Cryptocurrency Analysis and News Portal
In the last 24 hours, Binance has seen a net outflow of $400 million on Ethereum, according to blockchain analytics firm Nansen. This compares to a net flow of $2 billion over the past seven days. Savvy traders who Nansen considers “smart money” operators have also removed $9 million over
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"The technology we’ve developed eliminates the challenges of impermanent loss and liquidity mining, which will enable us to scale and create an inclusive multi-chain DeFi ecosystem with a feature-rich, easy-to-use DEX at the heart of it," Ramani Ramachandran, co-founder of Dfyn, told CryptoX. Source
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Trading firms were quick to jump on the USDC long trade over the weekend as the stablecoin slumped to $0.88 amid banking concerns in the U.S. Source
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The mass burn reversed Circle’s early March trend where it had been minting more USDC than it was destroying. Between March 1 and March 9, Circle minted a net average of $143 million USDC a day, but this trend has since changed: Starting on March 10, Circle has burned a
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Traders using decentralized finance (DeFi) protocols to bet on a USDC revival over the weekend are at risk of eight-figure liquidations if the stablecoin loses its $1 peg again this week. Source
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On-chain liquidations occur when the value of collateral added by a user borrowing an asset slumps, and the user is then required to add more margin to avoid it being liquidated. Conversely, the user will also risk liquidation if the value of the borrowed asset rises beyond borrowing capacity. Source
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The hopeful optimism of Bitcoin (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance.Now Bitcoin price is threatening a retest of the $22,000 level and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike
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Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication. According to a statement, the transaction was performed through the Masterchain blockchain
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Anatoly Yakovenko, the founder and CEO of Solana Labs, has denied claims that Solana’s network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer.While the Solana Foundation confirmed in a Feb. 27 post that the “root cause” of the
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Voyager Digital, the centralized finance (CeFi) platform that filed for Chapter 11 bankruptcy in July 2022, is reportedly selling assets through the Coinbase crypto exchange. On-chain data suggest that Voyager received at least $100 million in USD Coin (USDC) in three days, starting Feb. 24.Since Valentine’s Day, Feb. 14, Voyager
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