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
PEPE Price Eyes a Potential Return to Its Highest May Levels
PEPE price has been on a strong rally, climbing nearly 60% over the past seven days. The bullish momentum has been fueled by positive technical indicators, including supportive EMA lines and a healthy RSI level.
However, some signs suggest that while buyers remain in control, the intensity of the uptrend may be starting to moderate.
PEPE’s Current Trend Is Still Strong
PEPE’s ADX is currently at 46.13, a slight decline from over 50 just a day ago. This drop suggests that while the trend strength remains strong, the intensity of the uptrend might be weakening somewhat.
Despite this, PEPE has been in a solid uptrend, climbing 59.69% in the last seven days. This indicates that buyers are still in control, but the momentum could be starting to moderate.
The Average Directional Index (ADX) is a technical indicator used to measure the strength of a trend, regardless of its direction. ADX values below 20 suggest a weak trend, while values above 25 indicate a strong trend. With PEPE’s ADX currently at 46.13, the uptrend remains powerful, although the recent dip in ADX hints that the trend’s vigor might be tapering off.
It suggests that while PEPE is still experiencing bullish momentum, investors should watch for signs that the strength of the move may be losing some steam, which could lead to a period of consolidation.
PEPE Is Not In The Overbought Stage Anymore
PEPE’s Relative Strength Index (RSI) is currently at 60.56, down from nearly 80 just a few days ago. This decrease indicates that the buying pressure has eased significantly after reaching overbought conditions.
The drop in RSI suggests that while there is still positive momentum, it is no longer as intense as it was recently, and the risk of an immediate correction has lessened.
Typically, an RSI above 70 means buyers have pushed the asset into overbought territory, which could trigger a price correction. On the other hand, an RSI below 30 suggests sellers have driven the asset into oversold conditions, possibly creating a buying opportunity.
PEPE’s RSI is currently at 60.56, which means it is no longer in overbought territory but still shows a healthy level of bullish momentum.
PEPE Price Prediction: Biggest Price Since May 2024?
PEPE’s EMA lines are currently displaying a very strong bullish configuration, with short-term EMAs positioned above long-term EMAs, and the price sitting comfortably above all of them.
If the uptrend continues, PEPE could test its next resistance at $0.00001580. Should this resistance be broken, the price could potentially climb to $0.00001726, which would be its highest level since May—a move representing a possible 30.85% increase.
However, if the bullish momentum fades and selling pressure emerges, PEPE price could correct down to a support level of around $0.00001084.
If this support fails, the price could drop further to $0.0000089, marking a potential 32% decline from current levels.
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
Binance CMO Rachel Conlan on Pushing Crypto into Mainstream
Rachel Conlan’s career journey has been anything but conventional. With over two decades of experience spanning marketing, media, and entertainment, Conlan now serves as the Chief Marketing Officer of Binance, one of the world’s leading cryptocurrency exchanges. Starting her career in the world of advertising, she honed her skills working with global Fortune 500 brands and guiding legacy companies through digital transformations.
In this interview, Conlan delves into her strategic approach to scaling Binance’s global marketing efforts, her insights on empowering women in crypto, and her mission to foster a more inclusive and decentralized financial ecosystem.
Can you share a bit about your background before joining Binance? How you made the switch to the crypto space?
Certainly! Before joining Binance, I spent over 20 years working across various industries, primarily focusing on marketing, media, and entertainment. My career began in advertising, which was an intense, fast-paced environment — perfect preparation for the crypto industry. From there, I worked with major global brands in the luxury and traditional banking sectors, helping them undergo digital transformations.
Eventually, I joined the Creative Artist Agency, one of the world’s largest sports and entertainment agencies, which is where I was first introduced to the world of crypto. Around five and a half years ago, during what felt like a gold rush in the crypto space, fintech and blockchain firms were looking for ways to establish cultural programs and reach new audiences.
I got the chance to work with founders of leading exchanges and platforms, which gave me a front-row seat to the evolution of this industry. It was fascinating to see how crypto was not only disrupting traditional finance but also redefining how we think about ownership and financial freedom.
That experience ignited my passion for this space because I genuinely believe in the transformative potential of blockchain technology. There’s a bigger mission at play here, one that’s about more than just financial transactions — it’s about democratizing access to financial tools and empowering individuals. I joined Binance two years ago, initially as the VP of Marketing, and after a year, I was honored to take on the role of Chief Marketing Officer.
