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” What can other algorithmic stablecoins learn from Terra’s crash? “ The spectacular implosion of the Terra ecosystem in mid-May left the crypto industry scarred. Though there were some brave critics who understood just how thin the razor’s edge was for TerraUSD (UST) — now TerraUSD Classic (USTC) — I think it’s safe to say…
” Do Kwon dismisses allegation of cashing out $2.7B from Terra (LUNA), UST “ Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years. Numerous unconfirmed reports surfaced on June 11, claiming Kwon’s participation in draining…
” The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell “ The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest…
” Axie Infinity: AXS price risks deeper losses despite 90% drawdown already “ Axie Infinity (AXS) has dropped by roughly 90% after peaking out at $172 in November 2021. AXS’s sharp correction has made it one of the worst performing digital assets among the top-ranking cryptocurrencies. Moreover, it could undergo further declines in the coming…
” Coin Center takes US Treasury to court over alleged financial spying “ Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill. Coin Center lawsuit information about plaintiffs and defendants. Source: Case: 5:22-cv-00149-KKC In…
” Do Kwon’s alleged $80 million withdrawals before Terra fallout triggers mixed reactions “ Reports that Terra (the new LUNA orLUNA2) founder Do Kwon allegedly withdrew $80 million monthly before the project crashed surfaced Friday, leading members of the community to voice their opinions on the matter. In a tweet, crypto trader and analyst Michaël…
” Price analysis 6/10: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, AVAX, SHIB “ The United States equities markets tumbled on June 10 after the consumer price index report showed inflation soaring 8.6% from a year ago, the highest increase since 1981. The latest figures show that talks of inflation having peaked were premature…
” Solana price just one breakdown away from a 40% slide in June — here’s why “ Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing “descending triangle” pattern. SOL’s 40% price decline setup Notably, SOL’s price has been consolidating inside a range defined by a falling…
” Bloomberg Terminal supersizes its crypto coverage: 40 more coins “ Financial and technical information platform Bloomberg has vastly expanded its coverage of crypto markets after a decision to include data on the top 50 crypto assets to the Bloomberg Terminal. Product manager for cryptocurrencies at Bloomberg Alex Wenham suggested that as “the global institutional…
” Ocean Protocol, Helium and Chainlink post monthly gains while Bitcoin price consolidates “ Positive price movements during bear markets are noteworthy primarily because they can help identify projects that have a good chance of surviving until the next bull cycle . Generally, price action in June has been stagnant for a majority of the…