The past week in the decentralized finance (DeFi) ecosystem saw many new developments, including the rebirth of the Terra 2.0 blockchain. Meanwhile, Binance’s incubation platform Binance Labs launched a $500 million fund to support and promote Web3 adoption. Singapore’s central bank partnered with JP Morgan to explore DeFi applications in wholesale funding markets by establishing …
Monthly archives: June 2022
Total crypto market cap risks a dip below $1 trillion if these 3 metrics don’t improve
The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just …
Alchemy announces support for Solana Web3 applications the day after blockchain halted
In an announcement published by Alchemy just one day after the Solana network temporarily halted on June 1, the Web3 development platform and infrastructure provider announced its support for the controversial blockchain. Caused by a bug that made it impossible to reach network consensus, the Solana blockchain was halted for approximately four hours on Wednesday. …
Early Terra Investor, Jump Crypto, Concludes USTs Depeg Was Accelerated by A Strong BTC Market Selloff
Summary: Jump Crypto has released a report reviewing the collapse of UST. According to their analysis, UST’s depeg was triggered by a sequence of trades in the UST/3CRV Curve pool. UST outflows from Anchor Protocol soon followed, further straining the stablecoin’s stability. The strong market sell-off that followed accelerated the depegging of UST in the …
TerraForm Labs and Large Early LUNA Holders Dumped on Retail Before USTs Collapse – Report
Suggested title: The team at Arcane Research has suggested that early LUNA supply was controlled by a few holders and TerraForm labs, who have made tremendous profits selling the digital asset between 2020 and May 5th, 2022. In addition, TerraUSD (UST), worked as the perfect exit liquidity similar to a prolonged pump and dump scheme. …
El Salvador delays the launch of its Bitcoin bonds
El Salvador’s Bitcoin bonds could not be launched any time soon. The delay could be attributed to the slump in cryptocurrency prices, given the global cryptocurrency market is over 50% below the all-time high of over $3 trillion created in October last year. The Salvadoran Finance Minister, Alejandro Zelaya, has said that it was not …
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New York imposes a ban on proof-of-work Bitcoin mining
The state of New York has approved a controversial ban on proof-of-work mining. The bill will impose a ban on any new Bitcoin mining activities in the state. Under this bill, New York will be in the same league as China, which also banned Bitcoin mining last year. New York bans PoW crypto mining The …
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Former BitMEX CEO says ETH could hit $10,000 by the end of 2022
Arthur Hayes, the former CEO of BitMEX, has said that the price of Ether (ETH) could reach $10,000 by the end of the year. Ethereum has witnessed a massive decline since the beginning of the year, but Hayes notes that a bullish trend could be formed over the coming months. Ether could reach $10,000 by …
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Everything You Need to Know About Luna Airdrop
Luna 2.0 is the brand new token of the Terra blockchain, launched in an attempt to save the Terra ecosystem after the crash of the UST stablecoin. A total of 1 billion new Luna 2.0 tokens were launched, which were to be airdropped to the investors that were affected by the massive crash. On 26th …
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Tim Draper Stands By His $250,000 Bitcoin Price Predictions
The pandemic might have turned our world upside down and changed a few things, but it hasn’t wavered Tim Draper’s confidence in Bitcoin’s potential. In one of his recent interviews, the billionaire crypto-enthusiast, who was also an early investor in Skype, reiterated what he said about Bitcoin back in 2018. In his interview with Scott …
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Central African Republic to tokenize the nation’s natural resources
The Central African Republic (CAR) has announced plans to proceed with its ambitious Sango Project by tokenizing access to the country’s abundant natural resources. President Faustin-Archange Touadéra posted a photograph of a statement on his official Twitter account Thursday detailing the next steps in the project. The statement, signed by Minister of State and cabinet …
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5 metrics to monitor before investing in crypto during a bear market
Cryptocurrency bear markets destroy portfolio value and they have a dangerous tendency to drag on for longer than anyone expects. Fortunately, one of the silver linings of market-wide pullbacks is that it gives investors time to re-focus and spend time researching projects that could thrive when the trend turns bullish again. Here’s five areas to focus …
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The crypto market dropped in May, but June has a silver lining
May 2022 was not for the faint-hearted. Even the most embattled and experienced crypto traders were tested in the first two weeks of the month on a brutal drop following the United States Federal Reserve’s announcement that interest rates would be rising by 0.5%. Crypto used to exhibit a lower correlation with real-world events and …
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Crypto Biz: Helicopter CBDC money rains on Shenzhen, May 26—June 1
China’s pandemic-hit economy needs all the help it can get after a surge in COVID-19 infections triggered mass lockdowns across the country. In an attempt to revive consumption, the southern city of Shenzhen used Beijing’s central bank digital currency, or CBDC, to airdrop free money to local residents. A similar strategy was used in the …
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Is Bitcoin Dice A Game That Is Worth Checking Out?
Is it worth betting on BTC dice for gain? There are certainly other ways of earning Bitcoin, many with little or no risk. Bitcoin dice is a game of chance. It requires you to throw dice and predict whether the value is lower or higher than some number you predicted. Your winnings depend on fate …
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