Yescoin creators discuss token airdrop and aspirations to maximize crypto game’s full potential

The Block

As much as Yescoin’s millions of users probably want to see the crypto game's token airdrop as soon as possible, its creators say they are committed to a calm and calculated approach as they consider how best to keep gamers coming back for more.

"We are working diligently to meticulously plan each step of the token release to drive the long-term success and growth of the project," Yescoin’s anonymous creators recently told The Block. "Our core goal is to create long-term, sustainable value for the industry, including launching tokens that have more sustainable value for holders."

A Yescoin spokesperson said the game currently has over 30 million users, up from the 18 million the title had back in June. According to the game’s founders, strategizing how to incentivize users to stick around and keep engaging with their ecosystem after the Yescoin token generation event (TGE) is a challenge that has to be carefully considered before a date for the airdrop can be selected.

"Mechanisms that provide short-term dopamine can quickly attract users, [but] our goal is to ensure every new user experiences a long-term sense of fulfillment," the project’s leaders said. "We are working diligently to meticulously plan each step of the token release to drive the long-term success and growth of the project."

New wave of growth

In recent months, Telegram clicker games on the TON blockchain like Notcoin and Hamster Kombat had managed to accomplish something not seen since the play-to-earn era of 2021, when Axie Infinity grabbed headlines, in part, for attracting millions of users. But since that game fell from favor, the nascent web3 video gaming industry has largely struggled to gain significant traction despite the release of many new titles boasting complex gameplay and much-improved visual aesthetics.

While Hamster Kombat claims to have gathered more than 300 million users, Notcoin, which launched first, has already successfully completed a $1-billion token airdrop, seemingly demonstrating Telegram, tap-to-earn games could evolve into blockchain-based projects with substantial economic potential.

Telegram’s CEO, Pavel Durov, appears to concur. The executive recently claimed another clicker game called Catizen had generated $16 million in in-app revenue. Before that, Durov appeared to endorse Notcoin.

"The past three months have marked the fastest growth in new users in cryptocurrency history," said Yescoin's creators. "The next six months will be pivotal."

Isolating the bots

Although the simplicity of Yescoin's gaming mechanics is similar to Notcoin and Hamster Kombat, its creators stressed that their game is a "swipe-to-earn" title rather than the tap–to-earn model employed by its rivals. They said requiring players to swipe helps to deter the use of bots.

"From day one, we implemented a swipe-to-earn model that is different from the mainstream tap-to-earn approach, which has not only enhanced user participation but also effectively isolates bots," Yescoin’s creators said.

Both Hamster Kombat’s creators and TON blockchain’s gaming lead recently told The Block it's unclear how many bots make up the millions of users purportedly playing the new Telegram-based games. While bots can boost user numbers and games' social media followers, they both weaken the overall ecosystem and can spoil the potential for real players to properly benefit from an airdrop.

Besides mulling how to manage the TGE from their end, Yescoin’s creators said they are also in active discussions with top-tier exchanges regarding the game’s eventual token airdrop. In the meantime, Yescoin is currently running a promotion that involves doling out $1 million worth of USDT stablecoins to players in collaboration with exchanges such as Binance, OKX and Bitget, which help distribute the token rewards.

All over the world

The game’s creators also made a point to describe the diversity of Yescon's user base. They said the game has players in over 200 countries, with 10 of the top 20 countries where it is most popular being located in Western Europe and North America.

In the past, one criticism of play-to-earn blockchain games like Axie Infinity was that those games primarily attract users from poorer, underdeveloped nations who are seeking an alternative means to earn a living. A gaming ecosystem where gamers are mainly playing to make money is widely viewed by gaming developers, including Notcoin's founder, as unsustainable.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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Toncoin (TON) Shorts Stay Strong Despite Market’s Bullish Surge

Beincrypto

However, despite this, short traders have maintained their bets against the altcoin, indicated by a persistent demand for TON shorts.

