NewsBriefs - Pixels partners with Crack and Stack to launch Pixel Dungeons, expanding $PIXEL token utility
12/17/2024 02:00
Pixels, recognized as the most popular Web3 game based on daily active players, announced a collaboration with Crack and Stack to develop an...
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Pixels partners with Crack and Stack to launch Pixel Dungeons, expanding $PIXEL token utility
Pixels, recognized as the most popular Web3 game based on daily active players, announced a collaboration with Crack and Stack to develop and launch a new game, Pixel Dungeons. This initiative will enhance the utility of the $PIXEL token and integrate Pixels' Reputation System, which rewards players based on their in-game actions and token holdings. The newly introduced game features a competitive play-to-earn model, where players can earn $PIXEL tokens by navigating dungeons, battling opponents, and avoiding traps. Pixels aims to leverage this partnership to expand its user base and increase token use in their gaming ecosystem, aligning with their strategic focus on monetizing and growing visibility in the Web3 gaming sector.
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Bitcoin reaches new all-time high above $107,700, propelled by robust spot volumes
Bitcoin reached a new all-time high of over $107,700 on December 16, fueled by increased spot trading volumes and significant buying during the US session. Notable company purchases and strong inflows into spot Bitcoin ETFs also contributed to this surge. Analysts predict the price may hit $115,000 next, driven by ETF fund flows.
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Pixels partners with Crack and Stack to launch Pixel Dungeons, expanding $PIXEL token utility
Pixels, recognized as the most popular Web3 game based on daily active players, announced a collaboration with Crack and Stack to develop and launch a new game, Pixel Dungeons. This initiative will enhance the utility of the $PIXEL token and integrate Pixels' Reputation System, which rewards players based on their in-game actions and token holdings. The newly introduced game features a competitive play-to-earn model, where players can earn $PIXEL tokens by navigating dungeons, battling opponents, and avoiding traps. Pixels aims to leverage this partnership to expand its user base and increase token use in their gaming ecosystem, aligning with their strategic focus on monetizing and growing visibility in the Web3 gaming sector.
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Riot Platforms increases Bitcoin holdings to 17,429 BTC using bond proceeds
Riot Platforms has expanded its Bitcoin holdings to 17,429 BTC, valued at roughly $1.8 billion, by using $594 million from a convertible bond issue. The company acquired 667 BTC at an average price of $101,135 each, adding to the 5,117 BTC previously purchased. Despite a 25% decline in its stock this year due to profitability challenges post-Bitcoin halving, the stock rebounded following news of a stake purchase by activist hedge fund Starboard Value.
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Coinbase addresses $1 billion lawsuit over wBTC delisting and its own cbBTC token
Coinbase is facing a $1 billion lawsuit from BiT Global Digital, alleging anticompetitive behavior involving the delisting of Wrapped Bitcoin (WBTC) to favor its own Coinbase BTC (cbBTC). The lawsuit claims Coinbase's decision undermines wBTC's market position, violating US antitrust laws. In response, Coinbase's chief legal officer defended the company's stringent listing standards and decision-making process.
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World Liberty Financial’s $2M LINK bet fuels Chainlink rally to 2021 price levels
World Liberty Financial, backed by Donald Trump, acquired an additional $1 million in Chainlink's LINK tokens, bringing its total investment to $2 million. This purchase followed an acquisition of $246,000 in AAVE tokens. LINK is now the fourth-largest holding in their portfolio, after Ether, Bitcoin, and Tether. The increased holdings have contributed to a significant rise in LINK's market price, with a 22% increase over the past week and a surge of over 130% since World Liberty first invested, pushing LINK to early 2021 price levels.
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Grayscale introduces new investment funds for Lido and Optimism tokens
Grayscale Investments introduced two new crypto funds, the Grayscale Lido DAO Trust and Grayscale Optimism Trust, focusing on Lido's LDO and Optimism's OP tokens. These funds target investments in Ethereum's largest liquid staking protocol and a leading layer-2 scaling solution, contributing to Ethereum's overall efficiency, security, and scalability. Available only to qualified investors, these funds expand Grayscale's portfolio, reinforcing its position as a major player in the crypto investment space.
