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THORChain, the decentralized liquidity protocol that allows for cross-chain swaps, is at a crucial juncture. After a spate of recent misfortunes, the cryptocurrency community is questioning the protocol’s future and—by extension—a future for cross-chain swaps. The protocol has amassed a $200M debt, and its token, $RUNE, is in freefall. Meanwhile, the “ecosystem” as a whole … Read more
The past week for Solana was quite eventful, with sharp price swings, a rise in meme coins, and a surge in app revenue that sent SOL—and some of its ecosystem partners—skyrocketing. All that said, even within Solana, certain sectors are struggling. The volumes for decentralized exchanges (DEXs) on Solana are down, and the $CAR meme … Read more
Rolling back to a year low during recent breakdown, Pol located a solid ground and bounced back with a long-wick. It currently sits well above a key level while trading flat, deciding where next to head. The aftermath of the recent crash is still causing a lot of FUD among Pol traders as they appear … Read more
In the world of AI-centric cryptocurrencies, a recent on-chain report shows that the so-called smart money has been making some pretty good moves. For some unexplained reason, over the past week, there has been a veritable buying binge on Ai16z (Eliza) tokens. This is, of course, against the backdrop of market volatility, mixed performances from … Read more
In an unprecedented and unexpected twist, Elon Musk just recently switched up his social media name on platform X (formerly Twitter) to “Harry Bōlz,” and the effect was instantly felt across the crypto space. Musk’s profile update seemed pretty harmless but had an enormous ripple effect on this meme coin that was already on the … Read more
Chun Wang, a principal player in the cryptocurrency mining and staking industry, and a co-founder of major blockchain infrastructure companies F2Pool and Stakefish, has further cut his position in Lido DAO (LDO). Wang sold 500,000 LDO tokens for 807,412 USDT at an average price of $1.615. This recent sale is part of a larger ongoing … Read more
FTX and its affiliate Alameda Research have done it again: another monthly redemption and transfer of a sizeable chunk of Solana (SOL) tokens. In the most recent episode, they redeemed 184,162 SOL—worth approximately $37.73 million—from FTX’s pledged assets. They then sent it out across 23 different addresses.These redemptions are part of a series of regular … Read more
A DeFi project named WLFI, backed by the Trump family, has undertaken some aggressive moves in the cryptocurrency space. In what can only be described as a strange twist in the world of politically motivated cryptocurrency projects, WLFI is making waves in the crypto space by spending the equivalent of $308.7 million buying up a … Read more
The $LAYER token airdrop project, which is associated with Binance’s HODLer initiative, has potentially been linked to the market-making firm Wintermute. If true, this would obviously be a very big story for both the Solayer team behind the $LAYER token and for Wintermute. But for the rest of us, it raises two very big questions. … Read more
Chainlink’s Link appears weak today following another daily reduction. It looks set to break lower amid bearish but there’s currently not enough supply to set the stage for another drag down. Link posted a minor gain this week following a buy from the $17.5 level during last weekend’s trading. This buy didn’t last long as … Read more