Press Release
TON P2E Fishing Game CoinFish, Incubated by MEETLabs, Officially Launches on Oct 23rd
Singapore, Singapore, October 13th, 2024, Chainwire
MEETLabs officially announced that its incubated TON ecosystem clicker game CoinFish will initiate an airdrop event on October 23rd, with a current 10-day countdown. CoinFish (https://x.com/coinfishfun) is a Web3 game that combines fishing with business simulation, where players feed stray cats by fishing in the game, participate in the operation of the aquatic product market, and nurture cat characters, enriching the game’s interactivity and entertainment.
CoinFish (https://x.com/coinfishfun) is set in a fictional world, telling the adventure story of a stray cat team and the polar bear Og. In this world, due to war and environmental pollution, the ecosystem is damaged, and stray cats start a new life by rebuilding their homes in “Pearl Bay”. The game character design refers to brands such as Sanrio, adding to the game’s affinity and cultural identity. The polar bear Og, as a star of the circus, is witty and brave, embarking on a journey with the stray cat team to find a new home and save the Earth’s environment, becoming their loyal partner and bodyguard. Over time, their life in “Pearl Bay” becomes increasingly colorful, accumulating a large amount of fish coins and establishing a deep friendship through mutual support and encouragement, bringing peace and beauty to this fragile world.
The features of CoinFish (https://x.com/coinfishfun) include parallel fishing and business simulation modes, eliminating the need for continuous online fishing. The game increases the “profit per hour” parameter through fish market simulation, utilizes referral systems and diverse gameplay to increase income. The daily activities and task system simplify the game process, allowing players to easily obtain daily rewards and interact with friends for mutual benefits. Additionally, players can create their own cat raising circle, invite friends to raise cats in the cloud, and share Bonus rewards, enhancing the game’s social and participatory aspects.
Additionally, MEETLabs’ invested and incubated Crypto Gaming project CryptoPlay includes a series of large-scale Web5.0 gaming products such as CoinFishing, CoinHunting, and Monopoliverse, catering to both PC and mobile platforms. The inaugural product of the CryptoPlay project, CoinFishing, is set to officially launch in Q4 of 2024, further enriching the gaming experience of CoinFish (https://x.com/coinfishfun). As the pre-operational segment of the fishing game CoinFishing, CoinFish will also continue to provide more P2E opportunities for community contributors and in-depth participants.
About MEETLabs
MEETLabs is an innovation lab focused on the field of blockchain technology and cryptocurrency, also serving as the incubator for MEET48. MEET48 is considered one of the largest global Web3 application project teams, with a technical and R&D team of 500 people, covering regional operations in Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve mass adoption of Web3 technology with a focus on the AI UGC content ecosystem centered on AIGC (Animation, IDOL, GAME, and Comics) for Generation Z’s trendy entertainment content, as well as a graphical and intelligent metaverse social infrastructure.
MEET48 Official Website: https://www.meet48.xyz/
Twitter (X): https://x.com/meet_48
Telegram: https://t.me/MEET_48
Discord: https://discord.gg/meet48
Contact
Marketing Director
Siyu Yang
MEET48
siyu@meet48.com
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Press Release
Altcoin Season Index Rises to 31, Signaling Continued Bitcoin Season
Altcoin Season Index Rises to 31, Signaling Continued Bitcoin Season
The Altcoin Season Index, a key metric tracked by CoinMarketCap (CMC), has risen by three points to 31 as of 00:30 UTC on November 7, reflecting a slight uptick in altcoin performance relative to Bitcoin (BTC). This marks a gradual movement but still indicates that the market is firmly in Bitcoin Season rather than a full altcoin season. The index compares the performance of the top 100 coins on CMC over the last 90 days, excluding stablecoins and wrapped tokens.
In order to confirm Altcoin Season, 75% or more of these top 100 coins need to outperform Bitcoin. Currently, Bitcoin Season persists as only 25% or fewer of these coins have managed to surpass BTC’s performance.
What is the Altcoin Season Index?
The Altcoin Season Index provides insight into market trends by comparing the performance of altcoins against Bitcoin over a 90-day period. The index score ranges from 1 to 100, with higher scores indicating stronger performance from altcoins relative to BTC. Key indicators of the index include:
- Bitcoin Season (Index Below 25%): When the index score is low, it signals that Bitcoin is outperforming the majority of altcoins, reflecting a strong BTC market dominance.
- Altcoin Season (Index Above 75%): A high index score of 75 or above indicates that altcoins are outperforming Bitcoin, signaling greater demand for alternative digital assets.
