Kiba Inu is not just a meme coin, as a first glance may lead the reader to suspect. Instead, it is a full-service blockchain project that features a decentralised exchange, a governance token (KIBA), and various other tools found within its network.

The project claims that it is committed to restoring the integrity of meme coins by building projects that add value to the ecosystem. 

This is a lofty idea, as several meme coins which spawned after the initial success of Shiba Inu were mere pump-and-dump projects that only made money for the creators and not for members of the ecosystem at large.

This project has an opportunity to benefit from some of the recent dysfunction in the crypto market created by the [collapse of centralised exchange FTX](/news/article/ftx-collapse-blockfi-suspend-withdrawals) and other lending projects that had hefty leveraged exposure to the exchange. Some have argued that the collapse of FTX has damaged confidence in centralised crypto exchanges. But this event inadvertently created a window of new opportunities for decentralised exchanges to grow their market. This is an opportunity that the Kiba Inu project can develop if it strikes the right chord with the market.

## Kiba Inu's story so far

As with several other meme coins, Kiba Inu debuted on several centralised and decentralised exchanges to much fanfare in May 2022. However, the crypto market was already in a full downtrend, and aside from the considerable surge seen on the listing day, the price of the token hit rock bottom soon after.

So hard was its fall that it met lows that took out listing lows. After hitting its lowest point in December, a month in which the token shed a further 33% of its November 2022 value, the token has benefitted from the brief resurgence seen in January 2023. The 75% gain seen so far has eclipsed the December 2022 highs, and the technical pattern on the long-term charts suggests that 2023 could be the year a gradual recovery starts.

## Where can you buy Kiba Inu tokens?

KIBA tokens are available on several centralised and decentralised exchanges. Decentralised exchanges that offer KIBA as a swap-enabled token include PancakeSwap, UniSwap, and Kiba Inu's DEX, Kiba Swap. You may also purchase the tokens using fiat currency on Flooz Trade or Fiatom. Gate.io, Hotbit, Digifinex, and Bitrue are centralised exchanges where you can purchase KIBA using Bitcoin, Ethereum, and stablecoins such as USDT or USDC. The Kiba Swap exchange is the primary decentralised exchange for obtaining the KIBA tokens.

## What activities are performed on Kiba Swap?

[Kiba Swap](https://kibainu.com/#/swap) is a decentralised exchange (DEX) that features a traditional swap exchange, a trade portal that offers traders the chance to trade with limit prices, and a cross-chain bridge that allows the transfer of tokens between different blockchain networks. Kiba Swap is a non-custodial exchange, meaning that users keep their tokens in wallets that are not warehoused on the exchange itself.

a) Swap portal
This traditional DEX allows owners of specific tokens to swap them for other tokens that share the same network. The standard base tokens on Kiba Swap are KIBA, Ethereum, USDC, USDT, DAI, WBTC, and WETH. These can be swapped with 1inch, AAVE, APE, AUDIO, AXS, BAND, CRV (Curve DAO), GALA, KNC, and other external tokens. You can also add external tokens by managing your token lists.

b) Trade portal
Kiba Swap's limit order trade portal offers crypto owners the opportunity to buy or sell their favourite cryptos at beneficial prices that are different from the market price. For instance, those selling their tokens can choose to do so at a higher price than the market price to get a better deal and potentially make more profits. Those who want to buy tokens can set lower prices for their entries to secure better pricing.

c) Crosschain bridge
What can you do with the cross-chain bridge? Various stablecoins (USDC, USDT, LUSD, DAI), FRAX, ETH, and STG can be moved from their parent networks to other networks. Featured networks include Ethereum, Arbitrum, Fantom, Avalanche, Polygon, and the Binance Chain. Kiba Swap currently does not have an active liquidity pool for crypto lending.

## Conclusion

The performance of the KIBA token in 2023 and beyond will be tied directly to the degree of success the Kiba Inu team has in onboarding new clients who will be active users of its Kiba Swap decentralised exchange.

The recent gains seen in the KIBA/USDT and other KIBA pairs are more of a market response to Bitcoin's latest move toward the $22,000 mark. If the KIBA token is to recover its 2022 listing highs, Kiba Swap needs to capture a significant chunk of the DEX market share currently controlled by Uniswap and PancakeSwap.


Kiba Inu: The Long Road to Recovery 

Dogelon Mars is back in the news. With a current market capitalization of $183.38 million and a circulating supply of 549,040 billion tokens, [Dogelon Mars](https://twitter.com/dogelonmars?lang=en) is ranked number 152 in the list of cryptos by market cap. It is one of the Dogecoin-themed meme coins.

