• Bitcoin (BTC) is trading 1.4% up at a price of $23,050 and a market cap of $443 billion.
• CryptoQuant CEO Ki Young Ju noted that Bitcoin has entered an early bull phase.
• Aptos led the rally in altcoin space jumping by more than 40% in a day amid huge whale accumulation.
The world’s largest cryptocurrency, Bitcoin (BTC), is currently seeing more buying interest as the price of BTC has recently spiked above the $23,000 mark. As of press time, the BTC price is trading 1.4% up at a price of $23,050 with a market cap of $443 billion.
CryptoQuant CEO Ki Young Ju has commented on the current state of Bitcoin and believes that the cryptocurrency has entered an early bull phase. According to on-chain PnL-related indicators such as MVRV ratio, most investors are still underwater. Ju believes that the selling pressure is unlikely to resume at these levels since no one would want to sell at a loss. He also mentioned that BTC whales have been holding their supplies and not moving them despite the recent price surge.
The current Bitcoin rally has also affected the altcoin space, with Aptos leading the rally by jumping more than 40% in a day. This was likely due to the huge whale accumulation in the altcoin.
Overall, the current Bitcoin rally appears to be very promising and is likely to continue for some time. This could be a great opportunity for investors to enter the market and take advantage of the current price surge. However, it’s important to keep in mind that there are still risks associated with the cryptocurrency market, such as contagion and macro risks, which may lead to more bankruptcies, M&As, and capitulations in the coming months.
• Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk Inu (BONK) have collectively accounted for $25.6 billion in trading volume within the past month.
• Dogecoin saw $17.5 billion in trading volume over the past month compared to SHIB’s $7.2 billion, while Bonk Inu has done $885 million in trading volume since its December 25th launch.
• Bonk Inu’s roller-coaster price trajectory has also inspired a non-fungible token (NFT) collection and induced a Solana price surge.
Recently, canine-inspired tokens, such as Dogecoin and Shiba Inu, have made headlines due to their impressive monthly trading volume. Over the past month, Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk Inu (BONK) have collectively accounted for a whopping $25.6 billion in trading volume. This figure is especially impressive when compared to the leading crypto Bitcoin (BTC), which has accounted for $618.7 billion in trading volume over the same period.
Dogecoin is the clear leader in the canine-themed tokens, making up for $17.5 billion of the total trading volume. SHIB follows closely behind, with $7.2 billion in trading volume. Despite being the least-known of the trio, Bonk Inu has seen impressive growth since its launch on December 25th, accounting for $885 million in trading volume.
The success of Bonk Inu, in particular, has inspired a non-fungible token (NFT) collection, and has triggered a surge in the price of the Solana blockchain. This surge has been beneficial to traders and investors, as well as the companies that are building on the Solana blockchain. Overall, the impressive performance of the canine-themed tokens has demonstrated their popularity and potential.
• Ubisoft shares dropped 20% due to the cancellation of their upcoming game and the delay of Skull and Bones
• Three other projects were also cancelled by Ubisoft to focus on existing brands and services
• Ubisoft plans to depreciate around €500m of capitalized R&D
French video game publisher Ubisoft saw its shares plummet 20% after the company announced a slew of bad news. The video game publisher announced that the release of its game „Skull and Bones“ will be delayed. The premiere had previously been scheduled for the 9th of March, but with no specific date fixed, the French company now expects to release the game anytime from April 2023 to March 2024.
On top of the delayed game, Ubisoft also mentioned canceling three other projects. This news was the final nail in the coffin for the company’s share price. The decision to cancel these three projects was made in order to refocus resources on existing brands and live services.
The disappointing sales of Ubisoft’s existing games and the news of cancelations and delays have all taken a toll on the company’s share price. In order to mitigate the losses, Ubisoft plans to ‘depreciate around €500m of capitalized R&D’.
Analysts are expecting the company’s share price to remain volatile in the near-term, as the publisher attempts to recover from this bad news. In addition, the continued delay of the Skull and Bones game means that the game will not be available to the public until at least March 2024.
