Search Results for: Near Protocol

“Bitcoin Ordinals nonfungible token user activity saw a 98% decrease since May, going from $452 million to $3 million as of August 14. This calls into question the longevity and relevance of Bitcoin Ordinals in the NFT market. However, its place in the NFT landscape and its future response to the growing divide over trading fee preferences remain to be seen.”

“Last week saw a significant shake-up in the cryptocurrency industry with Bitcoin (BTC) and Ether (ETH) falling around 8% and 5%, dragging the broader market’s total capitalization down. This downturn was influenced by several factors including macroeconomic conditions and volatile financial markets. Despite this, opportunities are emerging for investors in the meme coin market and crypto presales.”

“Thursday saw Bitcoin dip to new multi-month lows below $28,000, and Ether dropping 3.7%, under $1,750. Rising inflationary pressures and hawkish Fed meeting outcomes are potential factors. However, some tokens like THORChain’s RUNE and Kava experienced growth. Further, investing in crypto presales could offer high-risk-high-reward opportunities for crypto investors.”

“Shiba Inu’s new Ethereum scaling solution, Shibarium, experiences issues on launch day, causing the meme token’s price to plunge. Developer Shytoshi Kusama attributed the troubles to extreme traffic, alongside a broader crypto market slump. The article suggests considering alternative meme coins such as Wall Street Memes and Sonik as SHIB’s price dwindles.”

“The Sei Network’s native token, SEI, made a grand entry with a $1.8 billion fully diluted valuation. Amid market enthusiasm, potential investors are keeping an eye on SEI’s performance. The transaction speed, scalability, and utility of SEI tokens on various platforms could determine its future valuation. Cryptocurrencies like SEI play a significant role in digital economies, and market watchers eagerly await its impact on the dynamic digital paradigm.”

Despite a 50% drop in overall NFT trading volume since January, DeGods, a PFP project, shows resilience with a 197% surge in trading volume to about $2.5 million. It coincides with the purchase of 158 DeGods, placing DeGods at the top of OpenSea’s leaderboard. However, DeGods’ floor price declined during this sales burst, suggesting fluctuating NFT sales trends. DeGods recently announced “Season III” which will introduce 20,000 new artworks and renew unattractive traits, initiating an intriguing wave in the NFT market.

“Aave founder Marc Zeller proposes the Aave Treasury to purchase $2 million worth of CRV tokens, stirring mixed reactions in the DeFi community. Some see this as a boost to the DeFi ecosystem, others warn about increased risk of CRV liquidation.”

“Abracadabra Money, a cross-blockchain lending platform, proposes a rate hike to counterbalance its CRV exposure risks by increasing its outstanding loan interest rate by 200%. This is in response to recent exploits that exposed Abracadabra to significant CRV risk, leading to a liquidity crisis.”

“The cryptocurrency market is undergoing changes, fluctuating with Bitcoin seeing reduced volatility rates that may prelude significant price swings. Interest in Ethereum’s ZkSync Era is rising, and despite economic uncertainties, new legislations and developments highlight the continuously evolving crypto landscape.”

Cryptocurrency prices, including Bitcoin and Ethereum, have welcomed the anticipated interest rate increase by the U.S. Federal Reserve. Bitcoin experienced a 0.8% surge while Ethereum saw a 0.5% rise. According to Lex Sokolin of Generative Ventures, crypto’s overall story remains unaffected despite macroeconomic events. Equity markets show mixed responses, but further rate hikes might occur.

Andreessen Horowitz (a16z), venture capital giant, has reportedly sold some of its investments in the crypto lender MakerDAO’s MKR governance tokens. Tracking by Ethereum blockchain Etherscan revealed $7 million of MKR being moved from a16z’s crypto wallet. It appears that the value of these tokens peaked last Friday, following a new token buyback scheme, prompting the sale. This sale comes despite a16z holding a significant amount of MKR, and amidst a major overhaul of the MakerDAO protocol.

Solana-based DeFi protocol Parrot.fi has proposed a controversial phase-out of its PRT token, distributing the project’s multimillion-dollar treasury to token holders. This would significantly affect believers in Parrot Finance, as the redemption rate offers a low value per token. Despite its rocky performance, the protocol will persist, leaving PRT holders powerless over its decisions.

“The Maker protocol introduced a token buy-back scheme, aiming to repurchase approximately $7 million worth of MKR over the coming month, creating market enthusiasm. However, conditions indicate possible overbuying, advising market caution. Despite this, optimism remains in the cryptocurrency’s healthy chart setup.”

“Maker, a major player in decentralized finance, has increased in value due to a token buyback initiative. The ‘Smart Burn Engine’ buys back MKR from a UniSwap pool when surplus DAI stablecoins exceed $50 million. Despite only reducing supply by 0.7% monthly, this move could have significant psychological effects.”

The ProShares Bitcoin Strategy Fund, a pioneer ETF, allows investors to gain bitcoin exposure without owning the cryptocurrency. Contrary to early predictions of underperformance, the fund has closely tracked bitcoin’s price, potentially negating perceived risks of such ETFs.