|All Time High:|
|Market Cap: |
|The price of #VALUE today is $0.18 USD.|
The lowest VALUE price for this period was $0, the highest was $0.182, and the exact current price of one VALUE crypto coin is $0.18224.
The all-time high VALUE coin price was $8.86.
Use our custom price calculator to see the hypothetical price of VALUE with market cap of SOL or other crypto coins.
|The code for Value Defi crypto currency is #VALUE. |
Value Defi is 2.5 years old.
|The current market capitalization for Value Defi is $919,056.|
Value Defi is ranked #850 out of all coins, by market cap (and other factors).
|There is a medium daily trading volume on #VALUE.|
Today's 24-hour trading volume across all exchanges for Value Defi is $456,956.
|The circulating supply of VALUE is 5,043,198 coins, which is 100% of the total coin supply.|
Note the limited supply of Value Defi coins which adds to rarity of this cryptocurrency and increases perceived market value.
Value DeFi x Ren Protocol
A partnership with the purpose of bringing native BTC liquidity to Binance Smart Chain! Motivation: Value DeFi and Ren Protocol will combine their resources to bring BTC and ZEC directly to Binance Smart Chain (BSC). Ren recently added BSC support to RenVM and released RenBridge 2, designed to easily bridge BTC, ZEC, DOGE, etc to other chains. Using this bridge, users can easily convert any amount of native BTC, etc to renBTC BEP-20 and vice versa. https://bridge.renproject.io With that said, this collaboration will facilitate some of the first BTC and ZEC stablepools on BSC; allowing users to trade $renBTC to $BTCB and $renZEC to $ZEC-B at very slippage. The pools are as follows: $renBTC / $BTCB $renZEC / $ZEC-B A Native RenVM Integration In addition to BTC and ZEC stable pools, Value DeFi x Ren will be exploring native RenVM integration via RenJS, which will allow direct deposits and withdrawals of real BTC and ZEC into the Value DeFI Platform, a first for Binance Smart Chain! The end product of this partnership is to enable a seamless option for DeFi users to deposit/withdraw BTC, ZEC, directly onto BSC to receive high yield. By using Value DeFi’s tech and products, this process will have very low slippage and minimals fees. Therefore maximizing profits and user accessibility in the process. Looking Forward | Implementation The BTC and ZEC pools will go live on the 19th April week and once implemented, both teams w...
First vStake Pool in Partnership with CDO Finance
vBSWAP holders, we are extremely pleased to share with you our first vStake pool in partnership with CDO Finance. This recently introduced product will allow stakers in any of our vStake pools to receive profit-share from our BSC ecosystem. How does it work? Simply stake your tokens to a vStake and let the smart contract do the hard-work for you! About the vStake Pool: Stake vBSWAP tokens, to earn CODEX tokens!Total Tokens: 500 CODEXDistribution duration: 14 daysStart block: https://bscscan.com/block/countdown/6332000 (April 6th 10PM SGT)Finish block: https://bscscan.com/block/countdown/6710000 (April 20th 10PM SGT)Token rewards per block: 0.001322751322751 CODEX vFarm : In order to host the CODEX vStake pool, we will also provide a CODEX-BNB 70/30 vFarm that will have x0.3 vBSWAP rewards for 14 days with possible extension by voting at a later stage. What is CDO Finance? CDO.finance is the first yield farming project on Binance Smart Chain that offers dynamic risk exposure. Using Collateralized Debt Obligations products, CDO Finance’s users can now obtain leveraged yield farm or risk protection with their assets. To learn more about CDO Finance, we advise you to visit their official communication channels About Value DeFi The Value DeFi platform is a suite of products that aim to bring fairness, true value, and innovation to Decentralized Finance. Their flagship products include vSwap, an automated market-maker...
Value DeFi x bEarn Fi (Next Level Strategic Partnership)
Since its launch on November 24 2020, bEarn Fi has always demonstrated to be a great partner for the on-going growth of the Value DeFi ecosystem. The two projects joined forces early one and they accomplished important milestones together; one of which being the creation of one of the most lucrative vFarms (BFI on Ethereum blockchain) with the highest APY to date on the Value DeFi platform. Due to the rising cost of ETH gas fees and the rising demand from our community, the Value DeFi recently expanded to Binance Smart Chain (BSC) and launched their first deflationary token on the network; vBSWAP. We believe this expansion is a great opportunity to move our partnership to the next level bEarn Fi will be collaborating with Value DeFi on multiple levels and both teams will commit to develop and allocate resources & new techniques to strengthen the existing collaboration:bEarn Fi will provide $1,000,000 in liquidity to the BDO-vBSWAP 70/30 pool for users to experience new trading options. This pool will be incentivized with vBSWAP on vFarm for at least 12 months after the TVL requirement is reachedbEarn Fi will work with Value DeFi on building vLott (Lottery), BDO & BFI and vBSWAP will be accepted as payment options to buy tickets. A 0.69% incentive fee from vLott will be distributed to BFI’s stakers (bStake) while a 0.6% incentive fee will be used to buyback vBSWAP and burn.The two teams will join their development ...
vToken Whitepaper Summary
The purpose of this Medium article is to outline key components of the newly released vToken Whitepaper. For a more complete view of the system, the Official vToken Whitepaper can be referenced at: Whitepaper LinkIntroducing vTokens Users will now be able to move vUSD, vBTC and vDOT cross-chain in a decentralized manner, governed by VALUE holders. Notably, Polkadot (DOT) holders will be able to store and trade their tokens on the Ethereum blockchain, with the same applying to Bitcoin holders for both Ethereum and Polkadot. Value DeFi will become a viable option for users to exchange BTC and DOT with other ERC-20 tokens without going through a centralized exchange. Our vToken technology has been intentionally designed to be interchangeable as we plan to launch other vTokens to additional cross-chain partners/projects. After the successful launch of the first wave of vTokens, we will begin building our new decentralized lending platform — Value Lending. Accepting vUSD, vBTC, vDOT, ESD and BAC as a new class of seigniorage tokens. Value Lending articleSeigniorage — The Basics The core mechanics of seigniorage tokens is expansion and contraction. The algorithm used to calculate this rate is highly complex, but the result is quite simple and uses basic laws of economics. When a vToken is worth more than its peg (ie. vUSD > $1), the protocol is in expansion and vUSD will be minted. As increasing the supply causes in...
