Toncoin price has suffered a harsh reversal, mirroring other altcoins that have lost momentum this month. This sell-off accelerated after the Federal Reserve’s hawkish decision on Wednesday. Fundamentals like the rising TON inflation, falling burn rate, and poor performance of its ecosystem tokens mean that the coin may continue falling in the near term. Toncoin Price At Risk As Burn Rate Drops TON price may be at risk as its fundamentals continue to deteriorate. According to TonStat , the number of Toncoin burned a day has dropped to less than 6,000. This is a big drop since the figure stood at almost 40,000 in September, noting a 85% drop. A token burn is a situation where crypto coins are removed from circulation, boosting the remaining ones. In TON’s case, the token burn comes from the fees that the network generates. In theory, a cryptocurrency often drops when there is not much token burn going on. Toncoin Burned Toncoin’s burn rate has fallen as the annual inflation has continued rising. TON’s inflation has risen to 0.31%, its highest level since August, and much higher than the year-to-date low of 0.33%. This inflation happened as the number of new Toncoin minted a day has continued rising. It rose to over 84,000 on December 18, increasing the amount of supply. Toncoin Minted a Day Further data show that the amount of fees collected in the TON blockchain has continued falling. It fell to 11,505 TON on Wednesday from the year-to-date high of 78,000 TON. TON Blockchain Ecosystem Struggles Meanwhile, the TON ecosystem has lost momentum. The total value locked (TVL) in its DeFi protocols has continued falling and now stands at $275 million from the year-to-date high of $760 million. Further, most TON tokens have plunged as the number of users retreated. For example, the Hamster Kombat token has fallen by 22% in the last 30 days and only 2.7% holders are in profit. Similarly, PunkCity has dropped by 34%, while Catizen has fallen by 31% in the same period. TON Ecosystem Tokens Toncoin Technical Analysis: TON Could Fall To $4.440 The TON price recently peaked at $7.10, where it formed a double-top pattern. This pattern is made up of two peaks with a neckline, whose in this case is $4.4392, its lowest level on September 6. Toncoin price has also dropped below the 50-day and 100-day moving averages, which are about to form a bearish crossover. It has also moved below the Ichimoku cloud indicator. Therefore, the outlook for the coin is bearish, with the immediate target being at $4.4392, which is about 18% below the current level. It is also a few points below the 50% Fibonacci Retracement point. A move below that level will point to more declines, potentially to the 61.8% retracement point at $3.90. Toncoin price Chart On the flip side, the bearish view will become invalid if the coin rises above the key resistance at $6, the highest point on September 27. The post Toncoin Price Could Crash As Burn Rate Drops appeared first on CoinGape .
Victoria, Seychelles, December 19th, 2024, Chainwire BETY.com is enhancing the online gaming and betting landscape by integrating blockchain technology and hash algorithms to create a transparent, secure, and open gaming experience. The platform addresses long-standing challenges in traditional casinos, such as fairness and credibility, by providing a decentralized and verifiable gaming ecosystem. Bety.com’s Blockchain Technology Application BETY.com’s core innovation lies in its blockchain-based game result generation. By leveraging the immutability and transparency of blockchain technology, the platform has introduced new standards of accountability in the gaming industry. Decentralization and Immutability All game data and betting records are stored securely on the blockchain, ensuring they remain immutable and free from external tampering. 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Advancing Online Gaming Through Blockchain Technology BETY.com is refining the online gaming industry with its blockchain-driven approach, offering enhanced transparency and fairness. By leveraging advanced technology and prioritizing user experience, the platform creates a reliable and innovative environment for players. With continuous upgrades and an expanding user base, BETY.com is well-positioned to support future advancements in the gambling sector. About bety.com Bety.com is the pioneering decentralized betting platform and it stands at the forefront of a significant shift in the gambling landscape, positioning itself as the world’s first decentralized betting platform. By harnessing the power of blockchain technology, bety.com aims to transform how users engage in gambling and gaming, creating an ecosystem that prioritizes user security, transparency, and fairness. Players can register now to claim their bonus and begin their journey. With each game, there are opportunities to play, win, and potentially unlock rewards. Additionally, they can access valuable tips and tricks to enhance their gameplay. Starting a free trial offers the chance to experience the world of crypto gaming. ContactLiaison OfficerJovie J.T. Villabusiness@bety.com Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
The cryptocurrency landscape is witnessing pivotal moments as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) navigate significant support levels following recent market fluctuations. Despite recent sell-offs initiated by the Federal
