LuxeCoin

2023-06-21 17:59:00 Bitcoin

The price broke out of the consolidation range and now heading up to the $27,400 resistance. Moreover, there is a descending trend line as well, it needs to be broken first.

In case we see a confident breakout of the $27,400, chances of going back to $29,000 - $30,000 zone will be quite high. Open / Comment

2023-06-20 17:59:54 ECB’s Panetta Reinforces Digital Euro Focus on Payments

Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.

Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project was reaching its final stages of research, and stated that one of the first goals of the project is to establish it as a universal payment method. Open / Comment

2023-06-19 17:07:12 Synthetix Founder Suggests To Simplify Staking SNX In New V3

According to Warwick, with the arrival of Perps and its innovative skew balancing mechanism (as shown below), SNX staking has become safer than ever. However, the complexity of the process remains a significant barrier to entry for new bettors.
To simplify the staking process, this module will help users simply deposit SNX and will not face market risk or the need for hedging. This simpler staking approach aims to attract new users to the Synthetix V3 system.

Initially, the Treasury Board will fund this pool (see STP-4), but in the future, a portion of the protocol fees may be allocated to this staking pool. This new form of SNX staking will become the main gateway to the Synthetix ecosystem.

In addition to the new staking module, Synthetix V3 introduces the SNX Liquidity Supply (SNXLP). LPs will provide collateral to the marketplaces in Synthetix V3 and receive all generated protocol fees, less fees for initiatives such as integration offers.

The SNX LP system has several advantages over the old staking system. It allows LPs to choose which markets to mortgage, and it provides for new unlicensed markets. It is likely that spot markets will have more neutral deltas in V3 to minimize costs for bettors, making it more likely that bettors in V3 will switch to LP over time.

To ensure the transition to V3 goes as smoothly as possible, the SNX staking pool will be launched as a test. Open / Comment

2023-06-18 17:45:10 Bitcoin-Based Strike Debuts Lightning Network Cross-Border Payments in Mexico

Bitcoin payments firm Strike has extended the reach of its cross-border payments service to Mexico, as the company aims to leverage the country’s expansive remittances market.

As of June 14, 2023, the company has introduced its 'Send Globally' service to the third-largest country in Latin America. The service allows users to send funds internationally, providing a convenient solution for cross-border transactions.

Based on data from BBVA Research, in 2021 94.9% of remittance payments flowing to Mexico originated in the US.
According to the digital payments firm, transfers to the country’s citizenry account for approximately 95% of total remittances processed by Strike from overseas senders.

With this move, U.S. dollars (USD) sent to Mexico via Send Globally “will be received as Mexican Pesos in the recipient’s bank account.” – helping to reinforce Strike’s presence in Latin America.

The announcement follows closely on the heels of Strike CEO and co-founder Jack Mallers' recent revelation that the company has decided to bring its custody operations in-house. Open / Comment

2023-06-17 17:25:36 USDT depegs again!

I actually think that it's just because #BTC has broken $25k level, so there's a lot of buying and selling around here. Most likely USDT will re-peg soon! Open / Comment

2023-06-16 17:57:27 BlackRock's Bitcoin ETF: Top Expert Foresees Win-Win-Win Scenario

BlackRock, the world's largest asset manager, is positioning itself to introduce a Bitcoin exchange-traded fund (ETF), leveraging a potentially groundbreaking partnership with Coinbase and NASDAQ.

In a recent tweet, analyst Nate Geraci speculated that BlackRock is mediating between the SEC and Coinbase, a prominent cryptocurrency exchange.

This maneuver would present a win-win-win scenario: the SEC would gain a regulated crypto exchange, Coinbase would secure its business and BlackRock could potentially become the first to launch a spot Bitcoin ETF in the U.S.

A critical part of this arrangement is the NASDAQ's role in overseeing the spot market data that would inform the pricing of the proposed ETF.

Jeff Roberts, a Fortune reporter, suggests that NASDAQ's involvement could mitigate the SEC's fears about possible price manipulation. Such concerns have been pivotal in the SEC's rejection of previous Bitcoin ETF applications.

