Day: April 24, 2022

Getting Shibby with it: SHIB burning portal launches

Brian Newar

Popular memecoin project Shiba Inu (SHIB) has launched a SHIB Burn Portal to decrease token supply and enable users to earn passive rewards while doing so. The Shiba Inu team stated on the portal website that it was created explicitly to increase scarcity of SHIB and make it “one of the best digital assets in the history of cryptocurrencies.” The portal was created as part of a partnership between Shiba Inu and the Ryoshi’s Vision (RYOSHI), which is an Ethereum-based decentralized finance (DeFi) project that aims to support the growth…

Ethereum At Clear Risk of More Losses Below $2,800

Aayush Jindal

Ethereum started a sharp decline from $3,000 against the US Dollar. ETH is struggling below $2,900 and might slide below the $2,800 level in the near term. Ethereum started a major decline after there was a clear move below $3,000. The price is now trading above $2,900 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,935 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,840 support to avoid more downsides in the…

Bitcoin Turns Red, Why BTC Could Dive Below $39K

Aayush Jindal

Bitcoin started another decline below the $40,000 level against the US Dollar. BTC could extend losses if it stays below the $40,000 resistance zone. Bitcoin started another decline after it failed to clear the $40,000 resistance zone. The price is now trading below $39,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major decline if there is a close below the $38,800…

What is impermanent loss and how to avoid it?

Cointelegraph By Onkar Singh

The difference between the LP tokens’ value and the underlying tokens’ theoretical value if they hadn’t been paired leads to IL. Let’s look at a hypothetical situation to see how impermanent/temporary loss occurs. Suppose a liquidity provider with 10 ETH wants to offer liquidity to a 50/50 ETH/USDT pool. They’ll need to deposit 10 ETH and 10,000 USDT in this scenario (assuming 1ETH = 1,000 USDT). If the pool they commit to has a total asset value of 100,000 USDT (50 ETH and 50,000 USDT), their share will be equivalent…

How can blockchain tech change ratings

Wahid Pessarlay

The concept of lending and borrowing is as old as time itself. Regarding finances, while some individuals have more than enough for themselves, others barely have enough to get by. As long as there is this imbalance in finance distribution, there will always be a need to borrow and a desire to lend. Lending involves giving out a resource on credit with the condition of it being returned upon an agreed period of time. In this case, such resources would be money or any financial asset. The lender could be…

BTC, DOT, XMR, APE, CAKE

Rakesh Upadhyay

Bitcoin (BTC) and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move. Traders may be waiting for Wall Street to open before placing large directional bets because Bitcoin has been tightly correlated with the S&P 500 in the past few days. The sharp fall in the U.S. equity markets on April 22 suggests that investors are increasingly nervous about the hawkish stance of central banks. The market expects a 250 basis points rate hike by the U.S. Federal…

Huobi Tech establishes Huobi Tech Capital to capture opportunities in Web3.0, DeFi, and Metaverse

Anthony B

HONG KONG, April 24, 2022 /PRNewswire/ — Huobi Technology Holdings Limited (Huobi Tech; Stock Code: 1611.HK) today announced the launch of Huobi Tech Capital, its strategic investment and M&A unit. The latter will explore investment opportunities in the blockchain industry by looking into areas such as Web3, DeFi and the Metaverse. Huobi Tech Capital will focus on early-stage investments that ride on industry trends, as well as strategic acquisitions that strengthen Huobi Tech’s blockchain ecosystem. It will adopt flexible investment strategies, including traditional equity investment and token investment in the…

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