Blockchain-based solution drives significant improvements in data visibility, accuracy and operational efficiency within cargo handling sector, according to research conducted by Aventus at Heathrow Airport

Airlines can benefit from overall cost savings in their cargo handling operations by leveraging Web3-based solutions, according to a study conducted by Aventus & Airport Perishables Handling (APH) at Heathrow Airport.

The existing toolset used for global ULD management has remained unchanged since the 1990s and relies heavily on manual data inputs, resulting in critical challenges with data visibility and accuracy, secure information sharing, and costly ULD losses, damages and delays – costing airlines north of $1.6 billion annually. 

Web3, through blockchain technology, offers a robust solution to the challenges of traditional ULD management, by: 

• Enabling immutable, tamper-proof records that provide a single source of truth, eliminating disputes and improving regulatory compliance;
• Reducing administrative overhead and minimize errors by automating manual processes via self-executing smart contracts; 
• Enabling real-time visibility into ULD location, custodianship and condition, and streamlining data sharing to enable airlines to optimize operations.

In a pilot study conducted at Heathrow Airport, Aventus, an industry-leading provider of end-to-end Web3 solutions for enterprises and parachain on Polkadot, found that its end-to-end blockchain-based cargo handling solution drives improvements in data visibility, accuracy and operational efficiency within the cargo handling sector.

• 90% reduction in communication and error incidents as a result of digitized data capture; 
• 83% reduction in manual documentation time;
• 81% reduction in time between ULD stock updates from 3-4 hours to just 30 minutes, enabling real-time decision-making; and
• 28% reduction in loading times as a result of optimized ULD loading workloads.

Alan Vey, Founder at Aventus, comments: “These results are truly remarkable, underscoring the transformative potential of blockchain for not only the aviation industry but for supply chains globally. We are proud to be empowering enterprises to enhance data accuracy, reduce operational inefficiencies, and achieve greater transparency. As we expand our partnerships across North America, Europe, the Middle East and Asia, we anticipate these results to only improve via network effects.”

Michelle Roosevelt, Director at Aviation Perishables Handling, adds: “Aventus’ technology is fast and responsive, which is key in our busy airport environment. We’ve seen huge improvements in productivity. The app is more than a tool – it’s reshaped how we manage and track our aircraft containers, and the Aventus team’s support and expertise in meeting our needs has been outstanding.”

Aventus’ aviation solution brings partnerships with major enterprises to the Polkadot ecosystem, including Aviation Perishables Handling at Heathrow Airport, Vodafone’s Digital Asset Broker, as well as other major airlines across Asia and the Middle East.

For more information on the study, users can download the full report here. 

About Aventus

Aventus transforms how customers create trust and unlock growth, crafting pioneering Web3 solutions for brands, from creating more connected, integrated experiences to enhancing traceability, transparency, and product authentication. Founded in 2020, Aventus is the only trusted digital product extension platform that provides a secure and reliable Web3 environment for customers to launch market-leading programs and product activations. 

With deep industry expertise and a strong understanding of enterprise needs, Aventus delivers the best feature sets of Web3 with the familiarity of Web2, driving significant brand reputation, trust, and enterprise growth for its customers. Its production-ready, end-to-end Blockchain-as-a-Service software is modular, scalable, and interoperable, giving clients the flexibility they need to respond to rapidly-evolving market opportunities.

Contact

Head of Marketing
Ellie Hyman
Aventus
ellie.hyman@aventus.io

The post Aventus Supply Chain Solution Demonstrates Polkadot’s Impact on Aviation Inudstry appeared first on Blockonomi.

In contrast, Digihorse’s DIGI token, currently in its presale phase and listed at $0.003333, is attracting considerable attention. Predictions suggest that the token will see a significant increase by the time it reaches stage 2 of its listing.

Solana Faces Severe Price Drop

Solana’s price plummeted over 36.72% within a week, with key trading sessions on August 1st and 3rd marking significant losses. Initially, the cryptocurrency dropped more than 10% to around $150, largely due to traders liquidating positions—over $22.44 million in both long and short bets, with longs suffering most amid a bearish outlook.

