The emergence of crypto casinos gave players an efficient and alternative way to enjoy their favorite games of chance. While this was cool at first, the growing popularity of cryptocurrencies has overrun the industry with countless crypto casino sites, many of which can’t be trusted. Now, many players have a hard time choosing the right […]
Bitcoin News
Beyond Bitcoin ETFs: ‘There Are Other Players Controlling This Market’ – Says Analyst
Recent observations by Eric Balchunas, a senior ETF analyst at Bloomberg, suggest that the movements in Bitcoin’s price are influenced by factors beyond just the flows of spot Bitcoin Exchange Traded Funds (ETFs).
According to Balchunas, who shared his insights on X, “bigger forces at work” shape the largest cryptocurrency’s valuation. This indicates that the correlation between spot ETF flows and Bitcoin’s price action is less direct than some assume.
The ETF Influence And Market Movements
This analysis emerges amid a period of significant financial activity for Grayscale, which has seen substantial outflows, described by Balchunas as experiencing a “second wind” of departures.
Yesterday, Grayscale reported outflows of 1.57 million, marking a notable decrease in its Bitcoin holdings by more than 40% since the inception of spot Bitcoin ETFs on January 11.
This scenario highlights a broader narrative within the cryptocurrency investment sphere, where the relationship between ETF activities and Bitcoin’s market performance is complex and multifaceted.
Interesting is price of bitcoin still went up yesterday and yet it went down second half of last week when Ten saw net inflows = there are other players controlling this market. ETFs def a factor but bigger forces at work here.
— Eric Balchunas (@EricBalchunas) March 21, 2024
Despite the record outflows from Grayscale’s GBTC, Bitcoin’s market behavior has shown resilience. The cryptocurrency recently exceeded the ,000 mark before experiencing a slight retracement, currently trading at a price of ,106.
This movement coincides with comments from Federal Reserve Chair Jerome Powell, which seemingly spurred a rally across various risk assets, including cryptocurrencies.
Powell’s reassurances regarding the outlook on rate cuts prompted a slight recovery in Bitcoin’s price, demonstrating how external economic factors and sentiments can impact cryptocurrency markets. It is worth noting that Bitcoin traded below ,000 before the announcement.
On-Chain Insights And Bitcoin Future Prospects
Further deepening the analysis, Charles Edwards, a crypto analyst, recently suggested that pullbacks are common in Bitcoin’s bull runs, with corrections of around 30% within the realm of possibility.
A normal Bitcoin bullrun pullback is 30%. Back in December, we were already in the longest winning streak in Bitcoin’s history. A 20% pullback here takes us to K. A 30% pullback would be K. These are all levels we should be comfortable expecting as possibilities.
— Charles Edwards (@caprioleio) March 19, 2024
In related news, data from the on-chain analysis platform CryptoQuant has recently indicated a nearly 40% reduction in Bitcoin’s supply on exchanges over the past four years.
This trend points towards a bullish sentiment within the Bitcoin ecosystem, suggesting that investors are inclined to hold onto their assets in anticipation of future value increases.
Moreover, CryptoQuant’s data reveals that Bitcoin’s demand has consistently outstripped its supply since 2020, a trend that supports the asset’s value on the premise that scarcity enhances perceived value.
This dynamic is expected to intensify following the upcoming Bitcoin halving event, which will reduce the miners’ supply by half, potentially leading to further increases in Bitcoin’s price.
Featured image from Unsplash, Chart from TradingView
Crypto Industry Players in Hong Kong Call for Swift Approval of Bitcoin ETFs
Authorities in Hong Kong have been urged to approve spot bitcoin exchange-traded funds in order to cement the region’s position as the financial hub of Asia. Industry participants believe that launching this ahead of the U.S. will enhance Hong Kong’s status in the global cryptocurrency market. Approving Spot Ethereum ETFs Ahead the U.S. Players in […]
Bitcoin News
Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players
In the opening fortnight of February, the stablecoin domain expanded by .7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding .5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the stablecoin ethena usde at the forefront […]
Bitcoin News
Moonland Web3 Game Targets 100 Million Daily Active Players as it Gears Towards a March Presale. $MTK Airdrop.
