Category: Cryptocurrency News

BTC and altcoins are holding at their current support levels, but this week’s comments from the Federal Reserve could be a determining factor in short-term price action.

I don’t know when this started happening but a considerable number of users on this sub have turned discussion and discourse into something VERY toxic and honestly its slowly ruining this sub. What is the use of a crypto subreddit IF YOU CANT TALK FREELY ABOUR CRYPTOS??!! Why the toxicity? I’m not obligated to justify…
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Anchor Protocol, one of the most popular platforms in the Terra ecosystem, rolled out a change in its Earn Rate. The latter will begin to operate in a semi-dynamic fashion rather than the previously fixed 20% annual percentage yield (APY). Related Reading | Terra Price Continues Moving North; How Soon Will It Cross $100?  With a massive shift in the protocol’s reward mechanism, the new models aim at making Anchor “more sustainable”. As a result, users started earning an 18% APY as of yesterday, May 1. The earn rate will be modified each month for the foreseeable future. The team behind this Terra project said the following via their official Twitter account: The Anchor Earn rate adjusts dynamically by up to 1.5% each month based on if the yield reserve appreciated or depreciated. The floor is 15% APY & the ceiling is 20% APY. The changes in Anchor’s earn rate are triggered by the protocol’s yield reserve. A .25% modification in this element will be followed by an adjustment in the Earn Rate. This shift in the Terra protocol was approved, via Proposition 20, on March 24 this year. At the time, Anchor Protocol said: The addition of a semi-dynamic Earn rate will contribute to the long-term sustainability of Anchor & will benefit users of the protocol by enabling yield reserve growth while continuing to provide an attractive yield on UST. As seen below, the total borrowed versus total deposits on Anchor shows significant divergence. This is why the yield reserves on the protocol trend to the downside, especially in times of bearish price action on larger cryptocurrencies. Some of the users believe that this trend could trigger a deppeging event for UST which could jeopardize the entire Terra ecosystem. The introduction of a semi-dynamic rate is the first step to avoiding this possibility. Terra Is Not The Most Attractive Venue For Stablecoin Yield? Some users believe that the new earn rate might not be enough and have been suggesting the implementation of investment strategies that can contribute to the yield reserves. Another part of the community seems focused on increasing the borrowing rate at Anchor. However, as the chart above shows, deposits on the Terra protocol have been trending to the upside at a fast pace. In the meantime, the number of borrows has been moving sideways with a slight uptick in recent months. Over the same period, other network launched their own stablecoins with alternatives to Anchor. NEAR and TRON stand out because of the hype and the APY that they are offering to their users. TRON seems to have the largest incentives as it provides depositors with a 30% APY. Like Terra users with Anchor, many wonder if those rewards will be sustainable. Related Reading | Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR At the time of writing, Terra (LUNA) trades at $83 with a 6% profit in 24-hours.

As we all continue to be depressed about Bitcoin not doing anything in the past four months while being down 45% from its ATH for half a year. Bitcoin does not care and is undergoing a prime phase of mass adoption with everything from loans to option trading in banks to legal tender. Especially there…
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Yuga Labs faces accusations of fraud, manipulation and preferential treatment from unhappy community members over Otherdeeds NFT mint.

Hi everyone, My good friend, Matty D (Only his real friends call him this) told me that fortune favors the brave. Now, Matty D would NEVER lie to me. He’s my most trusted ally. So, what did I do? I invested EVERYTHING into CRO. Why? Matty D, a man that has been to Mars, guaranteed…
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For the sake of clarity first. Both of my parents know that I invest in crypto and are both not big fans of it. My mom is a little more relaxed on the subject than my dad. I had to explain it to my parents because I am only 18 and wanted to start at…
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Mairead McGuinness said the U.S. and the EU were both moving forward on comprehensive frameworks for crypto, with President Joe Biden’s executive order and the MiCA proposal.

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Bitcoin is not topping the list of the favorite investments of some big names in the financial sector. One of those is billionaire Warren Buffett who has not been shy to voice his displeasure with the digital asset. This time around, Buffett has once again made known his hatred for the digital asset by saying that he would not buy all of the BTC in the world for $25. This has drawn the ire of investors in the space, one of which is Mexico’s third-richest man, Ricardo Salinas Pliego. Warren Buffett Disses Bitcoin Billionaire and legendary investor Warren Buffett recently made some remarks about bitcoin. The most popular of these have been the fact that he said that if he were offered all the bitcoins that exist for a measly $25, he still wouldn’t take the deal. The Berkshire Hathaway head said this at the annual shareholder meeting where he once more reiterated his disdain for cryptocurrencies. He explained that bitcoin had nothing to offer, making it an unproductive asset with no tangible production.  Related Reading | Tether (USDT) Q1 Trading Volume Plunges To $5.3 Trillion In Quarterly Low He compared the digital asset to other stores of value which include land and apartments. Both of these, the billionaire admitted he would jump at a chance to put money into them. However, he wouldn’t do the same for bitcoin because it doesn’t produce anything and he would “have to sell it back to you one way or another.” Despite the popularity of the digital asset over the years, the billionaire is still not convinced of its valuability. He pointed to the fact that he can’t tell for sure where the asset will be in the next five or 10 years but remains completely sure of the fact it does not produce anything.  “It’s got a magic to it and people have attached magics to lots of things,” Buffett noted. Salinas Fires Back Buffett’s comments about bitcoin have no doubt stirred up criticism from the bitcoin community. They came out en masse to support and fire back at Buffett after the video made the rounds on social media. Bitcoin supporter and Mexican billionaire Ricardo Salinas Pliego also took time out to rebuke Buffett’s comment. BTC holding the $36,000-$38,000 support level | Source: BTCUSD on TradingView.com Salinas noted that Buffett was old and immune to change. Also adding that he was obviously commenting that he has no understanding of whatsoever.  It's sad to see him rambling on about a suubject he clearly does not understand. That's why the future ALLWAYS belong to the young and not the OLD. https://t.co/2L5Lc8zHjE — Ricardo Salinas Pliego (@RicardoBSalinas) May 1, 2022 Related Reading | Bitcoin Halving Model Suggests $24,000 Bottom Before Year’s End The billionaire has not been the only one to fire back. Others have pointed out that Buffett continues to have holdings in crypto-friendly bank Nubank, as well as SBI Holdings and Bank of America which own more than 10% of Ripple and a Ripple partner respectively.  BTC continues to maintain a good position on the charts. It is currently trading at $38,690 at the time of this writing. Featured image from Bitcoin News, chart from TradingView.com