VIP 10: MultiStables Vault Exploit Post-mortem
Summary Following the MultiStables Vault Exploit Post-mortem https://link.medium.com/syV3D7uV4bb, we will create a compensation fund which will be funded by a combination of the dev fund, insurance fund and a portion of fees that are currently generated by the protocol. Motivation We propose some changes to the fee structure as follows: Increase vault performance fees to 20% and receipt from swap fees to 50% (previously was 14% and 30%) Then, we consider two options on how the fees go to the compensation fund: 1) 30% of all profits (with the new above fees) go to the compensation fund (exactly 6% of performance fee and 15% cut from swap fee). That means governance vault stakers will receive 14% of performance fee and 35% cut from swap fees (which is same performance fee as before and 5% more fee from cut) 2) 50% of all profits go to the compensation fund (that means 10% performance fee and 25% cut from swap fee). Governance vault stakers will receive 10% performance fee and 25% cut from swap fee (a bit lower) To make the accounting part for affected users as seamless as possible, an IOU token named $VBOND will be created at a 1:1 ratio for every dollar lost by affected farmers at the MultiStables vault with some enhancements. 6110772.30995$ was lost in the incident, so 6110772.30995 $VBOND will be created. The two addresses which received 45K DAI and 50K DAI respectively from the exploiter will see their $VBOND claimed amo...
Elastic Decentralized Loans powered by Chainlink
Introducing vUSD and vETH Note: This article represents a snapshot of a work in progress for the upcoming rebase decentralized lending platform. All the descriptions in this article are subject to change at anytime. We invite the community to refine these ideas with us to make a better platform. Digital assets pegged to a stable asset with elastic supplies are a fundamentally new paradigm in the world of decentralized finance. These assets work by pegging a token to a price feed with pre-defined “rebasing” rules. If these assets were securities and not digital commodities, rebasing events, when the supply of the asset has changed, would be equivalent to automatic stock splits or reverse stock splits. In the absence of external market forces, speculation drives the market mechanics of elastic assets with traders designing strategies based primarily on the market capitalization of the underlying asset. No inherent incentive exists for traders to maintain a peg. Let us quickly review a simplified version of the rebasing mechanics of vUSD and vETH. For those unfamiliar with the concept, the process is straightforward. At a high level, if the price of vUSD exceeds $1.10 (based on some oracle price feed), then the supply of vUSD expands and all holders receive the same increase of vUSD. Holders include automated market maker smart contracts and other bonding curves. Since the supply in the reserve pool of an AMM for vUSD has ...
Roadmap update : Future Features
Roadmap update : Future Features New Released Features : Read more here ★ Composite Vaults. Future Features : Read more below ★ Improved Vaults. ★ FaaS Phase 2. ★ Decentralized Secured Loan Marketplace. Collateralize LPs, Borrow vUSD! Find out more here. ★ Core Upgrade for Value Liquid to use an external router instead of Balancer’s internal proxy. Estimated savings of up to 70% cheaper gas price! ★ Value DeFi Goes Cross-chain. ★ Vaults-as-a-Service. New Stables Vault Farming BarnBridge (BOND) The strategy is quite simple, focus on farming BOND and auto-sell the harvest when epoch changes and the rewards become available. The code is based heavily on the Composite vault because the reward mechanism of BarnBridge is similar to Balancer (rewards are claimed weekly at a certain time instead of anytime). We believe we could improve the user-experience of BOND farmers by creating this vault. MultiStaking Vault, with External Strategy Customization After doing a lot of market research, we concluded that many DeFi tokens have their own staking pool for their own tokens with some disadvantages:High cost in gas for small users to claim the staked rewards and sell it for profit (or restake it for more compounded interest)Most staking pools do not have any auto-compounding capability For example, the MultiStaking vault will:Take the DODO token from users as depositStake at the DODO staking poolClaim the rewa...
Roadmap Update: New Released Features
New Released Features ★ Composite Vaults. Read more below. Future Features : Read more here ★ Improved Vaults. ★ FaaS Phase 2. ★ Decentralized Secured Loan Marketplace. Collateralize LPs, Borrow vUSD! Find out more here. ★ Core Upgrade for Value Liquid to use an external router instead of Balancer’s internal proxy. Estimated savings of up to 70% cheaper gas price! ★ Value DeFi Goes Cross-chain. ★ Vaults-as-a-Service. Composite Vaults for UNI LPs, Farming Sushi and Balancer The newly released vaults (named Composite vaults) use an upgraded version of Vault v1 (single share with multi-strategy). The vaults accept multiple inputs: UNI v2 LP, SLP, BPT or other paired assets directly. In addition, there is a converter contract to move between different LP assets. Why is this safer than MultiStables Vault? Composite Vaults are not multi-asset vaults that run multiple strategies with multiple LP assets. As such, there is no need to calculate conversion rates between various LPs, which led to the MultiStables security breach. CompositeVaults:Pros: there is a separate vault for each asset. As such, deposited LP assets will stay in the same form in the vault and will not be susceptible to external price feed attacks.Cons: There is no auto-rebalancing feature to optimize APY as in MultiStables Vault. Users will need to switch between vaults manually (we make the switch easier for users with our UI) All the co...
ValueDeFi Integrating Chainlink Price Feeds to Ensure Maximum Security for Relaunch of…
ValueDeFi Integrating Chainlink Price Feeds to Ensure Maximum Security for Relaunch of MultiStables Vault In light of the recent flash loan exploit on our previous oracle mechanism, we have engaged multiple security experts to find a solution for securing the ValueDeFi protocol. After many focused discussions and weighing the different options, we found Chainlink to be the best oracle solution that provides a sufficiently robust and tamper-resistant price oracle solution capable of mitigating flash loan attacks. The MultiStables Vault relaunch will utilize Chainlink Price Feeds for all supported stablecoins to ensure our oracles maintain round the clock market coverage across all trading environments. This removes our exposure to temporary flash loan-induced price distortions that exist when pulling data straight from Curve.finance’s on-chain liquidity pools or any other on-chain generated price feed such as Uniswap.exchange. Backed by high quality data, secure and transparent oracle infrastructure, and strong economic incentives, Chainlink’s decentralized price feeds are inherently resilient against flash loan attacks thanks in part to the wide market coverage they provide. As such, we have elected to use Chainlink’s existing stablecoin price feeds to calculate the underlying value of our Liquidity Pool tokens, preventing manipulation of user-backed reserves from occurring. To better understand how Chainlink will secur...
