Crypto Crafters

[PRESS RELEASE – Valletta, Malta, November 18th, 2024]

LaunchPunks has officially launched, introducing a gamified and community-centric approach to the crypto launchpad landscape. Built on Bitcoin via the TAP Protocol, the platform emphasizes fairness, transparency, and scalability while challenging traditional launchpad models.

Ghosty Cash “Spooky” – Supernatural Utility

Leading the charge with them is Ghosty Cash. Ghosty Cash represents an innovative approach to anonymous, cross-chain swaps, designed to challenge conventional DeFi models and enhance user autonomy.

With over $50 million volume swapped and 200% monthly Total Value Swapped (TVS) growth, Ghosty Cash and its utility token Spooky ($SPKY) are establishing a presence in the expanding Bitcoin DeFi ecosystem.

$SPKY Token Utility Highlights:

• Monthly BTC Rewards: $SPKY holders stake with no lock-up, can earn monthly Bitcoin rewards and keep control of their assets
• Deflationary Burns: For every $100 swapped, 0.5 $SPKY is burned, reducing overall supply
• Real-Asset Utility & Compliance: $SPKY is MiCAR-compliant on SOL/TAP and balances the needs of privacy and regulation

A New Era for Launchpads: Fair, Fun, and Built for the Community

LaunchPunks breaks away from fixed tiers, hidden tokenomics and passive participation and takes a fresh, community-focused approach:

• Scalable & Transparent: Dynamic Allocation rewards participation and promises fairness in volatile markets. Tokenomics are presented with easy-to-understand graphs.
• Social & Gamified: Profiles, leaderboards and social integration turns every launch into an engaging and fun experience.
• Inclusive & Anti-Establishment LaunchPunks embraces the punk values of doing things their own way and self-empowerment.

No More Ghosts in the Machine

With Ghosty Cash, LaunchPunks aims to bring a revolutionary approach to token launches sure to spook the competition.

“The old rules are gone – we’re making launchpads fun and accessible,” says LaunchPunks co-founder Mark. “We do things our own way, and everyone gets a chance.”

The Ghosty Cash community raise goes live exclusively on LaunchPunks, Monday, 18th November.

For more information, users can visit launchpunks.com.

About LaunchPunks

LaunchPunks is a first-of-its-kind, gamified, social launchpad experience on a mission to rewrite the code of crypto launches. Powered on Bitcoin by TAP Protocol, LaunchPunks delivers a transparent, scalable, and fun experience that puts the community first. LaunchPunks rejects outdated norms, embraces transparency, and seeks to disrupt.

[PRESS RELEASE – Austin, United States, November 18th, 2024]

Big Time Studios, a Web3 gaming trailblazer and creator of the Open Loot platform and hit game Big Time, which has already processed a half billion dollars in total transaction volume, is making waves again. Active users of the Open Loot platform will soon be able to collect $OL, the marketplace’s first utility token, which will become the cornerstone of the Open Loot.

“We’re flipping the script on token launches. Instead of the usual fundraising frenzy, the launch of $OL is about giving back to our incredible community of players and game developers. From lower transaction fees and exclusive premium currency bundles to invite-only early access to Open Loot games, special NFT sales, tokens in-game drops during exclusive gameplay, and in-game perks,” said Ari Meilich, the visionary founder behind Big Time Studios

Designed to supercharge the Open Loot platform, $OL will boost user acquisition and drive engagement across all Open Loot games and products by delivering substantial utility to Open Loot users, from guardianship to exclusive benefits like better deals and early access to games and events to collecting in-game rewards.

$OL Token

$OL token is not a fundraising mechanism. This launch is fair: there are no token sales, team-allocated tokens, or tokens sold to early investors. Open Loot users can collect $OL=ugh various activities within the platform. Players actively engage in unique game opportunities with partners, completing challenges and participating in unique events. For loyal players, the $OL tokens will provide users with early access to games, opportunities to purchase unique NFTs, and discounts on special premium currency packs and NFT primary sales.

For game developers, $OL is a powerful tool for user acquisition. Developers can leverage the token to reward players for in-game activity, such as reaching milestones or dropping tokens in-game, which will drive engagement. Limited-timed events can attract users to Open Loot partner games and create exposure for the game and the ecosystem. $OL fosters more profound connections between developers and their audiences, giving developers the power to offer players significant value through competitive, social, and metagame features and targeted promotional offers that enhance player engagement.