Dogecoin received some promotion from Elon Musk via a series of tweets in December 2019, leading it to become one of the most sought-after altcoins that produced a massive price appreciation.

Subsequently, various altcoins were created, either bearing semblance to the symbol of Dogecoin (such as Shiba Inu, the name of the dog features as Dogecoin's logo), or by having some labelling with Elon Musk's name. These meme coins found success for a while, but the crypto market downturn has erased the meme effect and left the coins to find their feet on their own value.

## Dogelon: the story so far

In April 2022, a petition was started on Change.org urging Binance to list Dogelon Mars on its exchange. At that time, it was approaching a $1 billion market cap and seeking 25,000 signatures. In October 2022, rumours of a potential listing by Binance surfaced, and the token shot up 4,194%. However, this listing did not materialise. In the following months, Dogelon Mars gave up all these gains. This is not the first time rumours of a Binance listing have dogged the token. Some of these rumours date back to 2019, but have never resulted in anything substantial.

The gains seen in the ELON token this January are not linked to any listing rumours. They have come as the entire market witnessed a slight push to the upside. The recent market gains result from a shift towards risky assets after data from the US indicated a cooling of consumer inflation. The drop in the US Consumer Price Index has led to bets that the Federal Reserve would force down the size of future rate hikes, with 25 basis points being the preferred number.

This is exerting a downward pull on Tether (USDT) and other USD-pegged stablecoins, allowing tokens like ELON to enjoy a level of price appreciation. While the 19% gains seen this January is a far cry from some of its earlier improvements, the Dogelon Mars community seems excited by what they perceive as a renewed push by the meme coin to get back some of its old shine. The fact that 18,448 people have signed the Change.org petition as of writing is a testament that there are still those who want to pressure Binance to list the ELON token.

The push to get listed on Binance came when there was no clear-cut information about its tokenomics and what value the project would add to the crypto ecosystem. At the time, it seemed that everything that Binance touched turned to gold. 

Even tokens that were floundering on other exchanges got a shot in the arm that turned them into a speculator's delight. It was clear then that the promoters of the Dogelon Mars petition were out to cash out big from every token that had some kind of association with Elon Musk or Dogecoin, either by name or otherwise. That attempt may have worked in October 2022, but it is clear that it has failed miserably in the long run.

The deepening winter in the crypto market and the fallout of the collapse of FTX, Celsius, AAX, and several crypto exchanges and lending platforms means it will be harder for tokens to command appreciation from just a mention of a purported Binance listing.

## Dogelon Mars: What does the future hold?

If Dogelon Mars is to rise from the ashes, the team behind the token has to return to the drawing board and think out a strategy to shift this coin from being just another meme coin to something of real value to the ecosystem.

They need not look too far. [Shiba Inu](/news/article/shiba-inu-news-will-it-rise) was the first meme coin patterned after Dogecoin. It rode the speculation train for a while until the team decided to reconfigure the project to extract value for both project owners and token holders. The SHIB project now boasts a robust ecosystem of its own, featuring three tokens (BONE, Shiba Inu and Leash) and the Shibarium Layer 2 protocol. A launch into the Metaverse is scheduled for 2023. The recent resurgence of the Shiba Inu and BONE tokens is not accidental. The Dogelon Mars team needs to follow a similar pathway to make the ELON token a thing of value. The meme effect is not going to cut it going forward.

## Conclusion

The current price action on Dogelon's pairing with Tether (the most traded pair of this asset) indicates the brief upside move that has taken it from the low of November/December 2022 to its current levels appears to have stalled. This situation is in keeping with the current expectations.

The 19% move higher was only a drag effect exerted by Bitcoin on the entire market. For Dogelon Mars to witness any real price recovery to its previous highs, there has to be a concerted effort by its developers to create value from the ecosystem. 

Otherwise, the ELON token may fall by the wayside even before the market takes a turn for the better.

There is still time for the developers behind Dogelon to make the necessary changes. Shiba Inu is a classic example of how value addition can make all the difference in a token's valuation.


Is Dogelon Mars a Buy After the Recent Upside?

If you are familiar with the Game of Thrones series and the White Walkers, chances are you will see a semblance to some characters that form the Ice World NFT collection.

There are 2,765 non-fungible tokens on Ice World representing the ice men and the tree men, who will ultimately be locked in a battle to take control of the entire planet.

## What is the concept?

Members of the Ice World community can acquire the NFT tokens by outright purchase or auction. It is also possible to win some of these tokens by participating in the promos and giveaways on the community page. Once you have an Ice World token, you can resell it to others for a profit.

