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The crypto market has lost momentum after the extended weekend in the United States. Bitcoin and other larger cryptocurrencies have been recording losses during today’s trading session and could continue to trend downside in the short term. Related Reading | TA: Ethereum Regains Strength, Showing Early Signs of Fresh Rally At the time
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CoinFLEX initially planned to resume withdrawals today. Original Source
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Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 million token offering.The new token is known as Recovery Value USD (rvUSD) and will be worth $1 each. It is designed to help CoinFLEX recover $47 million
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When asked of a potential bank run on Bloomberg TV Monday evening, CEO Mark Lamb said he’s unconcerned this scenario would occur as customers can withdraw their funds once the new token fundraise is complete. Lamb also said CoinFLEX plans to boost transparency for future positions, notional value of accounts,
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Bitcoin (BTC) passed through the $21,000 level in European afternoon hours, adding to a steady recovery since last weekend’s plunge to almost $18,000. Current levels have acted as a resistance zone for the largest cryptocurrency by market cap, and a recovery above could see the asset surge to $22,600. Source
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The latest recovery rally in the price of Bitcoin has now slowed down as on-chain data shows signs of dumping from whales. Bitcoin Exchange Whale Ratio Continues To Be At High Values As pointed out by an analyst in a CryptoQuant post, BTC whales are sending their coins to exchanges at the
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Bitcoin mining profitability has been dropping along with the market decline. The cash flow from the mining rigs has become increasingly stunted over time, causing bitcoin miners to begin selling their holdings to cover the cost of their operations. But even as this rages on, there is a bigger issue
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The price of bitcoin has made a remarkable recovery above $20,000 after a brutal week riddled with crashes. These dips had driven decentralized finance (DeF)/ lending protocol Celsius, to the brink of liquidation. However, as the price has recovered, the platform is once again able to hold out for longer
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Celsius’ lead investor BnkToTheFuture and its co-founder Simon Dixon have offered to assist the network by deploying similar “financial innovation” used in 2016 to save cryptocurrency exchange Bitfinex from liquidation.I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox
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Billionaire Mike Novogratz has warned investors to not expect much of a recovery in bitcoin anytime soon. Novogratz who serves as the CEO of the digital asset merchant bank Galaxy Digital has always been a big proponent of Bitcoin and its advantages. However, he has recently shared his thoughts on
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