The potential uses for $OL are vast and will define engagement and innovation across the platform. $OL will foster trust in the Open Loot platform and marketplace, extend reach beyond traditional off-chain models, and lead the way for the Web3 gaming industry, opening up a world of opportunities for players and studios.

Open Loot Platform

Big Time Studios’ Open Loot gaming platform and marketplace has facilitated nearly half a billion dollars in transactions since early 2024. This achievement stems from Open Loot’s ability to simplify complex cryptocurrency functions, scalability, distribution, payments, and regulatory compliance for developers. The marketplace boosts NFT discoverability and sales while providing various payment options.

Players enjoy high-quality games without typical Web3 issues like connecting a crypto wallet, paying gas fees, or waiting for transactions. Patented Vault technology allows easy NFT buying and selling without high gas fees, with the option to mint them onto the blockchain. The platform includes features like NFT rentals, a marketplace for non-crypto game currencies, and detailed NFT price histories, making Web3 gaming accessible. Game studios benefit from ready-to-use tech solutions, including game launchers and premium currencies. Open Loot also provides expert support in marketing, game economy design, and production, ensuring developers can meet player expectations and achieve success.

Open Loot platform manages all foundational elements, overseeing the sales and leasing of digital and traditional items for Big Time, the wildly successful free-to-play multiplayer action RPG, and five pioneering launch partners, each curating distinct Web3 gaming experiences. World Shards, an expansive sandbox MMORPG; Boss Fighters, an engaging multiplayer action title; The Desolation, an immersive cross-platform loot shooter; ShatterPoint, an adrenaline-fueled F2P action mobile RPG; and One Tap, a strategic first-person shooter. Positioned to redefine the gaming sector, Open Loot will focus on high-caliber mid-core to hardcore games.

First Half of 2024 Success

Since the start of 2024, the Open Loot platform has experienced growth driven by its vibrant community and excellent partners. So far, Underscoring Open Loot’s successful quarter was the exchange of over 1,067,103 NFTs and 1,551,969 NFT rentals. This year, more than 226,588 players have crafted more than 3,625,725 NTFs showcasing the platform’s dynamic and engaging ecosystem.

Since it opened, Open Loot has amassed over $445,167,044 in total transaction volume, with millions of transactions signaling the platform’s escalating popularity and triumph.

Users can visit for more details.

About Big Time Studios

Big Time Studios, founded by Ari Meilich, is a pioneering force in the crypto gaming industry, renowned for its innovative Open Loot platform and the hit game Big Time. With a mission to revolutionize the NFT gaming experience, Big Time Studios seamlessly integrates high-quality games with blockchain technology, offering players unparalleled gaming experiences. The curated Open Loot platform gives developers the opportunity to reach a wider audience and drive engagement through unique in-game rewards and events, while players benefit from exclusive access to high-quality games, special NFT sales, in-game perks and airdrops. Big Time Studios’ Open Loot platform has facilitated nearly half a billion dollars in total transaction volume, underscoring its commitment to creating a dynamic and engaging ecosystem for gamers worldwide. For more information, visit Big Time Studios’ website.

A recent analysis has revealed that the non-fungible token (NFT) market struggled in 2024, with untimely price drops and several failed projects.

The research by NFTevening and digital PR agency Storible examined more than 29,000 NFT collections released throughout the year, compiling data from OpenSea and Dune analytics.

NFT Market Profitability Struggles

Dubbed “State of 2024 NFT Drops,” the study found that in 2024, a monthly average of 3,635 NFT collections were created in what it considered to be market oversaturation.

According to the report, 98% of NFT drops were unprofitable and have not registered any trading activity since September. Additionally, the prices of the tokens also reportedly fell by at least 50% within the first three days of their launch.

The incredibly high percentage of NFT drops that recorded fewer than ten trades within the first seven days of their release is a concern because it could mean investors are getting less excited by upcoming projects.

Furthermore, 84% of NFT drops in 2024 had an all-time high (ATH) price equal to their mint price, meaning that they never gained any additional value.

Per NFTevening’s analysis, only a meager 0.2% of all non-fungible token collections yielded profits for investors. Even among actively traded or “alive” NFTs, only 11.9% have proven lucrative, illustrating how deeply projects are struggling to gain any positive outcome.