Toncoin Short Traders Are Unrelenting

At press time, TON trades at $6.27. Over the past seven days, the altcoin’s value has climbed by almost 20%. However, many traders have continued to open positions against a continued rally in its futures market. This can be gleaned from the coin’s negative funding rate across cryptocurrency exchanges.

As of this writing, TON’s funding rate is -0.028%. Per Santiment, the coin’s funding rate has been predominantly negative since June 13.

The funding rate is a mechanism used by perpetual futures contracts to keep the contract price in line with the underlying asset price.

When an asset’s funding rate is negative, it indicates more traders are taking short positions. This means that more traders anticipate a decline in the asset’s price than those buying it and hoping to sell at a higher price.

When more traders are willing to pay to maintain short positions, it suggests that the prevailing market sentiment is bearish.A sustained negative funding rate, like in TON’s case, indicates that the majority of the market expects the asset’s price to continue falling. It suggests a significant bearish outlook among traders.

The decline in TON whale holdings reflects this bearish outlook. According to IntoTheBlock’s data, TON’s large holders’ netflow has plummeted by over 250% in the last month.

Large holders refer to addresses that hold over 0.1% of an asset’s circulating supply. When an asset’s large holder netflow declines, its whale addresses are selling their holdings. It is a bearish signal that may prompt retail traders to distribute their coins, putting more downward pressure on the asset.

TON Price Prediction: Bearish Cloud Rests Above Price

The short bets placed against TON’s price might yield positive results as the bearish outlook also persists in its spot market. At press time, TON’s price rests below its Ichimoku Cloud.

This indicator identifies an asset’s trend direction, gauges momentum, and defines support and resistance levels. The market is in a downtrend when the asset’s price lies below it.

This is because the cloud represents a key area of support and resistance, and being below it means that the price is trading below both the short-term and long-term averages.

If this bullish outlook persists, TON’s price may fall to $5.57, putting short traders in profit.

However, if TON sees a spike in demand, its price may rally to $6.51, liquidating some short positions.

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SEC charges NovaTech with allegedly operating a pyramid scheme that raised $650 million in crypto

The Block

A couple who founded company NovaTech Ltd., allegedly operated a pyramid scheme that raised more than $650 million in cryptocurrency, according to the U.S. Securities and Exchange Commission.

The regulator on Monday charged NovaTech founders Cynthia and Eddy Petion, their company and promoters Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano, and Marsha Hadley for their roles in promoting NovaTech to investors.

The scheme affected more than 200,000 investors globally, including many in the Haitian-American community, according to the SEC.

"Certain Defendants targeted affinity groups, in particular the Haitian-American community, and used religious overtones and appeals to financial freedom and independence to solicit investors," the SEC said in the complaint filed in the U.S. District for the Southern District of Florida.

The Petions "lured investors" by saying that NovaTech would invest their money in crypto and foreign exchange markets, when instead NovaTech used most of those investor funds to pay existing investors, pay commissions to the promoters, and also spent millions of dollars on themselves, the SEC said.

“NovaTech and the Petions caused untold losses to tens of thousands of victims around the world,” said Eric Werner, director of the SEC’s Fort Worth Regional Office in the statement. “As we allege, MLM schemes of this size require promoters to fuel them, and today’s action demonstrates that we will hold accountable not just the principal architects of these massive schemes, but also promoters who spread their fraud by unlawfully soliciting victims.”

The SEC charged NovaTech, the Petions, Zizi, Dunbar, Corbett and Sampson with violating antifraud provisions and all of the defendants with violating registration requirements.

Zizi agreed to partially settle without admitting or denying the allegations, according to the statement.

New York Attorney General Letitia James previously sued Cynthia Petion and her husband, Eddy Petion, along with others, with defrauding thousands of investors in June.

NovaTech collapsed in May 2023 and most investors were not able to withdraw their investments, the SEC said.

