Day: May 27, 2023

New Crypto Protocol Captures More Than 80% of the NFT Lending Market in Just One Month: DappRadar

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[ad_1] One crypto lending protocol that just launched this month has already established a dominant grip over the non-fungible token (NFT) lending market, according to blockchain intelligence platform DappRadar. On May 1st, Blur (BLUR), an Ethereum (ETH)-based NFT marketplace, rolled out Blend, a peer-to-peer perpetual lending protocol for non-fungible tokens. Blend allows collectors to put up tokens as collateral to purchase NFTs instead of buying them upfront. In the four weeks since its launch, DappRadar notes that Blend has represented 82% of the borrowing volume across all NFT lending protocols. Source:…

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Cheds recounts how he leaned on crypto during his toughest times

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[ad_1] Technical analyst Cheds has dreamed of being a trader since his childhood. However, the journey he had to take to fulfill his dream wasn’t very straightforward.  In an episode of Cointelegraph’s Crypto Stories, Cheds shared his humble beginnings. According to the technical analyst, he always dreamed about trading stocks since he was a kid. He said: “I loved the idea of buying low and selling high. Playing the market seemed like a great way to become rich enough to buy my own island.” Despite this, life had other plans.…

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Ongoing Crypto Market Downturn Forces 2,710,000 Bitcoin (BTC) Into Loss Territory: Glassnode

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[ad_1] Blockchain analytics firm Glassnode says that the latest market downturn plunged millions of Bitcoin (BTC) underwater. Glassnode says that Bitcoin’s drop from the recent top of $30,900 in mid-April sunk an additional 2.71 million Bitcoin into loss territory, about 14% of the total BTC circulating supply. The latest market dip increased the total Bitcoin supply underwater from 3.96 million BTC to 6.67 million BTC, according to the analytics firm. “The -14.6% move downwards from the local top of $30,900, to our current spot price of $26,400 has propelled 2.71…

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Bitcoin holds 200-week average as trader says ‘inflection point’ is here

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[ad_1] Bitcoin (BTC) held its most recent gains into May 27 as traders called for a change in “bearish” market sentiment. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Trader awaits “pretty major move” for BTC price Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it entered the weekend at around $26,700. The week’s macroeconomic data from the United States had ended with a surprise, as a new Personal Consumption Expenditures (PCE) index print showed the economy weathering tighter financial conditions much better than expected. Markets then began…

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One Catalyst Could Trigger Altcoins To Plunge by Up to 50%, Predicts Popular Crypto Analyst – The Daily Hodl

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[ad_1] A widely followed crypto strategist says that one catalyst could trigger an epic collapse in the altcoin markets. Pseudonymous analyst Altcoin Sherpa tells his 195,700 Twitter followers that he’s keeping an eye on the Bitcoin (BTC) dominance chart (BTC.D). BTC.D tracks how much of the total crypto market capitalization belongs to the crypto king. According to the analyst, if BTC.D respects resistance at 48.20%, it could lead to rallies in the altcoin markets as Bitcoin will likely consolidate under such a scenario. However, Altcoin Sherpa warns that altcoins could…

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Crypto Project Defies Bitcoin Slump, Surges 125% This Week Amid New App Launch

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[ad_1] The token ARPA Network (ARPA) is seeing massive gains this week as the crypto community awaits the launch of its first application. The decentralized secure computation network recently announced that it will introduce a random number generator (RNG) called Randcast. A random number generator is a mathematical construct designed to generate a random set of numbers with no distinguishable patterns. “ARPA will introduce an RNG, Randcast, as the first application on the ARPA Network. Randcast will be a decentralized, verifiable, multi-chain supported RNG that will both demonstrate the capacities…

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