STEPN to new highs? GMT price painting first 'bull flag' toward $5 target
STEPN (GMT) has rallied strongly against the 🇺🇸 dollar 💵 this week as it looks likely to form a classical bullish technical pattern called the "bull flag."
GMT's price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 💵 followed by a relatively modest correction to nearly $3 💵. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of it to the upside.
#cryptonews #cryptocurrencies #GMT
STEPN (GMT) has rallied strongly against the 🇺🇸 dollar 💵 this week as it looks likely to form a classical bullish technical pattern called the "bull flag."
GMT's price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 💵 followed by a relatively modest correction to nearly $3 💵. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of it to the upside.
#cryptonews #cryptocurrencies #GMT
Looking to take out a crypto loan? Here’s what you need to know
🏦 Loans based on cryptocurrencies have become a mainstay of the decentralized finance (DeFi) universe 🌌 ever since the smart contract-based lending/borrowing platforms began offering the service to crypto users. The Ethereum network, the first blockchain that scaled the smart contract functionality, sees most of the total value locked (TVL) on DeFi protocols dominated by cryptocurrency lending platforms.
👉🏻According to data from DeFi Pulse, the top 4 of 10 DeFi protocols are lending protocols that account for 💵 $37.04 billion in TVL, just 49% of TVL of the entire DeFi market on the Ethereum blockchain. Ethereum leads in terms of being the most utilized blockchain for the DeFi market and the TVL on the network. Maker and Aave are the biggest players here, with a TVL of 💵 $14.52 billion and 💵 $11.19 billion, respectively.
#cryptonews #cryptocurrencies #loans
🏦 Loans based on cryptocurrencies have become a mainstay of the decentralized finance (DeFi) universe 🌌 ever since the smart contract-based lending/borrowing platforms began offering the service to crypto users. The Ethereum network, the first blockchain that scaled the smart contract functionality, sees most of the total value locked (TVL) on DeFi protocols dominated by cryptocurrency lending platforms.
👉🏻According to data from DeFi Pulse, the top 4 of 10 DeFi protocols are lending protocols that account for 💵 $37.04 billion in TVL, just 49% of TVL of the entire DeFi market on the Ethereum blockchain. Ethereum leads in terms of being the most utilized blockchain for the DeFi market and the TVL on the network. Maker and Aave are the biggest players here, with a TVL of 💵 $14.52 billion and 💵 $11.19 billion, respectively.
#cryptonews #cryptocurrencies #loans
Price analysis 5/13: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Bitcoin (BTC) rebounded sharply after dropping near its realized price of 💵 $24,000 on 🗓 May 12, suggesting some bulls went against the herd and bought the dip. According to on-chain analytics platform CryptoQuant, the exchange balances declined by more than 24,335 Bitcoin on 🗓 May 11 and 12, indicating that bulls may have started bottom fishing 🎣.
However, macro investor Raoul Pal is not confident that a bottom has been made. In an exclusive interview with Cointelegraph, Pal said that if equity markets witness a capitulation phase, crypto markets are also likely to plunge before forming a bottom. He anticipates the current bear 🐻 phase to end after the 🇺🇸 Federal Reserve stops hiking rates.
#cryptonews #cryptocurrencies #price
Bitcoin (BTC) rebounded sharply after dropping near its realized price of 💵 $24,000 on 🗓 May 12, suggesting some bulls went against the herd and bought the dip. According to on-chain analytics platform CryptoQuant, the exchange balances declined by more than 24,335 Bitcoin on 🗓 May 11 and 12, indicating that bulls may have started bottom fishing 🎣.
However, macro investor Raoul Pal is not confident that a bottom has been made. In an exclusive interview with Cointelegraph, Pal said that if equity markets witness a capitulation phase, crypto markets are also likely to plunge before forming a bottom. He anticipates the current bear 🐻 phase to end after the 🇺🇸 Federal Reserve stops hiking rates.
#cryptonews #cryptocurrencies #price
The European Union is preparing to tighten regulation of cryptocurrencies
Today, at a meeting of the European Commission, a discussion will be held on the draft law on the European markets for cryptoassets (MiCA). If agreements on individual issues are not reached, then the final decision will be made 🗓 on the 30th of June, writes Bloomberg.
According to the regulator, the MiCA package of laws will provide legal certainty in relation to cryptocurrencies, stock tokens and stablecoins, and is based on the same principles as the EU Directive on Markets in Financial Instruments (MiFID).
The bill contains rules for the issuance and circulation of digital assets for 2️⃣7️⃣ EU member states and, above all, is aimed at protecting users and investors, another basic principle of the proposed regulation is support for innovation.
EU countries still disagree on several aspects of the MiCA regulation:
🔹spread of new rules to NFTs;
🔹introduction of a new category of “significant” stablecoins and their regulation;
🔹supervision of the largest service providers in the field of virtual assets;
🔹taking into account the impact of mining on the environment.
#cryptonews #regulation #cryptocurrencies
Today, at a meeting of the European Commission, a discussion will be held on the draft law on the European markets for cryptoassets (MiCA). If agreements on individual issues are not reached, then the final decision will be made 🗓 on the 30th of June, writes Bloomberg.
According to the regulator, the MiCA package of laws will provide legal certainty in relation to cryptocurrencies, stock tokens and stablecoins, and is based on the same principles as the EU Directive on Markets in Financial Instruments (MiFID).
The bill contains rules for the issuance and circulation of digital assets for 2️⃣7️⃣ EU member states and, above all, is aimed at protecting users and investors, another basic principle of the proposed regulation is support for innovation.
EU countries still disagree on several aspects of the MiCA regulation:
🔹spread of new rules to NFTs;
🔹introduction of a new category of “significant” stablecoins and their regulation;
🔹supervision of the largest service providers in the field of virtual assets;
🔹taking into account the impact of mining on the environment.
#cryptonews #regulation #cryptocurrencies