PRESS RELEASE. Astra Nova, the pioneering Web3 RPG from Saudi Arabia, is excited to announce the launch of its SocialFi platform, The Black Pass. This innovative platform is accessible through a free soulbound NFT and offers a competitive edge by tracking players’ in-game activity. On The Black Pass, users embark on social quests and collect […]
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Immutable Momentum: IMX Rockets To $2.21, Scaling Heights Unseen Since 2022
Immutable and its native IMX token deviate from the current cryptocurrency market downturn triggered by declines in Bitcoin and Ethereum. While most prominent gaming tokens have followed suit, experiencing a decrease in value since late Sunday, this pattern highlights the interconnected nature of digital assets.
Despite market volatility, the IMX token fights the downward pressure and continues its previous upward trajectory, demonstrating a unique resilience and potential decoupling from cryptocurrency correlation.
Immutable’s IMX Hits Milestone
The trajectory of Immutable’s IMX token has been characterized by a rapid and substantial increase in value since October. This upward movement reached its zenith today, as the IMX token breached past the key level.
At the time of writing, IMX was trading at .01, up 42% in the last seven days, data from CoinMarketCap shows.
Such a peak represents a significant milestone for the token, as it marks a level that had not been reached since April 2022. This extended duration underscores the significance of the current price surge, suggesting a notable departure from the historical price trends of the IMX token.
With a market valuation of more than .8 billion, Immutable X is one of the largest layer-2 networks globally. It is a network that is essential to the non-fungible token (NFT) and gaming industries.
The organization has collaborated with some of the major names in the gaming sector in the last few years. Companies like Merit Circle, Illuvium, Unity, Ubisoft, and StarkWare are a few of the most renowned partners.
In an effort to transform gaming on Beam in the future, the network has partnered with Merit Circle DAO and GameStop, two of the biggest American retailers.
In order to establish Transak as the “principal payments partner” for Immutable Checkout on the zkEVM network, Immutable established a new partnership with the payments processor on Monday.
Because of Immutable X’s low transaction costs, Ethereum-grade security, speedy transaction rates, and user-friendliness, developers adore it. Additionally, it contains all the tools required by developers to create scalable games, including Orderbook, Marketplace, Checkout, and Passport.
IMX Price Prediction
With 18 of the 30 (or 60%) green days and 11.72% price volatility over the past 30 days, Immutable X is still attracting the interest of investors. Likewise, Immutable’s future appears bright as 27 technical indicators are glowing green.
The CoinMarketCap ranking of the IMX token has increased to 29th. The spike is in reaction to VanEck’s claim that the introduction of new blockchain-based video games, such Illuvium, which is due out next year, may raise the value of the IMX token.
Immutable has also been trying to fix many of the technological pain points that have hampered the success of Web3 gaming thus far, according to VanEck.
Meanwhile, Coincodex’s current Immutable price prediction indicates that this week’s price of Immutable will fall by -7.18% to $ 0.003929.
The coin’s technical indicators show a bearish attitude at the moment, despite the Fear & Greed Index hitting 65 (Greed).
Featured image from Shutterstock
Immutable X Cements Position With 32% Rally – How Far Is IMX Heading?
Celebrated as the paramount force in the realm of Web3 gaming, Immutable X (IMX) has emerged as the go-to blockchain, steering the course for NFTs and in-game transactions.
This blockchain powerhouse has solidified its position as the industry leader, particularly renowned for its association with blockbuster titles such as Gods Unchained and Guild of Guardians.
The native token IMX of Immutable X has had an amazing upswing, rising by an astounding 140%, in an intriguing turn of events. From the bottom of a bear market, when it was trading at under .50, it has made a spectacular comeback and is currently trading at a healthy .12.
Immutable X: Distinctive Mark On Digital Horizon
With the yearly high of .56, which was reached in March, rapidly approaching, it begs the crucial question: Will this increasing trend in values continue? The scene is set, the figures are moving, and analysts keep a close tab on the next developments in IMX’s financial story.
In the ever-evolving landscape of digital entertainment and blockchain technology, Immutable X has carved a niche for itself by not only powering but revolutionizing the gaming experience.
Distinguishing itself by dedicating its prowess solely to the gaming and NFT sectors, Immutable X has successfully lured projects that once called other chains home.
Immutable has recently announced a new collaboration with Ubisoft, a prominent gaming company known for its successful series such as Assassin’s Creed and Prince of Persia. This relationship marks a significant advancement for the platform.
Ubisoft’s partnership with Immutable seeks to smoothly incorporate decentralized technology into games, emphasizing player ownership and enjoyment despite recent setbacks in its NFT attempts.
In response to the recent statement made by Ubisoft, there has been a significant market rally for IMX. Over the course of the previous week, the price of the token has experienced a notable increase of more than 30%.
Strong Collaboration And ‘Digital Ownership’
Immutable CEO and co-founder James Ferguson stated that the collaboration between the two companies will provide players with “digital ownership.”
In a released statement, Ferguson expressed the intention to leverage the full strength of their ecosystem to guarantee the success of the partnership. He expressed confidence in delivering a novel and captivating experience that players will thoroughly enjoy.