Victoria, Seychelles, December 19th, 2024, Chainwire BETY.com is enhancing the online gaming and betting landscape by integrating blockchain technology and hash algorithms to create a transparent, secure, and open gaming experience. The platform addresses long-standing challenges in traditional casinos, such as fairness and credibility, by providing a decentralized and verifiable gaming ecosystem. Bety.com’s Blockchain Technology Application BETY.com’s core innovation lies in its blockchain-based game result generation. By leveraging the immutability and transparency of blockchain technology, the platform has introduced new standards of accountability in the gaming industry. Decentralization and Immutability All game data and betting records are stored securely on the blockchain, ensuring they remain immutable and free from external tampering. This decentralized approach eliminates the risks associated with traditional casinos, such as manipulation or data alteration, offering players a reliable and verifiable system. Smart Contract Automatic Settlement BETY.com employs smart contract technology to automate game result generation and settlement. Each bet placed and reward earned is executed instantly through smart contracts, eliminating manual operations and the possibility of human interference. This process enhances operational efficiency and ensures a seamless user experience. Hash Value Verification Game results on BETY.com are generated using hash algorithms. Before each game begins, the platform creates a random server seed value, which is hashed to produce a unique value. After the game ends, players can verify the results by cross-referencing the player seed value and server seed value, ensuring the outcome’s fairness. This transparent process allows players to independently verify game results, reinforcing the platform’s credibility. Innovative Gaming Experience BETY.com offers a range of hash-based games designed for simplicity and engagement. These games include: Hash Luck: Players select lucky numbers, with prizes awarded for matches. Dragon Tiger: Players bet on the Dragon or Tiger hand; the higher card value wins. Hash Lottery: Match drawn numbers for escalating payouts. Hash Banker Player: Players bet on either the Banker or Player’s hand for higher points. Hash Even Odds: Players wager on even or odd outcomes for returns. Jackpot Balance BETY.com’s jackpot balance creates an engaging prize pool where each bet contributes to potential payouts. Players can use cryptocurrencies like USDT or TRX to participate and monitor real-time prize pool updates, adding to the transparency. Real-Time Transparency All bets and game results are recorded on the blockchain. Players can view complete histories through blockchain browsers, ensuring absolute transparency and accountability. Ultra-Fast Transactions The platform supports instant payments and withdrawals in multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and more. This eliminates reliance on traditional payment systems, significantly improving capital flow efficiency. BETY.com’s Impact and Future Prospects BETY.com is establishing itself as a significant player in the online gaming sector by modernizing traditional betting methods. Through its integration of blockchain technology and hash algorithms, the platform offers players a verifiable, decentralized system, addressing concerns around fairness and transparency. Global Reach and Inclusiveness BETY.com’s decentralized nature eliminates geographical restrictions, allowing global participation through cryptocurrency. Additionally, the platform’s anonymity and privacy features create a secure and inclusive environment for players worldwide. Technology-Driven Growth As blockchain technology evolves, BETY.com plans to enhance its capabilities by introducing advanced random number generation algorithms, optimizing smart contract efficiency, and exploring innovations such as NFTs and the Metaverse. These advancements aim to enrich the gaming experience and expand the platform’s reach. Platform Highlights Versatile Offerings: Combining casino gaming, sports betting, virtual sports, e-sports, and more. Cryptocurrency Support: Accepts Bitcoin, Ethereum, Tether, Litecoin, and other popular cryptocurrencies. Customer Support: Provides 24/7 assistance through live chat and multiple payment options. Regulatory Compliance: Adheres to international gaming regulations and promotes responsible gambling. Transfer Limits: Supports flexible transaction ranges from $10 to $100,000. Advancing Online Gaming Through Blockchain Technology BETY.com is refining the online gaming industry with its blockchain-driven approach, offering enhanced transparency and fairness. By leveraging advanced technology and prioritizing user experience, the platform creates a reliable and innovative environment for players. With continuous upgrades and an expanding user base, BETY.com is well-positioned to support future advancements in the gambling sector. About bety.com Bety.com is the pioneering decentralized betting platform and it stands at the forefront of a significant shift in the gambling landscape, positioning itself as the world’s first decentralized betting platform. By harnessing the power of blockchain technology, bety.com aims to transform how users engage in gambling and gaming, creating an ecosystem that prioritizes user security, transparency, and fairness. Players can register now to claim their bonus and begin their journey. With each game, there are opportunities to play, win, and potentially unlock rewards. Additionally, they can access valuable tips and tricks to enhance their gameplay. Starting a free trial offers the chance to experience the world of crypto gaming. Contact Liaison Officer Jovie J.T. Villa business@bety.com
RLUSD, a stablecoin by Ripple Labs, is pegged to the US dollar, ensuring a 1:1 value backed by cash or equivalents.
