September 20th, 2022

Will NFT Sales Surge because of Ethereum Merge?

Ethereum got its long-awaited upgrade. After years of planning, development, and delays, the world’s second-largest coin by market capitalization has moved to proof-of-stake. The Merge is up and running, yet the price is still down but NFT sales went up after months of downtimes.

Sales volume and prices of NFTs have surged, according to crypto Footprint Analytics, a crypto big data company. Before the merge, Bored Ape’s sales were up by more than 45% from a week before. They have transacted one of the NFTs at 130 ETH, which was around $230,911.25 at the time. After Merge, they made around $7 million in sales. While CryptoPunks had 25% more than its previous week. Doodles, an NFT collection had more than a 1,200% jump in sales after it secured a $54 million funding round led by Reddit founder Alexis Ohanian’s venture capital firm, Seven Seven Six.

Four seconds after the Ethereum Merge, the first transaction of an NFT created using the proof-of-stake (PoS) consensus was approved. Block 15537393’s timestamp for the Merge was 6:42 AM UTC on Thursday. A user promptly purchased an NFT at block 15537394 with 36.8 ether (ETH), or $53,403 at the time.

For now, the increase in demand for NFTs is a bright spot for the industry. The communities who are watching the NFT market closely also pointed out that there is a chance for the 5th month of continuous dive in the overall NFT market. Others who do not know what will the merge bring to the table were hoping that the transaction fees would be lower and will bring in more sales and liquidity.

Anndy Lian, best-selling book author “NFT: From Zero to Hero” commented: “Users will need to wait for the Surge, Verge, Purge, and Splurge improvements to see a reduction in transaction costs and boost scalability significantly. Low transaction costs are crucial because large costs make many NFT use cases unfeasible, particularly in the gaming and metaverse industries. Numerous NFT gaming weapons, avatars, and skins will probably trade for relatively little money, therefore for them to be profitable, transaction times must be quick and costs must be cheap.”

Lian added that the current cycle looks speculative as the spike effects only happened to a few projects and not all. Whether the prices of existing NFTs would come back is still unclear.

Suppose the legitimacy of both the PoS and PoW chains is recognized by major players in the NFT ecosystem. In that case, the split EthereumPoW chain may dilute the value of existing NFT collections owing to increased supply. This would also create a tangled scenario in terms of intellectual property and commercial rights, perhaps leading to huge disputes amongst NFT owners.

Eventually, the market will determine which NFT assets are valued based on liquidity and community acceptability. Investors and traders may want to wait till the dust settles before making any decisions about their Ether and NFT holdings.

Source: https://www.benzinga.com/22/09/28917641/will-nft-sales-surge-because-of-ethereum-merge

Anndy Lian

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com

j j j

July 22nd, 2022

Green Satoshi Token price prediction: Will M2E crypto rebound?

The green satoshi token (GST), the utility token of the STEPN project, started 2022 with a high, but soon burnt out amid a wider negative shift in investor sentiment. Being the pioneer of move-to-earn (M2E) projects, STEPN, a Web3 app powered by the GST token, inspired crypto enthusiasts to exercise while earning money.

However, as the wider crypto market collapsed, following the fall of the TerraUSD stablecoin and its sister cryptocurrency LUNA, so did GST. Its price action relies on the performance of the Solana (SOL) blockchain, where it was built.

What do experts have to say, and what other factors will shape the green satoshi token price prediction?

What is the green satoshi token?

The green satoshi token (GST) is the native cryptocurrency of the Web3 lifestyles app STEPN, according to the project’s whitepaper.

STEPN combines SocialFi and GameFi elements and is built “around an essential daily activity for most people – moving around”.

When STEPN launched in December 2021, it was the first M2E mobile non-fungible token (NFT) game powered by the Solana network. The game was created by a fintech studio based in Australia named Find Satoshi lab.

