshaping our future. We have developed our AI Avatar product to the highest specifications, even integrating the increasingly popular ChatGPT platform to enhance communication and interactions with humans. This is an exciting time for AI and AR, as we see the boundaries between reality and technology blur even further.”By integrating AI chatbot ChatGPT into its Avatars, Spheroid is ensuring the smoothest possible interactions with people at all times. The Avatars also incorporate voice recognition and voice synthesis technologies, which will make communication quick, habitual, and convenient for users.<a href="https://coinjournal.net/wp-content/uploads/2023/04/output-onlinepngtools_1_1680771989OD7ldguI6C.jpg">Media</a>Spheroid’s AI Avatars are not only intelligent, but able to be designed to take on any visual appearance without the limitations of the physical world. They can be created as unique characters that truly represent their brands, from both a visual and interactive perspective – including how they communicate with customers. This leads to a product that is incredibly flexible, with almost unlimited usage across commercial, entertainment, and educational applications, amongst others.According to Andrey Almiashev: “The combination of AI and AR technologies will redefine the way that businesses communicate with their customers over the course of the next five years. We’re living in a very interesting time, during which we will be able to see for ourselves the impact that AI and AR will have on human civilisation – and we are more than happy to help businesses explore the expansive potential that will come from this.”Spheroid is also planning to integrate their AI Avatars into Apple’s Smart Glasses for an even more immersive experience, which is expected to be released by Apple later this year.<strong>About Spheroid</strong><a href="https://spheroiduniverse.io/">Spheroid Universe</a> (Spheroid), an Extended Reality Metaverse company, has announced that it has secured an investment commitment from ABO Digital for its utility token SPH. Spheroid is a platform for developing Extended Reality projects. The technological basis of the platform is the Spheroid XR Cloud and the Spheroid Script programming language designed for AR/XR creation.<a href="https://coinmarketcap.com/…

EOS price has bounced back in the past few days as investors focus on the upcoming EVM integration and the potential business deal with Hong Kong. The coin jumped to a high of $1.23, which was higher than last week’s low of $0.90.EVM launch and Hong KongThe biggest EOS news was the decision by the developers to integrate Ethereum Virtual Machine (EVM) in the network. EVM is a piece of software that executes smart contracts in Ethereum’s network. It also computes the state of the Ethereum network after each block is added to the chain.This is important for EOS because it means that dApps developed in its ecosystem will be compatible with those created in Ethereum. Ethereum is the biggest smart contract platform in the world. Therefore, this integration will suit developers and users.This explains why other leading chains have launched their EVM platforms. In March, popular platforms like IOTA, Zilliqa, Filecoin, and Cardano are working towards integrating the EVM capabilities.The other main reason why EOS price is rising is a tweet by Yves La Rose, the CEO of the EOS Foundation. In it, he said that he was traveling to Hong Kong for a nine-day business trip. He also hinted that he will speak with officials on how EOS can play a role in the economy. Heading to Hong Kong this weekend! 🇭🇰✈️During my 9-day trip, I'll be working out of the @EOSNFoundation's HK office and attending 20+ events.One of the focuses of my trip is to collaborate with HK government officials to determine how $EOS can play a key role in their future.— Yves La Rose (@BigBeardSamurai) April 5, 2023The biggest risk for EOS is that its ecosystem is still small despite the fact that the developers raised over $4 billion in their Initial Coin Offering (ICO). Also, competition in the industry has grown, with some of the biggest names being Polkadot and Avalanche.EOS price forecastMediaThe daily chart shows that the EOS crypto price has been in a strong bullish trend in the past few days. In this period, the coin has moved above the 50-day and 25-day moving averages. The coin has formed a cup and handle pattern, which is usually a bullish signal. It has also formed a rising wedge pattern, which is usually a bearish sign.Therefore, the outlook of the coin is a bit mixed at this point. A bullish view will only be confirmed if the coin manages to move above the key resistance at $1.3362, thee highest point on March 3. A drop below the support at $1.10 will invalidate the bullish view,How to buy EOSeToroeToro 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 EOS with eToro today Disclaimer Binance.USBinance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.Buy EOS with Binance.US todayThe post EOS price is bouncing back: here are the possible reasons appeared first on CoinJournal.

