If you have a look at the altcoin’s daily market cap chart, the bottom of the left shoulder, $188.4 billion, was created in June 2022, the low of the head, $173.23 billion, was made at the end of December, and the bottom of the right shoulder at $177.36 billion appeared in June this year, data from TradingView show. Source
PayPal’s move to issue a stablecoin is putting crypto legislation back in focus in Washington, D.C. Timothy Massad, former CFTC chairman and current director of the Digital Assets Policy Project at the Harvard Kennedy School, joined the conversation. tastycrypto head Ryan Grace shared his crypto markets outlook. And, The Sandbox co-founder and COO Sebastien Borget discussed the virtual world’s latest collaboration. Source
According to the website Realms, there’s about $89 million in the Mango DAO treasury, but most of that is denominated in MNGO tokens, and the market for those might not be liquid enough to sell them quickly and easily. Project insiders say that the main source of funding would likely come from a $15.3 million stash of dollar-linked stablecoins within the Mango Dao treasury, primarily denominated in USDC. Source
The looming prospect of a U.S. Department of Justice (DOJ) action against Binance, the largest crypto exchange, may hold a silver lining for Bitcoin and the broader markets. Even if this sounds crazy at first, there are good arguments for it. Rumors have been swirling for weeks about a potential DOJ action against Binance, a threat that has cast a long shadow over the markets, leading to increased volatility and uncertainty among investors. Yesterday’s report by Semafor has rekindled the rumor, but also gave it a new perspective, hinting that…
When a user logs on, funds an account and submits an order, they only need the size and direction of the proposed trade; they don’t need to put in the price, because all the trades are matched at that midpoint price whenever there’s liquidity on the other side, explained Enclave Markets CEO David Wells. Source
Crypto whales have suddenly come to life in the last 24 hours, with massive amounts of coins being sent to exchanges as markets start to show signs of possible weakness. Blockchain monitoring service Whale Alert has spotted numerous large entities sending large stacks of Bitcoin (BTC) and other digital assets to various crypto exchanges. Whale Alert spotted two transfers of Ethereum (ETH) worth over $40 million from unknown wallets to crypto exchange Coinbase, just hours apart, before another wallet was spotted sending $28 million in ETH to Gate.io. Hours later,…
Many Layer-1s are also soaring as SEC cases are called into question after favorable XRP ruling. Source
The largest stablecoins have all endured periods of turmoil in the last few months. In February, New York state regulators ordered Paxos to halt minting Binance USD (BUSD), the third largest stablecoin at the time. Next month, the collapse of Silicon Valley Bank (SVB) temporarily froze a sizable portion of USDC’s cash reserves, which affected Maker’s DAI stablecoin. Last month, USDT endured sell pressure in a key stablecoin liquidity pool, spooking traders, and TUSD weathered the implosion of its custodial partner. Source
“Some of the recent collapses in the crypto world have shown a misuse of clients’ funds and crypto-assets,” said the consultation, which also cites “media reports about hack attacks at CASPs, which have often resulted in the theft of significant amounts of client crypto-assets.” Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied MetisDAO (METIS) has been stumbling since early May after the asset fell from the $30 mark. However, as the heat around the Poly Network exploit cools, the METIS price witnessed a notable rise. METIS, the native token of the Metis ecosystem, surged by 11.5% in the past 24 hours. The asset is trading at $17.3 at the time of writing despite the recent market-wide downturn. METIS price – July 10 | Source: CoinMarketCap According to data…