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In August, the professional soccer universe was turned on its head as superstar Lionel Messi signed a new contract with Paris Saint-Germain, ending his 21-year association with F.C. Barcelona. The Argentine Superstar announced he would be signing a two-year contract with the option to extend to a third year, which would pay him $41 million a year. 

The superstar’s payment package will also include a new form of payment, namely $PSG fan tokens. These tokens are crypto native tokens which the club first introduced in early 2020 after partnering with Socios.com. Leading up to the announcement, $PSG fan tokens surged in price 164% to $58 per token. The value created provided loyal token holders with more upside than the simple pleasure of knowing they had just gained a superstar. 

Lionel Messi was not the first famous world footballer to participate in the Socios.com economy. In March of this year, Cristiano Ronaldo was honored by Juventus F.C. – an Italian soccer club andSocios.com partner – with 770 $JUV fan tokens as he broke Pele’s 767 official match goal mark with a hat-trick against Cagliari. Juventus, the first soccer team in the world to launch a crypto token in 2019, has utilized its fan token to provide supporters with governance rights (via on-chain voting), fan decision polls, rewards for engagement, and price appreciation.  

Socios.com has continued to make inroads across the sports landscape. From the Champions League, to UFC, to professional tennis, the company is providing a framework to integrate fan engagement and blockchain. Their presence in the space is only growing. This week, Socios.com was named the official partner for the Ballon d’Or Awards – the Golden Globes of world football. In 2020, the Ballon d’Or Awards were viewed by 823 million people across social media platforms according to data from France Football. As the company continues to partner with teams and leagues, particularly with the U.S. big four properties, Socios.com could become a mainstay in the broader fan engagement landscape.   

Company Background

Chiliz is a blockchain-based platform that allows sports fans to engage and have a unique ability to monetize the experience of being a fan. Fundamentally, Chiliz addresses two issues that currently plague the sports industry: funding and engagement. The platform has the dual ability to allow fans to invest in and “control” their favorite sports organizations but also provides sports properties access to much needed forms of capital. The overall mechanism allows fans to feel more connected to teams as they are able to take real monetary stake in their favorite franchises.

Based out of Malta, the parent company – Chiliz -has been in the works since 2016. However, active work that included product & team development began in early 2018 when the company raised $66 million through Private Placement. A large portion of the initial proceeds have been used to fund the buildout of the world’s first fan engagement & rewards app, Socios.com (a property of Chiliz).

The primary Chiliz offering is the Socios.com platform, a blockchain-enabled sports entertainment platform that empowers users with a variety of ways to directly vote on decisions that impact their favorite teams. The Chiliz platform’s rich array of features gives teams and athletes new ways to connect with their fans and generate revenue.

The Chiliz Ecosystem

In order to understand the mechanics of and dynamics between Chiliz and Socios.com it is important to first make a distinction between a few of the companies’ properties:

Chiliz: This is the world’s first cryptocurrency exchange for sports, allowing crypto-enthusiasts and traders to speculate and trade existing Fan Tokens. “Chiliz” is the actual blockchain infrastructure upon which the entire platform operates. It is a payment and cryptocurrency platform used for blockchain-powered services and products which are targeted at mainstream consumers. To date the application has been predominantly utilized for sports, and in particular soccer. Chiliz enables unique fan engagement experiences that allow entities within the sector to incentivize and monetize audience participation. 

The blockchain infrastructure leverages existing blockchain technology – namely Ethereum with an additional side chain off of Ethereum. This means that the Socios.com platform runs on two different blockchains:

A permissioned sidechain (Chiliz sidechain)The main Ethereum blockchain (base layer)

While the Ethereum chain is open-sourced, the permissioned sidechain is not.  In the past it has been called out for centralization concerns since it is a private rather than public chain, however using a permissioned sidechain also provides superior security for Chiliz. Furthermore, the sidechain was not intended to be open source and the ChiliZ governance team has made that clear from the start. The company has expressed that they value security over transparency. 

The transactional nature of the product (voting and actual trading of tokens) takes place on the sidechain. Once transactions are completed, the data is stored permanently in a public ledger on the sidechain and is accessible for all to see. By using a permissioned sidechain, Chiliz is able to dramatically reduce the transaction costs by using a Proof of Authority consensus mechanism to confirm the new blocks created. The sidechain also means the platform can scale to grow as needed without incurring exorbitant costs.

In summary – the ChilliZ platform is where the ChiliZ tokens are minted. Once minted, the ChiliZ tokens (a form of currency) can be used to purchase other team specific team tokens.  

Chiliz Token: The Chiliz Token (“CHZ”) is a fungible token (not an NFT) that can be used on the Ethereum blockchain as a form of currency. The token is an ERC-20 and BEP-2 compatible utility token that powers the Chiliz ecosystem. This means that the tokens are compatible on both Ethereum and Binance (block chains upon which other blockchains can be built). Being both ERC-20 and BEP-2 means that the tokens can be easily adopted in international markets (Binance is used most by international countries) as well as domestically. The CHZ tokens can be traded on various exchanges including Binance, Coinbase, and the Chiliz exchange itself. 

Furthermore, the CHZ token is the base asset across the entire Chiliz blockchain. This means that all transactions on the Chiliz blockchain require an amount of CHZ. This includes token exchanges on the Chiliz Exchange, and the fan voting mechanism.

In summary – CHZ tokens are used on the Ethereum main chain to transact in any and all capacities. Once transactions occur they are permanently stored on the Ethereum public ledger.

Socios.com: Socios.com is the first-of-its-kind fan engagement platform that was created and deployed on the Chiliz blockchain. It is used by fans to buy branded ‘fan tokens’ from internationally recognized sports teams and organizations.

The platform empowers users with a variety of ways to vote on decisions that directly impact their favorite teams. Conversely, the platform’s rich array of features provides team owners and league operators with new ways of connecting to their followers and generating revenue. As a highly engaged two sided marketplace, fans and owners alike can benefit monetarily from the transactions. 

Sports fans get started by joining the Socios.com platform and obtaining CHZ tokens, which can be used to purchase Fan Tokens for a particular sporting organization. While CHZ tokens serve as the exclusive currency of the platform, Fan Tokens are issued by internationally recognized sports teams and organizations and are tokenized representations of voting rights for their respective issuers. This means that by utilizing CHZ tokens (the main form of currency), fans can purchase these Fan Tokens which are minted by individual teams and organizations. Users who hold Fan Tokens for a team can vote on whatever decisions that a given team chooses to crowdsource to their supporters on Socios.com.

The Socios.com platform is underpinned by CHZ, which serves as a pricing benchmark and medium of exchange across the Chiliz ecosystem.

Community Fan Tokens

In building the Socios.com product and ecosystem, the fundamental value proposition for both fans and franchises is the ability to monetize fandom. As many legacy business models shift towards a more community based and participatory approach, the sports industry will be required to turn their current passive revenue model into a more active one. 

As it currently stands, there is a cap on the amount of revenues that teams and leagues can derive from broadcast revenues, tickets, and even sponsorships. We are reaching an asymptote of sorts as the size of stadiums is shrinking and the ability to increase pricing is diminished due to social pressures. Founder and CEO of Chiliz & Socios.com commented in an interview with macro investor Raoul Pal that fan monetization is the next and only frontier for teams to increase their revenues. 

“So the only thing that can grow in the sports industry is fan monetization. But what can you sell to a fan? There is always this dream of, oh, we’re going to sell content, and they’re going to have behind the scenes. Nobody buys this. The only content that people buy in sports is live sports; that’s it. People don’t really buy a replay. It’s free on most of the platforms. And everything that is behind the scene is on social media, Instagram. And it’s for free, because then, celebrities capture on that to sell their own sponsoring. So the only thing that you can create is this new relationship between sports teams and fans.”

-Alexander Dreyfus, CEO of Chiliz & Socios.com

While the primary purpose of Chiliz and Socios.com is to create monetization through engagement, there is also an aspect of scarcity that comes into play. Like most things in sports, scarcity rules all – whether its tickets, collectibles, jerseys, etc., scarcity is the main driver of value.  With the ability to mint specific amounts of Fan Tokens, Socios.com has tapped into that ethos. 

Regular ticketing or apparel businesses are designed around a primary utility offering while at the same time benefiting from secondary markets with enormous transaction volumes. The global resale market for sneakers was estimated to be more than $6 billion and Socios.com anticipates that their fan tokens will be treated similarly. 

Current Value Proposition

As the product has come to market, teams have minted their own Fan Tokens and created unique experiences for their fans. The current product offering on the Socios.com app includes (but is not limited to) purchasing or “hunting” for fan tokens, voting on team specific polls, and participatory games and activities which earn rewards and unlock VIP experiences. 

Hunting for fan tokens: Token Hunt is an augmented reality geo-location enabled token discovery feature, where users can collect $CHZ (platform’s loyalty Tokens) and on special occasions Fan Tokens for free. Token Hunt is a global experience. All you need to do is log-in daily, and see what’s available to hunt down from any location. In February, Socios.com announced its largest token hunt with 750,000 $CHZ tokens available to users. Polls: Clubs publish polls regularly and they vary from club to club. Juventus has utilized such an initiative by asking their fans to choose a new goal celebration song. Additionally, Apollon Limassol (Cyprus) fans were able to choose the team’s starting line-up. Polls conducted by teams can be binding or non-binding. A binding poll means the club will stick to the decision that’s taken by the fans. A non-binding poll is where the club asks only for guidance from fans. Participate and win: An example of the “participate and win” feature for Socios.com was conducted by Inter Milan earlier this month. Holders of the Inter Fan Token were able to participate in a specific poll where participants who got 6 out 6 questions during a specific time period would be eligible to win a signed Inter kit. The participate and win feature demonstrates a unique way in which teams can better monetize their fans while fans are rewarded with unique participatory opportunities. 

While the current offerings are unique, the company has yet to scratch the surface of its capabilities. While the features are listed above, Dreyfus believes that the company has yet to unlock some of the key value propositions. Dreyfus believes that teams will soon be able to monetize “bragging rights” and essentially create a proving system for the most engaged and involved fans. 

