crypto blog
Finance Redefined: DeFi ‘Godfather’ Cronje quits, CAKE launches $100M venture arm and more
The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with. CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34% after activating synthetic assets and Polygon network suffered an extended outage post new upgrade that impacted its price momentum. DeFi “Godfather” Cronje quits as TVL and tokens tank for related projects DeFi architect, Fantom Foundation technical adviser and Yearn.finance founder Andre Cronje has left the decentralized finance space reeling after deactivating his Twitter account. Cron...
Haven Protocol (XHV) shows strong signs of bottoming out after crashing 90%
Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five days of trading. What’s pumping Haven Protocol? XHV’s price surged by up to 107% week-to-date to climb above $3.60 on March 11, its highest level in more than three months. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV’s value dropping from nearly $20 in November 2021 to as low as $1.60 in early February 2022 — an approximately 90% decline. XHV/USD weekly price chart. Source: TradingView Traders started returning to the Haven Protocol market against the prospects of two macroeconomic scenarios: U.S. President Joe Biden’s executive order that focuses on cryptocurrencies and hardline western sanctions on Russian oligarchs amid an ...
Fantom Foundation issues clarification statement about departure of Andre Cronje and Anton Nell
Recently, media outlet Rekt.news made striking accusations about Fantom Opera, a layer-1 blockchain, after the foundation’s technical adviser Andre Cronje and senior solutions architect Anton Nell announced they were leaving the crypto space entirely. Almost immediately, concerns from the community arose after Nell tweeted, “There are around ~25 apps and services that we are terminating on 03 April 2022.” In the now-deleted Rekt article, it alleged the following: “Fantom, Solidly, SpookySwap, Abracadabra, Geist: multiple projects all entwined into a system designed to extract maximum value for a small set of insiders who are now steadily exiting the stage.” However, on Friday, the Fantom Foundation published a statement regarding alleged “factual inaccuracies,” “debunked claims” ...
Price analysis 3/11: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) has been volatile in the past few days but the long-term investors seem to be using the current weakness to buy. According to Whale Alert and CryptoQuant, about 30,000 BTC left Coinbase and was deposited in an unknown wallet. It is speculated to be a genuine purchase and not an in-house transaction. Although investors may be bullish for the long term, the short-term picture remains questionable. Stack Funds said in their recent weekly research report that they “expect sideways trading and possibly a potential dip” in the short term due to the increase in inflation and the lack of clarity regarding the conflict in Ukraine. Daily cryptocurrency market performance. Source: Coin360 While Bitcoin has been volatile, gold-backed crypto assets have made a strong showing in 2022...
UK’s financial regulator orders shut down of crypto ATMs
The FCA says all crypto ATMs in the UK have been operating illegally The regulator, therefore, ordered operators of crypto-to-cash machines to halt their services or face legal consequences The FCA, UK’s financial conduct regulator, has banned the operation of crypto ATMs in the country. The financial authority stated in a Friday notice that it had asked all operators of these machines to suspend their activities or “face enforcement action.” No crypto ATM operator has received approval The order comes on the grounds that the operators have not registered with the regulator. The FCA pointed out that it has not yet given the green light to offer crypto ATM services to any of the crypto-entities that have completed registration. “Crypto ATMs offering crypto asset exch...
The bests meme-coins you can buy on March 11, 2022: DOGE, SHIB and ELON
DOGE, SHIB, and ELON are all meme-based tokens Each token is at a solid price point for buying. Every one of these tokens has the potential to increase in value. Some of the most popular meme-based cryptocurrency tokens you can buy include Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (ELON). We are going to go over each token individually as a means of showcasing which one is the right purchase for you. Should you buy Dogecoin (DOGE)? On March 11, 2022, Dogecoin (DOGE) had a value of $0.11716. The all-time high value of Dogecoin (DOGE) was on May 8, 2021, when the token reached a value of $0.731578. When we go over the performance of the token throughout the previous month, Dogecoin (DOGE) had its highest value point on February 7 at $0.1683. Its lowest value point was on February 2...