MultiStables Vault Exploit Post-Mortem
Summary: The ValueDefi MultiStables vault was recently the subject of a complex attack that resulted in a loss of user deposits. What follows below is a post-mortem analysis and a description of proposed actions to mitigate economic impact on the community. The Incident: On Nov 14th 2020 at 03:36:30 PM UTC, a hacker performed a flash-loan exploit on the MultiStables vault of ValueDeFi protocol, which resulted in a net loss of roughly 6mil$. The new vault uses our new code of vault v2, which had not been audited. Our Solidity lead dev has provided a summary of the attack that illustrates the main points with approximated values. (https://etherscan.io/tx/0x46a03488247425f845e444b9c10b52ba3c14927c687d38287c0faddc7471150a)  Flash loan 80k ETH on Aave, buy 116m DAI and 31m USDT  Deposit 25m DAI to Vault (via Bank — did not check for smart contract entrance): get back 24,956,075 mvUSD  Swap 91m DAI to 90m USDC, and 31m USDT to 17m USDC, leave the 3pool almost no USDC At this moment, the Vault has 8.5m 3Crv, 2.2m BCrv and 300k CCrv: Total 3Crv balance of Vault = 8.5m + convert_rate_bcrv_to_3crv(2.2m) + convert_rate_ccrv_to_3crv(300k) convert_rate_xxx_to_3crv(A) = convert A xxx to B USDC and add B USDC to the 3pool. Since the 3pool has no USDC the 3Crv calculated by 3pool will be ~3x to normal rate. -> Total 3Crv balance of Vault = 14.5m — not 11m as it should  Withdraw 24,956,075 mvUSD from DAI. Shar...
More Value Defi (#VALUE) News
|Value Stolen in Exploits Down By 70% Since Last Year, More Funds Returne...
A good number of high-profile attacks on the crypto ecosystem took place last year, targeting everything and everyone from Phantom wallets to smart contracts themselves.
A common choice of target was cross-chain bridges, which allowed hackers to make off with serious bounties, most notably in the case of Harmony.
Sharp Decrease in Attacks
However, times seem to be changing, according to a new report from cybersecurity researchers at TRMLabs.
According to the paper, the total value stolen via exploits and hacks has decreased by 70% year-over-year since Q1 2022. Although this may seem biased, considering that Q1 2022 was when the $600 million Ronin bridge attack took place, the data holds up even when the rest of 2022 is taken into account. In total, almost $3.7 billion worth of funds were stolen by bad actors last year.
In fact, less value was stolen during Q1 2023 than in any quarter of 2022. In the previous quarter of 2023, the total value stolen only added up to about $400 million across nearly 40 separate attacks – about two-thirds were from the Ronin Bridge hack alone.
Furthermore, the victims of the attacks often manage to get back part of the stolen bounty, which is already, on average, a third of what it was a year ago.
“The average hack size also took a hit in Q1 2023 – to USD 10.5 million from nearly USD 30 million in the same quarter of 2022, even as the number of incidents was similar (around 40). To date, hacking victims have recovered over half ...
|Silver Set to Shine: Citigroup Analysts Forecast $30 Value in Next 6-12 ...
Citigroup analysts foresee a significant increase in silver's value, potentially hitting $30 per unit within the next 6-12 months, according to the multinational bank's latest silver assessment. The experts at Citi predict an ongoing decline of the U.S. dollar and anticipate a decrease in the federal funds rate at some point.Silver's Value Poised to Surge to $30 per Unit in 6-12 Months, Citigroup Analysts Foresee
On Thursday, May 25, 2023, the price of silver per ounce lingers just above the $23 mark after experiencing nearly a 4% decline over the past week. Nevertheless, half-year data reveals that silver has risen 6% against the U.S. dollar. Despite recent setbacks in precious metal valuations, market experts forecast strong performances from silver and gold in 2023 and beyond. A Citigroup report highlights that their analysts project silver to climb to $30 within the coming 6-12 months.
“We think recent price weakness offers a strong dip-buying opportunity, reiterating our call for $30/oz silver over the next 6-12 months as U.S. growth rolls over, even if emerging markets growth stagnates,” stated Citi's market strategists.
The financial specialists at Citi are not alone in their optimism toward precious metals. Last month, a Bank of America (BOFA) commodity strategist suggested gold could soar to $2,500 an ounce this year. A fortnight ago, BOFA analysts further implied that reduced mining supplies could contribute to potential gains for silver. Global investm...
|Anthony Scaramucci Explains Why He Is Sticking With Bitcoin and What Is ...
In a recent interview, the former partner of Sam Bankman-Fried doubled down on his belief that the FTX founder is the crypto spin-off of Bernie Madoff.
Nevertheless, Scaramucci added that he is sticking with crypto and bitcoin and provided his company's intrinsic BTC value at the moment.
The former White House Director of Communications for the Trump administration entered the cryptocurrency space shortly after the COVID-19 pandemic broke out and has become a permanent member since then, taking every opportunity to praise and invest in bitcoin.
Speaking to Bloomberg earlier this week, Scaramucci doubled down on his support for the asset despite the recent calamity in the sector and his personal experience.
He said BTC's current USD value of around $27,000 is actually an understatement as his company believes 'intrinsically bitcoin is worth about $40,000.'
Scaramucci justified the higher price with the increasing adoption of the cryptocurrency, including the growing number of addresses, as well as miners earning more rewards compared to last year.
He also compared BTC's adoption, with over 300 million wallets as of now, to the Internet back in 1998, which is around 4% of the global population. As such, once this percentage doubles to 8, investors will see 'explosive returns' from their bitcoin exposure.
Aside from BTC, Scaramucci was involved with FTX last year as the now-defunct exchange acquired a 30% stake in SkyBridge Capital.
Given everything that happened with SBF just ...
|Terra Classic Advocates Propose Plan to Re-Establish USTC's Peg With US ...
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token's peg with the U.S. dollar. In response to the proposed development, the value of UST, renamed USTC, has escalated by more than 9% in the past 24 hours. Terra Classic Community Plans to Take Action to Restore USTC's Peg With USD
Terra Classic blockchain supporters aim to revive the algorithmic stablecoin's ecosystem by restoring the token USTC’s value parity with the U.S. dollar. A Terra Classic community member using the pseudonym 'Redlinedrifter' submitted the proposal, affirming that Do Kwon's decentralized money creation was a positive initiative but that 'serious issues need to be addressed' for the community to re-establish the token's value peg with the U.S. dollar.
USTCUSDT chart by TradingView
Redlinedrifter presented the “Divergence Protocol” idea, which 'operates by applying an algorithmic/dynamic fee equivalent to the difference between the...
|Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Sinc...
While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time.Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days
On March 31, 2023, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to $131.21 billion. A total of $2.4 billion worth of stablecoins has been withdrawn from the stablecoin economy since then. Data reveals that over the past 30 days, USDC, BUSD, DAI, and TUSD have all seen redemptions. Usd coin's (USDC) circulating supply dropped 10.2% compared to last month, and binance usd (BUSD) fell by 20.6%. Of the top five largest stablecoins, both USDC and BUSD experienced the most redemptions.
