Ethena Labs, the creators of USDe, have taken a significant step in scaling USDe’s supply by incorporating Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. The decision to include BTC as a backing asset was strategically important as it aimed to leverage BTC’s superior liquidity and scalability for delta hedging, ultimately providing a more
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Cardano (ADA) has once again captured the attention of crypto analysts who are actively discussing its future trajectory. Recently, analyst Alan Santana has presented a bearish narrative for the crypto token, suggesting a potential drastic drop in its price. Santana’s analysis revolves around ADA’s breakout below the $0.58 price level, which had previously served as
Recently, there has been a significant increase in the number of short-term Bitcoin holders engaging in buying activities, with over 1.2 million BTC accumulated since December 2023. This surge in accumulation has caught the attention of market analysts, as it represents a departure from the traditional accumulation patterns seen in the cryptocurrency market. While whales
Binance’s NFT marketplace recently made a major decision that has sent shockwaves through the crypto community. The platform announced that it will no longer support Bitcoin Ordinal NFTs after April 18. This means that users will no longer have the option to buy, deposit, bid on, or list these unique digital assets on the platform.
In the ever-evolving world of cryptocurrency, XRP (XRP) finds itself struggling to gain momentum in 2024. With the price of XRP hovering around $0.58, down 22% from its recent highs, many XRP holders are looking for greener pastures. This has led to a surge in interest and investment in a new eco-friendly AI crypto called
Cryptocurrency analyst PlanB has made headlines with his bold prediction that Bitcoin will reach $100,000 this year, despite the prevailing bearish sentiment in the crypto market. He confidently stated in a recent video that he believes hitting the $100,000 mark is inevitable for Bitcoin. Not stopping there, he even suggested that $100,000 might just be
The Ethena token (ENA) has seen a staggering 13% surge in just 24 hours, with an overall increase of 53% since its listing on Binance. ENA serves as a governance token for Ethena’s decentralized finance (DeFi) protocol, offering a yield-earning dollar-pegged stablecoin known as USDe with an impressive 35% APY. Unlike traditional stablecoin rivals like
The recent criminal charges faced by the cryptocurrency exchange Binance in Nigeria have brought to light the lack of legal representation the company had during its court hearing on April 4. Surprisingly, only the compliance chief, Tigran Gambaryan, was present at the hearing, despite being detained by the Nigerian government since February. The hearing, which
In a bold prediction, VanEck, a well-known banking firm, has valued Ethereum Layer-2 (L2) solutions at an astonishing $1 trillion by 2030. This valuation highlights the significance of efficiency gains and scalability improvements in the advancement of blockchain technology. The prediction was spearheaded by Patrick Bush, a senior investment analyst at VanEck, and Matthew Sigel,
The cryptocurrency market recently experienced a significant correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price has dropped by approximately 6% over the past week, currently trading around $65,400 according to CoinGecko’s data. One possible reason for BTC’s increased volatility and decline could be attributed to long-term holders cashing out