The concept is interesting, but after nearly a thousand people picked up various tokens as NFTs, the tokens and community site experienced a marked lack of interest. This lack of interest in the Ice World NFTs is not surprising, as the entire NFT market has recently suffered some slump.

## Is there a future for Ice World NFTs?

Despite a seeming dropoff in 2022, [data from DappRadar](https://decrypt.co/118438/2022-versus-2021-nft-sales) shows that $24.7 billion of organic trading volume occurred in the NFT market in 2022. So there is still a vibrant NFT market, and there is a potential for a pick-up in 2023 if the crypto market starts heading in the right direction.

There is a belief that the future of NFTs will be in the [Web3 gaming](/news/article/web3-games-raised-millions) industry. Ice World's developers need to think creatively to take the concept in this direction.

The concept of the Icemen vs. Treemen certainly looks promising if taken further as a hugely interactive video game. In that case, this could reach a new market and translate to enormous earnings for community members.


pink image of blockchain with whitewalker ice nft in foreground

Ice World NFT: What is the Pathway to Recovery?

News of a drop in the US Consumer Price Index to one-year lows rubbed off nicely on the cryptocurrency market, as [holders of Bitcoin](/news/article/bitcoin-surge-hits-new-heights), Shiba Inu, and several other crypto assets enjoyed some nice gains.

Shiba Inu holders must be heaving a sigh of relief. Having spent the latter part of 2021 and 2022 dipping their fingers in cold water after having them badly burnt, they are enjoying some handy comfort from the recent price appreciation. Even though Shiba Inu is nowhere near its 2021 highs, the recent march from 0.00000790 to 0.00001090 (a 30% appreciation in January 2023) may have brought some value for Shiba token owners who decided to load up as soon as the crypto asset retested the lows of June 2022.

## Why are holders excited?

Several developments have emerged in the Shiba ecosystem in recent times. The SHIB team has presented the basic concepts behind Shibarium, the Layer 2 blockchain of the SHIB ecosystem.

One of the takeaways from the release is the new ability granted to users and Shiba Inu holders to access Shibarium's test tokens through private test networks.

This is in addition to removing one zero from its price (some of us were starting to lose count). There is also some buzz around a rumoured 2023 launch for the long-awaited SHIB Metaverse.

The [listing of the Shiba token on the StealthEX crypto exchange](https://u.today/shiba-inu-shib-boasts-new-listing-as-price-jumps-22-on-weekly-basis) also created some market buzz. StealthEX is a mobile app that provides non-custodial exchange and swap facilities for the three tokens that make up the Shiba Inu ecosystem.

Speaking of the Shiba ecosystem tokens, one of them is already attracting huge interest. The BONE token, which will power all transactions on Shibarium's Layer 2 protocol, is experiencing a resurgence.

After hitting exchanges at $0.4 in June 2022, it reached its all-time high of $2.39 on 30 August 2022 before hitting Q4 2022 lows at $0.60. Since the 22 November 2022 lows, the price of this Shibarium token has more than doubled. This has positively impacted the number of addresses holding Shiba Inu, growing from 1,280K on 11 January to 1,283K on 17 January. The largest Shiba token owner owns 41.03% of the total supply, according to data from Coinmarketcap.com. The next top holder is a distant second, holding just 5.59% of the total supply.

## Is BONE bringing value?

It isn't easy to quantify this. Undoubtedly, the Shiba Inu token has drawn some inspiration for its one-week performance from the BONE token's rise. However, it is too early to say if this correlation will endure or eventually break down. For now, Shiba Inu token holders may only care a little as long as the token keeps heading in the right direction.


green image of SHIBE and BONE coins on pile of crypto coins

Shiba Inu Holders and the Value of BONE

Curve Finance's decentralised exchange Curve may be just two years old, but it has made some giant strides at a time the crypto industry is in a state of "quo vadis".

The collapse of FTX, the second-largest cryptocurrency exchange at the time, has massively shaken traders' trust in centralised exchanges. A recent report by the Financial Times indicates that traders pulled out a record 91,363 BTC worth $1.5 billion from several notable centralised exchanges in November 2022. According to data from CoinCompare, this is the largest outflow of Bitcoin from exchanges on record.

Every day, new stories come out to add new dimensions to what continues to be an unfolding saga. The saying "not your keys, not your tokens" has come to haunt many who had funds in the bankrupt exchange. The collapse of FTX and several other centralised crypto exchanges have inadvertently opened the door to new opportunities for decentralised exchanges such as Curve Finance. But what does this all mean for you as a crypto investor and for Curve and other decentralised exchanges?