In the game, users equip themselves with NFT Sneakers and can either jog, walk or run outdoors to earn GST tokens. Players can also choose whether they want to lease or sell their NFT Sneakers on the in-app Marketplace.

“With Game-Fi, STEPN aims to nudge millions toward a healthier lifestyle, combat climate change and connect the public to Web 3.0, all while simultaneously hinging on it’s Social-Fi aspect to build a long-lasting platform fostering user generated Web 3.0 content,” the platform’s whitepaper said in a statement.

STEPN is currently under a Public Beta Phase. The application makes profit from small taxes on in-app activities, like NFT trading, Shoe-minting and Shoe-rental.In addition, part of STEPN’s profit goes to buy Carbon Removal Credit on the blockchain to combat climate change.

STEPN has a dual token system:

GMT is the platform’s governance token
GST is the platform’s utility token.

The two tokens are utilised for different purposes within the platform. GST tokens can be used to level up or mint new NFT Sneakers or even cash out for profit, meanwhile GMT tokens can be used for customisation fees.

STEPN has a burn mechanism which means tokens are available in a limited supply. Both GMT and GST tokens are burned through a number of in-app activities.

In order to become part of the STEPN community, a person must first download the STEPN mobile app, register an account and open a wallet. Users deposit SOL tokens to the built-in STEPN wallet with which they can buy NFT Sneakers.

Activity rewards motivate users to use the app everyday for sports, thus pushing them to continue to exercise.

The total supply of GST tokens amounts to a little over 286m – over 276m tokens are currently in circulation, according to data provided by CoinMarketCap, as of 20 July. GST has a market capitalisation surpassing $18m and is ranked as the 621st largest cryptocurrency.

In 2021, STEPN finished fourth out of over 500 projects at the Solana Ignition Hackathon.

GST price analysis

The GST token was arguably one of the most successful tokens of 2022 as it embarked on a bullish trend shortly after launch. Debuting at $1.8451 on 22 December 2021, the token gained nearly 70% in two weeks as it reached $3.1216 on 6 January 2022.

Even though it managed to lose some momentum between 16 and 20 January, GST started a steady climb to $2.9423 by 20 February, up from $1.6839 lows a month earlier.

Between 1 and 6 March, the GST token jumped by nearly 50%, reaching its then all-time high of $3.9838. A second jump followed in April, when the token first reached $4.7337 on 1 April, surging to $5.4805 six days later.

After some downward action and fluctuation between $4 and $5, the token skyrocketed to $7.8233 – a 42.7% surge since its 7 April value and a 324% jump since its launch in December 2021.

Following the massive surge, the token dipped on the following day and lost over 45% of its value as it fell back to the $4 levels. The token is trading at its record lows, as of 20 July.

As of 20 July, the coin was valued at $0.06673, a 96.4% decline since its launch in December and a 99.1% fall since its all-time high in April.

This comes amid a wider shift in market sentiment to risk-off due to the tightening cycle of monetary policy, soaring inflation, the war in Ukraine, and fears of recession, with cryptocurrency veterans bitcoin (BTC) and ether (ETH) down 48% and 56% respectively year-to-date.

Key GST news that are driving the token

The GST token seemed to have been performing fairly well at the start of May. However, the positive rally was short-lived as the token soon embarked on a bearish trend following the collapse of the TerraUSD (UST) stablecoin and its sister token LUNA that brought down a sea of other cryptocurrencies.

In addition, the token was affected by a Solana outage on 30 April. The outage happened in Solana’s Mainnet Beta cluster which ceased producing blocks as result of stalled consensus. Even though the system was quickly restored and the GST token ended up dipping by 48.7% in a day.

The biggest STEPN news, however, came on 22 April, Earth Day 2022, several days before the GST token reached its all-time high, as the coin announced its goal of carbon neutrality. As the company noted:

“STEPN, a Web3 lifestyle app, is kickstarting their mission toward combating climate change and achieving carbon neutrality with a purchase of $100,000 worth of Carbon Removal Tonnes, or 5,797.1 tonnes. STEPN will continue to power the movement to reverse climate change with a monthly commitment to pay for carbon removal.”

