Troubled crypto lending firm Celsius is putting their best foot forward to recover operations alongside CEO Alex Mashinsky, who currently stays in the United States, the company has claimed. A spokesperson for Celsius has denied rumors that the company’s CEO tried to flee the U.S. last week amid the ongoing liquidity crisis of the Celsius […]
Bitcoin’s (BTC) current bear market is one of the worst, according to a report by on-chain analytics firm Glassnode. This was the first time in history that the Mayer Multiple slipped below the previous cycle’s low. Bitcoin’s fall below $20,000 on June 18 also marked the biggest loss ever booked by investors in a single […]
The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62. On June 27, LUNA2’s rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30. […]
Amid the Chinese government continuing to celebrate the massive decline of cryptocurrency markets this year, one key local blockchain expert has referred to crypto as a Ponzi scheme. Yifan He, CEO of Red Date Technology — a major tech firm involved in the development of China’s major blockchain project called the Blockchain Service Network (BSN) […]
Dogecoin (DOGE) looks ready to extend its rebound move despite the current crypto bear market. 79% chances DOGE will extend its rebound move DOGE’s price appears to have been painting a bump-and-run-reversal (BARR) bottom since May 11, a technical pattern that points to extended trend reversals in a bear market. It consists of three successful phases: […]
XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol. Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the […]
The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH). The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge. Starting at about 7:08 am until 7:26 am ET, 11 […]
Swan Bitcoin CEO Cory Klippsten believes that the liquidity crisis involving Celsius Network may be just the beginning of a broader collapse in the crypto lending space. “It doesn’t matter if you’re an amazing CeFi lending platform, taking these retail deposits and lending them out the back end and giving them yield, or a terrible […]
Polygon (MATIC) took a break from its prevailing bearish course, posting one of the sharpest rebounds in the crypto market this week. Notably, MATIC’s price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even […]
Bitcoin (BTC) continues to face a tough battle near the psychological level of $20,000 as the bulls and the bears attempt to assert their supremacy. Trading firm QCP Capital said in their latest market circular that funding rates on derivatives markets were stable and bearish conditions were fading. Another ray of hope for the Bitcoin […]
On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its v4 update. The firm cites the Cosmos blockchain’s decentralization and performance as reasons for being a “best fit” for building […]
Major stablecoin company Tether is expanding its stablecoin offering with a new cryptocurrency pegged to the British pound sterling (GBP). Tether officially announced on Wednesday that its upcoming GBP-pegged stablecoin, GBPT, will launch in early July and will initially be supported by the Ethereum blockchain. GBPT will be a stable digital currency pegged on the […]
On June 23, the CEO of Solana Labs, Anatoly Yakovenko, announced in New York the launch of a software development kit for Web3 programs called “Solana Mobile Stack (SMS),” as well as the delivery date of its new crypto phone: The “Saga.” According to Yakovenko, Solana’s new smartphone will cost approximately $1,000 and will be […]