Excitement for New NFT Projects Drop

Flooding the market with a colossal number of projects has left NFTs struggling to uphold their relevance, directly affecting trading across the industry. This was illustrated by the significant drop in trading volume in the last six months.

Data from a Dune Analytics dashboard reveals that OpenSea, once one of the top NFT marketplaces, has witnessed a 76.32% daily trading volume drop in its values from earlier in the year. Furthermore, minting volumes have also been affected, as 64% of NFT drops have fewer than 10 mints.

Survey Shows NFT Enthusiasts Remain Hopeful

In January, both the NFT and crypto markets struggled to overcome the prevailing bearish sentiment. Nearly ten months later, crypto investors are reaping profits, with Bitcoin hitting all-time highs and dragging several altcoins with it.

NFT traders, however, have been left behind. With factors such as market oversaturation, scams, and tight economic conditions, the situation might get worse before it gets better.

That said, a recent survey by the same publication showed that most NFT enthusiasts are willing to ride the storm. According to the study, more than 66% of NFT traders plan to hold on to their assets, believing they have an undeniable long-term growth potential.

However, about 33% are considering leaving the market, with 72.3% indicating their intention to quit by 2026. Of this number, 36.4% aim to exit by 2024 and 35.9% by 2025, with 27.7% remaining undecided, possibly waiting for market conditions to improve before making a final decision.

Bitcoin’s price dropped below $90,000 during the night but managed to bounce off and reclaim that coveted level.

Several larger-cap altcoins have charted impressive gains over the past day, such as SOL and XRP, while DOGE and SHIB are in the greed.

BTC Reclaims $90K

The business week started on a very positive note for the primary cryptocurrency as it jumped from $80,000 to $85,000 on Monday and up to $88,000 on Tuesday. After a brief correction, the asset went on the offensive once again on Wednesday and skyrocketed to a peak of almost $94,000.

This meant that bitcoin had added over $25,000 in value since the US elections. At this time, though, reports started to emerge that it had reached its local peak. In the next few days, BTC indeed began to retrace and slipped to under $87,000 on Friday morning.

Nevertheless, the cryptocurrency stopped the price drops and started to regain traction in the following days. As such, it jumped to over $91,000 on Saturday but was stopped at $91,500. It slipped below $90,000 during the night but has recovered some of the losses and now sits above that line.

This means that its market cap has dropped to under $1.8 trillion, and its dominance over the alts has taken a hit and is down to 56.2% on CG.

XLM Explodes

Many altcoins have outperformed BTC over the past day, which is seen by the declining bitcoin dominance. Ripple is the most notable example from the top 10 alts, having surged by 11% on a daily scale and rising above $1. SOL, TON, and AVAX are the other impressive gainers from the bunch.

In contrast, Dogecoin and Shiba Inu have retraced by 5% and 4%, respectively. The biggest gains from the top 100 alts come from Mantra (42%), Stellar (33%), Quant (29%), BONK (25%), ETC (15%), ATOM (15%), and others.

The total crypto market cap has remained at essentially the same spot as yesterday at just under $3.2 trillion on CG.

In 2020, former Carolina Panthers offensive tackle Russell Okung made headlines by negotiating to have half of his $13 million NFL contract for the 2020 season paid out in Bitcoin.

Today, that move has paid off, with the value of Okung’s BTC now estimated at $21 million, thanks to the recent surge in the asset’s prices.

$21 Million Payout

While he was not paid in cryptocurrency, the Panthers converted $6.5 million of his salary through Strike, a financial service from Zap that facilitated the purchase of Bitcoin with his funds. This move made Okung one of the first high-profile professional athletes to receive a substantial portion of his income in Bitcoin.

The digital asset was trading at around $27,000 at the time of his investment. With his $6.5 million, Okung acquired approximately 240 BTC, a move viewed as a significant financial risk since the cryptocurrency was still in a growth phase and was known for its volatile price swings.

In late 2022, the cryptocurrency experienced one of its more severe downturns, dropping to around $17,000. This means the 36-year-old’s investment temporarily lost significant value, decreasing to around $4.08 million. Nevertheless, Okung opted to hold onto his stash.

