• Cryptocurrencies had a strong performance in one of the most volatile weeks, with Bitcoin price jumping to over $27,000.
• This article will provide predictions for some popular altcoins like Cardano (ADA), Conflux (CFX), and Stacks (STX).
• Cardano rose to a high of 0.348 on Friday while Conflux (CFX) price had one of the best performances this week.

Crypto Price Prediction Overview

Cryptocurrencies had a strong performance in one of the most volatile weeks, with Bitcoin price jumping to over $27,000 for the first time in months. This article will provide predictions for some popular altcoins like Cardano (ADA), Conflux (CFX), and Stacks (STX).

Cardano Price Prediction

Cardano price made a strong comeback on Friday after the developers announced a new P2P upgrade for its network. Further, Cardano’s total value locked (TVL) jumped to a record high in ADA terms, signaling that the network is gaining traction. Cardano rose to a high of 0.348 on Friday, which was above the 25-day and 50-day moving averages. The MACD moved above the neutral point while the Relative Strength Index (RSI) moved close to its overbought level. On the hourly chart, Cardano is trading close to the major S&R pivot point. Therefore, with Bitcoin leading cryptocurrencies, I suspect that it will continue rising as buyers target the next ultimate resistance at $0.366, which is about 8% above the current level.

How To Buy Cardano

eToro: eToro offers a wide range of cryptos such as Bitcoin, XRP and others alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with other users and copy or get copied by them as well as learn from them.
Public: Public is an investing platform that allows you to invest stocks, ETFs, crypto and alternative assets like fine art and collectibles—all in one place.

Conflux Price Prediction

Conflux (CFX) price had one of the best performances this week due to China Telecom using their platform for blockchain sim cards and their NFTs doing well too . On-chain data showed that their network was gaining traction after partnering with China Telecom On the hourly chart ,the CFX prices are trading near an all time high , indicating that investors are confident in this project . With increasing institutional interest ,and positive momentum driving prices higher ,it looks likely that it could keep heading higher towards its next resistance at $3 .25 if it breaks out from its current levels .

Where To Buy Conflux?

Binance : Binance offers access to many different cryptocurrencies such as Bitcoin , Ethereum , Litecoin etc.. It also has low fees compared to other exchanges making it ideal for buying CFX . Coinbase : Coinbase offers access to many different cryptocurrencies such as Bitcoin , Ethereum etc.. It also has user friendly interface making it great choice when buying CFX .

• Bitcoin price fell below $20,000 after its biggest dump since November 2022
• The selloff was largely fueled by negative news such as the New York Attorney General suing KuCoin and reports of a US tax on Bitcoin mining
• Ethereum price also plunged to lows of $1,375 in response to the news

Bitcoin Breaks Below $20K Amid Crypto Bloodbath

Bitcoin price fell below $20,000 after its biggest dump since November 2022. The top crypto asset by market cap dumped amid broader selloff for cryptocurrencies, largely fueled by negative news.

What Caused the Selloff?

Among other news, the New York Attorney General has sued KuCoin over offering of unregistered securities, with Ethereum named as one of the securities. Another headline news likely to have fueled fresh downside for crypto was reports that the US was targeting a new tax on Bitcoin mining. Huobi Token’s flash crash and a security breach on Hedera also added to the broader market bloodbath.

What This Means for Bitcoin Price?

The market’s reaction saw Bitcoin price drop nearly 10% in the past 24 hours amid negative cryptocurrency news that could yet catalyse further losses. As the Bitcoin price chart below shows, the value of BTC fell to lows of $19,569 on cryptocurrency exchange Bitstamp.

Crypto Analyst Reaction

Crypto analyst Miles Deutscher highlighted this confluence of negative triggers, noting that stocks and cryptocurrencies have shed over $2 trillion in market cap over th

Conclusion

Overall selloff pressure continues to mount due to these factors and could lead to further dips in bitcoin and other crypto prices.

