Weekly Crypto #197 – Bitcoin and Cryptocurrency News of the Week
Briefly about the week of 06/20 – News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily flow of information and you miss important points. This format is here to fix that. We come back tonews from the past week‘Crypto Weekly to inform you about the current situation with cryptocurrencies.
Crypto news in a nutshell
▶ A merger is fast approaching on Ethereum. Therefore, the Sepolia testnet will be the next to experiment with the transition to proof of stake. On this occasion, the developers have recently set up a beacon chain dedicated to Sepolia.
▶ Elon Musk continues to support Dogecoin. At least he announced it on Twitter, which led to the usual rise in the price of the token in the hours that followed.
▶ Cristiano Ronaldo moves to NFT. The famous soccer player has reached an agreement with the giant Binance to launch a series of NFTs with the player’s image.
▶ Binance Sheds Derivatives in France. So, in order to better comply with the regulations regarding PSAN status, the company had no choice but to reduce its future services as well as capabilities.
▶ Decentralized exchange dYdX could migrate to Cosmos. The developers have announced that they are working on migrating dYdX to their own chain based on the Cosmos SDK.
▶ The Bancor protocol disables its protection against volatile loss. Faced with the vagaries of the market, the protocol had no choice but to deactivate its functionality for fear of being misused.
▶ This Grand Angle Crypto interview with Anice Lajnef is impossible to miss. Three hours of the most interesting debates.
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6 metrics of the week
➤ 250 million dollarsIT IS the amount that FTX lent to BlockFi. Indeed, it is facing significant cash flow problems, following the consequent price drop in the cryptocurrency market.
➤ 5IT IS the number of platforms on which Three Arrow Capital was liquidated. So the mutual fund had a lot of leveraged positions that ended up underwater after the high volatility of cryptocurrencies.
➤ 100 million dollarsIT IS the amount that was stolen by the Horizon Bridge hack. This bridge connects the Harmony blockchain to the Ethereum or BNB smart chain.
➤ 100 million dollarsIT IS the amount of impressive liquidation that could happen on the Solend protocol. Indeed, after the collapse of SOL, the $100 million loan position was at risk. Fortunately, the situation was resolved and a cascade of liquidations was avoided.
➤ 1,000 dollarsIT IS Solana Saga smartphone price released by Solana Labs. Thus, the company presented a smartphone dedicated to the Web3 ecosystem. This should be released in the first quarter of 2023.
➤ 118IT IS the number of mining farms that could lose power in Iran. The order for this power cut would come directly from the local government.
Tweet of the week
Tweet of the week goes to colleague @B3njj92 and his great thread that comes back to the fateful question: at what price to buy Bitcoin?
Have a great week at Journal du Coin! 🙂
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