Day: May 3, 2023

Total Value Locked Can Help Investors Determine Crypto Allocation

Description of simulation: Data is for the period Jan. 1, 2021-March 31, 2023. These indexes represent hypothetical backtests rebalanced monthly and do not consider transaction costs or whether assets are feasibly investable. The indexes exclude stablecoins, wrapped/pegged tokens, centralized exchange tokens and any assets that have not received a price in the last 365 days. Indexes only include proof-of-stake assets for which TVL data is readily available. “Market cap” refers to the circulating market cap of an asset. TVL includes all forms of how assets are used, or “locked” on…

MATIC Rebounds, as SOL Falls Back Towards Support – Market Updates Bitcoin News

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Polygon climbed higher in today’s session, as cryptocurrency markets marginally rebounded on Wednesday. The global crypto market cap was up by nearly 1% earlier in the day, as Tuesday’s losses eased. Solana, on the other hand, remained lower, as it fell towards a key price floor. Polygon (MATIC) Polygon (MATIC) edged higher on Wednesday, as the token moved away from a recent point of support. Following a low at $0.954 on Tuesday, MATIC/USD jumped to a peak of $0.9925 earlier in today’s session. As a result of the move, polygon…

3 signs PEPE token is about to trap bulls after 2,000% price rally

New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly $80 million, thus pushing it out of the top-100 top cryptocurrency index.  Pepe price performance since market debut. Source: CoinGecko A mix of technical and fundamental indicators hint at further downside for PEPE price.  Retail…

CoinDesk Validator ‘Zelda’ Successfully Exits Ethereum Blockchain as Staked ETH Withdrawal Queue Shrinks to 9 Days

The reason it takes so long for validators to exit the chain is because that’s part of the project’s design. Staking is an important part of maintaining the security of the Ethereum blockchain, and if too many validators left the chain at once, the security of ensuring that transactions and blocks are added to the network could not be guaranteed. So the number of validators who can exit at any given time is subject to a hard limit; when withdrawal requests pile up, the exit queue backs up. Source link

Bitcoin limps into FOMC as flagging volume adds to BTC price hurdles

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Bitcoin (BTC) hit daily lows at the May 3 Wall Street open as markets counted down the hours to the Federal Reserve interest rate decision. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed set to hike into banking crisis Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $28,152 on Bitstamp, down 2.2% from the day’s highs. The pair continued volatility into the May 3 meeting of the Federal Open Market Committee (FOMC), the event which accompanies interest rate adjustments. As Cointelegraph reported, market sentiment has priced in a…

Former Coinbase exec cancels $1m bitcoin bet, donates $1.5m to charity

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Former Coinbase Chief Executive Officer (CTO) Balaji Srinivasan canceled his $1 million bet on bitcoin (BTC) on May 2 after it failed to reach $1 million within 90 days. Balaji gave $1.5 million to three organizations as part of the settlement, including a charity organization, GiveDirectly. Balaji Srinivasan, the former CTO of Coinbase, has abandoned his wager that bitcoin will hit $1 million in the next 90 days.  Balaji revealed on Twitter on May 2 that…

DeFi’s Future Will Require CBDCs, Tokenized Deposits and Stablecoins to Coexist

In summary, the market environment continues to be fluid, and there is no clear winner on either side. Ultimately, the coexistence of CBDCs, tokenized deposits and stablecoins hinges on striking the right balance to meet customers’ needs and ensuring trust in their redemption as payment transactions. This coexistence should be driven by application, with central banks continuing to dictate monetary policies and issue money while relying on private regulated entities, such as banks, for distribution to the public. Source

Global Law Enforcement Agencies Dismantle Darknet Marketplace Monopoly Market, Arrest 288 and Seize $53.4 Million – Bitcoin News

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On May 2, 2023, Europol announced a collaborative effort between law enforcement agencies from the U.S., Europe, the U.K., and Brazil culminated in 288 arrests, along with the confiscation of 850 kg of illegal drugs, 117 firearms, and $53.4 million in cash and cryptocurrencies. This joint venture, named “Operation Spector,” successfully dismantled the darknet marketplace (DNM) Monopoly Market and confiscated its infrastructure back in December 2021. Monopoly Market Taken Down via a Consortium of Global Law Enforcement Officials The U.S. Justice Department and Europol reveal that officials from around the…

Will compromise on anonymous crypto appease US regulators, spur adoption?

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Cryptocurrencies were designed to be anonymous or pseudonymous, so there is an inherent tension when protocols come up against jurisdictional authorities.  In the United States, the blockchain and cryptocurrency sector has jousted with regulators over the need to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules, and even over adherence to economic sanctions regimes.  Most recently, a top U.S. Commodity Futures Trading Commission (CFTC) official suggested in a speech that it behooves the industry to verify the digital identity of its users. The CFTC has historically been…