• Sweat Economy is a web3 project aiming to unlock the economic value of movement, launching its Web3 wallet application and native SWEAT token in the US later this year.
• The Sweat Wallet app has been available in the US since 2016 and rewards millions of users with loyalty points called ‚Sweatcoins‘ for walking.
• Starting on September 12th, US Sweatcoin app users will receive their allocations of SWEAT tokens in proportion to their current ‘Sweatcoin’ holdings and can start earning more tokens for their steps.

Sweat Economy Set To Launch in US

Sweat Economy, a Web3 project seeking to unlock the economic value of movement, is planning to re-launch its Sweat Wallet application and its native token, SWEAT, in the United States later this year. The launch is scheduled to coincide with the first anniversary of the venture’s global launch on September 12.

About Sweat Wallet

The Sweat Wallet operates a Web2 application called Sweatcoin app which has been available in the US market since 2016. The app rewards millions of US users with loyalty points called ‚Sweatcoins‘ for the steps they make when walking. Last year in September, Sweat Economy launched its native token called SWEAT alongside its Web3 wallet application but it failed to pass the regulatory barriers in the US at that time.

SWEAT Tokens Distribution

Starting on September 12th 2023, US customers will be able to install the Sweatt wallet application and receive their allocations of SWEAT tokens according to their current ‚Sweatcoin‘ holdings and can start earning more tokens by walking from that date onwards. The team emphasized that these tokens will not come from additional emissions but from existing token allocations.

Founder Comments

Commenting on this new development Founder Oleg Fomenko said: „It is a great pleasure to finally be able bring our vision of unlocking economic value through physical activity into America.“

Conclusion

The launch of SWEAT tokens and Sweatt Wallet app signifies an important milestone for cryptocurrency projects as it continues to grow mainstream adoption among investors globally especially within regulated markets like America where people are now able capitalize off physical activities like walking.

• Magic Eden Ventures has invested in eleven Web3 game studios.
• The eleven studios range from Web3 focused developers to traditional gaming startups.
• The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features.

Magic Eden Ventures Invests in 11 Web3 Game Studios

Magic Eden Ventures, the venture arm of cross-chain NFT platform Magic Eden, has announced investments in 11 Web3 game studios. The eleven studios include Epic League, MatchDay, Blockstars, Bunch, Bravo Ready, Honeyland, Intella X, and Stella Fantasy. Magic Eden launched its venture arm in July 2022 with a mission to help the gaming industry adopt Web3 technologies.

The Benefits of Investing

The investments are a continuation of its commitment to the development and adoption of Web3 gaming and come just days after the platform expanded to the Polygon blockchain and hired Chris Akhavan as Magic Eden’s Chief Gaming Officer. The partnerships will offer beneficiaries access to partner networks and launchpad capabilities, among other features that can help them achieve long-term success via monetization with access to in-game marketplace support and fan engagement within the broader Web3 ecosystem key drivers of adoption.

Akhavan’s Thoughts on Supporting Studios

Commenting on the support being extended by NFT platform Magic Eden towards these 11 studios Chris Akhavan expressed his belief that these experienced game studios building web 3 enabled games were pioneering something special – fun games with digital asset ownership and powerful economies that enable communities and creators to deepen their connection with the games they love. He added that it was a powerful combination which Magic Eden wanted to help those game studios achieve success through their venture arm.

The Goal is Adoption

The goal for Magic Eden is for all these investments made towards their venture arm is for mainstream adoption of web 3 technology into gaming industry which would be possible if experienced game developers work together with experienced financial investors like Magic Edens Venture Arm for further growth & evolution of this sector .

Conclusion

Through investments from its venture arm ,Magic Edens aims go bring more attention & focus on web 3 enabled games while helping out those game studio’s gain access & benefit from partner networks ,launch pad capabilities & other such features which can be beneficial for them in achieving long term success when it comes down monetization or fan engagement within broader web 3 ecosystem or any such key driver related to adoption .

• Do Kwon, the founder of Terraform Labs, is accused by the SEC of defrauding investors.
• The SEC alleges that he cashed out $100 million worth of Bitcoin through a bank in Switzerland.
• He is currently on the run from authorities.