The thesis is that the new era of fans is more fragmented than ever before. Fans flock to their favorite players as opposed to teams and thus have a “portfolio” of teams that they follow. As a composite for the modern fan, imagine an individual who loves Juventus for Cristiano Ronaldo, PSG for Messi, the Lakers for Lebron, and the Buccaneers for Tom Brady. As more and more teams are on-boarded onto the platform, the stronger the network effects of the platform become. Teams on the platform benefit from other teams joining as it increases the likelihood of participation across verticals. A fan who joins because they love Lionel Messi could very well end up buying Juventus tokens due to their Ronaldo fandom. 

As more and more individuals move into the Socios.com ecosystem – Socios.com can further expand their ecosystem to include sponsorship partners as well. According to Dreyfus, players will be able to engage with their clubs through commerce as well. Take for example a “regular way” purchase of merchandise.:  

If a fan owns a Socios.com VISA card, their purchases could be identified by the types of fan tokens they have associated with that card. If the individual were to purchase a Barcelona jersey from a Nike store – the store would be able to identify that purchaser as a Barcelona fan due to their token ownership. Rewards (i.e. discounts, cashback, etc.) can then be applied to teams’ most active fans as they engage with sponsors, creating an alignment between all stakeholders within the transaction framework.  

Furthermore, Socios.com is looking to include other stakeholders as they move up and down the value chain. In April, Socios.com announced a partnership with Japanese e-commerce and Fintech behemoths. Japanese electronic commerce company Rakuten has also forayed into the space. Looking to expand its footprint in the European markets, the company has agreed to allow users in Spain, UK and Germany to participate in the Socios.com ecosystem. Through this partnership, Rakuten customers in Spain, UK and Germany can use Rakuten points to redeem Fan Tokens – collectible, tradable digital assets that provide owners with benefits including voting rights, VIP rewards, club & sponsor promotions, AR-enabled features and super-fan recognition on Socios.com. Currently, Rakuten members can earn points through loyalty rewards programs on everyday shopping and redeem them in a multitude of ways including gift cards, movies, e-books, and other’s. 

According to an article by FinExtra, Cédric Dufour, Managing Director Open E-Commerce for Rakuten Europe stated: 

“Our goal is to create an innovative, customer-centric membership program unlike any other in the region. Key to this is the right mix of great value, unique offers and exclusive features for consumers. Thanks to the partnership with Chiliz and Socios.com, we are now the only loyalty program to integrate the possibility to redeem points for tokens – a huge benefit for Rakuten customers and a big step towards making our diversity a game changing strength in the industry.” 

-Cédric Dufour

Rakuten provides an actionable example of how members within the sports value chain can utilize the Socios.com business model to their advantage. Sponsors, partners, and affiliates alike can further engrain themselves into the sports ecosystem as they provide fans with increased utility in their engagements with various brands. Whether it be Nike, Puma, Pepsi, or Visa, these companies can gain a monetary benefit from increasing their own utility to fans. 

Current Socios.com Market and Tokenomics

Tokenomics is known as the “study” or analysis of the economics of various types of cryptocurrencies. The determination of a quality of an asset within the blockchain space can vary from more traditional assets. Below we have listed some of the key determining factors in asset valuation and tokenomics:

Supply: Supply is a crucial factor in the design of Tokenomics with a lot of these coins having massive supplies. When determining the supply of tokens, the key phrase is “in circulation”. In general, almost every project has coins or tokens not in circulation because they are locked or yet to be mined. Just as in regular economics a large supply has downward impacts on price and vice versa. Asset Construction: This is basically the asset classification of crypto. Like stocks and hard assets are treated differently in the financial world, tokens and coins are treated differently in the crypto world. Tokens differ greatly from crypto commodities (coins) like Ethereum and others.  There are fundamental differences to understand even if people use them interchangeably. Coins native to their own blockchains (Layer 1) means that they are only utilized within the rails of that particular blockchain.  Notable examples include Ethereum, Cardano, and Polkadot. On the contrary, tokens do not have their own native blockchains but live on top of established blockchains (Layer 2), they can even reside on multiple blockchains (e.g. Chiliz exists as an ERC20 token on Ethereum and BEP20 token on the Binance smart chain). The most important difference between crypto coins and crypto tokens is how they are treated by regulators. Coins, on the one hand, can function like currencies driving the exchange of value. Tokens, on the other hand, have the characteristics of publicly traded stocks in a company. This means that regulators such as the SEC treat the assets differently.Utility: The role of utility or use cases in the economics of a crypto asset is perhaps the most important when applied to Chiliz specifically. Utility is determined primarily by use case. It includes anything driving adoption and demand such as Bitcoin having the primary use case as being a store of value like gold but with democratized access. Others, like Ethereum, have the utility of network fees. Decentralized finance (“DeFi”) tokens have the utility of being votes (like equity stakes in public companies) in the governance of protocol.  This means when the total value locked in a protocol increases so too does the demand for its governance token.

Given the “Tokenomics Primer” above, it is important to note that the overall utility and intended use case for the Chilz coins is to bring individuals onto the Socios.com platform. The stated objective is to build network effects and not necessarily value appreciation. The Chiliz tokens facilitate transactions for fans to engage with their teams. 

Below we have outlined the supply statistics related to the Chiliz token initial coin offering. In April of this year, the Chiliz coin saw massive adoption and an associated increase in price. At its high on March 13th ($0.83) it represented  a 4050% increase. Since then, the price has come back down – commensurate with other crypto assets during Q2 and Q3. The price now hovers around $0.44 with a total market capitalization of ~$2.65 billion. Below is the breakdown of the Chiliz token distribution:

CHZ Token Distribution (in tokens):

Total Chiliz supply: 8,888,888,888Private Placement:  3,066,666,666Team + Seed Investors: 1,111,111,110Advisory Board:  266,666,666User Base Reserve:  1,777,777,780Marketing Operations:  1,333,333,333Strategic Acquisitions:  1,333,333,333

If you would like to follow the Chiliz token pricing, below we have listed links to various exchanges that track pricing:

Chiliz Pricing:

Coin Market : https://www.coinbase.com/price/chiliz

Coingeko: https://www.coingecko.com/en/coins/chiliz 

Participating Teams and Organizations

In the past six months, the Socios.com platform has added various major U.S. based franchises including members of the NBA, NFL, and MLS. Having proven out the initial business model in primarily European soccer leagues, the company has aggressively expanded into the U.S. markets. As the company continues to increase its U.S. footprint, we will be tracking the new ways in which the company looks to create activations with its partners.

Below we have listed the company’s primary partners – professional soccer teams:

Additionally, we have included their investments in non-soccer properties below:

Final Thoughts

Going forward, the most important task for the team at Socios.com and Chiliz is customer education. Teams and leagues have been slow to adopt the new technology thus far. Much of the hesitancy to date has been around the technology. 

“Right now, the sports industry is difficult, because, let’s be realistic, when we started three years ago to engage with these clubs, it was all about education. Three years later, it’s still all about education, and in the next three years, it’s still going to be all about education. Why? Because people don’t understand what we do sometimes. Sometimes we sign deals that are very successful for the teams, make millions of dollars, and yet, sometimes, the management doesn’t completely get what we are doing. And I’m not afraid to say that, because it’s true. And it’s OK”

Clubs are currently unwilling to “give away” valuable IP, information, experiences, and other benefits to a technology or concept that they have yet to see fully proven. Our take? The ability to monetize fans in new and inventive ways will be not only a benefit, but a necessity in the coming years. As revenue streams continue to be arbitraged out, Socios.com provides a legitimate path to monetization. 

For any questions regarding the report, please reach out to me directly at liam@fos.company

Bitcoin and the majority of Altcoins saw price declines on Nov. 6 as traders reacted to the passage of a $1T infrastructure bill with crypto tax for Biden’s approval. The pullback in Bitcoin and Ethereum pushed a majority of Altcoin tokens into the red. There are, however, a few outliers in the market. Helium (HNT, +14.30%), Kadena (KDA, +21.51%), Rari Governance Token (RGT, +30.14%) climbed to fresh all-time highs on Nov. 6 while Nervos Network (CKB, +31.42%), Chiliz (CHZ, +19.47%), XYO (XYO, +15.11%), OriginTrail (TRAC, +25.45%), LCX (LCX, +35.40%), Wilder World (Wild, +15.50%) were significantly up in the last 24 hours. The rise in the price of KDA to all-time highs of $13.82 on Nov. 6 comes as Kadena marks the fourth consecutive day in the green after resolving a bullish pennant. A revamp of the project’s website contributes to the positive sentiment as well as the upcoming arrival of Wrapped KDA on Ethereum.

”Soon you’ll find Wrapped $KDA on an Ethereum-based #DEX near you! Along with bridging to ETH, @kadena_io is committed to expanding to other layer-1 protocols such as @terra_money, @Polkadot, @CeloOrg, @cosmos, & more!”.

CHZ is the native asset of Chiliz which also powers the socios fan engagement app. The recent increase in CHZ price follows up the massive spike seen in late October after Chiliz disclosed it had deployed the beginning of its NFT strategy. Announcing the debut of the AC Milan NFT drop, it says “The AC Milan launch will be the first of many similar launches to be held with our 100+ strong roster of partners”. Rari Governance Token (RGT) is the native asset of Rari Capital, a DeFi protocol that allows users to borrow, lend and earn yields on crypto assets. Rari surged to fresh highs of $61.76 on Nov. 6 following the news of its Binance Listing. Nervos Network (CKB) rose to fresh highs of $0.03 on Nov. 6 following the debut of the mainnet beta layer-two blockchain project, Godwoken. Other community-based projects scheduled for release in the coming months such as YokaiSwap adds to bullish enthusiasm. Helium (HNT) has ticked higher since November’s start, marking the fifth consecutive day in green to reach all-time highs of $39.10 today. In late October, Helium announced a new partnership with Dish Network, which will further extend its 5G network in exchange for HNT rewards.3 Reasons To Be Bullish on BTC and Altcoins?

