Category Archives: ALTCOIN NEWS

ALTCOIN NEWS

Binance explores Squid Game token

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Crypto exchange Binance is investigating the SQUID token collapse and considers it a scam, one of the Binance authorized essentialists told CoinDesk.

A Binance spokesperson said it is exploring options to help those who are hurt, including “blacklisting developer-linked addresses and deploying blockchain analytics to identify bad actors.”

The play-to-win SQUID protocol is built on Binance Smart Chain (BSC), but Binance says BSC is an open-source ecosystem, so the company has no oversight over projects built on the network.

“Such scam projects have become very common in the DeFi space, as speculative crypto investors looking for the next ‘moon shot’ are quick to invest in projects without proper due diligence,” the spokesperson said.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua

ALTCOIN NEWS

Avalanche Foundation announces $220 Million Investment Fund

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Avalanche will attract the attention of big companies. Avalanche Foundation Launches $220 Million Investment Fund. The funds will be used to invest in the protocol’s capabilities for DeFi, NFTs and enterprise applications. Avalanche is the latest Tier 1 smart contract protocol to announce it’s deepening its pockets. The new funds will go towards developing various capabilities of the protocol, including DeFi, enterprise applications and NFTs.

Blizzard’s funds will be allocated to the goal of accelerated development, innovation and growth of the protocol. More specifically, its focus is on DeFi, enterprise applications, NFTs, and “other emerging use cases such as security token issuances, liquidity providers, and self-sovereign identity.”

Read More Source: cryptobriefing.com

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS

Ripple partner launches cross-border payment corridor to Mongolia

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Every day, we see traditional financial institutions scrambling to understand crypto strategy, and understandably so. Crypto has passed the tipping point of mainstream consciousness. Use cases like cross-border payments are strictly outside the sandbox stage.

Ripple is taking new steps in cross-border payments with crypto over traditional fiat. Ripple’s fintech network, RippleNet, or its other partner, Tranglo, has taken control of remittances around the world.

Tranglo Mongolia launches new cross-border payment corridor. The Singapore-based company will do so “through a single link to regional corridors and local partners.” Mainly to improve cross-border payments in this East-Asian region. It will offer a variety of different payment and pickup methods such as direct bank transfers and cash pickup. It could also potentially be used beyond blockchain-powered techniques.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS

Goldman Sachs forecast Ethereum could hit $8,000 by year end

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He said Goldman Sachs predicts that the Ethereum price could rise to $8,000 by the end of the year. Analysts at Goldman Sachs explained in a statement that “cryptocurrencies have been trading in line with inflation breakouts since 2019.”

Goldman Sachs reportedly announced in a research note distributed by Bernhard Rzymelka, managing director of Global Markets, that the price of Ethereum (ETH) could reach $8,000 by the end of the year.

Citing a chart showing the Bloomberg Galaxy Crypto Index (red) on a log axis and a 2-year forward 2-year inflation swap (blue), Goldman’s analysts noted that “the local floor appears to be supportive for ethereum.”

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS

Fake ‘SQUID’ crypto has lost almost 99.99%

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Netflix’s South Korean series Squid Game became a series watched worldwide. The popularity of the knee has prompted scammers, and cryptos related to Squid Game have begun to be issued. Those who buy fake cryptos are now losing their money.

Everyone thought so! What else would explain the maniac rise of the SQUID token, a “play-to-earn” crypto, which, in keeping with the show’s game theme, requires individuals to buy tokens to compete in online games, and earning further tokens subject to their win, from a meager Rs 1,000 to almost Rs 3.45 lakhs, all in less than 100 hours? The crypto zoomed over 2,400 percent in just 24 hours, taking its market capitalisation to 174 million dollars, sky-high for a nascent cryptocurrency like it was. In fact, the coin, which started its pre-sale on October 20, was sold out in a single second!

coinmarketcap.com 11 November 2021

In what can only be described as a textbook case of rug-pull, where developers abandon the project and siphon away all investor funds, the SQUID token nosedived by more than 99 percent, wiping off the entirety of its gains, peaking at as much as 2,861 dollars to crash-diving below 1 dollar in just a few seconds. 

