Crypto news

The 1inch Network launched a new investment tool called 1inch Earn, in hopes of incentivizing liquidity providers. The protocol asserted in a press release shared with CryptoPotato that the new feature will provide more efficient use of capital compared to AMM pools. How Does 1inch Earn Liquidity Pool Work? A set of liquidity pools optimized for stablecoins, 1inch Earn’s operating model is similar to Uniswap V3 range orders. “Earnings come from fees on swap trades in the...

Cryptocurrency exchange FTX is one of the newest digital currency platforms out there, but its size, scope, and popularity just keep growing. It’s been announced that the exchange now bears a valuation exceeding $32 billion at the time of writing thanks to a new funding round that occurred earlier in the week, suggesting investors continue to pour their money into this industry despite the regular price dips we’ve been witnessing. FTX Is Headed to the Top of the Ladder...

The American video game retailer – GameStop Corp. – partnered with Immutable X Pty Limited (a scaling solution for non-fungible tokens) to establish an NFT marketplace. As part of the deal, both parties created a $100 million fund. GameStop With an NFT Marketplace According to GameStop’s announcement, Immutable X will become a layer-2 partner for the former’s NFT marketplace. The project is expected to see the light of day later this year. Immutable X will also provide nearly...

El Salvador – the first country to make Bitcoin legal tender – is now home to a Bitcoin education center. It aims to boost familiarity with the technology and benefits of cryptocurrency among a population still scratching their heads over it. Educating El Salvador The new center has been launched by Paxful – a peer-to-peer Bitcoin marketplace – under the name “La Casa Del Bitcoin”. It will provide “free and accessible learning opportunities” surrounding Bitcoin while helping...

New York offers many shuttered coal plants and cheap energy. This makes it a top spot for miners and anyone looking to set up crypto extraction businesses. However, there are many environmentalists out there that want New York to work against crypto and ban the process of adding it to the blockchain. New York and Crypto Don’t Always Go Together Environmentalists have been arguing for years that mining bitcoin is somehow harmful to the world’s atmosphere. They state that...

While the Federal Reserve continues to threaten interest rate hikes amid rising inflation, the ECB has taken a different approach. Bank President Christine Lagarde stated they will “not rush into a decision,” deeming inflation as merely a short-term problem. Interest Rates Remain Unchanged As reported by CNBC, the ECB’s refinancing rate will remain at 0%. Meanwhile, its marginal lending rate will stay at 0.25%, and its deposit facility rate will be kept at -0.5%. The decision...

The technical indicators are showing weakness in the short term. The onchian activity of retailers as a reaction to volatile market is still rising. This can be translated to the high probability of a side chopping market in the mid-term. In a low trade volume phase, such as the current market condition, capitulation events are expected more than ever. Technical Analysis By: Grizzley Long-Term: On the daily timeframe, the recent uptrend was stopped by touching the low band of...

Anton Siluanov – Russia’s Minister of Finance – believes local financial institutions should have a universal license to facilitate cryptocurrency trading services. His viewpoint stands far from the central bank’s proposal to impose a complete ban on all digital asset endeavors. Another Vote in Favor of Regulation A few weeks ago, Russia’s central bank urged the local government to impose a blanket ban on all digital asset endeavors inside its borders. The institution argued...

Wormhole Bridge is back up with developers claiming that all funds are restored following the $320 million hack. Wormhole, a cross-chain bridge from Solana to other networks, suffered a major breach on Wednesday. Hackers managed to take control of 120,000 wrapped Ether worth $320 million. The breach impacted all users that held Ethereum tokens (wETH) on the Solana blockchain. Shortly after the attack, Wormhole updated its users on the situation. They also said that they...

Key Support levels: $2,550, $2,200 Key Resistance levels: $2,800, $3,000 Despite a worthy attempt by ETH to move higher, the sellers stood firm at the $2,800 resistance, which rejected the price and propelled it into a pullback. The buyers will have to defend the support at $2,500 to avoid further losses as the next key support is found at $2,200. So long the current support holds, this can be an expected pullback after a 30% rally. Chart by TradingViewTechnical Indicators...