1. Metrics From On-Chain Analytics, Santiment Indicate Bitcoin Is Yet Underbought.

”#Bitcoin’s 30-day MVRV, measuring the returns of 30-day trading addresses, indicates that it’s crept into negative territory for the first time since September 30th. For #bulls, this is a great sign, indicating a mild signal of $BTC being underbought”.

2. Stock To Flow Creator, PlanB whose prediction of Bitcoin’s monthly closes since August has fallen in line believes a 60% jump for Bitcoin price is not farfetched based on historical context. ”Some people think Nov. close $98K is too big a jump. It is +60% from the current level. Yes, that is a big jump. But #bitcoin did this many times before, May 2019 +62%, Aug 2017 +66%, May 2017 +66%, Nov 2013 +451%, Oct 2013 +61%, Mar 2013 +181%, Feb 2013 +63%” Other analysts are confident that Bitcoin’s next breakout will push its price above $80,000, probably towards $90k. On-chain data source Ecoinometrics data suggests that if the current cycle follows the same pattern as in 2017, the next BTC price peak could be as much as $253,800. 3. Positive Correlation Between the Traditional Markets and the Crypto Market. November traditionally sees strong gains for United States stocks. Data also indicates that November has been the best performing month for the S&P 500 since 1985. Will Morris, a trader at GlobalBlock says “Historically, there has been a slightly delayed positive correlation with traditional markets and the crypto market, helping to build the case for a bullish November for digital assets.”

Image Credit: Shutterstock

Tags: AltcoinsBitcoin (BTC)Chiliz (CHZ)Helium (HNT)Kadena (KDA)LCX (LCX)Nervos Network (CKB)OriginTrail (TRAC)Rari Governance Token (RGT)Wilder World (WILD)XYO (XYO)

Previous PostMetaMask Integrates with Bitfinex Pay to Further Serve Growing Demand for Crypto PaymentsNext PostDOGE Price Analysis: What To Watch in Dogecoin Amid Meme Cycle? Elon Musk Changes Twitter Name to ‘Lorde Edge’Next Post DOGE Price Analysis: What To Watch in Dogecoin Amid Meme Cycle? Elon Musk Changes Twitter Name to ‘Lorde Edge’

Following a week-long price rally, DOGE and SHIB are consolidating. Analysts have a bearish outlook on SHIB's price.  

World's oldest cryptocurrency exchange slams memecoin hype

Bitstamp CEO Julian Sawyer is not keen on Shiba Inu-themed coins. According to Sawyer, Bitstamp will not engage with smaller cryptocurrencies such as Dogecoin. Sawyer criticized Tesla CEO Elon Musk's tweets that led to DOGE price swings. 

Sawyer said:

Fundamentally, you have to look at the basics, which is why we only want to list those assets that have some substance behind them, some liquidity.

The Bitstamp CEO's criticism is backed by Dogecoin's recent price swings triggered by Musk's tweet. 

It is interesting to note that influencers that promote Dogecoin on Twitter and social media personally do not own enough DOGE to benefit from price swings. This strengthens the coin’s community and reaffirms confidence of investors in the crypto. 

Mark Cuban, billionaire entrepreneur and owner of Dallas Mavericks, shared details of his Doge holdings in a recent tweet

When it comes to DOGE or SHIB, the top concerns of traders and exchanges are lack of liquidity and centralization. 63% of Dogecoin and nearly 90% of Shiba Inu coin's supply is concentrated in wallets of large holders based on IntoTheBlock data. 

Cryptocurrencies with low liquidity run the risk of a spike in price due to non-events like tweets from influencers, thus making them highly volatile to hold in the long term. 

Influencers like Musk and Cuban consistently promote Shiba Inu-themed cryptocurrencies for their utility and strong community; recently, these attempts have failed at influencing the price positively. 

Dogecoin's correlation with leading cryptocurrency Bitcoin has increased; at the time of writing, it is 0.88. This has emerged as a factor that negatively influences the price. 

BTC is currently range-bound between $45,000 and $48,000, and the rising correlation led to a consolidation in DOGE's price. 

DOGE's rival SHIB had a successful week before its price plummeted to the $0.000008 level. The launch of KriptoKards SHIBA NFT card collection triggered a run to $0.000009. Traders are now unsure if the cards are worth the quoted price on NFT marketplace OpenSea. The floor price for the cards is $150 or 0.05 ETH. 

Overall, despite recent developments, traders' outlook on the top two Shiba Inu-themed cryptos is largely bearish. 

According to analysts at FXStreet, SHIB is primed to retrace before the next leg up. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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Cryptos feed-->  Latest Crypto News

Crypto trader Aaron Arnold is naming four crypto projects that are making big moves regardless of the price swings in the market.

In the latest Altcoin Daily video, Arnold tells the channel’s 1.11 million YouTube subscribers that smart contract platform Avalanche (AVAX) is making “real progress” with its rapidly growing ecosystem of 358 projects in the last 13 months.

Next on his list is Fantom (FTM), a blockchain platform for decentralized finance (DeFi) and decentralized applications (DApps). According to Arnold, Fantom continues to show signs of strong fundamental growth.

“Fantom keeps growing exponentially. Fantom is a fast and scalable next-generation layer-1 platform. Let’s take a look at some stats: 1.1 million unique addresses, 75,000 plus daily active addresses, almost 1 million daily transactions, 44,000 plus smart contracts deployed and $5.3 billion total value locked.”

The crypto trader is also keeping a close watch on lending and borrowing protocol Aave, which recently passed its third iteration (V3). While Aave V3 offers new functionalities, Arnold highlights one feature that he says could change the game for the DeFi protocol.

“AAVE, a blue chip already, they’re launching their V3 now. It’s packed with tons of brand new features… Probably the biggest game-changer is what’s known as Portal, allowing assets to seamlessly flow between Aave V3 markets over different networks, so Ethereum, to Avalanche, to Fantom, to Cardano, to Solana, this is what we’re talking about. This is a big game-changer.”

Last on Arnold’s radar is fan engagement token Chiliz (CHZ). According to Arnold, Chiliz could benefit from Socios’ new partnership with NFL team New England Patriots.

“Chiliz, the world’s first tokenized sports exchange. Chiliz token powers the Socios fan engagement app so I would say this is probably pretty good for Chiliz or projects like Chiliz, and that’s why I’m putting them on our list today, and they’re looking good.”

I

Check Latest News Headlines  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto trader Aaron Arnold is naming four crypto projects that are making big moves regardless of the price swings in the market.

In the latest Altcoin Daily video, Arnold tells the channel’s 1.11 million YouTube subscribers that smart contract platform Avalanche (AVAX) is making “real progress” with its rapidly growing ecosystem of 358 projects in the last 13 months.

Next on his list is Fantom (FTM), a blockchain platform for decentralized finance (DeFi) and decentralized applications (DApps). According to Arnold, Fantom continues to show signs of strong fundamental growth.

“Fantom keeps growing exponentially. Fantom is a fast and scalable next-generation layer-1 platform. Let’s take a look at some stats: 1.1 million unique addresses, 75,000 plus daily active addresses, almost 1 million daily transactions, 44,000 plus smart contracts deployed and $5.3 billion total value locked.”

The crypto trader is also keeping a close watch on lending and borrowing protocol Aave, which recently passed its third iteration (V3). While Aave V3 offers new functionalities, Arnold highlights one feature that he says could change the game for the DeFi protocol.

“AAVE, a blue chip already, they’re launching their V3 now. It’s packed with tons of brand new features… Probably the biggest game-changer is what’s known as Portal, allowing assets to seamlessly flow between Aave V3 markets over different networks, so Ethereum, to Avalanche, to Fantom, to Cardano, to Solana, this is what we’re talking about. This is a big game-changer.”

Last on Arnold’s radar is fan engagement token Chiliz (CHZ). According to Arnold, Chiliz could benefit from Socios’ new partnership with NFL team New England Patriots.

“Chiliz, the world’s first tokenized sports exchange. Chiliz token powers the Socios fan engagement app so I would say this is probably pretty good for Chiliz or projects like Chiliz, and that’s why I’m putting them on our list today, and they’re looking good.”

I

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Submit a Press ReleaseIndustry AnnouncementsAPENFT Partners With WINK To Enter GameFi World With ‘WIN NFT HORSE’ IGO on BinanceNovember 15, 2021Minima Accelerates Toward Mainnet, With More Than Half of Bitcoin’s Full Node CountNovember 15, 2021Verasity Partners With Axie Infinity for the FTX GalAxie Cup Professional Esports TournamentNovember 15, 2021Amasa Partners With Polygon Studios To Accelerate Adoption of Play-To-Earn GamingNovember 12, 2021Evrynet Joins Stanford’s Future of Digital Currency Initiative and Will Incorporate SPEEDEX as Part of Its EcosystemNovember 12, 2021Kart Racing League Announces Public Sale of Governance TokenNovember 12, 2021Reef Finance Rebrands to Reef As It Commences Development of EVM-Compatible BlockchainNovember 12, 2021Submit a Guest m$4,333.30$4,333.308.76%Binance 467166.44%SpotlightAncient Bitcoin Whale Awakens, Moving $148,000,000 in BTC After Lying Dormant Since 2013November 11, 2021Here’s One Advantage Crypto Has Over the Stock Market, According to Bloomberg Strategist Mike McGloneNovember 14, 2021One Crypto Sector Is Getting the Attention of Institutional Capital, According to Digital Lending and Trading FirmNovember 9, 2021Crypto Trader Aaron Arnold Bullish on Several Altcoin Projects, Predicts Continued Dominance for Bitcoin and EthereumNovember 12, 2021

by Emma Newbery | Published on Dec. 1, 2021

Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Image source: Getty Images

From metaverse to sports tokens, there's something for everyone in this month's list.

Key pointsCrypto had a rocky month in November as tax reporting rules and COVID news pulled prices down.We've got the metaverse, Web3, smart contracts, and sports tokens on our radar.

Check out The Ascent's cryptocurrency apps for 2021

November was a rough month for cryptocurrencies. The granddaddy of crypto, Bitcoin (BTC), reached an all-time high early in the month, only to tumble almost 20% in the following weeks. Unsurprisingly, many other cryptos followed suit.