Musk Loves Bitcoin could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did. Musk Loves Bitcoin (MUSKBTC), a new Solana memecoin that was launched today, is set to explode over 13,000% in price in the coming days. This is because MUSKBTC is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up. Currently, Musk Loves Bitcoin can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days. Early investors in SHIB and DOGE made astronomical returns, and Musk Loves Bitcoin could become the next viral memecoin. Musk Loves Bitcoin launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains. How to Buy To buy Musk Loves Bitcoin on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Musk Loves Bitcoin by entering its contract address – 35GthqqwTd9HokNVfUzGpjsALCJbeUXXeKeJcrPCZsJB – in the receiving field. If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others. In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price. If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner. The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum. This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like MUSKBTC. Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
The price of Bitcoin mining machines in Shenzhen, China has increased sharply, rising by 30% compared to last year, driven by the recent rise in Bitcoin prices. Bitcoin Mining Machine Prices Soar in Shenzhen Amid Bitcoin Surge Mining equipment manufacturers and distributors in Shenzhen report increasing demand, with buyers coming mainly from Russia, the United States, Canada and other international markets. Russia Leads Demand with Low Electricity Costs Russia has emerged as a major buyer of mining machines thanks to its low electricity costs, which have significantly increased mining profitability, making the country an attractive location for large-scale Bitcoin mining operations. “The profitability of mining in Russia due to cheap electricity is driving bulk purchases of machinery,” said a Shenzhen-based distributor. Global Demand for Mining Equipment The recent surge in Bitcoin prices has revived interest in cryptocurrency mining and increased demand for high-performance mining hardware. Buyers from North America and Europe are also contributing to this increase, and miners are trying to take advantage of favorable market conditions. In Shenzhen, one of the world’s largest hubs for cryptocurrency mining hardware, this increased interest has tightened supply chains, pushing prices even higher. The rising cost of mining equipment signals renewed optimism in the cryptocurrency market, with miners preparing to expand their operations. However, experts warn that mining profitability is also affected by network difficulty and Bitcoin price stability. As global interest in mining continues to grow, Shenzhen continues to remain at the center of the industry, adapting to the changing dynamics of the Bitcoin market. *This is not investment advice. Continue Reading: Bitcoin Price Fluctuations Also Affect Mining Machine Prices! Which Countries Have Demand? Here Are the Details
Recent developments from the Federal Reserve have reignited bearish sentiments among Bitcoin (BTC) investors, posing challenges for the cryptocurrency’s near-term future. As the U.S. Federal Reserve emphasizes cautious approaches to
The post Binance.US to Resume USD Services in Early 2025 Anticipating Favorable Regulations appeared first on Coinpedia Fintech News In a latest development, Binance. US plans to resume USD services in early 2025, anticipating changes in U.S. crypto regulations. The exchange halted fiat operations in 2023 due to regulatory pressure and SEC claims. Interim CEO Norman Reed noted on Wednesday that the current SEC administration has caused significant harm to American consumers and the crypto industry, including Binance.US. SEC’s Regulatory Assault In June 2023, the SEC accused the subsidiary of violating securities laws. It alleged the company offered unregistered investment products and engaged in anti-fraud practices. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals. He noted that a key part of this regulatory assault was a concerted initiative by the outgoing administration to unjustly deny cryptocurrency and fintech businesses access to banking services. Reed argues that the SEC’s resistance to innovation has hindered the U.S. financial system’s potential and blocked most Americans from accessing the benefits of blockchain technology. Going Ahead With Optimism Despite ongoing legal battles with the SEC, he is optimistic, emphasizing that the SEC has failed to provide evidence of any wrongdoing after 17 months of compliance. Looking forward, with Paul Atkin’s nomination as the next SEC Chair, he foresees a clear regulatory framework for digital assets in the U.S. As USD services prepare for a return, Binance.US plans to launch new features in the coming months and expand its product lineup. “While I can’t provide a definitive launch date yet, let me be clear: It is not a matter of if, but when,” interim CEO Norman Reed said in the statement. “We are closer than ever to restoring USD services and our plan is to achieve this important milestone in early 2025,” he added. He underscored that the platform offers unique features, including 0% fee Bitcoin trading on BTC/USDC, which no other major U.S. crypto platform provides. It also supports 160 cryptocurrencies and staking for over 20 assets, offering more options than any other major on-chain staking platform in the U.S. He strongly believes that 2025 will be a breakout year for Binance.US, with the teams working hard at building a comeback story for the ages.
Hut 8 Mining ($HUT) has just bought $100 million worth of Bitcoin, catapulting its total reserve to a staggering $1 billion. According to CoinDesk,...