Day: July 28, 2023

Sequoia slashes its crypto fund by 66% after industry collapses: Report

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Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia Crypto Fund — along with its ecosystem fund — to better reflect changed market conditions. Sequoia Capital curbed crypto investments by a hefty 65% , opting for a nurturing stance on startups. Not a volatile market apathy, but strategic cognition,…

PancakeSwap Joins The Ranks Of DeFi Giants On zkSync Era: Here’s Why It Matters

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Decentralized Exchange (DEX) PancakeSwap (CAKE), has announced the launch of PancakeSwap v3 on zkSync Era, a Layer 2 scaling solution that promises to deliver improved scalability, efficiency, and cost-effectiveness to its users. According to the announcement, with the popularity of ZK rollups increasing and users and builders increasingly looking to L2 solutions, PancakeSwap is thrilled to offer users and developers even more reasons to build and trade on its DEX. The Benefits Of PancakeSwap v3’s Swap Feature On zkSync Era PancakeSwap v3 on zkSync Era comes with several exciting features,…

Borroe Finance empowers small businesses to scale, grow revenue

Borroe Finance is a crypto project behind ROE. It aims to transform how small businesses receive funding and expand in web3.  The platform empowers businesses to unlock their true potential, scale up, and thrive using artificial intelligence (AI) and blockchain.  Struggles of small businesses in web3 Though the web3 revolution has presented opportunities for small businesses, there have been challenges. Many ventures encounter short-term liquidity issues, capping growth. Meanwhile, traditional financing institutions have been slow to grasp the dynamics of the web3 industry, resulting in slow, inefficient, and expensive funding options.…

Bitcoin traders put eyes on $31K even as $2B in BTC options expire on Friday

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The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent United States Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact of a tighter economic policy takes time to influence the markets. Bitcoin daily price movements during option expiries. Source: TradingView Looking back, the monthly expiry on June 30 did not cause significant volatility, given that Bitcoin had already experienced…

Dogecoin Falls While Others Rally, Is It Decoupling From The Market?

Over the last day, the majority of the crypto market has been rallying alongside Bitcoin. But Dogecoin seems to have a mind of its own as it has gone in the opposite direction. The meme coin started out Thursday with a decline, which follows the trend of DOGE deviating from the general crypto market trend over the past week. Dogecoin Fails To Register Similar Gains To Larger Altcoins Dogecoin has struggled to keep up with the gains of top altcoins such as Ethereum and XRP. In this time, the meme…