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
Notcoin Price’s 25% Rally Is Early Christmas for NOT Traders
Notcoin (NOT) has been in a persistent downtrend since June, facing significant price declines. However, recent developments suggest a potential turning point for this Telegram-based cryptocurrency.
A notable 25% rally has sparked optimism, providing NOT traders with a much-needed boost. This upward momentum could signal a shift as positive sentiment grows within the Notcoin community.
Notcoin Has Considerable Support
Over the past month, Notcoin’s funding rate has remained consistently positive, reflecting a generally optimistic outlook among traders. Despite NOT’s declining price in October, traders held firm, maintaining their positions as funding rates indicated a strong conviction. This resilience in the face of price declines suggests that Notcoin enthusiasts are confident about a potential recovery, indicating stable long-term support from the community.
Such sustained optimism is a promising sign for NOT’s future. The positive funding rate, coupled with recent price action, suggests that investors believe in Notcoin’s potential for a turnaround. If this sentiment continues, it could provide the stability necessary for NOT to build on its recent gains and overcome resistance levels.
Notcoin’s macro momentum is beginning to show strength, supported by technical indicators such as the Relative Strength Index (RSI). The RSI is currently gaining bullish momentum, suggesting that buying interest is on the rise. However, to sustain this growth, NOT needs to turn the neutral line at 50.0 on the RSI into a support level.
Achieving this support on the RSI would signal sustained bullish strength, encouraging additional investor interest. For NOT to maintain its recent rally, this level of momentum must be sustained. Without a firm foundation, Notcoin may struggle to hold on to its current gains, emphasizing the importance of consistent growth indicators.
NOT Price Prediction: Recovering Losses
Notcoin’s price surged by 25% during today’s intra-day high, rebounding from the recent support level of $0.0057. This uptick reflects growing buying pressure, and the altcoin is now looking to continue this momentum with hopes of reaching higher targets.
The broader market’s bullish sentiment could aid Notcoin’s progress, provided investors resist the urge to book profits too soon. If successful, NOT’s target is to flip the resistance at $0.0094 into a support level, solidifying its position and potentially enabling further gains.
However, Notcoin has previously struggled to close above the $0.0083 resistance level. Another failed breach at this price point could prompt a pullback toward $0.0070. A drop below this level would invalidate the current bullish outlook, potentially pushing NOT back to its recent support of $0.0057, which would signal a return to the downtrend.
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
FTX Files Over 20 new Lawsuits as Part of asset Recovery Efforts
On November 8, the administrator overseeing FTX’s bankruptcy filed more than 20 new lawsuits, ramping up legal actions against several entities.
These lawsuits indicate a concerted effort by FTX to recover assets from multiple companies and individuals. Since November 2022, the FTX Debtors have filed 51 adversary actions, with 30 of them occurring in recent weeks.
FTX Targets $1 Billion in Losses With New Lawsuits
According to documents from the FTX bankruptcy docket, most of the latest filings address various claims, including political contributions, the defunct exchange philanthropic efforts, investments, and allegations of market fraud and manipulation.
“FTX is going after dozens of left leaning groups for all the donations that were made fraudulently with customer money,” an FTX creditor stated.
Thomas Braziel, founder of 117 Partners, stated that FTX might reclaim some donations under US bankruptcy law. He noted that funds can be recovered if they were donated with fraudulent intent or lacked equivalent value. Also, donations made while the donor was insolvent are particularly at risk of being clawed back.
“Not all donations are immune. Bankruptcy trustees will look closely at the debtor’s intent, timing, and financial condition when deciding if a charitable transfer can be clawed back,” Braziel said.
In addition to the non-profits, the failed exchange legal team is pursuing other prominent figures and entities. The estate has filed a lawsuit against former White House Communications Director Anthony Scaramucci and his company, seeking damages of more than $100 million. Another suit targets the team behind Storybook Brawl, a video game that FTX co-founder Sam Bankman-Fried invested in and promoted.