Several factors pulled the market down, including the new tax reporting rules, news of another COVID variant, and various regulatory moves around the world. Plus, crypto is notoriously volatile, and new highs are often followed by corrective lows.

We can expect more volatility -- and possibly more price drops -- in December, especially if there are additional regulatory changes. Personally, I am still cautious about decentralized finance tokens in the short term, as I want to see what impact new regulation will have.

Some investors may see further price drops as a good time to buy the dip and pick up coins like Solana (SOL), Avalanche (AVAX), and Cosmos (ATOM) that have already made big jumps. Others may want to top up on old favorites like Bitcoin, Ethereum (ETH), and Cardano (ADA). For many more, it's a matter of holding through the dips and avoiding any panic sales.

With all that in mind, here are four altcoins to keep on your radar in December.

1. Enjin (ENJ)

We've talked a lot about Metaverse tokens in our recent monthly articles on altcoins to watch, as this is a key crypto trend right now. Sandbox (SAND) and Decentraland (MANA) have both risen over 500% since the start of October, according to CoinMarketCap data. Enjin is up almost 170% in the same time period.

It's wise to think carefully before jumping into the latest craze, especially in cryptocurrency, where speculation is rife. But Enjin is an interesting long-term metaverse project, as the platform allows users to create and trade non-fungible tokens (NFTs). NFTs are unique digital collectibles where the ownership information is coded into the token, and they play an important role in the way people own things in these virtual worlds.

It is very early days for the metaverse and we don't yet know how it will unfold. But if it does take off, NFTs will be a core element. Since Enjin makes it easy for people to store and trade their NFTs no matter which metaverse or game they bought them in, it's a cryptocurrency I'll be paying attention to.

2. Livepeer (LPT)

Another term that's being bandied about is Web3 -- and this is another trend to pay attention to. Web3 is an umbrella term for a next generation decentralized internet that doesn't rely on three or four massive companies. There are a number of Web3 projects that decentralize the way our information is stored, shared, and monetized.

One that has performed well recently is Livepeer, a decentralized video streaming network. Network participants can earn LPT tokens by contributing their unused computer processing power. Livepeer uses this network of computers to do the intensive work of reformatting videos for different devices. This way, it doesn't need expensive infrastructure to provide a cheaper and more reliable way to stream videos.

3. Elrond (EGLD)

Elrond is one of several smart contract cryptocurrencies to grab investor attention this year. It is a faster, cheaper alternative to Ethereum and has already attracted a number of projects.

Elrond recently announced a $1.29 billion liquidity incentive program for its newly launched decentralized exchange, the Maiar DEX DeFi platform. This offers big rewards to investors who stake EGLD and MEX, the Maiar DEX utility and governance token on the platform. As various programmable blockchains jostle for position, this move makes Elrond a coin worth watching this month.

4. Chiliz (CHZ)

Chiliz is a cryptocurrency aimed at sports enthusiasts. Fans can get involved with their favorite teams by buying fan tokens through its socios.com platform. Token holders can vote on decisions like celebration songs, messages on the captain's armband, and other social media activities. They can also win rewards, such as VIP behind-the-scenes access, signed memorabilia, and meet-and-greet experiences.

One reason Chiliz is interesting right now is its new NFT offer. The first live in-game NFT drop took place during a soccer match between AC Milan and AS Roma. Live NFTs are created based on in-game action, and these limited edition NFTs are already proving popular.

Another reason to keep Chiliz in your sights is that it is well-positioned as crypto exchanges move into sports sponsorship. The Crypto.com Coin (CRO) jumped this month on news it had bought the naming rights to the Staples Center. On top of that, Binance recently launched a sports fan token platform.

Invest with caution

At The Ascent, we favor a buy-and-hold investment approach, which means we look for coins with good long-term potential. CoinMarketCap now puts the number of cryptocurrencies on the market at over 15,000. Sadly, many of those coins will fail. This is still a relatively new and untested market, and some experts warn the industry could collapse completely.

Cryptocurrency investing can produce extraordinary returns, but it also carries high risks. That's why it's important to only invest money you can afford to lose and to ensure your crypto assets are just a small part of your overall investment portfolio. Research coins carefully before you make any decisions.

Finally, the coins above are available from top cryptocurrency exchanges in the United States. There are a lot of exciting smaller coins that aren't easy to buy if you live in the United States. However, we tend to keep them off our list of coins to watch as it can be extra risky to trade on unregistered crypto platforms.

Buy and sell crypto on an expert picked exchange

There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.

To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.

About the AuthorEmma Newbery

Emma owns the English-language newspaper The Bogota Post. She began her editorial career at a financial website in the U.K. over 20 years ago and has been contributing to The Ascent since 2019.

Share This Page

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

Emma Newbery owns Bitcoin, Ethereum, Solana, Avalanche, Cosmos, Cardano, Enjin, Livepeer, Elrond, Crypto.com Coin, and Chiliz.

The Motley Fool owns shares of and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.Featured Articles

Best Cryptocurrency Apps

Best Places to Buy Bitcoin

by Emma Newbery | Published on Dec. 1, 2021

Many or all of the products here are from our partners that pay us a commission. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Image source: Getty Images

From metaverse to sports tokens, there's something for everyone in this month's list.

Key pointsCrypto had a rocky month in November as tax reporting rules and COVID news pulled prices down.We've got the metaverse, Web3, smart contracts, and sports tokens on our radar.

Check out The Ascent's cryptocurrency apps for 2021

November was a rough month for cryptocurrencies. The granddaddy of crypto, Bitcoin (BTC), reached an all-time high early in the month, only to tumble almost 20% in the following weeks. Unsurprisingly, many other cryptos followed suit.

Several factors pulled the market down, including the new tax reporting rules, news of another COVID variant, and various regulatory moves around the world. Plus, crypto is notoriously volatile, and new highs are often followed by corrective lows.

We can expect more volatility -- and possibly more price drops -- in December, especially if there are additional regulatory changes. Personally, I am still cautious about decentralized finance tokens in the short term, as I want to see what impact new regulation will have.

Some investors may see further price drops as a good time to buy the dip and pick up coins like Solana (SOL), Avalanche (AVAX), and Cosmos (ATOM) that have already made big jumps. Others may want to top up on old favorites like Bitcoin, Ethereum (ETH), and Cardano (ADA). For many more, it's a matter of holding through the dips and avoiding any panic sales.

With all that in mind, here are four altcoins to keep on your radar in December.

1. Enjin (ENJ)

We've talked a lot about Metaverse tokens in our recent monthly articles on altcoins to watch, as this is a key crypto trend right now. Sandbox (SAND) and Decentraland (MANA) have both risen over 500% since the start of October, according to CoinMarketCap data. Enjin is up almost 170% in the same time period.

It's wise to think carefully before jumping into the latest craze, especially in cryptocurrency, where speculation is rife. But Enjin is an interesting long-term metaverse project, as the platform allows users to create and trade non-fungible tokens (NFTs). NFTs are unique digital collectibles where the ownership information is coded into the token, and they play an important role in the way people own things in these virtual worlds.

It is very early days for the metaverse and we don't yet know how it will unfold. But if it does take off, NFTs will be a core element. Since Enjin makes it easy for people to store and trade their NFTs no matter which metaverse or game they bought them in, it's a cryptocurrency I'll be paying attention to.

2. Livepeer (LPT)

Another term that's being bandied about is Web3 -- and this is another trend to pay attention to. Web3 is an umbrella term for a next generation decentralized internet that doesn't rely on three or four massive companies. There are a number of Web3 projects that decentralize the way our information is stored, shared, and monetized.

One that has performed well recently is Livepeer, a decentralized video streaming network. Network participants can earn LPT tokens by contributing their unused computer processing power. Livepeer uses this network of computers to do the intensive work of reformatting videos for different devices. This way, it doesn't need expensive infrastructure to provide a cheaper and more reliable way to stream videos.

3. Elrond (EGLD)

Elrond is one of several smart contract cryptocurrencies to grab investor attention this year. It is a faster, cheaper alternative to Ethereum and has already attracted a number of projects.

Elrond recently announced a $1.29 billion liquidity incentive program for its newly launched decentralized exchange, the Maiar DEX DeFi platform. This offers big rewards to investors who stake EGLD and MEX, the Maiar DEX utility and governance token on the platform. As various programmable blockchains jostle for position, this move makes Elrond a coin worth watching this month.

4. Chiliz (CHZ)

Chiliz is a cryptocurrency aimed at sports enthusiasts. Fans can get involved with their favorite teams by buying fan tokens through its socios.com platform. Token holders can vote on decisions like celebration songs, messages on the captain's armband, and other social media activities. They can also win rewards, such as VIP behind-the-scenes access, signed memorabilia, and meet-and-greet experiences.

One reason Chiliz is interesting right now is its new NFT offer. The first live in-game NFT drop took place during a soccer match between AC Milan and AS Roma. Live NFTs are created based on in-game action, and these limited edition NFTs are already proving popular.

Another reason to keep Chiliz in your sights is that it is well-positioned as crypto exchanges move into sports sponsorship. The Crypto.com Coin (CRO) jumped this month on news it had bought the naming rights to the Staples Center. On top of that, Binance recently launched a sports fan token platform.

Invest with caution

At The Ascent, we favor a buy-and-hold investment approach, which means we look for coins with good long-term potential. CoinMarketCap now puts the number of cryptocurrencies on the market at over 15,000. Sadly, many of those coins will fail. This is still a relatively new and untested market, and some experts warn the industry could collapse completely.

Cryptocurrency investing can produce extraordinary returns, but it also carries high risks. That's why it's important to only invest money you can afford to lose and to ensure your crypto assets are just a small part of your overall investment portfolio. Research coins carefully before you make any decisions.

Finally, the coins above are available from top cryptocurrency exchanges in the United States. There are a lot of exciting smaller coins that aren't easy to buy if you live in the United States. However, we tend to keep them off our list of coins to watch as it can be extra risky to trade on unregistered crypto platforms.

Buy and sell crypto on an expert picked exchange

There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.

To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.

About the AuthorEmma Newbery

Emma owns the English-language newspaper The Bogota Post. She began her editorial career at a financial website in the U.K. over 20 years ago and has been contributing to The Ascent since 2019.