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Key takeawaysMYRIA, the native token of Myria, has launched on the OKX exchange.The token has a total supply of 50 billion.The team also announced the launch of its second major NFT airdrop for the Myria community. MYRIA launches on OKX exchangeMYRIA, the native token of the Myria platform, has launched on the OKX cryptocurrency exchange. This is according to the press release shared with Coinjournal. Myria is an L2 blockchain scaling solution on the Ethereum network. The platform leverages ZK roll-up technology to offer players and developers near-instant transactions with a speed of over 9000 tps, zero gas fees on transactions, and free NFT minting.According to the team, Myria already has more than 250 third-party gaming projects already operating on its platform. Furthermore, Myria has more than a million registered users, with more than 350,000 community members. The launch of MYRIA on the OKX exchange is a major milestone in Myria’s milestone. MYRIA is an ERC-20 token that has numerous use cases within the ecosystem, including governance, staking, protocol fees, node purchases, and in-game utility.Myria revealed that MYRIA would have more use cases as the platform grows. While commenting on this latest cryptocurrency news, Myria co-founder and Head of Blockchain Brendan Duhamel, said;“Our token launch is another step towards our goal of building and scaling innovative blockchain games securely and effectively. Within a short time, Myria managed to bring onboard 1 million users and make it easier for gaming studios to build Web3. This is what will truly scale the ecosystem, and our goal is to make it easier for both players and game studios to enter the Web3 space.”MYRIA has a 50 billion token supplyRevealing its tokenomics, the team said MYRIA has a maximum supply of 50 billion tokens. Of this number, the ecosystem fund takes 40%, node rewards gets an allocation of 36%, project development with 19%, liquidity provision has 3%, and strategic reserve takes the remaining 2%. To celebrate the launch of MYRIA on OKX, community members would have the chance to participate in the Alliance Key NFT Airdrop. This will be the second major NFT airdrop, providing gamers with in-game utility.The team also revealed that its public node sale will go live on April 7, bringing the network into a new realm of true decentralization. OKX, one of the leading cryptocurrency exchanges in the world, recently announced that it would cease its operations in Canada, citing regulatory challenges in the country.The post Layer 2 Blockchain gaming platform Myria’s native token is now live on OKX appeared first on CoinJournal.

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Key TakeawaysMicroStrategy has purchased another thousand Bitcoin, taking their holdings to 140,000 at an average price of $28KThe total investment is now $4.2 billion, with the company’s fate tied to the Bitcoin priceCEO Saylor remains ultra-bullish, but has no regard for risk managementFor investors, someone may as well just purchase Bitcoin directlyMicroStrategy is at it again. The software company, which is now essentially a <a href="https://coinjournal.net/bitcoin/">Bitcoin</a>-holding company, has purchased another 1,045 Bitcoin. The company now holds 140,000 coins, with Michael Saylor’s now-trademark Twitter post announcing the latest investment to the world Wednesday. MicroStrategy has acquired an additional 1,045 <a href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw">#bitcoin</a> for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&src=ctag&ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/IBufTxalnv">https://t.co/IBufTxalnv</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1643586872839471105?ref_src=twsrc%5Etfw">April 5, 2023</a>MicroStrategy’s 140,000 stash of Bitcoins is the largest holding of any public company. It constitutes 0.72% of the entire supply, meaning they own 1 in every 138 Bitcoins currently in circulation. A long way to go to Satoshi Nakamoto and his/her approximate stash of 1 million coins (5.2% of the supply), but