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Animoca’s Yat Siu Talks Blockchain Gaming and Digital Identity

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Yat Siu, co-founder and executive chairman of Animoca Brands shared his unique perspective on the evolving landscape of Web3, drawing from his extensive experience in tech innovation and his multicultural background.

In a recent interview with BeInCrypto, Siu discussed Animoca’s Mocaverse, highlighted the stark contrast between Eastern and Western attitudes, and offered valuable advice for aspiring artists in the age of AI.

Why do you think the MOCA price rose significantly, compared to other gamefi tokens?

There is a whole series of tokens that haven’t done that well. But some have done well like Bitcoin, Ethereum, Solana, and TON, plus in our case, I would argue MOCA, too.

The key difference is the institutional support. Projects with institutional backing tend to perform more stable. Starting with the Bitcoin ETFs, I think we’re entering an institutional era of crypto, meaning that, to stand out, you now need institutional support.

How does the institutional support help the growth of projects?

The traditional stock market is by-majority institutional, but the token market is by-majority retail. In an institutional market, you diligently research to know what the project is about because you have large purchasing power and long-term planning.

Retails have a lot more short-term behavior naturally. For instance, Pump.fun launched two million tokens in the last 6 months. It is amazing as a business model, but also concerning.  Among the new tokens, many of them are very small, and may also be very speculative.

An institution will not invest in Pump.fun. They have discipline. In this age, projects that have institutional support and capability become much more relevant.

Animoca’s Yat Siu at Korea Blockchain Week. Source: Korea Blockchain Week
As an advisor to the Hong Kong Government’s Web3 Task Force, how do you interpret the recent atmosphere of the industry in China and Hong Kong?

Although President Xi Jinping put blockchain technology into his agenda, you can’t just assume by China saying “we’re supportive of blockchain”, that they will allow Bitcoin to be traded in China. You can’t even trade the US dollar in China, and what makes you think it should be okay to do crypto?

But there is a role for Hong Kong, which has been a financial clearing house for international capital in and out of the mainland. It makes sense that Hong Kong is becoming pro-Web3 and pro-Crypto because it is the sandbox for China.

If something happens, it can happen in Hong Kong and won’t affect China. Moreover, Chinese capital might flow out to other places, but it would rather be in Hong Kong, a free market under China’s influence than move to the US ally’s soil like Singapore.

You have a Chinese background, but you grew up in the West, in Austria. How do Web3 and GameFi differ between East and West?

Asia is more pro-capitalist and the West is split between capitalism and, especially in Europe, more socialism. In Asia, even in China, they are capitalists by nature, and it doesn’t matter if you are called the Communist Party. That is not true for Europe and many young Americans.

So if you’re a gamer in Asia, you make money with your assets and it’s okay because by nature you are comfortable with capitalism. But in Europe, people don’t necessarily agree with that. In America, the younger generation doesn’t necessarily believe in capitalism because it hasn’t worked for them.

There’s an ironically greater love of capitalism in Asia, which is why DeFi and GameFi are growing. I wouldn’t say everyone, but there’s a much louder voice of people in the West who don’t like it. If you talk to gamers in the West, they will say “I don’t want money to swallow my game”.

Between Game Boy (of Nintendo) and Game Science (of Black Myth: Wukong), which one would you choose?

I would go for the Game Boy. I’m very proud that Black Myth: Wukong can be a global hit coming out of China. It’s an interesting moment. However, Wukong would not have been possible to be popular if it wasn’t for the earlier kinds of Asian game companies and Asia-led culture booms leading the way.

In other words, the Chinese moment came thanks to Japan and Korea. Japanese anime paved the way for K-pop and K-drama, and K-culture did the same for China. Even if Wukong might become bigger, Gameboy should be respected.

You studied music in college in Vienna. As an artist, what advice do you have for aspiring artists in the age of AI?

Regardless of what you do, especially for those who want to do creative things, it is important to own your property. The most successful musicians like Michael Jackson had a growing asset base because they owned their intellectual properties.

On top of that, you need to understand money and business which we don’t teach in school. You can’t have independence if you outsource the value of the system.

If you have an idea, if you create music, if you’re a performer, the important thing is to make sure you own enough of your property to have the long tail benefit for your work. Maybe it would make no difference if you’re not very successful, but if you have something successful, you know what I mean.

How can blockchain benefit content creators?

The biggest theft in Web2 was those like YouTube, Instagram, and Tiktok. In the early days of YouTube, mukbangs, live-streamed videos where viewers watch the host eat, were very popular, but even when the creators became famous, the content was not theirs and they lost the IPs to YouTube.

The same is true for Instagram, and when people take a photo on Instagram, they spend a long time getting the angle. But they don’t get paid for the work or its IP. Even when you make a video that goes viral on TikTok, you get nothing.

