https://t.me/CryptoMarketUpdates

2022-11-29 08:39:02 Investing in Bitcoin Still Makes Sense, Says Tom Lee

Fundstrat’s head of research – Tom Lee – remains a bitcoin bull and believes the asset could serve as a proper investment tool for certain investors. He added in a recent interview that the entire crypto industry had a horrific year, but he expects the upcoming 2023 will not be the same.

2022 has indeed been a bad year for crypto, with ‘bad’ being quite the understatement. From the declines at the start of the year due to macroeconomic events to the implosion of Terra, which, aside from wiping out two top 10 cryptocurrencies, started a domino effect that ultimately took down countless industry participants. Fundstrat’s Tom Lee believes next year should be better than this one.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-28 07:47:02 Fenix Games raises $150M to fuel next-generation blockchain gaming

Web3 game publisher Fenix Games raised $150 million in funding to acquire, invest and distribute blockchain games. The fund will be used to create a game publishing company specifically for mainstreaming blockchain games. Fenix Games’ latest funding round saw participation from investors.

GameFi's constantly evolving model could make “today's AAA game companies look like peanuts,” said Jack O’Holleran, CEO of Skale, a multichain Ethereum-native network that powers Web3 games. Finding a sustainable GameFi model, however, remains a challenge. User experience ranks amid the top struggles in the industry owing to high gas fees and technical complexity.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-27 07:52:02 Huobi Token continues run of strong form, up 64% since bottoming

The Huobi Token (HT) recorded 64% gains, rising from a local bottom of $3.70 on Nov. 13 to a price of $6.06 at the time of press. Following a run on FTX, that culminated in the exchange filing for Chapter 11 bankruptcy, cryptocurrency token prices.

On Oct. 8, founder Leon Li announced selling his entire controlling stake in the exchange to Hong Kong-based About Capital Management. As part of the shakeup, a press release from Huobi dated Nov. 22 set out a new direction for the exchange. It spoke about rebranding the firm and giving “ full play to the important strategic attributes of HT.”

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-26 08:06:02 MakerDAO delegates approve GnosisDAO token as DAI collateral

MakerDAO token holders and delegates have approved GnosisDAO (GNO) tokens as a new vault type for its multi-collateral DAI stablecoin system. A future executive vote will finalize the process of GNO becoming collateral for minting DAI.

Data from the voting page shows 91% approval for onboarding the GNO vault. The result means GNO is one step closer to being used as collateral for minting DAI — the stablecoin issued by the Maker protocol. The Maker governance already voted yes to the proposal in September. An executive vote in late December will be the final step in the process.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-25 10:46:24 Crypto Cup Kickoff: Predict Your World Cup Winner to Share the 500,000 $USDT Prize Pool!

Bybit is giving you a golden opportunity to earn a share of our 500,000 $USDT prize pool when you correctly predict the winners of each stage of the FIFA World Cup 2022!

In addition, Bybit has 0 fees on all Spot pairs, Copy Trading and Trading Bots.

Find Out More Open / Comment

2022-11-25 06:54:02 Proximity Labs unveils $10 million developer fund for trading protocols on Near

Blockchain research and development firm Proximity Labs and three decentralized exchanges on the Near Protocol blockchain — Orderly Network, Spin, and Tonic. The fund is aimed at further strengthening the decentralized trading ecosystem on Near Protocol.

The fund will provide grants and investments to new developer teams that build on top of Orderly, Spin, or Tonic, which are decentralized trading protocols that rely on virtual order books. These projects offer trading experience akin to centralized exchanges, using the Near blockchain as the settlement layer. New projects can plug into these protocols and use the liquidity they offer for their own tools.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-24 07:56:02 DCG's Foundry Digital buying Compute North facilities amid possible Genesis bankruptcy

DCG's Foundry Digital is buying two cryptocurrency mining facilities and other assets from Compute North. It has an option to acquire a third facility that is under development. DCG’s Foundry Digital is buying two cryptocurrency mining facilities.

The deal comes as reports swirl that DCG’s Genesis, whose Global Capital suspended redemptions and new loan originations last week in the wake of FTX's collapse, may be filing for bankruptcy. The New York Times reported that it had hired investment bank Moelis & Company to explore options. Compute North has sold off a number of other assets, including two mining facilities valued at $5 million.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-23 07:55:02 Curve DAO token plunges 14% under heavy short-selling pressure

The trader sold nearly all of the borrowed CRV tokens on centralized and decentralized spot exchanges, on-chain data shows. Typically short sellers will use a centralized perpetual trading platform, making this trader's short play unique.

The selling pressure triggered a sharp fall in price. The token crashed over 14% at one point, going from $0.52 to $0.43, according to CoinGecko. CRV was trading at $0.47 at 7:00 a.m. ET. Short sellers bet the token price will fall to make a profit. Borrowing on lending platforms and selling tokens is a manual way to take a short position on a particular asset.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-22 08:38:02 Ren Bridge announces open source community led Ren 2.0 in response to Alameda fallout

The Ren Bridge project announced in its ‘Ren Community’ Medium blog on Nov. 18 the ways in which it plans to move forward with Alameda Research. the update on Ren Community explained that Ren’s development team has only enough funding to manage until the end of the year.

Ren explained that this shift towards ‘sunsetting’ Ren 1.0 has been issued to protect users, the integrity of the protocol, and to ensure a fully community-controlled network is established in Ren 2.0. Upon launch, Ren claims this network upgrade to 2.0 aims will provide a fully decentralized and community-owned cross-chain network.

Source

https://t.me/CryptoMarketUpdates Open / Comment

2022-11-21 06:44:02 South Korea investigates crypto exchanges for listing native tokens

Biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea's financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges.

Crypto exchange FTX and its 130 affiliate firms recently filed for bankruptcy due to a price crash of its in-house token, FTX Token (FTT). While Korean crypto exchanges are barred from issuing native tokens, KoFIU’s probe into the same is to ensure regulatory adherence for investor’s safety, according to a local report. Initial investigations revealed that all crypto exchanges performed lawful operations across South Korea.

Source

https://t.me/CryptoMarketUpdates Open / Comment