Day: May 16, 2022

German Regulator Calls for New DeFi Laws

But some in the industry have warned that regulation could generate uncertainty in a nascent industry. Responding to Rodolphe’s comments, Sakhib Waseem, Chief Innovation Officer at Switzerland’s Astra Protocol, also told CoinDesk it could undermine the whole philosophy of DeFi, as supervisors in the U.S, EU and globally will tend to look for entities that can take responsibility for finance projects. Source

The 10 most expensive NFTs sold to date

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Nonfungible tokens, or NFTs, are turning out to be a treasure store with prices striding into the millions of dollars. Instances of an NFT garnering more than $69 million or a tweet fetching $2.9 million are not a fantasy, but an incredible reality. In 2021, an NFT by digital artist Beeple, or Mike Winkelmann, sold for a whopping $69 million, making NFTs a media hotshot and opening the floodgates for a string of other NFT sales, many of these in millions of dollars. Prompted by the plentiful talk about NFTs,…

Cryptocurrency Market Overview IV

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Welcome to another overview series on #crypto market. This part focuses on #Bitcoin, USDT dominance and Total Crypto Market cap. Please subscribe and share so others can find my channel. Thank you. Twitter and Telegram: @marsiveshot ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

May Brings Showers Not Flowers as Bitcoin Languishes in Terra Aftermath

Duong says that from a price-chart perspective, bitcoin is in a “no-man’s land” with the next major technical support at the 200-week moving price average around the $22,000-23,000 area. “If things were to deteriorate further, the next line of support would come at around $20,000, which was the all-time high in the previous 2017/2018 cycle,” according to Duong. Source

Bitcoin Miner Bitfarms Lowers Hashrate Outlook to 6 EH/s This Year

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Polygon and others extend helping hand to Terra blockchain projects

Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by migrating to other networks. In a move that is expected to benefit both the Polygon (MATIC) community and Terra projects, Polygon Studios’ CEO Ryan Wyatt tweeted on Monday that Polygon is working with a number of Terra projects to assist them to migrate to the Polygon Network. The Polygon community, according to Wyatt, “is…

Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries – Bitcoin News

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On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on the Entire Stablecoin Economy For a few years now, stablecoin assets have been a popular hedging vehicle among many participants within the cryptocurrency community. In more recent times, stablecoins are being loaned out in great…

What really goes on at a crypto OTC desk? – Cointelegraph Magazine

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Over-the-counter, or OTC, trading refers to any trading that is not done via an automated exchange. What exactly is OTC trading? Who does it, and why? To learn more about what an OTC desk is and how these “under the radar” exchanges operate, Magazine spoke to a few insiders to get the scoop. The most popular conception of OTC trading revolves around massive off-market deals, like when companies such as MicroStrategy make multimillion-dollar purchases using OTC desks run by the likes of Coinbase or Kraken. OTC trading is, however, not…