Connect with us

featured

Launch of First Ever XDB/ZUSD Pairing Announced to Support Global Gaming Industry

Published

on

The XDB Foundation has recently announced the first pairing of XDB with the new Zytara Dollar  (ZUSD) on global cryptocurrency markets. The Biki cryptocurrency exchange will be one of the first platforms to provide access to the XDB/ZUSD trading pair.

“We are really excited to see the debut listing of the XDB/ZUSD trading pair,” says Michael Gord, the XDB Foundation’s Managing Director,  “Asia-Pacific accounts for a significant portion of the global gaming community, almost 50%, and BiKi is perfectly situated to support this geography.  We’re really happy to welcome them into our partnership ecosystem.”

The protocol layer blockchain DigitalBits is designed to support branded stablecoins and other branded currencies across a variety of use cases, offering crucial support to the global esports industry. The platform solves many of the issues involved in global tournament prize payouts, as well as enabling around the clock real-time payment transfers and global monetization of in-game currencies. Developers will also be able to create programmable incentives for gamers, therefore increasing fan engagement. 

Issued by a regulated financial institution, the ZUSD is designed as currency for the future of the gaming and esports industry and beyond. The programmable dollar moves anywhere in the world at the speed of the Internet, and is redeemable at a 1:1 rate for US dollars. Zytara is the latest company to announce their intention to use the DigitalBits blockchain for their stablecoin.   

DigitalBits is a protocol layer blockchain network ideal for secure and low-cost global transactions and supports various use cases including the tokenization of branded cryptocurrencies, including branded stablecoins.  With a focus on mainstream crypto adoption, DigitalBits aims to solve a real-world problem by integrating with consumer brands.

The XDB Foundation is a non-profit organization focused on assisting DigitalBits and related technologies. The XDB Foundation’s core objectives include: supporting the innovation and adoption of the DigitalBits blockchain and the use of cryptocurrency in enhancing the consumer experience and corporate social responsibility initiatives, shaping commercial standards and requests for technical expansion, growing the DigitalBits community through the inclusion of diverse regions; providing accountability and sustainability practices; and facilitating partnerships and ecosystem development.  

 

featured

Algorand Price Collapses as World Cup Demand Fizzles

Published

on

By

Algorand price has been in a strong bearish trend in the past few months. The ALGO crypto price plunged to a low of $0.1630, which was the lowest level on record. It has plunged by more than 94% from its all-time high. 

World Cup bet backfires

Algorand is a well-known blockchain project that seeks to become a leading player in the smart contract industry. Its benefits over Ethereum is that it is significantly faster, cheaper, cleaner, and more scalable.

Algorand has not had a lot of success in the industry. For one, its total DeFi ecosystem has a total value locked (TVL) of more than $148 million, which is significantly lower than that of other chains like Ethereum and Binance Smart Chain. 

Algorand was recently in the spotlight when it became one of the top sponsors of the recent World Cup tournament in Qatar. As part of the partnership, FIFA embraced Algorand as its top blockchain partner. 

The relationship saw FIFA used Algorand’s blockchain to power FIFA+, its NFT platform. FIFA+ sells some of the best-known NFTs in the soccer world. The partnership was important because of the overall popularity of soccer around the world.

However, recent data shows that the bet on FIFA may have backfired as Algorand price has continued crashing. Similarly, NFT and DeFi activity on Algorand has waned substantially in the past…

Continue Reading

Altcoins

AVAX Price Prediction as Bullish Liquidations Soar

Published

on

By

AVAX price collapsed to the lowest level in almost a month as bullish liquidations soared to the highest level since November 9. Avalanche’s coin plunged to a low of $11.90, which was about 18% below the highest level this month and 42% below November’s high.

AVAX liquidations continues

Avalanche is a leading blockchain network that provides infrastructure solutions to other developers. It is a third-generation layer 1 network that is significantly faster and cheaper than Ethereum.

Avalanche’s growth skyrocketed in 2021 as demand for clean, faster, and more efficient projects rose. It accelerated after the company launched Avalanche Rush, a $150 million incentive program for the network. 

Avalanche has been used to build hundreds of decentralized projects in industries like Decentralized Finance (DeFi), Non-Fungible Tokens (NFT), and the metaverse. DeFi Llama identifies 277 DeFi projects that have a total value locked (TVL) of more than $1.7 billion. 

Some of the best-known projects in the ecosystem are AAVE, Benqi, Trader Joe, and Stargate. At its peak, Avalanche had a TVL of over $22 billion.

AVAX price dropped during the weekend as the number of holders who liquidated their holdings jumped. According to CoinGlass, liquidations jumped to over $1.67 million on December 16, the lowest level in more than a month. 

Continue Reading

featured

3 Cryptocurrency Risks to Brace for 2023

Published

on

By

Cryptocurrency prices have been in a strong bearish trend in the past few days as their correlation with American stocks continued. Bitcoin plunged below $17,000 while the total market cap of all cryptocurrencies dropped to $830 billion. Here are the three main risks facing cryptos in 2023.

Federal Reserve risks

The first main risk that cryptocurrency prices face in 2023 is the Federal Reserve. To a large extent, the Fed was the main driver for most assets in 2022. As inflation surged, the Federal Reserve hiked interest rates by 450 basis points. The most recent rate hike was a 0.50% in December which pushed the headline rate to the highest level in decades. 

Actions of the Fed in 2023 will have a role to play in crypto prices. A hawkish Fed, as the officials hinted in this meeting, will lead to more pain for digital currency prices. Still, there are reasons why the Fed will be dovish. For one, inflation has started easing in the past few months. In November, consumer prices dropped to 7.7%. 

Another factor is that recession risks are at an elevated level considering that the yield curve has inverted to the lowest level in decades. In the past, an inverted yield curve has been one of the best predictors of a recession.

Stablecoin risks

Stablecoins are important…

Continue Reading

Press Release