On 27 April Coinbase announced that it would be adding support for GMT and GST tokens. A day later, OpenSea said that STEPN NFTs were “now available” on the platform.

Following the news, the GST token surged by around 65% in April to its all-time high of $7.8233.

In addition, at the start of April, STEPN released its first quarterly GMT results, which saw a profit of 198,635.62 SOL ($26,815,807.35 at the time) from the platform’s NFT marketplace trading and royalty fees.

One week later, the platform announced that over the previous few months, the app was used by 200,000 daily active users. In the aftermath of positive news, the GST cryptocurrency grew by around 15%, from $4.7337 on 1 April to $5.4422 on 8 April.

On 28 February the company announced that it was looking into launching two updates: a merge spending account with Wallet and an NFT marketplace upgrade. On 1 March the platform announced a giveaway and the token was made available to buy on the Binance Launchpad.

GST price prediction: What should traders look out for?

In the third quarter of 2022, STEPN is planning to launch the spin-off of their NFT marketplace. In the fourth quarter it plans to implement a system where players can rent each other’s sneakers for running.

According to Mark Fidelman, the founder of SmartBlocks and host of the Cryptonized podcast, the GST token “is a speculation”.

“That’s what’s driving its price action. It’s a pretty cool concept, but I don’t think the token price is going to go anywhere in the future,” he told Capital.com.

Fidelman added that whilst STEPN’s main goal is to pay people to be healthy and move around, the token has no other value that could be driving it forward.

“I mean, yes, [people] have to buy NFT’s before they can start moving around on the app and there’s some money there, but the amount of money [people] are spending, or the token is spending, on people moving can’t be paid back because there’s no underlying value there.”

Anndy Lian, the chief digital advisor at Mongolian Productivity Organisation and the author of Blockchain Revolution 2030, added that in order for GST to pick up its pace again, STEPN must try to “find a place within the GameFi space”.

“GST has to scale up or find more users sustainably. Earning $1 daily by walking seems to be more sustainable compared to $30. The company should rethink its marketing strategy for it to scale up,” Lian added.

“When that is addressed, they can find real investors who are interested in their product and not just trying to make money off it. This will also help them to position themselves to attract more prominent institutions or sports brands to buy into their company too.”

Both Lian and Fidelman agreed that STEPN proposes a unique concept, however, the company must work on their marketing strategy and value in order to return to past highs.

“STEPN is the pioneer in the move-to-earn space. This will continue to give them a good head start. I wrote a lot about them in my new book titled NFT: From Zero to Hero. My friendly piece of advice for the team is to get them to sprint and not walk,” Lian concluded.

Fidelman added: “Maybe if they figure out an exercise model that works, maybe that would work. But this has been tried with startups and failed miserably.”

Green satoshi token price prediction

In line with recent action, algorithm-based forecasting service Wallet Investor gave a bearish green satoshi token price prediction.

As of 20 July, the site called GST is “a bad investment”. According to the website’s future GST coin price prediction, the token could fall to $0.0223 in 2023.

DigitalCoinPrice on the other hand, had a more bullish view on the GST crypto price prediction.

According to its green satoshi token price prediction for 2022, the cryptocurrency could average at $0.0998 by the end of the year.

The site’s green satoshi token price prediction for 2025 suggested that the coin could average $0.13 and $0.22 by 2028. Meanwhile, DigitalCoinPrice’s long-term green satoshi token price prediction for 2030 indicated that the cryptocurrency could average at $0.31 during the year.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence, and never invest or trade money you cannot afford to lose.

Original Source: https://capital.com/green-satoshi-gst-price-prediction

Anndy Lian

www.anndy.com

j j j

May 11th, 2022

Apecoin (APE) price prediction: Will the debut surge keep up?