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Crypto Analyst Reveals Best Altcoins To Buy After This Crash

NewsBTC

In the wake of the market crash of recent weeks, crypto analyst Michaël van der Poppe has provided an analysis of the trajectory of Bitcoin and its impact on altcoins. His remarks centered around Bitcoin dominance and the readiness of the altcoin markets, especially in sectors like Artificial Intelligence (AI) and decentralized finance (DeFi), for a potential rebound and significant growth.

Van der Poppe started his analysis by discussing Bitcoin dominance, a metric that reflects Bitcoin’s market capitalization relative to the entire crypto market. The analyst noted that contrary to popular belief, the current state of Bitcoin dominance does not herald the beginning of a bear market.

“Bitcoin dominance is not at the start of a bear market but it is at the end of the bear market and potentially the start of a bull market,” he stated. This observation is critical as it suggests that Bitcoin’s market sway is stabilizing, potentially setting the stage for an altcoin rally and capital flows into low-cap cryptocurrencies.

Best Altcoins To Buy Now

Focusing on strategic investment opportunities post-crash, Van der Poppe underscored the importance of selecting altcoins based on sector strength and market recovery potential. He pointed out that AI and DeFi are two sectors where growth could be most explosive due to underlying technological advancements and increased use cases. Within these sectors, he identified specific tokens that exhibit characteristics of resilience and high growth potential.

#1 TAO

TAO, a token within the AI sector, is highlighted by van der Poppe for its robust performance in recent weeks, showing a remarkable 70% rebound from its lows. “TAO is a super strong asset within the AI sector and has shown a 70% bounce from its lows,” he noted.

This rebound is significant as it reflects growing investor interest and confidence in AI technologies within the blockchain space. Van der Poppe projected an optimistic future for TAO, suggesting, “This is one that could be doing another 5x to 10x from here,” based on its current trajectory and market interest.

#2 AAVE

Shifting his focus to the DeFi sector, Van der Poppe recommended AAVE, a token that has shown significant strength against Bitcoin and USDT. “AAVE is having a pretty standard or beautiful accumulation against Bitcoin; it’s making new highs against USDT and just consolidating before a big breakout.”

He emphasized the relative undervaluation of AAVE by comparing its total value locked (TVL) to its market cap. “If we look at TVL versus the market cap, then the market cap of a is $1.5 billion and the TVL is around $10.3 billion which means that that valuation is 0.5. For ONDO it’s 15. It’s 100 times bigger so 0.5 is heavily undervalued where the regular valuation should be around 0.5 to 1 which means that there’s a lot of momentum to be made in,” he explained.

#3 RENZO

In addition to AAVE, Van der Poppe brought attention to RENZO, another DeFi asset that, despite being in a downtrend, shows signs of reaching a lower valuation boundary that could attract speculative interest and potential upside. He described RENZO as a higher-risk investment compared to AAVE but noted that the asset’s significantly lower valuation in relation to its TVL could present a compelling buy opportunity for risk-tolerant investors.

“I want to show you RENZO which currently has a market cap of $50 million, fully diluted $440 million, but the TVL which we can see on DefiLama is $1.3 billion. So in that aspect that valuation is even lower than AAVE but there is also more risk implied by investing in such an asset,” the analyst said.

#4 AEVO

Finally, Van der Poppe turned his attention to decentralized exchanges, specifically AEVO. He described AEVO’s unique position in the market, offering sophisticated trading options such as prediction markets, options, and hedging. “AEVO is very likely making a bullish divergence and a falling wedge, and is likely going to reverse from here,” he assessed, indicating potential upcoming growth potential.

“These are my primary bets that I want to take going forward in this market and in the next few weeks,” van der Poppe concluded.

At press time, TAO traded at $294.22.