The possible approval of this ETF could open the floodgates for institutional players like pension funds to invest in Bitcoin. The credibility brought by BlackRock's entry into the Bitcoin ETF market, coupled with the NASDAQ's role in the spot market, might soothe the SEC's concerns.

The recent legal actions against Coinbase by the SEC underscore the pressing need for regulated crypto exchanges.

The impact of such a development on the crypto market would be significant, as emphasized by Mike Novogratz, a well-known Bitcoin investor.

As reported by U.Today, he underscored his support for the BlackRock initiative on Liz Claman's show, stating that the launch of a Bitcoin ETF by BlackRock would be the "best thing" for Bitcoin. Open / Comment

2023-06-15 14:10:28 Clay Nation: The First Cardano-Based Project To Join The Sandbox Metaverse

Clay Nation partners with The Sandbox as the first Cardano-based project, welcoming web3 participants to the metaverse. Cross-chain PFP-avatar collection interoperability allows Clay Nation Cardano NFT holders to integrate their avatars into The Sandbox, offering unique in-game experiences.

The collaboration brings Sonic Sands, an immersive world of music, collectibles, and creativity, with mini-games and vibrant social spaces for players to explore.  The partnership between The Sandbox and Clay Nation introduces a pioneering concept – cross-chain PFP-avatar collection interoperability. Holders of original Clay Nation Cardano NFTs have the remarkable ability to seamlessly integrate their avatars into The Sandbox. This means merging two captivating worlds.

Imagine crafting unique wearables and sought-after items using in-game resources or browsing the vibrant in-game merch store for exciting additions. The collaboration between Clay Nation and the imaginative minds at Smobler brings forth the enchanting Sonic Sands experience. Spanning a vast 2×2 LAND within The Sandbox, Sonic Sands offers players an immersive journey into a world. Open / Comment

2023-06-14 13:33:50 ETH/BTC UPDATE

Unfortunately, after 8 days (!) of staying above the trend line, the price dumped back inside the Falling Wedge.

We all know the reason — FUD, but it is a pity anyway.

Now there are two strong support levels from where we may expect a bounce: 0.0675 and if it fails, there is a 0.0656 lower.

Altcoin season is still close, but was postponed, again. Open / Comment

2023-06-12 15:43:54 Binance CEO CZ responds as data points to billions in exchange outflows

Leading analytics platforms such as Nansen and DefiLlama have all measured increased exchange outflows from Binance over the past seven days.

According to Nansen, there has been a net outflow of $2.36 billion from Binance over the past seven days, along with $123.7 million flowing out of Binance. US.

DefiLlama reported an even larger figure of $3.35 billion in outflows from Binance, while Glassnode data shows the exchange’s BTC balance having declined by 5.7% or around $1 billion over the past seven days.

CZ argued that some exchange outflow data can be skewed as some third-party analytics measure change in assets under management as “outflow,” which would include times when crypto prices decline.

"Some even only measure outflow, not inflows. On a sharp price movement day like today, many arbitrage traders move a lot of funds between exchanges, usually exponentially more than on normal days.” Open / Comment

2023-06-11 17:58:36 Binance Sees $700 Million in Ethereum Outflows Amid SEC Charges

The world’s largest crypto exchange, Binance, saw outflows of more than $700 million on the Ethereum network alone on Monday after news broke that the exchange is being sued by the US Securities and Exchange Commission (SEC).

The news of the outflows was shared by on-chain analysis platform Nansen on Twitter on Tuesday, with the tweet noting that net flows, even in the past hour, continues to be negative.

According to Nansen’s data, the 24-hour net outflow from Binance on the Ethereum network (ETH and ERC-20 tokens & stablecoins) now stands at $778.6 million.

Looking solely on BinanceUS, the US-based branch that is actually targeted by the SEC, the net outflows on Ethereum over the same period stood at $13 million, Nansen said. Open / Comment