Following the U.S. presidential election in November 2024, BTC prices surged dramatically, reaching an all-time high of over $83,000. As of this week, bitcoin is around $88,000, raising the value of Okung’s initial 240 BTC to approximately $21.36 million.

This increase effectively boosts the total worth of his Panthers contract to around $27.8 million, meaning Okung’s decision to invest half his salary in Bitcoin has led to an additional $14.8 million in value.

The former offensive tackle, who retired from professional football in 2023, recently took to social media to share his win, declaring, “Results silence all debates.”

Interestingly, the former player, who is currently fronting an initiative dubbed Bitball that advocates paying athletes in BTC, has indicated that he will not be cashing in on his windfall any time soon. “How long will I hold Bitcoin? Okay, how long do I plan to breathe?” Okung said in a November 14 post on X.

how long will i hold bitcoin? okay, how long do i plan to breathe?

— OKUNG (@RussellOkung) November 13, 2024

Trump’s Election Win Aftermath

Bitcoin’s recent price rally came after Donald Trump’s victory in the 2024 U.S. presidential election. The rally attracted major inflows into digital assets, with the OG cryptocurrency alone pulling in $1.8 billion, according to CoinShares’ Digital Asset Fund Flows weekly report.

The rally extended beyond Bitcoin, with Ethereum gaining $157 million in inflows and notable activity among altcoins like Solana, Uniswap, XRP, and Tron.

Overall, the total cryptocurrency market capitalization reached a new all-time high of $3.12 trillion in early Asian trading on Tuesday, Nov. 12. This surpassed the previous record of $3.08 trillion set nearly three years ago in November 2021.

TL;DR

• MultiversX (EGLD) ranked first in gaming development activity, followed by two of the most popular projects in the sector.
• Axie Infinity, once a star in the blockchain gaming world, fell to the bottom of the list.

This Month’s Leaders

Each month, the market intelligence platform Santiment employs the so-called Ecosystem Dev Activity Dashboard to find out which are the top cryptocurrencies in the different sectors in terms of development activity. According to the research, MultiversX (EGLD) collected an index of 189.4 and ranked first in the gaming niche for the past 30 days. Interestingly, it topped the ranking after the previous analysis, too.

The MultiversX gaming platform is designed to empower developers and gamers by integrating Web3 technologies into their experiences. It offers high scalability, low transaction costs, and operates with a fully carbon-neutral footprint. 

The second place goes to Decentraland (MANA) which had an index of 140.3. This is one of the most popular blockchain gaming platforms where players can purchase, develop, and trade parcels using MANA. Those curious to learn more about Decentraland can read our dedicated guide here.

The third place belongs to another well-known project in the gaming world: Immutable X (IMX). It kept the same ranking as last month, registering an index of 73.9. SKALE (SKL) and Enjin Coin (ENJ) are the rest rounding up the top 5 club.

The Remaining Projects

Axie Infinity (AXS), which took center stage toward the end of 2021 due to the price explosion of its native token, is positioned at the very bottom of the list with an index of 9.97. 

It is a blockchain-based play-to-earn (P2E) game developed by Sky Mavis and operating on the Ethereum sidechain Ronin Network. Axie Infinity allows players to earn crypto rewards by engaging in battles, breeding creatures known as “Axies,” and participating in the in-game economy. If you want to find out how to play the game, please take a look at our article here.

The remaining gaming projects that completed Santiment’s top 10 list include Cere Network (CERE), The Root Network (ROOT), Treasure (MAGIC), and Saito (SAITO). 

The major lawsuit against the future leader of the Department of Government Efficiency (D.O.G.E) will end soon, at least according to the most recent filings by both sides’ lawyers.

Those representing the investors who sought a $258 billion payout withdrew their appeal from an earlier ruling by Judge Hellerstein, who sided with Tesla’s CEO in August 2024.

Recall that the lawsuit was initiated in July 2022 after the conclusion of the 2021 bull market. It alleged Musk of illegally interfering with DOGE’s price, especially during an appearance on NBC’s Saturday Night Live where he praised the asset, but also via his many tweets on the matter.

Most of those interactions resulted in immediate price increases for the OG meme coin, including tapping an all-time high of over $0.73 before the SNL show.

