MakerDAO hits this crucial milestone; will MKR mirror the sentiment?

Stablecoin issuer MakerDAO [MKR] achieved a significant milestone recently which was sure to bring cheers to members of the decentralized autonomous organization (DAO).  According to data from makerburn, Makers annualized fee revenue hit $94.87 million at the time of publication. This was the highest since mid-February 2022.  As indicated in the graph below, the growth has been more pronounced over the last two months with the fee income more than doubling in the same time period. Moreover, the annual profit estimate went past $60 million.  Basahin ang Prediction ng Presyo ng Maker [MKR] 2023-2024  This could be the ‘why’  Ayon sa isang analyst from DeFiLlama, the primary reason behind the surge in Maker‘s top line and the bottom line was the interest income earned from the U.S. Treasury bonds. These bonds were purchased by using the protocol’s Peg Stability Module (PSM) USDC. The PSM enables DAI–USD Coin [USDC] swaps at a 1:1 fixed ratio and backs minted DAI with deposited USDC.  It should be recalled that the proposal to increase holdings of U.S. treasury bonds was passed by the DAO members in March. This aim was to diversify Maker‘s collateral portfolio. The ecosystem’s crypto-collateralized stablecoin DAI depegged from $1 after its primary collateral USD Coin lost

2023-06-15Industriya

Bank of America Stock Price Struggles to Jump Beyond $32 Threshold

Balita ng Ethereum ng Bitcoin  Bank Of America is one of the largest financial institutions in the USA. It has a very rich history dating back to 1904, while continuing evolving with their customer needs. They have also been renowned for their customer satisfaction with personal banking and various other services. They also have a very vast network of ATMs and branches across the country to provide the best for their customers.  Bank Of America recently released their quarterly results and it was better than expected. The revenue of the BofA is near $26.39 billion while the expected revenue was $25.13 Billion. Bank Of America has said that their net income has increased by 15% from past year while the revenue surged by 13%. The sales and trading revenue of the company has also observed a rise of 7%. Recently, an analyst named Dick Bove has said that Bank Of America is spending big on Buy Backs but their stock has been in a continuous decline.  Bank Of America has a market cap of $232 Billion and has a positive EPS. It is currently more than 30% low from its 52 week high. BOA stock is currently struggling to gain despite profitable results.  Will

2023-06-15Industriya

LayerZero Launches on Scroll_ZKP, Pioneering Privacy Solutions

Balita ng Ethereum ng Bitcoin  LayerZero achieves a significant industry milestone by launching on Scroll_ZKP testnet.  The integration of LayerZero with Scroll_ZKP sparks enthusiasm, transforming blockchain transactions.  The successful launch of Scroll_ZKP testnet marks a pivotal step towards real-world implementation for LayerZero.  LayerZero, the cutting-edge blockchain project, has achieved a monumental milestone in the industry by successfully launching on the Scroll_ZKP testnet. This groundbreaking development signifies a significant leap forward for privacy and security in the blockchain world.  Integrating LayerZero with Scroll_ZKP, a state-of-the-art zero-knowledge proof protocol, has ignited a wave of excitement among blockchain enthusiasts and experts alike. By leveraging the advanced privacy features of Scroll_ZKP and the innovative technology of LayerZero, this collaboration has the potential to transform the landscape of blockchain transactions completely.  LayerZero‘s primary objective is to tackle the critical scalability, privacy, and usability challenges that have hindered widespread blockchain adoption. By harnessing the power of Scroll_ZKP’s zero-knowledge-proof capabilities, LayerZero offers a unique and decentralized approach to upholding privacy.  This groundbreaking feature allows users to validate transaction authenticity and accuracy without compromising sensitive information, ensuring privacy even in a transparent environment. As a result, LayerZeros integration with Scroll_ZKP lays the groundwork for secure and private blockchain transactions on a large scale.  The launch of

2023-06-15Industriya

Bite of higher rates gaining traction every day: KBW CEO Michaud

A major financial services CEO warns the economy hasnt fully absorbed higher interest rates yet.  Thomas Michaud, who runs Stifel company KBW, notes theres a delayed reaction in the marketplace from the last hike — calling a 25 basis point move at 5% a very different situation than off a half percent.  kaugnay na balita sa pamumuhunan  “This is getting to be the real deal at the moment because of the level of rates,” he told CNBCs “Fast Money” on Wednesday. “The bite of these higher rates is gaining traction almost every day.”  Michaud delivered the call hours after the Federal Reserve decided to leave interest rates unchanged. It comes after ten rate hikes in a row.  The Fed signaled two more hikes are ahead this year. Michaud expects one to happen in July. However, he questions whether policymakers will raise rates a second time.  “Trying to deliver a new message with these dots is not what I‘m willing to hang my hat on from what I see happening in the economy,” he said. “The economy is slowing. So, I think we’re near the end of this rate increase cycle.”  He lists interest rate sensitive areas of the economy already in a recession: Office space in urban