PRESS RELEASE. Blockchain gaming showed more resilience in the bear market. As we entered 2024, many including studio executives predicted millions of people would come to Web3 for the sake of gaming. Some of the attributes strengthening this season’s affinity to gaming hype are the anticipation of more commercial releases from beta versions, the launch […]
Bitcoin News
Whale Alert: Big Players Scoop Up These 4 Altcoins, On-Chain Data Indicates
The transactions of ‘whales’ – large-scale investors – often set the tone for market trends. So far, recent on-chain data from Lookonchain, a renowned on-chain analytics platform, has unveiled a notable accumulation pattern in four specific altcoins.
Maker (MKR), ssv.network (SSV), Coin98 (C98), and RSS3 have emerged as the latest targets of these accumulative efforts. The data shows a series of substantial withdrawals of altcoins from Binance, a leading crypto exchange, hinting at a growing interest in these altcoins among heavyweight investors.
Notably, this trend of whale accumulation is not just a fleeting occurrence but a concerted effort that has been unfolding over recent months.
Diving Deep Into Whale Transactions: A Closer Look at the Accumulated Altcoins
The analysis by Lookonchain reveals intriguing details about the accumulated assets. A new wallet, identified as “0xB4aE”, mainly made waves by withdrawing 10 million RSS3 tokens, valued at approximately .44 million, from the OKX exchange.
This transaction underscores the growing interest in RSS3, a lesser-known crypto asset. In parallel, another prominent wallet, dubbed “0xb6a7”, substantially withdrew 114,227 SSV tokens from Binance, amounting to a value of about .93 million.
1/ We noticed that whale/fresh wallets are accumulating $MKR, $SSV, $C98 and $RSS3.
pic.twitter.com/AOIlNTVyux
— Lookonchain (@lookonchain) November 22, 2023
This same investor also transferred 2.77 million C98 tokens from Binance, signaling a bullish stance on these specific altcoins. It is worth noting that these transactions exemplify the strategic moves by whales, often aimed at leveraging market dynamics to their advantage.
The Maker (MKR) Movement: Whale “0x9e74 Leads the Charge
One of the most significant players in this scenario is the whale wallet “0x9e74”. Since July 2023, this investor has consistently withdrawn Maker (MKR) tokens from Binance, totaling roughly 4,776 MKR.
The most recent transaction involved moving .7 million worth of MKR from the exchange, bringing the total worth of MKR withdrawn by this investor to about .9 million. This consistent and targeted accumulation of MKR suggests a strong confidence in the future of this particular altcoin.
The Maker token, part of the MakerDAO ecosystem, has been a subject of interest, mainly due to its role in decentralized finance (DeFi) as a lender.
These large-scale movements by whales underscore a broader trend within the crypto world, where informed players are increasingly steering towards altcoins with strong fundamentals and potential for substantial growth.
Amid the accumulation of the altcoins above by whales, RSS3 and Maker are still the top gainers, with both altcoins seeing a surge in price by 34.8% and 10.7%, respectively, over the past two weeks.
The remaining two altcoins, however, have seen slight gains and decline, with SSV seeing a mere 4.8% increase and C98 seeing an 8.6% plunge over the same period.
Featured image from iStock Chart from TradingView
Red Hot Ethereum: Breach Of $2,000 Draws Major Players Into the Fray
The price of Ethereum (ETH) exhibited superior performance compared to Bitcoin (BTC) in the previous week, mostly because of the registration of Blackrock’s Spot ETF, which instilled optimism that ETH will surpass its previous peak in 2023 and exceed ,500.
In a groundbreaking twist since the Ethereum (ETH) Shanghai upgrade earlier this year, the value of Ether has triumphantly surpassed the ,000 milestone, propelled by the recent surge in Bitcoin (BTC) towards the ,000 mark.
Ethereum Breaks Past K
At the time of writing, ETH was trading at ,054, up 7% in the last seven days, data from CoinMarketCap shows.