In Web3 with blockchain, you own the property. If you mint it as an NFT, you have the history and the record. You will be able to defend theft from the blockchain. You can’t stop it, but you can trace and claim its ownership. That’s the point.

What major factors of the industry have drawn your and Animoca’s attention recently?

The crypto industry has grown over the last 12 months. We’ve had a lot more launches, a lot more projects, and a lot more people involved in the space.

In particular, we at Animoca are excited about TON and Mocaverse. The TON ecosystem brings many users into Web3 and our games like Gamee now have 90 million users. And for the Mocaverse, we think it’ll solve digital identity.

Often it is the same people who are essentially farming the tokens which is a problem.  You want to make it more distributed and you want to make it not go to bots but to individuals. You need an identity solution, and that’s what Animoca’s Mocaverse is doing.

Disclaimer

In compliance with the Trust Project guidelines, this opinion 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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ethereum whales get active as ETH retraces gains, buying the dip and this presale token under $0.08

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Large holders in the Ethereum (ETH) community, Whales, are silently acquiring ETH while it gives back its recent gains. Amid this, a fresh presale token valued at less than $0.08, Rexas Finance (RXS), is drawing interest from investors. Targeting the huge real-world asset market, Rexas Finance is creating waves with special characteristics.

Rexas Finance: Targeting the Real-World Asset Market

Rexas Finance is targeting a relatively untapped market in cryptocurrency: real-world asset (RWA) tokenization. Using the blockchain, this creative platform lets users invest in commodities, gold, and real estate, among other things. With just one click, investors can own a fraction of a high-value asset, such as a piece of real estate, anywhere in the world.

The Rexas Finance presale is gathering pace right now. Over 72 hours, it raised around $450,000 during its first stage. This success suggests growing investor faith in its goal. Now in its second phase, the presale has already gathered over $811,208 with the RXS token valued at $0.04, which many analysts are arguing could prove to be a steal.

Rexas Finance offers its customers several features. By locking down their RXS tokens, investors can generate passive income using staking and yield farming. The Launchpad on the platform provides funds for creative ideas, therefore enabling startups to gain traction. 

The Rexas QuickMint Bot also simplifies token creation by letting users mint fresh tokens straight via Discord and Telegram messaging systems. This opens token development to a larger audience, therefore promoting diversity in the crypto scene.

The Rexas ecosystem transcends tokenization. Its AI Shield guarantees better security for smart contracts, ensuring the dependability and safety of transactions. Using several blockchain networks, the platform also incorporates a Multi-Chain Yield Optimizer through Rexas Treasury, therefore maximizing profits for investors. 

Rexas Finance aims to close the gap between the blockchain world and tangible assets by using developing technologies such as blockchain, artificial intelligence, and DeFi. Given that a number of experts estimate a 7,800% increase in the next bull run, Rexas Finance could prove itself to be a good option for both novice and seasoned crypto investors.

Whales Are Accumulating ETH Amid Market Shifts

The largest holders of Ethereum, sometimes referred to as whales, have been progressively adding more ETH, particularly during dips. Data from on-chain monitoring firm IntoTheBlock indicates that these whales currently hold around 43% of Ethereum’s active supply. Their accumulation has been continuous since 2019; it quickened in early 2023, particularly following Ethereum’s Shanghai upgrade, which allowed the staked Ether to be withdrawn.

The current whale activity points to calculated market movement. Whales are buying the dip as Ethereum pulls back some of its past increases this year. With a 1.4% rise against Bitcoin’s 33.6% rise in 2024, Ethereum has notably lagged behind. Still, the steady whale accumulation points to long-term Ethereum potential optimism.

Cryptocurrency analyst Benjamin Cowen noted that Ethereum’s monthly candles have been reflecting its 2016 performance. Should this trend persist, Ethereum may climb by 2025. Still, it’s important to keep in mind that the crypto market is volatile, and past performance might not ensure present outcomes.

The RXS Token Presale 

Rexas Finance’s token distribution is meant to help the community and propel the expansion of the ecology. There are one billion RXS coins. 42.5% of these tokens are made available in the presale, giving early adopters lots of possibilities. Staking rewards, liquidity, marketing, and team incentives account for the rest, thereby maintaining a sustainable and balanced environment.

How to Participate in the Rexas Finance Presale

  1. Go to the official Rexas Finance website to get comprehensive knowledge regarding the presale and token.
  2. Click the “Join Presale” or comparable button to link your crypto wallet—such as MetaMask or Trust Wallet—to the platform.
  3. Choose the investment amount you wish to make. In Stage 2, the price of each RXS token is $0.04.
  4. Check the specifics and verify the transaction in your wallet. Then, make sure you have enough ETH or another supported Bitcoin for the gas expenses.
  5. Your RXS Tokens will be delivered to your wallet once the transaction is verified.

Participating in the Rexas Finance presale helps you join a creative platform with great future expansion potential. Are you all set to engage in the Rexas Finance ecosystem?

