🚨 $40-Billion wipeout caused by just 7 'Whale' traders
In May, the overall cryptocurrency market saw an unprecedented meltdown as $40 billion got wiped out of investors’ holdings caused by the act of just seven ‘whale’ traders.
A research says that between May 7 and May 11, the referred seven whale accounts aggressively sold UST on crypto exchanges, as they appeared to have lost faith in UST.
When the Luna Foundation Guard failed to stabilize the UST price, even more holders began to sell to cut losses, and hence, the price fell lower than ever.
https://news.abplive.com/business/crypto/crypto-crash-usd-40-billion-wipeout-caused-by-7-whale-traders-wallets-nansen-research-details-address-1534969
In May, the overall cryptocurrency market saw an unprecedented meltdown as $40 billion got wiped out of investors’ holdings caused by the act of just seven ‘whale’ traders.
A research says that between May 7 and May 11, the referred seven whale accounts aggressively sold UST on crypto exchanges, as they appeared to have lost faith in UST.
When the Luna Foundation Guard failed to stabilize the UST price, even more holders began to sell to cut losses, and hence, the price fell lower than ever.
https://news.abplive.com/business/crypto/crypto-crash-usd-40-billion-wipeout-caused-by-7-whale-traders-wallets-nansen-research-details-address-1534969
abp Live
Crypto Crash: $40-Billion Wipeout Caused By Just 7 'Whale' Traders, Research Finds
The research primarily looked at why LUNA and UST saw an unprecedented meltdown in May.
😳 CryptoPunk #3825 and #2006 was bought for 0.1 ETH, $176 USD
On March 28th Cryptopunk #3825 was sold for $283,025 (80 ETH) and on Dec 2nd Punk #2006 was sold for $613,345 (135 ETH)
On March 28th Cryptopunk #3825 was sold for $283,025 (80 ETH) and on Dec 2nd Punk #2006 was sold for $613,345 (135 ETH)
Binance Labs invests in PancakeSwap
◾Binance Labs strategically invests in PancakeSwap’s utility and governance token, $CAKE.
◾The investment is part of Binance Labs’ mission to facilitate the next wave of global blockchain adoption by providing technology development, marketing and community support, and Web3 enterprise solutions.
◾Launched in September 2020, PancakeSwap has grown to be the biggest dApp on BNB Chain, with daily active users of over 400,000.
https://www.binance.com/en/blog/ecosystem/binance-labs-makes-strategic-investment-in-pancakeswap-421499824684903958
◾Binance Labs strategically invests in PancakeSwap’s utility and governance token, $CAKE.
◾The investment is part of Binance Labs’ mission to facilitate the next wave of global blockchain adoption by providing technology development, marketing and community support, and Web3 enterprise solutions.
◾Launched in September 2020, PancakeSwap has grown to be the biggest dApp on BNB Chain, with daily active users of over 400,000.
https://www.binance.com/en/blog/ecosystem/binance-labs-makes-strategic-investment-in-pancakeswap-421499824684903958
Binance Blog
Bitcoin Exchange | Cryptocurrency Exchange | Binance
Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume
⚔️Duelist is the best upcoming RPG Game with awesome combat modes. ⚔️
The Duelist is an indie game in the mixed RPG genre. The unique game feature is two combat modes - the 1vs1 duel mode and the squad mode. The action takes place in medieval Europe of the XV-XVI centuries. The game tells the story of a former mercenary embroiled in a confrontation of City-States. The player will go from free mercenary to commander of his condottieri squad and play a prominent role in the fast-paced war
The Duelist is the first limited collection available to early backers of the project that will give definite bonuses to participate in the follow-up. The unique and rare avatars from the first collection will migrate in-game as your additional skins at the multiplayer game launch. The second collection will have a direct link with the multiplayer version of the game and will allow you to get unique skins for your character and squad.
▶️ https://youtu.be/akVsfk3vklc
📍Join http://discord.gg/duelistgame
Limited NFT сollection for early members, in discord ➡️http://discord.gg/duelistgame
The Duelist is an indie game in the mixed RPG genre. The unique game feature is two combat modes - the 1vs1 duel mode and the squad mode. The action takes place in medieval Europe of the XV-XVI centuries. The game tells the story of a former mercenary embroiled in a confrontation of City-States. The player will go from free mercenary to commander of his condottieri squad and play a prominent role in the fast-paced war
The Duelist is the first limited collection available to early backers of the project that will give definite bonuses to participate in the follow-up. The unique and rare avatars from the first collection will migrate in-game as your additional skins at the multiplayer game launch. The second collection will have a direct link with the multiplayer version of the game and will allow you to get unique skins for your character and squad.
▶️ https://youtu.be/akVsfk3vklc
📍Join http://discord.gg/duelistgame
Limited NFT сollection for early members, in discord ➡️http://discord.gg/duelistgame
PayPal allows the transfer of crypto to external wallets
PayPal users will now be able to transfer cryptocurrency from their accounts to other wallets and exchanges.
https://www.theblockcrypto.com/linked/150437/paypal-adds-new-crypto-services-including-transfers-to-other-wallets?utm_source=telegram&utm_medium=social
PayPal users will now be able to transfer cryptocurrency from their accounts to other wallets and exchanges.
https://www.theblockcrypto.com/linked/150437/paypal-adds-new-crypto-services-including-transfers-to-other-wallets?utm_source=telegram&utm_medium=social
The Block
PayPal adds new crypto services including transfers to other wallets
Payments firm PayPal also scored a BitLicense from the state of New York.