Saylor is on his way. The latest purchase was locked in at average price of $28,016 per Bitcoin, bringing the average price to $29,803, meaning the company is slightly underwater on the $4.17 billion investment.Michael Saylor doesn’t do risk managementCEO Saylor’s conviction remains unwavering, while his disdain for portfolio diversification is also unchanged. For me, regardless of your thoughts on Bitcoin as an investment, it is difficult to get on board with an investment of this scale. The risk is extreme, with the fate of the company now well and truly in the hands of the capricious crypto gods. A look at the share price action shows how tightly correlated it now is with Bitcoin. MicroStrategy shed three-quarters of its value last year as Bitcoin plummeted amid the bear market, but has doubled this year as Bitcoin has bounced back. Saylor’s conviction may be admirable, but his risk management not. This is especially pertinent when looking at his rhetoric regarding advising people on what to do with their funds – again, nothing to do with Bitcoin, but the failure to understand the risk tolerance and financial circumstances of everyday people is jarring:<em>“Take all your money and buy Bitcoin. Then take all your time to figure out how to borrow more money to buy more Bitcoin. Then take all your time to figure out what you can sell to buy Bitcoin.</em> <em>And if you absolutely love the thing and don’t want to sell it, go mortgage your house and buy Bitcoin with it. And if you’ve got a business that you love because your family works for the business – if it’s been in the family for 37 years and you can’t bear to sell it – mortgage it, finance it and convert the proceeds into the hardest form of money on earth, which is Bitcoin”</em>The interview occurred in March 2021. Bitcoin was trading north of $56,000 at the time, approximately double what it is currently. I sincerely hope that nobody listened to his advice of this billionaire and mortgaged their house or business. And again, this is not a discussion on the merits or price of Bitcoin. The same logic would hold if Bitcoin was now $200,000 per coin. Not that it needs to be said, but for the record, mortgaging your future and your entire financial well-being on one asset – and especially one as volatile as Bitcoin- is, well, <em>not smart. </em>Nonetheless, Saylor is intent on doing this with MicroStrategy.…

Crypto market news has been inundated in recent weeks with the easing of markets as the crypto bull run gains momentum. Nowhere has the improvement in conditions been felt more than in the GameFi sector, which continues to see impressive gains being posted among the big names in the crypto gaming sector.However, the real crypto market good news story is that of play-to-earn (P2E) virtual gaming arcade, Metacade (MCADE), which exceeded expectations during its recent presale event, which raised $16.35m. MCADE is predicted to post impressive results when listed on leading crypto exchanges Uniswap and Bitmart in April 2023.Metacade’s comprehensive earning mechanics are unrivaled within the GameFi sector, making it one of the most desirable investment opportunities as the crypto bull run revs up.Everything you need to know about the MCADE crypto exchange listingMetacade’s hugely successful token presale has generated enormous momentum among its early-stage investors which looks set to spill into the public consciousness as the token readies itself to be listed on leading crypto exchanges. The MCADE IDO is due to launch this week, with the token listing on UniSwap at $0.022.This hotly-anticipated P2E platform combines some of the most addictive online gaming experiences to be found anywhere on the blockchain with a wide-ranging crypto rewards system that offers users unrivaled avenues to earn passive income online as they play.In addition to the UniSwap listing on 6th April, the MCADE token will also be listed on Bitmart in April and MEXC in early May. These upcoming listings could produce ferocious buy action on the token, helping it illustrate its reputation as one of the top-performing new investments of 