The recent weakness in Bitcoin (BTC) price did not see any panic selling by investors, suggesting the sentiment in the crypto sector remains bullish. After Ether’s (ETH) strong run in the past few days, Bitcoin played catch up today as it reclaimed the $55,000 level. This suggests investors continue to accumulate on dips. Gaming-focused venture
Month: April 2021
More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap
Virtual land governance DAO Decentral Games is continuing to expand into the metaverse nightlife space with the launch of an Atari-branded casino. The casino will be the third such gambling establishment for the DAO, which purchases land in virtual worlds like Decentraland and opens digital businesses. Using brand assets from Atari, the provably-fair games are
Huobi Asset Management is looking to be the Grayscale of Asia with the launch of four cryptocurrency related tracker funds. The funds include a Bitcoin Fund, an Ethereum fund, a multi-asset basket of digital currencies, and a private equity fund for mining businesses. The aim is clearly to entice major institutional investors into the space
A major governmental agency in Uzbekistan seems to be rethinking its stance on cryptocurrencies. The National Agency for Project Management under the President of the Republic of Uzbekistan, or NAFT, issued an official document proposing several amendments to licensing procedures for crypto trading. NAFT proposed to officially allow local residents to conduct “all types of crypto
Decentralized exchanges have indelibly changed the way that cryptocurrencies are traded. But in the grand scheme of things, the technology that’s driving these platforms is relatively young… meaning it’s inevitable that teething problems have emerged. Some of the heavy hitters that dominate the market at present are known as non-orderbook markets. While it’s tantalizing and
Bitcoin and the overall cryptocurrency market saw minor losses on April 29 as the market heads into the expiry of $4.2 billion worth of (BTC) options contracts. Data from Cointelegraph Markets and TradingView shows that since reaching a high above $56,400 on April 28, the price of Bitcoin has dropped more than 6% back down near the
On April 28, MercadoLibre (MELI), the largest Latin American online marketplace, launched a real estate section dedicated to cryptocurrencies. Although the company does not settle property transactions directly, it legitimizes the category as a payment system. The $81 billion retailer is the second largest company in South America and is present in 18 countries, including
Bitcoin (BTC) has been struggling to sustain above the $53,000 support for the past three days, while Ether (ETH) soared to a new all-time high at $2,800. In the current scenario, some traders would rather wait for Friday’s CME futures expiry before entering long BTC positions, as historically, its price tends to correct ahead of
Moore Cayman, a Cayman Islands-based accounting network, has again affirmed that Tether Holdings Limited’s USDT stablecoin tokens are fully backed by its reserves. In the latest report, signed on March 31 and released Thursday, Moore Cayman confirmed that Tether’s consolidated assets exceeded its liabilities. “In our opinion, the [Consolidated Reserves Report] by the management of
On April 29 Ether’s (ETH) price rose to another all-time high, boosting its market capitalization to over $320 billion. With the recent rally, Ether’s market cap has overtaken platinum and PayPal to become the 32nd most valuable asset in the world, according to data from CompaniesMarketCap. Ether’s market dominance has risen from 10.79% at the start
Paxos, a major cryptocurrency company and PayPal’s crypto collaborator, has completed a massive fundraise shortly after receiving preliminary approval to form a national trust bank. On Thursday the firm announced a new $300 million Series D funding round bringing Paxos’ valuation to $2.4 billion. The new funding round included previous Paxos investors including PayPal Ventures, Declaration
Bitcoin (BTC) may not be worrying analysts with its latest price dip, but it will likely close its first negative month of April in six years this week despite hitting a new all-time high two weeks ag. Data from monitoring resource Bybt shows that at -8.3%, April 2021 is Bitcoin’s worst April on record and
New York-based exchange-traded product sponsor and asset manager WisdomTree is expanding its digital assets range with the launch of a new Ether (ETH) exchange-traded product, or ETP, on two European stock exchanges. Börse Xetra and Swiss Stock Exchange SIX have both listed WisdomTree’s ETP, which provides investors with exposure to the native currency of the
U.S. authorities have arrested the alleged mastermind behind a multi-million darknet-based BTC mixing service, Bitcoin Fog, after analyzing 10 years of blockchain data. Authorities have issued a chilling warning to other users of illegal blockchain services: Anything you do today may come back to haunt you as “this activity is on this ledger forever” and
Happy Wednesday fellow DeFi degens! I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave’s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year)
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