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New iGaming / DeFi platform BUSTA built on Binance Smart Chain (BSC) now live

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New iGaming / DeFi platform BUSTA built on Binance Smart Chain (BSC) now live

BUSTA, an iGaming / DeFi platform on Binance Smart Chain (BSC), today announced its official launch. Players can “be the house” by staking and holding $BUST and earn rewards as people play and trade.

The BUSTA platform includes a decentralized exchange (DEX), staking pools, and partner programs. Further, the ecosystem is governed by a decentralized autonomous organization (DAO).

Ecosystem Launch

The founders of BUSTA aimed to create a circular business model that benefits players, investors, stakers, traders, affiliates, and partners. The ecosystem is designed so that each component benefits the other; and as each one increases in popularity and volume, the whole ecosystem and community reaps rewards.

Now available in Beta is the platform’s flagship game – BUSTaCRASH; a progressive jackpot game similar to the grandfather of crypto crash games – Bustabit.

Users can place their bets with BNB (or partner tokens in the future), watch the multiplier curve increase exponentially, and then click the stop button to claim their winnings before the game ultimately “crashes.” Thus, the longer the round, the more can be won…but if the game crashes before exiting, the bet is lost.

Platers can use MetaMask to connect to the BUSTA gaming DApp.

Five primary components of BUSTA include:

  1. iGaming Platform: Features multiple games like BUSTA CRASH, a progressive jackpot game.
  2. Trading and Staking Module: BUSTA contains its own niche DEX and yield farm for trading and staking $BUST as well as partner tokens.
  3. Affiliate Program: The program has a novel approach to growing the user base via referral links, where both parties benefit from a constant stream of passive income from play, trade, and farm activity.
  4. Partnership Portal: Partners can list tokens on the BUSTA platform for constant burn pressure for the partner’s native token, which is provided by automated revenue collection and distribution flow.
  5. Decentralized Autonomous Organization (DAO): BUSTA’s DAO allows the community to control the majority of the ecosystem in a voting process.

“We are taking iGaming and DeFi to the next level; as there’s just so much untapped potential with the technology available that people aren’t utilizing yet. We’ve taken advantage of that and intricately designed our ecosystem in a way that makes our games fun and rewarding to play, incentivizes holding and staking our $BUST token, and allows our community to grow exponentially.”

– Neil Apestrong, Project Lead at BUSTA

Games

The ‘GameFi’ platform will soon be releasing new games by core team members. The BUSTA team is also exploring acquiring whole game companies and making deals to integrate third-party games into BUSTA. This allows the platform to expand both horizontally and vertically and expand to multiple chains.

BUSTA games will be provably fair and generate a small amount of revenue for the ecosystem in the form of the house edge. The house edge will then be distributed throughout the ecosystem via smart contracts to the benefit of the community and $BUST token holders.

Bankroll and IDO

All of the games will draw their winnings from the BUSTA Bankroll. Initially, this Bankroll pool will be funded from a token presale. It will then be perpetually topped up with a percentage of the house edge; also by users staking BNB into the bankroll pool for yield rewards in the form of BNB and BUST tokens.

The launch of BUSTA’s iGaming platform will be followed by the $BUST initial DEX offering (IDO) on August 24th. BUSTA will host two IDOs simultaneously. The IDOs will run on Starter, a decentralized fundraising platform for the Binance Smart Chain; plus CyberFi Samurai, a DeFi funding platform.

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Bitcoin (BTC) Drops Below $60,000 But Correction Could Be Short-Lived

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Bitcoin (BTC) Drops Below $60,000 But Correction Could Be Short-Lived

Bitcoin (BTC) is likely in the middle of a short-term correction that has taken it below $60,000. Following this correction, a rebound in price is likely. 

BTC decreased considerably on Oct 26 and created a bearish engulfing candlestick.  This is a type of bearish candlestick in which the entire upward movement from the previous day is negated with an equal or larger drop the next day.

The main support area is found between $52,400 and $53,350. This range is made up of a short (white) and a long-term (black) Fib retracement level and a horizontal support area. There is also a minor support level at $56,550, created by only the short-term Fib level. 

Technical indicators support the continuation of the decrease.

The MACD, which is created by short and long-term moving averages (MA) is falling. Currently, the MACD is still positive, indicating that the short-term trend is moving faster than the long-term trend. However, it’s decreasing, signaling that the MA is decelerating.

The RSI, which is a momentum indicator is also decreasing. It’s above 50, signaling that momentum is still bullish, but the decreasing RSI indicates that momentum is also losing strength.

BTC gets rejected

The six-hour chart shows that BTC is moving underneath a descending resistance line since the Oct 20 all-time high price. 