The downturn continued on August 3rd, with an additional 8% loss in just 24 hours, pushing Solana below the crucial $157 support level. This breach deepened market pessimism, hinting at a potential fall towards $120.

Dogecoin’s Intense Sell-Off Pressure

Dogecoin has experienced a turbulent period, with substantial liquidations shaking its market over the past two days. According to Coinglass, approximately $360 million in Dogecoin trades were erased, including a significant disparity between long and short positions—$299 million of longs and $59.07 million of shorts were liquidated. 

The past 24 hours were particularly harsh, with $246.84 million in longs wiped out, starkly contrasting with $35.16 million in shorts, reflecting a prevailing negative market sentiment.

The impact on Dogecoin’s value is evident, as it has declined 35% over the last week, now trading at $0.08655. Analysis of wallet activity indicates that while 74% of active Dogecoin wallets are currently ‘in the money,’ the remaining 25% are at a loss. This distribution suggests potential sell-off behaviors among profit-taking holders, aiming to capitalize before potentially buying back at lower prices.

DigiHorse (DIGI) Lucrative Presale and Immersive Gaming Experience

DigiHorse Empires is capturing significant investor interest in its presale phase, with $DIGI tokens priced attractively at $0.003333 each from a total supply of 1,125,000,000. This strategic pricing ensures scarcity and potential value appreciation over time.

Beyond its appealing presale, DigiHorse Empires is revolutionizing the Web3 gaming space by merging Play-to-Earn (P2E) mechanisms with immersive, blockchain-powered gameplay. Players can earn real-world value through a fully interactive virtual environment where they can socialize, strategize, and engage in rewarding activities. 

The platform’s vibrant marketplace offers a variety of AI-powered NFT wearables, allowing players to customize their horses with stylish accessories, enhancing both aesthetics and performance.

As DigiHorse continues to expand its ecosystem and execute its roadmap, it is poised to become a leading entity in the cryptocurrency and gaming landscapes, making DIGI one of the most promising DeFi tokens to invest in this year.

Learn More About the Thrilling Opportunities of DigiHorse ($DIGI) Presale Now!

Website: www.digihorseempires.io  

Twitter: DigiHorse Empires  

Telegram: DigiHorse Empires Official 

Presale: Join Now

The post Sharp Drops for Solana and Doge, DIGI Poised for Growth in Next Phase appeared first on Blockonomi.

• Institutions have been buying cryptocurrency following the recent market slump, according to data from FalconX.
• Bitcoin trading volume is almost three times higher than Ethereum’s among institutional investors.
• Various types of institutional investors, including proprietary trading desks, hedge funds, and venture funds, were net buyers during the dip.
• The crypto market recovery coincides with a broader market sell-off that affected major stock indices.
• FalconX’s head of research, David Lawant, indicates that institutional investors see a positive medium and long-term outlook for crypto assets despite short-term volatility.

In the wake of a significant cryptocurrency market correction that wiped out approximately $230 billion in value, institutional investors have emerged as key players in buying the dip.

This trend, highlighted by crypto trading and institutional brokerage firm FalconX, suggests a strong belief in the long-term potential of digital assets despite short-term market turbulence.

According to FalconX, interest in Bitcoin “remains elevated” among institutional investors, with trading volume for the leading cryptocurrency nearly tripling that of Ethereum. This disparity in trading volumes indicates a clear preference for Bitcoin among institutional buyers during market downturns.

1/3 As one of the most active institutional desks in crypto, the past few days have been busy. Here is a high-level color of our flows over the past few weeks and today.

TLDR: Institutions are buying the dip.

— FalconX (@falconxnetwork) August 6, 2024

David Lawant, head of research at FalconX, told Decrypt,

“The overall mood among institutional investors is that, despite the many short-term crosscurrents, the outlook for the asset class remains very positive in the medium and long terms.”

This sentiment is reflected in the buying patterns observed across various types of institutional investors.

FalconX’s data reveals that proprietary trading desks represented 57% of total buy-side flows, while hedge funds accounted for 63%. Venture funds and retail aggregators also showed significant buying activity, at 61% and 72% respectively. These figures demonstrate a broad-based institutional interest in accumulating crypto assets during price dips.

