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Cryptocurrency

New Bitcoin ETFs filed: One for bears, the other with ‘leverage for ants’

Exchange-traded fund issuer Direxion has filed for a product that would enable speculators to buy contracts that short the price of Bitcoin.

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New Bitcoin ETFs filed: One for bears, the other with ‘leverage for ants’
© Reuters

Exchange-traded fund issuer Direxion has filed for a product that would enable speculators to buy contracts that short the price of .

In a filing made to the U.S. Securities and Exchange Commission on Oct. 26, the company unveiled the Direxion Bitcoin Strategy Bear ETF. Like other futures products, it will not invest directly in BTC, but will instead maintain managed short exposure position contracts issued by the Chicago Mercantile Exchange (CME).

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Cryptocurrency

ZCash surges 7% after Digital Currency Group CEO announces $85M purchase

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ZCash surges 7% after Digital Currency Group CEO announces $85M purchase

Digital Currency Group CEO and founder Barry Silbert has purchased more ZCash to add to his company’s coffers as the price of the token moved above $240 for the first time in days.

In a Wednesday tweet to his more than 678,000 followers, Silbert announced the purchase of $85 million in Zcash (ZEC), or roughly 376,106 tokens assuming an average price of $226. The buy is just the latest for Silbert, who seems to be portraying himself as a contrarian in the crypto market — responding to negative comments on ZEC by purchasing millions more.

Source: TradingView

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Cryptocurrency

NFT-DeFi Based Momento Platform Shifts Play-to-Earn Economy

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NFT-DeFi Based Momento Platform Shifts Play-to-Earn Economy
NFT-DeFi Based Momento Platform Shifts Play-to-Earn Economy
  • Momento ecosystem shifts the P2E economy.
  • Unique gaming platform allows players to use various NFTs in their game.

Momento is an NFT and DeFi ecosystem that shifts the P2E economy. Their unique gaming platform allows players to use various NFTs in their game, not only offering lucrative opportunities for players but also use-cases for NFTs that currently don’t have one.

The gaming industry has always been forward-leaning when it comes to the adoption of any new technology. Most innovations in technology easily find use cases with gaming, be it the adoption of high-speed internet, mobile-first interactive gaming, virtual reality, augmented reality, and more. It comes as no surprise that the gaming sector is one of the primary adopters of cryptocurrency too, especially since crypto mining initially became popular because of gamers who owned GPUs. Even NFTs found applications within the gaming space.

When it comes to Web 3.0, gaming is again at the frontier of it. Web 3.0 and cryptocurrencies enable business models in gaming which wasn’t conceivable before. This is possible through the acceleration of the Play-to-earn economy.

The Need for a Paradigm Shift in Gaming

The accepted paradigm in the industry has been that gamers play just to have fun, leading to an industry with players more than willing to pay to play. However, the new perspective enabled by cryptocurrency is that players can not only have fun while playing, but it can be a lucrative investment opportunity too.

Play-to-earn games like The Sandbox and have become widely popular owing to their extraordinary economic system. In traditional games like The Sims, a player can buy in-game assets with an in-game currency. However, both the in-game asset and currency do not have any use in the real world. There is no infrastructure for the liquidity of these assets, but this is where blockchain technology solves this problem.

The essence of the P2E economic system is to ensure that playing a game can be profitable and that a player’s time spent playing a game is rewarded. People have an avenue to be able to make money playing games and have its value compound over time. By playing a game regularly, players can earn more items or tokens to sell and generate an income. Blockchain helps guarantee the nature of collectibility of these tokens. Through NFTs it can be ensured that these assets are non-duplicatable and scarce.

Each play-to-earn game’s mechanism can differ, but usually, the reward mechanism comes in the form of staking, farming a game’s currency, or generating tradable NFTs. Although numerous online games exist with a fiat-based auction or secondary markets, the critical difference with P2E on cryptocurrencies is through the properties of the blockchain. It creates in-game economies and business models with blockchain’s inherent properties of provable ownership, legitimacy, and rarity.

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Cryptocurrency

Cointelegraph Consulting: Gaming tokens usher in altcoin season

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Cointelegraph Consulting: Gaming tokens usher in altcoin season

While remains in a cool-off period after thrusting to its all-time high in early November and the decentralized finance (DeFi) sector in an apparent dry spell, gaming tokens seem to have taken the spotlight as massive gains are seen across the industry.

The Sandbox’ SAND captured headlines as it spearheaded the enthusiasm for gaming tokens, with over 340% gains in the past month. Another one is GALA, with a similar 300% rally in November. Such coins, including those under the metaverse sphere like Decentraland’s MANA and Illuvium’s ILV, gained momentum after Facebook’s rebranding to Meta, suggesting that gaming tokens could be preceding a new altcoin season.

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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