Charges Against Do Kwon

The United States Securities and Exchange Commission (SEC) recently announced charges against Do Kwon, the founder of Terraform Labs. The regulator’s complaint is that Kwon and his company orchestrated a scheme that saw him defraud investors.

Do Kwon Cashed Out Millions of BTC via Swiss Bank

As Bloomberg reported Thursday 17 February, Kwon’s company had ostensibly moved and cashed out over $100 million worth of Bitcoin using an unnamed banking provider in Switzerland. The transfers began in June 2022 and were reportedly part of more than 10,000 BTC stashed in a cold wallet and periodically withdrawn through the Swiss-based bank.

SEC Allegations

The SEC allege the fraudulent transactions had continued up to the date of its official complaint against Do Kwon and its firm. They claim that Terraform and Do Kwon failed to provide full, fair, and truthful disclosure as required for their crypto asset securities, most notably LUNA and Terra USD (UST). Furthermore they allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors.

Do Kwon on the Run

Unlike Sam Bankman-Fried who was arrested swiftly following the collapse of his firms FTX and Alameda Research, Do Kwon continues to evade capture. An arrest warrant has been issued but authorities have yet to locate him.

Conclusion

Do Kwons‘ alleged actions resulted in significant losses for many investors across multiple crypto projects linked with LUNA ecosystem amid an intensifying crypto winter. Authorities are still searching for him with hopes that he will be brought to justice soon.

• Tether, a stablecoin issuer, released an attestation report for Q4 2022 that showed a net profit of $700 million.
• The report is attested by the accounting firm BDO and shows that the company’s total assets exceed its liabilities.
• Tether CTO Paolo Ardoino noted that the company was able to smoothly execute over $21 billion dollars in redemptions during the chaotic events of 2022.

Tether Reports $700 Million Net Profit in Q4 2022

Stablecoin issuer Tether recently published its latest attestation report for the fourth quarter of 2022. The company reported a net profit of $700 million in Q4 despite the ongoing bear market, which is in addition to its reserves. The December report was attested by the accounting firm BDO and revealed that Tether’s consolidated assets exceeded its liabilities as of Dec. 31, 2022 with a total amount of at least $67.04 billion and $66.08 billion respectively, reflecting excess reserves of at least $960 million.

Profit Part Of Shareholder Equity

The reported profit is part of shareholder equity, meaning what’s in excess of reserves according to a company spokesperson. This also marks the first time Tether has disclosed any profit figures but did not reveal how it made its profits or where exactly they came from.

Statement From Tether CTO

In a statement regarding this cryptocurrency news, Tether CTO Paolo Ardoino said; “Tether once again proved it stability in the troubled year of 2022…not only were we able to smoothly execute over $21 billion dollars in redemptions during the chaotic events of this year, but Tether has on the other side issued over 10 billion USDT, an indication of continued organic growth and adoption of Tether” indicating further confidence from individuals and businesses using their service throughout 2020-2022 despite challenging economic conditions across many industries during this period.

Ceasing Secured Loans From Reserves

This news comes barely two months after Tether pledged to stop issuing secured loans from its reserves as part their efforts to reduce risk within their operations while maintaining liquidity across different markets they are involved with as well as providing users enhanced security when holding or trading their tokens on various exchanges around the world.

Conclusion

Thanks to these efforts and dedication towards providing safe and reliable services through difficult times both financially and economically, it appears clear that these measures have allowed them to generate healthy profits throughout 2021 so far with no signs yet showing any decrease anytime soon due to their consistent commitment towards transparency and risk management within their activities over recent years now proving successful for all stakeholders involved thus far overall

• Indonesia plans to launch its national crypto exchange before the end of June 2023.
• The government has identified five active and licensed exchanges from a list of 25.
• This comes after the passing of the Financial Sector Development and Reinforcement Bill which provides regulatory oversight for crypto exchanges in Indonesia.

