Tag: Parallel

Dogecoin price targets $1 after historic bull run — SHIB and DOGEN eye parallel momentum

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Dogecoin nears $1, sparking investor excitement as SHIB and DOGEN gain traction, signaling a potential new crypto wave. After a remarkable surge, Dogecoin’s value is edging closer to the coveted $1 milestone. This impressive climb is fueling excitement among traders and investors. At the same time, other meme-inspired cryptocurrencies like SHIB and DOGEN are gaining traction. These developments hint at a possible new wave in the crypto market that…

Sei Network Opens Access to Parallel EVM Blockchain

Sei Network has officially announced the launch of its much-anticipated parallel EVM blockchain, Sei v2 mainnet beta, which is now accessible to the public. This development marks a significant milestone in Sei’s mission to build the fastest blockchain optimized for the exchange of digital assets. Accelerating the Ethereum Ecosystem Sei v2 aims to enhance the Ethereum ecosystem by providing developers with the opportunity to build on what is claimed to be the most performant EVM blockchain available. The parallelized EVM architecture of Sei v2 is…

Ascending Parallel Channel Pattern Points To $57,000 Target

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As anticipation builds around the potential approval or rejection of spot Bitcoin (BTC) exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) on January 5, the Bitcoin price has witnessed a notable 2.7% recovery in the past 24 hours.  This development comes amidst growing speculation about the patterns that could drive the Bitcoin price to reclaim the highs lost during the bear market in 2022.  Notably, crypto analyst Ali Martinez has identified an ascending parallel channel as the governing pattern behind the Bitcoin price action since September 2023.…

ParaSpace to continue NFT lending as it rebrands to Parallel Finance

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Despite rebranding to Parallel Finance for a greater focus on the decentralized finance (DeFi) ecosystem, the nonfungible token (NFT) lending protocol ParaSpace will continue to focus on its core product amid sector woes. In a conversation with Cointelegraph, Yubo Ruan, founder and CEO of ParaSpace (now Parallel Finance), explains that the protocol uses a combination of diversified liquidity pools, dynamic loan-to-value ratios and price-discovery partnerships to mitigate the risks associated with high volatility, which can often result in a lack of bidders on the underlying asset. “Despite the market downturn,…

SEC, CFTC press civil charges against former FTX exec Singh parallel to criminal case

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Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh. Singh pleaded guilty in the U.S. District Court for the Southern District of New York to one count of wire fraud, one count of conspiracy to commit wire fraud on FTX customers and one count of…

Short Term Low For Litecoin As It Breaks Below Parallel Channel

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The Litecoin price has tanked further over the last 24 hours. On their respective charts, the prices of major altcoins reflect the price action of Bitcoin. As BTC slipped close to 3%, LTC also tanked nearly 8% on the daily chart. Recovery for Litecoin seems far-fetched from what the technical outlook suggests. A rise in Bitcoin’s price may help LTC for a while, but the altcoin’s demand must rise in order for the price to reverse. The short-term price thesis for LTC points towards continued lower price action. Since the…

Parallel Markets Looks to Bridge Identity Verification Across Platforms

The company has two offerings. The first is “identity underwriting,” which validates the identity of a potential user by pulling key data about them for AML and KYC (know your customer) requirement compliance. For crypto-native firms, identity can be validated using Parallel’s PID identity token, a full on-chain token that preserves anonymity. The tool also provides sanction monitoring for both individuals and business entities globally. Source

Gap Between Ethiopian Currency’s Official and Parallel Market Exchange Rate Grows to New Record – Africa Bitcoin News

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The Ethiopian birr currency’s parallel exchange rate against the U.S. dollar recently dropped to a low of 92 birrs per dollar, a report has said. The report added that following this latest plunge, the gap between the birr’s official and parallel market exchange rates has widened to a record high. Resumption of Fighting Between Ethiopian Government Forces and Tigray Rebels Identified as the Cause The gap between the Ethiopian currency’s official and parallel market exchange rate against the greenback widened to a new record higher after the latter rate plunged…

Parallel Finance Doubles Valuation in $5M Funding Round

Parallel Finance is interested in working with strategic investor Coinbase on its ecosystem expansion and software plans, Ruan said. The protocol also plans to build on StarkWare’s StarkNet, a layer 2 “scaling” product that addresses Ethereum’s issues of slow speed and high transaction fees. Section 32, the venture capital firm, may help bring potential partners to the table as Parallel Finance moves to invest more in Web 3 projects. Source