Day: April 25, 2022

Specialists Expect Bitcoin Back To $65K By End Of Year, Survey Finds

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Bitcoin had a bearish weekly close, as the price dipped further below $40,000. The benchmark crypto has experienced low volatility in the past week, but the market could see more action as the monthly close approaches. Related Reading | Bitcoin Struggles To Breach $40,000 Level, Down 4% In Last 24 Hours At the time of writing, Bitcoin trades at $38,900 with a 2% loss in the last 24 hours. BTC moving sideways on the daily chart. Source: BTCUSD Tradingview In the short-term, market sentiment seems to be turning bearish as market…

‘People Like to Root Against the Winners’

People like to root against the winners. Part of it also comes from a general, not lack of understanding, but lack of a deep, intellectual curiosity about what tokenomics can mean and enable. There’s different use cases and parameters around traditional stocks versus tokens. The more that people dig into DeFi, governance tokens, utility tokens and play-to-earn economics, all of that will make a lot more sense. But when you come from that traditional finance world and you see something without diving deep into the space, it’s easy to make…

New York legislators to vote on PoW mining moratorium this week

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The New York state legislature might ban Proof-of-Work (PoW) crypto mining in the state for at least two years, citing environmental concerns.  Over the past weekend, on April 23 and 24, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state legislature’s official webpage did not indicate a specific date for the vote. 1/ New York’s proposed moratorium on proof-of-work (S6486D/A7389C) mining has an unintended consequence – it puts innovation on…

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Liquidations Surpass $300 Million As Bitcoin Touches 40-Day Lows

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Crypto liquidations have been ramping up coming out of the weekend. The market had recorded a number of dips that saw more than $80 billion shaved off the crypto market. This had meant that bitcoin had declined to the $38,000 territory and had taken the rest of the market with it. However, contrary to expectations that the digital asset would record the most liquidations, that title had been claimed by the second-largest cryptocurrency, Ethereum. Bitcoin, Ethereum Lead Liquidations Bitcoin liquidations were no doubt one of the highest in the space.…

Bored Ape Yacht Club NFTs stolen in Instagram phishing attack

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As told by Bored Ape Yacht Club (BAYC) developers on Monday, hackers breached the popular nonfungible token (NFT) collection’s official Instagram page and shared links to a fake airdrop with the project’s followers. Crypto enthusiasts who connected their MetaMask wallets to the scam website were subsequently drained of their Ape NFTs. It appears that the attack was planned to coincide with the one-year anniversary of the launch of the BAYC collection, thus increasing the “perceived credibility” of the phishing link. Unconfirmed reports on social media indicate that approximately 100 NFTs…

OpenSea top-10 NFT projects soar as new liquidity enters the market

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Spring is here and with it came a new found awakening for nonfungible tokens (NFTs). In the last week of March, total sales volume rallied to $20 billion, but this metric took a dive from mid April to $17.6 billion.  However, on April 16, the newly landed Moonbirds NFT, pumped over $280 million worth of liquidity into the market and this, compounded with rumors of Yuga Labs’ Otherside land drop, sent the total volume sales for NFTs into a steady upward trend.  NFT 30-day market cap / volume. Source: NFTgo.io…

Uncollateralized Lending Platform Truefi Reveals $100 Million Single-Borrower Pool Designed for Blockchain.com – Bitcoin News

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The crypto firm Blockchain.com has revealed it has secured up to $100 million in liquidity from Truefi’s single-borrower pool. The pool will be initially capped at $100 million over the first year and Blockchain.com aims to use the funds to bolster its own “liquidity pools, leverage trading support, and book of lending services.” Blockchain.com Leverages Truefi’s Single Borrower Pool The leading digital asset services and exchange company Blockchain.com has announced it has secured $100 million in liquidity from the uncollateralized borrowing and lending platform Truefi. Essentially, the decentralized finance (defi)…