Further, DAI's circulating supply slipped 9% lower in 30 days and TUSD's supply decreased by 0.7%. Tether (USDT), however, grew 2.3% since last month, reaching a market capitalization worth $81.39 billion. Tether's market valuation accounts for 61.65% of the entire stablecoin economy's $131.21 billion value. While tether's supply grew by 2.3%, pax dollar (USDP) rose by 33.9% since last month.
USDP now has a market valuation of approximately $1,037,832,268. Both frax dollar and Tron's USDD experienced losses during the past 30 days; frax dolla...
|Value Locked in Defi Descends Below $50B Range 9 Days After 2023 High&nb...
The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi protocol by TVL size, Lido, losing 8.25% over the past week.
18 of the Top Defi Protocols Recorded Weekly Losses
Crypto asset markets have experienced volatility in the past seven days, and on Sunday, April 23, 2023, the total value locked (TVL) in defi dropped below $50 billion, reaching $48.78 billion. Currently, Lido is the largest defi protocol by TVL, with $11.64 billion in TVL, representing 23.85% of the total value locked in defi today. Despite an 8.25% decrease in its TVL this week, 30-day statistics show that Lido's TVL has increased by 9.92%.
Only two defi protocols out of 20 saw TVL gains this week, with the applications Juststables and Venus leading the pack, according to defillama.com stats. Aura recorded the biggest TVL loss at 18.29%, and Aave lost 14.09% in the past seven days. Out of the $48.78 billion locked in defi today, over 58% of that value is on the Ethereum chain, with $28.68 billion spread across 752 ETH-based defi protocols. Following Ethereum is Tron ($5.29 billion), Binance Smart Chain (BSC) ($4.67 billion), Arbitrum ($2.18 billion), and Polygon ($1.05 billion).
Although the total value in defi has decreased this weekend, the top smart contract token economy...
|US Dollar Could Lose Most of Its Value in 5 Years, Investment Manager Wa...
Investment manager Larry Lepard has warned that the U.S. dollar could lose most of its value within five to 10 years. Following the onset of the Russia-Ukraine war, 'the U.S. did something which I perceived to be very stupid, which is it seized $600 billion of Russian currency reserves, and that sent the message to every other country in the world that 'Hey if the U.S. doesn't like what you're doing, they can grab your money,'' the executive described.Investment Manager Expects U.S. Dollar to Lose Most of Its Value in 5-10 Years
Larry Lepard, investment manager and founder of Equity Management Associates (EMA), shared his prediction about the demise of the U.S. dollar in an interview with Kitco News, published Wednesday. He said:
I'm very comfortable saying the dollar will effectively be restructured or have lost most of its value within 10 years, and I think, frankly, it could even be shorter than that. My kind of median guess is about five years.
The executive then explained how he came up with his prediction: 'I base that on looking at history and other currency events in other countries and kind of watching the patterns of how long it takes.'
Lepard detailed that following the onset of the Russia-Ukraine war, “the U.S. did something which I perceived to be very stupid, which is it seized $600 billion of Russian currency reserves, and that sent the message to every other country in the world that 'Hey if the U.S. doesn't like what you're doing, they can grab your mon...
|Value Locked in Defi Holds the Line at $50B, After Temporarily Shedding ...
The total value locked (TVL) in decentralized finance (defi) during the first week of April is about $50 billion, roughly the same as on March 1. The value locked dropped to $42 billion on March 12 but has since rebounded as protocols such as Lido Finance, Aave, and Justlend recorded double-digit monthly gains.After the March 12 Dip, the Value Locked in Decentralized Finance Rebounds to $50B
According to statistics, the value locked in defi on April 2, 2023, is $50.22 billion, up 0.91% in the past 24 hours. The protocol Lido Finance commands a TVL of around $10.94 billion as of Sunday. Lido dominates the $50 billion TVL with 21.77%, and the value locked in the protocol saw a 19.75% rise in March.
Makerdao's TVL is below Lido's at $7.7 billion as it rose 9.66% last month. Aave's TVL increased by 16.94% to the current $5.55 billion. Protocols following Lido, Makerdao, and Aave in TVL size include Curve, Uniswap, Convex Finance, JustLend, PancakeSwap, Coinbase Staked Ethereum, and Instadapp.
While Lido jumped over 19% last month, Coinbase Staked Ethereum rose by 22.29%, and Rocketpool, another Ethereum (ETH) liquid staking protocol, saw its TVL rise by 18.47%. Other notable risers in terms of TVL in defi protocols include Liquity, up 27.12% over the last 30 days, and Bwatch, which rose 25.78%.
Of the $50 billion TVL today, 58.6% of the value locked is housed on Ethereum. 10.69% is held on Tron, 10.15% is stored on the Binance Smart Chain (BSC), and 4.4% is kept on Arbitrum. Eth...
|Steve Hanke Blasts Bitcoin: It Is 'Not a Currency' and Has a 'Fundamenta...
Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a 'fundamental value of zero,' and that it is a 'highly speculative asset.'
Steve Hanke Criticizes Bitcoin's Function and Value
Steve Hanke, professor of applied economics at Johns Hopkins, has criticized bitcoin and its value in one of his latest tweets. The economist, known to be very vocal about the negative effect that crypto can have on world economies, contested bitcoin's utility, stating:
Bitcoin is not a currency. It's just a highly speculative asset with a fundamental value of zero.
Hanke illustrated his opinion with a cartoon drawn by Robert Rich, as part of his work for Hedgeye Risk Management, where he compares other main fiat currencies including the dollar, the yen, and the euro, with bitcoin.
Bitcoin Community Responds
Responses from the bitcoin community to Hanke's opinions came quickly. Digital artist Lucho Poletti, known for his bitcoin-focused work, tweeted a similar cartoon that depicted bitcoin as a better form of money than the fiat currencies that appeared in Robert Rich's cartoon.
Others criticized Hanke's opinion in writing, like Dr. Julian Hosp, CEO of decentralized finance app Cake Defi, who countered Hanke's view, declaring:
Bitcoin has utility. We can argue h...
|White House Blasts Bitcoin for Having 'No Fundamental Value,' Praises CB...
The Council fo Economic Advisors showed outright disregard for the purported benefits of Bitcoin and other cryptocurrencies in the President’s Economic Report released on Tuesday.
The report claimed that cryptocurrencies lack fundamental value, and also do not “act as effective alternatives to money.”
Crypto: Expectations VS Reality
The White House report included two dedicated sections pertaining to digital assets: one titled “The Perceived Appeal of Crypto Assets,” and the other titled “The Reality of Crypto Assets.”
The first section acknowledges some of the most commonly cited use cases of Bitcoin: its potential as an inflation hedge, ability to enable fast digital payments, and power to increase financial inclusion. However, the latter section disputed all of those claims:
“As inflation increased globally in the second half of 2021 and in 2022, the prices of crypto assets collapsed, proving them to be, at best, an ineffective inflation hedge,” stated the report.