2023.As the earliest presale investor got hold of MCADE tokens for the princely sum of $0.008, other investors got on board during the ICO at a higher price due to the speed with which demand spread during the presale event. With every round of the presale selling out entirely, the token’s scarcity upon listing, and the wildly attractive project plan, MACDE looks set to appreciate over the coming weeks and months to unprecedented levels.How high will MCADE go this year?The GameFi revolution continues to lead crypto market news headlines as the crypto bull run gains momentum. So Metacade has come at the right time to fully reap enormous dividends. The project has captured the attention of experts eager to see if MCADE can make good on its promise and surge toward the $1 barrier by the end of 2023.The diverse gaming experience offered by the platform gives it a competitive advantage over other GameFi titles, which primarily rely on a single title or gameplay experience to attract fans. With an overall market cap of $2 billion required to drive MCADE to $1, it has plenty of work to do to achieve this milestone, but it would take a brave soul to bet against it happening.This price potential is driven by the array of incentives available to drive user retention, particularly outside the traditional P2E sphere. As a result, its comprehensive rewards scheme is set to continually improve the user experience, likely leading to increased demand for MCADE as a utility token, even before it realizes its value as a governance coin.What is Metacade?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=16">Metacade</a> is set to revolutionize the online gaming space by building the most extensive P2E virtual arcade, positioning itself as a vital member of the burgeoning GameFi sector. Metacade’s ambitious <a href="https://metacade.co/whitepaper.pdf">white paper</a> sets out its objectives to build the largest online community of gaming enthusiasts and crypto fans thanks to its innovative rewards system that provides several opportunities for users to gain income, not only through gameplay but via token staking and socially interacting with the community.The native MCADE token presents investors with an exciting and once-in-a…

Famed investor Jim Cramer shares his view on Coinbase stock.BofA analyst reiterates his underperform rating on COIN.Coinbase stock is down nearly 30% versus its year-to-date high.Coinbase Global Inc (NASDAQ: COIN) has lost nearly 30% in recent weeks but famed investor Jim Cramer still doesn’t dub it an opportunity to invest in it.Cramer shares his view on the Coinbase stockThe Mad Money host is disappointed that the crypto exchange did not benefit in terms of inflows amidst the recent bank failures. On CNBC’s “Squawk Box”, he said:I figured that, not to me, but to some people they were the JPMorgan of the business. So, the money goes to JPMorgan. Doesn’t look like it. I wouldn’t touch this thing at all.Last month, the crypto company received a Wells notice from the Securities and Exchange Commission for violating U.S. securities laws.Remember that year-to-date, Coinbase stock is still up 90% at writing.Bank of America is bearish on Coinbase stockAlso on Thursday, a Bank of America analyst cited data from CoinGecko and said transaction volumes remained roughly flat for Coinbase in the first quarter (sequentially), missing consensus by a whopping $24 billion.That’s when crypto prices have been trending up since the start of the year. That’s noteworthy as transaction volume makes up a huge chunk of its total revenue.Jason Kupferberg also cited a 6.0% decline in app downloads (data from Sensor Tower) as he reiterated his “underperform” rating on Coinbase stock.  At 2.7 million, app downloads in Q1 were the lowest since the third quarter of 2020. The analyst added:While we don’t see much risk to Coin’s 1Q interest income, USDC’s market cap has fallen 24% since the bank crisis started, which could add risk to interest income estimates over the next few quarters.The post Jim Cramer on Coinbase stock: ‘I wouldn’t touch this thing at all’ appeared first on CoinJournal.

