Category Archive: Cryptocurrency, No picture
How Polygon and xDai Will Adopt EIP-1559
Key Takeaways Polygon and xDai are two Ethereum sidechains. They run their own consensus mechanism and have their own native tokens. The two networks are planning to introduce their own takes on Ethereum’s EIP-1559 fee burning proposal. Introducing a variant of EIP-1559 could lead their native tokens to appreciate in price due to a reduction […]
Bitcoin Whales Book Profits as Steep Correction Looms
Key Takeaways Bitcoin’s uptrend seems to be reaching a point of exhaustion. Whales have been selling in preparation for a pullback. The $45,230-$46,560 resistance level will decide where BTC goes next. This news was brought to you by Phemex, our preferred Derivatives Partner. On-chain metrics have registered a spike in profit-taking behind Bitcoin following an […]
Lionel Messi Will Receive Crypto for Joining PSG
This news was brought to you by Phemex, our preferred Derivatives Partner. Lionel Messi has signed a two-year contract with Paris Saint-Germain. The undisclosed deal is said to include a “large number” of PSG fan tokens. Messi Receives Crypto Tokens As part of a signing bonus for a two-year contract with French soccer club Paris […]
SushiSwap Says Optimism Showed Favoritism to Uniswap During Layer 2 Launch
Key Takeaways Joseph Delong, CTO of SushiSwap, has accused Optimism of giving preferential treatment to Uniswap. Delong believes that Optimism favored Uniswap because of influence from venture capital (VC) investors. Optimism has denied accusations of any preferential treatment. SushiSwap CTO Joseph Delong has accused Optimism, a Layer 2 scaling project, of giving preferential treatment to […]
Polygon Rallies as Whales Go Into Buying Spree
Key Takeaways MATIC is up more than 20% in the last 24 hours. Buying pressure continues rising despite the recent gains. Polygon may be targeting $1.83 as it faces no resistance ahead. This news was brought to you by Phemex, our preferred Derivatives Partner. Polygon’s native token MATIC appears to have entered a new uptrend […]
TRON Foundation Launches $300M GameFi Fund
Key Takeaways TRON Foundation is launching a $300 million fund in collaboration with APENFT and WINKLink. The fund’s primary goal is to boost GameFi ecosystem growth on the TRON network. Justin Sun, who founded TRON and has recently become an avid digital art collector, thinks GameFi is the next big thing in crypto. The fund […]
Cardano Could Be Ready to Retest All-Time Highs
Key Takeaways Cardano is up 15.8% in the past 24 hours. The upward price action allowed it to turn a significant supply barrier into support. Now, ADA faces no opposition to retest the $2.47 all-time high. This news was brought to you by Phemex, our preferred Derivatives Partner. Cardano was recently on shaky grounds as […]
Bipartisan Amendment Held Up By One Senator
Key Takeaways The cryptocurrency amendments to the Infrastructure Bill have all been rejected in the Senate. The amendment necessitated unanimity to be added to the bill, but Richard Shelby (R-AL) rejected the amendment. The Alabama Senator chose to reject all amendments as long as his own amendment increasing military spending wasn’t included as well. A […]
Latest Tether Report Says USDT Is 10% Backed by Cash
Key Takeaways Tether has published a new assurance report detailing the composition of its financial reserves. Those numbers suggest that USDT is backed by more than 50% cash equivalents, including 10% cash and bank deposits. The report was conducted by the auditing firm Moore Cayman. This news was brought to you by Phemex, our preferred […]
Bitcoin Targets $50,000 But Profit-Taking Looks Imminent
Key Takeaways Bitcoin is heading into the green after breaking above $45,000. On-chain data shows that the asset could advance to $50,000 with little opposition. However, one technical indicator suggests that a spike in profit-taking is underway. Bitcoin has stolen the crypto spotlight as its price surged by more than 5.5% following Monday’s open. The […]