Ape coin (APE), the native cryptocurrency of the popular non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), became the biggest metaverse token by market capitalisation a little over a month after its release. The coin has dethroned Decentraland’s coin (MANA), which has been around since early 2020.

Recent news that ApeCoin will implement a staking mechanism in the coming weeks as well as Elon Musk briefly changing his profile picture on Twitter to a collage of a number of avatars from the BAYC NFT collection, drove the APE NFT coin price up on 5 May as it managed to gain nearly 19% of its value in less than 24 hours.

Will the future APE coin price prediction be as bullish as its early start, and what are the key projections for the popular NFT cryptocurrency?

What is ApeCoin?

ApeCoin (APE), was launched on 17 March 2022 by the founders of the BAYC NFT collection Yuga Labs, which also formed the APE Foundation, a means of aiding the decentralised development of the APE ecosystem.

Created with the goal of becoming the “heart of art, gaming, entertainment and events on the blockchain”, the APE Foundation will be in charge of overlooking the decisions of the ApeCoin Decentralised Autonomous Organisation (DAO).

The crypto will be responsible for administration, bookkeeping, project management and other tasks necessary to ensure the DAO community can build new Web3 applications and services, such as the APE NFT coin itself.

ApeCoin’s main focus is decentralisation and through the APE Improvement Proposal Process it will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, upcoming projects, partnerships and more.

The ApeCoin Foundation is managed by a board which oversees the community and carries out DAO proposals. The initial board serves a term of six months and is voted in by DAO members.

The current members of the board are:

Reddit co-founder Alexis Ohanian
FTX head of ventures and gaming Amy Wu
Sound Ventures principal Maaria Bajwa
Animoca Brands co-founder and chair Yat Siu
Horizen Labs president and general counsel Dean Steinbeck

The APE NFT coin is an ERC-20 cryptocurrency designed on the Ethereum protocol. Apart from governance, the token:

Provides holders with access to certain parts of the ecosystem unavailable to others, such as exclusive games, merchandise, events and services.
Can be incorporated into other services, games and projects.

ApeCoin was launched through an airdrop, which allowed certain groups of holders to receive the tokens as rewards. The cryptocurrency’s total supply stands at one billion. No new tokens can be minted.

Upon release, the tokens’ total supply was distributed as follows:

62% was allocated to the ecosystem’s fund and given to BAYC and Mutant Ape Yacht Club (MAYC) NFT holders.
16% was allocated to Yuga Labs and charity.
14% was allocated to the companies and people that helped to create the project.
8% was allocated to the BAYC founders.

At the time of writing (9 May), over 284 million APE coins were in circulation according to CoinMarketCap. APE’s market capitalisation surpassed $3.18bn, making it the 33rd biggest cryptocurrency.

Apecoin price analysis following successful debut

The APE NFT coin saw its value surge 126.8% on the first day of launch, reaching $16.47, up from $7.2604 in less than 24 hours, as seen on the price chart below. The coin retreated to $14. 03 by the end of the day and continued to move sideways throughout 19 March 2022 before falling to values just above $9 on 21 March 2022.

By 24 March, the APE token price climbed back to over $14 as anticipation grew ahead of the first ever ApeCoin DAO voting event, which was due to take place on the day. The cryptocurrency peaked at $15.43 on 28 March 2022 before embarking on a bearish journey into April 2022.

In April 2022, the APE token price peaked on three occasions:

On 10 April at $12.27 – the Bored & Hungry restaurant in California became the first ever catering establishment to accept payments in ether (ETH) and APE.
On 21 April at $17.31– following announcements that ApeCoin was cooperating with the OliveXFitness Metaverse to grant APE token holders special access to the metaverse’s move-to-earn Dustland games.
On 29 April at $26.19 – its all-time high value, as three new proposals were opened for ApeCoin DAO members to vote on.

