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SCARY (SCY), price rises by more 1000% over the weekend. What is driving the Bull Run?

SCARY (SCY) outperformed the majority of cryptocurrencies over the weekend by rallying by more than 1000% while the majority of coins including bitcoin dropped. The coin traded at $0. today. 02642 at the time of writing, after a 24-hour surge of about 52%. What Is SCARY (SCY),? Before we get into the cause of the…

SCARY (SCY) outperformed the majority of cryptocurrencies over the weekend by rallying by more than 1000% while the majority of coins including bitcoin dropped.

The coin traded at $0. today. 02642 at the time of writing, after a 24-hour surge of about 52%.

What Is SCARY (SCY),?

Before we get into the cause of the Bull Run, let’s first define SCARY.

SCARY, a blockchain-based Gamefi platform, is an innovative integrated platform that combines a immersive NFT, Farm and adventures quests to conquer $SCY within the Monsters Metaverse.

It was launched in December 2021 and SCY is its native token.

In the SCARY game, players can choose Scary Door and build empires with the SCY tokens. They can battle monsters for a prize or challenge them to win SCY tokens.

It features two different classes of monsters: Newborn monsters that are born by hatching eggs and Genesis monsters that have unique abilities and skills that Newborn don’t have; only 1000 of them will ever be made.

The game features a fully functioning NFT marketplace that allows players to buy Scary Monsters. At the time of writing each cost 0.2BNB which is roughly $80, which is a bit expensive.

A random system shows three doors that your monster can visit after you start the game. Similar to Monster Inc movies, where monsters visit various doors, this is similar to Monster Inc. You can choose to open a particular door to win different rewards. Additionally, Doors in the game receive 10% of all rewards earned by visiting Monsters.

To keep playing the game without taxes or gas fees, the players must hold at least 1000 SCY tokens. However, the game is currently under development with the beta version anticipated to come in Q1 2022, stay updated.

Why has the SCY price risen?

The recent SCARY migration Scaryswa to a new contract address Scaryswa is one of the main reasons for the price rise. It’s a decentralized exchange.

Our contract migration is live on https://t.co/uqDel09YrK swap ratio is SCY 1:5 SCARY! Scary Doors Game: Enjoy the farms and pools! @AutoSharkFin @autofarmnetwork @Guitar_swap @Farmaggedon_ @RoboWolf8 @CoinTigerEX #Staking #farming #Pools pic.twitter.com/xGQ1pyCrYN

— ScarySwap (@Scaary_Games) February 17, 2022

After SCY was released in December, the token nosedived with the rest of the cryptocurrencies following a continuous crypto bloodbath that has dominated the start of 2022, partly because of the US FED saying it shall increase interest rates in the coming months.

With the game-changing move of the SCY token and the fully functional NFT market, the SCY token’s price is certain to go through a massive Bull Run.

Furthermore, if the team delivers on its beta version promise of the game in Q1 2022, then SCY can rise to over a $1 million valuation.

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BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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