The recent crypto market downturn occurred against the backdrop of a broader sell-off in global financial markets. Major stock indices, including the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, experienced their worst performance since September 2022. This market-wide volatility was primarily attributed to disappointing U.S. jobs data and reduced manufacturing activity, which intensified recession fears.

Despite these challenging market conditions, the crypto market has shown signs of recovery. Bitcoin, for instance, has rebounded by approximately 13% from its Monday lows, trading at around $56,400 as of the latest data from CoinGecko. This recovery, coupled with institutional buying activity, suggests a level of resilience in the crypto market.

Lawant pointed out that last week’s buy/sell ratios among institutional cohorts had dipped below 50%, indicating more sellers than buyers. However, this trend reversed sharply during the recent dip. “The numbers today are way above that,” Lawant stated, emphasizing that “Institutions buying the dip has been a clear trend during this correction.”

This institutional behavior aligns with the “buy the dip” strategy often observed in traditional financial markets. It reflects a belief that the current lower prices represent a buying opportunity, based on expectations of future price appreciation.

The strong institutional interest in cryptocurrencies, particularly during market downturns, could have significant implications for the broader adoption and stabilization of the crypto market. Institutional investors typically bring larger capital inflows and can potentially reduce market volatility over time through their long-term investment strategies.

The post Smart Money: Data Shows Institutions ‘Buying the Dip’ After Recent Price Crash appeared first on Blockonomi.

• Binance saw $1.2 billion in net inflows over 24 hours during the recent market volatility.
• This marks one of the highest net inflow days for Binance in 2024, according to CEO Richard Teng.
• Other exchanges like Bybit, Crypto.com, and OKX also saw significant inflows.
• The inflows occurred despite a sharp market downturn, with Bitcoin and Ethereum prices dropping significantly.
• Overall crypto trading volume surpassed $200 billion on August 5, 2024.

Leading exchange Binance reported a massive $1.2 billion in net inflows over a 24-hour period, coinciding with significant market volatility. This influx of capital marks one of the highest net inflow days for Binance in 2024, according to CEO Richard Teng.

The surge in inflows came during a period of intense market activity on August 5, 2024, when global cryptocurrency trading volume surpassed $200 billion.

Despite sharp price declines in major cryptocurrencies like Bitcoin and Ethereum, which saw drops of 10% and 18% respectively in a two-hour window, investors appeared eager to capitalize on the dip.

Amid the macroeconomic climate and yesterday's market downturn, #Binance recorded a net inflow of US$1.2 billion in the past 24 hours, according to @DefiLlama's CEX Transparency metrics.

This marks one of the highest net inflow days of 2024, indicating strong investor…

— Richard Teng (@_RichardTeng) August 6, 2024

Binance wasn’t alone in experiencing this influx. Other major exchanges also saw significant inflows, with Bybit reporting $301.4 million, Crypto.com $107.8 million, and OKX $97.7 million in net inflows over the same period. This widespread increase in exchange activity suggests a broader trend of investors moving funds onto trading platforms, possibly in anticipation of market opportunities.

Richard Teng, Binance’s CEO, commented on the situation:

“Despite facing significant market downturns over the past several hours, this potentially indicates investors’ confidence and interest in buying in at a lower cost when they deem it’s the right timing.”

He added that the day also marked one of the highest trading volume days for Binance in 2024.

The influx of capital to Binance is particularly noteworthy given the exchange’s recent history. In January 2024, just months after its founder pleaded guilty to various financial crimes and the company paid a $4.3 billion fine to the U.S. Department of Justice, Binance attracted $3.5 billion in inflows. This continued trust from investors suggests a level of resilience in Binance’s market position, despite ongoing regulatory challenges.

The exchange is working to establish a global headquarters, appoint a board, and ensure an independent monitor for three years as part of its agreement with U.S. authorities. Additionally, Binance lacks full licenses in several major cryptocurrency hubs and its U.S. affiliate is dealing with a lawsuit from the Securities and Exchange Commission.

