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Topics - Churphans

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1
Chinese crypto and blockchain journalist Colin Wu just exclusively reported that the biggest crypto exchange Huobi has restricted the size of leverage it provides to its current users.
It has also stopped news users in China from trading crypto derivatives.
The size of leverage that traders enjoyed previously totalled 125x maximum. Now, Huobi allows only 5x leverage.
The reason for that, Wu writes, is the concern of the exchange management team about the current crypto regulatory policy in China.source

2
The emergence of new projects is usually preplanned with potential target markets in mind. While Africa is often seen as an untapped market, China is arguably the right region for massive scaling.
The evolution of trading platforms has taken the digital currency ecosystem to a whole new level. This has stirred broad crypto-economics around the multitude of tokens out there. Today, innovations become enshrined as the new normal in the crypto ecosystem. Based on this, decentralized exchanges are beginning to rub shoulders with their centralized counterparts. This competition is most obvious for featuring projects with unique fundamentals.
Amongst the decentralized exchanges around, PancakeSwap has made headlines in recent times for good reasons. The transaction volume has been above the industry average. This growth can be attributed to the types of projects that get listed on the Binance Smart Chain (BSC). These projects flaunt unique DeFi-focused offerings that grant better control to retail investors. This article profiles four unique projects billed to be launched on the Binance-backed Automated Market Maker (AMM), PancakeSwap.source

3
El Salvador’s adoption of Bitcoin as legal tender has compelled analysts on Wall Street to re-evaluate their positions on the currency’s future. Once considered a niche asset, the digital currency is now under review in several countries, some of which are designing legal frameworks to regulate its movement. Many are wondering if this sea change in official attitudes can help Bitcoin replace fiat currencies like the dependable dollar.
Can Bitcoin Replace Fiat Currencies Like Dollar
In the recent past, several corporate giants have openly embraced Bitcoin by featuring it in their investment portfolios. The likes of Tesla, MicroStrategy, and Square have led the corporate crypto revolution, by parking their assets and offering transaction services to customers in the virtual currency. Some have also taken it upon themselves to ensure a greener future for the industry by reducing its energy consumption.source

4
Bitcoin has held critical support after a move to the downside on Friday and trades at $37,539. A good old weekend pump has brought it back from the mid-zone of the $30,000 range and now it might make a push towards $38,000.In the short term, reclaiming the $40,000 area seems like the most bullish scenario, but if the price action has had something in common during these past weeks, it’s the lack of volume.
Kevin Kelly, Co-founder and Head of Global Macroeconomics at Delphi Digital published a report on the potential scenarios for Bitcoin. The analyst said that leveraged positions signaled a major correction was due.source

5
Tesla CEO Elon Musk has tweeted that the e-car manufacturer will resume Bitcoin payments when the cryptocurrency’s clean energy usage reaches the 50 percent threshold:

When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. addition, Musk denied pumping and dumping Bitcoin, describing the accusations recently made by Sygnia CEO Magda Wierzycka as “inaccurate.”     
The centibillionaire has once again confirmed that Tesla only sold 10 percent of its holdings in late April in order to test the cryptocurrency’s liquidity without moving its price. 
Tesla suspended Bitcoin payments due to the adverse environmental impact of mining on May 12, triggering a sharp market correction.source

6
Solana Labs raised $314 million in a private token sale, making it the fourth-highest fundraising in the crypto ecosystem. The private funding round was led by Andreessen Horowitz and Polychain Capital, with participation from Alameda Research, Blockchange Ventures, and CMS Holdings.Solana blockchain is often compared against Ethereum blockchain because of its smart contract usage and matching functionalities and is quite popular for its dApp ecosystem that was popularised by Ethereum blockchain. At present Ethereum can process about 15 transactions per second while Solana can process 1,000 transactions every second. Ethereum currently works on Proof of work and will be moving to Proof of Stake in two years.source

7
Coinbase is looking to draw in big traders in the foreign exchange world through an expansion of its stablecoin services.
In an announcement that went relatively unnoticed, Coinbase said it updated pricing for nine stablecoin pairs. The update allows users of its Coinbase Pro platform to trade pairs — such as DAI-USD and USDT-GBP — at no cost if they are adding liquidity and at one basis point if they are taking liquidity.
The exchange expects to add more pairs in the future. Previously traders were charged 50 basis points to make and take liquidity in stable pairs.
Still, the move reflects a broader strategy shift by Coinbase to capitalize on the explosion of the stablecoin market. It could also help Coinbase break into the FX market, which saw more than $6.6 trillion in daily volumes in 2019.
It makes sense given the state of the market. The share of traded volume denominated by stablecoin USDT, the largest in the market, hit nearly 67%, up from 6.8% in June 2017.source