## Curve Finance: A pathway to the new crypto future

Before the FTX saga, there were already problems in the centralised exchange ecosystem. Some of these issues date back to 2014 when the first high-profile crypto exchange hack occurred. Since then, several other hacks of notable crypto exchanges have happened. Others went bust and took down investors' funds with them. Even as customers of Mt.Gox are now getting back their holdings after an eight-year process, many other investors have yet to be as lucky. Clients of collapsed exchanges WEX and QuadrigaCX still don't know what happened to their funds.

The setup of centralised crypto exchanges requires users to leave their cryptos on these exchanges to be able to buy, sell or transact with them. This exposes such tokens to being stolen, hacked, or disappearing outright.

Even more unnerving are details that have emerged from the FTX collapse. One of these is that the unregulated operation was basically being run from a penthouse in the Bahamas by a 10-man team of acquaintances of Sam Bankman-Fried, some of whom were romantically involved. There has yet to emerge any information on these individuals to suggest that they meet the [strict competency requirements](/news/article/sec-crypto-enforcement-warning) that operators in the forex, commodity, and equity markets are guided by to control such a large multi-billion dollar operation.

These problems spurred the next generation of crypto exchanges which captured the decentralisation essence of the blockchain. By keeping their crypto holdings in an external wallet that only required connection to the DEX for a transaction, users could at least be sure they are in control of their funds, sparing them from some of these unfortunate events. This was the environment that birthed the Curve DEX platform.

Curve is a decentralised exchange from the stable of Curve Finance. It features a governance token (CRV) and a crypto economy providing decentralised finance tools access. Curve Finance came on board in 2020, when global financial markets were in a pandemic-induced tailspin, and the crypto market underwent a renaissance after a three-year downturn.

How has Curve been able to ride the latest crypto storm, and should users consider this a safer alternative to centralised crypto exchanges?

## What has been Curve Finance's story since the FTX contagion?

The data on the performance of Curve and other decentralised exchanges shows that the trust of crypto market participants has mainly remained unblemished in the period following the FTX saga. There is every reason to be hopeful about the performance of the CRV token in the months and years ahead.

A 17 November, 2022, report by [Delphi Digital on its Twitter page](https://twitter.com/Delphi_Digital/status/1593031160845799425?s=20&t=SoTm6wx29aKmvqj-r0QUxA) indicated that DEX tokens massively outperformed tokens of centralised exchanges. CEX tokens lost 2.5% in the week under review, while DEX tokens, such as CRV, gained 26%. Crypto research portal Messari indicated that Uniswap and Curve Finance were the two decentralised exchanges expanding their user base.

DappRadar currently ranks Uniswap as the top DEX with a total value locked (TVL) of $4 billion. However, the value of the Uniswap token UNI fell 36% in November following the FTX collapse. It was able to claw back some of these losses, gaining 25% as of the first week of December. In contrast, Messari found that not only did CRV gain 66% after dropping to an initial low of $0.4, but Curve's unique user base grew to an all-time high in November 2022, following an 11% increase over the May 2022 previous all-time high.

In essence, Curve Finance performance in terms of CRV's price appreciation and the number of new users has exceeded that of Uniswap in the period following the collapse of FTX. It is also noteworthy that in September 2022, the total value locked on Curve Finance briefly topped that of Uniswap.

The figures show much potential in investing in the CRV token over the long term and participating in various crypto investment activities on Curve's decentralised exchange.

## What activities are performed on Curve's DEX?

Currently, Curve provides two levels of service:

•	Quick Swap (the service for buying and selling crypto tokens)

•	Liquidity pool (the crypto lending portal).

Decentralised exchanges are, by nature, non-custodial. They do not maintain a centralised wallet to which investors must move funds before they can transact. 

Therefore, users must connect their wallets to use the platform. Compatible wallets include Trezor, Ledger, Metamask, Coinbase Wallet, Fortmatic, WalletConnect, Torus, and Portis. Base wallet currencies supported include Ethereum, Avalanche, Gnosis, Kava, Celo, Fantom, Polygon, and MoonBeam. Once connected, you can swap CRV, DAI, USDT, USDC, LUSD, ETH, and wBTC for each other and an extensive list of other non-descript tokens.

Curve also features liquidity pools for crypto lending and borrowing and presents traders with the Quick Swap exchange portal, where non-custodial crypto tokens are swapped. Liquidity pools are maintained in various cryptos: Bitcoin, Ether, DAI, USDT, and the US Dollar are all featured currencies. 

## Conclusion

The data points are clear: investors are trooping to Curve. This shows that the future of crypto lies in decentralised exchanges. This segment of the crypto market is still nascent, with room for growth in 2023 and beyond.


image of curve finacne logo on blue background of trading stats

Curve Finance to Leverage FTX Crash? 