The market volatility that sparked this influx of capital was significant. Over $600 million in leveraged long positions were liquidated during the price drop, indicating the scale of the market movement. Bitcoin’s price fell to a low of $49,780 before recovering to around $56,770, demonstrating the rapid price swings characteristic of cryptocurrency markets.

Despite the turbulence, some industry participants remain optimistic. Ben Rose, general manager of Binance Australia and New Zealand, stated,

“History shows that the cryptocurrency market has demonstrated resilience and recovery following periods of correction. Despite the current challenges, we do not view this downturn as indicative of a long-term negative trend for the crypto market.”

The influx of capital to exchanges during this volatile period could be interpreted in several ways. It may indicate that investors see the price dip as a buying opportunity, believing in the long-term potential of cryptocurrencies.

Alternatively, it could suggest that traders are preparing for further market movements, whether bullish or bearish.

The post Binance Reports Record $1.2 Billion Inflow Amid Recent Market Volatility appeared first on Blockonomi.

• Ethereum’s price has started a recovery wave, rising above $2,350 after dropping to a low of $1,910.
• Technical indicators suggest ETH could climb higher if it clears the $2,680 resistance zone.
• Ethereum’s rebound shows similarities to a pattern from October 2023 that preceded a 178% price rally.
• On-chain metrics like the MVRV Z-Score and STH-NUPL indicate ETH may have hit a bottom.
• Some analysts predict ETH could potentially rally 100% or more before the end of the year if historical patterns repeat.

Ethereum, the second-largest cryptocurrency by market capitalization, is showing signs of a robust recovery after experiencing a significant price drop. The digital asset’s price has bounced back from a low of $1,910, climbing above the $2,350 resistance zone and sparking optimism among investors and analysts alike.

Technical analysis suggests that Ethereum (ETH) could be poised for further gains if it manages to clear key resistance levels. The price is currently trading below $2,640 and the 100-hourly Simple Moving Average, with a bullish trend line forming support at $2,440 on the hourly chart. If ETH can surpass the $2,680 resistance zone, it could potentially trigger a steady upward movement.

The current rebound bears a striking resemblance to a pattern observed in October 2023, which preceded a substantial 178% price rally. This similarity has led some analysts to speculate about the possibility of another significant price surge in the coming months.

On-chain metrics are also providing encouraging signals for Ethereum’s price outlook. The Market Value to Realized Value (MVRV) Z-Score, a key indicator for identifying market tops and bottoms, has dropped to 0.52. Historically, when this metric reaches such low levels, it has often signaled a market bottom and preceded notable price increases.

Another on-chain indicator, the Short-Term Holder-Net Unrealized Profit/Loss (STH-NUPL), has entered the capitulation region, suggesting a prevalence of fear in the market. Paradoxically, such extreme fear has often marked the beginning of price rallies in previous market cycles.

Based on these technical and on-chain indicators, some analysts are making bold predictions about Ethereum’s potential price movement. There’s speculation that ETH could potentially double its value before the end of the year, with some forecasts suggesting a possible rally to around $4,000 or even higher.

From a fundamental perspective, anticipated U.S. Federal Reserve rate cuts could potentially boost demand for Ethereum and other cryptocurrencies. As traders seek higher returns from riskier assets, they may move away from lower-yielding options like government bonds, potentially benefiting the crypto market.

The scenario draws parallels to March 2020, when the market sharply rebounded following the Fed’s intervention in response to the COVID-19 market crash. Current market data shows increasing probabilities of three rate cuts by 2024, which could create a favorable environment for crypto assets.

For Ethereum specifically, the next major hurdles on its potential upward trajectory include resistance levels at $2,680 and $2,720. A clear break above these levels could potentially open the path towards the $2,860 and $2,920 resistance zones. Some optimistic projections even suggest that ETH could approach the $3,000 mark if the bullish momentum continues.

If Ethereum fails to maintain its current momentum and falls below key support levels, particularly the $2,365 zone, it could trigger another decline, potentially pushing the price back towards the $2,250 or even $2,120 levels.

The post Ethereum (ETH) Price Shows Signs of Recovery: Analysts Eye Potential 100% Rally appeared first on Blockonomi.