Indeed, Bitcoin collapsed to then yearly lows in June 2022 precisely after the BIS announced peak inflation figures of 9.1% that month. However, the Federal Reserve was also hiking its target interest rate throughout the year to quell said inflation, which caused a significant drawdown in bonds, stocks, and crypto alike.
The report also challenged Bitcoin’s use case as an alternative money, criticizing its ability to effectively serve a...
|Value Locked in Defi Rises Above $50 Billion Mark, Ethereum Dominates TV...
The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours.Defi Value Swells Close to 2% Higher to Over $50 Billion
With crypto assets swelling in value and the crypto economy rising 1.2% to $1.24 trillion, the total value locked (TVL) in defi on Wednesday was $50.34 billion. The defi platform Lido Finance dominates the top defi protocols with $10.76 billion, up 10.60% in seven days and up 24.61% over the past month. Makerdao's TVL is the only defi protocol out of the top five that has seen a TVL reduction of 1.29%. Aave, Curve, and Uniswap have seen increases with Curve jumping ahead by 13.62%.
Most of the rise in defi has stemmed from the smart contract platform market capitalization rising 3.6% over the last day to $357 billion. The top five smart contract tokens have increased in value over the last week except for polygon (MATIC), which is down 3.9% over the past seven days. In terms of TVL by blockchain, Ethereum dominates the $50.34 billion by more than 59% with a total of $29.71 billion. Ethereum is followed by Tron ($5.35B), BSC ($5.1B), Arbitrum ($2B), and Polygon ($1.07B).
As far as liquid staking, the top protocol on Ethereum is Lido, on Tron it's Neopin Staking, on BSC it's Ankr, on Arbitrum the top liquid staking app is Tenderize, and the top staking protocol on Poly...
|SVB Financial Group Files for Chapter 11 Bankruptcy Protection to 'Prese...
On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week.3 SVB Entities Unaffected by Bankruptcy Filing; CEO Faces Scrutiny for Share Sale Before Silicon Valley Bank Collapse
On Friday, SVB Financial Group released a press release detailing its voluntary petition for a court-supervised reorganization under Chapter 11 bankruptcy protection. The announcement stated that the purpose of the filing is to preserve the remaining value of the company. The bankruptcy filing does not involve three entities, including the FDIC-operated bridge bank Silicon Valley Bank, N.A., SVB Securities, and SVB Capital's funds.
The financial institution’s three verticals are still operating as they were before SVB was placed into FDIC receivership. SVB Financial Group stated that it holds 'approximately $2.2 billion of liquidity' and has funded debt of 'approximately $3.3 billion.' The financial company also has $3.7 billion of outstanding preferred equity, which will be utilized to evaluate strategic alternatives, as per the firm's explanation.
'The Chapter 11 process will allow SVB Financial Group to preserve value as it evaluates strategic alternatives for its prized businesses and assets, especially SVB Capital a...
|Alameda Research Sues Grayscale Investments Seeking to Unlock Billions i...
FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that 'Grayscale has extracted over $1.3 billion in exorbitant management fees in violation of the trust agreements.'FTX Debtors Accuse Grayscale of Exorbitant Management Fees and Breach of Trust Agreements
In a press release issued March 6, 2023, FTX debtors and Alameda Research, the company's now-defunct quantitative trading firm, announced that Alameda is suing digital currency fund manager Grayscale Investments. Alameda seeks injunctive relief to allow redemptions and reduce fees associated with the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that Grayscale and its management team continue to “breach trust agreements and fiduciary duties.'
Alameda also argues that Grayscale's self-imposed redemption ban prevents the 'realization of approximately $9 billion of value.' The firm's CEO and chief restructuring officer, John J. Ray III, issued a statement regarding the lawsuit against Grayscale, stating: 'We will continue to use every tool we can to maximize recoveries for FTX customers and creditors.' The FTX debtors restructuring officer added:
Our goal is to unlock value that we believe is currently being suppressed by Grayscale's self-dealing and improper redemption ban. FTX customers and creditors will benefit from addit...
|UBS Strategists Predict Minimal Impact of Upcoming Mt Gox Payouts on Bit...
A recent report published by market strategists from the investment bank and financial services company UBS says that the upcoming Mt Gox payouts won't destabilize bitcoin's value. While a new supply will come to the market, UBS strategists insist that 'it would be less concentrated.'UBS Market Strategists Believe Mt Gox Payouts Won't Destabilize Bitcoin's Value
UBS market strategists think that the cause for concern over the upcoming Mt Gox distribution of 142,000 bitcoin (BTC) may be a bit overhyped in regard to the 'long-held fear that Mt. Gox redemptions would hurt bitcoin's price.'
Bitcoin.com News reported on the Mt Gox rehabilitation plan nearing the end of the road at the end of October 2022. Through the current plan, creditors have several options to choose from when it comes to repayments.
Creditors have until March 10 to choose a repayment scheme, and payments are expected to happen around September 2023. The 142,000 bitcoin (BTC) today is worth more than $3.36 billion using current exchange rates.
'The most important ones are, first, whether to take an early lump sum payment or wait for further proceedings and additional asset recoveries and second, receiving funds in fiat or crypto,' explained the UBS strategists James Malcom and Ivan Kachkovski.
The UBS executives added:
New supply could still come to the market, but this at least implies it would be less concentrated.
There's also a stash of 142,000 bitcoin cash (BCH) worth over $19 million and $510 million or ...
|Artificial Intelligence Crypto Assets Continue to Surge, Accounting for ...
Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy's value. Majority of Listed AI Cryptocurrencies See Positive Gains Over Last Month
Artificial intelligence (AI) has been a dominant theme in 2023, resulting in a significant surge in the value of AI-focused tokens this year. Bitcoin.com News reported on the rise of these cryptocurrencies at the end of January, and despite a brief pullback in mid-February, AI crypto assets have continued to see gains throughout the month.
According to data from cryptoslate.com, 74 AI-centric digital currencies are now worth $4.03 billion, accounting for 0.37% of the overall crypto market and 1.19% of the smart contract token market. Moreover, the majority of the 74 listed cryptocurrencies associated with artificial intelligence have experienced positive gains in the last month.
The largest of the AI-focused digital currencies is graph (GRT), with a current market valuation of approximately $1.42 billion. GRT has increased 70.57% against the U.S. dollar in the last 30 days. Singularitynet (AGIX), the second-largest AI-centric crypto asset, has surged 132.67% this month.
Fetch.ai (FET) has risen by 53.21%, and ocean protocol (OCEAN) is up 7.26% in the 30-day period. Iexec rlc (...
|5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billion...
