FIREPIN Token has been very methodical in its methods ahead of its upcoming launch and its support of the virtual world
Shiba Inu (SHIB) arguably became the most famous cryptocurrency in the world last year.
Launching in August 2020, SHIB experienced a simply tremendous 2021, surging 46,000,000% during the year as it swiftly rose up the ranks to become a top 15 cryptocurrency, measured by market cap, according to data from CoinMarketCap.
While, SHIB at the time, didn’t possess any sort of intrinsic value, the hype around the project just kept increasing and FOMO played a part in its rise.
FIREPIN Token (FRPN) is different from Shiba due to the fact that they have aims and objectives on what they want to try and achieve in the DeFi space. Whilst Shiba was launched as a rival meme coin to Dogecoin (DOGE).
Is FIREPIN Token (FRPN) ready for its next step?
With the launch of FIREPIN Token (FRPN) on May 27th, there is just over three weeks remaining of its presale with the project set to enter its third phase in just six days.
It’s been a hugely successful presale for FIREPIN, it began its presale with a starting price of $0.000067 and now sits at a price of $0.002493, at this time of writing.
FRPN has been very methodical in their methods ahead of its upcoming launch and its support of the virtual world and blockchain sector in the digital asset industry is one that has gained them a loyal following.
FRPN tokens will be available on the Binance Smart Chain (BSC), Polygon (MATIC), and Ethereum (ETH) networks with the multi-chain deployment between Ethereum and Avalanche (AVAX) set to be launched in the second quarter of 2022.
With FIREPIN aiming at solving the interoperability issues within the crypto industry, the ability for users to have access to different blockchains and be able to choose which is best for them represents the decentralised theme of cryptocurrency.
Ahead of its launch, FIREPIN aims to launch FRPN on PancakeSwap (CAKE), one of the world’s leading decentralised exchanges as well as aim to get listed on both CoinGecko and CoinMarketCap.
FIREPIN Token has the potential to reach great heights in its journey within the digital asset sphere and that journey begins on May 27th.
Shiba Inu (SHIB) makes inroads in metaverse venture
While their current cryptocurrency performance is nothing to write home about with an 11.0% dip in the past seven days, Shiba Inu (SHIB) has made progress with its metaverse.
Holders of the SHIB token can now officially use the cryptocurrency to buy land in Shib: The Metaverse.
The Shiba team took to Twitter on Wednesday to announce the news with 100,595 different pieces of land available for purchase on the virtual reality platform.
Landowners in the SHIB: The Metaverse will have the capacity to generate passive income through the metaverse.
They will also have the ability to gather in-game resources and generate rewards, however, the news has yet to be revealed.
Join Presale: https://presale.firepin.io/register
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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Report: The Metaverse Might Contribute $320 Billion To Latam’s GDP In The Next 10 Years
A new report indicates that the metaverse might be a significant factor in the growth of economies in Latam and the world in the coming decade. The study, issued by Analysis Group, estimates that Latam might benefit from a surge of $320 billion or an approximate 5% of its GDP, in the next 10 years. This is the biggest percentage share of GDP of the regions in the study’s projection.
Analysis Group’s Metaverse Report
The metaverse is becoming a subject of intense focus in crypto and business at large, and many companies are already projecting the impact that it might have in several countries and areas in the future. In a recent report titled “The Potential Global Economic Impact of the Metaverse” issued by international economic consulting firm Analysis Group, the opportunities that the emergence of the metaverse could open in the next ten years are examined, assuming “adoption begins in 2022.”.
In the document, the researchers compare the rise of the metaverse with mobile technologies and examine the growth as if this new technology were to evolve in a similar way. This industry was selected “because of similarities to the metaverse in the way it combined existing and nascent innovations to fundamentally alter global technological and economic landscapes.”
Major Latam Growth and GDP Estimates
According to the report, the metaverse and its related activities have the potential of representing 5% of the GDP of Latam in the tenth year after adoption begins (2022), contributing $320 billion to the economies of the area. The report also projects that the growth in Latam will be the biggest percentage-wise, while the APAC region would have the biggest growth volume-wise, representing more than $1 trillion of its GDP.
Globally, the study estimates that the metaverse will generate $3.01 trillion, becoming more than 2% of the GDP of the world ten years from now. Per the report, this growth will only happen if the sector reaches its expected potential, having “far-reaching applications, with the potential to transform a wide range of economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.”
Other companies have also predicted the possible impact of this new activity and the economic opportunity it will present for different industries in the future. Grayscale, one of the leading cryptocurrency asset managers, estimated that the metaverse might become a $1 trillion business opportunity in the future. Goldman Sachs also predicts the metaverse will be an $8 trillion opportunity. JPMorgan has stated that this $1 trillion market “will likely infiltrate every sector.”
What do you think about Analysis Group’s metaverse report? Tell us in the comments section below.
Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
ECB Survey Finds 10% Of Eurozone Households Own Crypto Assets
One in every 10 households in six eurozone countries has acquired cryptocurrencies, the European Central Bank (ECB) has found with a new survey. While the richest are most likely to own crypto assets, poor families are not far behind, the poll indicates.
Dutch Households Lead in Terms of Crypto Ownership, ECB Survey Shows
Every tenth eurozone household has purchased bitcoin or other cryptocurrencies, according to the latest Consumer Expectations Survey conducted by the European Central Bank (ECB). Europe’s financial authorities are now trying to establish if the crypto market downturn could affect household budgets, Reuters reported.
The results from the latest edition of the monthly poll were announced Tuesday. The study reveals that an average of 10% of the households in six participating eurozone countries hold crypto assets. Among them, the Netherlands had the largest proportion of crypto owners at 14% while France ranked last with just 6%.
Some 37% of the respondents said they were holding up to 999 euros worth of cryptocurrency (approx. $1,070 at the time of writing), the monetary authority detailed, and 29% had between 1,000 euros and 4,999 euros. Another 13% owned between 5,000 euros and 9,999 euros. The balance had invested more than that, the report unveils.
Across these nations – Belgium, France, Germany, Italy, the Netherlands, and Spain – the richest 20% of the polled were most likely to own cryptocurrencies. At the same time, a greater proportion of lower-income households hold digital assets than the segment between the two groups.
The authors of the survey have also noted that young adult males and highly educated people were more inclined to invest in crypto. “With regard to financial literacy, respondents who scored either at the top level or the bottom level in terms of financial literacy scores were highly likely to hold crypto assets,” the ECB pointed out.
The eurozone’s central bank didn’t miss the opportunity to reiterate its stance that cryptocurrencies are unsuitable for retail investors. The regulator also called on EU authorities to urgently approve new rules for crypto assets in the 27-member bloc. The data has been published as part of ECB’s Financial Stability Review as European legislators are working to finalize the Markets in Crypto Assets (MiCA) legislation.
Tags in this story
Central Bank, Consumers, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, data, ECB, EU, European Union, Eurozone, Expectations, households, Legislation, Poll, Regulation, study, Survey
What do you think about the findings in the ECB’s Consumer Expectations Survey? Tell us in the comments section below.
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Bitcoin Price Could Fall To $8,000, Says Guggenheim CIO
Hearing more negative speculation would be unpleasant for the investors as the recent bloodbath’s catastrophic effects already slowed down crypto markets. But unfortunately, an expert predicted Bitcoin would go far below.
Scott Minerd, Chief officer at Guggenheim Partners, a global investment and advisory firm handling $325 billion under its management, speculated that the Bitcoin price could plummet to $8,000. He is the same man who once said in December that “Bitcoin price should be $400,000.”
Related Reading | XRP Has Broken Below Its Long-Standing Support, What’s Next?
The speculation refers to a nearly 70% drop from today’s price of BTC, fluctuating around $30,000.
BTC Could Fall With The Fed Being Restrictive
Speaking with the CNBC’s Andrew Ross Sorkin in an interview held on Monday at World Economic Forum, Switzerland, he said;
When you break below 30,000 [dollars] consistently, 8,000 [dollars] is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive.
Minerd highlighted the relationship between BTC price and Fed regulation and tightening policies.
Following its previous high of November 10, when BTC’s price marked $69,044, it decreased by around 58% of its value.
“Most of these currencies, they’re not currencies, they’re junk,” he added, saying that “I don’t think we’ve seen the dominant player in crypto yet.”
Comparing the current situation with the dotcom bubble of the early 2000s, he said;
“If we were sitting here in the internet bubble, we would be talking about how Yahoo and America Online were the great winners,” adding that “Everything else, we couldn’t tell you if Amazon or Pets.com was going to be the winner.”
In addition, he urges that digital currency is required to store value. As well as, become a medium of exchange and a unit of account. “I don’t think we have had the right prototype yet for crypto,” said Minerd.
Investors Seem Hesitant To Buy Bitcoin Dips
The collapse of stablecoins, including TerraUSD (UST) and its fellow token Luna, has caused the market to suffer a severe blow.
Edward Moya, an analyst from the well-known forex and CFD trading platform of America, OANDA, has commented that Bitcoin prices are steadied even with the broad risk rally on Wall Street. He added;
It looks like most crypto traders are hesitant to buy the dip. Which most likely means that the bottom has not been made.
Moreover, Moya talked about the European Central Bank President Christine, who previously said digital currencies are “worth nothing.”
Related Reading | Solana (SOL) Could Register An Upswing, Thanks To This Pattern
“It is unlikely that any head of a central bank will endorse bitcoin or the other top coins. Especially as we are years away from a digital euro or dollar,” Moya stated. “It looks like bitcoin won’t really attract massive inflows. Until investors believe most major central banks are nearing the end of their tightening cycles.”
He speculated that giant coin prices will possibly remain choppy this summer.
Featured image from Pixabay and chart from TradingView.com
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