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<a href="https://coinjournal.net/price/">Cryptocurrency prices</a> went nowhere this week as focus remained on the happenings in the United States, where data revealed that the economy was weakening. Bitcoin price remained in a consolidation phase even as the US dollar index (DXY) plunged. Ethereum was a major winner as its price approached $2,000. This coin price prediction will like at key coins like Casper, XRP, and Dogecoin.Dogecoin price predictionOne of the biggest <a href="https://coinjournal.net/news/">cryptocurrency news</a><strong> </strong>was the decision by Twitter to change its logo into Dogecoin’s logo. The move pushed both DOGE and other meme coin tokens sharply higher as investors pondered the next actions by Elon Musk. <a href="https://coinjournal.net/dogecoin">Dogecoin</a> price soared to a high of $0.10, the highest point since December 5 last year. It then quickly unraveled and has dropped in the past four straight days. During this decline, the token moved below the important resistance level at $1, the highest point on February 4. DOGE remains above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved below the overbought level. Therefore, because of the RSI trend, I suspect that the coin will continue falling during the weekend as sellers target the key support level at $0.07. Still, we can’t rule out a situation where the coin bounces back as investors buy the dip.<a href="https://media.igms.io/2023/03/07/1680863950319-91f78488-a0ad-45cc-a3df-125f054e570f.png">Media</a>How to buy DogecoineToroeToro 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.<a href="/visit/etoro-crypto?guid=MTM2NjY4&component=simple-table&language=en&country=US&state=VA&position=1&totalPositions=1">Buy DOGE with eToro today</a> Disclaimer XRP price predictionThe XRP price has done well in the past few weeks as investors observe the Ripple vs SEC case. Expectations are that the case will end soon and that Rippple will prevail. Other analysts believe that the XRP price will do well regardless of how the case ends in the long run.On the daily chart, we see that the <a href="https://coinjournal.net/ripple/">Ripple</a> price jumped to a high of $0.5861 in March, as we wrote <a href="https://coinjournal.net/news/xrp-price-prediction-xrp-bulls-wake-up-as-ripple-vs-sec-decision-edges-closer/">here</a><strong>. </strong>The coin has now pulled back and retested the important support at $0.4932, the highest point on March 21st. This is known as a break and retest pattern, meaning that the coin will continue rising as buyers attempt to retest the year-to-date high of $0.58.<a href="https://media.igms.io/2023/03/07/1680863950834-0e53e616-768d-4e59-a328-58d66025dee7.png">Media</a>How to buy RippleeToroeToro 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.<a href="/visit/etoro-crypto?guid=MTM2NjY4&component=simple-table&language=en&country=US&state=VA&position=1&totalPositions=2">Buy XRP with eToro today</a> Disclaimer BitstampBitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.<a href="/visit/bitstamp-crypto?guid=MTM2NjY4&component=simple-table&language=en&country=US&state=VA&position=2&totalPositions=2">Buy XRP with Bitstamp today</a>Casper price predictionThe daily chart shows that the CSPR price has been in a slow bullish trend in the past few weeks. The token has been supported by the risng trendline shown in orange. It has moved above the 25-day and 50-day moving averages while the RSI has moved above the middle line…

Crypto projects are seeking non-US jurisdictionsThere has been a surge in crypto-targeted crackdowns by authorities in the US.On the contrary, East Asian countries have been making strides to promote crypto in the last few months.Seychelles-based crypto exchange Bitget has launched a new $100 million Asia-Focused Web3 Fund. The cryptocurrency exchange aims to take advantage of the recent strides by a majority of Asian countries to promote cryptocurrencies over the last months as opposed to the recent crypto crackdowns in the United States according to recent crypto news.The exchange seems to follow in the footsteps of the Huobi cryptocurrency exchange, which IN February intends to expand into Hong Kong by seeking a license to operate in the country.Hong Kong is seemingly easing its crypto regulations while Japan recently approved a whitepaper for Web3 development.In a statement sent to media outlets, Gracy Chen, the Managing Director of Bitget, said:“Despite the bear run, Bitget has always been supporting promising and innovative projects and the development of the Web3 environment with a focus on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023.”A self-funded fundAccording to a spokesperson at Bitget, the newly unveiled fund will be self-funded. The spokesperson said:“Bitget is debt-free with adequate cash flow, thanks to its steady development and fast-growing business.”Bitget exchange seems to be on an investing spree since the launch of this fund comes days after the exchange made another $30 million investment into the decentralized multi-chain wallet BitKeep.The post Bitget starts a new $100M fund targeting Asian Web3 startups appeared first on CoinJournal.