2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of dollars in value from the crypto economy, but also eroded trust. The following is a look at six high-profile cryptocurrency project implosions that took place during 2022's crypto winter.A Look at 5 Crypto Assets That Fell From Glory Amid the Crypto Market Downturn
History shows that there have been many failures in the cryptocurrency market economy over the years, and a great example is how eight out of the top ten coins on May 5, 2013, have basically been forgotten despite the fact that some still hold value. Coins such as freicoin (FRC), terracoin (TRC), devcoin (DVC), and mincoin (MNC) are all distant memories now. During the 2022 crypto winter, several high-profile crypto projects imploded. Below is a summary of these project failures or cryptocurrency assets that have seen their value slashed and communities decimated.
On Jan. 1, 2022, the crypto asset celsius (CEL) was trading for $4.26 per coin, and it was the 93rd largest cryptocurrency in terms of market capitalization at the time. CEL was essentially an exchange token, and the now-bankrupt crypto lender Celsius advertised the ERC20 token as “the backbone of the Celsius Network.” However, on June 13, 2022, the cryptocurrency lender paused all operatio...
|Crypto Market Slides as Total Value Locked in Defi Falls Below $50 Billi...
The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same timeframe, the top smart contract token economy lost 3.7% against the U.S. dollar.Smart Contract Token Economy and Value Locked in Defi Dip
Cryptocurrency prices are down this weekend, affecting the values of smart contract tokens and the total value locked in defi. At the time of writing, the smart contract token economy is valued at $326.11 billion, but has dropped 3.7% during the last day. Over the last week, ethereum (ETH) has lost 5.6% against the greenback, and polygon (MATIC) has dropped 17.6% in value.
Currently, the TVL in defi today is $49.8 billion, with 18.03% of that value residing in the Lido liquid staking protocol. The value locked in Lido today is around $8.75 billion, up 8.43% over the last month. Makerdao, Curve, Aave, Convex Finance, Uniswap, Justlend, Pancakeswap, Instadapp, and Compound Finance follow Lido in order. Besides Lido's 8.43% rise, Uniswap had the second-largest 30-day increase with 6.43%.
TOTALDEFI chart by TradingView
|Total Value Locked in Defi Surpasses $50 Billion Mark for First Time Sin...
Crypto prices have surged in value over the past few days, and the total value locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the first time since the collapse of FTX. As of Feb. 16, 2023, the TVL in defi is $51.1 billion, with the liquid staking protocol Lido accounting for 17.18% of the total.Ethereum Dominates Defi With Over 60% of TVL, While Tron and Binance Smart Chain Battle for Second Place
In the past 24 hours, the entire cryptocurrency market has risen more than 5% against the U.S. dollar, and the market capitalization of the top smart contract platform tokens has increased by 7%. During the same period, ethereum increased by 6.5%, BNB rose by 4.2%, cardano increased by 2.4%, and polygon rose by 8.3% against the U.S. dollar. Solana saw a 3.9% increase, polkadot rose by 3.6%, and avalanche gained 5.7%.
The aforementioned price increases have propelled the total value locked (TVL) in decentralized finance (defi) above the $50 billion mark for the first time since Nov. 8, 2022. As of Feb. 16, 2023, statistics show that the TVL is approximately $51.1 billion, with $8.78 billion held by Lido. Lido is the largest protocol in terms of TVL, capturing 17.18% of the total. The liquid staking protocol is followed by Makerdao, Curve, Aave, and Convex Finance, respectively.
This week, more than 60% of the total value locked in defi, amounting to $30.98 billion, is tied to Ethereum. Tron is the second-largest blockchain in terms of TVL size, c...
|Billionaire Ray Dalio Says Bitcoin Isn't an Effective Money, Store of Va...
Billionaire Ray Dalio, the founder of the world's largest hedge fund, Bridgewater Associates, says it's 'amazing' what bitcoin has accomplished but believes the cryptocurrency is not going to be an effective money, a store of value, or a medium of exchange. Nonetheless, he stressed that 'we are in a world in which money as we know it is in jeopardy.'Billionaire Ray Dalio on Bitcoin
Billionaire investor and hedge fund manager Ray Dalio, who founded the world's largest hedge fund, Bridgewater Associates, and previously served as its co-chief investment officer, has offered his view on bitcoin in an interview with CNBC Thursday. Referring to the world's largest cryptocurrency, he said:
I think it's been quite amazing that for 12 years it's accomplished ... But I think it has no relation to anything … It's a tiny thing that gets disproportionate attention.
Noting that bitcoin's total market value is less than a third of Microsoft's stock, whose market cap stood at $1.92 trillion on Friday, Dalio asserted: 'Biotech and many other industries are more interesting than bitcoin.' The billionaire opined:
It's not going to be an effective money. It's not an effective storehold of wealth. It's not an effective medium of exchange.
'But we are in a world in which money as we know it is in jeopardy … We are printing too much, and it's not just the United States, all the reserve currencies,' he continued, mentioning problems with the euro and the Japanese yen in particular. 'An...
|Smart Contract Token Market Soars to $332 Billion; Defi Value Reaches Hi...
The smart contract token economy rose 5.6% against the U.S. dollar on Thursday, reaching $332 billion. Additionally, the value locked in decentralized finance (defi) increased to nearly $50 billion, a record high not seen since the collapse of FTX.Smart Contract Economy and Defi TVL Bounces Back
On Thursday, Feb. 2, 2023, the top smart contract platform coin economy increased to $332.86 billion, a rise of 5.6% in the last 24 hours. Currently, roughly $20.44 billion in global trading volume is paired with smart contract tokens. Of the top ten smart contract crypto assets by market capitalization, polygon (MATIC) led in 24-hour gains, rising 12% in the last day. Aptos (APT) followed with the second-largest increase, jumping 10.4% higher on Thursday.
Polkadot (DOT), chainlink (LINK), and solana (SOL) all experienced notable gains in the last day, jumping 6% to 7.1% higher. Smart contract coins outside the top ten that saw significant increases include near protocol (NEAR), which rose 11.4%, and fantom (FTM), which jumped 17.5% on Thursday. Parsiq (PRQ) was the largest gainer with a 27.7% increase, while counterparty (XCP) was the biggest smart contract token loser, shedding 9.9% on Thursday.
The value locked in decentralized finance (defi) has also risen and is near the $50 billion range, at approximately $49.48 billion. Lido Protocol leads the defi pack, as its total value locked (TVL) today represents 17.32% of the $49 billion on Thursday.