Recent events in the cryptocurrency market demand that traders get acquainted with new altcoin trading tips if they want to see changes in their trading outcomes.

The last few weeks have provided plenty of drama in the cryptocurrency market. This has added further stress to traders who have seen positions dwindle since the market crash that started in November 2021. We have not seen many upsides lately, so traders have been limited to clutching at straws, especially after the collapse of the second-largest crypto exchange.

## What is altcoin trading?

There is a distinction between altcoin trading and altcoin investing. Those who invest in altcoins typically hold them for an extended period to ride out any storms and end up with gains at the end of the day. For instance, some altcoin investors bought into the initial coin offerings (ICOs) of 2017 and rode out the market downturn of 2017-2020, ending up with gains. This article is not tailored toward such market participants.

Altcoin trading involves buying and selling various altcoins to profit from short-term and medium-term price movements. Such traders would usually spot trade on various exchanges or prefer the riskier crypto perpetual market, where it is possible to trade on a bi-directional basis (i.e. going long and short). Altcoin traders are very actively setting up positions all the time, so they need to have their crypto coins on the exchanges all the time. As the FTX saga has proven, this introduces a new level of risk to the trader. The [altcoin trading tips](https://icoholder.com/blog/trading-altcoins/) covered here are for this category of market participants.

## Altcoin trading tips in a bearish market

How do you trade altcoins when the market is bearish as it is right now? Anyone can buy and profit when the market is bullish. But being able to profit in a bearish market is what separates kids from adults in the market. It is possible, whether you believe it or not, to work around a bearish market and trade profitably.

Since the crypto market is currently bearish, how do you go about trading altcoins in a market where prices are more likely to fall than rise? Successful trading of altcoins in any market condition requires understanding some basic principles of price action. There are other things the trader must also be familiar with. These are all mentioned in the altcoin trading tips listed below.

## Altcoin Trading Tip 1: Understand what a trend is

The concept of the trend was introduced to the trading world in a series of writings by Charles Dow, co-founder of the Wall Street Journal and creator of the Dow Jones Industrial Average. This concept forms part of what is now universally known as the Dow Theory. Charles Dow indicated that price action did not move in a straight line but, like an ocean wave, moved around in zig-zags within the context of the general tide of the ocean. 

He likened the price action in the financial markets to the movements that constitute an ocean tide. Mr. Dow indicated that a tide consists of waves, and waves are a collection of ripples. In other words, price action has smaller components. He also opined that the tides were the major trends, the waves were the secondary trend, and the ripples were the minor trends. The major trend was seen on long-term charts, while the secondary trend was the medium-term price action. Price moves on smaller time frames were said to be a minor trend.

Charles Dow also said there were three possible price directions: upward, sideways, and downward. These correspond to the uptrend, range-bound (consolidation) phase, and downtrend. The postulates of Charles Dow have formed the basis for price action analysis, and these still hold in all financial markets, including the crypto market. 

Understanding the roles of the ripples and waves in the formation of the tides will help you navigate the price moves in any market condition, including the present bearish market. So even in a bearish market, there will be periods of brief recovery, consolidation, and an extension of the downtrend. The same occurs when the trend reverses.

## Altcoin Trading Tip 2: Understand how to manage risk

Bitcoin and several altcoins have been known to produce wild price movements. When altcoins move, they move hard. The ability of your account to survive any contrary moves of the market when you have active positions is a function of risk management. Your account must live to be able to fight another day. 

The market rule is that the trader should commit at most 3% of his account size in market exposure. Some traders commit 20% or more to altcoin trades and are surprised at how fast their positions are taken out by reverse movements when trading perpetual contracts. It is better to aim for incremental profits than to target home runs.

## Altcoin Trading Tip 3: Trade what you are familiar with

From this writer's observations, there are altcoins with a reputation for heavy price movements. These are:

1.	Recently listed altcoins (Luna2, Aptos, etc).

2.	Altcoins linked to BTC when the latter is moving quickly (Fantom, Loopring, Yield Finance, Ripple, Litecoin, Bitcoin Cash).

3.	Recently, tokens directly linked to FTX, such as [Solana](/news/article/solana-to-gbp-conversion).

The price movements of these altcoins are very rapid when there is extreme volatility. If you are not familiar with the extreme volatility that can come with trading these altcoins, you are better off avoiding them - trade only familiar tokens. Try to research some altcoins and understand how their price moves play out. Then trade them on a practice account until you are familiar with them.