On 30 April 2022, one of the largest NFT marketplaces, OpenSea, announced that it would start accepting the APE cryptocurrency for NFT purchases on its platform. This led to an over 30% one-day gain as the APE price rose to just below $25.

Following 102% April 2022 gains, the APE NFT coin chart started on a downwards trend, losing over 45% of its value by the time of writing (9 May). Today the coin is trading at $11.24.

In terms of APE token technical analysis, short-term sentiment for the token at the time of writing (9 May) was largely bearish.

A Relative Strength Index (RSI) reading of 41.89 was pointing towards neutral territory. A reading of 30 or below would indicate that the asset is becoming undervalued. Meanwhile, the token was trading below its three, five and 10-day moving averages, indicating a bearish trend.

Will apecoin go back up? Future outlook

The debut success of the coin and its speedy price reversal leaves a question on investors’ lips: is apecoin a good investment? There are multiple factors at play.

Recent ApeCoin news saw ApeCoin DAO members approve two measures that would let them lock their tokens for a period of time in exchange for more apecoins in future. The finalisation of this decision on 5 May 2022 led to a mini surge in the APE price, which jumped by 23.9%, up from $14.13 on the previous day to $17.52.

In an announcement in a Twitter thread, ApeCoin noted that the new updates would be implemented “within the next week or two” following the end of the voting.

In addition to that, on 5 May, another proposal was going live for a community-wide vote to deal with security tools and education. The vote is set to end by 12 May 2022. If successful, the plan will be implemented in three phases.

Other ApeCoin news that could move the APE price in the future includes the launch of Otherside on 1 May 2022 – the largest expansion of the Bored Ape NFT universe, powered by apecoin.

Otherside is an online metaverse and role-playing game connected to the BAYC ecosystem where players can purchase lands and real estate. It was reported that 45 minutes after the metaverse’s launch BAYC sold over $100m worth of digital real estate.

Following the 1 May successes, crypto analyst and the founder of Eight Global, Michaël van de Poppe, said on Twitter that the APE price prediction had potential to embark on a bullish trend towards $19 and even $20.

One of the main reasons to why the APE cryptocurrency has managed to generate a lot of buzz was because it was built on the Ethereum blockchain, BigOne Exchange chair in Asia, Anndy Lian, told Capital.com.

“Looking at some of the volumes transacted on Whalealert and Whalestats, I can safely say that APE is one of the most purchased altcoins amongst the Ethereum whales. This is a very positive sign for the token and I must say APE is not just another ordinary meme coin,” he added.

However, the token could benefit from some more utility, Lian noted.

“The faith and comradeship within their community help keep the price and volume going, while doing so the other immediate thing they should really look at is to increase utility online and offline. APE is currently being used in Benji Bananas as an in-game currency and E11EVEN Residencies in Miami has also accepted APE as payment.”

Lian concluded that the proposal from APE owners to lock up and stake their coins are “very sound measures to keep the token sustainable, especially in bear markets”.

ApeCoin price prediction 2022-2025, 2030

Algorithm-based forecasting service Wallet Investor gave a bullish outlook on the future of the APE/USD forecast at the time of writing (9 May), calling apecoin “an awesome long-term investment”.

Based on its analysis of past price performance, Wallet Investor expected the APE target price to grow to $30.501 by 2023, $43.940 by 2024 and reach $87.357 by 2027.

DigitalCoinPrice echoed an upbeat apecoin crypto price prediction, projecting that the token’s value could steadily grow in the coming years. The site noted that APE could end this year at $16.23 and reach $25.30 by the end of 2025.

By the end of 2027, the site’s APE crypto price prediction suggested that the coin could trade at $35.25. Its long-term APE prediction showed that the cryptocurrency has the potential to reach $54.26 by 2030.

Note that predictions can be wrong. Forecasts and analysts’ expectations shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

Original Source: https://capital.com/apecoin-ape-price-prediction