How has your experience in “traditional” industries influenced your approach at Binance?
My background has been incredibly beneficial in shaping my approach to marketing in the Web3 space. One of the things that stood out to me when I joined Binance was how user-obsessed we are. In the world of traditional digital marketing, working with brands that had hundreds of millions of users taught me the importance of scalability and data-driven strategies. At Binance, we’re leveraging those lessons to optimize our user engagement.
For instance, we just crossed 238 million users globally, and my goal is to help us reach one billion users. Achieving that requires us to think differently about marketing. It’s not just about broadcasting a message but about building a genuine community. One of the key elements that sets crypto apart is its community-driven nature. At Binance, we rely heavily on insights from our users, leveraging data to inform everything from our product development to our marketing campaigns.
But it’s also about staying agile. Legacy brands often become bogged down by bureaucracy, which slows down innovation. In contrast, the crypto space moves at lightning speed. For example, if we notice something isn’t resonating with our users — like a trader competition that’s not performing as expected — we immediately dive into the data, adjust our strategy, and pivot, sometimes even on the same day. That agility is crucial because we’re constantly evolving, and we need to stay connected with our community to remain a leader in this industry.
What are some challenges you’ve observed for newcomers, especially women, entering the crypto industry?
The biggest challenge is often the culture shock. The crypto industry has its own unique set of terminologies and an incredibly fast-paced environment that can be intimidating for newcomers. I remember when I first started immersing myself in this space about six years ago, I found the vernacular overwhelming. But once you get past that initial learning curve, you realize that it’s not as complex as it seems. It’s just a matter of understanding the basics and then building on that foundation.
For women, the challenges are even more nuanced. Historically, industries like tech and finance have been male-dominated, and that extends to crypto as well. However, one of the things I love about this industry is that it’s starting to change. We’re seeing more women take on leadership roles, not just at Binance but across the board. At Binance, we are making conscious efforts to create an inclusive environment where diverse voices are valued.
One of the initiatives I’m particularly proud of is our focus on educating women in the crypto space. Last year, during Binance Blockchain Week, we launched a program in Istanbul aimed at educating women on how to responsibly engage with crypto. Our goal is to onboard 500 women by mid-2025, teaching them how to trade, invest, and take control of their financial future.
So far, we’ve reached the halfway mark, and it’s inspiring to see the impact, especially when I hear stories like that of a 65-year-old woman who turned a small investment into a significant return and then helped her friends get involved.
How do you personally stay balanced while leading such a high-pressure role?
It’s definitely a challenge, especially with the demands of a global role and a young family. I’ve learned the importance of prioritizing my well-being, even if it’s just a quick workout in the morning. It helps clear my mind and set a positive tone for the day. I’m also very intentional about how I spend my time. Delegation is key — I have an incredible team of 235 people who are much smarter than me in many areas, so I trust them to execute our vision.
Staying grounded and being able to recharge is crucial because this industry moves fast, and it can be easy to burn out if you’re not careful. I believe that taking care of myself ultimately makes me a better leader, allowing me to make clearer decisions and support my team more effectively.
Binance has been a key player in the crypto industry. How do you balance influencing both users and regulators?
It’s a delicate balance, but it’s one we take very seriously. As the largest crypto exchange, we have a responsibility to set the standard for the industry. Our approach is to engage proactively with regulators, even in regions where regulations are still evolving. Our compliance team is over a thousand strong, and we dedicate a significant amount of resources to ensure that we are not only compliant but also leading the conversation on best practices.
In markets where regulations aren’t yet defined, our team works directly with governments and regulatory bodies to help shape the frameworks. We believe that by taking a collaborative approach, we can help build a safer and more sustainable ecosystem. It’s not just about compliance for the sake of compliance — it’s about protecting our users and ensuring the long-term viability of the industry.
On the user side, we remain deeply committed to community engagement. We host over 1,500 events annually, including Binance Blockchain Week, where we bring together thought leaders, regulators, and users. These events are crucial for bridging the gap between regulators and the crypto community, allowing for open dialogue and collaboration.
Education seems to be a recurring theme in your strategy. Can you elaborate on your initiatives?
