The Ethereum price (ETH) is in a downtrend, falling to a low of $1,420.90. Long term analysis of the Ethereum price: bearish The price of the largest altcoin’ has been moving in a range between $1,500 and $1,700 since January 20. Buyers failed to keep the price above the resistance level of $1,700. After rejection at the $1,680 high, selling […]
Read moreSoon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin from the U.S. dollar. However, not all investors were lucky enough to walk away with their funds amid the uncertainty. To cut losses, investors started selling their USDC tokens in […]
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Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark. On March 9, Circle had initiated a wire transfer for the removal of its funds from SVB as the […]
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. DeFi has become a prominent choice for investors after multiple centralized finance (CeFi) collapses throughout 2022. Some key interest areas for investors include “NFTfi,” on-chain derivative platforms, decentralized stablecoins and Ethereum layer 2’s. February […]
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Some AAVE users who accidentally sent tokens to the wrong address may soon be able to recover them, according to the text of a proposal passed by the AAVE decentralized autonomous organization (DAO) on March 10. The proposal, called “Rescue Mission Phase 1 Long Executor,” authorized AAVE developers to upgrade smart contracts that have been mistakenly sent tokens in the past, […]
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USD Coin (USDC) issuer Circle exposure to the United States banking system sits near to $9 billion, according to its latest audit report from January. Circle’s reserves are held in a number of regulated financial institutions in the country, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon. According to the report, the amount held in cash […]
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With the Bitcoin (BTC) halving more than a year away, don’t expect crypto industry narratives to change anytime soon. Nay, crypto winter is still in full force, and the nasty headlines show no signs of abating. This week, Silvergate Bank’s parent company announced it would shut down and liquidate the crypto bank “in light of recent industry and regulatory developments.” […]
Read moreFebruary was the most successful month for the NFT market. Professional traders perked up and started making more trades. Does this mean the market is recovering or is it a temporary thaw. What do the experts think about it? Alex Skorik, CMO of Bluelight The trading volume of NFTs exceeded $2 billion in February 2023, marking the highest sales figure […]
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The Voyager Digital deal with Binance.US has faced legal challenges from financial regulators seeking to stop the acquisition. Binance.US won the bid to acquire Voyager Digital assets last December, but the deal has not gone through yet. In the recent hearing with Michael Wiles, a Bankruptcy Judge in the Southern District of New York, Binance.US received a go-ahead notice to […]
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