Day: November 29, 2022

What’s Next As Algorand Price Remains Congested

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Algorand price continues to pack negative price action throughout the month of November. The altcoin has depreciated by more than 40% since the beginning of this month. Over the last 24 hours, ALGO has just risen by 0.6% on its chart, emphasizing continued lateral price movement. Currently, the coin has been stuck at a crucial resistance level. The technical outlook points in a direction where ALGO might not make a price comeback soon enough. The buying pressure has dropped considerably, which has reflected the fact that the coin has been…

Binance, Coinbase Among Crypto Firms Questioned by US Senator After FTX Mess

“As Congress considers much-needed regulations for the crypto industry, I will focus on the clear need for consumer protections along the lines of the assurances that have long existed for customers of banks, credit unions and securities brokers,” Wyden said in the letters. “If these protections had been in place before the failure of FTX, far fewer retail investors would be facing precipitous financial harm today.” Source

Ethereum derivatives look bearish, but traders believe the ETH bottom is in

Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors’ sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28. Newsflow remained negative after the United States Treasury Department’s Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for “apparent violations of sanctions against Iran.” In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more…

Serum exchange rendered ‘defunct’ following the collapse of Alameda and FTX

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The Solana-based decentralized exchange (DEX) has notified its community that the collapse of its backers — Alameda and FTX — has rendered its program “defunct”.  The team behind the project shared that “there is hope”, in spite of its ongoing challenges, because of the community option available to “fork” Serum.  What’s next for @ProjectSerum With the collapse of Alameda and FTX, the Serum program on mainnet became defunct. As upgrade authority is held by FTX, security is in jeopardy, leading to protocols like @JupiterExchange and @RaydiumProtocol moving away from Serum.…

The World’s Largest NFT Marketplace Opensea Adds BNB Blockchain Support – Bitcoin News

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On Tuesday, the world’s largest non-fungible token (NFT) marketplace in terms of overall NFT sales volume, Opensea, announced that BNB blockchain-based NFTs will be supported on the marketplace platform. With BNB blockchain support, Opensea users will be able to purchase and list BNB NFT assets. Opensea Integrates BNB Chain — Marketplace Users Can Now Buy and List BNB-Based NFT Assets This week, Opensea surpassed $33 billion in all-time sales according to statistics recorded by dappradar.com. On Nov. 29, 2022, Opensea revealed that the BNB blockchain will now be supported by…

BlockFi Joins the Bankruptcy Parade

Like (so far) every other crypto company, BlockFi has filed for Chapter 11 bankruptcy protection, indicating it believes it can continue onwards after a restructuring process. Like other companies, BlockFi claims it faced “a severe liquidity crunch,” directly citing the collapse of the FTX crypto exchange as a main cause. Despite this, BlockFi is in a better position than FTX due, at least in part, to governance and risk management processes, the filing claims. Source