FTX also filed a significant clawback lawsuit against Nawaaz Mohammad Meerun, known as “Humpy the Whale,” who allegedly caused over $1 billion in losses through market manipulation. Earlier this year, Humpy led a governance attack on the DeFi protocol Compound Finance, causing significant losses for the platform.
“Meerun also repeatedly violated FTX’s rules, forcing Alameda to take over Meerun’s risky positions and suffer hundreds of millions of dollars in additional losses. All told, FTX and Alameda suffered approximately $1 billion in losses due to Meerun’s crimes, and Meerun has used the proceeds of his exploits to fund a wide range of other criminal activity,” FTX alleged.
These legal actions reflect FTX’s increasing efforts to recover assets from numerous individuals and companies. Over the past week, the exchange has filed legal actions against major centralized exchanges like Crypto.com and KuCoin over funds belonging to the platform.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Analyst Says Altcoin Season Will Begin Due to This Reason
Altcoins have recently surged alongside Bitcoin, which reached a new all-time high this week. Despite Bitcoin’s record-breaking price, the cryptocurrency leader is beginning to lose market dominance.
This shift has raised interest in an upcoming Altcoin Season, also known as AltSeason, as altcoins gain traction among investors.
AltSeason Is Not Far Away
Crypto analyst MikyBull Crypto highlighted that Bitcoin’s dominance is nearing a bearish MACD crossover. Historically, this has often been seen as a key indicator of an impending Altcoin Season.
According to the analyst, the post-election atmosphere is driving this shift, as it historically acts as a catalyst for altcoin rallies. This potential shift in market conditions could lead to a phase where altcoins outperform Bitcoin in terms of growth.
Similarly, analyst IncomeSharks suggested that Bitcoin’s dominance signals a momentum transfer to altcoins. IncomeSharks recommends that investors “buy and hold” altcoins through November, anticipating continued gains as the month progresses.
This analysis aligns with the view that Altcoin Season may begin by month’s end as investors look to diversify away from Bitcoin. Thus as for investors looking to make the best of altcoins might have to hold their horses until the arrival of a confirmation.
Arrival of the Altcoin Season
The Altcoin Season Index currently reflects that while Bitcoin’s dominance is slipping, it has not fully dissipated. For AltSeason to officially begin, 75% of the top 50 altcoins would need to outperform Bitcoin. This benchmark requires 33 of these altcoins to show stronger growth than BTC, confirming the arrival of this season.
Currently, only 19 altcoins are surpassing Bitcoin in gains, indicating that AltSeason has not yet fully materialized. If this figure rises, it would signal a definitive shift. However, for now, Bitcoin’s influence still holds, delaying the start of a strong altcoin rally.
If institutional interest in Bitcoin intensifies, BTC’s dominance could strengthen, potentially postponing the Altcoin Season until 2025. An increase in BTC-focused investments may extend Bitcoin’s lead, keeping altcoin growth in check until broader conditions favor alternative assets.
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.
-
Market20 hours ago
China Sentences Official for Espionage Fueled by Crypto Debt
-
Altcoin20 hours ago
Shiba Inu Burn Rate Surges 1300%, Will This Trigger a SHIB Price Rally?
-
Ethereum14 hours ago
Ethereum Funding Rates Hit Key Bullish Level, Price Surge Ahead?
-
Altcoin22 hours ago
Ethereum Price To Hit $10K As BTC Eyes $200K Rally: Standard Chartered
-
Market14 hours ago
Trump’s Bullish Election, XRP ETFs, and More
-
Market21 hours ago
Top AI Coins of the Week
-
Altcoin13 hours ago
Notcoin’s Breakout Sparks Bullish Sentiment, NOT Price To Rally 70%?
-
Altcoin21 hours ago
Ripple CEO Garlinghouse’s Big Take On SEC Lawsuit, XRP ETF, & Trump’s Checklist