Day: November 24, 2022

Dogecoin Holds $0.08 Against All Odds; Here is Why This Will Favor DOGE Army

DOGE’s price continues to show strength as the price hold above the key region of $0.08 as bulls aim to go higher.   DOGE’s price continues to look bearish with the market’s current state, as most traders and investors remain cautious.  DOGE’s price bounces from a low of $0.07 on the daily timeframe as the price moves with eyes set on recapturing price above the 50 Exponential Moving Average (EMA) Dogecoin (DOGE) continues to display a better price action than in recent times than Bitcoin (BTC) as the price reclaims the…

Low-Cap Altcoin Jumps After Surprise Announcement From Crypto Exchange Binance

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The price of a little known altcoin is surging after getting support from Binance, the world’s largest crypto exchange platform by volume. The trading platform’s mining pool service, Binance Pool, is adding Ravencoin (RVN) to its catalog of crypto assets as the Ethereum (ETH) merge in September spurred interest in the altcoin due to its proof-of-work (POW) consensus mechanism, which leaves room for mining. Crypto miners could no longer mine the leading smart contract platform after it switched to proof-of-stake (POS) mechanism, causing a spike in demand for proof-of-work tokens…

Cardano DeFi Project Ardana Halts Development, Citing Funding, Timeline Concerns

Ardana was barely a year into development after raising $10 million last year via a funding round led by now defunct crypto hedge fund, Three Arrows Capital, Cardano’s cFund and Ascensive Assets. The project was working on stablecoin minting and foreign exchange services, and aspired to be “the MakerDAO and the Curve Finance of Cardano.” Original Source ArdanaCardanoCitingConcernsDeFiDevelopmentfundingHaltsProjectTimeline CryptoX Portal

Polkadot incentivizes its community to fight scams through an “anti-scam bounty”

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Polkadot, a protocol that connects blockchains, has announced its latest initiative to help its ecosystem fight scams.  According to the company, relying on security-minded individuals within its community to fight scams has proven to be an effective method of safeguarding its ecosystem. To incentivize the members of its community to continue to do the work, Polkadot consistently rewards them with bounties paid in USDC.  Polkadot shared that its bounty is currently managed by the general curators, which for now, consists of three community members, and two people from the W3F…

Onchain Analysis Verifies the Number of BTC Held by Grayscale’s Bitcoin Trust – Bitcoin News

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After Grayscale Investments shared information concerning the company’s product holdings, people questioned why the firm wouldn’t share the public addresses associated with the crypto assets it holds. However, on Nov. 23, OXT researcher Ergo published a Twitter thread featuring onchain forensics that confirm Coinbase Custody holds a balance of 633K bitcoin that likely belongs to the Grayscale Bitcoin Trust (GBTC). OXT Researcher Verifies Grayscale’s Bitcoin Holdings Five days ago, Bitcoin.com News reported on Grayscale disclosing information tied to the safety and security of the company’s digital assets. Grayscale’s statements were…

Leading Cardano stablecoin project shuts down after excruciating launch delays

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On Nov. 24, Ardana, a leading decentralized finance (DeFi) and stablecoin ecosystem building on Cardano (ADA), abruptly halted development, citing “funding and project timeline uncertainty.” The project will remain open-source for builders while treasury balances and remaining funds will be held by Ardana Labs “until another competent dev team in the community comes forward to continue our work.” “Development on Cardano has been difficult with alot of funding going into tooling, infrastructure and security. This alongside the uncertainty around development completion has led to the best course of action being…

Bybit launches $100M support fund for institutional traders

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Crypto derivatives exchange Bybit has launched a new support fund to help institutional traders access liquidity in the wake of the FTX collapse — an event that triggered a fresh wave of panic selling across the digital asset space. The support fund, valued at $100 million, is available to market makers and high-frequency trading institutions struggling with financial or operational difficulties following the collapse of FTX earlier this month, Bybit disclosed on Nov. 24. The funds will be distributed to eligible applicants at a 0% interest rate. To be eligible,…