## Altcoin Trading Tip 4: Have a strategy and stick to it

No piece on altcoin trading tips will be complete without mentioning the role of having a strategy in successful altcoin trading. You must have a strategy and stick to it. A strategy is usually conditions that must be fulfilled on the charts for a trade entry and exit to be validated. Having one introduces the element of discipline and allows you to filter trade conditions properly.

A strategy must include additional elements such as risk management and risk-reward ratios. You must also develop the appropriate psychology when trading. Know when to keep trading even after a loss and when to walk away. Do not force your entries or exits.

You can get a programmer to create a bot that embodies your strategy elements so that trades only become active when you meet the strategy parameters.

## Altcoin Trading Tip 5: Don't make your stops too tight

Setting tight stop losses is a sure way to lose your account. If you set your stop too tight, the market move could trigger that stop before the trade moves in your direction.

Why do traders set their stop losses too tight? It is usually due to the fear of losing. This fear of loss comes from taking on too much risk. If the trader decides to reduce risk exposure to a minimum, it will allow for a more generous stop placement that enables the trade to breathe. If the trade ends up being a loser, the lower risk will also reduce the scale of losses. The price action only sometimes takes off in the trader's preferred direction. It may enter negative territory (the drawdown) before it becomes positive.

## Altcoin Trading Tip 6: Know how to identify support and resistance

Support is a price at which selling pressure starts to dry up. Resistance is a price at which buying pressure starts to fade. From this definition, it is clear that a support level/zone is a potential buy area. In contrast, a resistance zone/level is a potential point to sell or exit existing long trades.

Knowing how to identify support and resistance areas will help you not stay in altcoin trades for too long. It will also help you get better entries and exits for your trades. Recall that altcoins make rapid moves in wide ranges when the crypto market is volatile. You want to avoid seeing a profitable position start to reverse against you because you did not exit at the right point. You also want to enter early enough to catch a decent move.

The identification of support and resistance will eliminate such mistakes. Standard support and resistance tools include trendlines, pivot points, channels, and Fibonacci price levels.

## Altcoin Trading Tip 7: Avoid long trading breaks

Do not allow yourself to get "trade rusty". In soccer, there is a phenomenon known as match rustiness. In boxing, it is known as ring rust. It is a well-known fact that taking extended breaks from an activity that requires repetition to attain perfection results in a loss of cutting edge because of the inactivity.

If you take long breaks from trading, you start to lose a dimension of your edge. If you have had a string of bad results, you should stop trading a live account and switch to a demo to retain an element of your mental affinity for trading.

## Conclusion

The altcoin trading tips discussed above only represent part of the gamut of what you need to do to remain a consistent altcoin trader. However, if you can incorporate several of these altcoin trading tips into your day-to-day trading activity, you will see positive changes in your trading career.


Altcoin Trading Tips

Key takeaways on why Aptos crypto is a good investment case for 2023 and beyond:

•	Based on Web3 technology, which is the future of the blockchain.

•	Aptos blockchain is built to provide a low latency, high throughput system which caters to different use cases and is resource-constraint-tolerant.

•	[Several projects are signing up to the Aptos platform](https://cryptotvplus.com/2022/10/5-nft-projects-on-the-aptos-blockchain/), deepening Web3’s adoption.

## What is the Aptos crypto all about?

The Aptos crypto token APT was listed on some exchanges in October 2022. A month later, the second largest crypto exchange, [FTX](/news/article/ftx-bankrupt-who-to-blame), collapsed. The scandal continues to unfold, and the public is learning more about how the lack of proper management brought that exchange to its knees. The damage to the crypto market is undeniable. As the FTX saga has clearly shown, there is much folly in simply speculating on tokens with no structure or foundation. 

This event may have a silver lining and will allow crypto enthusiasts to move away from the speculative activity on crypto tokens and get back to the essence of the blockchain. Aptos's Web3 offering is one project that can take the crypto industry in the proper direction and create value for stakeholders in this ecosystem.

The Aptos blockchain is a project that aims to promote rapid adoption and deployment of Web3 technologies using cloud infrastructure. Based on the Move language, Aptos presents a new way of designing smart contracts and enhancing system security and decentralization of blockchains.

Decentralization is at the very core of the Aptos network. Web2 versions of internet-based services feature a lot of centralization, where companies control the data and decide who can be on their platforms. This opens the door to abuse. Facebook, Amazon, and other companies have, at one time or another, faced accusations of competition-unfriendly practices and misuse of user data. These companies come under some form of regulation. Regulators have stepped in once in a while to reign in the excesses of these companies. But in the blockchain world, an ecosystem that promotes decentralization, the existence of centralized entities that operate without regulation makes for a dangerous combination. The collapse of FTX typifies such dangers.