Ubisoft’s CEO, Yves Guillemot, has tried to remain hopeful and optimistic, stating that the company is “fully committed to our long-term vision of creating the best possible gaming experiences for our players”. He further added that “we remain confident in our strategy and our ability to deliver on our financial targets.”
Despite the company’s optimistic outlook, Ubisoft’s share price still took a hit following the announcement of these delays and cancellations. It will be interesting to see how the company navigates the next few years as it attempts to recover from this bad news.
1. Cryptiony was established to help solve the challenge of filing crypto tax reports.
2. The UK is a notable exception to the lack of enforcement of crypto taxes and filing its report is a criminal offense.
3. Cryptiony provides innovative crypto tax automation platforms to assist with filing tax returns.
Cryptocurrency is becoming increasingly popular and as the sector grows, the more complex the filing of tax reports becomes. To make matters more complicated, different jurisdictions have different regulations on tax filing. The United Kingdom is a notable exception to this, as filing taxes is not only mandatory, but it is also a criminal offence to evade or not file crypto taxes.
This has created a need for innovative crypto tax automation platforms to help with filing tax returns and this is where Cryptiony comes in. Established to help solve one of the most fundamental challenges of filing crypto tax reports, Cryptiony provides a unique solution to this complex problem.
Cryptiony’s platform is easy to use and provides users with all the necessary tools to file their taxes in a timely and accurate manner. It uses a range of proprietary algorithms to ensure that the tax reports are prepared in accordance with the latest regulations. In addition, users can also access expert advice from qualified accountants and tax specialists who can help them with any queries or concerns they may have.
Cryptiony also provides a range of services to help users save time and money. These include a cryptocurrency tax calculator, portfolio tracking, and automated tax filing. All of these features make the platform a great tool for individuals and businesses alike.
Overall, Cryptiony is an invaluable resource for those looking to file their crypto tax reports in a timely and accurate manner. With its innovative platform, expert advice and range of services, it is the perfect solution for anyone looking to stay on top of their crypto taxes.
• Oorbit, a 3D cloud-based platform, has announced a strategic partnership with LG Electronics to bring immersive gaming to smart TVs.
• Through the partnership, LG and Oorbit users can access virtual concerts on Elynxir from Pixelynx and AI generative multiplayer games in Auxworld from Auxuman.
• Pooya Koosha, CTO and Oorbit cofounder, noted that the company has been developing hardware and software for the last decade to meet immersive gaming needs.
Technology has been advancing rapidly and the gaming industry is no exception. Oorbit and LG Electronics have announced a strategic partnership that will bring immersive gaming to smart TVs. This partnership marks a huge milestone in the gaming industry as it will bring virtual concerts on Elynxir from Pixelynx and AI generative multiplayer games in Auxworld from Auxuman to users.
The partnership between Oorbit and LG Electronics is the result of a decade of development to meet the needs of immersive gaming. Oorbit is a 3D cloud-based platform that acts as the connective tissue between virtual worlds, making it easier for developers and brands to bring their experiences into the metaverse. Pooya Koosha, CTO and Oorbit cofounder, noted that the company has worked hard to make the metaverse accessible for all.
Jung Sung-hyun, head of the content service division at LG Electronics Home Entertainment Company, believes that the partnership is an important step in the gaming industry. With this partnership, LG and Oorbit users can access virtual experiences that are both interactive and engaging. The technology is expected to revolutionize the gaming industry and bring a new level of entertainment to users.
In addition to virtual concerts and games, the partnership will also bring other experiences to users. Features such as 3D audio, support for multi-devices, and access to the Oorbit SDK will be available. This SDK will allow developers to create custom experiences that are tailored to the needs of the user.
The partnership between Oorbit and LG Electronics marks a new era in the gaming industry. The technology is expected to revolutionize the way users experience virtual worlds and bring immersive gaming experiences to smart TVs. With the metaverse gaining immense momentum through NFTs and blockchain technology, the partnership between Oorbit and LG Electronics is poised to disrupt the industry significantly.