This Is Why Decentraland (MANA) Is Taking Off Right Now - Global Coin Report
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This Is Why Decentraland (MANA) Is Taking Off Right Now

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If you’re looking for out of the box blockchain application ideas, you can’t get better than Decentraland (MANA). This virtual real estate startup made waves when it hit markets with what can only be described as the most successful, failed ICO ever and has since developed an incredibly strong following among a whole spectrum of sector enthusiasts – gamers, cryptocurrency users and investors, real estate developers, and more.

 

MANA Daily Chart

MANA Daily Chart

Over the last 24 hours, this enthusiasm has ramped up and the company’s underlying token – the MANA – has gained close to 200% versus the US dollar. MANA tokens now go for just over $0.10 a piece and command a market capitalization of more than $230 million. Volume during the last 24 hours alone came in at more than $160 million, or 10,000 BTC.

So what’s driving the run and is there more of the same to come?

Let’s take a look.

For anyone that’s not yet familiar with Decentraland or MANA, the company is – as mentioned – a virtual real estate company that’s created a virtual world built on blockchain technology.

It’s then sold various chunks of land in the virtual world (as measured by pixel size) to investors. MANA is the currency that’s going to be used in the virtual world and participants in the ICO (who received MANA in return for their investment) can either use the MANA they own to buy virtual plots of land or can hold onto the MANA in anticipation of its value increasing in line with company growth.

So why is there demand for some real estate that a company has just created out of thin air?

Well, the idea is that this ecosystem can grow to become something like Minecraft, the hugely popular virtual world type game that Microsoft bought back in 2014 for $2.5 billion. There are numerous examples of areas of Minecraft that would benefit from a decentralized base and –

By amassing land holdings in this platform now, the idea is that they will become more valuable over time (in the same way that they might in the real world) based on the concept of limited supply.

That’s the idea, at least.

So what’s driving the action now?

The company is about to hold an event that it called Terraform, which is basically a huge auction for large pockets of land in the Decentraland world. In order to take part in Terraform (and by that we mean in order to bid on the land that’s being sold as part of the event) a bidder has to bid with MANA.

The reason we are seeing such a dramatic rise in price right now, then, is that we are seeing so many people buy MANA in anticipation of being able to use it to purchase land at the event.

So what happens next?

Now it’s all about what happens at Terraform. If the event proves popular (and the huge uptick in MANA purchases that we are seeing right now suggest that it’s going to be) then it’s going to really get this token (and the company behind it) on the map – for want of a better phrase.

This, in turn, is going to attract more speculative traders and investors towards the company and its token which, by proxy, will serve to compound the upside action that we are seeing right now and push the price of MANA further heading into the close of 2017.

Bottom line here is that this is an incredibly interesting concept and one for which we are now seeing there exists large market interest. This makes MANA a token to watch going forward.

We will be updating our subscribers as soon as we know more. For the latest on MANA, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of decentraland.org

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As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to…

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CoinFlip Continues to Dominate the U.S. Cryptocurrency ATM Market

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Although cryptocurrency has brought in a lot of traders seeking the dream of overnight wealth, cryptocurrency is a lot more than just striking it rich.  Cryptocurrency is about creating a new market with companies that are building cutting edge technology in an effort to continue elevating our way of life.  As the crypto market continues to expand, several companies are involved in creating ways for more people to participate.  One such company that appears to be making all the right moves is CoinFlip.

CoinFlip is the world’s leading cryptocurrency ATM operator that currently allows users to buy and sell 10 different cryptocurrencies including BTC, ETH, LTC, DASH, TRX, KMD, LINK, BNB, XLM, and USDC.  Due to the company’s quick growth, CoinFlip has quickly gained a reputation of being the place to go for all crypto ATM transactions.  In addition to its massive geographic coverage, there are four advantages that CoinFlip currently offers over its competitors:

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  • 24/7 customer support through phone, text, and chat

Given the global pandemic currently facing us, many companies have been struggling just to survive.  CoinFlip, on the other hand, is not only surviving but thriving.  The company has had an exciting few months and has even bigger plans…

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Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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