InvestmentTradingUpdates

2023-01-02 14:10:05 Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability

Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P).

The Venezuelan government is aiming to monitor the the movements of crypto-based P2P exchanges to protect the value of the bolivar. On Dec. 20, the Venezuelan banking watchdog Sudeban explained that it is in the process of designing a system to monitor banking transactions in real-time, with the help of Sunacrip, the national cryptocurrency regulator.

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2023-01-01 09:45:03 On-chain metrics signal upcoming BTC volatility

The open futures interest and the futures estimated leverage ratio metrics had reached their highest levels for over a month, which indicates an upcoming Bitcoin (BTC) volatility, according to Glassnode data analyzed by CryptoSlate.

The chart above shows the BTC futures open interest on a daily basis since Oct. 17. As of Dec. 30, the metric exceeded over 500,000 BTC, marking its highest level for over a month. The Futures Estimated Leverage Ratio is a metric that represents the ratio between the open interest in futures contracts and the balance of the corresponding exchange.

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2022-12-31 12:03:02 Gate.io’s BTC Derivatives Market Share Up 19.4% Despite Market Drops

The crypto market may have found its bottom, according to CoinGecko Q3 report. The overall crypto market cap hit $903 billion in July before ending the quarter at around $986 billion, with activity on exchanges shifting following the market decline.

CoinGecko noted an overall trend of some “newer, more retail-oriented” exchanges suffering significant losses as OG investors stick to older and more established exchanges. Additionally, the report highlighted how Gate.io is gaining market share at Binance’s expense. Open interest (OI) on Bitcoin perpetual swaps decreased by 7.6% on Binance while growing by 19.4% on Gate.io.

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2022-12-30 21:04:02 Midas Investments The Latest Victim Of FTX Turmoil Is DeFi Yields Platform Company

Iakov “Trevor” Levin, the CEO of Midas Investments, posted a blog on Tuesday announcing the company’s abrupt closure. The platform concentrating on DeFi yields is closing its doors for the last time due to severe losses in 2022.

According to Levin, in the spring of 2022, the platform’s DeFi portfolio lost 20% of its assets under management (AUM). a success worth $50 million. After FTX and Celcius failed, consumers withdrew more than 60% of AUM, creating a significant asset deficit, which worsened the issue. We have made the tough decision to terminate the platform based on those events and the “current CeFi market conditions,” he added.

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2022-12-29 10:26:02 Daily crypto trading falls below $10 billion for the first time since 2020

Daily spot market trading volume for crypto exchanges fell below $10 billion for the first time since December of 2020, according to The Block's Data Dashboard. Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000.

The last time daily spot trading volume was below $10 billion was on Dec. 17, 2020, when the price of bitcoin had surged past $20,000 for the first time just the day before, The Block previously reported. Bitcoin trades now around $16,800. NFT transactions have also fallen alongside crypto trades, with The Block data showing that NFT sales have decreased every month since April.

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2022-12-28 07:59:02 BitDAO Releases Proposal For BIT Purchase Program Open For Voting

The BitDAO community has opened voting on a proposal for a BIT purchase program as part of its strategic plan for DAO deployment. The proposal suggests setting the Target Daily Purchase Amount (TDPA) at 2 million USDT per day starting January 1, 2023, for 50 days.

Similar to traditional corporations, when there are few options for deployment, excess capital may be distributed to token holders or repurchased from them. Apart from the objectives and risk tolerance of the DAO, token holders have varied risk appetites and possibilities that they might pursue with their own funds.The DAO has also started working on its own initiatives, and in 2023 it intends to introduce the Mantle Ethereum Layer 2 network.

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2022-12-27 10:51:02 FTX collapse calls for ‘prudent regulation’ in the UK

The United Kingdom is taking cautionary lessons from the collapse of FTX as calls for greater regulation come from public and private sector institutions. The collapse of FTX is being viewed as a cautionary tale and a precursor for more prudent regulation by public.

Bank of England deputy governor Sir Jon Cunliffe made headlines ahead of the Christmas weekend in an interview with Sky News, outlining his belief that greater protection needs to be afforded to investors in the U.K. looking to gain exposure to cryptocurrency markets. asset class that ensures similar consumer protection and integrity to conventional financial markets.

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2022-12-26 10:10:02 DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss

Defrost Finance, a decentralized leveraged trading platform on Avalanche blockchain, announced that both of its versions — Defrost v1 and Defrost v2 — are being investigated for a hack. The announcement came after investors reported losing their staked Defrost Finance (MELT) .

Moments after a few users complained about the unusual loss of funds, Defrost Finance’s core team member Doran confirmed that Defrost v2 was hit with a flash loan attack. At the time, the platform believed that Defrost v1 was not impacted by the hack and decided to close down v2 for further investigation.At the time, the platform believed Defrost v1 was not impacted by the hack and decided to close down v2 for further investigation.

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2022-12-25 09:46:02 Binance Has No Debt And Assets Are Segregated, Report Says

Binance has been under intense scrutiny since it released its proof of reserves about a month ago. The crypto exchange had done so in a bid to assure users that all deposited funds were safe and that it was not going to collapse like FTX.

As the FUD ramped up, more than $6 billion was withdrawn from the exchange in a matter of days. Now, Binance has come forward to address the most pressing questions from the community. Binance said that user assets on the crypto exchange were backed at a 1:1 ratio, which means they would be able to withdraw their coins at any time.

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2022-12-24 09:36:02 Ethereum could outshine Bitcoin in 2023 with massive growth in layer-2 transactions

Ethereum, the second largest cryptocurrency by market capitalization, witnessed massive growth in its ecosystem despite deflation in risk assets in 2022. Bloomberg strategists believe the altcoin is set to outshine the largest cryptocurrency.

Ethereum, the largest altcoin by market capitalization and the second-largest cryptocurrency, is competing with Bitcoin for dominance. Strategists at Bloomberg noted that Ethereum price increased consistently against Bitcoin, despite the bear market. The Ethereum/Bitcoin (ETH/BTC) cross rate is 0.08, nearly the same as May 2021 when the Nasdaq 100 stock index was 20% higher.

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