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Axie Infinity, the Ethereum-based video game, continues to amaze its fandom over the last year. Despite some hiccups, the play-to-earn game is relentless. In fact, it just made quite a bit of a noise this week after the Sky Mavis project snagged nearly $4 billion in all-time NFT revenues. The in-game currency of the P2E…

The post Axie Infinity Sets Record-Breaking $4 Billion In NFT Sales appeared first on Bitcoin News Miner.

GameFi is a fun and delicate balance between NFTs, DeFi, and gaming– here's how crypto games work and why you should pay attention.

The post What is GameFi? A Guide to Crypto Games & Play-to-Earn appeared first on CoinCentral.

Shiba Inu has again proved to be the most loved meme-coin by the top Etherium (ETH) Whales. As per WhaleStats, the total value of SHIBs held by the biggest ETH wallets has surpassed $2 Billion. Meanwhile, it has also managed to get back into the top 10 tokens purchased in the last 24 hours by

The post Shiba Inu Update: Top ETH Wallets Hold Over $2B Worth Of SHIB Tokens Now appeared first on CoinGape.

An expert has claimed that crypto is trading like risk assets and looking like growth equities, and as the traditional market is likely to continue to see high volatility over the next months, the institutional adoption of crypto is slowing down until global equity markets find stability. Crypto Institutional Adoption The institutional adoption of digital assets is believed to be key to the future maturity and consolidation of the cryptocurrency market. The landscape of cryptocurrencies will likely keep on changing as a response to the ways worldwide regulations, macro environment, and mass adoption develops in the following years. Although many important corporations have started to gradually approach digital coins like bitcoin, there might be still a long way to go for institutional money to massively enter the market. Recently,  Bloomberg reported a JPMorgan strategists’ note in which they claim that “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption.” Similarly, Alex Kuptsikevich, a senior financial analyst at FxPro, explained to Forbes that Bitcoin’s price “is determined not so much by volatility as by crowd interest. Without investor interest, it quickly goes sour, and with it, it picks up just as fast. In bitcoin’s favor is the reduced supply growth rate and its finiteness.” “We should also note that the entry of institutional investors, the increasing acceptance of bitcoin as an asset for portfolio diversification, and the increased trading turnover in cryptocurrencies make the price less volatile over time.” Related Reading | Goldman Sachs: Mainstream Adoption Won’t Boost Bitcoin Price Why Growth Stocks Can Drive Investors In In a Bloomberg Television interview with Adam Levinson, chief investment officer at Graticule Asset Management Asia, the expert noted that the current volatility of growth stocks and the traders’ fear over the Federal Reserve (FED) raising interest rates is slowing down the pace at which institutions decide to invest. Levinson claims that many traditional institutions have already decided to allocate in crypto, but the current volatility has kept them away from investing. “They don’t want their first foray into the space to be a money-losing proposition quickly.[…] Institutional allocations will wait until the global equity markets, particularly growth equities, have stabilized.” The U.S. inflation has increased significantly and consequently so did the Vix ‘fear’ index, which measures the expectation of volatility for the stock market based on S&P 500 index. High inflation numbers create more pressure for the FED to increase rate-hikes and many investors believe the traditional markets are potentially set for a big sell-off. Since bitcoin has been trading more like a stock, this directly affects the crypto market. The total capitalization has been recovering in the past week, but might see more volatility soon. As Levinson noted, “What has happened this year is that you move to an environment where the Fed is being forced to raise rates, as are other central banks, and you are seeing a change in the extremely abundant liquidity environment.” As a result, “Crypto suffered. Crypto is basically traded as a risk asset, looking like a growth equity,” he added. However, Lenson thinks that over the middle of the year there will be a situation “where crypto trades better than growth equities,” which could result in more institutional investors going forward and investing in crypto. Related Reading | Could Crypto Adoption Represent a Compliance Opportunity for Banks?

The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon. Gold-Backed Tokens Surge These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold. Physical gold is somewhat limited in its supply and tokens like this have provided an avenue for investors to get in on the millennium-old asset. These tokens follow the price of a commodity, gold in this case, in the same way, that stable coins follow the price of the fiat currency they are pegged to. Related Reading | Crypto Market To Drop 80% Like Early Internet Company Stocks?, Why This Analyst Thinks So Unlike gold ETFs, gold-backed crypto tokens allow investors to own a part of a physical gold bar, whereas investors are mainly betting on the price of gold with ETFs. Furthermore, investors are able to redeem their gold-backed tokens for physical gold whenever they want. These characteristics have drawn more and more investors to these commodity-backed crypto tokens and as a result, the price of these digital assets has grown tremendously. So much so that these assets have been able to outperform the crypto market at large. Gold-backed tokens outperform crypto market | Source: Arcane Research Two of these gold-backed commodities have recorded the highest growth; Tether Gold (XAUT) and PAX Gold (PAXG). These two crypto assets have grown to a market cap of $409 million and $358 million respectively, marking a significant growth year for each asset. Beating The Crypto Market Even with the crypto market marking several bull runs in 2021, gold-backed tokens have managed to outperform the market. In 2021, the overall crypto market had grown a total of 150%. In contrast, the gold-backed token market surged as high as 360% in the same time period, returning more than twice that of the broader crypto market, with PAX Gold and Tether Gold leading the charge. Crypto total market cap at $1.95 trillion | Source: Crypto Total Market Cap on TradingView.com Other commodities-backed crypto tokens have also begun to gain prominence in the market. Others have emerged that have been tied to silver, palladium, and even oil, but all of these have been met with obstacles that they have found hard to scale, stunting their growth. Related Reading | Why Is Talent Leaving Silicon Valley For Crypto Companies? Recruiters Explain Nevertheless, the gold-backed tokens have shown that commodities-backed tokens do have a future in the market. With growth expected to continue across the crypto market, these tokens may be on their way to being one of the most profitable subsets of crypto investments in the space. Featured image from Finance Magnates, charts from Arcane Research and TradingView.com