What are Price Oracles? Price oracles are like messengers that bring information from the outside world into the blockchain. They provide accurate and reliable data, especially pricing information, to smart contracts running on blockchains. Why are Price Oracles Important in DeFi? Price oracles are essential for DeFi because they: Determine collateralization levels in lending protocols…
A popular crypto analyst has predicted a significant rally for Solana (SOL), an Ethereum competitor. The analyst, known as Altcoin Sherpa, believes SOL could double in value this year. Solana (SOL) Sherpa expects SOL to reach new highs, but he anticipates a pullback in the $200-$250 range before it continues its upward trend. He is…
Coinbase CEO Brian Armstrong believes that the most important use case for cryptocurrencies is their ability to provide a return to “sound money.” The Need for a New Financial System Armstrong argues that out-of-control money printing has led to rising inflation and economic inequality. This has created a need for a new financial system that…
Analyst’s Signal Suggests Upside Potential On-chain analyst Willy Woo believes Bitcoin (BTC) is poised for a rally to new all-time highs. His Bitcoin Risk Signal, which compares network flows to price action, indicates that the crypto king is not yet done surging. “Enjoy the dip while this consolidation lasts,” Woo advises. “This is not the…
Halving Trend Bitcoin’s price has been following a pattern before its halving events. In 2020, the price dropped about 20% in the month leading up to the halving. Expected Crash This time around, the price crash is expected to happen around the same time as the halving. The price could drop between 20% and 38%,…
What Was the Alameda Gap? After the collapse of FTX and Alameda Research, a “gap” in liquidity emerged in the Bitcoin and crypto market. Alameda, a major market maker, had provided significant liquidity before its downfall. Gap No Longer Exists Crypto research firm Kaiko reports that the Alameda Gap has been filled. Market depth has…
Fee War Heats Up The race to attract investors to Bitcoin ETFs has sparked a fee war among issuers. Grayscale, the largest digital asset manager, has remained unfazed by the competition, but its CEO, Michael Sonnenshein, has hinted at future fee reductions. Grayscale’s Strategy Grayscale’s GBTC, with a 1.5% management fee, has been criticized for…
SEC’s Lack of Clear Rules Challenged The crypto industry is pushing the SEC to set clear rules for the crypto market. Major players like Paradigm, the Crypto Council for Innovation, and the US Chamber of Commerce are supporting Coinbase’s appeal to the SEC for specific guidelines. Paradigm’s Arguments Paradigm argues that the SEC has not…
Bitcoin’s recent surge has taken a sharp turn, with the cryptocurrency crashing below $63,000. This has triggered a massive flush of long contracts, amounting to around $533 million. Bitcoin’s Downtrend After hitting an all-time high of over $73,800, Bitcoin has experienced a bearish trend. The latest drop has seen its price plummet by over 7%…
Global Interest Skyrockets Shiba Inu, the popular dog-themed cryptocurrency, has hit new heights, becoming one of the most searched cryptocurrencies on Google. Google Trends shows a surge in interest for Shiba Inu (SHIB) globally, reaching levels not seen in the past two years. Top Countries Driving Interest Ten countries have contributed significantly to Shiba Inu’s…
