- CryptoUnity is a Slovenian start-up that is building a beginner-focused crypto exchange.
- The cryptocurrency exchange seeks to close the gap for beginners in the ecosystem and provides users with a secure way of storing funds.
- CUT is the utility token that powers the CryptoUnity ecosystem and provides holders with many different benefits and utility cases on the platform.
CryptoUnity is a Slovenian start-up that is building a beginner-focused crypto exchange. The user-friendly interface and comprehensive educational resources on CryptoUnity are designed to make the world of cryptocurrency more accessible and less intimidating to beginners. In addition to its user-friendly nature, CryptoUnity is also focusing on the safety aspect of crypto. The crypto exchange has implemented the cold wallet with an NFC card, providing its users with a secure way of storing funds. Its partnership with Lenovo, one of the leading tech companies in the world, also serves as a positive for the company. The crypto space is all about transparency, and CryptoUnity also pays attention to that. So far, CryptoUnity has passed audits by QuilAudits and CertiK. The project received a CertiK KYC Gold badge (meaning that the entire core team provided the highest amount of verifiable background information, demonstrating a very high level of transparency and accountability).
The CUT token powers the CryptoUnity ecosystem CUT is the utility token that powers the CryptoUnity ecosystem. The token has a total supply of one billion and provides holders with many different benefits and utility cases on the CryptoUnity platform. Besides profiting from lower fees and other loyalty programs, users can leverage CUT to access further education and secure a spot in other legitimate ICO presales. With the development of the platform, additional utility cases are expected. Holders of the token also get to enjoy other benefits, including airdrops, holder rewards, and advantages on giveaways.
Crypto Unity seeks to make it easier for beginners to navigate around in this new digital asset class by providing them with an easy to use platform as well as comprehensive research & educational resources section which empowers them even more so they can learn more about cryptocurrencies at their own pace & convenience without feeling intimidated or overwhelmed by it all!
Apart from making sure that all transactions occur between individuals without any middleman involved – thus preserving anonymity – safety remains paramount within this industry as well & henceforth Cryptounity made sure it implements relevant measures such as cold wallet systems w/ NFC cards ensuring extra security for its customers’ funds! Additionally partnerships w/ established tech leaders like Lenovo helps them demonstrate their commitment towards transparency which was further confirmed when both QuilAudits & Certik published independent audits certifying their credibility levels too!
Benefits Of Holding CUT Token
Holders will be able to benefit from lower fees & loyalty programs as well as gain access 2 exclusive events or presales through leveraging CUT tokens! Furthermore they’ll be entitled 2 receive regular rewards just 4 holding onto these digital assets & will even have chances 2 participate in giveaways w/ advantageous terms attached 2 those who hold CUT tokens! All these features combined give holders multiple strong incentives 4 investing in Cryptounity tokens while at same time contributing positively towards evolution & progress within entire industry itself !
• HT, Huobi’s native token, experienced a 90% price drop on Thursday dropping from $4.6 to $0.31.
• Justin Sun is the largest holder of HT tokens and serves as an advisor to the Huobi crypto exchange.
• Justin Sun has created a $100 million liquidity fund for those impacted by the leveraged liquidation.
HT Price Crash
HT, the native token of Huobi Exchange, crashed by over 90% on Thursday dropping to $0.31 from $4.6 in just 10 minutes. Although the price has since recovered, it was trading at $3.81, 21% down in the past 24 hours at press time.
Cause of Price Drop
More than $2 million HT tokens were sold on Huobi prior to the crash and Justin Sun was reported to have moved $60 million in USDT from Huobi to Aave. Tron’s founder Justin Sun is also the largest holder of HT tokens and serves as an advisor to the Huobi crypto exchange and during this same period Tron’s token (TRX) dropped by 12%.
Justin Sun Comments
Justin Sun commented that few users triggered a cascade of forced liquidations in the spot and HT contract markets leading to a sudden drop in prices but assured users that operations are safe and he would create a liquidity fund for those affected by leveraged liquidation. He later confirmed via Twitter that he had transferred $100 million in USDC stablecoin to Huobi for this purpose.
Kaiko Research Data
Transaction data from Kaiko research analyst Riyad Carey showed that more than 2 million HT tokens were sold on Huobi prior to the crash which contributed significantly towards its massive price drop within 10 minutes time frame..