## FTX's collapse will hasten Aptos crypto's Web3 drive

Despite the decentralization feature of distributed ledger technology, many crypto exchanges continue to operate as centralized organizations, representing a significant failure point. If there is a hack, a run on the exchange, or customer funds vanish (as in the FTX example), users lose everything. This goes against the very notion of distributed ledger technology.

The concept of Web3 is a direct response to the problems associated with centralized internet-based networks. As a Web3 blockchain project, Aptos aims to be the backbone on which several other Web3 projects will spring up. The Aptos crypto airdrop has been concluded, and the Aptos blockchain platform already has several hundred projects waiting to launch.

The only way to stop the crypto market from being the cesspool of centralized, corporate degeneracy is by shifting focus away from undue market speculation. FTX fell into this trap by [moving billions to Alameda](https://www.theguardian.com/technology/2022/nov/11/cryptocurrency-exchange-ftx-files-for-bankruptcy-protection-in-us) and losing these in risky speculative bets.

Some investment banks thronging into the crypto market in late 2020 and 2021 are starting to rethink their focus. CoinDesk cited an 18 November, 2022, investment note by Bank of America (BofA) analysts Andrew Moss and Alkesh Shah, in which investors were reminded that the development of applications that leverage distributed ledger technology continues to advance, irrespective of FTX's collapse. 

To buttress the point made by the BofA analysts, on-chain data show that DeFi protocols continue to enjoy steady revenue growth. [DeFi's revenue](https://www.fxstreet.com/cryptocurrencies/news/polygon-ranks-third-in-top-defi-projects-by-revenue-what-this-means-for-matic-price-202211172222) during a week in early November is demonstrated in this snapshot, taken from Token Terminal. It shows that Ethereum netted more than $555m in that week. OpenSea and Illuvium earned $73.5m and $73.3m, respectively. Next are dYdX and PancakeSwap, with revenues of $39.6m and $34.9m.

![aptos.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/aptos_5595e79820.png)
 
## DeFi Network Earnings, Early November 2022

The problems seen in the crypto market are more of a failure of corporate structure and not an issue with the technology on its own. Decentralized exchanges like PancakeSwap and decentralized finance networks like Ethereum and dYdX still make money even when centralized exchanges and their tokens are bleeding. It is an obvious pointer that we should be looking for ways to expand the technology and not be fixated on speculating on the native tokens.

The Aptos crypto token has lost much of its value within a month of listing on major exchanges. From a Binance-listed high of $100 on 19 October, 2022, the token is struggling to stay above the $4 mark. This may be a disguised blessing, as it makes the APT token unattractive to speculators, given the spreading contagion of the FTX collapse. This will redirect focus back to the essence of the distributed ledger technology. 

Distributed ledger technology was not created as an exotic financial asset for market speculation. Bitcoin certainly wasn't, as Satoshi Nakamoto envisaged its use as a means of peer-to-peer payments. True decentralization lies at the core of the Web3 drive, and Aptos is positioned to lead the way in this direction.


Is Aptos Crypto a Good 2023 Investment?

The Coin Hunt play-to-earn crypto game may soothe the pains of frustrated HODLers whose positions have remained underwater for a year now.

It has been a frustrating period for most crypto HODLers. Things were going well from mid-2020 to November 2021, and it appeared the crypto market would make many people rich. Even grandmothers at the 2021 Thanksgiving Holiday dinners were all getting set to pour their life savings into the market after seeing their grandkids making tons of money from buying just about anything listed in a crypto exchange. 

It all came to a crashing end in late November 2021 with the discovery of the Omicron COVID-19 variant. That signalled the market to begin a bearish onslaught that has left 95% of holding positions underwater. A year on, and the market has yet to recover.

The beauty of the crypto market is that it has several ways to earn money. One of these ways is the [play-to-earn](/news/article/play-to-earn) crypto gaming ecosystem. This is one of the lesser-known channels of crypto earnings which could provide a means of cooling the fingers of investors that have been burnt in the market. [Coin Hunt](https://uphold.com/en-gb/apps/app/coin-hunt) is one such game that deserves mention.

## How does the Coin Hunt work?

Coin Hunt World is a play-to-earn crypto game that uses geolocation technology to enable you to earn rewards for correctly answering trivia questions. These rewards are stuff you can gather from your city or neighbourhood. You can collect keys to unlock vaults that contain prizes. You can send these to your wallets or exchange them for fiat currency and use them. Of course, there are a lot of cryptos up for grabs. The fact that the co-founder of a major crypto exchange (Bittrex) is behind this game, along with a gaming industry veteran, puts a stamp of authenticity on the product.

