The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June …
Monthly archives: June 2022
Is Bitcoin an Inflation Hedge? BTC and Crypto Market Dip Amid Reports of Rising Cost of Living in the US
A new report by the U.S. Bureau of Labor Statistics shows that inflation is once again on the rise, causing crypto markets and leading digital asset Bitcoin (BTC) to dip. According to the newest Consumer Price Index Summary, which tracks the value of goods and services, overall prices rose 8.6% year-over-year in May, marking the …
What are investment DAOs and how do they work?
What is an investment DAO? A decentralized autonomous organization (DAO) that raises and invests capital into assets on behalf of its community is an investment DAO. Investment DAOs tap into the power of Web3 to democratize the investment process and make it more inclusive. DAOs can have their units in tokens that are listed on …
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Axie Infinity: AXS price risks deeper losses despite 90% drawdown already
Axie Infinity (AXS) has dropped by roughly 90% after peaking out at $172 in November 2021. AXS’s sharp correction has made it one of the worst performing digital assets among the top-ranking cryptocurrencies. Moreover, it could undergo further declines in the coming months, according to a mix of technical and fundamental catalysts listed below. Low …
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Tron DAO Buys $50M Worth of Bitcoin and TRX to add to USDD Reserves
Key takeaways: Tron DAO Reserve has announced that it has purchased Bitcoin and TRX worth $50 million to add to USDD’s reserves. USDD is currently overcollateralized to the tune of 197%. The stablecoin of USDD is now backed by 14,040.6 Bitcoin, 140 million USDT, and 1.906 billion in TRX. The purchase of Bitcoin and TRX …
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Snoop Dogg, Justin Sun Up Jack Dorsey’s Web5 by Saying they Are Working on Web6
Key takeaways: Snoop Dogg and Justin Sun have stated that they are working on Web6. Jack Dorsey had earlier announced that TBD was working on Web5 on the Bitcoin Network. The founder and former CEO of Tron, Justin Sun, has announced via Twitter that he is working on Web6. Mr. Sun’s Tweet comes on the …
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BlockFi hires lobbyists to streamline talks with policymakers
👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Renowned crypto lending platform BlockFi has hired lobbyists from Arnold & Porter Kaye Scholer LLP to work on regulatory and tax policy for financial service providers in digital assets, Reuters reported. BlockFi has created a five-person policy team with Arnold & …
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US Inflation Spiked 8.6%, Highest in 40-Years — Economist Says We’re Not ‘Seeing Any Signs That We’re in the Clear’
After April’s consumer price index (CPI) report was published, a number of American economists and bureaucrats said that inflation had peaked and it was possible that inflation would subside. However, statistics from the U.S. Labor Department indicate the CPI increased 8.6% from a year earlier, as the month of May’s inflation data reached another lifetime …
Biggest Movers: WAVES, NEAR Hit Multi-Week Lows on Saturday
NEAR fell to a one-month low to start the weekend, as prices moved below their long-term support point. WAVES was also lower during Saturday’s session, falling by as much as 14%. Overall, crypto markets are down nearly 5% as of writing. Near Protocol (NEAR) NEAR was one of the most notable movers to start the …
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Bitcoin, Ethereum Technical Analysis: ETH Falls to 15-Month Low to Start the Weekend
Crypto prices plunged as the weekend commenced, following yesterday’s U.S. inflation report, which came in at a 40-year high of 8.6%. ETH fell to its lowest point in fifteen months, while BTC dropped below $29,000. Bitcoin Following days of consolidation, BTC finally moved late on Friday into Saturday, as crypto prices responded to the latest …
Mars4 Metaverse is Selling Fast in Japan
sponsored The cryptocurrency market is stagnant. Investors are cautious and hesitant to make investments. Some initiatives, however, thrive even in such circumstances: Mars4, a play-to-earn project, has seen an upsurge in NFT sales. Mars4 is growing thanks to scheduled releases (such as a game demo) and some help from Japanese KOLs. Mars4, a metaverse game, …
Ripple Competitor and MoneyGram Roll Out Zero-Fee Money Transfer Service Using USDC Stablecoin
Ripple challenger Stellar (XLM) is teaming up with money transferring service MoneyGram to launch a new global crypto-to-cash protocol featuring stablecoin USD Coin (USDC). According to a recent press release, the duo plans to create a system that will act as a bridge between fiat money and cryptocurrencies to make remittances easier, enhancing the overall …
Digital Assets Exchange Crypto.com Lists Three Little-Known Altcoins
Singapore-based digital asset exchange Crypto.com is continuing its listing spree and has rolled out support for three more low-cap altcoins. The exchange announces the listing of EPX, the native token for Ellipsis, a low-slippage stablecoin swapping platform built on the BNB Chain. The project launched its 2.0 version in April, which introduced various updates to …
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Bitcoin and banking’s differing energy narratives are a matter of perspective
The Carbon Bankroll Report was released on May 17 as a collaboration among the Climate Safe Lending Network, The Outdoor Policy Outfit and Bank FWD. The collaboration made it possible to calculate the emissions generated due to a company’s cash and investments, such as cash, cash equivalents and marketable securities. The report revealed that for …
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Centralized vs. decentralized digital networks: Key differences
A decentralized digital network is not controlled by a central authority. Instead, control is distributed among its users. There is no single server or point of command. Rather, the network is run on a peer-to-peer basis, with each user wielding equal power and responsibility. A great example of a decentralized network is the internet, itself, …
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