• BlackRock’s iShares Ethereum Trust (ETHA) has accumulated nearly $900 million in inflows since its launch on July 23, 2024.
• ETHA saw $109.9 million in inflows on August 6, its third-biggest flow day.
• The ETF’s performance puts it among the top six best-performing ETFs launched in 2024.
• Spot Ether ETFs saw combined inflows of $98.4 million on August 6, their best day since launch.
• BlackRock and Nasdaq have proposed a rule change to list and trade options for BlackRock’s spot Ethereum ETF.

BlackRock’s iShares Ethereum Trust (ETHA), a spot Ether exchange-traded fund (ETF), has demonstrated remarkable growth since its launch on July 23, 2024. In just 11 trading days, the fund has accumulated nearly $900 million in total inflows, solidifying its position as one of the top-performing ETFs of 2024.

On August 6, ETHA recorded $109.9 million in inflows, its third-biggest flow day since inception. This surge brought its total inflows to $869.8 million, an impressive feat for a newly launched product. The fund’s performance is particularly notable given the recent volatility in the cryptocurrency market.

Nate Geraci, President of The ETF Store, highlighted ETHA’s success, stating that it now ranks among the top six best-performing ETFs launched in 2024. Remarkably, four of the other top performers are spot Bitcoin ETFs, including BlackRock’s IBIT, underscoring the growing institutional interest in cryptocurrency-based investment products.

After “Crypto Black Monday” (lol) where ETHA took in nearly $50mil…

It vacuums-up approx $110mil today.

That $160mil alone would put it in top 10% of all new ETFs this yr.

ETHA now nearing $900mil inflows 2 weeks in.

Top 6 ETF launch in 2024 (4 of 5 others = spot btc ETFs). https://t.co/JtEIXcu7Yc

— Nate Geraci (@NateGeraci) August 7, 2024

The strong inflows into ETHA came despite a significant drop in Ether’s price. On August 5, often referred to as “crypto black Monday,” Ether experienced an 18% price fall. However, this market downturn didn’t deter investors. ETHA scooped up $47.1 million on that day, demonstrating investors’ willingness to “buy the dip.”

The combined flows for ETHA on August 5 and 6 alone were substantial enough to place it in the top 10% of ETFs launched in 2024, according to Geraci. This achievement is even more impressive considering that spot Ether ETFs are not yet offering staking returns or options trading.

Spot Ether ETFs as a whole saw a combined $98.4 million inflow on August 6, marking their best day outside of their launch day. Fidelity’s spot Ethereum ETF was the second-largest beneficiary, with $22.5 million in inflows, while Grayscale Ethereum Mini Trust and Franklin Ethereum ETF saw $4.7 million and $1 million in inflows, respectively.

Anthony Sassano, host of the Ethereum show The Daily Gwei, commented on the trend, saying, “TradFi slurping up that ETH,” referring to traditional finance’s growing appetite for Ethereum exposure.

While ETHA and other new Ether ETFs have seen strong inflows, Grayscale’s higher-fee Ethereum product (ETHE) recorded an outflow of $39.7 million. When factoring in the $2.2 billion that has left ETHE, the spot Ether ETFs have still seen a combined $473.9 million in outflows overall.

The success of these Ether ETFs comes at a time of significant market volatility. Ether’s price dropped to a low of $2,116 on August 5, a 26% decline from the previous day’s high. However, the cryptocurrency has since partially recovered, trading at around $2,494 as of the latest data.

Looking ahead, BlackRock and Nasdaq have proposed a rule change to list and trade options for BlackRock’s spot Ethereum ETF. This move could provide investors with additional tools to gain exposure to spot Ether, potentially at a lower cost.

The filing stated, “The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot Ether.”

The post BlackRock’s Ethereum ETF Surpasses $850M in Inflows Within Two Weeks appeared first on Blockonomi.

• Solana (SOL) price has recovered significantly, rising over 35% in less than 48 hours.
• SOL reached $149.61, up from a low of around $110 earlier in the week.
• The SOL/ETH ratio hit a new all-time high, with SOL outperforming ETH in recent price recovery.
• Analysts attribute the recovery to overall market sentiment improving after recent sell-offs.
• Solana’s ecosystem growth and upcoming upgrades are cited as bullish factors for the cryptocurrency.

