Category: Cryptocurrency News

Curve Finance, a decentralized liquidity pool for stableswap and stablecoin trading, has disclosed a strategic partnership that will see the decentralized exchange (DEX) launch on the TRON network.  Curve Set To Launch On Tron And BTTC Networks Decentralized Exchange, Curve Finance has solidified its position as the second largest DEX, following the announcement of its integration into the TRON network. Curve Finance’s recent alliance with the TRON network has prompted a substantial investment from TRON DAO Ventures, a venture capital firm established by the TRON network. On Thursday, August 17, TRON Founder, Justin Sun purchased $2 million worth of CRV, the native token of the DeFi protocol.  Similarly, Curve Finance has stated that it will be launching on the BitTorrent Chain (BTTC) network, a peer-to-peer network blockchain scaling solution for file and data sharing. The Integration of the protocol into TRON DAO and BTTC networks aims to fuel the development of innovative DeFi projects and the growth of DeFi ecosystems.  Curve Finance is widely known for its role in stable coin trading by providing low slippage exchanges through automated market maker (AMM) algorithms. By aligning with the protocol, TRON  and BTTC will benefit from lower financial costs and indirect backing from prominent blockchains Curve DAO supports including Avalanche, Ethereum, and Arbitrum. Justin Sun welcomed the newly formed alliance with enthusiasm. He commented that Curve Finance plays a pivotal role in the DeFi ecosystem and blockchain industry and looked forward to new innovative solutions promoted by the partnership.  “Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let’s support and strengthen the security measures to protect our decentralized ecosystem,” Sun stated.  CRV price resting at $0.54 | Source: CRVUSDT on Tradingview.com Compensation For Hack Victims Following Tron Alliance The decentralized finance (DeFi) landscape was previously shaken up following news of a hack on the DEX. On July 30, Curve Finance fell victim to a reentrancy attack that exploited vulnerabilities in its smart contract codes, resulting in a loss of $62 million.  Following the news of the hack attack, the CRV token declined and the majority of the DeFi ecosystem was in panic. However, Curve Finance has reportedly recovered 70% of the funds and to recover the rest of the stolen funds, the protocol has placed a bounty on the attacker, promising $1.85 million to anyone able to reveal the hacker’s identity.  Curve Finance has also promised to compensate victims of the security breach. The DEX has stated that it will distribute reimbursements fairly as they determine the extent of damages and work toward recovering the stolen funds.  Featured image from Zipmex, chart from Tradingview.com

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Sources reveal the real reason China is ramping up efforts to stamp out Bitcoin and crypto. And a year’s worth of 3AC court orders nixed.

The United States Securities and Exchange Commission isn’t likely to block the debut of Ethereum futures ETFs, according to sources.

The Dogecoin price is down around 5% in the last day following the general market crash. The meme coin which had seen improved sentiment did a quick 180 and started to bleed. However, while the Dogecoin price could only be following Bitcoin’s descent, are there other factors driving the decline? Why Is Dogecoin Price Falling? One reason that the Dogecoin price is down today is due to its proximity to Shiba Inu. The latter saw a highly anticipated Shibarium launch go awry on Wednesday, sparking rapid declines among the meme coins in its ecosystem. Related Reading: Can Ethereum Price Cross $2,000 Before The End Of August? As a result of this unfortunate event, the price of SHIB fell almost 10% in a matter of hours and this seemed to have spilled over to Dogecoin. Dogecoin, being a meme coin and the largest competitor for Shiba Inu, was expected to rally if SHIB had gone up as a result of the Shibarium launch. There is also the issue of competition expected between Dogechain and Shibarium, further fueling this correlation. The problem with such correlations is that they tend to follow the same negative, as well as positive, path. Given this, when the price of Shiba Inu started to fall, Dogecoin followed suit with the expectations that both of these assets would go in the same direction. DOGE price falls alongside SHIB in volatile market conditions | Source: DOGEUSD on Tradingview.com Additionally, DOGE, being one of the top 10 largest-crypto in the space, often tracks the performance of Bitcoin quite closely. So as Bitcoin declined off the back of the FOMC meeting, Dogecoin was hit with a double-decker bus, plunging it deep into the red territory. Can DOGE Price Recover From Here? It is not all bad news for Dogecoin according to crypto analyst “Tony The Bull.” In a recent analysis, he points out that DOGE had tagged the 1-month parabolic SAR. Now, this is notable because the last time the meme coin touched this level was back in 2021. DOGE tags 1M Parabolic SAR | Source: Tony The Bull on X The result of this was that DOGE’s price went from $0.0018 to over $0.7. This translated to an over 24,000% increase at the time. So it stands to reason that if the altcoin is tagging this 1M parabolic SAR again, then there could be a rally in the near future. Related Reading: Will Bitcoin Price Crash Similarly To 2019 And 2020? However, it is unlikely that the price of DOGE will actually rise more than $50 at this level. This is because the crypto market is still in peak bear season while 2021 was peak bull season. Nevertheless, a rally toward $0.09 is not out of the question. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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