Plaintiff Keith Johnson filed the federal lawsuit in Lower Manhattan, requesting $86 billion in damages from Tesla’s chief exec, and also $172 billion for losses incurred on DOGE trades since 2019.

Musk won a dismissal of the market manipulation case in late August this year, which the plaintiff’s lawyers appealed. However, they have withdrawn that appeal, according to a Thursday filing reported by Reuters earlier today.

In response, Musk and Tesla withdrew their motion to sanction the investors’ lawyers for pursuing a “frivolous” case to “extort a quick handout.”

US District Judge Alvin Hellerstein will have to approve both requests now before the case is officially concluded.

Dogecoin’s price skyrocketed after Donald Trump’s win in the 2024 US presidential elections, perhaps due to the aforementioned relationship between the meme coin and the future D.O.G.E leader. It more than doubled its valuation within a month and soared to $0.44. However, it has lost traction since then and is down to $0.36 as of writing these lines.

Wall Street giant Goldman Sachs, once lukewarm on crypto, has surprised the financial world with its newfound commitment to Bitcoin after disclosing an impressive $710 million in BTC holdings through several exchange-traded funds.

The substantial position reflects a significant increase in the banking firm’s exposure to cryptocurrency, which could be key to its continued adoption in the traditional financial space.

Breakdown of Goldman Sachs’ BTC ETF Investments

In a previous disclosure in August, Goldman’s BTC-related ETF holdings were notably smaller, with about $252 million in BlackRock’s IBIT fund and $33.2 million in Grayscale’s GBTC being the two largest.

However, the company’s latest filing, deposited on November 14, shows a dramatic increase. Its IBIT stake has grown 83% to $461 million, while its GBTC position went up 116% to $71.8 million.

Other investments include $95.5 million in the Fidelity Wise Origin Bitcoin Fund (FBTC) and $22.5 million in Bitwise’s BITB, representing a respective 13% and 156% increase in the stakes.

On the other hand, the bank’s allocation of 940,443 shares in BTCO, a joint spot Bitcoin ETF between Galaxy Digital and Invesco, is still the same as it was in August. This stash is worth $59.7 million, bringing the value of the institution’s entire crypto holding to about $710 million.

The revelation comes at a time when the regulatory landscape in the United States is easing, especially with the election of pro-crypto Donald Trump to the presidency. Furthermore, Congress now boasts more than 260 lawmakers with a crypto-friendly stance.

With ETFs providing a more secure vehicle for institutional investments in crypto, analysts believe they could spark wider adoption as more mainstream players begin exploring opportunities in the industry.

Renewed Interest Amid Growing Institutional Adoption

Goldman’s latest 13F filing represents a stark shift from its previous stance on digital assets. In the past, several of the bank’s top executives expressed varying degrees of skepticism regarding the asset class.

For instance, in April, Sharmin Mossavar-Rahmani, the firm’s Chief Investment Officer for Wealth Management, dismissed Bitcoin as a volatile asset that was unsuitable for long-term investment. Lately, however, the company has taken a more open approach, with CEO David Solomon admitting that BTC could serve as a potential store of value.

These holdings are not isolated developments. Prominent endowment manager, the Teachers Insurance and Annuity Association of America (TIAA), also previously known for its conservative approach, similarly disclosed a modest $51,921 position in FBTC. While relatively small, the allocation signals a growing acceptance of crypto, especially Bitcoin, within traditionally risk-averse segments.

[PRESS RELEASE – Ramat Gan, Israel, November 14th, 2024]

Layer-3 Blockchain Brings High-Speed, Stable, Zero-Gas Transactions and a Complete Web3 Ecosystem Bridging Web2 and Web3

Playnance, a leader in Web3 technology, announces the launch of PlayBlock, a cutting-edge Layer-3 blockchain that is transforming the landscape for trading, gaming, and decentralized finance (DeFi). With PlayBlock as the foundation, Playnance aims to drive mass Web3 adoption by offering zero-gas transactions, USD-pegged stability via USDP, and seamless Ethereum Virtual Machine (EVM) compatibility to provide users with a smooth, accessible path from Web2 to Web3.

