Ethereum regained investor support despite a recent price slump. Source
Ethereum Merge Drama Continues as Traders Pile Out, Then Back In
Month: August 2022
How to Build the Infrastructure of Web3 With Decentralized Data and Services
There are 68 digital assets inside the Computing sector, with top assets Chainlink (LINK) 2, representing 17.2% of the Computing Sector, and the top 10 assets representing 63.4% of the total market cap. There are 19 assets in the Shared Storage Industry Group, totaling around $9 billion in market cap, with Filecoin (FIL) 1 being the largest. In the Oracle industry group, there are 11 assets totaling around $8 billion in market cap, with Chainlink (LINK) 2 being the largest. There are currently 11 assets in the IoT industry group,…
BendDAO’s NFT-Collateralized Crypto Loan Platform Suffers a Bank Run, Prompting a Move to Avoid Another Liquidity Crisis
BendDAO – from a distance – looks like an old-school bank: Some customers deposit money into the decentralized finance (DeFi) platform, which loans the money out, giving depositors a cut of the interest payments. Those loans are backed by collateral but with a crypto-quirk: that collateral is pictures of monkeys, pixelated heads and other pricey non-fungible tokens (NFTs). Source
Here’s How SEC and CFTC Can Work Together to Regulate Crypto
Like other SROs, it would be paid for by the industry being regulated, Massad said. In addition, the proposed committee’s standards would aim to be vastly different from the self-regulatory efforts the crypto industry has attempted, which Massad noted “are much too weak.” Source CFTCCryptoHeresRegulateSECWork CryptoX Portal
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Inside the $3B DeFi Exploit of Acala's Crypto Platform
The exploit of one of Acala’s liquidity pools demonstrates how easily billions of dollars can be siphoned from DeFi platforms, potentially wreaking havoc on an entire industry in a matter of minutes. Source
South Korean financial majors want to create virtual assets exchange in 2023: Report
Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying that discussions on the project are now being finalized. According to the local coverage, Samsung Securities had been studying ways to develop and operate a securities token trading platform but was unable to recruit the…
Will Taylor Swift Ever Issue a Music NFT?
The reality is that Swift, and most artists, don’t need to share earnings with their fans, because why would you pay a TSA dog? They’re doing their job well. They’re happy. They’re very, very loyal. In fact there’s an overabundance of loyalty that, in an artist’s view, is unlikely to become scarce in the near future. Why fix it if ain’t broke, right? Source
Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. Total crypto market cap, USD billion. Source: TradingView The worsening conditions are not exclusive to crypto markets. The price of WTI oil ceded 3.6% on Aug. 22, down 28% from the $122 peak seen on June 8. The United StatesTreasuries 5-year yield, which bottomed on Aug. 1 at 2.61%, reverted the…
Bitcoin Price Falls as Markets Await Fed Chair Powell’s Comments
Bitcoin’s current reading, while slightly above 30, indicates that BTC is undervalued, although the recent price moves have come on lower-than-average, trading volume.. Lower-than-average trading volume can imply a lack of conviction in a trade both now and in the near future. As markets await Fed Chair Powell’s symposium comments on Friday, BTC will likely trade relatively flat on lower volume in the coming days. Original