Cryptocurrency Analysis and News Portal
Bitcoin is crashing again, temporarily plunging it to below $20,200 earlier today, as spooked traders have frantically been selling off the cryptocurrency before the US Federal
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Key takeaways: Tron DAO Reserve has announced that it has purchased Bitcoin and TRX worth $50 million to add to USDD’s reserves. USDD is currently overcollateralized to the tune of 197%. The stablecoin of USDD is now backed by 14,040.6 Bitcoin, 140 million USDT, and 1.906 billion in TRX. The purchase of Bitcoin and
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On-chain data shows Bitcoin exchange reserves have now reached new 4-year lows, a sign that could prove to be bullish for the crypto’s price. Bitcoin Exchange Reserve Has Sunk Down Further Recently As pointed out by an analyst in a CryptoQuant post, the BTC exchange reserve has been going down, suggesting buying
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The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was
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Cryptocurrency investors and traders have cashed out $7.7 billion from the stablecoin Tether (USDT) resulting in its market capitalization falling by 7.8% over the past seven days to $76 billion.The amount withdrawn from the top stablecoin is nearly double the $4.1 billion it held in cash reserves at the end
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After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend the UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that
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Quick take: Tether’s CTO has stated that the company has reduced its holdings of commercial paper and increased its US Treasuries as reserves for USDT Tether also announced that the USDT stablecoin had stood the test of time USDT also suffered depegging this week as stablecoins were in the spotlight after UST’s and
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Amid the sharp pullback across Bitcoin (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 billion worth of capital to “help protect” Terra USD’s peg to the U.S. dollar. The Singapore-based nonprofit LFG is part of the Terra (LUNA) ecosystem and
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The Luna Foundation Guard has acquired Bitcoin valued at $1.5 billion in a series of OTC transactions. Source
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Quick take: The narrative of Bitcoin being a store of value is gathering momentum Countries are diversifying their foreign currency reserves away from the US Dollar The war in Ukraine could accelerate the de-dollarization of FX reserves as investors, corporate treasures, and possibly central banks look to Bitcoin as a store of value According
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