Tag: Token

Synthetix racks up over $1M in daily fees as SNX token value surges 100%

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Layer-2 scaling solution Synthetix recently collaborated with liquidity provider Curve Finance to create Curve pools for sETH/ETH, sBTC/BTC, & sUSD/3CRV, allowing investors to cheaply convert synths such as sETH to Ether (ETH). Given the investors’ willingness to hold tokens instead of synths, the protocol racked up over $1.02 million in trading fees — overshadowing Bitcoin’s (BTC) daily performance by five times. Synthetix, Ethereum-based decentralized finance (DeFi) protocol, created a buzz across the crypto ecosystem after witnessing a sudden increase in trading activities and an unprecedented comeback of its in-house token,…

Magic Internet Money token depegs as Terra (LUNA) domino effect persists

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Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an untimely crypto winter. The sudden de-pegging of the MIM token commenced roughly on June 17, 7:40 pm ET, which saw the token’s price drop to $0.926 in just three hours. Terra’s LUNA and TerraUSD (UST) death spiral not only affected the investors but also had a negative impact on numerous crypto projects, including Abracadabra’s MIM token ecosystem — as alleged by Twitter handle @AutismCapital. Depegging of…

Crypto Exchange Giant Coinbase Adds Three Ethereum (ETH) Altcoins Plus One DeFi Token, Spurring Surprise Rallies

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A privacy-focused scaling solution altcoin is scaling up after joining Coinbase’s roster of crypto assets. In an announcement, Coinbase says Marlin (POND) is now live across its entire platform, including on the iOS and Android apps. News of the Coinbase listing has Marlin surging by 31% to $0.013. POND was trading for as low as $0.007 on Monday. Also joining Coinbase is the decentralized finance (DeFi) protocol StaFi (FIS) which helps unlock the liquidity of staked crypto assets. Utility token FIS can be used to pay network transaction fees, voting…

Blockchain Security Firm Forta Introduces Native Token

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Tron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit – Bitcoin News

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Tron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO Reserve has deployed more tron tokens and USDC to defend the peg and the DAO’s reserve web page shows the coin is overcollaterized by 314% at the time of writing. Tron’s USDD Has Been Unable to Surpass $0.98 During the Past 24 Hours The stablecoin USDD, issued on the Tron blockchain, is an algorithmic stablecoin that also leverages overcollateralization to…

Despite Overcollateralized Reserve, Tron’s USDD Stablecoin Slips to $0.974 per Token – Altcoins Bitcoin News

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Following the crypto market carnage on Monday, the following day crypto prices have shown some improvement. However, Tron’s stablecoin USDD has once again dropped to $0.974 per unit, indicating a small amount of instability continues to plague the fiat-pegged token. The dip to $0.97 follows Monday’s deviation from the parity and comes after the Tron DAO Reserve deployed large quantities of USDC to shore up the reserve’s defense. Tron’s USDD Stablecoin Continues to Remain Lower Than the $1 Parity, Tron DAO Reserve Deploys 500M USDC Many cryptocurrency supporters are watching…

Meme Token King Dogecoin Lost 91% in Value Since Last Year’s High, DOGE Mining Revenue Plummets – Market Updates Bitcoin News

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After a prominent rise last year, 2022 has not been too kind to the top meme coin asset dogecoin. Currently, the father of the meme coin economy, dogecoin, has lost 91% in value since the crypto asset’s all-time high. Despite the drop, dogecoin is still a top ten contender among the largest crypto market valuations today. The Dogecoin Dog Days — Meme Token King Sheds Significant Value Dogecoin fans have been watching the largest meme coin asset plummet in value week after week. While it is still a top ten…

EverRise Releases EverRevoke, Platform for Revoking Token and NFT Approvals – Press release Bitcoin News

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press release PRESS RELEASE. EverRise, a leading web3 security and infrastructure platform, has released EverRevoke. The newest addition to the EverRise Ecosystem is a utility to review and revoke token and NFT approvals from a single place across multiple blockchains. EverRevoke supports five blockchains: Ethereum, BNB Chain, Polygon, Avalanche, and Fantom. Token approvals are an often overlooked vulnerability in decentralized finance. EverRise developed EverRevoke not only to provide a solution to revoking active permissions but also to bring awareness to the potential problem. With DeFi and web3 gaining more adoption,…