Day: August 29, 2023

XRP momentum drops as supporters consider ROE for portfolio diversification

In the ever-evolving crypto world, investors are constantly looking for the next best crypto to invest in. In recent days, XRP, the native token of the XRP Ledger (XRPL), has been wavy, edging lower. As such, some supporters have been exploring alternatives of which Borroe Finance (ROE) has been center stage. XRP’s Momentum Concerns XRP, often touted as one of the top crypto coins, is being actively monitored. However, in recent times, its momentum has been fizzling. While it’s important to remember that crypto markets are inherently volatile, some XRP…

Crypto Trader Wintermute Gets ‘Creative’ in Search for Yields

The YFI loan “would be rather stupid for us not to return,” he wrote in forum posts. But Yearn’s voters questioned the logic of trusting self-declared “reputable” companies after blowups of FTX, Alameda, Celsius and other failed whales. As a concession, Wintermute agreed to post CRV tokens as collateral in a wallet partially controlled by them and by Yearn. Source

Bearish Pattern Stirs Worries Of A $0.000007 Dip

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The price of Shiba Inu (SHIB) has experienced a downward trend over the past several days. This corrective phase, marked by declining trading volumes, is shedding light on a potential weakening in bearish momentum. Interestingly, this price action aligns with the emergence of a triangle pattern, a technical phenomenon that often holds significant implications for market trends. In technical analysis, a triangle pattern refers to a chart pattern formed when the price moves within converging trendlines, creating a triangular shape. This pattern indicates a period of consolidation and indecision in…

Argo Blockchain cuts 2022 debt by half, down to $75M

The mining company, which has been one of a number of firms to struggle amid negative market conditions and a highly-competitive mining ecosystem, reported half year net losses of $18.8 million in 2023, down over 50% from a net loss of $39.6 million in H1 2022. Argo also notes that it has reduced its debt by $4 million in 2023, taking its total debt to $75 million. The company has cut its debt by $68 million, having owed $143 million in June 2022. Revenues were down by 31% in comparison…

dYdX to unlock 6.52M tokens worth $14M for community treasury, rewards

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Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers. On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. Upcoming dYdX unlock event. Source: token.unlocks.app The remaining 4.03 DYDX tokens will be split between…

This Level Retest Could Signal A Selling Window

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Polygon’s MATIC token experienced fleeting 24-hour gains that offered a momentary glimmer of hope for its investors. However, this uptick was juxtaposed against lingering weaknesses in the bullish sentiment, prompting questions about the potential for further downside.  In the last five days, MATIC embarked on a trajectory marked by a relatively narrow price range, predominantly oscillating between $0.537 and $0.56. This phase of consolidation led to a visible reduction in market volatility, consequentially resulting in a discernible drop in the open interest metric throughout the week.  This deceleration in market…

South Korea obliges crypto exchanges to hold $2.3m in reserves

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied South Korea has set a new reserve requirement for crypto exchanges, mandating them to have at least $2.3 million in reserves. Cryptocurrency exchanges in South Korea with bank-issued real-name accounts will have to reserve 30% of their daily average deposits or a minimum of 3 billion won ($2.26 million) starting from September 2023, according to a report by local news outlet News 1. The directive comes from the “Virtual Asset Real-Name Account Operation Guidelines” published by…

3 Reasons Why It Won’t Be Like 2017, 2021

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In a recent tweet, Luke Mikic, a renowned podcaster and YouTuber, highlighted the distinct differences between the upcoming 2025 Bitcoin bull market and its predecessors in 2017 and 2021. Drawing from his insights and the data available, here’s a deep dive into the three reasons that set the 2025 bull market apart: 1. The Hash Rate Race: Nation States Enter the Fray “The Bitcoin hash rate is going absolutely parabolic, smashing through 400TH/s & another ATH!” Mikic exclaimed. Indeed, the Bitcoin network hash rate recently achieved a record-breaking 414 EH/s,…