Market
BingX’s Bold Step in Web3 Entertainment
BingX, one of the world’s leading cryptocurrency exchanges, has launched the first phase of its BingX Launchpool, introducing MATR1X (MAX) — an exciting entertainment platform that blends Web3 game ,and esports with blockchain and AI technologies.
In a recent AMA, Matr1x Co-Founder Madeira and the Chief Product Officer at BingX Vivien Lin talked about what makes Matr1x special and what the future holds.
The Start and Vision
Matr1x was created to show that blockchain technology can be used for more than just finance. Madeira, with a background in finance and crypto, wants Matr1x to be more than just a gaming platform. It’s designed to be a complete system that brings more people into Web3, blending digital entertainment with blockchain.
“Web3 gaming can do things that current games cannot do. It’s a better form of value exchange and a much bigger multiplayer platform. I think Web3 gaming will exist and will take the world of gaming by storm at some point,” Madeira states.
At the center of Matr1x is the Matr1x trilogy game series. This isn’t just about playing games; it’s also about teaching players important ideas like data privacy and the benefits of decentralization.The game’s story unfolds in a future where a powerful company controls everyone’s personal information, prompting players to consider the importance of controlling their own data.
“For those who are new to crypto, we have made it easy to get involved. Players can participate in our games without needing to understand wallets or blockchain. This way, we can attract more users and eventually convert them into the Web3 space,” Madeira says.
Matr1x ecosystem also includes other games like Castile, an RPG card game, and Evermoon, a 5v5 MOBA. These games are part of Matr1x’s broader plan to offer a variety of gaming experiences, appealing to both casual and serious gamers. The platform also includes GEDA, an esports platform for organizing tournaments and events, adding another layer to its gaming ecosystem.
“Many people thought the industry is a scam and doesn’t create any value. But I wanted to build something real and show that blockchain technology has practical applications beyond just finance”, Madeira adds.
How Matr1x Makes Money and Engages Players
Matr1x plans to make money similarly to popular games like Counter-Strike (CS), which earns a lot from skin trading and in-game purchases. This approach has already shown promise, with transactions involving skins and loot boxes reaching 13 million USDT shortly after launch.
To get more people involved, Matr1x will host esports tournaments. These events are a great way to attract a wide audience, from young gamers to experienced players.
“We hosted the Matr1xFile Asian Masters 2024 with the grand final at the Hong Kong Web3 Festival. We got almost 2 million live viewers, showing the immense interest and potential in Web3 gaming and esports,” Madeira shares.
AI is also a key part of Matr1x. The project plans to use AI not only to make the games more fun but also to introduce new ways to play. For example, AI-trained bots could play in games, allowing for both human and AI competitions. This approach could attract a wide range of players, including those interested in AI and learning more about it.
Promising Partnership with BingX
Vivien Lin highlighted the partnership between Matr1x and BingX, showing how this collaboration brings new Web3 and AI-driven content to BingX’s platform. The BingX Launchpool, currently featuring MATR1X (MAX), allows users to earn tokens by staking USDT or BTC, providing a smooth and easy experience.
This launch marks an important milestone for BingX, which has recently partnered with Chelsea FC, showcasing its expansion into the sports world.
“This launch represents our unwavering commitment to delivering innovative and rewarding experiences for our community, allowing them to participate in and explore the future of digital entertainment,” Vivien Lin notes.
The partnership between Matr1x and BingX aims to bring exciting new content to BingX’s platform and attract users interested in the latest digital experiences. This initiative not only encourages participation but also helps users become familiar with the Matr1x ecosystem, potentially turning casual users into active community members.
“Quality assets like Matr1x are very good additions to our community. By partnering with Matr1x, we want to help the project gain more exposure and bring it to our user base. We are glad to bring projects like Matr1x, that can provide long-term value, to our platform,” Lin adds.
Future Plans and Community Involvement
Matr1x has big plans for the future. The project aims to keep developing new games and features, with a strong focus on creating an inclusive and engaging ecosystem.
One unique aspect of Matr1x is its commitment to community involvement. MAX token holders can vote on various aspects of the platform’s future, from game development to ecosystem improvements. This ensures that the project stays aligned with what the community wants.