Coming up to the last quarter of 2023, DigitalCoinPrice predicts a bright future for IMX, with the token rising to about .17.
Conversely, Coincodex presents a more negative outlook, projecting that the token will trade between .028443 and .308523 for the balance of the year.
This suggests a period of relative stability for IMX on average, with the token predicted to continue on a flat trajectory until the start of 2024.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from PlayToEarnGames.com
Immutable (IMX) Up By 23% In A Single Day, Analyst Suspects Market Manipulation
IMX, native token of Ethereum layer-2 scaling solution Immutable X, recorded massive gains on Thursday, soaring by over 23% within the last 24 hours. Before this price gain, IMX had been relatively stable all week, hovering around the .52 price zone, according to data from Coingecko.
Behind IMX’s Rise, Analysts Points To Price Manipulation
Although there may be no clear reasons for the token’s positive price movement, Chinese reporter Colin Wu speculated about potential price speculation.
According to a post on X by Wu, 10.95 million of the token, valued at .1 million, were transferred to the Upbit exchange from several other crypto exchanges, including Binance, OKX, Bybit, Crypto.com, Gate, etc.
Korean traders are manipulating the price of IMX and driving a surge. Today, 10.95 million IMX (.1 million) flowed into Upbit from multiple CEXs such as Binance, OKX, Bybit, Cryptocom, Gate, etc. The price quickly rose from US.56 to US. https://t.co/JjUcqi7CKS
— Wu Blockchain (@WuBlockchain) September 21, 2023
Following these transactions, the token surged from .56 to .74, representing a 34.5% price gain. Wu has stated that Korean traders are “behind this move.” The Upbit exchange is mainly popular in South Korea, dominating over 83% of the nation’s crypto market.
Providing more insight into these transactions, on-chain analytics firm Lookonchain reports that these transfers to Upbit were sent to the same wallet with the address “0x2F77.” This indicates a single crypto whale was likely behind this price surge.
Within three hours on Thursday, 12.54 million of the token, valued at .45 million, was transferred to “0x2F77,” allowing this address to become the 9th largest holder of the token, owning 20.4 million worth million.
Furthermore, Lookonchain also revealed that several IMX investors opted to take profit following the token’s price gain. These investors include GSR Markets, a crypto investment firm that moved 2 million IMX, worth .52 million, to Binance right after IMX rose.
In addition, three investors withdrew 3.5 million IMX, valued at .3 million, from the Foundation Treasury Locked wallet and may be planning a market dump. Following such transactions, it is no surprise that IMX soon experienced a price decline of about 13.33% a few hours after its boost.
IMX Gets Listed On Japanese Exchange
In other news, IMX has also been listed on the Japanese exchange Coincheck. According to a blog post by the crypto exchange on Thursday, IMX will now be eligible for its various services, including Coincheck NFT and Coincheck crypto lending service.
In addition to IMX, Coincheck also announced listing other cryptocurrencies, namely Apecoin (APE) and AXS, the governance token of the Axie Infinity gaming metaverse.
At the time of writing, the IMX trades at around .64, with a price loss of 1.8% in the last hour. Based on more data from Coingecko, the token’s daily trading volume rose by 238.20%, valued at 8.50 million.
Bitcoin’s 21 Million Supply Cap: Immutable Truth or Future Flexibility?
This week, the crypto community is abuzz with discussions about Bitcoin’s 21 million supply cap and the potential for its alteration. On September 4, in a social media exchange, software developer and Bitcoin Core contributor Peter Todd expressed his belief that in “10-20 years the idea of a hard fork to add a small tail emission may not be so controversial any more.” Todd’s remarks ignited a flurry of reactions from crypto aficionados who took issue with his statement.
Rethinking Bitcoin’s 21 Million: A Controversial Crypto Conversation
Many firmly hold that Bitcoin’s 21 million supply cap is unchangeable, yet recent chatter suggests otherwise. A discussion ignited on the social media platform X (previously known as Twitter) when Cake Group’s CEO, Dr. Julian Hosp, penned an X post declaring, “Bitcoin is neither scarce nor rare … it is limited.” The discourse then shifted to remarks Peter Todd made during a chat with Peter McCormack on the What Bitcoin Did podcast. Back in 2019, Todd opined that “Bitcoin should have had a 0.1% or 1% monetary inflation tax to pay for security.”
How to drop the 21 million coin cap?
Easy-peasy! You just change this tiny function in Bitcoin's code and say (mysteriously and expertously) that there's a "coNsEnSUs" for that: pic.twitter.com/mDrK2SpLmo
— Nikita Zhavoronkov (@nikzh) September 5, 2023
On September 3, Todd responded to Hosp’s X thread, elaborating on his belief that a “small tail emission would converge towards a stable monetary supply.” In a subsequent X post, Todd speculated, “I think in, say, 10-20 years the idea of a hard fork to add a small tail emission may not be so controversial any more, and the community as a whole might accept it.” This remark didn’t sit well with many, leading to a slew of criticisms and rebukes against his statement. For instance, Blockchair’s lead developer, Nikita Zhavoronkov, weighed in on Todd’s remark.