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Frax Finance teams up with IQ to launch AI agents on blockchain
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Pantera Capital predicts shift to fundamental investing in crypto
Cosmo Jiang from Pantera Capital emphasizes the importance of fundamental investing for the future growth of the crypto market, highlighting that sustainable profits in crypto will increasingly depend on fundamentals like cash flow, not merely speculative interest. Jiang points to the necessity of attracting institutional capital, which focuses on solid fundamentals, for continued market expansion. He suggests that product-market fit and effective execution by crypto projects will be central to selecting tokens for investment.
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Ray Dalio advocates for Bitcoin as protective asset amid global debt concerns
Ray Dalio, founder of Bridgewater Associates, endorsed gold and Bitcoin as preferable to debt assets in a speech at the Abu Dhabi Finance Week. Dalio highlighted the rising levels of indebtedness in major economies and the potential for future financial crises that could devalue conventional money. Despite his skepticism, Dalio admitted to owning bitcoin in 2021. Dalio stepped down from Bridgewater in October 2022, having relinquished his leadership roles over several years.
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Circle and Binance partner to expand global reach of USDC
Circle and Binance have formed a strategic partnership to enhance the utility of USD Coin (USDC) and expand its availability on Binance's exchange. This collaboration, announced during Abu Dhabi Finance Week, aims to integrate USDC into Binance's corporate treasury and increase its use across various financial services. Additionally, Circle will assist Binance in developing global finance and commerce relationships, furthering the adoption of stablecoins in the digital asset ecosystem.
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Magic Eden's ME token struggles at launch amid user complaints
Magic Eden's newly introduced ME token experienced a significant price dip following its launch due to complaints from users about a complex claiming process and issues with the platform's mobile app. Initially priced at $6.70, the token surged to $13.10 before plummeting about 67% to $4.30, though it later recovered to around $8.60. The rollout was marred by technical issues and user frustration over the ability to claim the token using different devices.
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El Salvador and Argentina sign crypto regulation agreement to boost industry development in Latin America
El Salvador and Argentina have signed an agreement to collaborate on crypto regulation, aiming to share knowledge and promote regional development of the digital asset industry. Juan Carlos Reyes of El Salvador's CNAD and Roberto Silva of Argentina's CNV are leading this initiative. This partnership is intended to enhance the innovation and adoption of crypto technologies in Latin America, reflecting the significant role of international collaborations in fostering a well-regulated crypto ecosystem.
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Trump aims for Bitcoin to reach $150,000 during his presidency, Axios reports
Following his election victory, President Donald Trump expressed a desire for Bitcoin to surpass $150,000, reflecting his focus on the token's price as a measure of economic success. Bitcoin's price has notably increased since Trump's election, reaching new highs. Additionally, Trump plans to implement crypto-friendly regulations and has nominated Paul Atkins for SEC chair, indicating a proactive stance on crypto during his presidency.
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Tether's USDT gains acceptance as a virtual asset in Abu Dhabi Global Market
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has officially recognized Tether's USD₮ as an Accepted Virtual Asset (AVA), enabling authorized personnel to offer services associated with USD₮ in ADGM. This development aligns with the United Arab Emirates' strategy to integrate digital and traditional finance, reinforcing Abu Dhabi and Dubai's positions as global leaders in crypto innovation. The recognition marks a significant advancement in Tether's effort to support financial inclusion and bridge the gap between conventional and digital economies.
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Bernstein predicts quantum threat to Bitcoin is decades away
Bernstein analysts have determined that Google's new Willow quantum chip does not pose an immediate risk to Bitcoin's security, stating the threat from quantum computing seems decades away despite recent advancements. Currently, Bitcoin uses cryptographic algorithms like ECDSA and SHA-256, which remain secure against quantum attacks with the current level of quantum technology. Discussions continue within the crypto community about moving to quantum-resistant encryption to preempt future threats.
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