Bitmex Co-Founder Arthur Hayes: Altcoins may lose another 50% of their value in the upcoming weeks
https://u.today/altcoins-may-lose-another-50-of-their-value-in-upcoming-weeks-bitmex-co-founder-arthur-hayes
https://u.today/altcoins-may-lose-another-50-of-their-value-in-upcoming-weeks-bitmex-co-founder-arthur-hayes
U.Today
Altcoins May Lose Another 50% of Their Value in Upcoming Weeks: Bitmex Co-Founder Arthur Hayes
Altcoins are set for another plunge, according to co-founder of one of biggest derivatives trading platforms on crypto market
In the last 4 hours, $182 million was liquidated.
Additionally, in the past 24 hours, 79,210 traders were liquidated, resulting in $255.73 million in liquidations.
Additionally, in the past 24 hours, 79,210 traders were liquidated, resulting in $255.73 million in liquidations.
TIME partners with The Sandbox to build ‘TIME Square’ in the metaverse
TIME Square will be built on TIME’s land in The Sandbox as a destination for convening, art, and commerce, inspired by the visual spirit and energy of the iconic neighborhood in New York City.
In addition, it will provide virtual access to discussions, events, screenings of TIME Studios projects, and educational experiences for the TIME NFT community.
https://sandboxgame.medium.com/time-is-partering-with-the-sandbox-to-build-time-square-in-the-metaverse-6cd361e3e5f0
TIME Square will be built on TIME’s land in The Sandbox as a destination for convening, art, and commerce, inspired by the visual spirit and energy of the iconic neighborhood in New York City.
In addition, it will provide virtual access to discussions, events, screenings of TIME Studios projects, and educational experiences for the TIME NFT community.
https://sandboxgame.medium.com/time-is-partering-with-the-sandbox-to-build-time-square-in-the-metaverse-6cd361e3e5f0
Medium
TIME is partering with The Sandbox to build ‘TIME Square’ in the metaverse
Iconic Times Square location will be reimagined in The Sandbox as a virtual hub for art and commerce curated by TIMEPieces
💥 Cardano developers will launch its first light wallet called ‘Lace’
◾This new wallet allows users to manage, control, and store all of their cryptocurrencies in one place.
https://news.coincu.com/101359-cardano-will-launch-first-light-wallet/
◾This new wallet allows users to manage, control, and store all of their cryptocurrencies in one place.
https://news.coincu.com/101359-cardano-will-launch-first-light-wallet/
Coincu
Cardano Will Launch Its First Light Wallet Called 'Lace' - Coincu
The new light wallet Lace was developed by the Input Output team of Cardano. According to the development team, this new wallet has a ton of functionality.
🔻Ethereum NFT trading volume declined 55% slipping from 1.3 million ETH to just 584M ETH
◾In terms of USD, there was a 70% drop from $2.6B to about $672M.
https://decrypt.co/104101/ethereum-nft-trading-volume-falls-by-70-in-june-but-number-of-sales-steady?utm_source=telegram&utm_medium=social&utm_campaign=smt
◾In terms of USD, there was a 70% drop from $2.6B to about $672M.
https://decrypt.co/104101/ethereum-nft-trading-volume-falls-by-70-in-june-but-number-of-sales-steady?utm_source=telegram&utm_medium=social&utm_campaign=smt
Decrypt
Ethereum NFT Trading Volume Falls By 70% in June—But Number of Sales Steady - Decrypt
The total volume of Ethereum NFT trades has declined this month, partly due to the falling price of ETH, but traders are still trading.
💥 Tether (USDT) launches on Cosmos Ecosystem, following its launch on the OKC blockchain.
◾This will significantly reduce the user's USDT deposit and withdrawal costs on the OKX platform and improve the on-chain transfer experience.
◾This will significantly reduce the user's USDT deposit and withdrawal costs on the OKX platform and improve the on-chain transfer experience.
🚨 Binance will disable off-chain fund transfers between itself and WazirX on August 11.
GameStop Wallet version 0.6.9 adds ImmutableX Layer 2 support
This latest update, version 0.6.9, allows users to access their ImmutableX assets, send and receive goods, and connect to immutable-enabled dapps.
https://twitter.com/GameStopNFT/status/1556766458276974592?s=20&t=GhCvgLbsXNW9lt13le5ICQ
This latest update, version 0.6.9, allows users to access their ImmutableX assets, send and receive goods, and connect to immutable-enabled dapps.
https://twitter.com/GameStopNFT/status/1556766458276974592?s=20&t=GhCvgLbsXNW9lt13le5ICQ
Voyager Digital reportedly had deep ties with SBF-owned Alameda Research.