So how does Coin Hunt work? The concept of the Coin Hunt is to put your mind to work by using your knowledge to earn crypto-based rewards around your city. It is free to play, but you must first download the game on your iPhone or Android device.

After downloading the Coin Hunt app, you will see a screen with a text box that requires you to enter your email. You will get an email verification link, which you have to click to verify your account. Once you have access, the app will show you a map of your neighbourhood along with a green key (your headquarters). The user keys and system vaults that act as the rewards are usually sited more in the populated areas of your town. Only move your green key cursor to areas you stay or visit regularly.

Every user's home base is tagged as the headquarters (HQ). There are five HQ Levels. All new users start at Level 1. Those who used the game before the last upgrade have been upgraded to Level 4.

•	Level 1: Benefits include the Mystery Boxes, Mailroom, and Discord communication channel. If you want to demolish your HQ and set it up elsewhere, you can do so, but you will consume one green key. The last option is good for those relocating elsewhere and not wanting to miss out on the game.

•	Level 2: A little gearbox on the top right of the screen gives instructions on upgrading to Level 2. This will cost 1,000 resins and 100 green paint tokens. It would be best if you also equipped the green cubie. Complete the tasks to access the User Vaults, which can be accessed using a green key. The vaults contain trivia questions for a chance to earn crypto.

•	Level 3: Would require 10,000 resin and 200 yellow paint tokens and equipping the yellow cubie. At this level, you can access the marketplace and buy when an auction occurs.

•	Level 4: This is by far the most challenging level to attain. It requires 50,000 resin, 300 red paint tokens, and equipping the red cubie. Accessing this level allows you to sell on the auction house.

## How to join the Coin Hunt 

The Coin Hunt game app is available in the Play Store and Apple Store. Download the app version compatible with your smartphone or tablet device if you live in the countries where the game is available.

Coin Hunt is available in the US, UK, El Salvador, Canada, and Malaysia. The game is also available in the Philippines, where there is a solid crypto-gaming culture. You can feature in the [Community Poll](https://coinhunt.world/) to list your country as a potential new destination for the launch of Coin Hunt.


Coin Hunt World: A New Way to Game

Crypto lender [BlockFi](/news/article/is-blockfi-bankrupt), which offered unsecured crypto loans to retail investors, filed for Chapter 11 bankruptcy late Monday. There had been indications that the FTX scandal could render crypto lender [BlockFi bankrupt](https://www.nytimes.com/2022/11/28/business/blockfi-bankruptcy-cryptocurrency-ftx.html?smtyp=cur&smid=tw-nytimes) due to its exposure to the fallen exchange. It is now official.

[BlockFi had suspended withdrawals](https://www.bloomberg.com/news/articles/2022-11-11/blockfi-pauses-withdrawals-says-can-no-longer-operate-as-usual) soon after the collapse of FTX, citing significant exposure to the Bahamas-based exchange. The role of [FTX's failure](/news/article/ftx-bankrupt-who-to-blame) in making BlockFi bankrupt is becoming more evident by the day. 

BlockFi says it owes $275m to FTX US in the bankruptcy filings before a New Jersey court. This amount was part of a $400m lifeline FTX offered BlockFi in June when it began experiencing a liquidity crunch following the collapse of crypto lenders Voyager and Celsius. There was also an option for FTX to buy BlockFi. These facts are only becoming public as the scope of the FTX scandal widens.

BlockFi's bankruptcy filing indicates that the firm had $10 billion in assets and liabilities. While the company said in its bankruptcy filing that it was working to recover obligations owed by several counterparties, it adds that any recovery efforts risked delays from FTX's bankruptcy proceedings.

## BlockFi bankrupt: What next?

BlockFi had been in trouble with the US Securities and Exchange Commission (SEC) over its lending activities. It had been fined $100m by the SEC for not registering its crypto lending products as securities. In declaring BlockFi bankrupt, the filing said it still owes the regulator $30m, among other sums owed to more than 100,000 creditors.

The extent of BlockFi's entanglement with FTX continues to unravel. Bankruptcy filings reveal BlockFi made nearly $680 million in collateralized crypto loans to former FTX CEO Sam Bankman-Fried's Alameda Research hedge fund, even as it got a financial reprieve from the FTX exchange. 

Initial reports indicate that billions of dollars in the FTX balance sheet are unaccounted for. Where FTX got the funds, it used to bail out BlockFi in June is now a subject of speculation. Answers may come in the weeks ahead.


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Author: Eno Eteng

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