“Bitcoin Core is already laying the ground for dismantling the 21 million coin limit,” Zhavoronkov said. “This will be their ‘not so controversial’ solution to the security budget issue. Zhavoronkov ridiculed the developers who won’t increase the block size or consider implementing Drivechains, but think removing the 21 million limit is not so controversial.
“Bitcoin Core is already laying the ground for dismantling the 21 million coin limit,” remarked Zhavoronkov. “This will be their ‘not so controversial’ solution to the security budget issue.” The developer scoffed at programmers reluctant to expand the block size or consider Drivechains, who yet find altering the 21 million limit less contentious. Many voiced concerns, suggesting that altering the supply limit could spell disaster. “The moment you change the fixed supply, the moment Bitcoin can be used as collateral for issuing credit. It becomes part of the financial system,” one commentator elucidated. They further emphasized:
Never change the supply. It’s the most important thing.
Hosp chimed in on Todd’s assertion, finding himself more aligned with the developer’s perspective. “Peter was one of the earliest Bitcoin Core devs that I ever met… I think in 2015 in Hong Kong,” Hosp stated. “I always love and respect his insights. I so appreciate him being intellectually honest about being clear that we will probably have more than [21 million bitcoin] … and it is absolutely fine! 100% aligned.” The blockchain’s supply limit has been a hot topic before in the ecosystem. Back in 2019, during the Satoshi Roundtable, Matt Luongo and attendees delved into the idea of increasing Bitcoin’s 21 million supply cap.
That specific debate also sparked a flurry of responses back then. While some remarks were more tempered, Bitcoin.org’s owner, Cobra Bitcoin, emphatically stated, “There will only ever be 21 million bitcoins. If you have a problem with that, get the f*** out of our community because you aren’t welcome.” Similarly, much like the U.S. Constitution, future generations might perceive things differently than their forebears did years earlier, and they have the power to amend once-revered accords.
Bitcoin operates under code-driven rules, yet it’s also tethered to a social agreement that might shift if upcoming generations don’t hold the supply limit in the same regard. Moreover, when influential figures suggest that such changes might be less contentious now, younger generations might be more inclined to embrace this perspective rather than dismiss it based on long-standing beliefs.
What do you think about the conversations concerning increasing Bitcoin’s overall supply past 21 million? Share your thoughts and opinions about this subject in the comments section below.
Art Resides in Ethereum’s Immutable Ledger, ETH Down 9.9%
- ETH firm above 0
- Nexus Mutual and Argent partnering, will avail bank-account grade security
Ida Jonsson and Simon Saarinen are paying homage to the Circle Game. By immutably burying three ASCII Permanent Penises, the artists will be maintaining their culture. While at it, ETH is steady in the last 24 hours.
Ethereum Price Analysis
Fundamentals
Well, art is all about inspiration. Artists are creatives, and blockchain is their new playground. Two Swedish conceptual artists, Ida Jonsson and Simon Saarinen, are taking expressiveness to the next level. They have buried the first of the three ASCII Permanent Penises in the Ethereum blockchain.
The image of a phallus is now inside an ETH transaction. According to reports, the Permanent Phallus will be paying homage to the Circle Game. Commenting on this “interesting” development, Ida Jonsson said:
“Ever since I heard about the blockchain and its immutable character, I’ve been insanely intrigued by the thought of embedding art on it. For as long as art has existed, people have been obsessed with portraying penises. Maintaining this important piece of culture just felt like the right thing to do.”
Their decision to leverage DLT is a thumb of approval and of trust. Perhaps that is the reason why two Ethereum startups are teaming up to avail bank-account grade security. Making use of smart contracts, Nexus Mutual will insure Argent’s clients against loss resulting from hackers. By freezing transactions triggered above daily limits, a user will have control preventing his/her account from being drained.
Candlestick Arrangement
After a distressing week, Ethereum (ETH) is steadying above 0. However, this is not to say that ETH bulls are in control. If anything, there are flickers of weakness. As a result, the failure of buyers to authoritatively respond after four days of lower lows could spur sellers.
Besides, considering the level of participation behind June 3rd and 4th drawdown, bears have the upper hand. Nonetheless, and per previous ETH/USD trade plans, the best approach is for traders to wait for a clear-cut opportunity.
Therefore, any weakness driving ETH below 0 could spur liquidation towards 0. On the other hand, an expansion of price towards the all-important 0 the back of high trade volumes could open up ETH scene for 0 and 0.
Technical Indicators
To sync with current price trend and candlestick alignment, May 30th bear candlestick guides this trade plan. Mentioned before, selloffs or surges above 0 or below 0 ought to be with high participation exceeding 410k of May 30th. Such a move will confirm or cancel this trade plan.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Art Resides in Ethereum’s Immutable Ledger, ETH Down 9.9% appeared first on NewsBTC.
Mastercard Patent Filings Tout Blockchain for Immutable Data Records
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