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The platform offers its users more text in a post than Twitter, but privacy issues have delayed its EU launch.

Meta launched Threads on July 5, 2023 [Dado Ruvic/Reuters]

Meta has officially launched Threads, its text-based rival to Twitter.

The app went live on Wednesday on Apple and Android app stores in more than 100 countries although its release in Europe has been delayed over data privacy concerns.

“Let’s do this. Welcome to Threads,” Meta Chief Executive and Facebook founder Mark Zuckerberg wrote in his first post on the new platform, which will run with no ads for now.

Here is what you need to know about the Threads platform:

Is Threads simply a clone of Twitter?

In some ways, yes. Much like Twitter, the new app features short text posts that users can like, share and reply to although some of the wording has been changed with retweets called “reposts” and tweets called “threads”.

Posts can be up to 500 characters long, almost double that of a tweet, and can include links, photos, and videos up to five minutes long, according to a Meta blog post.

One major difference from Twitter is Threads does not include any direct messaging capabilities.

The launch of Meta’s new product comes at a time when Elon Musk’s chaotic ownership of Twitter has led to questions about the future of the social media platform. Can Threads become the go-to communication channel for celebrities, companies, and politicians?

“It’ll take some time, but I think there should be a public conversations app with one billion+ people on it. Twitter has had the opportunity to do this but hasn’t nailed it. Hopefully, we will,” Zuckerberg said in a Threads post.

A spin-off from Instagram

Threads will want Twitter’s audience, and it is no startup. It is built on the back of Instagram, which is owned by Meta, and offers Threads access to a built-in audience of more than 2 billion users, sparing it the challenge of starting from scratch.

Users can log in using their Instagram credentials and follow the same accounts, potentially making it an easy addition to existing habits for Instagram users.

In a post published on Thursday, Instagram chief Adam Mosseri said the platform is built for “public conversations” and the company was looking to “bring some of what we’ve built for photos and videos on Instagram to Threads with the text”.

He added that Meta hoped people would engage with the platform in “friendly and open” conversations.

Mosseri also said Meta was looking to integrate the ActivityPub protocol, the technology behind the Mastodon server and network, which could potentially enable Instagram users to carry their followers into Threads.

Analysts said investors were excited over the possibility that Threads’ ties to Instagram might give it a built-in user base and advertising apparatus. That could siphon significant advertising revenue from rivals like Twitter.

Privacy issues around Threads

Threads may offer an upgrade on the Twitter experience, but its users’ privacy is significantly less protected than on its rival’s platform.

(Al Jazeera)

Meta has long been criticized for its handling of personal data, which it uses for targeted ads that help it rake in billions of dollars in profits every quarter.

This has delayed its entry into the European Union market, where there are strict rules designed to guard users’ privacy.

One such rule restricts platforms from transferring personal data between products, which Instagram plans to do with Threads. Meta was caught transferring data after it bought the messaging app WhatsApp, and European regulators will be on high alert to ensure that the company does not do the same with Threads.

Who has signed up?

Zuckerberg said 5 million users signed up for Threads in the first four hours after its launch.

Accounts were already active for celebrities such as Jennifer Lopez, Shakira, and Hugh Jackman as well as media outlets, including The Washington Post, Reuters, and The Economist.

SOURCE: AL JAZEERA AND NEWS AGENCIES

APE token hits record low amid NFT market struggles and controversies.

Investor confidence wanes as ApeCoin price plummets, signaling an uncertain future.

thenewscrypto

In a shocking turn of events, ApeCoin (APE), the utility and governance token of the APE ecosystem, has almost plummeted to its all-time low this year. The ApeCoin Price reached a staggering $1.99 this month, marking a significant decline for investors. The downward trend has been evident throughout the month, with a 34.04% decrease and a 6.13% dump just this week. 

Comparatively, APE’s peak in March 2022 at $39.40 seems like a distant memory, with the current price standing at a meager $2.11, representing a massive 94.65% decrease.

$APE

APE Price Chart, Source: Tradingview

What’s Behind The ApeCoin Price Red Forest?

The poor performance of the NFT market plays a substantial role in ApeCoin’s decline. The Azuki NFT collection creators recently raised approximately $40 million in their new launch. However, the excitement quickly turned sour when some major investors claimed they had been deceived. They argued that the newly launched collection closely resembled a previous one. It led to accusations of plagiarism or lack of originality.

Furthermore, the floor price for Bored Ape NFTs experienced a significant drop, falling to around 27 ETH on Sunday night. This decrease indicates a staggering 88% decline from its peak in April 2022. As the NFT market faces growing skepticism, some individuals are speculating that NFT-linked cryptocurrencies like ApeCoin may be on a trajectory toward zero.

ApeCoin Price finds itself near record lows, having lost over 90% of its value since its peak in April 2022. The coin’s trading volume stands at $46,589,301, reflecting a 21.69% decrease within a 24-hour period.

Meanwhile today, the coin is trying to showcase its very slow recovery, the price stands at $2.08 with a surge of 0.09%.

