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Will ApeCoin sustain gains after an 11% jump?

  • ApeCoin has risen by double digits in a single day

  • The gains reflect a growing appetite for attractively priced assets

  • APE has met resistance, and further gains will depend on the Fed’s action

The price of ApeCoin APE/USD pumped by more than 11% in 24 hours. The surge happens amid a growing appetite for cryptos after the latest slowdowns. Leading cryptocurrencies Bitcoin and Ethereum have added 3.23% and 4.30%, respectively. 

Santiment data indicates that the 24-hour gains reflect a “buy the dip” sentiment. The recent fall in prices made the tokens attractive, which got buyers back into the market. But the key question now is, can the gains be sustained?

A Fed rate decision on Wednesday will be a key determinant of whether the market will stay bullish. On the one hand, inflation continues to run high despite cooling recently. That has sparked speculations that the Fed could aggressively hike rates to tame prices. The move will be a bearish trigger for most, if not all, cryptocurrencies.

On the flip side, the Fed is expected to sound less hawkish, preferring a gradual rate hike. The course of action is likely to be taken if the Fed fears an economic meltdown if it acts too fast. A less hawkish Fed will be a bull trigger for cryptocurrencies.

APE pumps ahead of FED decision

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Like other cryptocurrencies, APE attracted dip buyers at the $4.6 bottom. The cryptocurrency trades at $5.8 following a buy-the-dip call. 

Source – TradingView

A technical outlook shows ApeCoin has met resistance at $6.0. The cryptocurrency trades above all the moving averages strengthening a bull case. The MACD indicator is in the bull territory.

Concluding thoughts

We remain hesitant that the Fed decision will determine whether APE will sustain the gains. Having met resistance at $6.0, there could be a correction or consolidation as traders await the Fed decision.

The post Will ApeCoin sustain gains after an 11% jump? appeared first on CoinJournal.

Walmart’s Roblox venture marks retail giant’s foray into the Metaverse

Covered: Walmart and Roblox More on the Metaverse experiences Walmart and Roblox U.S retail giant Walmart has officially entered the Metaverse with the launch of two new projects on popular gaming platform Roblox. The two immersive experiences created by Walmart namely, Walmart Land and Walmart’s Universe of Play, will let consumers explore the metaverse and::Listen

Covered:

  • Walmart and Roblox
  • More on the Metaverse experiences

Walmart and Roblox

U.S retail giant Walmart has officially entered the Metaverse with the launch of two new projects on popular gaming platform Roblox.

The two immersive experiences created by Walmart namely, Walmart Land and Walmart’s Universe of Play, will let consumers explore the metaverse and experience what one of the largest platforms in the metaverse has to offer.

William White, the Chief Marketing Officer of Walmart U.S said,

”We’re showing up in a big way – creating community, content, entertainment and games through the launch of Walmart Land and Walmart’s Universe of Play.”

The new venture is aimed at attracting the “next generation of customers” and with Roblox’s growing popularity among Gen Z, this venture is expected to pay off. 

More on the Metaverse experiences

Walmart Land will debut with three major experiences. The first, Electric Island, will focus on music and DJs etc. The House of Style will feature a virtual dressing room and offer products from various brands. Finally, Electric Fest will let users experience “motion-capture concert celebration” and live performances by popular artists.

The Walmart Universe of Play offers different toy worlds that users can explore to earn coins which can be redeemed for virtual merchandise or “verch.” This experience will include immersive games and virtual adventures where users can explore the universe. This project will also feature collectibles in the form of toys and coins that users redeem for goods to customize their avatars with. 

Roblox’s role in metaverse adoption

Walmart’s decision to launch its virtual experiences on Roblox will help them by offering exposure to more than 52 million users that visit Roblox everyday. Roblox boasts impressive statistics like 12 million creators on the platform, 32 million experiences and more than 11 billion engagement hours by users. 

“Roblox is one of the fastest growing and largest platforms in the metaverse, and we know our customers are spending loads of time there,” William White said.

Several industry leading names have chosen Roblox as the preferred platform to launch virtual projects. These names include Nike, Samsung, Spotify etc. 

Companies around the world are taking note of the metaverse’s rising popularity, especially among their future customers. Citi stated in a report published earlier this year that by the end of the decade, the metaverse economy could be worth anywhere between $8 trillion to $13 trillion.

News of Walmart’s foray into the metaverse comes nine months after it filed seven trademark applications that shed light on its plans regarding virtual goods, virtual currency and NFTs.

Walmart is no stranger to blockchain technology. For instance, VeChain, which counts Walmart among its clients, revealed that it had pumped out close to 700,000 transactions for Walmart. It uses VeChain for product traceability among other things.

*This article originally appeared in AMB Crypto

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The post Walmart’s Roblox venture marks retail giant’s foray into the Metaverse appeared first on CryptosRus.

Will ApeCoin sustain gains after an 11% jump?

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