What’s Brewing In Crypto News (This Week: “Green” Crypto Platform Launches With Record Presales)
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To make sure you can stay up to date as well, we’re delivering key news stories for you to digest with your morning coffee. It’s the exhilarating world of crypto, one byte at a time.
Let’s see what’s brewing.
“Green” Crypto Platform Launches With Record Presales
December 8, 2022
With just a few days left until the environmentally conscious crypto platform IMPT officially goes live, it will do so having raised a staggering $16 million in presales.
We told you about IMPT back in October: IMPT is an upcoming crypto token that can be purchased or earned on their own platform while you shop your favorite brands. Then, the platform makes it easy for consumers to contribute to environmental causes and trade in tokens for carbon credits.
When IMPT hits exchanges after the presale ends on December 11, it is estimated that it will open with a listing price of $0.0253. During its first presale stage, IMPT was priced at $0.018, and in its current second stage, it’s priced at $0.023.
But this success isn’t new for the IMPT project; the truth is that IMPT has been enjoying plenty of attention since its presale launch began in October.
Within just two weeks of launch, IMPT had already raised $5 million when big-name retailers joined their movement.
Now IMPT has even more influential retailers who have jumped on board. Those include Microsoft, Samsung, Trip Advisor, Dyson, Macy’s, Domino’s, and many more. In fact, the total number of brands is over 10,000. That’s 10,000 votes of corporate confidence, where that confidence has the wider market perched to pounce.
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Ethereum is Back on the Rise, Possibly Up To 30%
December 1, 2022
The world’s second-most adopted cryptocurrency, Ethereum (ETH), is finally creeping back up again after a prolonged dip, and we may expect to see it shoot up by 30% if historical trends hold.
Within just the past few days, ETH has risen more than 9% to a market value of $1,287. Most importantly, the number of Ethereum addresses, comprising senders and receivers, has spiked to the highest levels it’s seen since mid-October.
Why is this particular spike notable? It’s not just because it’s outperforming the Bitcoin bounceback at 3.5%, but because the last time a surge of this magnitude happened, the price of ETH shot up by 30% over the three weeks following.
Adding to speculation that ETH will continue its upward trend is the fact that its current value was reached by surpassing a key resistance zone. A ‘resistance’ in crypto is a pivotal price point in which selling pressure is elevated and buyers are less inclined to buy. Whenever the price of a token manages to break past the resistance zone, it tends to trade up to the next higher zone.
Ethereum’s previous resistance zone was at $1,230, and it’s on the heels of the zone identified at $1,288. The next major point of resistance will be at $1,300.
The market is watching intently to see if Ethereum keeps up the momentum. If it does hit that magical $1,330 value, investors looking to revitalize the market after the FTX collapse will pounce.
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The Next Big Thing for Play-to-Earn Games
November 24, 2022
The video game world delved into a new trend last year: GameFi. This shorthand for “game” and “finance” describes games built on blockchain gaming platforms that operate on a play-to-earn (P2E) model, whereby players earn real-world cryptocurrency by trading gaming assets, or NFTs, like skins and cards.
Its initial debut caught plenty of investor interest, but some players returned the verdict that it was largely inaccessible. A working knowledge of digital assets was necessary to master the transactional side and turn a profit; and, getting to that point required a considerable outlay, since digital assets are necessary to engage with the crypto-meets-video games.
2022 has delivered a new game in the P2E market which is designed to pave the way forward, with fewer challenges to access gameplay. Calvaria: Duels of Eternity offers a free-to-play version where players are shown a tracker that displays how much they could be earning if they were playing with a buy-in, as well as real-time guidance to educate and foster player confidence before they play to earn.
With nearly $2M raised since the presale of its native token last month, Calvaria (RIA) is demanding to be noticed, with the new coin set to outperform its direct rivals even in this current bear market. Watch this space!
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Kim Kardashian’s $1.26M Crypto InstaFee
November 17, 2022
The Kim Kardashian crypto drama has finally come to a close as the mega celebrity influencer and reality TV star agreed to pay the Securities and Exchange Commission (SEC) a fee of $1.26 million, and refrain from promoting crypto for the next three years.
It began in 2021 when Kim Kardashian promoted the cryptocurrency EthereumMax (EMAX) on Instagram without disclosing the fact that these were paid promotions.
So, what’s the big deal about Ms. Kardashian promoting a crypto asset?
It actually violated federal securities laws. The problem comes down to promoting the crypto token without telling her 331+ million followers that she was being paid to do so, and as such misleading the public.
As you’d expect, after Kardashian’s undisclosed $250,000 payment, the value of the EMAX token shot up drastically before the hype died down and it crashed.
EMAX – no connection to Ethereum – surged again after the settlement details with the SEC were released, though the enthusiasm has cooled since.
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The Midterms Could Decide The Future Of Crypto
November 10, 2022
The U.S. midterm elections have been the primary focus of the punditry, but the implications for cryptocurrency have had investors mounting their own speculation. That’s because the party that emerges with the post-Midterm majority could have a big impact on the crypto industry, should it be a legislative priority.
The Republican and Democratic parties seem to be in semi-agreement on this issue: cryptocurrency needs a more comprehensive regulatory approach.
Cryptocurrency is legal in the U.S, and citizens are free to transact, trade and convert it. That said, given how relatively new digital currency is, it follows that there’s a distinct lack of regulation.
Between the two parties, the Republicans are generally in favor of extending their “States’ rights” mantra to crypto. Being a decentralized asset, a spiderweb of state laws could be favorable, or just confusing and murky.
Democrats, on the other hand, are predisposed to favor more stringent regulation at the Federal level, which could pose more restrictions overall on investors, but provide a singular, cohesive playing field.
Though the Midterm landscape is fast-changing, the GOP are on the path to claim the House, and it’s leaning towards the Democrats for the Senate.
The main sentiment from the crypto market is that, like all intangible assets, having a predictable and steady legislative framework gives us more certainty – not less.
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