Despite facing such a huge loss due to sudden price drops, Justin sun was quick enought o react with solutions which helped restore some trust amongst investors who were otherwise panicking after such an abrupt fall in prices overall helping them recover their losses partially however not completely as compared with what they had before this event took place
• Silvergate Capital Corp (NYSE: SI) stock was cut nearly in half on Thursday after it delayed the submission of its annual 10-K report.
• JPMorgan analyst Steven Alexopoulos downgraded the financial services company to „underweight“ citing continued liquidity challenges.
• Coinbase also announced today that it had stopped payments to or from the crypto bank.
Silvergate Stock Crashes After 10-K Delay
Silvergate Capital Corp (NYSE: SI) stock was cut nearly in half this morning after it delayed the submission of its annual 10-K report. In a filing with the U.S. Securities and Exchange Commission (SEC), Silvergate said they were evaluating their ability to continue as a going concern and are reevaluating their businesses and strategies due to business and regulatory challenges they currently face. The lender also confirmed that it had to offload more assets than expected over the past two months, which could weigh on its capital ratio, causing Silvergate’s stock to be down 65% since its year-to-date high.
JPMorgan Analyst Downgrades Silvergate
JPMorgan analyst Steven Alexopoulos downgraded the financial services company to „underweight“ citing continued liquidity challenges, as short-sellers appear to have caused a bank run of sorts with Silvergate reporting a much greater level of deposit outflows than anticipated in Q4 and this likely continuing. In its latest reported quarter, Silvergate Capital had $1 billion of loss.
Coinbase Stops Payments To/From Crypto Bank
Coinbase also announced today that it had stopped payments to or from the crypto bank. Analysts at Canaccord Genuity also downgraded Silvergate stock on Thursday and trimmed their price target o $9 per share.
Existential Crisis For Crypto Bank
Silvergate is facing an existential crisis following the FTX fiasco in early November, which has caused investors to doubt whether the company can remain solvent for long periods of time without external assistance or major restructuring efforts from management.
In conclusion, Silvergate’s stock has been cut nearly in half due to its delay in submitting its 10-K report and various other factors such as liquidity issues, deposit outflows and Coinbase stopping payments involving them have contributed further towards plummeting prices for their stocks leading analysts at JPMorgan and Canaccord Genuity to downgrade them significantly while lowering their price targets too
• Magic Eden Ventures has invested in 11 Web3 game studios.
• The 11 studios range from Web3-focused developers to traditional gaming startups.
• Magic Eden is offering beneficiaries access to partner networks and launchpad capabilities, among other features.
Magic Eden Invests in 11 Web3 Gaming Studios
Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. The eleven studios range from Web3-focused developers to traditional gaming startups, Magic Eden said in a blog post.
Features Offered To Beneficiaries
The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features. Chris Akhavan, Chief Gaming Officer of Magic Eden commented on the support the NFT platform was extending to the 11 studios, noting that the gaming industry is still an emerging sector that could yet see massive growth.
Monetization Support For Game Studios
According to him, Magic Eden wants to help these game studios „achieve long-term success,“ through its venture arm. This includes via monetization, with access to in-game marketplace support and fan engagement within the broader Web3 ecosystem key drivers of adoption.
11 Gaming Studios Invested In By Magic Eden
The 11 studios include Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, and Stella Fantasy as well as Rooniverse Moonveil (STEALTH), Strider and Lucky Kat.
Launch Of Venture Arm In July 2022
Magic Eden launched its venture arm in July 2022 with a mission of supporting the development and adoption of Web3 gaming which was furthered by its expansion into Polygon Blockchain recently.
• Magic Eden Ventures has invested in eleven Web3 game studios.
• The investments are a continuation of its commitment to the development and adoption of Web3 gaming.
• The partnerships will offer beneficiaries access to partner networks, launchpad capabilities, monetization support, and fan engagement within the broader Web3 ecosystem.
Magic Eden Ventures invests in 11 Web3 Game Studios
Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. This includes Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, Stella Fantasy and more.
Commitment to Development & Adoption of Web3 Gaming
The mission comes a few days after the platform expanded to the Polygon blockchain and hired Chris Akhavan as Magic Eden’s Chief Gaming Officer. Launched in July 2022, the unit is backing these game studios with access to partner networks and launchpad capabilities.
Monetization Support & Fan Engagement
Akhavan commented on the support that these NFT platforms are extending to their game studios by noting that the gaming industry can still see massive growth opportunities. These partnerships will provide access to monetization support as well as fan engagement within the broader Web3 ecosystem for better adoption rates.