Lido's TVL increased by 5.79%, and t...
|Tesla's SEC Filing Shows Bitcoin Fair Market Value of $191 Million
Tesla's latest filing with the U.S. Securities and Exchange Commission (SEC) shows that the fair market value of the company's bitcoin holdings was $191 million at the end of 2022. In addition, billionaire Elon Musk's electric car company recorded $204 million of impairment losses resulting from changes in the prices of bitcoin.Tesla's Digital Assets and Its Bitcoin's Fair Value
Elon Musk's electric car company, Tesla (Nasdaq: TSLA), filed its annual report for the year ended Dec. 31, 2022, with the U.S. Securities and Exchange Commission (SEC) on Monday.
The filing shows that the fair market value of Tesla's BTC holdings was $191 million at the end of 2022 while their carrying value was $184 million, as Bitcoin.com News previously reported. 'As of December 31, 2022, and 2021, the carrying value of our digital assets held was $184 million and $1.26 billion, which reflects cumulative impairments of $204 million and $101 million, each period, respectively,' the company detailed, elaborating:
The fair market value of such digital assets held as of December 31, 2022 and 2021 was $191 million and $1.99 billion, respectively.
The filing also notes that during the two years ended Dec. 31, 2022, Tesla 'purchased and/or received an immaterial amount and $1.50 billion, respectively, of digital assets.'
The electric car company invested $1.5 billion in bitcoin in Q1 2021 but sold 75% of its holdings in Q2 2022. The company also accepts the meme cryptocurrency dogecoin (DOGE) for some me...
|Bitcoin Exchange Outflows Reach Highest Value Since FTX Crash, Bullish?
The relevant indicator here is the 'all exchanges netflow,' which measures the net amount of Bitcoin exiting or entering into the wallets of all centralized exchanges. The metric's value is calculated by taking the difference between the inflows (the coins going in) and the outflows (the coins moving out).
When the indicator has a positive value, the inflows overwhelm the outflows, and a net number of coins are deposited to exchanges. As one of the main reasons investors deposit to exchanges is for selling purposes, this trend can have bearish implications for the price of the crypto.
On the other hand, negative values imply that a net amount of supply is currently being pulled off these platforms. Generally, holders withdraw their coins from exchanges to hold onto them for extended periods in personal wallets. Thus, such metric values can signal that investors are accumulating at the moment, which may have a bullish impact on the price.
Now, here is a chart that shows the trend in the Bitcoin all exchange's netflow over the last few months:
As shown in the above graph, the Bitcoin exchange netflow recorded a deep negative spike during the past day. This outflow amounted to around 7,000 BTC, leaving the wallets of these platforms the largest value the metric has seen since the FTX crash back in November of last year.
From the chart, it's apparent that the aftermath of FTX's collapse saw some substantial outflow values. The reason behind that is that a known exchange like FT...
|Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Net...
Members of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins.Number of Bitcoin Bridged to Avalanche Climbs Past Lightning Network Capacity
This past week digital currency advocates have been discussing the rising number of bitcoin (BTC) bridged over to the Avalanche (AVAX) network. Seven days ago, the crypto asset known as BTCb saw its supply surpass the number of bitcoins locked on the Lightning Network (LN). The reason for the celebration is that it took much less time to beat the LN's total value locked (TVL) or capacity. At the time of writing, the LN has around 5,248 bitcoin TVL, which is worth around $120 million using today's BTC prices.
A week ago on Jan. 16, an Avalanche (AVAX) supporter known as 'Ojrdev' tweeted about the number of bitcoins transferred to the AVAX chain. 'Avalanche has transferred more [bitcoin] (BTCb) than is locked in [the] Lightning Network,' Ojrdev tweeted. 'The Avalanche consensus mechanism is also faster than Lightning.' Many other AVAX supporters agreed and celebrated the milestone. While the LN currently holds 5,248 BTC, the number of BTCb, according to snowtrace.io, is around 5,493 BTCb, worth $125.5 million using current BTC exchange rates.
During the same peri...
|Ethereum Gas Fees Spike as ETH Value Rises: Average Onchain Fees Jump by...
While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network's average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at $4.52 per transfer.Rise in Ethereum Value Leads to Increased Onchain Transaction Costs
Sending ethereum (ETH) is becoming more costly as the crypto asset's value has risen greatly over the last 14 days. At the time of writing, ether is trading at $1,542 per unit, after reaching a high of $1,606 per unit during the same 24-hour period on Jan. 18, 2023.
As ethereum's value in U.S. dollars has increased, the cost to move ether and the myriad of ERC20 tokens has also risen. Data from bitinfocharts.com indicates that on Jan. 1, 2023, the average ether gas fee was $2.93 per transfer. 18 days later, the average fee to send ethereum is 54% higher at $4.52 per transaction.
Bitinfocharts.com's median-sized ethereum fee chart highlights a similar pattern. 18 days ago on the first day of 2023, bitinfocharts.com's median ether fee chart showed the cost was around $1.06 per transfer to send ethereum.
On Wednesday, the same chart showed the cost has risen to 0.0013 ETH per transfer or roughly $1.96 using current ether exchange rates. That means the median-sized ethereum fee has jumped 84% since Jan. 1. Furthermore, while the gas measurement is usua...
|Defi Lending Sector Experiences Major Shake-Up: 71% of Total Value Locke...
Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like Terra's Anchor Protocol bit the dust, and 71.95% of the total value locked in defi lending protocols evaporated.From $37 Billion to $10 Billion: The Top Five Defi Lenders Then and Now
Last year around this time, decentralized finance lending protocols held $37.41 billion in total value locked (TVL), and the defi protocol Aave dominated with $12.87 billion. An archive.org snapshot from Jan. 10, 2022, shows that Aave's $12.87 billion TVL was larger than the TVL the top five defi lending protocols held on Jan. 17, 2023.
Data shows that the top five defi protocols in mid-Jan. 2023 include Aave ($4.58 billion), Justlend ($3.02 billion), Compound ($1.85 billion), Venus ($813.63 million), and Morpho ($221.59 million). Currently, all five of the aforementioned defi protocols have a combined TVL of around $10.49 billion.
On Jan. 10, 2022, Terra's Anchor Protocol held approximately $8.5 billion in value, but now the defi protocol is in ashes. Anchor was one of the main components in the Terra ecosystem as terrausd (UST) holders deposited UST for a 20% annual percentage rate return that compounded daily.
But in May 2022, UST ...
|MATIC Whale Pushes Coin Value With Massive Moves
The few months toward the end of 2022 brought devastating events in the crypto industry. With the collapse of the FTX crypto exchange, chaos erupted in the crypto markets. Prices of almost all the crypto assets took a hit. Also, the negative contagion effect sprung up within the crypto space as the number of investors who lost funds on the platform kept increasing.
However, the beginning of this new year shows signs of a positive dawn for most crypto assets. The crypto market has started seeing some green performance. For instance, MATIC has shown impressive performance by soaring on the chart.