Despite the lingering uncertainty, cryptocurrency aficionados exude optimism, envisioning forthcoming profits as certain investors, driven by impatience, eagerly await the unfolding market dynamics.
Cryptocurrency on-chain data analysis firm Lookonchain unveils a spectacle of whale activity amidst the surge in Ethereum prices. The report highlights notable transactions, with one whale raking in a staggering 4 million profit, while another faces a substantial loss of 3 million.
Bullish or Bearish on $ETH?
Did SmartMoneys and Whales buy or sell $ETH over the past week?
1/
Here is a thread. pic.twitter.com/8yvCO0UI9H
— Lookonchain (@lookonchain) November 14, 2023
Within the thread, Lookonchain zoomed its lens on the whale using the “0xee47” address, showcasing a remarkable uptick in their Ethereum holdings by 3,200 ETH, equivalent to an impressive .7 million. The buildup signifies a significant advancement subsequent to the whale’s debut venture into ETH buys on July 5, 2022.
Currently, their portfolio consists of a significant amount of 183,740 ETH, which is estimated to be worth nearly 8 million. This indicates an unrealized profit of approximately 5 million.
ETH Price Gets Boost From Spot ETF Filing
Last week, the price of Ethereum experienced a significant increase, surpassing the ,000 mark. This spike was attributed to the confirmation by BlackRock, a prominent investment management company, regarding their intentions to introduce an Ethereum Spot Exchange-Traded Fund (ETF).
This confirmation was made through a filing with the NASDAQ. According to on-chain data, a group of financially astute institutional investors engaged in significant purchases of Ether over the weekend, amounting to millions of dollars. This activity is likely a response to a positive news event that has generated optimism in the market.
The latest on-chain data supported the positive outlook for ETH. In particular whale transactions valued over a million dollars surged to their highest levels in seven months, as shown in the chart above.
Also, it was clear that the number of exchange names had grown. This supported earlier claims that whales were moving their hoards to make money.
(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 Rhys A. via Flickr
Justbit: Why Many Players Win or Lose at the Casino and How RTP Works
The surge in online gaming platforms has marked a transformative era in the casino industry, providing gaming enthusiasts with the opportunity to experience their favorite games from the comfort of their homes. Amidst this digital revolution, JustBit emerges as a distinctive platform that has captivated a multitude of gamers with its extensive selection of games and flexible deposit methods. In this comprehensive review, we delve into the captivating world of online casinos, unraveling the reasons behind the wins and losses, unpacking the essential concept of Return to Player (RTP), and shedding light on the unique features that render Justbit an enticing choice for online gaming.
The JustBit Experience: An Introduction
Justbit, licensed by Curacao, has etched a space for itself in the online casino world. The platform boasts an impressive assortment of over 3000 games from various leading software providers. From traditional games like Roulette and Poker to more contemporary ones like Keno and Bingo, there’s something for every gamer on JustBit.
Apart from the game catalogue, the platform’s deposit options make it stand out. JustBit accepts a wide range of both fiat currencies and cryptocurrencies, such as:
The minimum deposit limit is 20 EUR or its equivalent value in other currencies, making it accessible to a broad user base.
For payouts, Justbit ensures swift processing. The payout duration varies based on the method, with eWallets and Credit/Debit Cards taking up to an hour and Bank Transfers taking up to 8 hours. You can get started on Justbit using this link: https://trackingjustbit.io/d6fa265fc .
Casino Gameplay: Winning and Losing Explained
To comprehend why players win or lose at casinos, we need to delve into the underlying mechanisms of casino games. Casinos, including online ones like JustBit, use a system called Random Number Generator (RNG) to ensure fair gameplay.
The Role of RNG in Casinos
RNG, standing for Random Number Generator, ensures a diverse array of results with every interaction in games such as slots, poker, blackjack, and roulette. The outcomes are consistently spontaneous, unaffected by any prior results, providing players with a genuinely impartial gaming encounter across websites, including JustBit.
