The recent crypto market downturn has not only hurt retail investor sentiment but also the decentralized finance space. According to the popular resource and aggregator DeFi Llama, the total value locked across various chains has declined to levels last seen in June 2021. DeFi Total Value Locked. Source: DeFi Llama Bitcoin, for one, has … Read more
BTC and altcoins produced the occasional relief rally, but technical analysis suggests that the prevailing trend will remain bearish for some time to come. Bitcoin’s (BTC) tight correlation with the legacy markets continues to be a drag, especially as the United States equity markets remain in a firm bear trend. The Dow Jones Industrial Average … Read more
SOL price has been repeatedly knocked down by network outages, a shrinking total value locked on the network and futures traders’ disinterest in trading the altcoin. The past thirty days have been an extremely bearish time for cryptocurrencies. The sector’s aggregate market capitalization plunged 33% to $1.31 trillion and Solana’s (SOL) downfall has been even … Read more
Ailing stock markets continue to impact crypto prices and technical analysis suggests BTC is at risk of falling below its recent $25,500 low. On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish … Read more
Chainabuse allows crypto users, victims of financial crimes and crypto businesses to report, discuss and actively issue warnings to reduce the effectiveness of scams. Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool … Read more
“Ethereum’s overwhelming mindshare helps explain why its users have been willing to pay more than $15 million in fees per day on average just to use the blockchain,” a16z stated. Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum is “unmatched” despite the network’s high transaction fees. The firm … Read more
Okay, Bears has quickly become amongst the most popular collections of non-fungible tokens based on Solana. At the time of this writing in May 2022, the collection has also become the most actively traded one on OpenSea, surpassing the likes of the Bored Ape Yacht Club, Azuki, CloneX, and others. The following is a deep … Read more
When Solana’s price hit new lows near $54, the total value locked (TVL) for the token also declined to a historical low. According to data from Defi Llama, the token’s TVL has been on a steady decline since November 2021. In that month, it reached an all-time high of $15 billion but then lost momentum … Read more
BTC and most altcoins are facing strong selling at the top of each rally, but the short-term downside could be limited since Bitcoin bulls keep buying each dip. The selling in Bitcoin (BTC) is showing no sign of abating and Bitcoin has fallen for seven straight weeks for the first time ever. This indicates that … Read more
FTX CEO’s comments on Bitcoin received heavy backlash from the crypto community, with many reminding him of Solana, a PoS network that has gone offline half a dozen times. Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the … Read more