Sam Bankman-Fried: FTX Would Be More Stable if CZ Stayed Silent
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submitted by /u/OneThatNoseOne [link] [comments]
As of late, PancakeSwap has been working with Hashflow to offer HFT payouts on its staking platform. The Tweet implies that this will make it possible for someone to utilize PancakeSwap to “farm” HFT tokens for profit. For a decision to be voted on by PancakeSwap users, it must be supported by the votes of 60% of HFT token holders, as is customary in the DeFi community. Let’s take a quick glance of how CAKE has been performing of late: Overall, the DEX is making great strides When compared to its risk, CAKE’s volatile price and low return make it unappealing If a bearish breach occurs, the price might fall below $3.575 The positive developments for PancakeSwap don’t end here. The DEX made headlines in October when it offered to its community that it switch from the BNB chain to the Aptos mainnet. The overwhelming majority of locals responded favorably to this plan. In contrast, CAKE, PancakeSwap’s native coin, is struggling. From what we can tell, CAKE is on the upward, but a monthly pessimistic comment casts a shadow over the positive picture. Related Reading: Litecoin (LTC) Continues To Impress With 25% Rally In Last Seven Days Not Appealing Enough To Potential Financiers? CAKE may be a sweet-sounding asset, but it is currently performing poorly. After dropping precipitously due to FTX’s demise, the price is now only fluctuating sideways. The token has recovered since then, with recent support being located at $3.943. Its price fluctuates between $4.433 and $3.575 per share. Chart – TradingView As a token, Messari metrics likewise do not look particularly attractive. Sharpe’s ratio is -1.96, indicating a discrepancy between the asset’s inherent risk and return on investment. The asset’s volatility is also at its highest level since June. The technicals are a mixed brew of neutral and bullish indicators. With an R-value of 0.22, regression analysis indicates that the sideways trend will continue. The RSI is on the rise, which may be indicative of a near-term price increase. Can CAKE Once Again Be Tasty? The unexpected stability of the Bollinger band increases the sideways price movement. As most moving averages, including the EMA ribbon, are displaying strong sell signals, the moving averages pose an issue. The support at $3.93 is unquestionably robust, as the red candle currently has a longer bottom wick as a sign of strength. However, the rising triangular formation will provide some support for bears. If the bears gain traction and break through $3.93, investors and traders can take consolation at $3.847, and a drop to $3.575 is possible. Related Reading: ApeCoin Falls Below $4 Again As Its Treasury Sells Its Own Token Holdings CAKE total market cap at $636 million on the daily chart | Featured image from Taste, Chart: TradingView.com
While Chainlink staking v0.1 will go live on the mainnet on December 6, the LINK price has shown a strong performance over the past week. At press time, LINK was trading at $7.58, and thus up 13.5% over the last week. Still, Chainlink has been going sideways for seven months. However, thanks to dovish comments from U.S. Federal Reserve Chairman Jerome Powell during a speech yesterday, the horizon for relief rallies within the crypto market are widening again. Looking at the daily chart, Chainlink is still in the middle of its 7-month range, yet the introduction of staking could generate much more interest for the project. Related Reading: US Institutional Investors Flocking Back To Bitcoin – Is The Bottom In? LINK has not made new lows within the 1-day time frame recently, which suggests bull strength from a technical perspective. Chainlink (LINK) price has risen 35% since its recent low. Nevertheless, the upper end of the 7-month range remains the next crucial target in the daily chart. If LINK is able to break out, the next target could be the zone around $12.30. On a smaller time frame, LINK is in the middle of its 7-month range, where key resistance zones can also be found. In the 4-hour chart, a correction was recently observed, after which a renewed upswing occurred. From a technical perspective, LINK should not fall below $6.70. Once LINK begins to hold here, it is prudent to look at the $8.50 to $9.50 zone, where the next key resistance is located. Chainlink Staking As Catalyst For A Price Boost? With Chainlink staking v0.1 released on the Ethereum mainnet on December 6, the project aims to complete an iterative approach to developing future versions of staking beyond this initial release. Originally, a lock-in period of 12-24 months, based on a conservative release cycle, was planned. However, after discussions with a number of community members and node operators, it is now clear that a faster iteration with frequent releases, each with a compressed scope, will be the final solution. Related Reading: Polygon Surges 12%, Edging Bitcoin And Ethereum, In Last 24 Hours The next version of staking (v0.2) is now scheduled for release in 9-12 months. At that time, stakers from v0.1 will be able to unlock or migrate their staked LINK and rewards for the first time. On December 6, only a few addresses will initially be eligible for staking. They will be able to stake up to 7,000 LINK worth about $53,000 in a capped staking pool. On December 8, the staking pool will be open to all. Again, there will be an initial cap on the pool of 25 million LINK. As staking reduces the supply of liquid LINK, it could be a potential price catalyst, boosting the Chainlink price out of its 7-month range. Investors should therefore closely watch LINK’s performance over the next two week.
I'm just a regular worker in finance, following said rules my whole life and got established to some extent. When I first heard about bitcoin in 2012 in undergrad, I scoffed at the idea of artificial currency that is technologically advanced, but mainly used for silk roads and chinese money laundering. That… cant replace the…
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I'm just a regular worker in finance, following said rules my whole life and got established to some extent. When I first heard about bitcoin in 2012 in undergrad, I scoffed at the idea of artificial currency that is technologically advanced, but mainly used for silk roads and chinese money laundering. That… cant replace the…
Read more
I added this newish serious tag as most of the threads in the past that asked this question got a ton of joke answers, and real/truthful answers were often buried. I know many people’s first instinct is to say “nice try” or “tattooed on my balls.” …But I want to know for real how other…
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Russian financier and cryptocurrency entrepreneur Vyacheslav Taran has been killed in a helicopter crash on French territory. The accident marks the latest in a series of deaths of crypto executives and adds another name to a list of Russian billionaires who died this year under mysterious circumstances. Libertex President Perishes as His Helicopter Crashes on […]
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