Binance takes legal action against fake billboard ads in Turkey
Trying to cash in on Binance’s popularity in the country, scammers in Turkey have been found to rent numerous billboards to advertise fake Binance-themed opportunities.
Trying to cash in on Binance’s popularity in the country, scammers in Turkey have been found to rent numerous billboards to advertise fake Binance-themed opportunities.
Clouds on the horizon grow nearer as markets prepare for more inflation cues this week.
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LFG outlined that it will first loan out $750 million worth of BTC to over-the-counter trading firms to manage the capital and “help protect” UST.
The answer is obvious, invest in projects with good fundamentals, or the ones that you believed will go parabolic in the next bull run. My portfolio consists of 50% BTC, 40% ETH, and 10% BUSD. Not the most impressive portfolio, some even called it the pussiest one, but I'm happy with it. So back to…
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The oil industry has had a chaotic two years. Crude oil prices were down early in the COVID-19 pandemic; nevertheless, the price has now topped $100 per barrel. Moreover, the worldwide benchmark, Brent crude oil, is currently trading above $111 per barrel. There has been a considerable rise in gas prices worldwide because of the rise in oil prices. If prices continue to rise, as many economists predict, it would stifle economic development, induce decreased consumption, and, in some situations, spark political instability. The increasing gasoline costs have already sparked fatal riots in nations such as Kazakhstan, Iran, and Zimbabwe. And, the significant factors for this have been the rebound in fuel consumption since the height of the coronavirus outbreak and supply difficulties in the aftermath of Russia’s invasion of Ukraine. Even analysts at JP Morgan Chase & Co and Bank of America have predicted that the Russian disruption will send oil prices up to $185 per barrel. Reasons for Rising Fuel Prices Oil has had a history of more significant fluctuations in price than any other asset. The Organization of Petroleum Exporting Countries, or OPEC, is the primary driver of oil price changes. Second is the supply and demand rules. Prices fall when supply exceeds demand, and vice versa when demand exceeds supply. The current instability is because of Russia’s conflict in Ukraine, which has caused crude oil prices to climb over $100 a barrel. Further, crude oil prices have risen rapidly over the recent weeks as the US and its western allies implemented severe sanctions on Russia. As a result of this, citizens’ lives are affected due to fuel prices’ direct impact on increasing inflation. Even the cost of other essential products has increased drastically, leaving people devastated. Making the Most of Rising Panic Rising fuel costs are putting economies under a lot of pressure. Many are worried about how it will affect the cost of other essentials rather than focusing on how to benefit from the situation. Some solutions can aid in these situations, and specific DeFi projects, such as Duet Protocol, offer them a unique approach called synthetic asset collateralization. Users have to provide liquidity to the protocol, which will be utilized to generate synthetic assets. For example, a user can provide liquidity and choose to mint dWTI, a synthetic asset whose price is pegged to WTI crude oil. And with this asset, users can earn rewards and other utilities within Duet’s ecosystem. Moreover, the platform allows users to mint synthetic assets like Oil futures, stocks, commodities, ETFs, Indexes, and Real-estate by providing capital to its reserve. These assets, represented as dAssets, can be traded in swaps (DEX), staked to earn rewards, or held in wallets to gain exposure. And, the benefits of holding them instead of their physical equivalents is that they provide greater liquidity, high-speed transactions, easy accessibility, transparency and low transaction fees. Minting Synthetic Assets on Duet Protocol Duet’s Synthetic assets are divided into two categories, stablecoin and dAssets(synthetic assets including but not limited to synthetic index, synthetic commodities, synthetic real estates, synthetic inverse asset, synthetic leverage asset, etc). Currently, dUSD, dWTI and dXAU are the only dAssets supported with more of them coming soon. The process of minting these assets includes users providing collateral. Duet accepts more than a dozen high-quality assets such as wBTC, ETH, USDT, DAI, LTC, etc. as collateral. Interestingly, Duet Protocol accepts assets unique in the DeFi world as collateral. It includes LP tokens in large swap protocols and deposit certificate tokens in the credible lending protocols to enhance the efficiency of users’ funds and the composability of protocols. While minting Synthetic assets is just one part of the protocol, the platform will also facilitate the listing of creative synthetic assets, such as synthetic stablecoins that track the inflationary level and NFTs. Anyone will be able to list these assets permissionless with the help of oracle providers like Chainlink, Band or Uniswap. This makes Duet Protocol the infrastructure for collateral treasury, satisfying liquidation demands while also assisting with regulatory compliance. In addition, Duet will create a unique market-making mechanism using synthetic assets with high liquidity and trade volume. This eliminates the need to incentivize liquidity providers with tokens and allows for arbitrage between TradFi and DeFi to sustain the protocol’s liquidity. And, as a result, all “buying orders” on-chain will be dealt directly. Volatility Is All That Matters The best investments are made during volatile times. Economic conditions keep fluctuating for various reasons, and one should take advantage of these opportunities. The current state of rising fuel prices may be an ideal time to invest in some assets. And, synthetic assets from Duet Protocol, may be worth considering, given its rewarding mechanism. The current war scenario and interest rate hikes may last for a long time, but it is up to people to seek out and grab opportunities.
Leading U.S. crypto exchange Coinbase has reportedly notified certain Russian customers that their accounts may be blocked at the end of this month. According to Russian media, the trading platform has offered them to withdraw their funds unless they prove they are not under sanctions. Coinbase Reportedly Asks Russian Clients to Withdraw Funds Some Coinbase […]
The Bitcoin market appears to be retracing the gains it has made since January as whales may be exiting and selling on centralized exchanges according to Glassnode.
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Ethereum started a major decline from the $2,700 zone against the US Dollar. ETH dived below $2,550 and might accelerate lower below the $2,420 support. Ethereum started a major decline after it failed to surpass $2,700. The price is now trading below $2,550 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,490 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further if there is a close below the $2,420 support zone. Ethereum Price Takes Hit Ethereum struggled to settle above the $2,700 resistance. ETH topped near the $2,700 level and started a fresh decline. There was a sharp move below the $2,620 and $2,550 levels. The bears even pushed the price below the $2,500 level and the 100 hourly simple moving average. A low is formed near $2,422 and the price is now consolidating losses. On the upside, an initial resistance is seen near the $2,485 level. There is also a key bearish trend line forming with resistance near $2,490 on the hourly chart of ETH/USD. The trend line is near the 23.6% Fib retracement level of the recent decline from the $2,703 swing high to $2,422 low. The first major resistance is near the $2,565 level. It is near the 50% Fib retracement level of the recent decline from the $2,703 swing high to $2,422 low. The main breakout zone is now near the $2,650 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com A close above the $2,650 level could open the doors for a decent increase. In the stated case, ether price might rise towards the $2,700 resistance. More Losses in ETH? If ethereum fails to gain pace above the $2,565 resistance, it could continue to move down. An initial support on the downside is near the $2,420 zone. The next major support is near the $2,400 level. If there is a downside break below $2,400 and the recent low, ether price might accelerate lower. In this case, it could even decline below the $2,350 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now moving in the bearish zone. Hourly RSI – The RSI for ETH/USD is now well below the 50 level. Major Support Level – $2,400 Major Resistance Level – $2,565