Crypto news

The SEC-regulated digital asset management company Wave Financial unveiled – the “Wave ADA Yield Fund” with an initial amount of $100 million. The exec said that the new fund will support the new decentralized exchanges, lending protocols, and stablecoin issuers building on top of Cardano. Wave ADA Yield Fund According to the official blog post, the main aim of the ADA Yield Fund is to provide liquidity and other resources to Cardano’s increasingly growing decentralized...

Mark Gordon – the governor of Wyoming, which has earned a reputation for being a very crypto friendly state – has used his powers to veto new bills centering around the trading and usage of crypto. Mark Gordon Says “No” to Crypto Legislation Two of the bills that Gordon has opposed stemmed from the Select Committee on Blockchain, Financial Technology, and Digital Innovation Technology. The organization has been at the center of several crypto-related issues over the past...

Sky Mavis – the company behind the popular blockchain game ‘Axie Infinity’ – has promised to reimburse victims after $625 million in crypto was stolen from its underlying blockchain, Ronin. Another Bridge Hack Yesterday, the Ronin network suffered the largest DeFi hack in the history of crypto, with over $624 million in Ether and USDC being drained from a critical blockchain bridge. A blockchain bridge allows holders of assets on one blockchain to swap out their tokens for...

IntoTheBlock – a blockchain intelligence firm – has reported a surge in interest for Cardano among institutional buyers. It cites a parabolic 50x increase in the cryptocurrency’s on-chain transactions worth over $100,000 in 2022 alone. As tweeted by the firm yesterday, over 69 billion ADA were moved as part of such large transactions just yesterday. They represented over 99% of the total on-chain volume for Cardano. That’s compared to just 1.35 billion ADA in trading volume...

Seven members alleged to be members of the Hong Kong triad have been arrested in connection with the kidnapping of a cryptocurrency trader. The trader was held last year for ransom that amounted to roughly $3.8 million USD. Seven Hong Kong Men Are Now Facing Life Imprisonment The men have been arrested in mainland China and will be handed over to authorities in their native Hong Kong at the Shenzhen Bay border control point this week. Some of the suspects that were...

Key Support levels: $1, $0.78  Key Resistance levels: $1.2, $1.6 ADA’s bullish momentum took it all the way to $1.2, which was the main target for this rally. At the time of this writing, it seems unlikely for ADA to break above this level, and a short pullback might be in the cards. The major support is found at $1, but ADA may not fall that low if buyers remain interested. Chart by TradingViewTechnical Indicators Trading Volume: The volume is decreasing, and this supports...

Ronin Network, a critical bridge chain that powers Axie Infinity, was attacked, and this resulted in in a loss of 173,600 Ethereum and 25.5M USDC, equivalent to over $600M. Since the breach occurred on March 23rd, the stolen funds have flowed into FTX, Huobi, and CryptoCom, which have all vowed to take actions to trace the funds. Binance said it had temporarily suspended withdrawals and deposits on the Ronin Network. Sky Mavis, the company behind Axie Infinity, said it would...

Solana price started a fresh increase above the $100.00 level against the US Dollar. The price is now trading above $100.00 and the 55 simple moving average (4-hours). There is a key rising channel forming with support near $108 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $115 to continue higher in the near term. Solano price is gaining pace above $105 against the US Dollar, similar to bitcoin. SOL could extend gains if it...

Bitcoin price started a fresh increase from the $42,000 zone against the US Dollar. The price is now trading above $45,000 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $46,400 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair must clear $48,000 and then $48,200 to start another increase in the near term. Bitcoin price is eyeing an upside break above the $48,000 resistance against the US...

A group of US lawmakers introduced this Monday the “E-CASH” Act, a bill directed to the US Treasury Department to encourage the entity to develop a digital version of the dollar. E-Cash Is not CBDC, but a Complement to it Democratic Representative Stephen Lynch is the principal sponsor of the ECASH Act, a legislative proposal passed to the House of Representatives. As per the bill, the US Treasury Department was selected as the “most appropriate” government entity to develop...