Crypto
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De-pegged UST sends LUNA tumbling: Token price down almost 95% in the last 24 hours
LUNA has seen an extended downturn as investors rush to sell off The token has lost more than 90% on the day, sinking below $2.00 Crypto markets are seeing the worst of volatility caused by their correlation with stock markets, which are, on the other hand reacting to the US Federal Reserve’s aggressive monetary policy against inflation. However, some are feeling the pinch more than others, and the Terra ecosystem is one such network as it is barely holding on for survival in this bear market. Terra’s LUNA token has seen a large-scale sell-offs as holders rush to cut their losses and dump the asset. This comes after the LUNA/USD pair plunged to single-digit figures – a month after hitting as high as $120 in early April. CoinMarketCap data shows that LUNA is trading below at $2.0...
Crypto Crisis: Over $1 billion liquid in 24 hours
The crypto market has witnessed a massive sell-off in the past 24 hours, triggered by the recent crash of Bitcoin (BTC) below $30,000. As a result, the positions of hundreds of thousands of crypto traders were liquidated. For example, data from Coinglass shows that more than $1 billion in trading positions has been wiped out in the past 24 hours. Multi-million dollar wipe out Traders expecting a bounce were hit the hardest by the correction, as nearly $750 million in long positions were liquidated over the past day. The volatility also took a toll on those betting crypto will fall in a straight line, as nearly $200 million in short positions were wiped out over the same period. With bearish momentum taking over the crypto markets, traders trying to time Ethereum (ETH) suffered its biggest ...
Top tokens under $1 not to miss on May 11
TRX, MATIC, and CRO are some of the best tokens you can get under $1. Each project has undergone numerous updates and developments to make it stand out. They are all currently at an affordable price point and can climb much further in value going forward. On March 9, 2022, the Bitrue cryptocurrency exchange added the USDC cryptocurrency. What this means is that users can deposit and withdraw USDC on the TRON blockchain and mix and match ERC-20, TRC-20, and SPL USDC. On the same day, Meta (formerly Facebook) launched their digital collectibles powered by the Polygon blockchain. Select creators and collectors can now showcase their non-fungible tokens (NFTs) to a wider audience. On May 10, 2022, Cronos successfully upgraded its mainnet. Specifically, it upgraded to v0.7.0 “Huy...
Sculptor aims to use the Fearless Girl statue to empower women in crypto
The creator of the Fearless Girl statue in New York, which stands for the empowerment of women, has brought the emblem into the crypto space by dropping a nonfungible token (NFT) counterpart for the symbolic art piece. In an interview with Cointelegraph, sculptor Kristen Visbal told the story behind the artwork’s significance and how she aims to use it to empower women in crypto. According to Visbal, the piece is a symbol that fights for equality, the need for gender collaboration and parity. She explained that: “Fearless Girl legally stands for the empowerment of women, equality, equal pay, supporting women in leadership positions, the education of women, education in the workplace for the prevention of prejudice, and the general well-being of women.” Now, with the advent of NFTs, V...
Rising global adoption positions crypto perfectly for use in retail
Even though the cryptocurrency market seems to be going through a bit of a lull at the moment, there’s no denying the fact that the industry has grown from strength to strength over the last few years, especially from an adoption perspective. To this point, a recent study revealed that the number of adults in the United States using digital assets for everyday purchases will increase by 70% by the end of the year when compared to 2021, with the metric rising from 1.08 million to 3.6 million users. The study’s chief author suggests that as the crypto market’s volatility continues to reduce — thanks to the growing use of stablecoins and central bank digital currencies (CBDCs) — more and more people will look at these offerings as a legitimate means of payment. In fact, by the end of 20...
Bitcoin 2022 — Will the real maximalists please stand up?
As I go about the Miami conference, I wonder, Aside from some of the conference speakers, where are these Bitcoin maximalists I keep hearing so much about? When I tell the customs official I’m going to Miami for the Bitcoin 2022 conference, there seems to be a light in the man’s eyes. He peppers me with questions, even though I’d gotten up at 5 am that day to fly, and my smartwatch is telling me that my energy levels are only at 70%. The customs official has way more interest in the subject than I can handle. Why am I going to the conference? The philosophy of the event fascinates me — it’s a Bitcoin-only conference — with the divide between Bitcoin and the rest of the cryptocurrency world growing year by year. I don’t go into that much detail with the customs official, though. Sometimes, ...
