What is happening in the crypto market and how are Chia (XCH), Eos (EOS) and Poken (PKN) performing? Below is an analysis of current and future prices and the latest news.
Analysis of the Chia (XCH), Eos (EOS) and Poken (PKN) crypto
Recall that Chia (XCH) is a crypto whose mining is based on the Proof Of Space consensus algorithm, i.e. the amount of disk space dedicated to it, and not on computing power.
EOS, on the other hand, is a blockchain platform designed with a very clear objective: to be a platform with commercial capabilities. This means that it is capable of distributing decentralised applications (DApps), is highly scalable and can serve millions of concurrent users.
Finally, the Poken (PKN) cryptocurrency is the native token of the Pokmi merchant. This token is mainly intended to encourage actors and creators of adult content.
Chia Network launches infrastructure for CODE metaverse
Chia Network recently announced the launch of its Chia Open Digital Economy (‘CODE’) framework, with initial goals focused on helping the video game industry move towards a more open metaverse.
By providing a sustainable and compliant public on-chain infrastructure, CODE enables game developers to integrate their creative work into the web3 digital economy, cultivating a thriving ecosystem for creators and consumers.
Chia’s proof-of-concept game, ChiaTCG, is leading the launch of the CODE framework. In particular, the open source reference game demonstrates the ease of extending digital assets across IP and ecosystems.
It also provides a starting point for adoption by game developers and commercial viability for developers using Chia’s NFT1 standard for IP licence protection and royalties applied on-chain in perpetuity.
By using Chia’s offerings, direct player-to-player exchanges, without the need for a marketplace or exchange, mitigate risk and provide players with a digital ownership experience parallel to physical card trading. Gene Hoffman, CEO and President of Chia Network, said:
“The metaverse as it exists today is just a marketing ploy and loss leader for blockchains with little substance or utility. We are approaching the metaverse challenge and pain, from both creator and consumer experience, to review the foundations of the digital economy. We’ve been building on this momentum for some time: our blockchain and primitives provide real-world solutions to the challenges we’ve identified”
Rebound possible for Crypto EOS? Comparison with Chia and PKN
Based on the latest data, we know that the price forecast for crypto EOS favours the bulls and suggests a long-term rise. In any case, the price of EOS seems to be stuck in the wide range between $0.950 and $1.300 and is likely to break either side soon.
Currently, the price is close to the lower end of the range and buyers are trying to defend the $0.950 level.
EOS has fallen below 200 and the 50-day EMA has turned bearish. In addition, EOS cryptocurrency trading volume is trending lower, indicating that fewer participants are active and the price may be entering a consolidation.
The price of EOS is currently trading at $1.024 with an intraday decline of -0.78%. The 24-hour volume to market cap ratio is 0.0808. The EOS/BTC pair is trading at 0.0000350 with an intraday decline of -1.69%.
It should also be noted that at the beginning of March, EOS hit resistance at $1,300 and fell back.
It then collapsed with great momentum, erasing the gains made in February. The fall was halted at $0.950 and buyers rallied slightly from the support.
Focus on the price of crypto PKN
The price of Poken (PKN) today is 0.00149655 USD, with a 24-hour trading volume of 36,972 USD. This represents a 0.02% increase in price over the last 24 hours and a 1.17% increase over the last 7 days.
Poken’s (PKN) daily volume for the last 24 hours was $36,971.92, an increase of 47.90% compared to the previous day, indicating a recent increase in market activity.
However, the highest price paid for Poken (PKN) is 0.077479 USD, which was recorded in December 2021.
In comparison, the current price is -98.07% lower than the all-time high.
On the other hand, the low for Poken (PKN) is 0.00123677 USD, reached in October 2022. In comparison, the current price is 20.98% higher than the all-time low.
With a price increase of 1.20% over the past 7 days, Poken (PKN) is outperforming the global cryptocurrency market, which is down -1.90%, while outperforming similar BNB Chain Ecosystem currencies, which are up 1.00%.
Thus, the community is upbeat with positive market sentiment as more than 100% of users are bullish on Poken (PKN).
Source: https://en.cryptonomist.ch/2023/05/05/latest-crypto-news-chia-eos-pkn/