The dYdX community overwhelmingly approved a proposal to stake 20 million DYDX tokens on Stride to strengthen the security of the protocol as DEX activity increases. The decentralized exchange (DEX) ecosystem has seen a notable increase in trading activity, prompting the dYdX community to take strategic steps to strengthen platform security and integrity. In a recent governance vote, the community approved a proposal to stake 20 million DYDX tokens, the platform’s native cryptocurrency, through Stride, a liquid staking protocol. The decision was reached with an impressive majority vote, with 91.7% of the votes cast in favor of the staking initiative.…
Author: Crypto Flexs
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The Ethereum market is picking up steam after a long-dormant “whale”, a major investor holding huge amounts of the cryptocurrency, re-emerged and transferred a significant amount of ETH to the Kraken exchange. The move has sparked speculation about a potential price drop, but broader market trends present a more complicated picture. Spot On Chain, an on-chain analysis company, revealed that an investor who participated in the Ethereum Initial Coin Offering (ICO) in 2014 recently deposited 1,069 ETH, worth about $3.56 million, in Kraken. Traditionally, deposits on exchanges are seen as a signal of selling intent, potentially putting downward pressure on…
Recently, the Solana network has been suffering from congestion issues, which have resulted in noticeable delays in transaction processing and many transactions being dropped.Users of the popular Phantom Wallet app from Solana and other apps have warned users of congestion and advised to expect longer wait times for transactions to be completed.Congestion affecting the network is primarily caused by an influx of spam transactions, with bots attempting to prioritize their own activity over that of regular users. This problem is further exacerbated by the rapid increase in transactions involving newly launched memecoins, placing enormous demand on the network’s block space…
Cryptocurrency trading has recently become the most preferred and lucrative way to make money for some people. Because the glorious digital market is very unstable. Therefore, traders need to have sound knowledge and be well-versed in banking on several strategies and tactics to stay ahead in the changing field. This in-depth guide will clarify all the important points and provide you with the trading strategies you need to compete in cryptocurrency trading.Understanding Cryptocurrency TradingBut before mentioning the strategies, let’s go over the basics of cryptocurrency trading. Compared to the regular stock market, the cryptocurrency market is available 24 hours a…
The Himalayan nation of Bhutan plans to expand its Bitcoin mining operations fivefold ahead of the upcoming halving event in April.BREAKING NEWS: 🇧🇹 Kingdom of Bhutan increases mining capacity 6x faster #Bitcoin It was halved to 600 MW.National state FOMO is setting in 🙌. pic.twitter.com/kLsU3fGk0U— Bitcoin Magazine (@BitcoinMagazine) April 5, 2024 According to Bloomberg, Bhutan’s sovereign wealth fund Druk Holding & Investments is working with Bitcoin miner Bitdeer to increase capacity from 100 MW to 600 MW. The country has taken institutional interest in Bitcoin, with state funds purchasing BTC since the price was around $5,000.Bhutan announced last year it…
Wormhole WednesdayBTC rebounds after reaching $64.5K, SOL outperforms. Government sends $2 billion worth of BTC to Coinbase for sale. Funding rates remain low even after sweeps. The ETF has less inflows, and Ark has more outflows than GBTC. Wormhole W launches with $15B FDV. There is an ‘inflection point’ when BTC follows interest rates or gold. Gold and BTC have shown a very high correlation over the past year. ETF trading volume expected to decline this month: Bloomberg. Yesterday the BTC 2x and 3x leveraged ETFs were launched. The BTC ETF is now half the size of gold.
Bitcoin price is showing some positive signs above the $68,500 resistance level. For BTC to continue rising in the near term, it will need to settle above the $70,000 resistance. Bitcoin is eyeing a steady rise above the $69,500 and $70,000 levels. The price is trading above $68,000 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bullish trend line forming with support near $68,800. If it stays above the $68,000 support zone, it could start a further rise. Bitcoin price maintains support Bitcoin price began a significant rise…
Singapore, Singapore, April 8, 2024, Chainwire DigiFT, the first on-chain real world asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the launch of its second series RWA Depositary Receipt (DR) token. DigiFT USD Money Market Fund Token (DMMF) aims to provide a new cash management option for investors interested in exploring alternatives within the cryptocurrency space. According to the company, the launch of DMMF tokens comes at a time of increasing demand for tokenized financial products. DigiFT claims the recent success of BlackRock’s tokenization fund, which raised $160 million within a week of…
A widely respected cryptocurrency strategist believes one Ethereum (ETH) rival is poised to witness a breakout rally. Pseudonymous analyst The Crypto Dog tells his 775,100 followers on social media platform X that he is bullish on smart contract protocol Near (NEAR). The analyst shares a chart that suggests NEAR is threatening to remove diagonal resistance from the daily chart. “NEAR is moving soon. Maybe not today, but maybe soon. BTC flat, SOL red, and NEAR green attract attention.” source: Cryptodoc/X Despite Near still struggling to move above the diagonal resistance, analysts say it is only a matter of time before…
Welcome to Latam Insights, a round-up of the most relevant cryptocurrency and economic news from Latin America over the past week. In this issue: Paraguayan lawmakers have introduced a bill to ban cryptocurrency mining, Brazil has changed its cryptocurrency taxation system, and a poll shows Latin America believes CBDCs could help fight corruption in the region. . Introduction to the Paraguayan National Assembly (…)