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
ADA Sights More Growth After Breaking $0.8119
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Market
PNUT Price Nears Oversold Zone After 20% 24-Hour Decline
PNUT price has dropped more than 20% in the last 24 hours, following its recent surge after being listed on major exchanges, where it reached $2.28. This sharp decline highlights weakening momentum, as indicators like ADX and RSI suggest that the uptrend is fading.
Despite this, PNUT still has the potential for a strong recovery if buyers return. However, if bearish pressure continues, PNUT could face a significant correction, testing key support levels and potentially losing more ground.
PNUT Current Uptrend Is Fading Away
PNUT currently has an ADX of 18.76, significantly down from above 50 just a few days ago. This consistent decline in ADX indicates that the strength of PNUT’s uptrend has been steadily weakening.
Despite still being in an uptrend, the sharp drop in price over the last 24 hours highlights the growing vulnerability of maintaining upward momentum. The ADX suggests a potential reversal could be on the horizon.
The ADX measures the strength of a trend, with values above 25 indicating a strong trend and below 20 indicating a weak or nonexistent trend.
PNUT’s ADX dropping below 20 reflects a weakening trend, even though the current directional movement still leans bullish. If this trend strength continues to deteriorate, PNUT may struggle to sustain its uptrend. That would leave PNUT price vulnerable to a more significant reversal in the near term.
PNUT Is Almost Reaching The Oversold Zone
PNUT currently has an RSI of 32.6, marking its lowest level since being listed on Binance.
The Relative Strength Index (RSI) measures the speed and magnitude of price movements, with values above 70 indicating overbought conditions and below 30 signaling oversold levels.
The consistent decline in PNUT’s RSI over the past few days highlights weakening momentum, with the asset now approaching oversold levels.
If the RSI falls below 30, it could signal that PNUT is significantly undervalued in the short term. However, continued bearish sentiment could keep the price under pressure, delaying any recovery.
PNUT Price Prediction: A 72% Correction Ahead?
If PNUT price experiences a reversal and a strong downtrend emerges, it could test the support at $0.749. Should this level fail to hold, the price may drop further to $0.41 and even $0.32, marking a significant potential correction of up to 72%. This would make PNUT be surpassed by other meme coins such as MOG, GOAT, and MEW in terms of market cap.
Such a scenario would indicate increased bearish pressure, with traders potentially continuing to exit positions after the surges following the listing on major exchanges.
On the other hand, if PNUT uptrend regains strength, the price could rise to test the resistances at $1.87 and $2.21.
Breaking through these levels could allow PNUT to retest its previous all-time high of $2.50. That would offer a potential 111% upside and establish PNUT as a top 10 meme coin 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.
Market
How PNUT, GOAT, BONK Fared
In this weekly analysis of meme coins, BeInCrypto observed that these tokens experienced mixed results. While some tokens saw gains, others grappled with significant losses.
Peanut the Squirrel (PNUT) and AI-created Goatseus Maximus (GOAT) were among the week’s underperformers, both experiencing significant price drops. In contrast, Bonk (BONK) defied market trends, securing its place as one of the top-performing cryptocurrencies. Here’s a detailed recap of the week’s developments.
Peanut the Squirrel (PNUT)
At the beginning of the week, PNUT’s price was $1.94. However, the meme coin’s value has since decreased by 33%. This significant decline could be attributed to selling pressure from those who held the token until it reached an all-time high.
PNUT’s price is currently $1.17. However, the one-hour chart shows that the Relative Strength Index (RSI) has dropped to 31.66. When the RSI climbs to 70.00, it means that the asset is overbought.
On the other hand, if it is below 30.00, it means that it is oversold. Therefore, while the RSI reading indicates bearish momentum, it indicates that PNUT is oversold.
As such, the meme coin’s price could be in line for a rebound. If validated, then PNUT’s price could bounce toward $1.40. In a highly bullish scenario, the meme coin could rally toward $1.72. However, if selling pressure increases again, the price could decrease below $1.15 when we publish the next meme coins weekly update.
Goatseus Maximus (GOAT)
Similar to PNUT, GOAT, another meme coin, faced a sharp decline this week, with its price dropping by 22%.
The price of GOAT has fallen to $0.87, possibly due to waning interest in AI-themed meme coins. The shifting narrative in the meme coin market suggests that some traders may be moving on from the AI buzz, seeking opportunities elsewhere.
Adding to the bearish sentiment, GOAT’s 4-hour chart has revealed a head and shoulders pattern, a classic bullish-to-bearish reversal indicator. This formation suggests that the meme coin could face further downside.
If the pattern plays out, coupled with the negative Moving Average Convergence Divergence (MACD), GOAT’s price could decrease to $0.66. However, a surge in buying pressure could invalidate this bias. If that happens, the value could jump to $1.37.
Bonk (BONK)
Contrary to GOAT and PNUT’s performance, Bonk’s price experienced a 28% hike. This price increase happened because the project disclosed that it would burn 1 trillion tokens by December 25 at the latest.
As a result, this disclosure sent euphoria around the Solana meme coin’s community, driving demand and a higher value for the token. However, BONK faces resistance at $0.000050, which has made it challenging for the cryptocurrency to rise much higher.
Despite that, the Bull Bear Power (BBP) shows that bears do not still have control. If sustained, then BONK’s price could move toward $0.000060.
On the flip side, if bears outpace bulls’ dominance, that might not happen, as the next meme coins weekly analysis could see it decline to $0.000043.
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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