Share This Page

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.

Emma Newbery owns Bitcoin, Ethereum, Solana, Avalanche, Cosmos, Cardano, Enjin, Livepeer, Elrond, Crypto.com Coin, and Chiliz.

The Motley Fool owns shares of and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.Featured Articles

Best Cryptocurrency Apps

Best Places to Buy Bitcoin

With the rapid growth and popularity of NFTs, there are many NFT coins available on the market. NFTs (non-fungible tokens) provide you ownership of any digital artwork, music, videos, collectibles in games, and sports collectibles. Depending on the marketplace, different coins are used on different platforms.

I've compiled a list of the top NFT crypto coins. 

ADVERTISEMENTDecentraland (MANA)

Price: $2.99289

Market cap: $5.44 billion

At the top of the NFT coins list, there's the MANA NFT coin. Users can use MANA NFT coins to make payments for purchases on the Decentraland Marketplace. Decentraland is powered by Ethereum, a leading blockchain. This Marketplace offers artworks, social games, apps, 3D art, and challenges. Users can purchase and sell digital game assets such as avatar wearables, land, estates, and more. The Decentraland Marketplace is governed by the DAO, so a smart contract governs the organization. MANA is one of the two NFT crypto coins used on Decentraland. MANA is considered an ERC-20 token which requires it to be burned to acquire the NFT ERC-721 LAND coins. 

Price: $0.48984

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Market cap: $2.9 billion

Chiliz, an NFT coin designed for sports and entertainment, was first generated in 2018 with 8.8BN. This digital currency is used to purchase Fan Tokens to make payments on Socios.com. These Fan Tokens are utility tokens that can be used to purchase VIP rewards, participate in voting polls, access AR-enabled features, forums, and exclusive promotions. It also enables users to compete in global leaderboards. Socios.com is currently the world’s biggest non-exchange blockchain apps.

CHZ is also listed on Coinbase and Binance, the world’s leading cryptocurrency exchanges. CHZ coins are used by fans that support popular sports teams from around the globe. Chiliz has partnered up with some of the most prominent sporting organizations in the world. Each sporting organization that uses the Chiliz technology only has a limited amount of fan tokens referred to as FTO or Fan Token Offering.  Every sporting organization using the Chiliz technology has a limited supply of fan tokens offered at an initial FTO (fan token offering). 

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Price: $2.55670

Market cap: $2.28 billion 

SAND is a utility token that is used to make payments on the blockchain-based Sandbox platform. Sandbox is a virtual world with a “play-to-earn model” where you can be both a gamer and a creator. Users can buy and sell and create and build digital game assets. Users can use NFTs to create digital voxel assets, upload them onto the Marketplace, and use the Game Maker to merge them into the game. They can also purchase land from the virtual Sandbox metaverse to increase its value by populating it with digital assets and games. The SAND coin is also used as the governance of the platform.

Price: $0.76262

Market cap: $1.4 billion

WAXP is the primary token used on WAX. WAX (Worldwide Asset eXchange ecosystem) is a purpose-built NFT blockchain. This means that WAX provides blockchain-based tools for brands to launch an NFT collection, including Marketplaces, dApps, exchanges, and games. WAX is a decentralized network of digital entertainment and games used to create, store, buy, and sell NFTs. WAX prides itself explicitly as a carbon-neutral blockchain. 

Price: $1.07161

Market cap: $460.6 million 

The Chromia Platform was first launched with 1 billion CHR tokens generated. According to Chromia, they will create no tokens in the future, so this is the limit of the token supply. CHR is the native token of Chromia, which is used between developers, users, and investors on the platform. CHR is also listed on several of the major cryptocurrency exchanges. CHR is used on the Chromia platform for staking on ecosystems and as payment for hosting fees. Chromia is an independent public blockchain focused on games and decentralized social networks.

Are you ready for the NFT revolution?

With so many NFT coins on the market, it's time to enter the Metaverse and start bidding on some items or auctioning them on various marketplaces. I hope this guide has helped you see which coins work best. Please note that the prices indicated as subject to change.

ADVERTISEMENTSummary AdvertisementRelated content Previous Post: « What is Big Time NFT game, and why is it so popular? CommentsShania said on November 20, 2021 at 10:53 am Reply

Came to see if ghacks launching coins. Not seen. Disappointed.

said on November 20, 2021 at 1:19 pm Reply

I have followed this blog since 2018.

But now it’s sadly fallen down the scamcoin rabbit hole so this will be the last post I read.

said on November 20, 2021 at 4:39 pm Reply

Exactly !

said on November 20, 2021 at 2:16 pm Reply

I most emphatically want to object to Ghacks being used lately as a channel to promote what are nothing but inflated investment bubbles and deceptive pyramid schemes.

This is awful.

said on November 20, 2021 at 4:40 pm Reply

Ghacks lately become more and more garbage/superficial.

Will find another site for my tech news.

said on November 20, 2021 at 7:47 pm Reply

I am seconding Henk his opinion. This once famous blog has been on a downward spiral since it was sold by its founder

said on November 20, 2021 at 4:57 pm Reply

I am somewhat amused and a bit bewildered by some of the negative comments these articles receive. I say this not because I’m a fan of the various NFT’s, or even the concept of them; but rather because they make me aware of what was completely unknown to me. For this alone there is some small value. As regards to the comment by Hank, these NFT’s are not a ponzi or a pyramid, but are actually more akin to the baseball cards we would collect and trade when I was a mere youth; at least as far as I can see. That they are non-fungible immediately means they cannot be money, because fungibility is a requirement for money-ness. Consider the dollar, Euro or Yen (Ponzi schemes in their own right, being inextinguishable debt instruments); each such bill being indistinguishable from another. Each dollar looks alike, and if someone says “I want that $20 bill over this one” you’d think he was a nut (or knew one was counterfeit). See, fungible, unlike an NFT which is supposed to be unique. Is it a waste of resources? I would think so, but others obviously disagree. I see it as another result of excessive money creation by Central Banks, and that this will all end very badly. Just my half-penny. ;-)

said on November 20, 2021 at 6:08 pm Reply

To those bemoaning the ‘decline’ of ghacks: just ignore the Shaun postings and its pretty much the same as it was. To me it seems possible that Shaun was added to the ghacks staff by the new owners (Softonic) to help them monetize the site. Hopefully that guess is wrong, but most of the Shaun articles read like advertisements. In this particular case, ghacks should be very embarrassed indeed that one of its contributors is actually telling us that “it’s time to enter the Metaverse and start bidding on some items.” Is this supposed to be investment advice? It certainly has nothing to do with technology.

In general, while I am aware and sympathetic to the fact that any business needs to make money to survive and compensate its owners and employees, I think it is reasonable to expect ads to be clearly labeled as such.

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AdvertisementPopular Posts Where to buy NFTs? Here are the top marketplaces 16 comments What crypto investors should know about the infrastructure bill signed by President Biden 15 comments CryptoGamification: What it is, how it works, and how it’s disrupting the gaming industry 14 comments What is Big Time NFT game, and why is it so popular? 10 comments Bitcoin’s Taproot Upgrade Enhances Privacy and Security 5 commentsAdvertisementRecently Updated What is Big Time NFT game, and why is it so popular? Published in: November 17, 2021 10:35 am | Updated in: November 17, 2021 10:35 am Experimenting the NFT Game – Global brands and the Metaverse Case Study: Crypto Collectibles Published in: November 17, 2021 10:26 am | Updated in: November 17, 2021 10:26 am What crypto investors should know about the infrastructure bill signed by President Biden Published in: November 17, 2021 9:19 am | Updated in: November 17, 2021 9:19 am Where to buy NFTs? Here are the top marketplaces Published in: November 15, 2021 7:18 pm | Updated in: November 16, 2021 11:06 am CryptoGamification: What it is, how it works, and how it’s disrupting the gaming industry Published in: November 16, 2021 8:48 am | Updated in: November 16, 2021 8:48 amAdvertisement

Meme cryptocurrency Floki Inu has scored a partnership with SSC Napoli, one of the most successful Italian professional football clubs of all time, according to an announcement made on Tuesday. As part of the deal, players will be wearing the logo and the website of the canine token on the back of their jerseys. Floki Inu will also be advertised on LED screens around the football pitch during all home games. Founded all the way back in 1926, SSC Napoli is the fifth biggest earner in the Serie A league. The club also boasts one of the biggest fan bases in Italy.RelatedElon Musk Mends Fences with CZ After Dogecoin-Related Twitter ScuffleSSC Napoli has already dabbled into the world of crypto. Last month, it announced a tie-up with popular engagement blockchain Chiliz to launch its own fan token. As reported by U.Today, Floki Inu also announced a deal with Kerala Blasters FC, the most followed club in India, earlier this November. 

This came after the Shiba Inu rival faced a severe backlash over its aggressive marketing blitz in London.

#Floki Inu#Cryptocurrency AdoptionAbout the authorAlex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

While bitcoin has been consolidating for a few days now, a number of other digital assets have seen solid seven-day gains. The two metaverse tokens sandbox and decentraland have skyrocketed over 170% during the last week. Crypto assets like loopring, crypto.com coin, and arweave have spiked in value more than 66% and up to 169% this week as well.

Sandbox, Decentraland, Loopring See Triple-Digit Gains This Week

The price of bitcoin (BTC) has consolidated above the $60K zone for a while now and market performance this week has been rather lackluster. While bitcoin (BTC) gained 0.5% during the last seven days, three top-ten cryptos saw double-digit gains this week.

The third-largest market in terms of overall valuation is held by binance coin (BNB), which is up 24.1% this past week and swapping for $610 per BNB. Solana (SOL) swapping for $235 per unit is up 20.9% this week. Additionally, polkadot (DOT) has climbed 21.9% and is currently changing hands for $51.29 per unit.

While binance coin, solana, and polkadot saw double-digit spikes this week, sandbox, decentraland, and loopring prices soared this week. Sandbox (SAND) spiked 175.3% and decentraland (MANA) jumped 172.9% in value. During the course of the week, loopring (LRC) lifted by 169.4%.