More recently, the line rejected the price on Oct 25 (red icon), initiating the current downward move. The rejection also coincided with the $63,650 resistance area.

As long as the descending line remains unbroken, the short-term trend is considered bearish.

Wave count

The short-term wave count shows that BTC is likely in an A-B-C correction, which is potentially contained inside a parallel channel. For a long-term wave count analysis, click here.

Currently, BTC is in the C wave, which is the final portion of the correction and after which a rebound in price is likely.

There is considerable support near $56,500 and a drop to those levels would give waves A:C an exact 1:1 ratio. Furthermore, it would coincide with the support line of the channel. In addition to this, the area coincides with the short-term Fib support outlined in the first section. 

For BeInCrypto’s previous Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin drops $1K in five minutes in fresh dip below $60K

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Bitcoin drops $1K in five minutes in fresh dip below $60K

Ethereum slips below $4,000 as an anticipated correction suddenly takes hold of crypto markets.

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Bitcoin drops K in five minutes in fresh dip below K

Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin bites into major buy wal

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15.

The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base.

Analysts, as Cointelegraph reported, were already prepared, with some data suggesting a deeper dive to a low as $50,000 would still preserve the overall bull trend.

#Bitcoin couldn’t break through $63.6K and tests the other side of the range.

Might be dropping another time if $61.6K can’t break and then I’m looking at $58K next. pic.twitter.com/HIsvhE5ZlZ

— Michaël van de Poppe (@CryptoMichNL) October 27, 2021

Commenting on the situation meanwhile, Charles Edwards, CEO of investment firm Capriole, blamed leveraged traders for sparking the volatility.

“Basically Bitcoin looks incredible here on most metrics, but leverage traders have gone out of control,” he argued.

“We won’t get sustainable price rises until that changes.”

Data showed $500 million being liquidated in a single hour across cryptocurrency.

Altcoins lose big on trend reversal

Ether (ETH) led a bleed from altcoins Wednesday, falling below its hard-won $4,000 support line.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

Related: Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target

Several of the top ten cryptocurrencies by market cap saw daily losses of over 15%, including Dogecoin (DOGE) and Solana (SOL).

Shiba Inu (SHIB) was still largely in the green, up 23% on the day despite the market turnaround and continuing a wild month.

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Redditors cheer as GameStop assembles team of NFT experts

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Redditors cheer as GameStop assembles team of NFT experts

“Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” Gamestop’s Head of Web3 Gaming job listing reads.

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Redditors cheer as GameStop assembles team of NFT experts

GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform.

The firm’s GME stock is a cult favorite amongst retail traders as a result of the r/wallstreetbets and Robinhood saga earlier this year. On Reddit the r/Superstonk community boasts 659,000 members, and is dedicated to hosting business and stock discussions related to GME.

A post about GameStop’s job listings yesterday has received more than 10,000 upvotes at the time of writing, with many members posting bullish sentiments over GameStop’s latest move.

GameStop quietly unveiled a bare-bones website for its NFT marketplace in May. The site currently features a Nintendo Gameboy-style gaming console with an Ethereum logo, along with a message calling out for recruits to work on the platform.

Since then the firm has held its cards close to its chest, however on Oct. 25 it listed a total of eight jobs for crypto-friendly candidates, including three roles for NFT experienced software engineers, three jobs for product marketers and with two roles focused on Web3 based gaming.

One of the listings for the Head of Web3 Gaming job says that GameStop is looking for someone with experience with “Ethereum, NFTs and blockchain-based gaming platforms.” The firm has also hinted that there are some plans related to the Metaverse in the works.

“GameStop is looking for a unique individual who can help accelerate the future of gaming and commerce. In this future, games are the places to go, and play is driven by the things you bring. Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” the job listing reads.

Web3, billions in revenue, NFTs, Ethereum Layer 2. probably nothing. $GME pic.twitter.com/s3PiaqtWQl

— Chris SilvΞstro (@vestro) October 26, 2021

Related: Reddit may be preparing to launch its own NFT platform

Members of the r/Superstonk community were singing the firm’s praises yesterday, with “Triaspia2” calling it one of the “best job listings” they had seen, while pledging to buy more GME as it was a “bullish signal.”

Redditor “Donnybiceps” was equally bullish, noting that:

“NFTs are the future and people who haven’t gotten on board the GME train while knowing all these clues then you should be blaming yourself for not thinking this through.”

GME has had a volatile performance in October, going as low as $166 before bouncing to around $187 and subsequently crashing down again. However, according to data from Tradingview, the price of GME has still gained 2.8% this month to sit at $178 at the time of writing. The year-to-date gain for GME is a whopping 844%.

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