Bank of Israel claims ‘public support’ for its CBDC project
Despite the fact that it still hasn’t made a final decision on the launch of the “digital shekel,” Israel’s central bank reported that the public feedback on the project is mainly positive. According to Reuters, on Monday, The Bank of Israel summarized the results of the public consultation on its central bank digital currency (CBDC) plans. It has received 33 responses from different sectors, with half of them coming from abroad and 17 from the domestic fintech community. While specifying that the final decision on the project’s fate is yet to be made, it claimed: “All of the responses to the public consultation indicate support for continued research regarding the various implications on the payments market, financial and monetary stability, legal and technological issues, and more....
Delayed crypto ETFs expected to launch on Cboe Australia this Thursday
Cboe Australia said that the downstream issues that had caused the delay have been resolved EFT Securities, in collaboration with 21Shares, will launch a Bitcoin and ETH spot ETF Cosmos Asset Management will debut a Bitcoin ETF Late last month, it was expected that Australia would debut three crypto exchange-traded funds (ETFs) that were set for listing on Cboe Global Market’s Cboe Australia. Two of the three ETFs were a Bitcoin and Ether spot ETF by 21Shares (in collaboration with ETF Securities), and the third was a Bitcoin EFT offered by Cosmos Asset Management. However, cutting it late, near the day of launch set for April 27, the Cboe exchange announced that the three ETFs had been delayed. Back on this Thursday Cboe Australia has now provided an update and says the three ETPs w...
NEAR Foundation partners with Kenyan blockchain community Sankore to build a regional hub
The regional hub will focus on blockchain innovation, talent development and community education in Africa NEAR Foundation CEO Marieke Flament said the collaboration presents an opportunity to work with local talent NEAR Foundation has announced the launch of a regional hub in partnership with Kenyan blockchain community Sankore. The Swiss non-profit organisation is responsible for managing the evolution and governance of the NEAR protocol, a smart contract-capable blockchain launched in 2020. The hub would be backed by a core team of four people and led by Sankore founder Kevin Imani. It would support blockchain innovation, educate the communities, and enhance talent development in the larger continent of Africa. The hub will also feature the Sankore Bounty ecosystem, have an incubation p...
Binance suspends LUNA and UST withdrawals
Binance, a crypto exchange, has announced that it has suspended the withdrawal of UST and LUNA stablecoins temporarily due to bottleneck processes. This comes after the TerraUSD (UST) stablecoin de-pegged from the US dollar causing its price and that of LUNA to drop drastically. LUNA, for instance, has dropped by more than 85% today. In an official announcement issued yesterday, Binance said: ‘’Withdrawals for LUNA and UST tokens on the Terra (LUNA) network were temporarily suspended on 2022-05-10 at 02:20 AM (UTC) due to a high volume of pending withdrawal transactions. This is caused by network slowness and congestion. Binance will reopen withdrawals for these tokens once we deem the network to be stable and the volume of pending withdrawals has reduced. We will not notify users in a fur...
VeChain Foundation reports $1.2B crypto treasury… but spent just $4M in Q1
The VeChain Foundation has released its financial report for Q1 2022 showing that the project amassed an impressive $1.2 billion war chest but only spent about $4.1 million in the quarter. VeChain (VET) is a blockchain project designed to enhance supply chain management.. The Foundation’s May 10 financial report for Q1 2022 outlines its balance sheet as of March 31 and how it spent funds through the quarter. Although the treasury opened the year with $1.37 billion in assets between stablecoins, Bitcoin (BTC), Ether (ETH), and VET, it ended with $1.2 billion. The report states that most of the losses were incurred “due to crypto market fluctuations and other VeChain Foundation outgoings.” The BTC price has fallen 34% since, ETH has fallen 36%, and VET has fallen 54% since Dec. 31, 2021 when...
Nifty News: Azuki founder under fire, CryptoPunk sells for a major loss…
The founder of the $723.5 million Azuki NFT project who goes by “Zagabond” online caused a sh*tstorm yesterday after revealing that they had previously worked on three noabandoned NFT projects. After facing strong backlash from the NFT community, they have since apologized for their “shortcomings.” The three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and Cryptozunks. Zagabond suggested all three had failed due to a lack of community support , and other factors such as team members leaving or high gas fees on Ethereum (ETH). After releasing the blog via Twitter, most replies were in support of Zagabond’s honesty on the trial and error path that led to Azuki NFTs, however other sections of the NFT community weren’t as pleased. Really don’t understand all the...
