Day: February 22, 2022

Stablecoin Supply Near $200 Billion, Faster Growth Than Rest of Crypto

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Stablecoin supply shows significant growth during the year. The market cap of the top stablecoins is roughly $181 billion, over 11% of the total crypto market, which is now at $1,6 trillion after shedding over $140 billion in the past two days over geopolitical concerns. Consequently, data shows that stablecoins are growing at a much faster pace than the crypto market this year. Crypto total market cap at $1,6 trillion in the daily chart | Source: TradingView.com Faster Than The Crypto Market Having significantly accelerated their pace since 2020, data…

Vitalik Buterin Calls Canada’s Use of Banks to Stifle Protestors ‘Dangerous’

CryptoX – Cryptocurrency Analysis and News Portal During the sit-down with CryptoX’s Lee, Buterin also discussed Ethereum’s challenges, gas fees, ETH inflation and competition Ethereum faces from newer layer 1 blockchains. Watch the full interview below, or read the (rough, AI-generated) transcript. Source The post Vitalik Buterin Calls Canada’s Use of Banks to Stifle Protestors ‘Dangerous’ appeared first on CryptoX. CryptoX Portal

GameFi’s Shaky Prospects; Bitcoin, Ether Inch Higher

Ether, the second largest crypto by market cap, was trading just over $2,600, up nearly 2% for the same period. Most other major cryptos were in the green. Investors continued to monitor the escalating tensions on the Russia-Ukraine border. OANDA Senior Market Analyst, The Americas Edward Moya, wrote in an email that bitcoin’s price could fluctuate significantly for the near future. Source

Solana NFT Marketplace Magic Eden Reveals Airdrop, Plans to Launch DAO – Bitcoin News

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On Tuesday, the Solana-based non-fungible token (NFT) marketplace Magic Eden announced the project is airdropping NFT tickets to existing Magic Eden users and plans to form a decentralized autonomous organization (DAO). On February 21, the Magic Eden project airdropped around 4,000 NFTs to active wallets, and the following day the team announced the DAO roadmap. The Magic Ticket Airdrop and DAO According to the developers of the Solana-based Magic Eden NFT marketplace, a DAO is in the making and the fundamentals behind the change. The team detailed that it started…

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3 reasons why Bluzelle (BLZ) could be GameFi’s next unicorn project

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The cryptocurrency market has had a less than stellar start to the year and it appears that the downtrend that began after the November 2021 market peak has been extended thanks to a multitude of negative developments, including the expectation of rising interest rates and the threat of a war between Russia and Ukraine.  While many traders have little appetite to risk capital during bearish conditions, contrarian investors looking to buy while “there is blood on the streets” have several viable options with data from Cointelegraph Markets Pro indicating that…

Ethereum Exchange Balances Touch 3-Month High

Ethereum had seen its balances on exchanges decline through 2021. This happened despite continuous market rallies that sent the digital asset towards all-time highs. Investors had accumulated all through bull rallies instead of trying to dump their coins, leading to reduced supply on centralized exchanges. This was also propelled forward by the growing popularity of DeFi. However, this trend is starting to reverse as exchange balances are now on the rise. Ethereum Exchange Balances Touch 3-Month High New on-chain reports have shown that Ethereum exchange balances are on the rise…

Bitcoin Bloodbath Continues, Bears Grip Put in Extreme Fear Territory

To the sound of war drums between Russia and Ukraine, Bitcoin continued its downward spiral on Monday. Over the weekend, the digital currency par excellence lost crucial support below $40,000, and on Monday, it made a low below the next control zone at $37,000. Despite closing near $38,000, the crypto currency is swinging around the aforementioned crucial support, according to TradingView data, and threatens to extend its losses. Bitcoin’s price has dropped for six days in a row. Late last night, the pioneer fell to $36,545 — its lowest level…

Bitcoin Ticks Up as Biden Announces New Russia Sanctions

“For people like me who are very long-term focused and quietly accumulating bitcoin on a daily basis, it’s the asset that will supply the most security and value overall,” said Jason Deane, analyst at Quantum Economics. “For traders and speculators, it’s a simple trade equation designed to generate fiat. For them, it’s an exciting and volatile risk-on trade. The question is, whose narrative will be stronger?” Source