Conclusion 

As the market fluctuates, Ethereum whales are deliberately gathering to show their belief in ETH’s long-term viability. Rexas Finance, meanwhile, gains momentum in its presale phases by providing a unique investment opportunity through real-world asset tokenization. Joining early offers investors the opportunity to access the current low prices, and holds out the possibility of huge returns for early investors after the RXS token is launched.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance



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Can Binance Coin (BNB) Price Break $600

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Binance Coin (BNB) holders have waited several months for the altcoin to reclaim the $600 price mark. The increased demand it currently enjoys suggests that this milestone could be achieved sooner rather than later.

However, sentiment among its futures traders has turned bearish as they begin to bet against a sustained price rally. 

Binance Coin Sees Higher Demand for Short Positions

Binance Coin’s price has risen by 3% in the past 24 hours, reflecting the broader market upswing following the US Federal Reserve’s first interest rate cut since March 2020.

Demand for BNB has surged since the beginning of the month, with its price now at $557.11, marking a 14% increase over the last 13 days. However, futures traders remain skeptical about the rally’s longevity, as many continue to favor short positions.

According to Santiment, BNB’s funding rate — used to keep futures contracts aligned with the spot price — has been negative for the past three days, currently sitting at -0.001%.

Read more: How To Trade Crypto on Binance Futures: Everything You Need To Know

bnb funding rate
BNB Funding Rate. Source: Santiment

A negative funding rate indicates short-term pessimism, with more traders betting on a price decline than on a rally. However, BNB’s price has risen in the face of these bearish bets, leading to the liquidation of many short positions.

Short liquidations occur when traders betting on a price drop are forced to buy back the asset at a higher price to cover their losses, as the price moves against their expectations. When BNB’s price surged beyond a certain level, traders with short positions were compelled to exit to minimize losses.

Since September 16, BNB short liquidations have totaled $1.3 million, according to Coinglass.

bnb total liquidations
BNB Total Liquidations. Source: Coinglass

BNB Price Prediction: Altcoin Is Poised for More

BNB’s moving average convergence/divergence (MACD) indicator suggests the potential for continued upward momentum. The MACD line (blue) currently sits above both the signal line (orange) and the zero line, indicating strong bullish sentiment and the likelihood of a sustained uptrend.

If buying pressure continues, BNB could rally toward the $592.30 resistance level. A break above this level would set the coin on track to target $637.80.

Read more: Binance Coin (BNB) Price Prediction 2024/2025/2030

bnb price prediction
BNB Price Analysis. Source: TradingView

However, if profit-taking begins, the bullish outlook could be reversed, with BNB’s price possibly dropping to find support at $466.60

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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This Is How Whale Activity Can Cause XRP to Rally 30%

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XRP price has been trading within an ascending triangle pattern, a technical setup that suggests a significant breakout is on the horizon. This pattern could send the altcoin’s price up by as much as 28.9%. 

Key market players, known as whales, have been fueling this potential surge by accumulating large amounts of XRP, signaling confidence in an upward price movement.

XRP Whales Contribute Considerably

Whale activity has surged in recent days, with large holders significantly increasing their positions. Specifically, addresses holding between 10 million and 100 million XRP tokens have collectively purchased 200 million XRP, valued at over $116 million. This accumulation points to a rising belief in the asset’s bullish potential.

The increased whale activity is an indicator of market confidence, as such holders typically buy when they anticipate a price rally. Their recent purchases suggest that the coming weeks could see XRP break out of its current pattern, giving momentum to the cryptocurrency and offering investors notable gains.

Read more: XRP ETF Explained: What It Is and How It Works

XRP Whale Holdings.
XRP Whale Holdings. Source: Santiment

Analyzing XRP’s macro momentum, the MVRV (Market Value to Realized Value) Long/Short Difference reveals an interesting shift. This metric helps gauge investor profit-taking conditions.

Negative values often mean that short-term holders are profiting, while positive values indicate long-term investors are in the green. The latter is the case with XRP.

However, at present, the profits for long-term holders are not substantial. As a result, these investors are unlikely to sell soon, waiting instead for larger returns. This holding pattern supports the potential for a bullish breakout in the near future.

XRP Long/Short Difference.
XRP Long/Short Difference. Source: Santiment

XRP Price Prediction: Profits Ahead

XRP is moving within an ascending triangle, a bullish formation that forecasts a 28.9% rise upon a successful breakout. If this occurs, XRP’s price could surge to $0.76, offering strong returns for investors.

For the breakout to materialize, XRP must first surpass the resistance at $0.64 and establish it as a new support level. While whale activity suggests this is achievable, maintaining momentum above this threshold remains a challenge.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

XRP Price Analysis.
XRP Price Analysis. Source: TradingView

Should XRP fail to breach the $0.64 barrier, it may continue consolidating between $0.56 and $0.64, delaying a price rally and dampening investor expectations.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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