Cryptocurrency Analysis and News Portal
Bitcoin rallied above $40,000 on Friday, however, this was not the biggest mover in crypto markets to end the week. Cryptocurrencies climbed today, following news that over 400,000 jobs were added to the U.S. economy last month. Biggest gainers Bitcoin (BTC) climbed to $40,000, ethereum was fast approaching $3,000, with Solana nearing
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The broader crypto market recorded its second day of growth ahead of a U.S. Federal Reserve (Fed) statement on Wednesday. Prices of bitcoin, ether and other major cryptocurrencies rose as much as 7% in the past 24 hours, with memecoin Dogecoin leading gains among the biggest assets by market capitalization.Terra's
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Formerly known as Polkaswitch, Swing helps traders and yield farmers move crypto across a number of layer 1 (base layer) and layer 2 (companion network) blockchains, including Ethereum, Polygon, Avalanche, Binance Smart Chain, Arbitrum and Moonriver. Source
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The stocks of other publicly traded miners, which are highly leveraged to the price movements of the cryptocurrencies they mine, have also dropped. On Friday, shares of Hut 8 (HUT) fell about 12%, Hive (HIVE) dropped more than 9%, Riot Blockchain (RIOT) dipped 7%, and Marathon Digital (MARA) fell about
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SOMA Finance, a decentralized exchange for trading digital assets and compliant digital securities, has completed a $6.5 million seed round led by blockchain gaming and open metaverse company Animoca Brands.SOMA aims to be a fully compliant decentralized exchange (DEX) and product suite for institutions and retail investors.Proposed services include built-in
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At press time, ADA was trading near $1.36, a 10.6% fall in the last 24-hour. Scaling solution Polygon's MATIC token fell 6% even as the network implemented Ethereum's fee-burning mechanism, which will destroy MATIC tokens making its supply deflationary. Solana's token SOL, binance token BNB, and ether each fell over
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Bahrain-based cryptocurrency exchange Rain Financial has raised $110 million in a Series B funding round co-led by Paradigm and Kleiner Perkins, according to a press release shared with CryptoX. The company will use the capital to pursue licensing in additional countries, enhance its technology platform and expand the team. Source
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Burnt Finance, a protocol built on Solana, has raised $8 million in a funding round led by Animoca Brands. It also launched its non-fungible token (NFT) platform.The capital will go toward adding staff and exploring partnerships with artists and other Solana-based projects.Burnt Finance, known for burning a piece of artwork
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Goldfinch has grown its outstanding loan volume from $250,000 a year ago to over $38 million. The protocol is serving over 200,000 borrowers in 18 countries. Goldfinch capital is being used for a wide range of uses, including motorcycle taxis in Kenya and small businesses in Brazil. Original Source
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Liquidations occur when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. This happens primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets. Source
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