This happened shortly after Twitter flagged the official account as suspicious, with just over 7 lakh subscribers as suspicious. Per Coinmarketcap, at the time of writing, the token still has an unverified, self-reported market cap of 1,802,875 dollars, down by almost 99.99 percent. Notably, the whitepaper and the official website of the token have vanished entirely. 

source: moneycontrol.com

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS

Facebook Meta branding caused MANA to jump 400%

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Facebook’s well-publicized (and often ridiculed) rebrand brought to the fore MANA, a cryptocurrency most people have never heard of before, resulting in a 462% increase in price over the weekend, with a three-day price increase.

The crypto has since lost some ground and is currently trading at $3.13, according to Coinbase. That’s still a 306% increase from October 27, the day before Facebook announced its rebranding.

MANA is the icon for Decentraland, which describes itself as a metaverse platform that allows users to buy and sell virtual properties. The token runs on the Ethereum blockchain.

Decentraland itself provides a game-like atmosphere where people create virtual lands and others explore them and participate in social games. Visually, it’s no different from Roblox or Second Life.

Using MANA, visitors can purchase “properties” or upgrade to their desired environment. They can also buy and sell items for use in the virtual world and list their properties for sale. (Prices range from 30,000 MANA to 1 million.)

Facebook’s big bet on the metaverse has sparked interest in many companies focused on this space. Decentraland works a little differently in the virtual world than Facebook expects, but focuses on user-generated content that enables people to make money for themselves, rather than walled gardens that can enrich companies.

MANA isn’t the only cryptocurrency that has seen a surge since Facebook changed its name. Another virtual world, Sandbox’s token SAND, rose 176% to over $2 on Monday from 74¢ on October 27. (At this weekend’s peak, SAND was up 218% at $2.35.)

source: Fortune

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS

Crypto Island Announces Its Establishment

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Crypto Island (CISLA), The World’s First Private Island Acquisition and Decentralized Project, Announces Its Establishment. Crypto Island, a blockchain-based project run by its community, offers investors and crypto enthusiasts the chance to co-own the world’s first community-owned decentralized private island.

The highly anticipated startup of Crypto Island went official this week as their newly established legal structure is set for release. In detail, Crypto Island will legally form an independent entity on behalf of Crypto Island Group Incorporated. This entity will function as a token issuer in a very complex corporate structure set up to make it possible to tokenize ownership of the island.

With this company structure, Crypto Island is the first project to set up a structure to actually use a functional way to tokenize real estate. With this merger, Crypto Island is one step closer to achieving its goals of acquiring the first decentralized private island.

chart coinmarketcap

Dan Bouwer, one of the founders and current CEO of Crypto Island, is delighted with the acceptance and is confident that it will take the concept of a cryptocurrency-based community to the next level.

ALTCOIN NEWS

Famous analyst Michaël van de Poppe warns Shiba Inu (SHIB) investors

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A famous crypto analyst, Michaël van de Poppe, announced that he is not a fan of the meme coin Shiba Inu (SHIB), which has hit a big break this week, and warned investors.

Michaël van de Poppe has warned his 458,400 Twitter followers not to fall into the trap of potential FOMO on SHIB. The analyst also said that he hopes SHIB will disappear and it is better to look for other opportunities instead.

Michaël van de Poppe also said: “SHIB experienced a heavy correction of about 30-40% in a few hours. I hope you didn’t buy it last night after feeling the FOMO about investing in that cryptocurrency. There are lots of other great opportunities around.”

Michaël van de Poppe on the SHIB rally; He expressed disappointment that SHIB is diverting attention from other crypto projects involving decentralized finance (DeFi), decentralized autonomous organizations (DAOs) and non-fungible tokens (NFTs). completed it.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

ALTCOIN NEWS, MARKETS NEWS

Helium to partner with Dish Network

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Helium is partnering with Dish Network to expand its crypto-based distributed 5G platform. Helium is a project focused on the 5G Internet of Things. On October 26, it was announced that it has taken an important step towards further expansion as a new partner with Dish Network.

According to the announcement, the partnership will offer Dish Network subscribers the opportunity to operate Helium nodes and earn HNT token rewards for sharing 5G wireless services with people in their region.

The Dish Network partnership is the latest in a year of intense growth for the Helium network, which currently has more than 256,000 individual nodes operated by 93,561 users worldwide. This partnership with Dish Network was made possible by a community vote in April and through partnership with FreedomFi approved the addition of a second 5G-capable network to the protocol. This will enable Helium to offer support for devices such as smartphones, tablets and laptops.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.