Polygon users suffer failed NFT transactions as the network experiences downtime
The network has had an issue affecting one of its two Polygon PoS chain layers, Heimdall Polygon’s deployment on OpenSea was affected, making users unable to complete NFT transactions Speed and cost-focused Ethereum layer two scaling solution Polygon overnight suffered a recent outage. The network was down for more than 13 hours, leaving users worried and wondering why it was taking the developers so long to fix the said bug. The Issue The Polygon team informed users yesterday at 4.20 pm UTC that it anticipated the network would be down starting around 5:50 pm UTC, as one of its three consensus layers needed maintenance. It noted that the proof of stake users would be the casualties. Also, since the last time Polygon had a major bug, $24 billion of user funds were left at risk, the P...
Bitfinex refuses to freeze crypto belonging to non-sanctioned Russians
Amid global businesses boycotting the Russian residents over military conflict in Ukraine, some companies in the cryptocurrency industry stand up for the rights of non-sanctioned Russian citizens. Bitfinex, an affiliate firm of the world’s largest stablecoin provider, Tether (USDT), will not unilaterally freeze the accounts of ordinary Russian customers as part of the global sanctions unless it’s forced to do so, a spokesperson for Bitfinex told Cointelegraph on Thursday. The representative emphasized that Bitfinex has taken appropriate action against the accounts of Russian users who have been sanctioned. “As with all our customer accounts, we work to ensure that there are no irregular movements or measures that might be in contravention of applicable international sanctions,” the s...
Bitcoin spikes above $40K as Russia sees ‘positive shifts’ in Ukraine war dialogue
Bitcoin (BTC) saw instant volatility on March 11 amid hope that the Russia-Ukraine conflict could find a diplomatic solution. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hope rises — but so do Bitfinex shorts Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly surging $1,400 before reversing to consolidate below $40,000 Friday. The move followed fresh comments from Russian President Vladimir Putin, who in a meeting with Belarusian counterpart Aleksandr Lukashenko said that there had been “positive shifts” in the Ukraine dynamic. “There are certain positive shifts, negotiators on our side tell me,” he said, quoted by Reuters and others. Bitcoin, already known for not “liking” escalations in armed conflicts, imme...
Celo foundation proposes to deploy Uniswap V3 on its native blockchain
A new community proposal was introduced in the Uniswap governance forum to deploy the protocol on the Celo blockchain, which is a mobile-first, carbon-negative and Ethereum Virtual Machine-compatible network. The new proposal was created on behalf of Blockchain at Michigan, and in partnership with the Celo Foundation and the Celo Climate Collective. Once passed, Uniswap will be accessible to nearly six billion mobile phone users. Currently, MetaMask mobile app enables using Uniswap or other decentralized exchanges via an in-app browser. The Celo foundation will commit $10 million of CELO in Uniswap-specific user incentives and grants along with $10 million in financial incentives for Uniswap specifically, The main focus of deployment would be the introduction of green asset liquidity pools...
Stacks price plunges hard after rallying 70% in a day — more STX losses ahead?
Stacks (STX) pared a considerable portion of the gains it made on March 10 as the euphoria surrounding its $165 million pledge to support Bitcoin (BTC) projects showed signs of fading. STX’s price dropped by over 30% to reach a level as low as $1.33 on Friday when measured from its week-to-date high of $1.94. The selloff, in part, appeared technical as the $1.94-top fell in the same range that served as solid support between October 2021 and January 2022, only to flip later to become a resistance area. STX/USD daily price chart. Source: TradingView It also appears that traders spotted selling opportunities due to STX’s long wick candlestick on March 10. Stacks rallied by as much as 73% into the day while forming a disproportionally long bullish wick on the daily chart that hint...
LA Token launches LACHAIN to bridge Ethereum-based networks
Crypto platform LA Token has become the latest exchange to launch its own blockchain with the LACHAIN network which it hopes will give its users access to decentralized finance (DeFi) products and a bridge between other networks. The layer-1 Ethereum Virtual Machine (EVM)-compatible and WebAssembly (WASM)-compatible LACHAIN went live on Mar. 10 to help LA Token capitalize on expected future growth in demand for token bridges between networks. LA Token was launched in 2017 in the Cayman Islands. It has had $281.6 million in trading volume over the last 24 hours according to CoinGecko. EVM compatibility allows tokens on the proof-of-stake LACHAIN to transfer seamlessly between other Ethereum-based networks such as Polygon (MATIC) and others including BNB Chain (formerly Binance Smart Chain)....