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The recent failures of Silvergate and Signature Bank left Binance.US without banking services.Binance.US is looking for a new bank partner to serve as a fiat on-ramp and off-ramp for its clients in the US.A WSJ report has however indicated that the exchange is facing challenges in identifying the bank partner.Binance.US, the United States arm of global crypto exchange Binance, is in the process of identifying a new bank partner that will serve as a fiat on-ramp and off-ramp. The crypto exchange was left with a bank partner after the collapse of the Silvergate and Signature Bank.However, according to a report published by the WSJ on April 8, Binance.US has been facing challenges in establishing a new bank partner. According to the report, the exchange has been depending on middleman banks to store funds.Currently, Binance.US is holding customer funds through the financial technology firm Prime Trust’s banking partners.Regulatory crackdown on banks with crypto clientsBinance.US has had a number of attempts in establishing a direct banking relationship with the likes of Cross River Bank and Customers Bancorp, but they have all failed.The regulatory crackdown in the US on banks with cryptocurrency clients is seen as a major factor contributing to the struggles the exchange is facing in identifying a new banking partner.Binance has been the focus of the US Commodity Futures Trading Commission (CFTC) investigation since 2021. The CFTC sued Binance Holdings and its CEO, Changpeng “CZ” Zhao, last month for alleged trading violations. And although CZ issued a statement refuting CFTC’s allegations, the lawsuit has had a significant effect on the exchange including leading to a drop in the exchange’s crypto market share.The absence of a direct bank has greatly affected Binance.US customers, especially after Binance said that some US dollar deposit services would be temporarily affected as it transitions to new banking and payment service providers over the next few weeks.The post Report showing Binance.US unable to find bank partners in the US appeared first on CoinJournal.

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Bitcoin price hovers above $28k with a ranged trading over the past month.Analyst Michael van de Poppe says the US consumer price index report out this week could be a big market mover.Bitcoin’s volume weighted average price (VWAP) is a metric to also watch.<a href="https://coinjournal.net/bitcoin/">Bitcoin price</a> continued its ranged trading this past weekend, with bulls retesting the $28,500 area. As the week starts, the top cryptocurrency could see an injection of volatility.Indeed, crypto analyst Rekt Capital says bitcoin remains “<em>well positioned for mid- to long-term upside</em>”, particularly as the cryptocurrency moves towards its next halving event. <a href="https://twitter.com/hashtag/BTC?src=hash&ref_src=twsrc%5Etfw">#BTC</a> is very well-positioned for mid- to long-term upsideIt would be a shame to miss out on the exponential post <a href="https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw">$BTC</a> Halving gains<a href="https://twitter.com/hashtag/Crypto?src=hash&ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/FE1j3nCTmN">pic.twitter.com/FE1j3nCTmN</a>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1645126411999379456?ref_src=twsrc%5Etfw">April 9, 2023</a>But what about the next few days? Below is what analysts say about Bitcoin price this week.Bitcoin price prediction ahead of CPI data this weekAccording to crypto analyst Michael van de Poppe, BTC is still in consolidation – which has stretched from around mid-March. But with big economic news on the cards this week, the market could be in for a bit of movement.In a comment on Bitcoin price he shared on Monday, van de Poppe said the upcoming Consumer Price Index (CPI) data expected on 12 April is a “<em>big event this week</em>.” If buyers manage to retest the $28,600 level, its likely BTC will break higher.