Access for Beneficiaries
Through this investment from Magic Eden Ventures into these eleven studios will provide them with access to partner networks and launchpad capabilities along with other features like monetization support and fan engagement within the broader Web3 ecosystem for better adoption rates.
Purpose of Investment
The purpose of this investment from Magic Eden is to help these game studios achieve long-term success through its venture arm which will enable communities and creators deepen their connection with games they love according to Akhavan who noted that “It’s a powerful combination” when it comes to web 3 enabled games with digital asset ownership
• Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects.
• Reports suggested that Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• CZ acknowledged that Binance had pulled back from some investment deals and takeover of bankrupt companies in the US.
Binance Denies Reports on Delisting US-Based Tokens
Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects. He tweeted that the reports were false, acknowledging the exchange had „pulled back“ on some deals. The earlier report suggested that Binance was planning to delist all US-based tokens, one of those being USD Coin (USDC) issued by a financial services firm Circle.
FUD Over Past Months
Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. A Bloomberg report published on Friday cited sources as saying Binance was looking to end relationships with its partners in the US, including banks and reassessing its venture investments in the country.
Pulling Back From Deals
Zhao noted that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies in the US „for now“. He suggested it is better to focus on education, compliance and product & service instead of paying attention to FUD, fake news and attacks.
The news follows regulatory actions against Paxos which issued the BUSD stablecoin labelled as an unregistered security by SEC and an order by New York Department of Financial Services for Bitfinex/Tether investigation.
Overall, CZ’s comments regarding delisting seem highly unlikely given blockchain’s borderless nature. However, regulatory uncertainty continues to loom large over exchanges operating in or servicing customers based in the United States.
• Fantom (FTM) price rose modestly on Tuesday ahead of the upcoming US inflation data.
• The median estimate among economists is that the headline consumer price index (CPI) will decline from 6.5% in December to 6.2% in January.
• Fantom developers are working on a stablecoin known as fUSD that will power its ecosystem.
Fantom (FTM) Price Rises Ahead of Inflation Data
Fantom (FTM) price rose modestly on Tuesday as investors waited for the upcoming American consumer inflation data. It rose to a high of $0.4780, which was a few points above this week’s low $0.4138. This price is about 30% below its highest point in 2023.
US Consumer Inflation Data Expected
The main catalyst for FTM will be the upcoming American consumer inflation numbers scheduled for Tuesday. Economists expect the data to show that the country’s inflation inched downwards in January as goods prices retreated. According to Reuters, the median estimate among economists is that the headline consumer price index (CPI) declined from 6.5% in December to 6.2% in January. This will be the seventh straight months that inflation has moved downwards while Core inflation, which is an important number that excludes volatile food and energy prices, is expected to have dropped from 5.7% in December to 5.6%.
Impact on Federal Reserve and Other Assets
These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum as well as stocks and commodities markets by impacting Federal Reserve’s decisions regarding monetary policies . Higher-than-expected inflation numbers coming a week after US jobs numbers could mean Fed being more combative while if it softens it could lead them towards dovish stance to prevent hard landing due to inverted yield curve signaling recession could be coming soon .
Rebuilding Network & Stablecoin Launch
Fantom price is reacting positively towards news about rebuilding network after challenges faced earlier this month alongside development of stablecoin known as fUSD which was recently confirmed by Andre Cronje , influential figure in ecosystem , with intention of powering Fantom’s ecosystem .
Fantom Price Prediction
At current levels , FTM remains bullish but downside risks remain due to uncertain economic environment caused by pandemic ; however if US CPI figures come out better than expected today then FTM may be able increase gains even further depending upon how other assets react .
• Charlie Munger, the Vice Chairman of Berkshire Hathaway, wants the U.S. to ban cryptocurrencies due to their lack of real value.
• Munger recently praised China for executing a full ban on cryptocurrencies and urged the U.S. to follow suit.
• His business partner Warren Buffet also shares his view on cryptos and believes they have no real value as well.
Charlie Munger Wants US Ban On Cryptocurrencies
Charlie Munger, Vice Chairman of Berkshire Hathaway, has reiterated his view that cryptocurrencies have no real value and should be banned in the United States to protect investors from scams and fraudulent activity. He praised China for executing a full ban on cryptocurrencies and urged U.S authorities to follow in its footsteps. His business partner Warren Buffet also shares this view of cryptos having no real value as well.
