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BTC could suffer its second monthly downturn of 2023, while ether seems headed for its first losing month.
The redemption plan for the protocol appears to heavily favor employees and Parrot’s venture investors.
The lending platform is on track to remove some $7 million of MKR governance tokens from the market in the next month, according to blockchain data.
The latest price moves in crypto markets in context for July 21, 2023.
Some selling pressure may have arisen from a revised U.S. bill that excludes a host of traditional securities from the "digital asset" category, which some say bodes ill for DeFi.
Unlocks are staggered releases of cryptocurrencies that had been frozen to prevent early investors or project team members from selling in large numbers.
Interest on the ETF's cash balances helps offset the cost of rolling from one set of futures to the next, ensuring a low performance discrepancy, the firm said.
The decline reflects an asset that has been stuck in a tight trading range. PLUS: Bitcoin plods below $30K amid another sluggish day for cryptos in which LINK was a rare bright spot.
The embattled Harbor Trade credit pool minted $1.5 million of DAI stablecoin secured with loans to a consumer electronics firm, which defaulted on $2.1 million of debt.
Tech stocks such as Tesla and Netflix, which crypto prices tend to correlate with, sold off during the day as investors shied away from risk assets.
- 09:36South Korea plans to introduce new guidelines in the third quarter to lift the ban on institutional investment in cryptocurrenciesAccording to The Block, South Korea's financial regulator announced on Wednesday that it plans to release comprehensive guidelines for institutional cryptocurrency investment in the third quarter. The Financial Services Commission made this announcement at a meeting with local crypto industry experts. Although investment guides for listed companies and professional investors are expected to be introduced in the third quarter, the Financial Services Commission stated that its goal is to launch investment guides for non-profit organizations and cryptocurrency exchanges ahead of schedule in April. The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed that it intends to first allow charities and universities to sell their cryptocurrency assets in the second quarter. The forthcoming detailed guidelines further consolidate South Korea's shift towards cryptocurrencies, no longer strictly opposing crypto assets entering traditional financial markets. Meanwhile, the Financial Services Commission has also begun formulating a second set of rules for a two-part cryptocurrency regulatory framework; the first set was launched last year. The second part of Cryptocurrency Law will focus on stablecoins and regulating cryptocurrency business owners.
- 09:35On Hyperliquid, a whale with 50x leverage on ETH long positions is now floating a profit of over 8 million US dollarsHypurrscan data shows that the whale on Hyperliquid with 50x leverage is still continuously increasing its position in ETH, with a current position reaching 175,100 ETH (approximately $342 million). The average opening price is $1908, liquidation price is $1882, and floating profit is about $8.05 million.
- 09:24All positions with 50x leverage on Hyperliquid have been completely closedAccording to on-chain analyst Aunt Ai, a whale with 50x leverage on Hyperliquid has taken away most of the principal and profits, thereby compressing the liquidation price. The remaining long position of 160,234.18 ETH was "actively liquidated", totaling 306 million US dollars. Currently, 8 million USDC have been withdrawn back to Arbitrum.