[PRESS RELEASE – Seychelles, Mahe, April 19th, 2024]

ScapesMania, a new project in the blockchain space, is set to engage with the burgeoning casual gaming market, which is projected to reach $19.12 billion by 2027 according to industry forecasts.

Overview of ScapesMania

Inspired by successful blockchain gaming projects during previous bullish market cycles, ScapesMania combines traditional gaming experiences with blockchain technology, creating a dual Web2 and Web3 ecosystem. This platform provides engaging gaming experiences while offering various rewards for participants.

Key Metrics of $MANIA

• Total Supply: 4 billion $MANIA
• Circulating Supply: 1.68 billion $MANIA
• Market Cap: $8.23 million
• Holder Count: 18,820

Performance Overview

Since its launch, ScapesMania has achieved the following:

• Amassed over $6.125 million in its presale.
• Attracted 18,820 holders.
• Recorded $2.5 million in trading volume on its first day on an exchange.
• Featured on DEXTools’ Hot Pairs list at launch.
• Achieved a 147.7% price increase in under three weeks.
• Garnered over 60,000 followers across social media platforms.
• 

Utility of $MANIA

$MANIA token serves multiple functions within the ScapesMania ecosystem:

• DAO Governance: Allows community members to vote on project-related decisions.
• Token Staking: Provides incentives for token holders to lock their tokens for a period to get rewards.
• Engagement Rewards: Rewards community participation with additional tokens.
• In-Game Assets: Utilized as in-game currency and can also be obtained as rewards by players.
• Ecosystem Currency: Used across forthcoming projects within the ScapesMania ecosystem.

Tokenomics

$MANIA has a fixed supply of 4 billion tokens, with 320 million designated for community rewards. The token distribution includes mechanisms such as cliffs and vesting to maintain a balanced supply and demand.

Source: ScapesMania’s Whitepaper

Market Potential and Strategic Development

ScapesMania is entering a competitive and growing casual gaming industry. The project is actively developing its first gaming venture, which includes a staking program and DAO governance integration, in partnership with skilled developers and an award-winning studio.

Source: ScapesMania’s Whitepaper

Community Engagement

The development of ScapesMania has been significantly supported by a dedicated community, contributing to its early achievements and continued growth.

Acquiring $MANIA

To acquire $MANIA tokens, users can visit the ScapesMania website, connect their digital wallets, select the desired token pair, specify the amount, and confirm the transaction.

About ScapesMania

ScapesMania offers a gaming ecosystem that appeals to both casual gamers and crypto enthusiasts. It enables players to enjoy immersive gameplay without extensive crypto knowledge, while providing token holders the opportunity to influence the project’s trajectory through active participation in its governance.

For more information, please visit ScapesMania’s official website.

Telegram: https://t.me/scapesmania

Bitcoin’s fall to $61,000 over the weekend was a result of market participants reducing their exposure to the digital asset ahead of the halving slated for April 20, according to the latest CryptoQuant weekly report.

Analysts said traders closed their long positions to take profits, and now, the volume of sell orders in the perpetual futures markets is dominating buy orders. This is evident in the Buy Sell Ratio, which has declined below one. The ratio rallies above one when buy orders dominate sell orders.

Traders Decrease Exposure to Bitcoin

As traders decreased their exposure to Bitcoin, total open interest fell from 250,000 BTC to approximately 220,000 BTC. Short-term holders (entities holding BTC for less than six months) offloaded their assets to realize high-profit margins from the asset’s recent rally to $71,000.

Funding rates also took a hit, as they have become negative for the first time since January 2024. CryptoQuant said negative funding rates indicate traders are willing to pay for opening and maintaining short positions.

In addition, Bitcoin demand growth from whales (holders with 1,000 to 10,000 BTC) has slowed down following a fast pace seen last month. The month-on-month increase in the total balance of these large entities has reduced to 8% from the 11% recorded in mid-March.

Similarly, the demand growth from permanent BTC holders (accumulation addresses) and exchange-traded funds (ETFs) in the United States has weakened, with the former seeing monthly records of 161,000 BTC, down from the 204,000 BTC seen in previous months. ETFs have witnessed net outflows for three consecutive trading days, with outflows from Grayscale’s GBTC surpassing the cumulative inflows of the funds.

Bitcoin Still in Bull Market

Regardless of the plunge in demand growth and open interest, BTC is still in the bull market phase. CryptoQuant analysts said the recent sell-off was needed to reset traders’ unrealized profits to zero, a move deemed a bottom signal in bull cycles. Bitcoin’s value has also moved closer to the traders’ realized price of $58,000, which has served as support in this season.

“From a long-term cyclical perspective, Bitcoin is still in a bull market phase. CryptoQuant’s Bull-Bear Market Cycle Indicator is still in the BULL phase. However, it signaled the bull market had entered an overheated phase when prices increased above $70K,” the firm said.

It may sound counter-intuitive that a decentralized network can generate a profit, but that is exactly what Ethereum has done so far this year.

According to an April 18 Token Terminal report, the Ethereum blockchain generated a $369 million profit in the first quarter of 2024.

If this level of profit is sustained, the blockchain could generate around $1.5 billion for the year.

🚨 BREAKING: The Ethereum blockchain generated a $369.08M profit in Q1 ‘24.

Wait, what?!

How can a *blockchain* like @ethereum be profitable?

Let’s go through Ethereum’s business model step-by-step:

1. Fees. All users on the Ethereum blockchain pay transaction fees in ETH… pic.twitter.com/gHAoNbRf48

— Token Terminal (@tokenterminal) April 18, 2024

Ethereum Blockchain Profitable

Token Terminal explained that Ethereum’s revenue model is based on network fees, which are the gas users pay for making transactions. Gas costs spiked in early March but have now fallen back to yearly lows.

Moreover, a portion of the ETH is burned and removed from circulation for every transaction. This accrues to the economic benefit of existing ETH holders since issuance becomes deflationary during times of high demand.

There are also ‘expenses,’ which is the issuance of new ETH to the network’s validators and stakers as an additional economic reward.

“The difference between the daily USD value of the burned ETH (revenue) and the newly issued ETH (expenses) represents the daily earnings for existing ETH holders,” it explained.

Crypto investor and Etherean Ryan Sean Adams said that Ethereum wasn’t like other blockchains. Over the past 18 months, Ethereum generated almost $1 billion in earnings, he added.

“This puts Ethereum in the top 20 entities globally in terms of buyback yield at 0.23%. Ethereum is only 9 years old. ETH should be over $10k based on this alone.”

No, ethereum isn’t like the other chains.

Ethereum is profitable.

Over the past 18 months Ethereum generationed almost $1 billion in earnings.

These earnings were distributed in a permanent token buy-back program called “the burn”.

This puts Ethereum in the top 20 entities… pic.twitter.com/ZaGn3C6XVS

— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) April 18, 2024

On April 19, venture capitalist Tomasz Tunguz told his 98,000 X followers that Ethereum “was the most profitable software company in Q1 2024.”

Ethereum generated $370 million in profit on $825 million in revenue for about a 45% net income margin, he added.

“If Ethereum were to trade on the New York Stock Exchange or the NASDAQ, it would top the net income margin (%) charts, with Microsoft, Adobe and Veeva thereafter.”

ETH Price Slides

Nevertheless, ETH markets were getting no love last night, with the asset dropping below $3,000 for the first time in two months.

However, the trend started to change in the following hours, and ETH, alongside the rest of the market, bounced off to about $3,100 as of now.

Still, the asset has now retreated almost 25% from its 2024 peak and remains down 38% from its 2021 all-time high.