The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered. The forced selling of the Bitcoin (BTC) holdings backing a portion of UST also influenced
Cryptocurrency
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
Global equity markets extended their decline on May 9 and the S&P 500 fell to a new 52-week low. Bitcoin (BTC) dropped to a new year-to-date low and most major altcoins extended their decline as they tracked the weakness in the stock markets. Data from blockchain analytics firm Glassnode shows that Bitcoin inflows to centralized
Terra (LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST). The LUNA/USD pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of UST. As a result of this selloff, UST briefly lost its U.S. dollar
The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure. Bitcoin has extended its decline during the weekend and is now on track for its sixth
The total crypto market capitalization has been trading within a descending channel for 24 days and the $1.65 trillion support was retested on May 6. The drop to $1.65 trillion was followed by Bitcoin (BTC) reaching $35,550, its lowest price in 70 days. In terms of performance, the aggregate market capitalization of all cryptocurrencies dropped
The United States Treasury Department Office of Foreign Assets Control (OFAC) announced Friday that it was sanctioning cryptocurrency mixer Blender.io for its role in laundering proceeds from the hacking of Axie Infinity’s Ronin Bridge. North Korean state-sponsored hackers Lazarus Group have been identified as the perpetrators of the attack. Treasury Under Secretary for Terrorism and
The battle to attract stablecoin liquidity has been a trending theme across the cryptocurrency landscape for the past year, especially as decentralized finance users have come to realize the hefty APY that can be earned on dollar-peg assets. While Curve Finance remains the undisputed leader in interest bearing stablecoin liquidity pools, several new entrants have
Holders of the popular memecoin Shiba Inu (SHIB), will now be able to use the cryptocurrency to purchase land in the Shiba metaverse. On Wednesday, the Shiba Inu team took to Twitter to reveal that the SHIB token could now be used to mint parcels of land in the recently unveiled virtual reality project “SHIB:
A handful of industries and tech workers are shifting from Web2 to Web3 and with this move, awareness of blockchain technology is also spreading. Ethereum Name Service (ENS) is one project that is looking to help facilitate Web3 adoption by making it easier for Dapp users to interact with the Ethereum network. This is accomplished
The U.S. equity markets opened on a tentative note on May 2 but a minor positive is that the crypto markets led by Bitcoin (BTC) are holding above their immediate support levels. The price action over the next few days will be dictated by the outcome of the Federal Open Markets Committee (FOMC) on May
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Dawn Newton, co-founder and chief operating officer of Netki — a remote digital identity verification technology provider intended to
A new rule imposed by Belgium’s financial regulatory agency, the Financial Services and Markets Authority (FSMA), will now require crypto exchanges and custodial wallet services in the region to register within a sharp deadline. Starting tomorrow, May 1, legal individuals and entities that wish to provide crypto exchange services or custodial wallets in Belgium will
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Elon Musk buys Twitter for $44B — crypto industry reacts
As told via a Twitter post on Tuesday, instant messaging app Telegram has rolled out crypto payments via Ton Token. To access the feature, users first need to download and install Telegram’s official Wallet bot, which allows them to purchase cryptocurrency by bank card, exchange and transfer to other wallets. According to the company, they
Although NFTs have been a part of the cryptocurrency market since 2014, interest and adoption ha risen rapidly over the last two years. At their height in August 2021, the total trading volume of NFTs rose to over $5 billion, kickstarting what briefly came be to known as “NFT Summer”. According to a report by Coingecko,
The U.S. dollar index (DXY) has risen above the highs created in March 2020 and may next challenge the multi-year highs set in January 2017. Bitcoin’s (BTC) price action is generally inversely connected to DXY. Therefore, unless the dollar reverses its sharp uptrend, a strong recovery in Bitcoin may be difficult. Although Bitcoin has not
Liquid staking has grown in popularity over the past year thanks in part to the launch of the Ethereum beacon chain and the inability of ETH stakers to withdraw their tokens until the full launch of the consensus layer. As a result, Lido (LDO) has established itself as a leader in the liquid staking sector. Lido is
Bitcoin (BTC) continues to trade below $40,000 as bears try to flip the level into resistance. The soaring U.S. dollar index (DXY), which is usually inversely related to Bitcoin, favors the sellers. However, it is not all gloom and doom because the Bitcoin bulls seem to be taking clues from the Nasdaq (NDX) which has
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Lili Zhao, director of ecosystem growth at Neo — an open-source blockchain development platform. The A to Z of
Bitcoin (BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the past few days. The sharp
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