Author: hotcrypto
At the end of May, the Monetary Authority of Singapore (MAS) announced Project Guardian, which aims to explore institutional DeFi on a public blockchain. At the time, the participants were JP Morgan, DBS Bank and Marketnode, the tokenization joint venture from the Singapore Exchange (SGX) and Temasek. Today Japan’s SBI Digital Asset Holdings announced that it has joined the project. DeFi for institutions Two major decentralized DeFi innovations are borrowing and lending platforms based on smart contracts such as Aave and Compound and automated market making (AMM) such as Uniswap for trading. However, these examples are all permissionless, whereas project Guardian is…
After the collapse of Terra’s UST stablecoin in May and the wipeout of $60B in market capitalization it has become increasingly urgent to see how stablecoins are backed. DAI, one of the earliest stablecoins, is one of the most important such tokens in DeFi.On a spectrum between fully algorithmic and backed by cash reserves, DAI stablecoin lies somewhere in between. Let’s learn more about DAI.DAI Origin and PurposeDAI stablecoin is supported by MakerDAO, a DeFi lender. Founded by Rune Christensen, the Maker Foundation launched open-source MakerDAO in 2014 to spearhead decentralized finance. Like other protocols, Maker runs on Ethereum’s smart…
First Published Sep 2, 2022, 1:01 PM ISTImmunicorn Finance (IMU), which attracts particular attention in investment trends, is on the investors’ watch list in this period when the cryptocurrency markets exhibit a positive trend. In the cryptocurrency markets, which tend to gain value, high profit expectations can be seen from many projects, including the IMU token. In particular, large investors investing in altcoins emphasise that the market is giving full buying opportunities right now. In addition to IMU, Cardano (ADA) and Neo (NEO) are solid coins to invest in during this bear market. Immunicorn Finance (IMU) Seems Resistant to the…
Quick take: In a lengthy Twitter thread, ZachXBT has uncovered one of the leading groups behind NFT Discord hacks.The crypto scam investigator claims that the group stole millions from hacked NFT Twitter accounts.According to ZachXBT’s findings, renowned crypto hacker Cameron Redman is the person behind recent NFT Twitter hacks.Popular NFT trader and crypto scam investigator ZachXBT has uncovered one of the groups behind NFT Discord hacks. According to ZachXBT, Cameron Redman is the alleged person behind the recent NFT Twitter hacks. The NFT trader points to an incident in 2020 when the alleged hacker SIM swapped $37 million worth of…
For those willing to concede to the speculative nature of the cryptocurrency market, it might prove to be a massive investment. However, the major crypto crashes at different points in 2022 are glaring indications that you cannot afford to delve carelessly into purchasing any cryptocurrency. For this reason, it is imperative to have substantial knowledge of the coin you would be looking to buy to reduce the risks of losing so much money. Without wasting any more time, it is only right that you look into the promising rise of Big Eyes Coin (BIG). Also, the prospect of Ethereum (ETH)…
Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.One crucial skill when trading and investing in cryptocurrencies is to know when to buy. The logic for buying cryptocurrencies is pretty straightforward, as you’ll look at a potential future price pump. Making money in crypto is easy when you are confident that a price pump is coming. And with the developments we’ve seen with Ethereum (ETH) and Big Eyes Coin(BIG), there could be a potential to make some profit off these coins.Big Eyes Coin (BIG) is a new memecoin on presale with huge potential to profit.…
The President of Paraguay, Mario Abdo has issued an executive veto on a recently approved cryptocurrency bill. Abdo’s veto decree states cryptocurrency mining is an “energy-intensive” and a low-value-added activity. The bill will now be returned to Congress to be approved again or to be rejected entirely. President of Paraguay Considers Cryptocurrency Mining an Energy Intensive Activity The President of Paraguay, Mario Abdo, has exerted an executive veto on the recently approved cryptocurrency bill, after more than a year of discussions in the Paraguayan Congress. The project, which was introduced in July 2021, aims to clarify the rules by which…
When you think of buying or selling cryptocurrency, maybe you think of high-tech trading floors. Maybe you think of state-of-the-art apps. What you probably don’t think of is an ATM in a gas-station convenience store or payday-loan shop. Increasingly, however, that’s how many working-class people are encountering crypto. And consumer advocates say this may not be a good thing. “These ATMs are being put in places where retail consumers who don’t have a lot of information about investing, but are excited about cryptocurrency and want to get involved, are most likely to find them,” says Mark Hays, senior policy analyst…
Bitcoin (BTC), the world’s oldest and most-valued cryptocurrency, briefly dipped below the $20,000 mark late on Thursday, but managed to float above early Friday morning. Ethereum (ETH), which saw a bull run earlier upon the announcement of its Merge date, is now slowing down, as its price appears to be dwelling around the $1,600 mark for now. Most other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP), saw minor gains across the board. Among lesser-known altcoins, the TerraClassicUSD (USTC) token gained nearly 15 percent over the last 24 hours, emerging as the biggest gainer of…
There will be a good buying opportunity for Dogecoin DOGE/USD if rival meme coin Shiba Inu SHIB/USD begins to rally, according to an analysis by a popular cryptocurrency trader.What Happened: Pseudonymous cryptocurrency trader and analyst Altcoin Sherpa shared an analysis of altcoins charts with his 182,000 followers in a video earlier this week.See Also: IS DOGECOIN A GOOD BUY?“I think it’s interesting that Dogecoin did have that move, but it’s also interesting to note that Dogecoin didn’t even lead the meme coin market, SHIB did. So Shiba will be the one that’s the first mover in these situations,” said the trader.In these situations, Altcoin Sherpa believes that buying the laggard…