“<em>Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation. Big event this week with CPI, probably the market mover. If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards</em>,” the analyst noted.Here is the analyst’s Bitcoin price chart.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw">#Bitcoin</a> is still stuck in the range. Good move overnight to $28,500 and back to consolidation.Big event this week with CPI, probably the market mover.If another test of $28,600 takes place, I'm assuming we'll be breaking out upwards. <a href="https://t.co/soCWROaeDy">pic.twitter.com/soCWROaeDy</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1645329867397890048?ref_src=twsrc%5Etfw">April 10, 2023</a>Trading volume metric and BTC price outlookPseudonymous analyst bitcoindata21 also says the CPI news this week will likely be a major market catalyst. However, he also highlights Bitcoin’s Volume Weighted Average Price (VWAP), which he says currently sits on the benchmark cryptocurrency’s all-time highs.VWAP takes into account the average price of a trading asset as weighted by its total trading volume. The metric helps analyse and forecast price movement based on the average value over a given period. In this case, bitcoindata21 highlights the 30-day VWAP on 15 April, with a potential upward crossing on 13 April.The chart below bitcoindata21 <a href="https://twitter.com/bitcoindata21/status/1645141091069353987">shared</a> on Twitter shows a comparison of the 2019 and 2023 price movements.<a href="https://media.igms.io/2023/03/10/1681121214217-1446ba73-a143-4cbe-a86c-d1d36cf76bf5.jpg">Media</a><em>Bitcoin price VWAP historical data outlook comparing 2019 and 2023. Source: bitcoindata21 on Twitter.</em>The 1-month sideways trading along the VWAP is similarly positioned as was in 2019 before BTC went on to hit a new all-time in the last bull market.The post <a href="https://coinjournal.net/news/bitcoin-price-prediction-watch-out-for-cpi-event-this-week/">Bitcoin…

Wemade says Tangled features an AI-based verification system to enhance safety for the Web3 live chat users.Users can accumulate time points and swap them for utility tokens like WEMIX.Wemade is making giant steps in bridging traditional gaming to Web3 and blockchain.Wemade, a leading South Korean based gaming and blockchain company, has today launched the new Talk to Earn (T2E) decentralised application dubbed Tangled on its DAO and NFT Platform NILE.The popular video game developer, whose The Legend of Mir title is one of the biggest gaming hits, shared the news via a press release on Monday. According to Wemade, the Web3 live chat dApp uses AI-based AI-based verification to ban fake gender accounts or profiles. The artificial intelligence helps to ensure dApp users enjoy the highest standards of safety and chat experiences, the firm noted.Live chat and earn pointsTangled users will have an opportunity to chat with others across the globe. The chat application has a built-in mechanism that allows users to earn time points as other users accept their chat offer.Accumulated points are then saved in native Tangled NFT called Tangled Timepieces. The NFTs are in three grades – Luxury, High-End, and Zenith. A user can fuse same grade NFTs to achieve a higher grade NFT. Higher graded pieces mean more time points and longer live chat times.Users can also exchange time points for TIPO, a utility token that one can then swap for other digital assets such as WEMIX.Microsoft-backed Wemade has been aggressive in its blockchain and Web3 strategy since CoinJournal reported on the firm’s “blockchain facelift” for Legend of Mir in 2020. The company recently partnered decentralised warehousing provider Space and Time to help power its blockchain gaming platform WEMIX PLAY. The collaboration will see Wemade help the next wave of GameFi development, Wemade announced.The UNI token also rallied last July when Wemade announced it would add liquidity to Uniswap. The Korean game developer’s interest via the WEMIX/USDC pool on Uniswap V3 saw huge volume spikes, aiding the uptick in UNI price.The post Wemade launches Web3 live chat app Tangled on NFT platform NILE appeared first on CoinJournal.

