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The Meta Platforms project Novi is officially being shut down. Novi was a means of transferring money using Meta’s cryptocurrency digital wallet. The website published its closing date as September 1. Starting July 21, users of the platform will not be able to add money to their accounts. Novi has urged users to withdraw all their money as once the pilot ends; they will have no access to it. The website reads, “If you[…]
The NFT art creators are taking over the market during the crypto crash. Approximately a month before Terra Luna collapsed, an NFT star from Singapore, Shavonne Wong, sold a collection of NFTs in one minute.The project named Proxy was born in collaboration with the photographer Lenne Chai. The project consisted of 60 pictures of sculpted schoolgirls against famous backdrops. The price of each NFT stood at 1.25 ETH. Which is about US $3,500, making[…]
According to JP Morgan, the deleveraging phase will not last long. You may be wondering what JP Morgan is. JP Morgan is one of the most repsected financial service firms in the world. JP Morgan serves businesses, corporations, and individuals in over 100 countries. Some crypto companies have failed, which is not a shock. It is due to the price of many cryptos dropping. Nikolaos Panigirtzoglou, a strategist at JP Morgan, says that the[…]
The Terra LUNA crash shook the whole crypto market, whats with Terra now? As it crashed many investors and experts were concerned about the future of cryptocurrencies. The market was volatile on its own and the crash of Terra was an event many did not expect. This resulted in investors steering far away from the market and its volatility. Many were able to justify this fall with the whales selling their favored tokens as[…]
The current state of the market has made several crypto exchanges go into crisis mode. As we all know, the market has not been in a good state for the past six months. Many significant cryptocurrencies like Bitcoin, Ethereum, and Terra have plummeted more than half. Due to the major losses in value, the trading volumes have declined. As a result of the fall in trading volumes, many crypto exchanges have experienced financial risks.[…]
Most crypto prices are currently in the red. The global crypto market has dropped by one percent and is now at $951.6 billion. The market volume on the last day was at $62 billion, up 26 percent from yesterday. Bitcoin, the most popular cryptos price has dropped one percent over the past 24 hours. The CEO and Co-founder of Mudrex, Edul Patel, said. “Bitcoin has been trading above the US$21,000 level since last week.[…]
The popular crypto exchange Binance US no longer charges a trading fee for Bitcoin spot market trades. Binance is following in the footsteps of Robinhood, which introduced no-commission crypto trading in 2018. The CEO of Binance, Brian Shroder, stands proud of this decision. He mentioned that they are now the first US crypto exchange that doesn’t require a fee for spot trading bitcoin. Along with no trading volume requirement and no earning spreads on[…]
The crypto crash and downturn in the market are not good for any trader but are arbitrageurs making money? Arbitrage is a method of trading that takes advantage of minor price differences between identical assets in two or more marketplaces. Arbitragers purchase in one market and sell in the other to profit from the difference in pricing. Making money It seems a bit absurd to talk about arbitrageurs making money when the market is[…]
Bitcoin and Ethereum have gained some value in the past 24 hours. The largest cryptocurrency by market cap is up by 5.7%. It stands at the $21,400 mark, according to info from CoinMarketCap. Similarly, the second-largest cryptocurrency by market cap, Ethereum, has risen by %10.9 and is at around $1,140. As Bitcoin and Ethereum have gained, the global market cap has experienced a gain of 6.7% to $921.5 billion. Solana and Polkadot have also[…]
Amid the downtrend in the stock market and crypto prices, Coinbase lays off workers. The total number of workers currently at Coinbase is roughly 5,000, which is to be cut by 18%. The layoff at Coinbase will result in a reduction of 1,100 workers. Brian Armstrong the CEO of Coinbase mentioned that there’s a need to increase efficiency in their company. According to Armstrong, the company advanced “too quickly” in the bull market. “Our[…]