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MGO Token Could Surge After New Payment API Release

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Although February delivered a brief glimmer of hope to crypto traders after BTC surged above 4,000, the euphoria was short-lived.  It appears as though the bear is here to stay for at least the foreseeable future.  Despite the challenging times, there are projects that continue to deliver in the face of adversity.  One very promising company that I have covered before is MobileGo (MGO).

Introduction to MGO Token

MGO is a smart token that could usher in a new era in the gaming industry.  The token’s purpose is to gamify the eSport platform and incentivize gamers for loyalty and participating through rewards.  The team at MobileGo continues to work on establishing strategic partnerships and alliances (such as with Xsolla), expanding its global reach, and making games available to everyone around the world.

The token has several inherent benefits.  For gamers, it will help facilitate peer-to-peer match play and decentralized tournaments, serving both as a match reward and an entrance fee.  Additionally, MGO token owners will have an opportunity to generate additional discounts good toward purchasing in-game content.

Game publishers and developers will also reap the benefits of the MGO token.  Game publishers have the option to be paid in MGO, which has several major advantages of traditional FIAT, including the speed of processing payment requests.

Team Just Released a New Payment API for Developers

One of the things I like most about MobileGo is its relentless pursuit of greatness.  The team continues to align with strong partners and develop enhancements to their platform.  And that is certainly the case after the release of its first open source and complete API.  This API can be utilized by game publishers in order to both accept and distribute payments in MGO tokens.  It can even be integrated directly into games so that MGO can be used as a direct payment method.  That is an absolutely huge development!  All of the code can be found at MobileGo’s official GitHub account.

This new open-source payment API will provide developers and gamers with more options, improved usability, and cost efficiency when using MGO as a payment method.  MobileGo is currently in discussions with several parties regarding the possibility of using the new payment API on their platforms.

Another interesting aspect is that MobileGo can provide developers with a custom API that can be used to increase the fee behind a transaction.  Developers can use that extra fee to fund a specific cause, such as a charity.  If this feature is utilized, a portion of the total transaction cost will be forwarded to the charity of choice.

Ethereum Network Fees Can Be Paid in MGO Tokens

A potential jackpot for MGO is that Ethereum network fees (GAS) can be paid in MGO tokens thanks to the new open-source payment API.  In order to best illustrate how the math works, an example is probably best.  If a gamer makes an in-game purchase totaling 100 MGO tokens, the fee comes out to be 1 MGO.  In this case, the developer would receive 99 MGO after the 1 token fee is paid.  If the gamer covers the fee, then the gamer would end up spending 101 MGO tokens and the developer would receive 100 tokens.

When comparing that cost to the traditional GAS cost of using Ethereum, it is a huge cost saving.  For one transaction it may not seem like a lot but it certainly adds up over time.  It’s another perfect example of why MGO is likely to gain significant adoption within the gaming community.

Just as a word of caution, it’s important to note that the examples of fees and payments presented here are dependent on the ETH network and do not reflect the current/previous/future situations.  They are used solely to provide a clear explanation of the API mechanism.

Increased Transparency Through Official GitHub

Due to the rapid speed at which MobileGo is developing and growing, the team has released its official GitHub.  This account will be used to increase the transparency of all the company’s projects.  Up to this point, the following projects can be found on the company’s GitHub:

  • Metamask Integration – For users with Metamask accounts and do not wish to add custom contracts, this application will show the MGO balance.
  • Payment API with standard ETH fee.
  • Payment APIs that change the fee from ETH to MGO for simplicity and usability.

As the team at MobileGo continues to develop new projects, users can expect additional developments to also be listed on the company’s GitHub.  A few examples of things to look forward to include:

  • eSports platform (built on top of the smart contract)
  • Integration of the Payment API with the MGO Store (coming soon)
  • Smart contract for decentralized matchmaking in tournaments

The above are just a few examples of what is expected in the near future.

Conclusion

MobileGo continues to be a shining example of what is possible in cryptocurrency.  Although the team is excelling at every turn, users should feel free to contribute any ideas they might have to the GitHub.  And in an effort to incentivize community activity, MobileGo expects to launch a bounty program that will reward contributors in the near future.  There is a famous African proverb “it takes a village to raise a child.”  Well, in this case, it takes a community to build something great and MobileGo is on the verge of doing just that.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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