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StreamCoin Starts User Registration for STRMNFT Marketplace

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StreamCoin Starts User Registration for STRMNFT Marketplace

●  StreamCoin now allows user registration for STRMNFT.

●  STRMNFT may be a digital asset marketplace that aims to revolutionize VideoNFTs.

●  StreamCoin CEO Michael Ein Chaybeh and therefore the team are thrilled about the developments.

Users can now register for StreamCoin’s STRMNFT marketplace beginning on May 31, 2022. According to the company, STRMNFT is designed to garner the interest of users, both those who know crypto and those who don’t, by showcasing a user-friendly interface. 

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Following the STRMNFT launch, TNC Group, one among StreamCoin’s leading partners and investors, released an exclusive Lady Ape Club NFT collection. “We are going to be offering discounts on these collections to all or any who participated in StreamCoin’s ICO and staking portal,” TNC Group states.

Stream Chain, the primary mainnet released by StreamCoin, was used to develop STRMNFT. The STRMNFT team adds that to accumulate that speed, the twin Delegated Proof-of-Stake (DDPoS) mechanism, a complicated version of the Proof-of-Stake (PoS) consensus was introduced by StreamCoin. Notably, the DDPoS mechanism consists of 21 Masternodes.

Michael Ein Chaybeh, StreamCoin’s CEO, remarked thereon by saying:

“As per our approach towards developing an ecosystem from user to tech, we designed STRMNFT to be an easy-to-use marketplace and an open space for all kinds of users. With our platforms and services, we aim to draw the road between the crypto enthusiasts and the modern Web 2.0 users who haven’t experienced blockchain or crypto before.”

Moreover, one among StreamCoin’s objectives of global eco-friendly solutions is achieved by the usage of DDPos and Proof of Deed (PoD), a mechanism to mint and verify the NFT ownership of the content. Most importantly, STRMNFT saves power and resources by using the PoD approach.

Michael added:

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“As we observe how the earth is being consumed every day by operating high-capacity servers, power-consuming blockchain networks, and other high carbon-emission platforms, we came up with a replacement, responsible, eco-friendly solution that does not compromise the speed and efficiency, and at the same time, contributes to a far better future for our planet.”

According to the team, other features of the marketplace include following favorite content creators, creating playlists for the video NFTs, and sorting the content supported categories. As a preliminary offer, STRMNFT features a free digital asset minting until July 2022. StreamCoin encourages all users to grab the prospect and register to try STRMNFT for free.

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Altcoins

Ethereum investors should know this reasoning behind ETH’s crash in June

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Ethereum investors should know this reasoning behind ETH’s crash in June

It has been hard for ETH traders to avoid panicking in the last few months as ETH continued to sell with no end in sight. The bears have been easing off their assault every once in a while, paving the way for minor relief rallies. However, even those have been short-lived and the bears continue to show their strength.

A similar scenario is taking place right now following ETH’s latest crash. The market has experienced a few days of relative calmness and some upside. Investors might, thus, expect ETH to experience another sell-off sometime soon if the market continues on the same trajectory. Understanding the key sources of the selling pressure is essential in order to gauge where the market might be headed.

It turns out exchange-traded funds (ETFs) holding large amounts of ETH have been selling off their holdings. 3iQ CoinShares Ether ETF (ETHQ.U) and Ether Fund (QETH.U) holdings are among the top ETFs that invested heavily in ETH in the past. Their Glassnode metrics reveal that they offloaded a significant amount of ETH in June.

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Source: Glassnode

The 3IQ Coinshares ETF offloaded roughly 82,886 Bitcoin between 1 June and 20 June. The Ether Fund ETF sold off roughly 87,385 ETH between 31 May and 20 June. Although these ETFs sold off large amounts of ETH, each of them holds more ETH than the amount they sold.

Catching the next wave

It is easily assumed that this means they will likely continue selling in the next few months given the amount they have left. However, the lower prices have been attracting heavy accumulation and strong growth in the number of users. ETH addresses holding more than 100 ETH have steadily increased in the last 12 months.

Source: Glassnode

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There were just over 42,000 addresses holding 100 ETH and above at the start of July 2021. That number grew to 44,343 addresses by 23 July. ETH had just over 121.5 million addresses by the start of July last year. However, those addresses had increased to 155.1 million by 23 June.

The increase in ETH addresses and balance in addresses especially since mid-June confirms the strong accumulation near the $1,000 price level. ETH’s 30-day MVRV ratio confirms that some address balances that accumulated near the latest lows are already in profit.

Source: Santiment

The MVRV ratio aligns with ETH’s latest recovery. It suggests that there is a strong buy wall near the $1,000 price level. However, the market is still full of uncertainty and the ETFs still have a lot of firepowers if they decide to sell some more.

