🦎🚀 Perpetuals for predictions? 🤔

By rahmat hidayat

Thursday, July 25, 2024

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox! Quite the tumultuous Thursday, Geckos!     With net outflows already being recorded on the 2nd day of the spot ETH ETFs, what does the future hold?    In today's news:   Care to double down on your predictions? 🔮 A blast from the past ☄️   Read on! 24h Hot Searches Worldwide 🔥 Toncoin        (-5.0%) Avail              (-8.7%) Zano           (+20.3%) Qubic            (-9.2%) DOP             (-16.4%) LayerZero    (-6.0%) Ethereum     (-8.5%) How High Will Bitcoin Go?    In our survey, 44% of participants indicated that they expect Bitcoin to exceed $100,000 this cycle.   This suggests that the market has relatively high expectations for Bitcoin, even after it reached a new all-time high pre-Halving. Read more Care to double down on your predictions? 🔮   Perpetuals trading platform D8X is looking to spice up the prediction markets space with a little bit of leverage.   Speaking to CoinDesk, the feature will function similarly to existing perpetuals markets, where spot prices from Polymarket are obtained through data oracles.   Co-founder Caspar Sauter believes that implementing leverage for prediction markets is crucial for enabling higher capital efficiency.   On the flip side, leveraged trades on prediction markets can also be more effectively used to hedge against unwanted events.   Sauter adds that the maximum leverage available will depend on the market environment and the underlying prediction markets.   While no specific timeline has been announced yet, the platform plans to release the product in the latter part of Q3 2024.   Editor's Note: It should be noted that current prediction market bets function similarly to binary options. Options are inherently leveraged products themselves, so adding even more on top of an already risky product like prediction markets dramatically increase the risk of potential losses. As always, these sorts of products require a great deal of due diligence and should only be accessed by those who are able, willing and possess the right knowledge.   A blockchain address and wallet are easily confused terms. Find out what they are and their differences in this video. Watch now A blast from the past ☄️   Famous for retro games such as Pong and Adventure, renowned publisher Atari is now looking to put Asteroids on-chain. The game will be remade on top of the Base Layer-2, along with other titles in the near future, to create a fully on-chain arcade where high scores are recorded on the network. To start playing, users will have to mint an NFT access pass for 0.0015 ETH (~$5), where they can get the chance to compete against other players on a global leaderboard as part of Base's On-Chain Summer campaign. The top three players for each week will win a copy of Asteroids: Recharged on Steam, $35 worth of credit for Atari merchandise, and an Atari 2600+ console. On the other hand, the top three overall winners for the event will each receive Atari gift cards, potentially worth up to $1000, awarded to the player with the highest score.     Elixir is powering liquidity across orderbook exchanges, allowing users to deploy liquidity to trading pairs and DEXs to earn rewards. Find out how to take part in Elixir's Apothecary initiative, where users can earn potions to qualify for future rewards. Learn more In Other News...   The Mt Gox Saga Concludes. Kraken and Bitstamp are returning Bitcoin to customers of Mt. Gox, 10 years after the infamous hack.   Proof-of-Proof. Bitcoin pioneer Jeff Garzik has launched the Hemi Network, a Layer-2 solution that uses a Proof-of-Proof consensus mechanism and is interoperable with Ethereum.   Increasing Accessibility. Polymarket has teamed up with MoonPay to enhance accessibility to its prediction markets by adding credit and debit card support, although U.S. users remain blocked.   Play to Airdrop. The Machines Arena, an Overwatch-style hero shooter viewed from an overhead perspective, is launching a play-to-airdrop campaign on the Ethereum scaling network Ronin.   Tokenizing Agricultural Goods. The agricultural real-world assets platform AgriDex has completed its first trade on Solana, facilitating the shipment of over 200 olive oil bottles and numerous wine cases from South Africa to London.   Outflows on Day 2. Spot Ethereum ETFs experienced $113 million in outflows on the second day of their launch. 🦎Tell us what you think!   We've just revamped our newsletter with a new and fresh format!   Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on! Let us know

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