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During the last week, while crypto markets got hammered, digital currency-centric over-the-counter (OTC) trading desks were swamped with orders. The cryptocurrency OTC trading desk Cumberland, a subsidiary of DRW, explained that on June 13, the firm saw 30% more volume than the previous year-to-date high on May 13. Cumberland Says ‘On Big Swings, More Volume … Read more
A 2018-like bearish cycle could have Ether drop toward $420 in the coming weeks. Go to Source Powered by WPeMatico
BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market. Go to Source Powered by WPeMatico
The billionaire crypto investor admits there are still hard times ahead for most financial markets, but says that as long as the crypto space produces new tech, it will be fine. Go to Source Powered by WPeMatico
The MakerDAO decided to cut off Aave from its direct deposit module as a safeguard in light of the possibility that Celsius folds and crashes the price of stETH. Go to Source Powered by WPeMatico
According to “two people familiar with the matter,” the cryptocurrency lending company Celsius is working with the financial giant Citigroup in order to get advice on how to handle the firm’s financial hardship. The sources note that Citigroup was hired by Celsius to help the company find “potential financing.” Sources Say Celsius Is Looking for … Read more
Reports from different media outlets in the last week also suggested the Celsius Network has lost major backers and onboarded new attorneys amid a volatile crypto market. Go to Source Powered by WPeMatico
BitBoy Crypto founder Ben Armstrong said that Celsius won’t let him withdraw money from the platform without sending more money to it first. Go to Source Powered by WPeMatico
The crypto-lending firm Celsius, which offers high-yield returns on user deposits, appears to be the latest to falter in the face of tightening financial conditions. It also came barely one month after the Terra-Luna stablecoin network collapsed. Background Celsius Network is a blockchain-based lending platform accessible through a free mobile app. Celsius Network is a … Read more
A separate graph also saw USDC and BUSD supply drop sharply in May, however both have since rebounded and are close to being back to their respective all-time high levels. Go to Source Powered by WPeMatico