Solana (SOL), the native token of the high-performance Solana blockchain, has demonstrated a remarkable recovery in the past 48 hours, surging over 35% and outpacing many of its cryptocurrency peers, including Ethereum (ETH).

This swift rebound comes after a sharp market-wide sell-off earlier in the week that saw SOL drop to nearly $110.

As of the latest data, SOL reached $149.61, marking a significant turnaround from its recent lows. The cryptocurrency’s impressive rally has caught the attention of investors and analysts alike, with many pointing to both market-wide factors and Solana-specific developments as drivers of this growth.

One of the most notable achievements during this recovery is SOL’s performance against Ethereum. The SOL/ETH ratio hit a new all-time high, reaching 0.061. This metric, which measures the value of one Solana token against one Ether, indicates that SOL has been outperforming ETH in the recent market rebound. While ETH has seen a 9.68% increase from its yearly low, SOL has managed a more than 30% jump in the same period.

Analysts attribute this strong recovery to several factors.

Tim Enneking, managing partner of Psalion, suggests that the recent price movements are largely driven by shifts in market sentiment.

“This pricing roller coaster, of which Solana is only one, albeit prominent example, is due purely to fiat markets acting with irrational fear one day and irrational relief the next,” Enneking stated.

Beyond general market trends, Solana-specific factors are also playing a role in its strong performance. Pat Doyle, blockchain researcher for Amberdata, highlighted Solana’s robust fundamentals.

“Key metrics such as the growth in active users, increased dex volumes, and overall ecosystem expansion reflect the underlying strength of the platform,” Doyle noted.

He also pointed out that compared to Ethereum, Solana’s market cap (currently at 22% of Ethereum’s) suggests potential for further growth.

Seth Ginns, managing partner at CoinFund, emphasized upcoming developments in the Solana ecosystem.

“Solana is benefiting from a number of tailwinds. Onchain activity has been strong, and there’s an expectation for new features and upgrades to ship between now and the big Solana developer conference Breakpoint next month,” Ginns explained.

From a technical analysis perspective, SOL has broken above several key resistance levels. The price moved past the $135 and $140 marks, surpassing the 50% Fibonacci retracement level of the recent downward move from $184 to $109. The next major resistance is seen near $155, coinciding with the 61.8% Fibonacci retracement level.

While the current trajectory is bullish, analysts caution that the market remains volatile. If SOL fails to break above the $155 resistance, it could face a pullback. Support levels to watch include $140 and $135, with a break below potentially leading to a retest of the $122 area.

The broader cryptocurrency market has been mirroring trends in traditional financial markets, with both experiencing sharp sell-offs followed by robust recoveries. This correlation highlights the increasing integration of digital assets into the wider financial ecosystem.

The post Solana (SOL) Price Surges 35%: Reaches All Time High Against Ethereum appeared first on Blockonomi.

• TON blockchain gaming has grown significantly, with about 20% of Telegram users now playing games monthly.
• Hamster Kombat claims to have over 300 million users and is preparing for a large token airdrop.
• Experts predict a potential drop-off in users for many clicker games after their token generation events.
• Hamster Kombat has launched 3 new mini-games and is building a platform combining Web2 and Web3 games.
• Binance has hinted at listing Hamster Kombat’s $HMSTR token, indicating growing interest from major exchanges.

The Open Network (TON) blockchain has seen a significant surge in gaming activity, with Telegram-based games like Hamster Kombat leading the charge.

According to Inal Kardan, TON Foundation’s Gaming Lead, approximately 20% of Telegram’s 950 million monthly active users are now playing at least one game per month, a twenty-fold increase from December 2024.

Hamster Kombat, a tap-to-earn game where players manage a virtual cryptocurrency exchange, has emerged as a frontrunner in this new wave of blockchain gaming.

The game claims to have amassed over 300 million users, with 50 million daily active players. This explosive growth has caught the attention of major cryptocurrency exchanges, with Binance hinting at a possible listing of Hamster Kombat’s $HMSTR token.