2023-06-15Industriya

Crypto Analyst Details Potential Reversal Levels for Ethereum, Binance Coin and Litecoin Amid Altcoin Correction

Balita ng Ethereum ng Bitcoin  A closely followed analyst is outlining key price levels where he believes crypto bulls would step in and ignite trend reversals for Ethereum (ETH), Binance Coin (BNB) and Litecoin (LTC).  In a new video update, analyst Michaël van de Poppe tells his 163,000 YouTube subscribers that Ethereum is at risk of further downside unless it can reclaim support at $1,785.  At time of writing, ETH is trading for $1,751. A move toward Van de Poppes reversal area suggests an over 8% decline for leading altcoin.  Looking at Binance Coin, the utility token of the world‘s largest crypto exchange, Van de Poppe says that BNB’s failure to stay above support at around $270 suggests that the altcoin is likely en route toward $200, where it could potentially reverse.  Pinagmulan: Michaël van de Poppe/YouTube  Sa oras ng pagsulat, ang BNB ay nagkakahalaga ng $237.  As for the peer-to-peer payments network Litecoin, Van de Poppe says that LTC may be close to ending its correction.  Sa oras ng pagsulat, ang LTC ay nakikipagkalakalan sa halagang $78.78.  Pagtanggi: Ang mga opinyon na ipinahayag sa The Daily Hodl ay hindi payo sa pamumuhunan. Dapat gawin ng mga namumuhunan ang kanilang nararapat na pagsusumikap bago gumawa ng anumang mga pamumuhunan

2023-06-15Ethereum

Veteran Trader Peter Brandt Spots Interesting Bitcoin (BTC) Price Behavior

Beteranong mangangalakal Peter Brandt has spotted an interesting occurrence on the Bitcoin daily chart. He notes that four daily candles have closed in the 3/10ths of a percent range.  beteranong mangangalakal peter brandt 在比特币日线图上发现了一件有趣的事情。他指出,四根日线蜡烛的收盘价在 3/10% 的范围内。  Brandt says this is the definition of price equilibrium and calls this “hinge” behavior.  勃兰特说这是价格均衡的定义,并将这种行为称为“铰链”行为。  Apat na closed#s sa loob ng 3/10th ng 1% range. Ito ang kahulugan ng ekwilibriyo ng presyo. “Hinge” na pag-uugali. $ btc pic.twitter.com/PaMDhodPvb  apat na closed#s sa loob ng 3/10th ng 1% 范围。 ito ang kahulugan ng ekwilibriyo ng presyo。 “铰链”na pag-uugali。 $ btc pic.twitter.com/pamdhodpvb  - Peter Brandt (@PeterLBrandt) Hunyo 14, 2023  - peter brandt (@peterlbrandt) hunyo 14, 2023  The veteran traders comments might suggest a balance between bulls and bears, as he points to a price equilibrium. The current price range represents a “hinge,” which marks crucial price levels that further advancements or declines depend on.  资深交易员的评论可能暗示多头和空头之间的平衡,因为他指出价格均衡。当前的价格范围代表一个“铰链”,它标志着进一步上涨或下跌所依赖的关键价格水平。  Meanwhile, as technical factors play out, IntoTheBlock has reported that negative sentiment on Twitter around Bitcoin is reaching new highs. It states the significance of this: historically, big peaks have taken place shortly before or after price bottoms.  与此同时,随着技术因素的发挥,intotheblock 报道称,twitter 上围绕比特币的负面情绪正在创下新高。它说明了这一点的重要性:从历史上看,大峰出现在价格触底之前或之后不久。  Also, as indicated by on-chain analytics firm Santiment, Bitcoins exchange supply has fallen to its lowest level since February 2018. It was

2023-06-15Bitcoin

Pagsusuri ng presyo 6/14: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC, LTC, DOT