However, the element of randomness also implies that outcomes are mostly down to luck. While the player has a mathematical edge, it doesn’t guarantee that the player always wins. Players may hit winning streaks or endure losing streaks, all due to the RNG mechanism. Hence, it’s crucial for players to view casino games primarily as a form of entertainment rather than a consistent source of income.
The Influence of Strategy on Game Outcomes
In the realm of casino games, it’s common for players to credit victories or defeats to the caprices of fortune. However, while fortune indeed plays a pivotal role in numerous casino games, it’s crucial to understand that it’s not the solitary determinant. For some games, implementing strategic thought and thoroughly comprehending the game’s regulations can notably sway your prospects of clinching a victory. This thrilling intersection of expertise, planning, and probability constitutes the real allure of casino games across websites such as JustBit.
Mastering the Art of Strategy in Casino Games
A number of casino games, like Blackjack and Poker, don’t solely rely on the unpredictable hand of fate. Instead, these games open up a space for strategic decisions that can markedly impact your chances of victory. Understanding the rules of the game forms the basic foundation here. Grasping the different hand combinations in Poker or knowing when to hit, stand, or double down in Blackjack can significantly affect the game’s outcome.
In addition to the rules, acquiring knowledge of basic strategies is equally critical. For instance, Blackjack strategy charts provide a mathematical breakdown of the best decisions to make based on your cards and the dealer’s face-up card. On the other hand, in Poker, knowing when to fold and when to raise, reading your opponents’ behaviors, and managing your poker bankroll are strategies that can reduce and increase your winning potential.
The Role of Luck: A Constant Variable in Casino Games
Despite the strategic elements, it’s important to remember that no strategy can guarantee a win in these games. The variable of luck ensures a certain level of unpredictability in every game round. This means that even the most experienced players armed with fail-proof strategies can occasionally lose to beginners.
These scenarios highlight the fundamental element of chance in casino games, reminding us that while strategies can significantly enhance the gameplay and boost your winning potential, they can’t promise consistent triumphs. This unpredictability ultimately infuses these games with their sense of thrill and engagement over websites, JustBit being a case in point.
Psychology’s Impact on Casino Outcomes
When pondering over casino games, our thoughts frequently gravitate toward components such as fortune, probability, and tactical moves. Even though these elements definitively mold the casino gameplay arena, a nuanced yet potent facet carries significant weight in dictating outcomes – the player’s psychology. As a profound interaction of mental operations and emotional reactions, human psychology profoundly influences the actions we undertake, the choices we execute, and our responses to the results when engaged in games over web-based venues like JustBit.
The Thrill of Anticipation and the Pleasure of Reward
One of the most fascinating psychological aspects at play in casino gaming is the thrill of anticipation. As players place their bets and await the outcome, an intense sense of excitement builds up. This feeling is linked to the release of dopamine, a neurotransmitter in our brain associated with pleasure and reward. When we anticipate a potentially rewarding activity, such as hitting a winning combination in a slot game on JustBit, our brain releases dopamine, creating feelings of enjoyment and satisfaction.
RTP (Return to Player)
The world of online casinos is fascinating, brimming with colorful graphics, exciting sounds, and the constant thrill of potential winnings. While these elements make for an engaging experience, understanding some of the key terminologies used in the industry can elevate your gaming adventure, offering you insights that could potentially help your gameplay strategy.
One such term is the RTP, which stands for Return to Player. Although it might sound complicated, the concept behind RTP is quite straightforward. To put it in simple terms, RTP is a measure that tells you how much a particular casino game is designed to pay back to its players over an extended period. It’s a theoretical figure calculated based on thousands, if not millions, of game rounds.
Imagine you’re playing a slot game with an RTP of 96%. This percentage indicates that over a long timeline, the game will give back 96 EUR for every 100 EUR that players put into it. However, this doesn’t mean that if you, as an individual player, wager 100 EUR, you’re guaranteed to receive 96 EUR back. Some players might win a jackpot, while others might get less than 96 EUR. This scenario underscores the random nature of casino games, where winning or losing primarily depends on luck.