Education is at the heart of everything we do at Binance. To unlock the full potential of this industry, we need to focus on educating users at all levels. That’s why we invest heavily in platforms like Binance Academy, which has reached over 23 million readers. It’s designed to simplify complex topics and make them accessible to everyone, whether they’re complete beginners or seasoned traders.
In addition to our academy, we’re leveraging partnerships with influencers and Key Opinion Leaders to reach wider audiences. For instance, we collaborated with Pierre Gasly, Alpine F1 driver and an early adopter of crypto, to create content that demystifies crypto investments and addresses common misconceptions, such as the idea that crypto is a Ponzi scheme.
We also have an Angels program, where volunteers help onboard new users and answer their questions on platforms like Telegram and Discord. This grassroots approach has been incredibly effective in fostering a supportive community.
Finally, what advice would you give to women aspiring to leadership positions in the crypto space?
My advice is threefold. First, do your own research. The tools are out there, and a foundational understanding is crucial. Second, network relentlessly. Attend events, meet people, and don’t shy away from reaching out to others in the industry. The crypto community is very open, and people are usually happy to share their experiences.
Lastly, take the leap. Don’t wait for the perfect job or the perfect opportunity — it doesn’t exist. Be fearless, take that first step, and immerse yourself in the industry. Build your network, join associations, and keep pushing forward. The crypto world is built on community, and there’s always room for those willing to contribute.
Disclaimer
Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should 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
Will Bitcoin’s Price Rally Past $90K?
Leading cryptocurrency Bitcoin (BTC) has been on a relentless bull run, consistently breaking new all-time highs over the past week. As of this writing, the king coin exchanges hands at $85,662, recording a 5% increase in the last 24 hours.
As the market anticipates Bitcoin’s price rally toward the $90,000 mark, signs suggest this milestone might remain out of reach. This analysis delves into two critical factors that could slow down or even stall the cryptocurrency’s ascent toward this price target.
Bitcoin Sends Cautionary Signals
Bitcoin’s exploding open interest is a key factor that may prevent its ascent to the $90,000 price mark in the short term. Per CryptoQuant’s data, over the past week, the futures market has seen an addition of over $16 billion in open positions. This marks a significant increase in leverage. As of this writing, BTC’s open interest is at $25 billion, its highest since August 2022.
Open interest tracks the total number of outstanding contracts (options and futures) that have yet to be settled. During a price rally, a surging open interest is a bullish signal. However, when an asset’s price rises too quickly, a high open interest can signal potential instability.
Over the past week, Bitcoin’s price has rallied by 25%. The accompanying spike in open interest indicates that many investors have taken leveraged positions. This has created an environment vulnerable to liquidation cascades if prices start to drop.
If the coin’s price reverses, even slightly, these leveraged positions can trigger a chain reaction. When highly leveraged traders are forced to close out positions to avoid losses, the resulting sell orders can intensify downward pressure, causing the coin’s price to decline further and triggering additional liquidations.
Furthermore, BTC’s rising funding rate is another factor that may keep its price under $90,000 in the short term. It is currently at 0.015%, its highest value since the end of March when BTC suffered a more significant correction.
In futures trading, the funding rate is a periodic fee paid between traders holding long and short positions, incentivizing balance between the two. However, when the funding rate surges significantly, it typically signals that buying side of the market is heavily dominant. This is a bearish signal that usually precedes a price pullback.
BTC Price Prediction: Coin Is Overbought
When long positions become expensive to maintain, some traders may start to close their positions to avoid high funding costs, which can put downward pressure on the asset’s price. Additionally, if the asset’s price begins to decline, heavily leveraged long positions are at risk of liquidation, creating a cascade effect that can lead to a sharp drop in price.
Bitcoin’s overbought readings from its Relative Strength Index (RSI) confirm the bearish outlook above. As of this writing, the coin’s RSI is 74.83.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. On the other hand, values below 30 indicate that the asset in question is oversold and may be poised for a rebound.
At 74.83, BTC’s RSI indicates it is significantly overbought and may soon decline. If these factors hold true and Bitcoin experiences a temporary pullback, it may fall to $81,215. If this level fails to hold, the coin’s price may fall further to $74,340.
However, if buying pressure strengthens, the coin may reclaim its current all-time high of $89,972 and rally past it into the $90,000 price territory.
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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