Avalanche (AVAX) Drops 5% In Minutes Amid Terra Dump Concerns
On Monday, Avalanche (AVAX) plummeted as traders thought the Luna Foundation Guard (LFG) would sell its token holdings. AVAX is currently trading at $32.41, down 6% in the last 24 hours. The token’s losses occurred shortly after the Luna Foundation Guard announced that it would spend its remaining reserves to compensate UST holders. This could […]
Ethereum’s Founder Asks Terra To Target These Holders During Bailout
On Sunday, Ethereum founder Vitalik Buterin stated that any efforts by Terra to compensate its holders should be directed on the most vulnerable. Buterin requested in a tweet that Terra’s developers focus their recovery efforts on UST holders who were not whales, but rather smaller, retail investors. The ETH founder’s remarks were in response to […]
Bitcoin (BTC) Drops To Near $28K Minutes Following U.S Inflation
Bitcoin (BTC) fell below $30,000 on Wednesday, just minutes after data showing April inflation in the United States was more than predicted. BTC plunged more than 6% from intraday highs, reaching a low of $29,100. Following the reading, other major cryptocurrencies went negative for the day. Ethereum is currently trading at a loss of over […]
Maker Token (MKR) Surges 50% As Terra Plummets
Expectations that Maker’s (MKR) price will take over Terra’s domination on DeFi saw the token rising over 50% in the last few hours. The DeFi token, which powers the DAI stablecoin, appears to be benefiting from the fall of Terra’s UST. Due to a more robust risk framework for managing stability, MakerDAO has shown to […]
Here’s Why Crypto Markets Could Rebound Today On US Inflation Data
The crypto markets have witnessed a big blow in recent weeks but they could see a relief rebound on Wednesday if U.S. inflation data are positive. The total market capitalization of cryptocurrency has dropped by about $500 billion in the last week and is now hovering at $.14 trillion. Major cryptocurrencies like Bitcoin (BTC) and […]