Indonesia to Launch National Crypto Exchange

Indonesia is set to roll out its national crypto exchange by June 2023, according to Trade Minister Zulkifli Hasan. The project was initially planned for a December 2022 launch but was delayed due to new developments and other official delays.

Financial Sector Development and Reinforcement Bill

The Financial Sector Development and Reinforcement Bill, also referred to as the omnibus law, is now Indonesia’s primary legal reference for the broader financial services industry. It includes provisions on regulatory oversight of crypto exchanges in Indonesia.

Identifying Exchanges

A review of digital asset exchanges earmarked to join the national crypto exchange is ongoing, with the government having identified five active, registered exchanges from a list of 25 for the role.

Importance of Proper Regulations

Trade Minister Zulkifli Hasan remarked that proper regulations must be put in place before launching the bourse in order to ensure that members of the public who are still learning about cryptocurrency trading do not get harmed by it.

Growing Crypto Landscape in Indonesia

Indonesia has one of the fastest growing cryptocurrency communities amongst countries around the world, and this new development will go a long way towards furthering adoption within Indonesian borders.

• Yield App, a digital wealth platform, has acquired Trofi Group, a platform that offers structured solutions for cryptocurrencies.
• The acquisition brings four new structured products to the Yield App product suite and makes Yield App one of the leading digital wealth platforms.
• The team at Trofi Group boasts of 30 years experience in derivatives desks at JP Morgan and HSBC, which will be utilized in building best-in-class crypto-structured products for Yield App customers.

Yield App, a digital wealth platform that offers safe custody of digital assets, yesterday announced the acquisition of Trofi Group, a platform that offers structured solutions for cryptocurrencies. This move adds four new structured products to the Yield App product suite and makes it one of the leading digital wealth platforms.

The team at Trofi Group boasts of 30 years experience in derivatives desks at JP Morgan and HSBC. This experience will be utilized in building best-in-class crypto-structured products for Yield App customers. The acquisition brings the total number of products offered by the platform to seven. It also gives Yield App the ability to bridge the gap between traditional finance and crypto.

Commenting on the acquisition, the CEO of Yield App, Tim Frost, said: „The acquisition of Trofi Group establishes Yield App as a pioneer within the crypto-structured products arena, making us one of only a few platforms to bridge the gap between traditional finance and crypto. We are grateful to the team at Trofi for trusting us to continue their excellent work in bringing enhanced yield structured products to crypto. We look forward to leveraging their expertise in this area to provide our customers with new opportunities to diversify their portfolios and increase their yield.“

The new products offered by Yield App through the acquisition of Trofi Group will include options, futures, swaps, and structured products. The platform is also working on introducing new products that will enable customers to access the yield potential of their crypto assets without having to sell them.

Yield App is committed to providing its customers with secure and valuable products. The acquisition of Trofi Group is just one step in that direction and Yield App looks forward to further strengthening its product suite and providing its customers with an unparalleled digital wealth experience.

• NFT gaming has become a global trend that responds to user needs and market circumstances.
• The Play to Earn model gave a powerful impetus to the growth of the NFT market and attracted a lot of users.
• However, the P2E model has difficulty retaining users since it is more challenging to make money in the red market and the games cannot offer anything interesting and engaging.

The non-fungible token (NFT) market has become an integral part of the crypto industry. It has evolved from funny cats into a global trend that responds to all market circumstances and user requirements. We have all witnessed the birth of NFT gaming and its several cycles of hype. The most powerful impetus for the jump was the appearance of good Play to Earn model implementation, where enthusiasts could earn thousands of dollars by completing in-game tasks.

Not surprisingly, this motivation attracted a lot of users and started a vast P2E craze, where projects claiming to develop a game received large trading volumes. Their essence is approximately the same – users need to buy in-game objects, resources, and tokens to earn rewards. Nevertheless, the Play to Earn model created a sustainable concept – NFT games are not for fun. They are for making money only.