As of now, with the index at 31, the market remains in Bitcoin Season, suggesting that BTC continues to outperform the majority of altcoins.
Factors Behind the Rising Altcoin Season Index
While the current index remains in Bitcoin Season, the recent three-point increase reflects several contributing factors that could shape the altcoin market’s trajectory in the coming months:
- Bitcoin’s Recent Price Rally: Bitcoin’s price surge to record highs has attracted significant market attention and investment, leading to increased dominance. However, as Bitcoin stabilizes, some investors may begin shifting focus to altcoins in search of higher returns, which could further boost the index.
- Increased Institutional Interest in Altcoins: Institutional investors are increasingly diversifying into altcoins like Ethereum (ETH) and Solana (SOL) due to their unique use cases, especially in DeFi and NFTs. This increased interest in alternative assets supports altcoin growth relative to Bitcoin.
- Development in DeFi and Layer 2 Solutions: The expansion of DeFi platforms and Layer 2 scaling solutions is driving adoption and demand for altcoins, particularly for Ethereum-based projects. As DeFi platforms gain traction, they attract more capital into the altcoin sector, potentially impacting the Altcoin Season Index.
- Market Diversification: Retail and institutional investors are seeking diversification beyond Bitcoin, especially as they look to participate in emerging projects with high-growth potential. This diversification contributes to higher trading volumes in altcoins, supporting a gradual rise in the Altcoin Season Index.
What Does Bitcoin Season Mean for Investors?
The fact that the market remains in Bitcoin Season despite the slight increase in the Altcoin Season Index suggests that Bitcoin is still the primary focus for most investors. Here’s what Bitcoin Season implies for crypto investors:
- Focus on BTC as a Stable Asset: During Bitcoin Season, Bitcoin typically exhibits more stability and may serve as a hedge for investors who seek security in digital assets, especially in times of volatility.
- Altcoins as Speculative Opportunities: With Bitcoin’s dominance holding strong, altcoins remain a speculative investment for those looking to take advantage of potential rallies within the sector. However, investors should be cautious and selective, as altcoins are more prone to volatility.
- Long-Term Opportunity for Altcoins: Although Bitcoin currently dominates, rising demand for blockchain applications and DeFi suggests that altcoins with real-world utility could see strong performance in the long term, especially as adoption increases.
Bitcoin Season generally indicates that BTC has a strong grip on market sentiment. However, the rise in the Altcoin Season Index suggests that altcoins could gain traction if Bitcoin’s dominance decreases or if interest in emerging projects grows.
How the Altcoin Season Index Could Change in Coming Months
With the index climbing gradually, several scenarios could lead to a shift from Bitcoin Season to Altcoin Season:
- Stabilization in Bitcoin’s Price: If Bitcoin’s recent rally stabilizes and trading volume shifts, altcoins could attract more attention. This rotation often occurs as investors seek high-growth opportunities in smaller-cap assets.
- Breakout of Key Altcoins: Significant gains in leading altcoins like Ethereum, Solana, and other DeFi tokens could drive the index higher. As these projects expand and gain adoption, they may outperform Bitcoin, shifting the market dynamics.
- Increased Participation in DeFi and NFTs: The growth of DeFi and NFT platforms could pull more capital into the altcoin sector, accelerating the shift toward Altcoin Season. DeFi projects that offer innovative financial solutions and NFT platforms with popularized use cases are likely to gain more traction.
- Changes in Market Sentiment: If investors become more optimistic about the potential of altcoins, particularly those with strong utility in blockchain ecosystems, the Altcoin Season Index could rise faster, reaching the 75% threshold.
These scenarios show that the index could shift significantly depending on market conditions and investor sentiment toward altcoins.
Conclusion
The Altcoin Season Index rising to 31 suggests a gradual increase in altcoin performance relative to Bitcoin, although the market is still firmly in Bitcoin Season. With Bitcoin maintaining dominance at 60.61%, the market has yet to see a full shift toward altcoins. However, the recent uptick in the index signals potential momentum for altcoins as interest grows in DeFi, NFTs, and Layer 2 solutions.
As the Altcoin Season Index continues to evolve, investors will need to keep an eye on Bitcoin’s performance and emerging opportunities within the altcoin market. For those looking to diversify, the current index level indicates that altcoins may present speculative opportunities, while Bitcoin remains the primary choice for stability.
For more insights into the latest crypto trends and analysis, explore our latest news on market indicators, altcoin performance, and investment strategies.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
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