Based on the latest data, Ethena’s yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $770 million. Ethena’s USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug. 30, the stablecoin economy expanded from …
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On Thursday, the first Solana spot exchange-traded fund (ETF) product raised over $2.75 million during its public offering on B3, the Brazilian stock exchange. The product, previously approved for trading by the Brazilian securities regulator (CVM), is offered by QR Asset, which also has a bitcoin-based ETF product. The offering managed to raise only 15% …
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On Thursday, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) experienced $71.73 million in outflows, with reductions seen across five distinct funds. Notably, Grayscale’s ETHE led the spot ether ETFs, which faced $1.77 million in outflows, by losing $5.35 million. Bitcoin and Ether ETFs Face Outflows During the trading sessions on Aug. 29, the collective …
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A widely followed crypto analyst believes that Bitcoin (BTC) is primed for an explosive breakout that could take it to new all-time highs (ATHs). Pseudonymous crypto trader Inmortal tells his 215,300 followers on the social media platform X that Bitcoin could flip its ATH of about $74,000 into support within four months. “New BTC all …
A crypto analyst who nailed Bitcoin’s 2018 bottom six months in advance is turning bullish on Ethereum (ETH). The analyst pseudonymously known as Bluntz tells his 273,300 followers on the social media platform X that the low for Ethereum is potentially in now that ETH tagged its lowest level in six months in August. According …
Largely followed crypto analyst Altcoin Sherpa is warning that more weakness is ahead for one large-cap memecoin. The pseudonymous trader tells his 221,500 followers on the social media platform X that Dogecoin (DOGE) could depreciate by over 10% from its current level, even after bleeding more than 20% this month. Sherpa says, “Pains me to …
Leading stock exchange Nasdaq intends to give investors another way to gain exposure to crypto. Nasdaq announced in an Aug. 27 press release that it intends to list and trade Bitcoin index options pending regulatory approval. The company said it has filed for its Nasdaq Bitcoin Index Options (XBTX) with the U.S. Securities and Exchange …
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What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge, powered by Access Protocol. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Important: You must lock a minimum of 20,000 ACS If you don’t …
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The US Securities and Exchange Commission (SEC) has highlighted the need for retail investors to gain more timely access to fund portfolio data. However, the answer may be at odds with the SEC’s recent approach, as the data could be significantly enhanced through the use of blockchain oracles like Chainlink. As Commissioner Jaime E. Lizárraga …
Quick Take Farside data shows that Bitcoin ETFs have experienced a third consecutive day of outflows, with a total of $71.8 million withdrawn on Aug. 29. Grayscale’s GBTC saw an outflow of $22.7 million, Fidelity’s FBTC at $31.1 million and Bitwise’s BITB at $8.1 million. However, ARK’s ARKB ETF saw a $5.3 million inflow, halting …
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The decentralized finance platform Radix Network announced a 15% workforce reduction on Aug. 28. CEO Piers Ridyard stated that the decision was made to decrease overhead costs. Ridyard said that while core projects like Flash Liquidity and MFA are expected to continue, users may experience disruptions due to the changes. RDX Works Seeks to Reduce …
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The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000 following a solicitation on Facebook that transitioned to communication over Whatsapp. The regulator has flagged this as a potential …
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The New York-based digital asset manager, Parafi Capital, has secured $120 million to invest in general partner stakes of crypto funds. These funds focus on specific market segments, strategies, or geographic locations. With this funding, Parafi Capital aims to build a portfolio of 30-50 general partner stakes in crypto funds. Parafi Capital Prioritizes General Partner …
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Omnisient, a South African fintech startup, secured a $7.5 million Series A investment from Arise to support its mission of enhancing financial inclusion across Africa and beyond. The investment will help Omnisient expand its technology to African, European, and U.S. markets. The startup is also seeking strategic partners in the U.S. market and retail media …
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Naveen Mallela, global co-head of Onyx, JPMorgan’s blockchain and digital currency unit, highlighted the rapid adoption of blockchain technology in India, particularly after the 2022 launch of the central bank digital currency (CBDC), the e-rupee. He noted that CBDCs represent a significant advancement for Indian payments, positioning them as the next step in the evolution …
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