The game’s popularity stems from its simple yet addictive gameplay, where users tap to earn in-game currency and invest in various aspects of their virtual exchange.

Players can earn passive income by purchasing different parts of the exchange, each providing a certain number of tokens per hour. This mechanic has kept millions of players engaged, with many anticipating a potentially lucrative token airdrop.

Hamster Kombat recently expanded its offerings by launching three new mini-games within its ecosystem. This move aligns with the team’s stated goal of building a gaming platform that combines Web2 and Web3 experiences to support and extend the utility of their $HMSTR token.

However, the sustainability of such clicker games remains a topic of debate among industry experts.

Andrew Saunders, Chief Growth Officer at SKALE Labs, predicts a “fairly sizable user drop-off post-Token Generation Event for most of these games.” Saunders argues that many users are primarily driven by “airdrop speculation” and may lose interest once the reality of token distribution sets in.

Despite these concerns, Hamster Kombat appears to be taking steps to build a more sustainable ecosystem. The game’s whitepaper outlines plans for future developments, and the team has hinted at a “season two” even before fully revealing the details of their first season.

Dear CEOs ,

As we mentioned in our updated Whitepaper, we are building a gaming platform combining web2 and web3 games that will support and extend the utility of the $HMSTR token!

Starting today, we will be adding new games so that you have a variety of choices and can…

— Hamster Kombat (@hamster_kombat) August 6, 2024

The broader implications of this gaming boom on the TON blockchain are significant. Kardan envisions a future where more complex “mid-core” games will emerge on the platform. He cites Gatto, a Tamagotchi-like game on Telegram, as an example of the type of games that could gain traction in the coming months.

The integration of blockchain technology with casual mobile gaming has created new opportunities for both players and developers. Joseph Cooper, CEO of Earn Alliance, suggests that playing Web3 games could potentially become a more lucrative side hustle than traditional gig economy jobs like driving for Uber.

As the ecosystem matures, the focus is likely to shift from simple clicker games to more engaging and sustainable gaming experiences.

The success of platforms like Hamster Kombat in maintaining user engagement post-token generation will be crucial in determining the long-term viability of this new gaming paradigm.

The post Telegram Gaming Boom: Hamster Kombat Leads the Charge in TON Blockchain Gaming appeared first on Blockonomi.

• Bitcoin is approaching a “death cross,” where the 50-day simple moving average (SMA) crosses below the 200-day SMA.
• The death cross is often seen as a bearish signal, but historically it has not always led to long-term price declines.
• Bitcoin recently dropped to around $49,577 before rebounding to about $56,386.
• Some analysts suggest the death cross could be a lagging indicator and may not accurately predict future price movements.
• Comments from Bank of Japan governor Shinichi Uchida about maintaining easy monetary policy have helped boost risk assets, including Bitcoin.

Bitcoin, the world’s leading cryptocurrency, is approaching a technical pattern known as a “death cross,” causing some concern among traders and investors.

This ominous-sounding term refers to when the 50-day simple moving average (SMA) crosses below the 200-day SMA, often interpreted as a bearish signal in technical analysis.

As of the latest data, Bitcoin’s price stands at approximately $56,386, with the 50-day SMA at $62,488 and the 200-day SMA at $61,664. The recent price action has seen Bitcoin drop to a low of $49,577 before rebounding, marking a significant 30% decline from its July 29 peak.

While the death cross traditionally signals potential bearish momentum, many seasoned crypto traders and analysts caution against overreaction

Historical data shows that death crosses don’t always lead to long-term price declines. In fact, the last Bitcoin death cross occurred in September 2023, after which the cryptocurrency’s value surged by 190% over the following six months.

Matt Hougan, CIO of Bitwise, commented on the current market sentiment: “If you are like most crypto investors, you’re cycling through a brutal swing of emotions, including fear and despair. For many, the emotion that strikes hardest is anger. I feel those emotions too. But I feel something else too—something born from six-plus years of managing money in crypto full-time: Opportunity. Because I’ve seen this movie before.”

