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Cryptocurrency

Paris Saint-Germain Fan Crypto gains over 50% in a day

Paris Saint-Germain Fan Token traded at $25.18 with a daily trading volume of $225,495,474.

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Paris Saint-Germain Fan Crypto gains over 50% in a day

Investors in Paris Saint-Germain Fan Crypto-asset are now smiling to the bank amid recent sell-offs seen in the crypto market.

For the day, the fast-rising crypto has returned over 50% to its investors and in 30 days over 150%.

READ: Ripple’s XRP drops 14% over lawsuit from U.S Securities and Exchange Commission

What you must know

At the time of writing this report, Paris Saint-Germain Fan Token traded at $25.18 with a daily trading volume of $225,495,474. PSG price is up 56.9% in the last 24 hours. It has a circulating supply of 0 PSG coins and a max supply of 20 Million.

  • Binance is the current most active market trading it, in order to explore addresses and transactions.
  • Football clubs are now using blockchain to facilitate better experiences for their fans.
  • Football is by far the most popular game worldwide. The last football World Cup tournament held in Russia 2018, had over 3.5 billion individuals watching the matches. This shows that about half of the world’s population is keen on football.

READ: This is why Dangote may drop plans to buy Arsenal FC

READ: Paris Club: Debt payments suspended for Chad, Ethiopia, Pakistan and DRC in $1.1 billion waiver

What to expect

Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage on this wider audience via collaboration with the industry’s global brands.

READ: 50% of top 500 companies will hold Bitcoin by 2021

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What you should know

  • Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.
  • Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

READ: Bitcoin halving: Here is what experts think comes next

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Altcoins giving investors weekly returns of at least 100%

4 cryptos are outperforming Bitcoin by a long distance, having registered weekly gains of more than 100% at press time.

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The world’s most popular crypto, Bitcoin is presently trading above the $55,000 price levels amid profit-taking seen across market spectrums that currently leaves the world’s flagship crypto with weekly gains of about just 3.71%.

Still, 4 cryptos are outperforming Bitcoin by a long distance, having registered weekly gains of at least more than 100% at the time of drafting this report.

The leader of the pack is Telcoin which rallied by 291% in the last 7 days. The fast-rising crypto is an Ethereum-based decentralized crypto created about 4 years ago in Singapore to be the bridge between blockchain, cryptos, and the telecom industry.

The crypto project was created solely to partner with leading American Telcom firms in curbing the obstacle that is prevalent between billing platforms and mobile money, by providing users with very fast, cheap remittances fees when compared to mobile money platforms.

READ: XRP surges by 150% in 7 days as Ripple posts early victories against SEC

The crypto asset is an ERC-20 token meaning it thrives on the Ethereum Blockchain.

Ethereum Classic comes in second with a weekly gain of 166%. The five-year-old crypto is a hard fork of Ethereum, solely designed as a smart contract network, with the capability of supporting decentralized applications. Its native token is ETC.

The crypto asset gained its relevance for preserving the integrity of the existing Ethereum blockchain after a major hacking event that led to millions of Ethers stolen.

OKB comes in third on the account that it rallied by 117% over the past week, OKB is a fast-rising altcoin that operates on the Ethereum blockchain. The crypto asset currently has a supply of 300,000,000 with 60,000,000 in circulation.

READ: Billions of dollars lost in Crypto market, as over 500,000 investors get wrecked

The utility crypto is issued by the OK Blockchain Foundation with the major objective of connecting prospective crypto projects to OKEx users as well as investors.

The fourth is Dogecoin with a weekly gain of 102% at press time. The popular crypto asset facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

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Cryptocurrency

Unknown whale moves $440 million worth of Bitcoin as institutional buying drops

Data retrieved from Btc Blockbot revealed the wealthy entity moved 7,970 BTC worth $440 million in block 681,99.

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BTC, Bitcoin, crypto, Unknown entity transfers $166 million worth of Bitcoins

Wealthy investors have increased their transactional volume just as a Bitcoin whale moved about $440 million some hours ago. The world’s most popular crypto asset hovers around $54,500.

Data retrieved from Btc Blockbot revealed the wealthy entity moved 7,970 BTC worth $440 million in block 681,99.

READ: 1 Bitcoin will buy you a house in Nigeria’s rich suburb

In the past few weeks, the flagship crypto has relatively experienced a significant amount of selling pressure after touching $58, 0000 and plummeting as low as $47,000, suggesting that institutional inflow on the world’s most popular crypto asset seems to be faltering.

Adding credence to the weakening buying spree is data retrieved from Glassnode postulating that the Bitcoin number of Addresses holding 10+ Coins just reached a 4-year low of 147,046

The previous 4-year low of 147,094 was observed on 03 May 2021.

READ: Dogecoin breaks new high, far more valuable than Nigerian Stock Market

At the time of writing Bitcoin traded at $54,465.57 on the FTX exchange with a daily trading volume of about $70 billion. For the week, the flagship crypto asset is up by just 0.35% and it remains by far the most valuable crypto by market value with a valuation of $1.018 trillion.

Recent data reveal Bitcoins older than 6-months have not seen a meaningful increase in spending since the correction back in February, meaning long-term holders have paused their buying actions momentarily.

Previous instances of similar spending behaviour were observed during the December 2020 consolidation, just before breaking to a new all-time high, and during the first bull market correction in January.

What you must know

At the flagship crypto market, traders or investors who hold large amounts of bitcoins are typically referred to as whales.

This means that a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.

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Usually, as these whales accumulate the flagship crypto assets, Bitcoin’s circulating supply reduces, and this can weaken any bearish trend the crypto asset finds itself in.

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