Balita ng Ethereum ng Bitcoin  The entire crypto market awaits the result of todays Federal Reserve presser, and traders are hopeful that positive news will trigger a price breakout to the upside.  The United States equities markets rose after the Consumer Price Index print on June 13 came in below expectations, but Bitcoin and the altcoins failed to recover. This suggests that cryptocurrency traders are focused on crypto-specific issues and are not buying on favorable macroeconomic news.  However, there is a ray of hope for the bulls because Bitcoin (BTC) is still holding above the $25,000 support. MicroStrategy co-founder Michael Saylor said in a Bloomberg interview on June 13 that the regulatory crackdown by the Securities and Exchange Commission may be bullish for Bitcoin. Saylor expects Bitcoins dominance to hit 80% in the future as “mega institutional money” flows into crypto after the “confusion and anxiety” dies down.  Although Saylors views may sound comforting to the Bitcoin bulls, traders should keep in mind that MicroStrategy has a large position in Bitcoin; hence, his views may be biased.  Traders hate uncertainty and generally stay on the sidelines until clarity emerges. The same may happen with the cryptocurrency markets in the near term. A trending move is

2023-06-15Ethereum

The Graph ditches Ethereum, migrates to Arbitrum in anticipated move

Ethereum  The Graph ditches Ethereum, migrates to Arbitrum in anticipated move  21 segundo ang nakalipas  Balita ng Ethereum ng Bitcoin  The Graph, a blockchain indexing protocol founded in 2018, is fully migrating to the Arbitrum network from Ethereum on Tuesday.  The Graph‘s move to the popular layer-2 was initiated by network participants in an attempt to lower gas fees, accelerate transactions, and increase the protocol’s accessibility, according to a press release from The Graph Foundation.  Edge & Node CEO Tegan Kline said users weighed the options among layer-2 networks and Arbitrum ultimately came out on top.  “The Graph users have continually searched for solutions to improve gas efficiencies and enhance other aspects of the network,” Kline said in a statement. “After careful consideration of all options on the market, the ecosystem selected Arbitrum as the Layer 2 scaling solution that will bring speed and affordability to protocol developers and network participants.”  This has been long in the making, with plans to move being known as far back as April 2022 via a governance proposal that suggested creating a set of contracts that would bridge GRT transactions to Arbitrum. Discussions about moving to a layer-2 network because of prohibitively expensive gas prices date back to November 2021 on The

2023-06-15Ethereum

Ethereum Price Crash: Analyst Predict ETH Price Is On the Verge To Drop Below $1000 Level

The post Ethereum Price Crash: Analyst Predict ETH Price Is On the Verge To Drop Below $1000 Level appeared first on Coinpedia Fintech News  After closing the past two months with a bearish outlook, the Ethereum (ETH) market seems to be reversing toward last years lows. The top smart contract network and the second most valuable blockchain by market capitalization face more regulatory scrutiny in the United States after the SEC argued it could be a security. Regulating Ethereum as a security could complicate the industry since other global markets use a different approach that entails a commodity.  Pagsusuri ng Ethereum na Presyo  According to a pseudonymous and popular crypto analyst called CryptoCapo, the Ethereum market is on the cusp of major capitulation below the FTX levels. Precisely, the analyst pointed the targets for Ethereum price to between $550 and $650. Having experienced a significant resistance pressure around $2,041 after the Shanghai upgrade two months ago, the analyst highlighted that Ethereum needs to fall further to regain bullish sentiments.  The Ethereum (ETH) market holds the largest share in the smart contract industry which has attracted more institutional investors in the recent past. However, the regulatory uncertainty in the United States could push institutional liquidity

2023-06-14Ethereum

Gemini Launches ETH & MATIC Staking Services in Switzerland and Turkey Amidst U.S Regulatory Crackdown on Crypto Staking

Crypto exchange Gemini has anunsyado the expansion of its staking services to users in Switzerland and Turkey. The development comes at a time when United States-based exchanges face regulatory hurdles with the Securities and Exchange Commission (SEC) regarding similar services.  The launch was announced through the companys Tweet, which noted that customers could now stake Ethereum (ETH) and Polygon (MATIC) in the two countries. The move aims to provide investors with new opportunities to earn rewards and enhance network functionality.  Geminis move follows a recent trend of U.S-based cryptocurrency exchanges exploring opportunities in regions with more relaxed regulatory environments. The trend was sparked by recent actions taken by the SEC against cryptocurrency exchanges providing staking services in the U.S.  Earlier this year, the SEC charged Kraken for failing to register its staking-as-a-service program. Coinbase, another industry giant, faced similar charges for operating an unregistered trading platform and offering an unregistered crypto asset staking service.  Staking is a process that involves participating in a proof-of-stake (PoS) blockchain network by holding and “staking” cryptocurrency in a digital wallet to support network operations like block validation and transaction processing. In return, stakeholders earn rewards, usually in the form of additional tokens.  As U.S. regulations tighten on crypto-asset staking

2023-06-14Ethereum
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