Celsius accused of running “Ponzi Scheme” by Former Employee | Curated CoinCodeCap #8 July 2022
Crypto Regulation, DAO Wars, DeFi Sagas, Bitcoin Supremacy, and Digital Avatars, all here with market updates and a meme.
While Bitcoin paves the path for crypto mass adoption, Ethereum becomes the sword of Keyboard warriors. Here’s what happened to the market yesterday:
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Celsius accused of running “Ponzi Scheme” by Former Employee
Leading crypto lender Celsius Network faces allegations of using customer deposits to rig the price of its own crypto token(CEL) and for losing hundreds of millions of dollars by failing to hedge risk properly. The accusations come in the backdrop of Celsius suspending withdrawals and transfers for its 1.7 million customers, citing “extreme” market conditions. Keep Reading »
Celsius Network Repays Bitcoin Loan Entirely, Liquidation Price at $0
The battered Celsius Network is slowly showing signs of recovery. The crypto lending platform has completely paid off its entire bitcoin loan, freeing Up $456 million collateral and dropping the liquidation price to $0. Keep Reading »
Aave Proposes Developing a Stablecoin called GHO
The Aave community has issued a Request for Comments (ARC) proposition to establish on Ethereum mainnet a native decentralised, collateral-backed stablecoin, $GHO, pegged to the US dollar. Keep Reading »
Reddit is Launching a new NFT Avatar Marketplace
On its brand-new NFT avatar marketplace, which launched today, Reddit is introducing what it calls “collectible avatars,” enabling users to buy blockchain-based profile photos for usage both on and off the platform. Redditors now have the ability to make, trade, and buy “limited edition” avatars that feature various renditions of the site’s mascot, Snoo, according to a new “blockchain-backed” feature that the social network unveiled on Thursday. Keep Reading »
CoinCodeCap’s Weekly Issue #12
Amidst the chaos, Coinbase declares that it will be unifying the USD and USDC order books, raising suspicion that the company might be running out of USD. It has been cited that this step has been taken to provide a seamless trading experience and deeper liquidity for both USD and USDC. However, we are anticipating that Coinbase is doing so to create a slippage in the market. There is a possibility that the order rate for USD is on rising and the firm does not have enough holdings. Keep Reading »
Market Updates
MKR Price Analysis July 2022
MKR is a token of platform Maker. Its current price is around $1002 by the time of writing, with a low of $663, and it has a market cap of 979 million dollars. Keep Reading »
EOS Price Analysis July 2022
EOS is a coin of the platform EOSIO. Its current price is around $1.02 by the time of writing this article, with a low of $0.82, and has a market cap of 1 billion dollars. Keep Reading »
EGLD Price Analysis July 2022
EGLD is a coin of platform Elrond. Its current price is around $53.4 by the time of writing, with a low of $38, and has a market cap of 1.2 billion dollars. Keep Reading »
AXS Price Analysis July 2022
AXS is a token of the platform Axie Infinity. Its current price is around $14.73 by the time of writing, with a low of $10.48, and has a market cap of 1.2 billion dollars. Keep Reading »
Crypto to Look Out for this Week: BTC, ETH, BSV, ICX, NEO
The price of cryptocurrencies has dropped by 60% in the last few months. This has made it hard to deny that we are in a bear market. The prices for smaller assets such as ZCash also decreased by over 80%, and other significant drops were noted across the board. Keep Reading »
Top 3 Metaverse Crypto to Look Out for in June 2022: ONT, APE, MANA
ONT is the cryptocurrency of Ontology, a distributed ledger technology that uses consensus protocols and verifiable rules to ensure security & integrity. The price of Ontology will most likely increase in the future and is expected to be a good investment. ONT is built on the Ontology Blockchain. It is a high-speed, low-cost public chain that provides decentralized identity and data solutions to other chains in Web3. Keep Reading »
Crypto Gambling Coins to Look Out for This Week
Crypto gambling has exploded in recent years as more and more people around the world are continuing to take advantage of the many benefits that can be enjoyed when virtual currency is used. Keep Reading »
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