Financial documents of Voyager revealed that they lent nearly $1.6 billion in crypto loans to an entity registered in the British Virgin Islands, the same place Alameda is registered.
Financial documents of Voyager revealed that they lent nearly $1.6 billion in crypto loans to an entity registered in the British Virgin Islands, the same place Alameda is registered.
BabyDoge announced that the launch of its swap protocol would take place in a week.
The protocol will also include such features as farming and staking.
The team claims that it was the first swap to make it possible to swap tokens with zero fees.
https://u.today/testnet-of-babydoge-swap-to-go-live-next-week
The protocol will also include such features as farming and staking.
The team claims that it was the first swap to make it possible to swap tokens with zero fees.
https://u.today/testnet-of-babydoge-swap-to-go-live-next-week
U.Today
Testnet of BabyDoge Swap to Go Live Next Week
BabyDoge announced a testnet launch of its new swap protocol
Real Madrid and Barcelona have filed for a joint metaverse-related trademark application.
The application covers virtual reality and augmented reality software and games as well as virtual reality clothing, footwear, headgear, sportswear, and more.
The application covers virtual reality and augmented reality software and games as well as virtual reality clothing, footwear, headgear, sportswear, and more.
Do Kwon has said South Korean investigators looking into the collapse of Terra have not reached out to him.
He says he “literally didn’t think about even for one second” what would happen if Terra collapsed.
https://www.theblock.co/post/163521/south-korean-investigators-havent-reached-out-about-terra-collapse-says-do-kwon?utm_source=telegram1&utm_medium=social
He says he “literally didn’t think about even for one second” what would happen if Terra collapsed.
https://www.theblock.co/post/163521/south-korean-investigators-havent-reached-out-about-terra-collapse-says-do-kwon?utm_source=telegram1&utm_medium=social
The Block
South Korean investigators 'haven’t reached out' about Terra collapse, says Do Kwon
Do Kwon has said South Korean investigators looking into the collapse of Terra have not reached out to him and that he has never been in touch with them.
Celsius Network said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
Crypto lender Celsius Network, which is going through bankruptcy proceedings, said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
According to a document, filed Thursday by the firm’s legal partner Kirkland & Ellis for a lackluster third bankruptcy hearing in the U.S. Bankruptcy Court for the Southern District of New York, Celsius expects “approximately $70 million of proceeds from the repayment of USD denominated loans.”
During the hearing, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender would not have been able to use to finance its operations.
The extra money means a much-needed boost to Celsius’ scarce liquidity and will extend its runway to pay its business and restructuring costs as it seeks to find a more durable solution to its cash crunch problem. The firm’s costs far exceed its proceeds from its bitcoin mining operation, which is not yet profitable.
According to the Celsius’ provision, it expects to receive the majority of the repayment by October 7. The forecast shows that its disposable cash balance will stand at $42 million by the end of November. Extrapolating its weekly net cash flows, the cash pile will only barely last through the end of this year.
The company initially forecasted – without accounting for the loan repayments – that it would run out of cash by October. It later revised its forecast to say it would probably survive till the end of the year, citing $61 million in loans maturing. The document that contains the latest cash flow forecast declared a slightly greater figure than that, $70 million.
The troubled lender found itself in the middle of a recent insolvency crisis in the crypto industry. The firm filed for Chapter 11 bankruptcy protection in July and later revealed it was $2.8 billion short of crypto holdings that it owed to its customers.
Crypto lender Celsius Network, which is going through bankruptcy proceedings, said a freshly-found $70 million pile of cash would likely help the firm continue operating through the end of 2022.
According to a document, filed Thursday by the firm’s legal partner Kirkland & Ellis for a lackluster third bankruptcy hearing in the U.S. Bankruptcy Court for the Southern District of New York, Celsius expects “approximately $70 million of proceeds from the repayment of USD denominated loans.”
During the hearing, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender would not have been able to use to finance its operations.
The extra money means a much-needed boost to Celsius’ scarce liquidity and will extend its runway to pay its business and restructuring costs as it seeks to find a more durable solution to its cash crunch problem. The firm’s costs far exceed its proceeds from its bitcoin mining operation, which is not yet profitable.
According to the Celsius’ provision, it expects to receive the majority of the repayment by October 7. The forecast shows that its disposable cash balance will stand at $42 million by the end of November. Extrapolating its weekly net cash flows, the cash pile will only barely last through the end of this year.
The company initially forecasted – without accounting for the loan repayments – that it would run out of cash by October. It later revised its forecast to say it would probably survive till the end of the year, citing $61 million in loans maturing. The document that contains the latest cash flow forecast declared a slightly greater figure than that, $70 million.
The troubled lender found itself in the middle of a recent insolvency crisis in the crypto industry. The firm filed for Chapter 11 bankruptcy protection in July and later revealed it was $2.8 billion short of crypto holdings that it owed to its customers.
CoinDesk
Crypto Lender Celsius Network Says $70M Cash Relief Will Bolster Efforts to Survive the Year
The extra cash from loan repayments, previously believed to be in stablecoins, means a much needed boost for the cash-strapped lender.