On Tuesday, Bitcoin (BTC) and other cryptocurrencies traded higher as the gloomy mood from the previous week faded.
The majority of alternative cryptocurrencies (altcoins) beat bitcoin, indicating that traders had a higher capacity for risk. Thus, in the last 24 hours, THORChain’s RUNE token has risen 11%, compared to a 2% growth in BTC. Decentralized finance (DeFi) currencies like AAVE and EOS, on the other hand, climbed more than 7% on Tuesday.
The bitcoin Fear & Greed Index increased slightly on Tuesday, indicating that sentiment among crypto traders is improving. Even yet, since BTC trades in a narrow range between $32,000 and $46,000, some investors remain on the fence.
The 10-year Treasury yield jumped to 2.9% on Tuesday, the highest level since late 2018. Over the last 24 hours, gold, a classic safe-haven asset, has traded lower, reflecting a little risk-on tone in global markets. Now let us take a glance at what occurred in the crypto realm.
Related Article | Bitcoin & Ethereum Market Overview
New Wallets Surge On Cardano, What’s Behind This?
The Cardano network has seen a spike in the number of new wallets added on a daily basis. There had been more than 200,000 new addresses added to the network in the space of a month. Speculations abound as to why the network is seeing this accelerated growth. The Cardano DeFi network is still very young compared to its competitors. There are almost 900 projects that are currently being built on the Cardano network. One of these is legendary rapper Snoop Dogg who announced he would be launching an NFT collection on the network.
Can RUNE Sustain Its 20% Rally? Why Does This Analyst doubt It?
The native token of this decentralized cross-chain bridge rose from its 2022 low at around $3 with 30% intra-day rallies to its current levels. Analysts believe that RUNE’s current rally has been “healthy” and suggests more gains for the token. The analyst said that “the greed is out” of the market, for the time being. THORChain introduced a major feature for its network recently called synthetics assets. This gives users the capacity to access tokens pegged to the price of BTC, ETH, and others.
Top Ethereum Whales Now Hold Almost $1.5 Billion Worth Of SHIB
One whale singlehandedly bought almost $5 million worth of cryptocurrency. This makes it the most widely held token by the top Etheric whales. The Shiba Inu contract has now made it onto the list of the top 10 contracts interacted with for the past day. Shiba Inu is trending at $0.000025 with a total market cap of $13.7 billion. It is now the 15th largest cryptocurrency by market cap, having fallen behind Dogecoin. The meme coin continues to trade more than 60% below its previous all-time high.
The Nightly Mint: Daily NFT Recap
The Nightly Mint looks at the top stories of the past 72 hours. NFTs continue to be a hot topic in gaming, with casual and professional opinions that truly run the gambit throughout the industry. Activision Blizzard President Mike Ybarra shut down rumors over the weekend that the company was potentially exploring an NFT.
The Young Turks Embarrass Themselves Trying To Discuss Crypto Regulation
Ana Kasparian and Francesca Fiorentini read a New York Times article and gave the most inane commentary you could imagine. Their thesis is that crypto lobbyists are influencing bills and legislation while at the same time trying to keep the industry deregulated. The Young Turks’ bosses did these women dirty by putting them in this position. It seems like they ordered a hit piece about one of the most complex subjects around without providing any training whatsoever. Do The Young Turks have to train themselves?
Because it seems as confused as the ladies. Cryptocurrency lobbyists are trying to get rid of anti-money laundering (AML) laws. Every exchange in the US has AML procedures in place. The only way to stop money laundering is for financial authorities to do their job and stop it. Common citizens shouldn’t suffer.
LUNA Moves On Its Own Beat, Bulls Aim For New ATH
LUNA has been on an uptrend since August 2021. It briefly dropped towards the $40 area and resumed its momentum to $120. As Bitcoin and larger cryptocurrencies bleed under the pressure of a broad market downside, LUNA hints at the moon. The long-term fundamentals behind this cryptocurrency’s increase are still in place. LUNA’s (UST) transaction volume reached an all-time high of close to $3 billion in November 2021.
This metric stood at less than $50 million in April 2021. Terra has also seen the deployment of new assets, liquidity pools, and the launch of the Terra Global Founder Fellowship program.
CISO Pasi Koistinen on Cryptomarkets, Cybercrime, and His Role in Coinhako
Pasi Koistinen was recently appointed the CISO of Coinhako. His role is to organize and manage cybersecurity activities across the whole company. He also acts as the head of the security function and works in close contact with other business units. Cybercrime is evolving all the time and due to the anonymity of crypto, cryptocurrencies have been one of the preferred payment methods for cybercrime. Cryptocurrencies represent only a small percentage of the entire digital asset industry as cash is still the go-to medium for illicit payments.
Cryptocurrency exchanges need robust security to prevent, detect and react to attacks. The prime goal of such attacks is to steal customer data and private encryption keys. Cryptocurrency will modernize the global financial system as the Internet did to the exchange of ideas and information.
ADA To Rebound With Integration Of USDT And USDC On Cardano?
Cardano (ADA) is one of the best-performing assets in the crypto top 10 by market cap. The network could soon have native support for Tether and USD Coin. ADA’s price trades at $0.95 with a 2% profit in the last 24-hours. Users can benefit from a “simple” way to transact on the Cardano network. The tokens on one side of the two chains will enter a smart contract to be “locked” as synthetic versions are minted on the other side. A gateway will lock these ERC-20 tokens and then issue Cardano native equivalents.
Uniswap Launches Product In The Midst Of Lawsuit, UNI Reacts To The Downside
UNI records a 2% loss during the last day. UNI trades at $9.4 with a 6% loss in the past 7-days. A class-action lawsuit against Uniswap Labs, its inventor Hayden Adams, and other major investors in the project. Uniswap is a decentralized exchange running on the platform. Users can now “swap tokens anywhere across the web”.
Less than 24 hours after a class action was filed, Uniswapp Labs launched a Swap Widget feature. The dApp is accessible via certain platforms, such as Open Sea and Oasis.
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