Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include an algorithmic stablecoin, and the newly minted tokens […]
submitted by /u/ilyazshone [link] [comments]
Hello, This is a template I made to easily keep track of my investments. I've decided to share it for free as a give back to the community. 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐬 ————- https://www.youtube.com/watch?v=gIlkqdGDb8s 𝐇𝐨𝐰 𝐢𝐭 𝐰𝐨𝐫𝐤𝐬 (𝐆𝐮𝐢𝐝𝐞 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐝) ——————————————- Portfolio’s Currency is selected. History is inputted either with a CSV file or manually (Transactions, Trades,…
Read more
submitted by /u/Brother-Numsee [link] [comments]
submitted by /u/Gotigers811 [link] [comments]
The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of this had been Tether USD, whose peg saw the most opposition as its peg to the U.S. dollar was heavily challenged. This challenge suggests that there could be more volatility coming. Tether Challenge Ramps Up One thing to note is that periods of challenges like these are mostly arising from periods of extreme market stress and liquidations. Such were the market conditions for the last week after the UST de-pegging. This ultimately leads to large deviations in the price of stablecoins such as USDT and USDC when it comes to the $1 peg. Although in this case, the majority of the deviations were recorded in USDT alone as USDC held up better in the market. Related Reading | Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market Tether (USDT) which has always operated under high scrutiny from some in the market had begun trading below its $1 peg after the UST news broke. This gap would grow a bit wider with time although the stablecoin would regain its peg once more. However, the scrutiny that accompanies the stablecoin explains why it was the obvious target of the market. USDT loses dollar peg following UST crash | Source: USDT/USD on TradingView.com This had inadvertently created an opportunity for funds that had access to Tether redemptions. These funds had been able to take advantage of this slight de-pegging and presumably profited off it until the digital asset could return to its 1:1 peg. More Volatility Coming? On Thursday, the market saw one of the highest yearly volatility trends in a one-day period. This volatility had been brought on by the massive sell-offs that rocked the market, although this volatility has since declined since then. Related Reading | Ethereum Hashrate Breaks All-Time High, Will Price Follow? However, with the USDT peg being continuously challenged in the market, there may be more volatility yet to come. If a stablecoin such as USDT, which is currently the largest stablecoin in the market, were to lose its peg, it would no doubt have an even worse impact on the market than UST did. Basically, a de-pegging such as this could see the market dive deeper given that more than 50% of all open interest in the derivatives market are USDT collateral-based. The asset also shares the most trading pairs of any other stablecoin. So a de-pegging could lead to historical level short squeezes which would essentially cripple the market. Also, an event like this would set mainstream acceptance back years as more people would become fearful of the market. Loss of USDT peg could lead to extreme volatility | Source: Arcane Research Featured image from CoinGeek, charts from Arcane Research and TradingView.com
PRESS RELEASE. An emerging NFT company, The Crypto Card Club, has developed an innovative system that aims to recognise and reward investors by merging real-world reward point systems with NFT and Web3 purchases. The groundbreaking service financially rewards holders for their usual NFT spending, attempting to minimise Web3 financial risks and safely help grow investor […]
Bank of France Governor François Villeroy de Galhau reportedly said that the recent crypto market volatility had been a “wake-up call” for global regulators.
Decided check the Daily post on the three days in the past around the last bitcoin bottom and see what people were discussing around that time. Links to daily post and screen shots of some of the top comments below. December 13, 2018 https://np.reddit.com/r/CryptoCurrency/comments/a5qn7z/daily_discussion_megathread_december_13_2018/ One day before the bottom Daily – Dec 13, 2018 December…
Read more
Ethereum network fees have dropped a great deal this week, sliding under $10 per transaction to levels not seen since March 10, 2022. On May 17, the average ethereum transfer fee is 0.0027 ether or $5.68 per transaction. The cheaper fees on layer one (L1) have made it so layer two (L2) fees have been […]
