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05 Nov 2022 05:46

📉 Coinbase MTUs beat estimates, trading volumes miss

Coinbase's third quarter sales missed estimates while its Monthly Transacting Users (MTUs) topped expectations. Shares whipsawed in after-market trading. The cryptocurrency exchange said revenue for the third quarter was $590 million, coming in shy of the $641 million estimate of analysts surveyed by FactSet. MTUs came in at 8.5 million, above the 7.7 million estimate.

Coinbase also said next year would be difficult, noting that it was preparing "with a conservative bias and assuming that the current macroeconomic headwinds will persist and possibly intensify.". Shares in the exchange fluctuated after hours, first trading down around $53.40 before briefly trading above $60. Coinbase shares were trading at $57.50 after the market close, up from $55.80 at the close. MTUs were 9 million during the second quarter versus 9.2 million in the first quarter.

Source

@TradeCryptoNow

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03 Nov 2022 06:14

📣 MetaMask partners with NFTBank for improved NFT price tracking

NFTBank, a firm building tools to improve NFT value and data visibility, has partnered with major web3 wallet provider MetaMask. Through this collaboration, MetaMask is launching a new NFT portfolio tool that informs users of the changing price value for their NFTs using NFTBank’s valuation engine.

The need for understanding the appropriate price of NFTs has become ever more clear with many learning the dramatic volatility of NFT markets the hard way, and simultaneously learning the potential of NFTs as a new digital asset class,” Daniel Kim, the CEO of NFTBank, said in a company statement. Two of the most popular NFT projects, Bored Ape Yacht Club and CryptoPunks, are both worth about 65 ETH, or $103,000, The Block’s Dashboard showed on Tuesday.

Source

@TradeCryptoNow

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02 Nov 2022 04:37

📣 PieDAO proposes token buyback after ending liquidity mining program

DeFi yield platform PieDAO has filed a proposal to its community for a phased buyback of its tokens, after ending the protocol’s liquidity mining program in October. The goal is to prevent a further price decline — although the token is already down 98%.

PieDAO’s liquidity mining program incentivized those providing liquidity on the platform with tokens. Some of these tokens were liquid while the majority were subject to a one-year vesting schedule. Token emissions used to reward liquidity providers increase the number of the protocol’s tokens in circulation, hence why they often lead to a decline in price over time. In PieDAO’s case, the DOUGH price declined 98% during its liquidity mining program.

Source

@TradeCryptoNow

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31 Oct 2022 03:55

🪙 Dogecoin shoots by 115% in a week as bulls push DOGE to reclaim 5-month high

Meme cryptocurrency Dogecoin (DOGE) is recording significant gains in the wake of Twitter’s (NYSE: TWTR) acquisition by Tesla (NASDAQ: TSLA) CEO Elon Musk. The asset is also witnessing increased buying pressure, with investors hoping Musk’s takeover of the social media giant will likely give DOGE more utility.

In particular, by press time on October 29, Dogecoin was trading at $0.12, recording gains of 115.25% from the $0.05 value witnessed on October 23. Furthermore, the DOGE weekly chart shows the price peaked at $0.14 on October 23, representing a five-month high. At the same time, the asset is recording a spike in capital inflow. By press time, the token controlled a market cap of $16.86 billion, representing an additional $9.02 billion within a week.

Source

@TradeCryptoNow

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29 Oct 2022 04:36

📣 DeFi protocol deBridge to launch new standard for cross-chain transfers

DeFi protocol deBridge is set to launch DeSwap Liquidity Network (DLN), allowing users to complete cross-chain transfers without all the associated risks of using a bridge network, according to a press statement shared with CryptoSlate.

According to the press release, the DLN architecture enables limitless cross-chain value transfer with zero slippage and no need for assets to be locked in the ecosystem. According to the interoperability-focused company, it can achieve this with DLN thanks to its design. Instead of the locked liquidity of existing bridges, DLN design is based on liquidity on demand through a P2P liquidity marketplace.

