Bitcoin (BTC) is testing an important support zone, although upside appears limited, especially on long-term charts. Momentum continues to slow, which increases the risk of a breakdown. Original
Bitcoin Struggles to Hold Support at $27K-$30K
Day: May 18, 2022
Analysts assess the aftermath of the Terra (LUNA) collapse
Financial commentator Frances Coppola is convinced that algorithmic stablecoins such as TerraUSD (UST) will always be vulnerable to sudden collapses, no matter how much the technology improves. “They can improve their game theory, they can improve their risk assessment, but I think there will still always be some states of the world that they won’t have thought of,” pointed out Coppola in a discussion with Mike McGlone, senior commodity strategist at Bloomberg. Terra’s UST stablecoin, which relied on an algorithm to maintain a peg to the U.S. dollar, collapsed last…
What to Watch for in Tether’s Upcoming Attestation Report
When a stablecoin issuer issues stablecoins into the market, it normally keeps a corresponding asset in reserve to secure, or back, the stablecoin’s peg. As redemptions requests arrive, these reserves get used up. Because a stablecoin’s reserves are key to guaranteeing stability, the big, centralized stablecoin issuers have adopted the practice of providing information about their assets. In regularly published attestation reports, an independent auditor is asked to offer assurance about the quantity and composition of reserves backing the stablecoin. Source
BITCOIN IS IN DANGER IF THIS HAPPENS… [very important] – BTC Price Prediction Analysis
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io This Bitcoin and Cryptocurrency trading analysis applies to various exchanges, including Bybit and Binance. Tackling questions like if Bitcoin can reach all time highs again or how low BTC will crash. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash (bcash) may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space. To join VIP, click on my name (@Forflies)…
YOANN․IO Seed Launch on KICK․IO – Press release Bitcoin News
press release PRESS RELEASE. Metaverses are here, and they are the next generation of gaming. That’s why KICK.IO launchpad is excited to be hosting the public sale of YOANN.IO, an Anime Action Adventure. YOANN.IO empowers players to go on exciting adventures, interact with other players, as well as earn passive income from the marketplace. Within the exciting anime multiverse environment, you may choose to roam solo, with an AI, or with friends – completing multi-level quests and earning exciting rewards. Within the multiverse, every player may contribute to the community’s…
LUNA Supply Nears 7 Trillion, Is $1 Still Possible?
The circulating supply of LUNA has continuously gone up since the UST debacle began. This has mainly been from people redeeming their staked UST for the digital asset, which caused its supply to rise drastically in such a short amount of time. In turn, the price of LUNA had declined to reflect the enormous amount of tokens that were being dumped into the market. Now that the dust has finally begun to settle, the question remains where the price of the asset might end up. $1 LUNA Still Possible? Now,…
ShapeShift creates FOX Foundation as intermediary for successful DAO transition
On Wednesday, ShapeShift — a Swiss decentralized autonomous organization (DAO) hosting a cryptocurrency trading ecosystem — announced that its centralized corporate brand, ShapeShift AG, has formed the FOX Foundation. The nonprofit organization’s stated purpose is to oversee the decentralization of its namesake trading platform and assets. The FOX Foundation’s charter includes handling tasks such as paying bills in fiat currency, hosting servers, maintaining the platform’s centralized infrastructure until the transition completes, and replacing ShapeShift’s backend node with decentralized infrastructure FOXChain, developed in conjunction with Coinbase Cloud. According to the company,…
2 key Ethereum price metrics suggest traders will struggle to hold the $2K support level
Ether (ETH) price has been trying to establish an ascending channel since the May 12 market-wide crash that sent its price to $1,790. Currently, the altcoin’s support stands at $2,000, but the high correlation to traditional markets is causing traders to be highly skeptical s cryptocurrency market recovery. Ether/USD 4-hour price at Bitstamp. Source: TradingView To date, the Federal Reserve continues to dictate the markets’ performance and uncertainty has been the prevailing sentiment because the central banks of major economies are trying to tame inflation. Considering that the correlation between…
Sneakmart Brings Its Web3-oriented Metakicks NFTs To Market In June 2022
Various Metaverse and NFT initiatives aim to blur the line between the virtual and physical worlds. Sneakmart and its Metakicks NFT drops offer something virtual for sneaker collectors, with a chance to win physical items. The team works together with StockX and top-rated football stars and artists to tokenize limited-edition footwear. Metakicks Are Coming This June The Sneakmart team has built a strong reputation through its community-driven mobile app for streetwear enthusiasts. Moreover, they see merit n the NFT phenomenon and how it can prove beneficial to the $6 billion…
Let Terra Die
Those victims are understandably interested in plans to rebuild Terra, and, one hopes, to regain the value of the effectively worthless tokens they are left holding. Kwon’s blockchain was built around a stablecoin, UST, and a related free-floating cryptocurrency, LUNA, meant to keep the stablecoin algorithmically pegged at $1. Source