“We look forward to supporting Matr1x’s growth and exploring further synergies. There’s so much potential, especially with many new games and features coming up,” Vivien Lin comments.
Madeira also talked about potential ways to generate money in the future, such as possibly adding transaction fees. However, the main goal is to build a sustainable ecosystem where the community’s contributions are reinvested into the platform.
Matr1x is a bold new project aiming to change the future of gaming. Combining Web3 technology with AI and esports offers a unique and immersive experience. The project’s focus on educating users about data privacy and decentralization sets it apart, promising not only to entertain but also to inform.
“We think going forward into the future, Matr1x will be much more valuable compared to now. We aim to bring mass adoption to our industry through gaming and social platforms,” Madeira concludes.
Matr1x future success will depend on its ability to attract and keep a diverse group of users. Partnership with BingX and a strong focus on community involvement provide a solid foundation for growth. For anyone interested in the future of gaming and blockchain, Matr1x is a project worth watching.
Disclaimer
In compliance with the Trust Project guidelines, this guest expert article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Price Corrects to $90K: Healthy Dip or Cause for Concern?
Bitcoin price is correcting gains below the $95,000 support. BTC traded close to the $90,000 level and is currently consolidating near $92,500.
- Bitcoin started a downside correction below the $95,000 zone.
- The price is trading below $94,500 and the 100 hourly Simple moving average.
- There is a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it clears the $93,500 resistance zone.
Bitcoin Price Corrects Gains
Bitcoin price struggled to extend gains and started a downside correction below the $97,500 level. BTC dipped below the $96,000 and $95,000 levels. It even dipped below $92,000.
A low was formed at $90,736 and the price is now rising. There was a move above the $91,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low.
Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $93,500 level. There is also a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC/USD pair.
The first key resistance is near the $94,800 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low.
A clear move above the $94,800 resistance might send the price higher. The next key resistance could be $95,750. A close above the $95,750 resistance might initiate more gains. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level.
Another Drop In BTC?
If Bitcoin fails to rise above the $93,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $91,800 level.
The first major support is near the $90,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $91,800, followed by $90,500.
Major Resistance Levels – $93,500, and $94,750.
Market
Dogecoin (DOGE) Price Weakens as Bears Take Control
Dogecoin (DOGE) price hit its highest level since 2021 on November 23 but has since entered a correction, dropping 12% in the last 24 hours. The Ichimoku Cloud, DMI, and EMA indicators all point to growing bearish momentum, with DOGE trading below critical levels and showing signs of weakening upward pressure.
If the downtrend continues, DOGE could test support at $0.34, with a potential drop to $0.14 if selling pressure intensifies. However, a recovery could see DOGE challenge resistances at $0.43 and $0.48, potentially aiming for $0.50, a key milestone not reached since March 2021.
DOGE Ichimoku Cloud Shows The Sentiment Is Changing
The Ichimoku Cloud chart for DOGE shows a bearish outlook. The price is trading below both the Tenkan-Sen (blue line) and Kijun-Sen (orange line), indicating downward momentum. The price has also dropped below the cloud (Senkou Span A and B), suggesting a bearish trend has solidified.
The cloud itself, now turning thinner toward the right side of the chart, signals weakening support, increasing the likelihood of further downward pressure.
If DOGE fails to reclaim the cloud and hold above the Kijun-Sen, bearish momentum could accelerate, pushing the price lower. However, the flat base of the Kijun-Sen could act as a minor resistance, and a bounce back above the cloud would indicate a potential trend reversal.
For now, the Ichimoku Cloud suggests that Dogecoin price is in a critical phase, during which the bears will remain in control unless a strong recovery occurs.
Dogecoin’s Downtrend Could Get Stronger
Dogecoin DMI chart indicates an ADX of 22.84, with D+ at 13.5 and D- at 29.7, highlighting a potential shift in momentum. The ADX, or Average Directional Index, measures the strength of a trend, with values above 25 indicating a significant trend, regardless of direction.