8
Bitcoin, the largest cryptocurrency by market cap, plunged to an intraday low of $32,418 at 2:52 a.m. UTC on the Bitstamp exchange.
The flagship coin is struggling to recover after posting its third-biggest monthly loss ever in May.
The most recent drop came after U.S. investigators seized $2.3 million in Bitcoin paid to the Colonial Pipeline hackers, which made some question the cryptocurrency’s technology.
Justin Wolfers, a professor of economics and public policy at the University of Michigan, writes that the news has further reduced the number of Bitcoin’s use .source

9
The latest rally in BTC shorts is similar to what appeared ahead of the Elon Musk-led May 19 market crash.Bitcoin (BTC) bulls should brace for a potential onslaught from bears as the number of margined short positions on Bitfinex jumps by a little over 378%
Known to most by the ticker BTCUSD Shorts, the dataset records the number of bearish positions in the Bitcoin market. In simple terms, traders borrow funds from Bitfinex — their broker — to trade bet on bearish outcomes for the instrument BTC/USD. Meanwhile, the value of opened short positions is measured in BTC.source

10
Major decentralized exchange Uniswap (UNI) has been put to another test, as the crypto industry is waiting how the platform will react to its copy that has appeared on the Binance Smart Chain (BSC).
"Holaswap is 100% fork of Uniswap V3 on BSC that's 100% community owned and governed," the new player said.
According to the project, it has USD 10,990 total value locked (TVL) as of 7:43 UTC on Monday, with a 24h volume of USD 1,400.
Uniswap v3, or the third version, has been deployed to the Ethereum mainnet on May 5. The team behind the project stressed that "Uniswap v3 Core will launch under the Business Source License 1.1—effectively a time-delayed GPL-2.0-or-later license. The license limits use of the v3 source code in a commercial or production setting for up to two years, at which point it will convert to a GPL [General Public License] license into perpetuity."source

11
Dogecoin Forum / Who Is Greg, Dogecoin’s Latest “Fake” CEO?
« on: June 03, 2021, 11:57:17 PM »
The Dogecoin community has spawned a new meme by promoting Greg to a non-existent role. May 31, Dogecoin co-creator Billy Markus noticed an article erroneously stating that he was the CEO of Dogecoin. Markus was likely referring to an article from Tech Times published on the same day. Not only is Markus not the CEO of Dogecoin, he has not been involved in the project since 2015 and he holds no Dogecoin apart from small tips that he has received.read

12
Decentralized finance (defi) exchanges and tokens are recovering a lot faster than a great number of digital assets that lost more than 40% in value last week. Defi tokens like curve, kyber network, terra, hxro, and more have been seeing double-digit gains. On May 23, the defi economy’s aggregate total-value locked (TVL) dropped to a low of around $50 billion and has since gained $17.4 billion.source

13
Ethereum has seen some recovery in the past days, after the crypto market experienced one of its worst months since March 2020. At the time of writing, the second cryptocurrency by market cap trades at $2,823. A recent report published by Bloomberg Intelligence’s Senior Commodity Strategist, Mike McGlone, claims that ETH is on a “higher-beta bull market path”. McGlone believes ETH could take a similar path to Bitcoin in 2017 when this cryptocurrency when from around $1,000 to $20,000.source

14
Crypto Exchanges / Crypto exchange FTX launches NFT marketplace
« on: June 03, 2021, 07:42:45 PM »
Crypto exchange FTX has launched a marketplace for trading non-fungible tokens (NFTs).
A number of NFTs are already listed on the marketplace, which is hosted on both the main FTX exchange and the FTX.US exchange websites.
NFTs are unique digital tokens tied to digital content. They are based on blockchain technology, which proves their authenticity and ownership.

15
Billionaire Mark Cuban has joined a choir of critics of the U.S. Securities and Exchange Commission (SEC) in his recent tweet. The "Shark Tank" host has slammed former SEC attorney John Reed Stark for having "absolutely no understanding of crypto."
Cuban says that crypto will continue to positively impact businesses more than the regulator.
Earlier today, Stark said that neither Bitcoin nor any other crypto had any utility.information

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