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Dogecoin Investors Are Doubling Down on Mpeppe: The Next Big ICO to Watch

NewsBTC

As the cryptocurrency market continues to evolve, investors are always on the lookout for the next big opportunity. Recently, a new trend has emerged among Dogecoin (DOGE) investors, who are increasingly turning their attention to Mpeppe (MPEPE), a promising new Initial Coin Offering (ICO) that is generating significant buzz. The Appeal of Dogecoin (DOGE)

Dogecoin (DOGE) has long been a favorite among meme coin enthusiasts. Originally created as a joke, Dogecoin’s lighthearted approach and strong community have propelled it into mainstream popularity. Thanks in large part to high-profile endorsements and its widespread adoption as a tipping currency on social media, DOGE has seen its value skyrocket over the years.

However, while Dogecoin (DOGE) continues to be a beloved asset in the crypto community, many investors are beginning to seek out new opportunities that offer the potential for even greater returns. This is where Mpeppe (MPEPE) comes into play. Mpeppe (MPEPE): The Next Big ICO

Mpeppe (MPEPE) is quickly becoming one of the most talked-about ICOs in the cryptocurrency world. Positioned as the next big thing in the meme coin market, Mpeppe (MPEPE) is attracting attention for its unique approach and the significant potential it offers to early investors.

Unlike many other meme coins that rely solely on their community for value, Mpeppe is designed with innovative features that make it stand out in a crowded market. For one, MPEPE incorporates advanced tokenomics that are aimed at ensuring long-term value retention and growth. Additionally, the Mpeppe platform offers a suite of tools and applications that provide real utility to its users, setting it apart from the typical meme coin fare. Why Dogecoin (DOGE) Investors Are Interested

The recent interest in Mpeppe (MPEPE) from Dogecoin (DOGE) investors is not surprising. Many DOGE holders are drawn to the familiar meme coin culture that Mpeppe represents, but they are also intrigued by the additional features and potential for higher returns that MPEPE offers.

Given the success many have had with Dogecoin (DOGE), it’s only natural for these investors to look for the next big opportunity within the same niche. The combination of Mpeppe’s innovative approach and its appeal to the meme coin community makes it a logical choice for those looking to diversify their portfolios and maximize their gains. The Potential for Growth

Mpeppe (MPEPE) is still in its early stages, but the momentum is already building. As more investors, particularly those from the Dogecoin (DOGE) community, begin to participate in the MPEPE presale, the potential for substantial returns becomes increasingly likely.

Market analysts are closely watching the development of Mpeppe, with some suggesting that it could be the next big breakout in the meme coin space. If the project continues to gain traction, early investors could see significant gains, much like those who got in on Dogecoin (DOGE) before it took off. Conclusion

For Dogecoin (DOGE) investors looking to replicate the success they’ve enjoyed with DOGE, Mpeppe (MPEPE) presents a compelling opportunity. With its unique features, innovative tokenomics, and growing interest from the crypto community, Mpeppe is quickly positioning itself as the next big ICO to watch. As always, investors should conduct their own research, but the early signs indicate that MPEPE could be a major player in the meme coin space in the near future.

https://mpeppe.io/

For more information on the Mpeppe (MPEPE) Presale:

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Join and become a community member:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

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New AI Predictions: Rival Memecoins Pepecoin and Mpeppe To Rally 240% in The Coming Months

NewsBTC

Memecoins have carved out their niche with surprising resilience and growth potential. According to recent AI predictions, two rival memecoins, Pepecoin (PEPE) and Mpeppe (MPEPE), are poised for substantial gains in the coming months. Both of these digital assets are projected to rally by an impressive 240%, sparking excitement among investors and enthusiasts alike. Here’s why these memecoins are capturing attention and how they might shape the future of the crypto market. Pepecoin (PEPE) and Mpeppe (MPEPE): A New Era for Memecoins

Pepecoin (PEPE), known for its roots in meme culture and community-driven growth, has long been a favorite among crypto enthusiasts. Mpeppe (MPEPE), the new entrant on the scene, is creating waves by building on the success of its predecessors while integrating innovative features. AI models are forecasting a significant rally for both Pepecoin (PEPE) and Mpeppe (MPEPE), highlighting their potential to deliver remarkable returns. Why Pepecoin (PEPE) and Mpeppe (MPEPE) Stand Out