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Michael is a full-time journalist at AMBCrypto. He has 5 years of experience in finance and forex and more than two years as a writer in the crypto and blockchain segments. Michael’s writing at AMBCrypto is primarily focused on cryptocurrency market news and technical analysis. His interests include motorcycles and exotic cars.

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Bitcoin

Bitcoin: On-chain metrics to consider in this bear cycle before going…

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Bitcoin: On-chain metrics to consider in this bear cycle before going…

The crypto market has had quite a ride this month after bearish waves struck down major cryptocurrencies. The global crypto market capitalization also fell below $1 trillion leading to failing crypto institutions such as 3AC and Celsius. Bitcoin also suffered heavy drawbacks during the period.

BTC reached its lowest levels since December 2020 after dropping below $17,750. Starting the month at around $32,200, the largest-sized crypto has taken a lot of heat and at press time, it was trading at $21,000. The king coin was up by more than 2% in the past day and was just down 0.05% during the week. This was a good signal of recovery after treading through bearish downturns early in June.

Nearing market bottom

On-chain data analytics platform CryptoQuant released the latest update surrounding Bitcoin. It stated that the current BTC price is undervalued. Most on-chain indicators indicate that we are close to a market bottom for Bitcoin.

BTC’s indicator of Net Unrealized Profit/Loss was hovering around -0.06, at press time. This is the initial signal for nearing a market bottom. In the latest crypto crash, there were many addresses that recorded losses when BTC reached the 18-month bottom of $17,744.

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Source: CryptoQuant

According to CryptoQuant, the MVRV ratio has fallen significantly during the current run. At press time, it was estimated at around 0.93, suggesting an undervaluation of BTC.

Source: CryptoQuant

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There was, however, a little spike in Miner’s Position Index but it was still estimated at -0.6. This means that miners are circulating more than their daily distribution in the moving average of the YTD.

Miners have also increasingly offloaded their holdings to exchanges. This can indicate that some miners’ revenue cannot meet the break-even point.

Source: CryptoQuant

For many investors, this is a good time to start accumulating again if they want to recoup their losses. With the regulatory proposal for digital assets already in place in the United States, there is still hope for a bullish surge in the coming months.

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Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.

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Burn Portal

SHIB’s Shibarium Public Beta Is Planned For Deployment In Q3

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SHIB’s Shibarium Public Beta Is Planned For Deployment In Q3

The shiba inu crypto community is anticipating the launch of the layer two (L2) scaling solution Shibarium after it was revealed that the public beta will launch in the third quarter. According to shiba inu developers Shytoshi Kusama and Ryoshi, the layer two solution will bring transaction fees down considerably and possibly to zero.

Shiba Inu’s L2 Solution Shibarium to Launch in Q3, Ethereum Whale Acquires 163.2 Billion SHIB

The meme token shiba inu (SHIB) has seen a 33.6% gain against the U.S. dollar during the last seven days and much of the rise revolves around the Shibarium announcement. Furthermore, an ethereum whale purchased 163.2 billion SHIB during the last 24 hours worth around $1.74 million using today’s SHIB exchange rates. There’s been a lot of discussion about the L2 scaling solution Shibarium on the project’s Discord server. and

Furthermore, the Unification Foundation, a team of developers behind Shibarium, revealed a few updates about the upcoming project. According to the Unification Foundation, Shibarium was launched in a private setting during the alpha testnet phase. The developers explained that the results were successful and “the primary tool under heavy development is the wallet application.”

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The Unification Foundation’s Maziar Sadri further added:

The Shibarium Public Beta Testnet is planned for deployment in Q3, to coincide with the FUND Testnet upgrade which includes the much anticipated IBC/Gravity/wFUND updates. The public Beta Testnet will allow parties to fully interact with the network, including the validation process.

Year-to-Date SHIB Is up 56% Against the US Dollar

While SHIB is up 33.6% during the last week, it is still 87.6% down from the all-time high the token saw in October 2021. Despite this, year-to-date, the SHIB token is still up 56% today against the U.S. dollar. At the time of writing, SHIB holders making money at the current price is around 23% according to Into the Block statistics. SHIB has a large concentration of whales as Into the Block metrics indicate that SHIB’s concentration of large holders is roughly 81%.

SHIB also has a burn strategy that aims to make the crypto asset more scarce by allowing people to burn SHIB in the burn portal. While burning helps reduce the SHIB supply there’s 589,390,205,650,282 SHIB in circulation today. While shiba inu has gained more than 33% during the past week, 10.1% was gathered during the last 24 hours.

What do you think about the upcoming Shibarium launch? Let us know what you think about this subject in the comments section below.

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial feature photo credit: Dennis Diatel

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.

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