SAND is ranked number 78 out of the crypto economy’s 10,390 coins as the crypto asset has gained 8,039% year to date. Similarly, decentraland (MANA) has done extremely well during the last 12 months spiking 3,931% year to date. 12-month statistics for loopring (LRC) show the cryptocurrency is up 1,025% over the last 12 months.

Numerous Double-Digit Crypto Gainers — Bitcoin Dominance Close to Sinking Below 40%

Following those three-digit crypto gains, crypto.com coin (78.6%), arweave (66.2%), kadena (64.4%), holo (41.3%), chiliz (40.8%), basic attention token (39.4%), amp (39%), NEM (33.9%), omg network (31%), enjin coin (28.4%), and wonderland (25.1%) saw double-digit gains this past week.

The overall market capitalization of all 10,000+ coins in existence today is nearing $3 trillion at approximately $2.835 trillion on Friday, November 5. While there’s $152.28 billion in global trade volume, $83 billion of that volume is paired with stablecoins. Tether (USDT) commands $71.9 billion of today’s $83 billion aggregate total trade volume.

Out of the $2.835 trillion in value recorded on Friday, bitcoin’s (BTC) dominance is just above the 40% region with 40.6%. Ethereum, on the other hand, has 18.7% and numerous alternative crypto caps have increased dominance percentages.

What do you think about the past week’s crypto market action? What do you think about the triple and double-digit cryptocurrency gainers this week? Let us know what you think about this subject in the comments section below.

As Bitcoin Soared Past $68K, Plan B Says Floor Model Shows BTC Reaching '$100K This Year' MARKET UPDATES | 21 hours ago The Crypto Economy Soars Past $3 Trillion — Momentum of Value Grew Much Faster Than Apple's Market Valuation MARKET UPDATES | 2 days ago Tags in this storyalternative cryptos, amp, Arweave, basic attention token, Bitcoin (BTC), BTC, Chiliz, CRO, crypto.com coin, decentraland (MANA), Dominance, Enjin Coin, Ethereum (ETH), holo, kadena, Loopring, Market Update, Markets, Metaverse, metaverse tokens, omg network, Prices, Sandbox (SAND), triple digit gains, wonderland

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Cryptos are making headlines, and the rally in digital assets is showing no signs of slowing down. The significance of altcoins in the market is that it gives investors the hope that their invested crypto might become the next bitcoin or crypto king. The technological implications behind altcoins keep changing and improving based on the perceived shortcoming that is predicted in bitcoin. Several altcoins use the proof-of-stake consensus mechanism, which is both energy and time-efficient. In this article, we have listed the top 10 altcoins that are going to yield great returns this November.Polkadot (DOT)

Market cap: US$45.96 billion

Polkadot is an Ethereum-alternative with smart contract capabilities that process transactions quickly and cheaply. Polkadot stands out due to its interoperability, that is the ability to communicate with other blockchains, which is for the success of the crypto market as a whole. DOT is attention-worthy in November because it will begin its para-chain auctions. As there is room for a limited number of para-chains, projects need to bid to lease space on the network.

Market cap: US$9.328 billion

Stellar has recently partnered with one of the world’s largest money transfer companies, which has made it a prime attraction for investors in the month of November. Its blockchain technology makes money transfer and trading swift and efficient. It is designed in a way to facilitate global financial services to work together on a single network. Its software is open and decentralized, allowing efficient handling of millions of transactions every day.

TOP 10 CRYPTOCURRENCIES TO BUY FOR THE LONG HAUL IN NOVEMBERWILL SHIBA INU REACH ANOTHER ATH IN NOVEMBER? WE EXPLORETETHER DROPS, BITCOIN SURGES 1%: KNOW OTHER CRYPTOCURRENCY PRICES TODAYBinance Coin (BNB)

Market cap: US$107.81 billion

If users use the exchange’s native crypto network, then the transaction fees, which are already low get halved by 50%. Binance was primarily built for its use in the binance ecosystem, which provides exciting rebates to incentivize its use. It provides lightning-fast transactions, can be used to buy and sell a variety of cryptocurrencies, and is also safe and secure.

Market cap: US$3.325 billion

Chiliz was launched in 2018 and is possibly racing to become the top next crypto king. It focuses on monetization and fan engagement in the sports world. Chiliz.net is the world’s first tokenized sports exchange where fans can trade sports-branded tokens. It has partnered with global sporting institutions Arsenal, Juventus, and others to give users the chance to participate in the governance of their favorite sports brands.

Market cap: US$73.951 billion

Several cryptos emerged to compete for the ever-growing Ethereum, and SOL is one of them. Over the past couple of months, Solana has shown exponential growth to become the fifth-largest crypto in the global market. SOL supports a hybrid consensus architecture of proof-of-stake and proof-of-history protocols. Nowadays, SOL is being increasingly used for Defi apps and NFTs. leading to its amazing price rally.

Market cap: US$28.826 billion

Shiba Inu is a testament to its branding. In recent weeks, the crypto jumped to new highs, proving its worth and showing that even though it was born out of a meme, it has the potential of being considered as a long-term investment. Since its creation in August 2021, the altcoin’s price has risen exponentially. Investors are aggressively petitioning for Robinhood Markets (HOOD) to list SHIB on its platform.

Market cap: US$7.742 billion

FileCoin is a decentralized storage system that aims to store humanity’s most important information. The crypto leverages its decentralized nature to safeguard the integrity of data’s location, which makes it easily retrievable and difficult to sensor. Participating in the Filecoin network by mining and storing will allow users to earn more block rewards.

Market cap: US$18.93 billion

Litecoin was created back in 2011, and the crypto has a high degree of credibility relative to many of the newer altcoins. Charlie Lee essentially created Litecoin to be a better and faster alternative to bitcoin. LTC has a faster block generation rate, which allows for shorter transaction confirmation times. LTC has risen above 50% in 2021 and is one of the most popular altcoins in the market.

Market cap: US$21.681 billion

Avalanche is a layer one blockchain that functions as a platform for Defi applications and custom blockchain networks. It is one of the ether’s biggest rivals that is aiming to unseat ether from its throne. AVAX does that by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

Market cap: US$12.808 million

Bitcoin cash was created through a hard fork in the bitcoin blockchain back in 2017 in an attempt to address BTC’s transaction speed issues. The fork occurred when members of the BTC community could not agree on a potential change to the size of bitcoin blocks.

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AltcoinsShare This ArticleDo the sharing thingyAbout AuthorMore info about authorSayantani SanyalMore by Sayantani SanyalRelated Latest News ArticlesSimilar Posts From Latest News CategoryHow Cloud Technologies Can Help the Entertainment Industry Fight CyberattacksNovember 1, 2018Everything to know about Autonomous Things (AuT)September 13, 2020Palantir or Alteryx: Which Data Analytics Platform is Worth Investing?March 8, 2021

Real Vision founder and CEO Raoul Pal is highlighting four altcoin projects that he believes have major upside in the long run.

Pal tells his 711,000 Twitter followers that altcoins targeting unique social and virtual use cases are currently the most undervalued on the market.

‎‎‎ ‏‏‎

He points to the non-fungible token (NFT) platform Rally (RLY), tokenized sports exchange Chiliz (CHZ), and gaming metaverses The Sandbox (SAND) and Decentraland (MANA) as four of the most early and promising protocols in all of crypto.

He’s also a big believer in the NFT-focused company Dapper Labs.

“I obviously also own BTC and a whole bunch of other crypto (layers 1’s, DeFi and interoperability stuff). I think the most undervalued plays for the future (not now) are Rally, Chiliz, Dapper Labs, The Sandbox, Decentraland and other metaverse and social tokens…

I’m not shilling them as they are big-picture future plays. I am not looking for quick gains in those strategic, undervalued bets so don’t follow me in expecting a pump.”

According to Pal, Facebook’s recent rebranding to Meta is a fresh sign that a virtual transformation is underway that will introduce the masses to blockchain technology.

“Make no mistake – Meta/Facebook with Diem and the metaverse experience is a way to onboard billions of people into this world of distributed ledger technology…

This is what adoption looks like – it maybe not what you want, but it is what it is. Again, we have the choice to participate or not. This is very different to the physical world. Your opinion of Meta is just a matter of where you hang out.”

Pal also says now he holds “irresponsibly” long positions in Ethereum (ETH), which recently hit a new all-time high, that dwarf all of his other personal investments.

“Just so we are clear – I am more than irresponsibly long ETH right now. I now have leverage but via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more).

My view horizon for this part of the trade is 6 to 9 months.”

‎‎‎ ‏‏‎ Check Latest News Headlines  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Submit a Press ReleaseCrypto Livewire – Press ReleasesBinance Labs Participates in the Series C Funding of Mythical GamesNovember 5, 2021Creaton Aims To Become the Decentralized Alternative to Patreon and OnlyFansNovember 5, 2021Avoiding Cryptocurrency Scams – Squid Game Token and Other DeFi RisksNovember 4, 2021ICP Reboot Launches New ICPR Token After Forking Dfinity’s ICPNovember 2, 2021APENFT Foundation Launches $100 Million ‘Art Dream Fund’November 2, 2021Polygen Raises $2.3 Million for Its Truly Decentralized and Pro-Project LaunchpadNovember 2, 2021The Bitcoin Ecosystem Upgrades – Financial Applications Are Now Possible With MintlayerNovember 2, 2021Submit a Guest m$4,753.24$4,753.242.98%Binance 800446.5%SpotlightBitcoin To Challenge Gold as an Asset and Have Big Q4 Rally, According to On-Chain Analyst Willy WooNovember 1, 2021Bitcoin and Ethereum To Trigger ‘Liquidity Vacuum’ on Altcoins in Short Term: Crypto AnalystNovember 4, 2021Four Altcoins Including Binance Coin and Avalanche Primed To Hit the Stratosphere, According to Popular Crypto AnalystNovember 7, 2021On-Chain Data Analyst Willy Woo Says Ethereum Quietly Building Solid On-Chain StrengthNovember 2, 2021

The BTC bulls intercepted yesterday’s correction, and the asset has recovered more than $2,000 since the low. The situation with the altcoins is rather similar, with green dominating the market. Cardano continues its value appreciation by touching $2 for the first time in three months.