Increased Trading Volume For MATIC
Recently, crypto whales are showing more interest in MATIC due to upward price movements in the coin this year. The 24-hour trading volume for MATIC sits at over $376 million, showing a surge of 174.80% and implying increased interest in the token.
An anonymous whale was reported to have transferred MATIC tokens worth approximately $8 million. The transfer was done on the Binance crypto exchange as a single transaction.
Lookonchain, an on-chain data provider, reported the whale’s transfer on its Twitter page. According to the data provider, the whale has been gathering Polygon tokens from different exchanges and through staking. The whale’s address has gotten up to 153 million MATIC tokens at an average price of $1.16
Also, on January 5, Lookonchain reported a huge MATIC transaction from another crypto whale SmartMoney. The whale is known...
|AVAX Value Drops By 2% Following Grayscale Removal of Avalanche From Lar...
In its latest quarterly update, Grayscale announced the rebalancing of funds for the fourth quarter of 2022. As part of the rebalancing, Grayscale sold off a certain amount of its Digital Large Cap Fund and dumped its held tokens, including Avalanche Network token AVAX.
AVAX has slipped by 2% following the sell-off in the past 24 hours. According to Grayscale, the sold-off AVAX tokens were replaced with the purchase of the existing fund components in proportion to their respective weightings.
Grayscale Purchased And Existing Tokens
The AVAX sell-off was only part of the CoinDesk Large Cap Select Index and Grayscale Digital Large Cap Fund. In its CoinDesk Smart Contract Platform Select Ex ETH Index and Grayscale Smart Contract Platform Ex-Ethereum Fund portfolio rebalancing, the company sold off Algorand native token ALGO.
In its CoinDesk DeFi Select Index methodology, Grayscale adjusted its DeFi Fund’s portfolio and purchased Synthetix (SNX) after selling some existing assets.
As of now, the Grayscale portfolio fund now includes 65% Bitcoin (BTC), 30% Ethereum (ETH), 1.86% Cardano (ADA), 1.39% Polygon (MATIC), and 1% Solana (SOL). Meanwhile, its DeFi Fund’s Fund Components include 65.05% Uniswap (UNI), 12.39% Aave (AAVE), 8.15% MakerDAO (MKR), 6.02% Synthetix (SNX), 4.58% Curve DAO Token (CRV), and 3.81% Compound (COMP).
Since July, Grayscale has been carefully monitoring the CoinDesk Large Cap Select Index. The index launched in Apr...
|Bahamas Regulator Disputes FTX's Claim About Value of Seized Cryptocurre...
The Securities Commission of the Bahamas has disputed FTX's claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief's 'continued lack of diligence when making public statements concerning the Commission is disappointing,' the Bahamian regulator stressed.Bahamas Regulator and FTX Disagree on the Value of Seized Crypto Assets
The Securities Commission of the Bahamas issued a statement Monday to 'correct material misstatements' made by the new FTX CEO, John J. Ray III, regarding the value of the cryptocurrencies it seized from FTX. Ray represents U.S. FTX debtors in the crypto exchange's bankruptcy filing (Chapter 11 Debtors).
The Bahamian regulator explained that on Dec. 30, 2022, FTX and Ray 'publicly challenged the Commission's calculations' of the value of the crypto assets transferred to its digital wallets on Nov. 12. According to the Commission, over $3.5 billion in cryptocurrencies were seized from FTX. However, Ray argued that the value of the digital assets transferred on that date was actually about $296 million.
In its Monday statement, the Commission said that the U.S. FTX debtors' calculations 'were based on incomplete information,' asserting:
The Chapter 11 Debtors chose not to utilize their ability to request information from the joint provisional liquidators pursuant to a court order of the Supreme Court of the Bahamas… The U.S. debtors' continued lack of diligence when making public...
|While His Digital Trading Cards Tumble in Value, Trump Says His 'Cute' N...
After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungible tokens (NFTs) have dropped considerably in value over the last 12 days. On Dec. 29, 2022, Trump’s NFT collection has a floor value of 0.15 ether, which is around 81% lower than the floor value highs recorded last week.Trump Digital Collectibles Slide Significantly in Value Since the Launch, After Looking at the Art Trump Was Pleased With His 30-Inch Waistline
The 45th president of the United States, Donald Trump, recently released 45,000 non-fungible tokens (NFTs) and during the first day of the sale, each NFT was sold for $99 per unit. Trump’s NFTs started trading on secondary NFT markets on Dec. 15, 2022 and had a floor value of around 0.1 ether or around $125 for the most inexpensive Trump NFTs. Two days later, Bitcoin.com News reported on how Trump’s NFTs skyrocketed in value after being mocked by a large number of left-leaning political commentators.
The same day, on Dec. 17, 2022, Trump’s NFT floor price jumped to an all-time high of around 0.79 ether or around $940 per unit, according to stats from the leading NFT marketplace Opensea. Since then, however, Trump’s NFT collection has seen its floor price slip all the way down to 0.15 ether ($180), which is 8.54% lower than the floor values recorded 24 hours ago. Metrics indicate that on Dec. 29, 2022, 9% or 3,864 Trump NFTs are listed on Opensea, and in total, there are roughly 15,083 unique Trump NFT...
|Silver and Gold — Precious Metals Stored Value This Year Outperfor...
Gold prices are ending the year a hair below the values recorded 12 months ago. Statistics on Dec. 26, 2021, show the U.S. dollar value per ounce of gold was $1,810 per unit, and today gold is $1,797 per ounce. Silver, on the other hand, managed to increase a hair in value since last year, as prices climbed from $23.04 per unit to the current USD value of around $23.72 on Dec. 26, 2022.Gold Dropped a Hair During the Last Year, While Silver Rose a Touch - Precious Metal Assets Managed to Hold Value All Year Long Despite the Macroeconomic Calamity and Energy Crisis
While precious metals like gold and silver fluctuated in U.S. dollar value during the last year, gold and silver year-to-date price statistics show prices are pretty much the same as last year. Gold is down a touch during the last 12 months as it was trading for $1,810 per ounce and today it's trading 0.71% lower at $1,797 per ounce. Silver was $23.04 per ounce and today it's 2.95% higher in value at $23.72 an ounce.
2022 was an interesting year for gold as the precious metal reached a lifetime price high on March 8, 2022, as one ounce of gold reached $2,070 per unit. While silver tapped a high on the same day, the metal still has a long way to go before catching up to the $40 an ounce range reached in 2011. Silver came awfully close to surpassing the $27 per unit range on March 8, 2022.
Both precious metals did a lot better than the top two cryptocurrencies bitcoin (BTC) and ethereum (ETH). Metrics show BTC is dow...