Meanwhile, D+ represents bullish strength, and D- represents bearish strength. In this case, the higher D- compared to D+ confirms that bearish forces are currently dominating DOGE’s price action.
Although the ADX at 22.84 suggests that the downtrend is not yet strongly established, the widening gap between D- and D+ points to growing bearish momentum.
This setup indicates that DOGE is likely entering a downtrend, with selling pressure outweighing buying interest. If the ADX continues to rise above 25 while D- remains dominant, it could confirm a stronger bearish trend, leading to further price declines.
DOGE Price Prediction: Can DOGE Reach $0.50 In November?
Dogecoin EMA lines suggest a shift in market sentiment from bullish to bearish, with the current price trading below the short-term EMA lines.
Additionally, these short-term lines are trending downward, indicating growing selling pressure and a weakening upward momentum. This bearish development suggests that DOGE price is losing its previous bullish support, potentially paving the way for further price declines.
If the downtrend strengthens, Dogecoin price could test key support at $0.34. If this level fails to hold, the price might drop as low as $0.14, marking a significant 61% correction.
However, if DOGE price manages to reverse the trend and regain bullish momentum, it could challenge resistances at $0.43 and $0.48. Breaking through these levels would likely push DOGE toward $0.50, a price not seen since March 2021, signaling a strong recovery.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Solana (SOL) Price Correction Threatens Death Cross Formation
Solana (SOL) price reached an all-time high of $264 on November 22 but has since entered a correction, dropping nearly 10% in the past 24 hours. Indicators like BBTrend and DMI show increasing bearish momentum.
The EMA lines, while still showing a bullish structure, hint at a potential death cross, which could intensify the correction if it forms. As SOL approaches key support levels, its ability to recover bullish momentum will determine whether it revisits resistance at $248 or faces further declines toward $194.
SOL BBTrend Is Negative for the First Time in 8 Days
Solana BBTrend has turned negative for the first time since November 18, currently sitting at -0.54. The BBTrend, or Bollinger Bands Trend, measures the momentum and direction of price movement relative to the Bollinger Bands, with positive values indicating upward trends and negative values suggesting downward trends.
This shift to negative territory signals increasing bearish momentum, marking a stark contrast from its recent peak of 10.8 on November 20, just before SOL reached a new all-time high.
Although -0.54 might not seem significant, it reflects a clear change in market sentiment, with SOL now down nearly 10% in the last 24 hours.
If the BBTrend continues to decline, it could amplify the bearish pressure, pushing SOL into a deeper downtrend. This would likely lead to further price corrections as sellers dominate and the market loses confidence in its short-term recovery potential.
Solana Downtrend Is Getting Stronger
SOL DMI chart shows its ADX rising to 27.24 from 21 yesterday, signaling a strengthening trend momentum. The ADX, or Average Directional Index, measures the strength of a trend, with values above 25 indicating a significant trend, whether bullish or bearish.
In Solana’s case, the rising ADX reflects increasing momentum in its current downtrend, suggesting that selling pressure is intensifying.
The DMI indicators further reinforce this bearish sentiment, with D+ at 12.7 and D- at 36.6. This large gap shows that bearish forces (D-) significantly outweigh bullish ones (D+).
An ADX above 25 and growing in a downtrend indicates that the negative momentum is solidifying. If this trend continues, Solana price could see further declines as the market tilts heavily in favor of sellers.
SOL Price Prediction: No New All-Time Highs For Now?
SOL EMA lines present a pivotal scenario, with the short-term lines still positioned above the long-term ones, indicating a lingering bullish setup.
However, the shortest-term EMA lines are trending downward and nearing a potential crossover with longer-term lines, signaling the possible formation of a death cross. This pattern often indicates a shift from bullish to bearish momentum, raising caution among traders.
If a death cross forms, SOL’s correction could intensify, leading the price to test its nearest support at $204. Should this level fail to hold, SOL price could decline further, targeting $194.
On the other hand, if Solana regains bullish momentum and reverses the trend, it could challenge resistance at $248. Breaking above this level could propel SOL price to surpass $264, achieving a new all-time high and reinforcing bullish sentiment in the market.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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