Bitcoin Recovers Over $2K

As reported yesterday, the primary cryptocurrency had just tapped a new near three-month high of $46,800 when the bears regained control over the market.

After the peak, the asset started somewhat rapidly losing value. This resulted in a $4,000 price drop, after which BTC dumped below $44,000 for the second time in less than a week.

However, the bulls stepped up at this point and reversed the cryptocurrency’s trajectory. Bitcoin went on a tear, reclaimed $44,000 and $45,000 in hours, and initiated another leg up. The latest one saw it reconquering $46,000.

Thus, BTC managed to add more roughly $2,500 since yesterday’s dip and currently stands above $46,000. Nevertheless, its dominance has lost some ground again as several altcoins have outperformed their leader.

Thanks for subscribing, you will get your first report in the next hours!Green Altcoin Market; ADA Touches $2

Most alternative coins also corrected yesterday, with ETH dropping to just over $3,000. However, the second-largest digital asset has bounced off nicely and currently trades above $3,200.

Binance Coin has reclaimed $400 after a 4% increase. Ripple (2.5%) stands above $1, while Dogecoin, Polkadot, Uniswap, Bitcoin Cash, and Litecoin are in the green as well.

Solana has spiked by more than 5% and sits at $43. Cardano is the most significant gainer from the top 10 tokens as it has pumped by 8.5%. Hours ago, ADA even briefly $2, which became its highest price line since mid-May.

Further gains come from The Graph (15%), Chiliz (13%), Waves (12%), Nano (12%), SushiSwap (11%), and VGX (10%).

As such, the cumulative market cap of all crypto assets has recovered approximately $100 billion since yesterday’s low and is well above $1.9 trillion now.

SPECIAL OFFER (Sponsored)Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information. Cryptocurrency charts by TradingView. Tags: Bitcoin (BTC) Price Cardano (ADA) Price

Real Vision founder and CEO Raoul Pal is highlighting four altcoin projects that he believes have major upside in the long run.

Pal tells his 711,000 Twitter followers that altcoins targeting unique social and virtual use cases are currently the most undervalued on the market.

‎‎‎ ‏‏‎

He points to the non-fungible token (NFT) platform Rally (RLY), tokenized sports exchange Chiliz (CHZ), and gaming metaverses The Sandbox (SAND) and Decentraland (MANA) as four of the most early and promising protocols in all of crypto.

He’s also a big believer in the NFT-focused company Dapper Labs.

“I obviously also own BTC and a whole bunch of other crypto (layers 1’s, DeFi and interoperability stuff). I think the most undervalued plays for the future (not now) are Rally, Chiliz, Dapper Labs, The Sandbox, Decentraland and other metaverse and social tokens…

I’m not shilling them as they are big-picture future plays. I am not looking for quick gains in those strategic, undervalued bets so don’t follow me in expecting a pump.”

According to Pal, Facebook’s recent rebranding to Meta is a fresh sign that a virtual transformation is underway that will introduce the masses to blockchain technology.

“Make no mistake – Meta/Facebook with Diem and the metaverse experience is a way to onboard billions of people into this world of distributed ledger technology…

This is what adoption looks like – it maybe not what you want, but it is what it is. Again, we have the choice to participate or not. This is very different to the physical world. Your opinion of Meta is just a matter of where you hang out.”

Pal also says now he holds “irresponsibly” long positions in Ethereum (ETH), which recently hit a new all-time high, that dwarf all of his other personal investments.

“Just so we are clear – I am more than irresponsibly long ETH right now. I now have leverage but via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more).

My view horizon for this part of the trade is 6 to 9 months.”

‎‎‎ ‏‏‎ Check Latest News Headlines  Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/solarseven/Andy Chipus/Sensvector/pikepicture

Submit a Press ReleaseCrypto Livewire – Press ReleasesBinance Labs Participates in the Series C Funding of Mythical GamesNovember 5, 2021Creaton Aims To Become the Decentralized Alternative to Patreon and OnlyFansNovember 5, 2021Avoiding Cryptocurrency Scams – Squid Game Token and Other DeFi RisksNovember 4, 2021ICP Reboot Launches New ICPR Token After Forking Dfinity’s ICPNovember 2, 2021APENFT Foundation Launches $100 Million ‘Art Dream Fund’November 2, 2021Polygen Raises $2.3 Million for Its Truly Decentralized and Pro-Project LaunchpadNovember 2, 2021The Bitcoin Ecosystem Upgrades – Financial Applications Are Now Possible With MintlayerNovember 2, 2021Submit a Guest m$4,753.24$4,753.242.98%Binance 800446.5%SpotlightBitcoin To Challenge Gold as an Asset and Have Big Q4 Rally, According to On-Chain Analyst Willy WooNovember 1, 2021Bitcoin and Ethereum To Trigger ‘Liquidity Vacuum’ on Altcoins in Short Term: Crypto AnalystNovember 4, 2021Four Altcoins Including Binance Coin and Avalanche Primed To Hit the Stratosphere, According to Popular Crypto AnalystNovember 7, 2021On-Chain Data Analyst Willy Woo Says Ethereum Quietly Building Solid On-Chain StrengthNovember 2, 2021

After another failure at $63,000, bitcoin has headed south and is close to testing $60,000 once more. Most alternative coins have also bled out in the past 24 hours, including a substantial drop for Dogecoin and Shiba Inu.

Will BTC Retest $60K?

The primary cryptocurrency went through a roller-coaster on Thursday when it plummeted from $61,500 to $56,500 in minutes. This came after recovering from the latest sub-$60,000 price slump.

However, the asset bounced off just as rapidly and went above $62,000 minutes after. Moreover, it kept climbing on Friday and Saturday morning to a high of $63,000.

However, the bears stepped up at this moment and started to push the cryptocurrency south. In the following hours, BTC dropped to $61,000 before it initiated another leg up that was halted at $62,500.

The subsequent rejection brought more pain for its price as BTC lost roughly $2,000 since then. Bitcoin currently stands at just over $60,500 and could dip to $60,000 for another retest.

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Its market capitalization has dropped to just under $1.150 trillion, while the dominance over the altcoins is at 44%.

Altcoins in Red: More Losses for Meme Coins

Ethereum marked two consecutive all-time high records in the past few days, with the latest coming at $4,460 (on Bitstamp). However, the second-largest crypto also began its gradual retracement and is down by $200 since then.

Binance Coin tapped a multi-month high above $530, but a minor decrease has driven BNB to $520.

More losses are evident from Cardano (-2%), Solana (-4%), Polkadot (-3%), Terra (-4.5%), Avalanche (-1.5%), and Chainlink (-2.5%), while Ripple is slightly in the green.

The two largest meme coins – Dogecoin and Shiba Inu – have registered the most significant price losses in a day. DOGE is down by 7%, while SHIB has slumped by 11%. However, CoinMarketCap still shows that SHIB is ahead of DOGE in terms of total market cap.

The metaverse mania accelerated by Mark Zuckerburg earlier this week continues to bring massive price gains for some representatives. Decentraland has skyrocketed by 140% to $3.40, while The SandBox is up by 70% to nearly $2.

Even more impressive surges come from Ankr, Horizen, Chiliz, Basic Attention Token, Audius, Enjin Coin, Zilliqa, and Zcash.

As such, the cryptocurrency market capitalization has remained at around $2.6 trillion, despite the retracements from the larger-cap alts.

SPECIAL OFFER (Sponsored)Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information. Cryptocurrency charts by TradingView. Tags: Bitcoin (BTC) Price Shiba Inu (SHIB)

Popular crypto strategist Kaleo says that one red-hot altcoin is likely to keep carrying on upward, while also giving some predictions on two more digital assets.

The pseudonymous trader tells his 360,000 followers that smart contract platform Solana’s (SOL) recent bullish momentum likely isn’t over as he expects the Ethereum competitor to launch a new rally.

“SOL probably keeps running up to HTF [high timeframe] resistance just shy of $100.”

The strategist also says that Solana appears to be setting itself up for a huge breakout in its Bitcoin pair (SOL/BTC).

“SOL/BTC

Break above this resistance, and sh*t is about to get really crazy.”

Kaleo also says that Chiliz (CHZ), the native token on sports-focused fintech platform socio.com, is gearing up to take out the diagonal resistance that has kept the price of the altcoin depreciated since March.

“Keeping an eye on CHZ here. NFT [non-fungible tokens] tokens are starting to pick up steam again, and I wouldn’t be surprised to see Chiliz run it back to the spring highs when it’s able to break out of the HTF resistance here.”

The other altcoin the trader has his eye on is Raydium (RAY), an automated market maker (AMM) protocol built on the Solana blockchain. According to Kaleo, RAY is jostling to ignite a 100% surge from its current value of $7.23.

“RAY

Solana ecosystem projects look ready to make another leg higher. I decided I don’t have enough exposure – so I went ahead and snagged a bag of RAY. Looking for a move back to double digits to resistance from the May 19th breakdown.”

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Featured Image: Shutterstock/Roman3dArt

As part of the sponsorship deal with S.S.C. Napoli, the Floki Inu logo will be featured on the back of the football team’s jersey and across LED signs at the team’s home stadium.

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The team behind the Floki Inu (FLOKI) token — inspired by Elon Musk’s pet dog of the same name — has signed a sponsorship deal with Italian football giant S.S.C. Napoli.

S.S.C Napoli was founded in 1926 and is one of the most popular professional teams in Italy. The historic club won its first Serie A title in 1987 led by the late global football icon Diego Maradona and is currently sitting in first place in the league for the 2021–2022 season.

According to a Tuesday announcement from S.S.C. Napoli, the Floki Inu logo depicting a Shiba Inu dog wearing a viking helmet will be displayed on the back of Napoli’s jerseys and across LED signs around the team’s home stadium for the remainder of the current season.

Avid Napoli supporter and Cointelegraph CEO Jay Cassano said that he was “excited to see the club getting more involved with the industry” and emphasized the significance of crypto partnerships in professional sports as a path to mainstream adoption:

“We’re seeing crypto companies and projects target sports wherever they can, from the NBA to European football leagues. Presumably, this is in search of wider adoption. Leagues like Serie A and La Liga have been much more permissive toward crypto sponsorships than, for example, the NFL.”