The Playnance Ecosystem: Five Core Components to Drive Mass Web3 Adoption

Playnance has developed a cohesive ecosystem centered around five integrated components, each designed to simplify and enhance the Web3 experience:

1. PlayBlock Blockchain: A high-speed, EVM-compatible, gas-free blockchain supporting up to 40,000 transactions per second (TPS). PlayBlock, built with Arbitrum Orbit and Gelato’s Rollups-as-a-Service, ensures fast, scalable transactions suited for both gaming and trading.

2. Playnance Studio: A Web3 gaming studio offering a collection of blockchain games built on PlayBlock, delivering secure, transparent, and engaging experiences.

3. Playnance Bridge (CoinsExchange.com): Powered by the Playnance Bridge on CoinsExchange.com, users can effortlessly swap assets with zero in-and-out fees, providing an affordable entry to the Playnance ecosystem.

4. PlayWall Wallet and dApp Store: A decentralized wallet and application hub for PlayBlock dApps, PlayWall simplifies the storage and management of digital assets and will soon launch as a one-stop destination for Web3 applications.

5. Playnance Partners: A partner network offering white-label solutions and development support, enabling businesses to integrate with Playnance’s ecosystem and connect with a growing Web3 audience.

 PlayBlock Benefits for Traders, Gamers, and Developers

For Traders

• Zero-Gas Fees: PlayBlock’s gas-free transactions make Web3 trading affordable and accessible.
• USD-Pegged Stability: PlayBlock uses USDP, a stablecoin pegged to USD, to provide reliable, secure transactions.
• High-Speed Transactions: Supporting high-frequency trades, PlayBlock’s infrastructure is optimized for both professional and retail trading.

For Gamers

• Cost-Free Play: Gas-free interactions allow users to engage in GameFi without extra costs, enabling a more inclusive experience.
• Transparent and Fair: All gameplay and transactions are secured on-chain, ensuring a fair and trustworthy environment.
• PlayWall dApp Store: The soon-to-launch PlayWall dApp Store will provide easy access to all PlayBlock-based games and applications.

For Developers and Partners

• Developer-Friendly, EVM-Compatible Platform**: PlayBlock supports Solidity and provides comprehensive SDKs and APIs for efficient integration.
• Partnership and White-Label Solutions: Playnance Partners offers extensive support for businesses looking to expand their reach into Web3 through white-label solutions.

Playnance’s Vision: Driving Web3 Adoption from Web2 to Web3

PlayBlock and the Playnance ecosystem were developed to make Web3 accessible, scalable, and user-friendly,” said Pini, CEO of Playnance. “With offices in Ramat Gan, Israel, and Dubai, UAE, we’re committed to bridging Web2 users into the decentralized world through an ecosystem that combines zero-gas transactions, stablecoin reliability, and innovative blockchain technology.

About Playnance

Playnance, headquartered in Ramat Gan, Israel, with offices in Dubai, UAE, is a comprehensive Web3 ecosystem focused on transforming the user experience in trading, gaming, and DeFi. By integrating zero-gas transactions, USDP stablecoin, and EVM compatibility within the PlayBlock blockchain, Playnance is dedicated to creating a seamless, accessible transition to Web3 for a global user base.

For more information on PlayBlock and the Playnance ecosystem, users can visit PlayBlock’s official website or join PlayBlock’s community.

Ripple’s price is finally moving, as Bitcoin trades at all-time high values. Yet, there’s still a major obstacle the market should take out before a long-term rally begins.

By Edris Derakhshi (TradingRage)

The USDT Paired Chart

On the XRP/USDT pair’s daily chart, the asset has been rallying impulsively over the last few days, following a rebound from the $0.5 level. The 200-day moving average, around the $0.55 mark, has also been broken to the upside.

Yet, the price is struggling to break past the significant $0.7 resistance level. The RSI also shows a massive overbought signal, which could point to a potential correction in the short term. Either way, the market should break above the $0.7 area soon for a bull market to commence in the coming months.

The BTC Paired Chart

As the Bitcoin price has surged rapidly, the XRP/BTC chart is not showing a similar uptrend to the USDT one. Meanwhile, the asset has bounced from the 700 SAT support zone and is currently testing the 200-day moving average, located near the 800 SAT resistance level.

For Ripple to outperform Bitcoin in the coming months, a breakout above the 800 SAT resistance zone and the 200-day moving average is crucial. On the other hand, if the market fails to continue to the upside, a drop back toward the 600 SAT support area and even lower could be expected.