Crypto Market Having Fantastic Start To Year
Despite Munger’s criticism of crypto assets, the crypto market is having a fantastic start to the new year with Bitcoin currently up nearly 40% since the start of 2023 – despite his opinion that it is nothing more than a “gambling contract with a nearly 100% edge for the house” .
Learn from England’s Precedence
Munger has quoted England’s example in 17th century when it imposed an absolute ban on all public trading in new common stocks for about a whole century as precedence for U.S authorities to consider while implementing such rules against cryptocurrency investments and transactions as well .
Promoters Selling Crypto At Low Prices
The investor has also raised concern over promoters selling large blocks of cryptocurrency at low prices prior to its public sale at much higher prices without fully understanding predilution in favour of them . This can put investors at risk if not regulated properly leading them into possible scams or fraudulent activity .
In conclusion, Charlie Munger continues to hold an unwavering opinion that cryptocurrencies are intangible assets with no real-world use cases and pose potential risks if not regulated properly by governments across the world – including U.S.. He believes an absolute ban should be implemented by US government just like China did recently so that investors remain safe from scams or frauds related to cryptocurrency investments or transactions
• Bitcoin price declined slightly on Monday after nearing the resistance at $24,000.
• Macro factors will be the key drivers for Bitcoin and other asset prices.
• Consumer confidence, Fed decision, and NFP data will be in focus this week.
The price of Bitcoin saw a slight decline on Monday after reaching near resistance at $24,000. This price pullback comes as investors and traders have started to focus more closely on the macroeconomic data and events coming up in the US this week. The key driver for Bitcoin and other asset prices this week will be the consumer confidence, Fed decision, and NFP data.
The Conference Board will publish the consumer confidence data for January on Tuesday, and economic forecasters believe that the figure should continue to rise, since inflation has been easing. Following the consumer confidence data will be the first FOMC decision of the year, which is expected to be an extremely hawkish tone in order to reduce the enthusiasm among investors and traders. Historically, crypto prices tend to rally in periods of easy money policies, so an extremely hawkish tone could be bearish for the price of Bitcoin.
The NFP data, which is due on Thursday, will also play a major role in dictating the direction of the markets. The NFP data is an important indicator of the labor market, and any significant changes could have a direct impact on the price of Bitcoin. Additionally, traders will be closely watching the Fed decision to gauge the central bank’s outlook on the economy and its monetary policy.
Overall, the macroeconomic data and events this week will be key factors that will determine the direction of the markets, and Bitcoin, in the coming days. Traders and investors will be closely monitoring the consumer confidence data, the Fed decision, and the NFP data to get a better idea of where the markets are headed.
• Axie Infinity (AXS) has hit a high of $13.83 today, making it the top gainer in the market today.
• The increased gaming activity on the Axie Infinity blockchain is largely behind the ongoing bullish price action.
• Axie Infinity is a blockchain-based battling game owned and operated by players around the world.
Today, the cryptocurrency market is experiencing an upswing with the Axie Infinity (AXS) token leading the charge. After a relatively quiet weekend with most tokens consolidating their previous gains, the AXS token has surged to a four-month high of $13.83. This is a significant increase from the token’s mid-September low of $12 and its end of 2022 low of $6.
The success of the Axie Infinity token is being driven by the increased activity on the Axie Infinity blockchain. Axie Infinity is a blockchain-based battling game owned and operated by players around the world. It is inspired by classic games such as Tamagotchi and Pokémon, and allows users to collect, breed, raise, battle, and trade token-based creatures. This has attracted many users to the game, making it one of the most popular blockchain-based games in the market. This increased demand has caused the price of the AXS token to skyrocket.
The growth of the token has been further propelled by the introduction of new features to the game. In December of 2022, the Axie Infinity team launched the Moonflower update, which introduced new game modes such as the ‚Axie Infinity Circuit‘. This allowed players to compete for rewards in daily tournaments. Additionally, the team has announced the launch of Axie Infinity Space, which is a new game mode that will allow players to explore and battle in a virtual world.
The team has also been actively engaging with the community and has been hosting various giveaways and promotions to reward users for playing the game. These efforts have helped the game gain more traction and have further boosted the price of the AXS token.
The future of the Axie Infinity token is looking bright as the game continues to gain popularity and more users join the platform. The team has also announced that it is working on new features that will further enhance the playability of the game and reward users for their efforts. With all these developments, the future of the AXS token looks promising and it is likely to remain the top performer in the market today.