The average daily burn recently declined to a record low of 1,206 ETH per day. That’s barely 9% of the record daily burn of 13,269 ETH registered in January. Meanwhile, 13.6 million ETH, amounting to 12% of the circulating supply of 120 million ETH, are locked in the Beacon Chain, according to data tracked by blockchain analytics firm Glassnode. Source
Investors are faced with a difficult situation: learn the technological knowledge required to interact with DeFi platforms individually or trust a CeFi platform with their funds. Source
“It doesn’t matter what you hand over to a platform, if you hand over gold, if you hand over bitcoin [BTC] or you hand over any one of 1,000 plus alternative coins, frankly, if you hand over chinchillas. That the platform is taking those funds of value and doing something with it – they might be operating a hedge fund, they might be lending it out, they might be operating other investment schemes – but that platform is under the securities laws book because of how they’ve taken that money…
Despite these positive catalysts, the bank maintained its sell rating on Coinbase shares and its price target of $51, citing weakness in the core business. “ We remain sell rated as we believe the profitability profile is likely to remain weak given the depressed trading environment and the company’s target for roughly breakeven margins over the intermediate term,” the bank’s analysts wrote. Source
Hybrid Bridge Holdings Ltd. is reportedly the first company to receive a permanent license from the country’s capital markets authority to engage in crypto-related business activities. Source
By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). The crypto market has dropped below $1 trillion again this week, as Bitcoin neared towards the local bottom of $17,600. On chain analytics have also demonstrated a bearish sentiment among market participants. An example of this is the Bitcoin adjusted SOPR chart, provided by Glassnode, which shows that investors are cashing out during bear market rallies. This indicator suggests that investors are selling to “get their money back” at their cost basis, as there is a huge resistance at 1,…
As such, the ECB’s latest move demonstrates that global liquidity tightening is in full swing, which weakens the case for bullish revival in risk assets, including cryptocurrencies. Later this month, the Fed is expected to deliver its third 75 basis point hike – with the U.S. agency’s previous hikes contributing to a slide across the crypto market this year. Source BasisECBHikesHitsInflationInterestPointsRate CryptoX Portal
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io I teamed up with my friend to visit his gold claim not far from mine and sniped for gold underwater! I found gold just sitting in the bedrock crevices which I filmed and want you all to checkout! Sniping is a term used for gold mining when working with a wetsuit underwater. Gold mining underwater is my favorite thing to do as I love finding gold and I love being in the water! I managed to find more gold nuggets today and…
Taipei is bringing crypto into its regulatory fold. Source
Mysten Labs has raised $300 million at a $2 billion valuation in a funding round led by FTX Ventures with contributions from an array of big names in the crypto industry. Source