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Crypto analytics firm Santiment says that the dwindling supply of stablecoins may be a sign that a massive Bitcoin breakout is on the horizon.
According to the market intelligence firm, the circulating supply of Tether (USDT) and USD Coin (USDC), the two biggest cryptocurrency stablecoins by market cap, has been dramatically decreasing since May 2022.
Santiment says that the volume of these two assets continues to decline even as the price of Bitcoin rises, which in the past has foreshadowed parabolic BTC rallies, specifically in July 2021 right before the king crypto went from the $29,000 level all the way to $69,000.
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Show Notes / News Resources:
✔ BTC Wholecoiners Up by 40K: https://bit.ly/3zrzuWZ
✔ Michael Saylor Steps Down As MSTR CEO: https://bit.ly/3d70e7X
✔ Bitcoin Flashes Rare Bottom Signal: https://bit.ly/3JzoHyQ
✔Massive Bitcoin Breakout Prediction: https://bit.ly/3OPQdck
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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Facebook and the Metaverse – The Next Big Thing?
Facebook is one of the tech companies on the forefront of the metaverse. The company owns a number of companies and recently changed its name to reflect the new direction of the company. Zuckerberg has already praised the metaverse and plans to hire at least 10,000 people in the European Union to build the platform. Facebook’s co-founder and president once described the concept as “the next big thing”.
Axie Infinity Shards are a currency in the Metaverse that regulates the platform. Users can earn them through breeding Axies, engaging in matches, and winning tournaments. These shards can then be stoked for prizes in the game. This makes Decentraland one of the most popular metaverses available in the market. Several large firms have also begun marketing on the platform. In the coming years, this new cryptocurrency is expected to become the leading crypto game.
The metaverse offers a whole new level of entertainment. You can interact with other people in real time or make friends with AI avatars. You can create your own avatar, interact with other players, and enjoy the latest entertainment and educational experiences. You can make friends with AI avatars and have out of this world experiences. You can also find friends and make new experiences in the Sensorium Galaxy, a virtual planet dedicated to out-of-this-world experiences. Additional content centers will be built over time, including a planet devoted to meditation and self-actualization.
The company Animoca Brands acquired Sandbox, which became popularized by rapper Snoop Dog. This company pivoted to the blockchain after the acquisition and has been one of the leading VC players in the space. It sold online plots for $450,000 in Sand in-game tokens. Sandbox is also a major shareholder of CryptoKitties and NBA Top Shot creator Dapper Labs. Its expansion into the metaverse has been successful in garnering funding from a variety of venture capital firms.