Why RTP Matters?
Grasping the concept of RTP can substantially impact your gaming choices on platforms like JustBit. Each game’s RTP is a consideration, with a Blackjack game potentially offering over 99% RTP and certain slots offering around 95%.
RTP can shape your gaming approach. High RTP games might appeal to those avoiding risks, while those seeking thrill may choose lower RTP games. However, your decision shouldn’t hinge solely on RTP. Your familiarity with the game, its enjoyment level, and volatility should also play a part.
Exploring the Exclusive Bonus Structure at Justbit
Justbit stands out with its innovative array of bonuses and promotions designed to optimize players’ potential for success. Among its impressive offerings is an industry-leading 45% cashback benefit, acting as a protective shield, enabling players to recoup a considerable proportion of their losses. This feature creates an environment where players can delve deeper into the immersive world of online casinos while minimizing financial risks.
Moreover, Justbit enhances its user experience with abundant welcome bonuses and deposit bonuses, further fueling the allure of gameplay. These promotional offers do more than just heighten the excitement; they prolong the duration of a player’s gaming session, thereby amplifying the potential for victorious outcomes.
In Conclusion: Balancing Luck, Strategy, and Knowledge for an Elevated Experience
Engaging in online casino games, such as those offered on JustBit, presents an intricate blend of luck, strategy, and the understanding of crucial concepts like RTP. While the adrenaline rush of a major win can be thrilling, it’s critical to approach casino games with a grasp of their inherent volatility and to practice responsible gambling. By gaining a deeper understanding of how winning and losing mechanisms work and the significant role of RTP, players can ensure their casino experience is more informed and more enjoyable on platforms like Justbit.
Referral Link
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Okx to Launch Okx Collective, a Metaverse Experience Powered by Manchester City Soccer Players
Okx, one of the largest cryptocurrency exchanges in the market, has announced the launch of its soccer-focused metaverse experience, called the “Okx Collective.” The immersive experience will include Jack Grealish, Rúben Dias, Ilkay Gündoğan, and Alex Greenwood, stars from Manchester City, the reigning champion of the Premier League.
Okx To Launch Okx Collective Metaverse
Sports clubs and their players are more and more inclined to tailor metaverse platforms to offer new immersive experiences to fans. Okx, one of the biggest cryptocurrency exchanges by volume traded, will launch its own metaverse experience specially tailored for soccer fans.
The company has partnered with a group of players of the reigning champion of the Premier League, U.K.’s first-division soccer league, to create a platform for fans to engage with their stars and get a glimpse of their activities on and off the field. In a press release, the exchange explained the collective will provide a glimpse into the lives of these stars, who will lend their exclusive training music, content, and NFT-based digital experiences to the platform.
Soccer clubs have been particularly interested and active when it comes to adding more experiences of this kind to enrich and tighten the relationship with their fans. On the intersection between soccer and metaverse tech, Haider Rafique, CMO at Okx, stated:
Introducing elite footballers to our newly established metaverse is about sharing the boundless possibilities of Web3 and inviting fans to experience it first-hand. Web3 has the potential to be bigger than everything that came before it.
Featured Players and Background
The players in Okx collective come from diverse backgrounds. Four Manchester City will provide their content to the platform, including veteran Ilkay Gündoğan, Jack Grealish, Ruben Santos, and Alex Greenwood from the rows of the women’s Manchester City team. Grealish believes that bringing soccer to the metaverse will offer fans a new panorama of the sport. He explained:
Combining football and the metaverse brings fans closer to the action! I’ve had a lot of fun bringing my digital profile to life with the support of the Club and Okx.
Greenwood stated this connection with the metaverse and the digital world might be beneficial for the ecosystem. She stated:
We talk a lot about the evolution of football, and it feels as though exploring this space is the next step.
Other European soccer clubs like Real Madrid and FC Barcelona, and even leagues like the Spanish Laliga have also launched metaverse and NFT-based initiatives before, with mixed results.
What do you think about the launch of the Okx Collective? Tell us in the comments section below.