Memecoins have demonstrated their ability to leverage viral internet culture and social media influence to drive adoption and value. Pepecoin (PEPE) has established a strong community and brand presence, while Mpeppe (MPEPE) is making strides with its unique blend of meme culture and blockchain technology. Both coins are expected to benefit from continued interest in the meme economy and the broader cryptocurrency market’s volatility. AI’s Forecast: 240% Rally for Pepecoin (PEPE) and Mpeppe (MPEPE)

Artificial intelligence models are predicting a substantial 240% increase in the value of Pepecoin (PEPE) and Mpeppe (MPEPE) over the next few months. This forecast is based on several factors, including the growing popularity of memecoins, the expanding user base, and the increasing integration of these coins into various digital platforms. AI algorithms consider historical data, market trends, and social media sentiment to arrive at these projections, giving investors a data-driven outlook on potential gains. Technological Innovations and Future Prospects

Both Pepecoin (PEPE) and Mpeppe (MPEPE) are incorporating technological innovations to enhance their value propositions. Pepecoin (PEPE) continues to evolve with new features and applications, while Mpeppe (MPEPE) is integrating advanced blockchain solutions to provide additional utility. These technological advancements are expected to contribute to their projected price increases. How to Position Yourself for the Expected Rally

For investors looking to capitalize on the predicted 240% rally, staying informed and strategic is key. Monitoring market trends, participating in community discussions, and understanding the unique aspects of Pepecoin (PEPE) and Mpeppe (MPEPE) will be crucial. Both memecoins offer unique opportunities for growth, and early involvement could yield significant returns. Conclusion: The Future of Pepecoin (PEPE) and Mpeppe (MPEPE)

As Pepecoin (PEPE) and Mpeppe (MPEPE) prepare for what is expected to be a dramatic price surge, the crypto community is abuzz with excitement. With AI predictions forecasting a 240% rally for these rival memecoins, investors are keenly watching their developments. Whether driven by community passion, technological innovation, or market dynamics, Pepecoin (PEPE) and Mpeppe (MPEPE) are set to make a significant impact in the cryptocurrency landscape.

https://mpeppe.io/

For more information on the Mpeppe (MPEPE) Presale:

Visit Mpeppe (MPEPE)

Join and become a community member:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

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Solana DEX trading volume falls as Ethereum and Base see increased activity

The Block

Solana-based decentralized exchange (DEX) trading volume over the past week has decreased by over 10%, according to DefiLlamma data.

In contrast to this decline, trading volumes on the Ethereum, Base, and Sui blockchains have increased by around 12%, 11%, and 77%, respectively, over the same period. In terms of network trading volume in U.S. dollars over the past week, Ethereum leads with $16.5 billion. Solana's DEX activity is in second place with just over $11 billion, while DEX trading volume on Base totaled $5.4 billion during the same period.

Ethereum still holds a large lead over Solana in terms of DEX total value locked (TVL), with a TVL of over $6.44 billion, versus Solana's $1.74 billion.

Solana-based institutional investor demand

Despite the downturn in trading volume on Solana-based DEXs, Zeta Markets Founder Tristan Frizza cited data that showed Solana is capturing almost 10% of the DEX market.

Frizza pointed to CoinShares data, which indicated institutional investors have been broadening their exposure from bitcoin and into altcoins, with Solana experiencing increased allocations. He added that as this institutional adoption grows, it could bring an influx of capital into the Solana ecosystem, driving both innovation and demand.

"However, the future pace of institutional DeFi adoption on Solana will depend on the overall economic conditions and regulatory developments," Frizza told The Block.

In the past 24 hours, the Solana price decreased by 1.6%, to change hands for around $146 as of the time of writing, according to The Block's Price Page.

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