The problem is that players do not support P2E games since making money during the red market is more challenging, and these games cannot offer anything interesting. Engagement and emotions are the key to success in gaming. A new branch of industry is emerging that listens to users and develops games emphasising engagement and emotions.

Combined with the best traditions of WEB 2.0 games, the use of NFT becomes the realisation of an exciting tool that allows players to immerse in addictive gameplay and unleash their creativity while engaging in the game. With the growing demand for more organic and user-friendly gaming experiences, NFT gaming will be a viable way to keep users engaged and entertained.

NFT gaming has the potential to be an excellent platform for users to make money and have fun. Developers are exploring ways to make the games more attractive and engaging to the users. This could be done by adding rewards, achievements, and competitions that can motivate players to stay in the game longer. Additionally, developers could also explore new ways to monetize the games, such as in-app purchases or crowdfunding options.

Ultimately, NFT gaming is here to stay and is likely to become a more significant part of the gaming industry in the near future. It has the potential to not only provide a platform for users to make money but also to create an immersive gaming experience that can keep users entertained for hours. With the right team, resources, and strategy, NFT gaming can become a powerful tool to generate profits and provide a fun experience for the users.

• Cryptocurrency prices had a strong week as investors reacted to the FTX bankruptcy proceedings and the latest American inflation data.
• AGIX, Aptos, and MULTI are three cryptocurrencies that saw significant price jumps this week.
• AGIX surged to a high of $0.130 this week, the highest point since October 14, and moved above the important resistance point at $0.072.

The cryptocurrency market had a strong week as investors reacted to the news of the FTX bankruptcy proceedings and the latest American inflation data. As investors moved into cryptocurrencies, some of the most popular tokens saw significant price jumps. AGIX, Aptos, and MULTI were among the cryptocurrencies that had strong gains.

AGIX is the native token for SingularityNet, a relatively small but fast-growing AI platform built on Cardano. This week, the AGIX crypto price surged to a high of $0.130, the highest point since October 14. It has jumped by more than 253% from the lowest point in 2022. It is unclear why the token rose but a likely reason is that it was in sync with other AI-focused coins.

Turning to the daily chart, we see that the token went parabolic this week. As it rose, it moved above the important resistance point at $0.072, the highest point on December 13. The coin managed to move above all moving averages and is now approaching the important resistance point at $0.136. In the same period, oscillators like the Relative Strength Index (RSI) and the MACD have all surged. Therefore, it is likely that SingularityNet’s token is about to have a major pullback. If this happens, the next key support level to watch will be at $0.10, which is about 25% below the current level.

Aptos is a blockchain-based asset management platform that allows users to securely store and trade digital assets. This week, Aptos saw its price jump to a high of $0.0047, the highest point since October 2021. The coin has risen by more than 180% from its lowest point in 2021 and it appears to be in a strong uptrend.

On the daily chart, we see that Aptos has been in an uptrend since the beginning of the year. The coin has moved above all the moving averages and is now approaching the important resistance point at $0.0052. While the oscillators like the RSI and MACD are indicating that the coin could be overbought, I suspect that the coin could pullback before continuing its uptrend. The key support level to watch will be at $0.0034, which is about 25% below the current level.

Lastly, MULTI is a multi-asset blockchain platform that allows users to securely store and manage their digital assets. This week, MULTI saw its price jump to a high of $0.0037, the highest point since October 2021. The coin has risen by more than 140% from its lowest point in 2021 and it appears to be in a strong uptrend.

Looking at the daily chart, we see that MULTI has been in an uptrend since the beginning of the year. The coin has moved above all the moving averages and is now approaching the important resistance point at $0.0042. While the oscillators like the RSI and MACD are indicating that the coin could be overbought, I suspect that the coin could pullback before continuing its uptrend. The key support level to watch will be at $0.0028, which is about 25% below the current level.

Overall, AGIX, Aptos, and MULTI all had strong gains this week. While they may be overbought and in line for a pullback, the long-term trend appears to be positive and investors should keep an eye on these coins as they could be in for more gains.