Finally, While the NFT market initially garnered considerable attention and enthusiasm, recent controversies and market downturns have led to a loss of investor confidence.#altcoins. #apecoin #ape #crypto2023

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PEPE has climbed up the top gainers’ charts again after closing June with an 85% price surge. 

A slight drop in Active Addresses also signals a potential price correction in the coming days.

Age Consumed spiked to a two-month high on Monday suggesting that many holders are taking advantage of the price surge to book profits. 

beincrypto.com

Pepe (PEPE) made a surprising resurgence in late June, with a resounding 85% price surge in the second half of the month. However, on-chain data now flashes mixed signals. What next for PEPE price in the coming days? 

Between June 15 and July 4, the PEPE price is up 85%. While bullish speculators are filling up their bags, on-chain data shows that some investors have started to book profits. Will it trigger a price correction in the coming weeks? 

PEPE Long-term Holders are Booking Profits

PEPE price has dominated the meme-coin price charts in recent weeks. But now, some holders are now taking advantage of the high prices to book profits.

On Monday, PEPE recorded an astronomic spike in Age Consumed. The chart below shows the PEPE Age Consumed soared to 365 trillion on July 3. 

What Next For PEPE, June 2023 | Age Consumed | Source: Santiment

Age Consumed evaluates the trading sentiment among long-term investors. It is calculated by aggregating the number of recently moved coins multiplied by the number of days spent in their previous wallet addresses. 

As seen above, sudden spikes in Age Consumed during a price surge indicate that many investors are offloading their holdings. 

According to the historical data, the last time PEPE Age Consumed rose to this level was May 19. And notably, it was quickly followed by a 30% price correction. 

If this pattern reoccurs, PEPE holders can anticipate another price downside over the next few weeks. 

Network Activity Has Slowed Down this Week

Furthermore, despite the recent price gains, $PEPE has actually registered a significant decline in user activity this week. This suggests that the activities of bullish speculators are the major driver behind the price surge.  

As shown below, $PEPE price has increased by 16% between June 28 and July 4. But, a deeper analysis of the PEPE Daily Active Addresses data shows that user activity has slowed by 24%. 

What Next For PEPE, June 2023 | Active Addresses | Source: Santiment

In concise terms, the Daily Active Addresses (7d) sums up the number of unique addresses that carry out transactions over a seven-day period. When it increases during a price rally, as seen above, it indicates that price gains are mostly driven by market speculation rather than underlying economic activity. 

Unless user activity increases significantly to match the price uptrend, PEPE could retrace again in the coming weeks. 

PEPE Price Prediction: Another Retracement Below $0.0000010

Considering the factors highlighted above, the bears will likely trigger a retracement below $0.0000010 in terms of what is next for the PEPE price. 

But first, the 13,670 investors that bought 136.09 trillion at the minimum price of $0.0000010 could keep the bears at bay. 

But if that support level caves, the PEPE price could drop to $0.0000008 again. 

What Next For PEPE, June 2023 | Active Addresses | Source: IntoTheBlock

Conversely, if PEPE can attract enough user activity, the price rally could continue toward 0.000002. Although, the 35,430 investors that bought 80.09 trillion PEPE tokens at the maximum price of $0.000002 could halt the rally. 

Nevertheless, the bulls push the rally toward $0.000003 if that resistance level does not hold.#pepe #crypto2023 #dyor #Binance

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DISCLAIMER

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

The current price of Pepe 2.0 is  $0.000000114.

In the past 24 hours, Pepe 2.0 has witnessed a staggering surge of over 150%.

The arrival of PEPE 2.0 has injected a dose of excitement into the memecoin game. With its impressive achievements right after its launch, this newcomer has quickly become a subject of intense hype and anticipation. Pepe 2.0 (PEPE2.0) has taken the crypto market by storm, creating a frenzy with its exceptional price surge in meme coins. 

The strong historical presence and reputation of the original Pepe token have played a crucial role in fueling the immense popularity of PEPE2.0, capturing the attention of investors and enthusiasts. The project's ongoing development holds considerable weight in determining the value of PEPE2.0.  With a remarkable surge of over 1000% since its inception, PEPE 2.0 has taken the market by storm and set new growth. 

 PEPE2.0 price chart (source:CoinMarketCap)

CoinMarketCap reports the current price of Pepe 2.0 as $0.000000114, with a remarkable 24-hour trading volume of $31,336,710. In the past 24 hours, Pepe 2.0 has witnessed a staggering surge of over 150%. Considering the volatility commonly seen in meme coins, it is important to note that PEPE 2.0 is still in its early stages. Similar to the original PEPE token, it does not currently have designated use cases.

Amidst Pepe 2.0’s prominent rise, other meme coins are also experiencing bullish trends. Thug Life ($THUG) and Wall Street Memes ($WSM) have emerged as noteworthy projects, attracting considerable attention and interest. #pepe #crypto2023 #crypto #Marketupdate

$PEPE $BTC