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Chiliz price drifted sideways on Monday as the price of key fan token dropped sharply. The CHZ token was trading at $0.1297, where it has been in the past few days. This price is about 37% above the lowest level this year and ~26% above March’s low.Fan token prices retreatChiliz is a leading platform in the blockchain industry. It is a unique platform in the entertainment and sports industry. Its primary platform is known as Socios, which helps people trade fan tokens of some of the biggest teams in the world.Chiliz also provides a smart contract platform that makes it possible for teams to build fan tokens.Today, data compiled by Fan Market Cap shows that there are 82 fan tokens that have a combined market cap of more than $382 million.In most periods, Chiliz tends to do well when fan tokens are rising. In the past few days, some fan tokens have done well, with OG’s token jumping by over 257%. Other top fan tokens like Manchester City and Alpine have risen by 16% and 51%, respectively in the past 7 days.However, most of these tokens are some of the worst performers in the past 24 hours. OG price has dropped by 20% in the past 24 hours while Alpine, Arsenal, Inter Milan, and Atletico Madrid have dropped by double-digits in the same period. Another reason why the CHZ price is struggling is that the overall volume has dropped in the past few days. The token’s volume jumped to a high of 319.85 million on April 8, the highest level since February 22. This volume has dropped to ~83 million on Monday. Chiliz price predictionMediaSo, is it worth it buy Chiliz? The daily chart shows that the CHZ price has been in a tight range in the past few days. This price is consolidating at the 50-day and 25-day moving averages. It has moved above the ascending trendline that connects the lowest level since June last year. The Relative Strength Index (RSI) has moved below the key level at 60.Therefore, the token will likely remain in this range for a while and then retest the ascending trendline at $0.10. A move above the key resistance at $0.1432 will invalidate the bearish view.How to buy ChilizeToroeToro 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 CHZ with eToro today Disclaimer Binance.USBinance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry.Buy CHZ with Binance.US todayThe post Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip appeared first on CoinJournal.

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South Korean exchange GDAC reported the hack early Monday.The exchange said the hackers stole nearly 61 BTC, 350.5 ETH, 10 million WEMIX tokens and 220,000 USDT.On-chain data shows the hacker has swapped USDT for ETH and sent 461 ETH to a crypto mixer.Crypto news out of South Korea is that hackers stole nearly $13 million from the crypto exchange GDAC. The exchange reported that the incident occurred on Sunday.According to the exchange’s security update, the hackers transfered roughly 61 bitcoin, 350 ether, 10 million WEMIX tokens and 220,000 USDT from its hot wallet.In total, the hack left GDAC with a $13 million or so hole in stolen crypto, with the lost funds accounting for 23% of the exchange’s total custodial holdings.As a result of the hack, GDAC suspended its wallet system, pausing deposits and withdrawals. The exchange also announced it had reported the hack to the South Korea police, requesting for a cyber investigation.Hacker sends 461 ETH to Tornado CashGDAC said the assets were taken from its hot wallet, with the hackers transferring the coins to an unknown crypto wallet. While GDAC says its working with Korean security experts and authorities in a bid to recover the funds, crypto market intelligence firm Arkham reports the hacker has swapped the USDT into ETH. The blockchain intelligence platform revealed on Monday that the attacker had already sent approximately 461 ETH to the crypto mixing platform Tornado Cash.The post South Korean crypto exchange GDAC hacked for $13 million appeared first on CoinJournal.

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KBW analyst now rates Block stock at market perform.Steven Kwok still sees upside in “SQ” to $75 a share.Block shares are currently down over 25% year-to-date.Shares of Block Inc (NYSE: SQ) are trading down this morning after a KBW analyst downgraded the crypto company citing several “small risks”.Block Stock could still climb to $75Steven Kwok now rates the San Francisco-headquartered firm behind Cash App at “market perform”. His lowered price target of $75, though, still suggests about a 10% upside on its previous close.The analyst finds Block stock a bit less attractive now that multiple risks are piling against it. His research note reads:This big items revolve around rising competition within acquiring, and potential for regulatory scrutiny within its Cash App segment.In February, Block Inc reported weaker-than-expected earnings for its fourth financial quarter.Hindenburg has a short position in Block IncKwok is not convinced that the company’s income from instant deposit fees or unregulated interchange are very dependable. Rising competition, he said in his research note, could also weigh on take rates, volume growth, and profitability.Strength in its seller business is rooted in its in-store offering, and as more goods are sold online, this could shift purchase volume to marketplaces and eCommerce focused platforms like Shopify.Last month, short seller Hindenburg Research also took aim at the crypto company, alleging that its Cash App has a lot of fake/duplicate accounts, many of which were involved in criminal activities.Year-to-date, Block stock is down more than 25% at writing.The post KBW downgraded Block stock on Monday: find out why appeared first on CoinJournal.

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