Source

@TradeCryptoNow

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04 Nov 2022 09:22

💸 Crypto fund-of-funds Protocol Ventures is shutting down: Bloomberg

Bloomberg reported the news on Thursday, citing unnamed people familiar with the matter. The shuttering is expected by the end of this year or the first quarter of next year, per the report. Protocol Ventures reportedly sent notices to investors at the end of October about the move.

Protocol Ventures was founded in 2017 by serial entrepreneur and venture capitalist Rick Marini, reportedly as the first-ever fund-of-funds for cryptocurrencies. The fund had started with $1 million of Marini's own money and it had hoped to raise $100 million at the time. Investors in Protocol's fund-of-funds may have lost as much as 90% over the past year, according to the Bloomberg report.

Source

@TradeCryptoNow

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02 Nov 2022 15:57

​Do you want to really own your name? 👀

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You are presented with a unique chance to be among the first NFT name owners this Friday, November 4, as we’re initiating the auction sale at Waves Domains.

Being an early bird means that you will be able to get a hold of the most prized names, either for your own use or for making some profit later. The trend is just picking up, get in while you can!🔥🔥🔥

NFT names can be used as a handle for a number of Waves services, including wallets and exchanges. No longer will your wallet address look like a random collection of numbers and characters, which simplifies incoming transactions.

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To ensure fair pricing and distribution, the sale will take the form of a Vickrey auction with sealed bids.

Make sure to join our channel to stay tuned for the final sale announcement!

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01 Nov 2022 03:57

📉 Crypto Platform Hodlnaut Lost $190 Million From Terra’s Crash

The Singaporean cryptocurrency lending platform – Hodlnaut – reportedly lost approximately $190 million due to its exposure to Terra’s algorithmic stablecoin UST. The latter’s collapse in May has been one of the most notorious crypto events so far this year. Numerous sources revealed that the crash of the native token LUNA and the stablecoin UST caused crucial losses.

The Singaporean entity seems to have been hiding the facts for a while. Bloomberg’s data disclosed that Hodlnaut deleted over 1,000 “key” documents that could have shown the aforementioned exposure. As such, the judicial managers were unable to solve the issues between the company’s Hong Kong subsidiary and Hodlnaut Pte in Singapore. The former supposedly owes $58.3 million. Hodlnaut suspended withdrawals, deposits, and token swaps in August, citing “difficult market conditions.”.

Source

@TradeCryptoNow

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30 Oct 2022 06:54

🥇 Over 70% of Bitcoin millionaires were wiped over three quarters in 2022

Since the start of the year, the cryptocurrency market has lost almost $1 trillion in market cap due to the downward pressure imposed on it, culminating in a run of bankruptcies involving crypto hedge funds and lenders, including Celsius Network, Voyager Digital, and Three Arrows Capital, and the scaling back of operations at firms like Blockchain.com and Coinbase.

According to data compiled by Finbold, the number of Bitcoin millionaires fell by 70.23% in the first three quarters of 2022 due to the bear market, with the total number of Bitcoin millionaires as low as 29,497 as of September 28, 2022. an additional 4,102 of the addresses had a combined balance of approximately $10 million or more at the end of Q3.

Source

@TradeCryptoNow

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28 Oct 2022 05:49

💰 SushiSwap's new Head Chef describes himself as a 'wartime CEO'

Decentralized exchange SushiSwap Head Chef Jared Grey is certainly aware that he’s got a tough grind ahead. Amid these issues, SushiSwap has largely faded out of sight. While the exchange once nearly matched main competitor Uniswap’s volumes, last month it saw just 2.2% of the activity on Uniswap.

Grey, who took on the role three weeks ago — after a lengthy search and public hiring process — has joined a team marred by controversy and personal disputes. The role has been occupied by three individuals in the past, one who stole $16 million from the project’s treasury, one who was ousted by the team, and one who erupted on Twitter blaming everyone but himself. Yet Grey is optimistic that he can turn things around in the same way as a new CEO might revive a dying business.

Source

@TradeCryptoNow