The Floki Inu team added Napoli to its list of partnered football clubs, which includes the Kerala Blasters from the Indian Super League and the Spanish La Liga’s Cádiz. Floki Inu appears to be following a similar route to top crypto exchange FTX, which has aggressively sought out numerous mainstream sporting partnerships in 2021.

Napoli has not revealed whether it is a multi-year sponsorship deal or how much Floki Inu spent on the partnership. Floki Inu’s marketing department noted in the announcement that the move was a part of the project’s ambitions to be the “most known and most used cryptocurrency in the world.”

The Floki team has been working on a “major marketing push” since late September, with the project stating that it had allocated $1.5 million toward advertising campaigns. Floki Inu has targeted London as a key location with its branding featured across transport services in the city, but the advertisements have proven controversial and attracted the attention of the United Kingdom’s advertising watchdog, the Advertising Standards Authority (ASA).

According to a report from the BBC on Friday, the ASA said it was “reviewing a broad body of ads in this sector” to assess whether they break advertising rules in relation to complex jargon and misleading information. However, the Floki Inu team said its ads were “legally cleared” and contained disclaimers regarding the volatility of crypto assets.

Related: Meme tokens and dogcoins flood the market as price wars heat up

Earlier this month, the Floki Inu team also signed an endorsement deal with boxing star and two-time world heavyweight champion Tyson Fury. As part of the promo deal, Fury will feature in the project’s upcoming play-to-earn NFT game dubbed Valhalla.

The Ethereum-based token was launched in June earlier this year, and Etherscan shows that there are around 49,461 FLOKI hodlers, with the fully diluted market capitalization standing at $1.8 billion.

Over the past 24 hours, the price of FLOKI has gained around 12% to sit at $0.00018840 at the time of writing, with trading volume hitting around $25.2 million within that time frame, according to CoinGecko.

#Business #Football #Partnership #Adoption #Sport #Elon Musk Related News Blockchain to Disrupt Music Industry and Make It Change Tune This crypto portfolio management platform allows traders to monitor all assets from different platforms at the same time Southeast Asian financial institutions turn to the Ethereum blockchain Deterring adoption? Balancing security and innovation in crypto FTX buys Super Bowl ad slot to promote crypto to a TV audience of 92M Chiliz (CHZ) gains 170% after launching live in-game NFTs for fan token holders

Photo Credit: Twitter/ @socios

Tennis will see fan tokens for the first time with $DAVIS

Highlights Davis Cup will be the first tennis brand to partner with Socios.com $DAVIS Fan Tokens will allow fans access to exclusive content 2021 Davis Cup Finals set to begin November 25

International Tennis Federation and Davis Cup organisers Kosmos Tennis have agreed to pen an agreement with blockchain provider Chiliz to launch an official Davis Cup fan token on Socios.com — a platform known for launching fan tokens for football clubs. The fan token in question, named '$DAVIS Fan Token,' will allow fans of the prestigious tournament an opportunity to gain access to a whole bunch of contests and interactive content around a competition that is widely likened to a World Cup, but for tennis.

As per a report by Nairametrics, these fan-specific engagement opportunities for $DAVIS Fan Token holders will include the chance to have a say and a vote on a number of initiatives by taking part in interactive polls that will run on the Socios.com app. Socios.com as a platform boasts 1.2 million users across the world and identifies itself as a direct-to-consumer platform that employs blockchain technology to provide the world's leading sporting organisations with the tools to engage with and monetise their global fanbases.

Here are 5 NFT Games to Play and Earn Crypto Rewards

????A smashing announcement. We are thrilled to announce that the @DavisCup has chosen https://t.co/2FROhSNgw8 as its official Fan Engagement & Rewards platform.$DAVIS ⚡️ $CHZ pic.twitter.com/TRBBpLMLLA

— Socios.com (@socios) October 13, 2021

It isn't clear yet how many tokens will be offered for sale and how much each will be priced. What we do know though is that this year's edition of the Davis Cup Finals will take place from November 25 to December 5 with venues in three different cities — Madrid, Innsbruck, and Turin. Participants will feature 18 countries divided into six groups of three.

Kosmos Tennis CEO Enric Rojas explained, "The agreement with Socios.com and the launch of the Davis Tokens will allow us to improve the experience of our fans so that they can really feel part of the event. Fans play a fundamental role in Davis and now that travelling the world due to COVID is still complicated, the Fan Token will allow fans to feel part of the event."

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Davis Cup, Fan Token, Blockchain, Chiliz, Socios, NFT, Tennis, Davis Cup Fan NFT, Davis Cup Fan Token, Cryptocurrency Shomik Sen Bhattacharjee Email Shomik Sen Bhattacharjee Shomik is a senior sub-editor at Gadgets 360. As someone who's screened the consumer tech space for the past four years, he's now shifted focus to the crypto-verse. When not converting currency values in his head, you may find him in an intense five-a-side football match or grinding out the newest Destiny 2 weekly challenge on his Xbox. You can reach him for tips or queries at ShomikB@ndtv.com. More Amazon Great Indian Festival 2021: Popular Phone Deals During the Sale Battlegrounds Mobile India Update 1.6.5 to Bring Runic Power, Virus Infection - Halloween Modes, More Crypto-Tennis: Davis Cup Organisers Team Up With Blockchain Provider Chiliz to Launch Fan Tokens Comment Share on Facebook Tweet Snapchat Share Reddit Email Comment

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The global crypto market cap did not observe high volatility over the past day. The bulls seemed to control the recent momentum after the correction phase. Consequently, Bitcoin Cash and Tron displayed a bullish momentum. 

However, for MATIC technicals continued to hint towards possible ease in bullish momentum in the near term. 

TradingView, BCH/USDT

Since the inception of the month, BCH bulls displayed their vigor as the price rallied by 38% to hit its six-week high on 21 October. After which, the price-action witnessed a blip as it fell to its 26-day low at $534.2.

Although bears exerted pressure, bulls continued to push, as confirmed by the 20-SMA (white). BCH bears have shown resistance at the $653-mark in the near term. The altcoin traded at $593.2, after noting a nearly 1% gain over the past day. 

The Relative Strength Index (RSI) saw a surge in the last 24 hours, depicting an increasing buying strength. Also, the lower trendline marked higher lows, whereas the RSI trendline marked lower lows, visibly displaying a bullish divergence.

Additionally, the MACD and the Awesome Oscillator (AO) flashed green signal bars, affirming the previous reading. However, the ADX stood at the 23-mark, indicating a slightly weak directional trend.

Polygon (MATIC)

TradingView, MATIC/USDT

Since 26 September, MATIC price action undertook a bullish trajectory as the price bounced between the two parallel lines heading north. The digital currency noted a monstrous 73.39% and 19.11% monthly and weekly ROI, respectively.

Consequently, MATIC reached its five-month high on 29 October and bounced back between the parallel lines following the trend. However, the altcoin saw a 5.15% decline in 24 hours as technicals hinted at decreasing buying strength in the near term. At press time, MATIC traded at $1.942. 

The RSI plunged by 10 points and headed towards the midline, indicating decreasing buying strength in the near term. Moreover, the DMI depicted buying strength but pointed at possible ease in bullish momentum as the DI line looked downwards. Additionally, MACD flashed red signals and seemed to head south in the near term.

TradingView, TRX/USDT

The altcoin traded at $0.10348 and noted a 7.78% gain on its charts in the last 24 hours. Over the past month, TRX fluctuated in an uptrend, as displayed by the higher highs marked on its trendline. However, TRX bears exerted constant pressure and found support at $0.08681.

The token saw a pullback on 27 October as its price hit a one-month low. Over the past day, bulls demonstrated immense power as the price surged.

The RSI stood near the overbought territory after surging by 25 points over the past day. Furthermore, MACD and AO flashed green signals and confirmed the previous readings. However, the ADX line stood at the 23-mark, indicating a slightly weak directional trend.

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Assessing Polygon’s lack of momentum and why it isn’t completely at fault

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It is unusual for an organization such as a Premier League football club to publicly announce a partnership with a relatively unknown company in the crypto space and then quickly back out without explanation.

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English Premier League football club Manchester City has suspended a partnership with a startup crypto firm after seemingly not doing its due diligence prior to signing.

According to Daily Mail reporter Jack Gaughan, Manchester City is currently “conducting further enquiries” regarding 3key Technologies, the crypto firm with which the club inked a deal on Nov. 12. At the time, the football club said it would be collaborating with 3key to raise awareness of its reported decentralized finance, or DeFi, trading analysis products as a regional partner.

Manchester City suspend partnership with "3Key", a start-up cryptocurrency firm whose executives do not seem to appear on internet searches. Partnership was announced last week. pic.twitter.com/Hi02Z2IxAR

— Jack Gaughan (@Jack_Gaughan) November 19, 2021

However, Manchester City is reportedly backing away from the agreement after online searches as reported by The Guardian revealed that the company’s executives had little if any digital footprints, with the information given seemingly unverifiable. Cointelegraph was unable to locate contact information for Ryan Hodder, named as 3key’s chief marketing officer in the announcement.

“The closest anyone has come to verified information is a photo of a man with a ginger beard in a checked suit who may or may not be 3Key’s ‘chief growth strategist’ Jacob Caine,” said Guardian reporter Paul MacInnes.

Though it is possible that 3key is a company providing legitimate services in the DeFi space and its higher-ups are simply choosing to keep a low profile online, the lack of available information is suspect. Many high-profile figures were duped into promoting scam token projects during the 2018 ICO boom including actor Steven Seagal and boxing promoter Floyd Mayweather. However, it is unusual for an organization such as a Premier League football club to publicly announce a partnership with a relatively unknown company in the crypto space and then quickly back out without explanation.

Related: Animoca Brands signs up Manchester City for games and collectibles

Manchester City is reportedly the sixth most valuable football club in the world, with an estimated value of $4 billion, according to Forbes. Outside of the 3key agreement, the club also announced in March it had partnered with fan engagement platform Socios.com to launch a fan token on the Chiliz blockchain.

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