1/ History suggests that this weekend's sell-off is a buying opportunity.

A thread on why.

[Note: Not investment advice. Just my opinion.]

— Matt Hougan (@Matt_Hougan) August 5, 2024

The significance of a death cross can vary depending on which moving averages are used. For instance, exponential moving averages (EMAs), which give more weight to recent price action, present a different picture, suggesting the current situation might be a reaction to a dip rather than a long-term bearish trend.

Adding to the complexity of the market analysis, recent comments from Bank of Japan (BOJ) governor Shinichi Uchida have introduced a new factor. Uchida stated that the central bank wouldn’t hike borrowing costs when markets are unstable, potentially weakening the case for continued unwinding of “yen carry trades” and resulting risk aversion in assets like Bitcoin.

“As we’re seeing sharp volatility in domestic and overseas financial markets, it’s necessary to maintain current levels of monetary easing for the time being,”
Uchida said in a speech to business leaders.

This statement has led to a weakening of the Japanese yen and a boost in risk assets, including Bitcoin and stock futures. The cryptocurrency briefly topped $57,300 following Uchida’s comments, while Japan’s Nikkei index rose 4%, signaling a potential risk reset.

Market observers note that the death cross could end up being a lagging indicator, as it’s based on past data. In some cases, it can even be a false signal if there’s no decisive bearish reversal. For example, Bitcoin recorded a death cross in March 2020, only to hit a new all-time high later that year.

The post Bitcoin (BTC) Price Volatility Increases as Death Cross Looms appeared first on Blockonomi.

• A cyberattack targeted about 40 French tourist spots, including the Grand Palais, an Olympics venue.
• Hackers demanded a ransom in cryptocurrency, threatening to leak financial data.
• The attack affected data processing systems of museum shops but did not impact Olympic Games programming.
• The French Anti-Cybercrime Brigade (BL2C) is investigating the incident.
• France’s national systems security agency (ANSSI) stated the attack does not affect systems involved in running the Olympics.

A cyberattack has targeted approximately 40 French tourist spots, including the Grand Palais, a venue for the Paris 2024 Olympics. The incident, which occurred over the weekend of August 3-4, 2024, has raised concerns about cybersecurity during the ongoing Olympic Games.

The hackers exploited data processing systems of museum shops and boutiques across France, gaining access to sensitive financial information. The Grand Palais, which is hosting fencing and martial arts events for the Olympics, confirmed it was among the victims of the attack.

According to French newspaper Le Parisien, the director of information systems for the Grand Palais discovered the breach on August 3. The attackers have demanded a ransom to be paid in cryptocurrency, threatening to leak the collected financial data within 48 hours if their demands are not met.

The exact amount of the ransom and the specific cryptocurrency requested remain undisclosed. It’s also unclear whether any of the affected institutions plan to comply with the ransom demands.

In response to the incident, French authorities have taken action. The French Anti-Cybercrime Brigade (BL2C) has opened an investigation into what they describe as an “attack on an automated data processing system, organized extortion, and criminal association with a view to committing a crime or offense punishable by five years’ imprisonment.”

The French National Agency for Information Systems Security (ANSSI) was promptly alerted to the situation. ANSSI has reassured the public that the cyberattack does not affect the information systems crucial to the operation of the Olympic and Paralympic Games. “This incident does not affect information systems involved in the running of the Olympic and Paralympic Games,” an ANSSI spokesperson stated.

Despite the attack, museum shops targeted in the incident remain operational as of the time of reporting. The Louvre Museum, initially reported to have been impacted, has since denied any involvement in the breach.

This cyberattack is not an isolated incident in the context of the Paris Olympics. French Prime Minister Gabriel Attal had announced in late July, just days after the start of the Games, that nearly 70 cyberattacks linked to the Olympics had already been thwarted.

In recent years, similar attacks have affected various sectors of the tourism and entertainment industry. Last fall, Las Vegas-based casino operator Caesars reportedly paid about $15 million to hackers following a ransomware attack.

In January, several prominent museums in the United States, including the Museum of Fine Arts in Boston, experienced outages due to cyberattacks on their software systems.

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