press release

PRESS RELEASE. Taipei, March 13, 2023 – Bloxmith, the player-first Web3 gaming studio, today announced that the open beta for Raiders Rumble, its unique 1v1 squad battler game for mobile powered by the Flow blockchain, is now available for download on Google Play and Apple App Store.

Raiders Rumble challenges players to apply fast-paced strategic decision making in countering the moves of their opponents. Built as a strategic esports game for the masses, it features a daily rotation of tournament modes where the top 50 percent of participants can win in-game items or RUMB tokens, Raiders Rumble’s project token.

Furthermore, players do not need a crypto wallet or digital collectibles (NFTs) to start playing and enjoying the game. To maintain competitive integrity, digital collectibles in Raiders Rumble do not provide any in-battle advantage, though they have several other unique features that make them highly valued by collectors.

“For our first game, we wanted to pioneer a new type of competitive mobile strategy game that would help bridge the gap between traditional and Web3 gamers,” said Bloxmith Co-founder and CEO Wayne Lee. “We are delighted to be working on the Flow blockchain – it solves the scalability problem for games and digital collectibles. With frictionless onboarding, social logins and familiar payment methods, Flow is built from the ground up to make it easier for mainstream users and brands to transition from Web2 to Web3.”

As part of the launch and esports nature of the game, Raiders Rumble will host three Flow-sponsored bonus tournaments. Strategy gamers will have the opportunity to win FLOW tokens, with a total prize pool worth $USD 120,000 in FLOW up for grabs for the best strategy gamers around. These Flow-sponsored tournaments are scheduled to take place between March 23-31, with more details on the Raiders Rumble website here.

“Raiders Rumble is a compelling example of a mobile game that can simultaneously appeal to a mainstream audience while introducing them to the power of Web3 gaming powered by Flow,” said Chirag Narang, Head of Product at Flow. “The Bloxmith team’s innovative take on game design and player onboarding aligns strongly with Flow’s vision and goals for our ecosystem around gaming and onboarding mainstream users to Web3.”

About Bloxmith

Founded in December 2021 by a group of passionate gaming veterans from Riot Games, Blizzard Entertainment, Pumpkin VR and Facebook Gaming, Bloxmith’s mission is to create player-first games that are still fun even after 1000+ plays. Bloxmith’s investors include Infinity Ventures Crypto, Dapper Labs, Vayala, Moon Holdings, Bitoro, SEA Pixel, and Results.io.

For more information, visit: Website | Twitter | LinkedIn | Discord

For media inquiries, contact: Deon Moh, [email protected]

About Flow

Flow is a decentralized layer one blockchain designed for onboarding mainstream consumers. Frictionless, secure and eco-friendly, Flow empowers developers to innovate and push the limits that will bring the next billion to Web3. Today, Flow is home to a thriving ecosystem of creators from top brands, development studios, venture-backed startups, crypto leaders, and more. For more information, visit www.flow.com.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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The realm of stablecoins is an ever-evolving landscape and the number of coins in circulation for the stablecoin BUSD has fallen below the 10 billion mark to approximately 9.68 billion on March 3, 2023. Over the last 30 days, BUSD’s token supply has dropped 40% lower. In contrast, the number of tethers in circulation has increased by 4.7% to 71.11 billion in the last month.

BUSD Slips Below $10 Billion, Tether Supply Rises by 4.7% to Over $71 Billion

In the stablecoin economy, currency supply fluctuations are key drivers of change. As of Friday, March 3, 2023, the stablecoin economy has a valuation of $136 billion, and stablecoins account for $47 billion of the world’s trade volume over the last 24 hours. The supply of BUSD has dropped significantly and now stands at 9.68 billion, representing roughly 0.901% of the entire crypto economy’s net value. In contrast, the top two largest stablecoins by market capitalization, USDT and USDC, have seen increases in terms of coins in circulation over the past 30 days, while BUSD’s supply continues to plummet.

This month, the supply of tether (USDT) has risen 4.7%, surpassing 71 billion coins. Usd coin (USDC) has also seen a 1.7% increase, with 43.16 billion coins in circulation. However, the supply of three other top stablecoins, namely DAI, pax dollar (USDP), and gemini dollar (GUSD), has diminished. DAI’s supply has decreased by 2.1% this month, while USDP has dipped 20.2% lower. Similarly, GUSD’s supply has also slid 2% lower over the last 30 days. In contrast, trueusd’s (TUSD) supply has increased by 22.5% over the last month, reaching 1.16 billion coins.

USDD and FRAX have also experienced increases, with USDD rising slightly by 0.2% over the past month and FRAX climbing by 1.1% compared to the previous month. Together, all nine aforementioned stablecoin assets make up 70.22% of the 24-hour trading volume. Before the Terra stablecoin depegging event, the stablecoin market was more predictable and exhibited steady growth. The declines in recent times, however, demonstrate the current unpredictable nature of the stablecoin market.

What do you think the future holds for stablecoins in light of recent supply fluctuations? Share your thoughts about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.