BLOCKCHAIN

South Korean prosecutors ban Terra employees from exiting the country: report

[ad_1] Terra (LUNA) employees are reportedly unable to leave South Korea as the country's prosecutors imposed a departure ban on key developers of the project.Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor's Office has imposed a travel ban on key team members of Terraform Labs. The prosecutors imposed the ban to eliminate the possibility that key officials within the company may go
Business

Ethereum analyst warns of ‘clean fakeout’ despite 30% ETH price rebound

[ad_1] Ethereum's native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18.ETH price regains 30% in two daysEther's price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this June 20, the ETH/USD pair hinted at giving up its weekend gains, with its price plunging
BLOCKCHAIN

What Ethereum use case can make ETH a $500B market cap asset: Community answers

[ad_1] While Ether's (ETH) price dip over the weekend may have left investors worried about the digital asset, community members on Reddit conducted a discussion on Ethereum use cases that could potentially push the asset's price upward. In the Ethereum subreddit, a Reddit user asked fellow members of the community about ETH use cases that they think are capable of pushing the asset’s market capitalization to $500 billion. Criticizing smart contract
Business

Bitcoin mints more than 13,000 ‘wholecoiners’ in the past seven days

[ad_1] Bye-bye bear market blues; welcome to the network, Bitcoin (BTC) believers. Over the past week, the number of Bitcoin wallet addresses containing one BTC or more increased by 13,091. The total number of “wholecoiners” surged to 865,254.The number of whole coiners has rocketed during the downward price action, highlighted by the hockey stick growth on the Glassnode graph: Since the 10th June the orange line has jumped. Source: GlassnodeChristian
Business

Bancor pauses impairment loss protection citing ‘hostile’ market conditions

[ad_1] Bancor, a decentralized finance protocol often credited as the pioneer of the DeFi space, paused its impairment loss protection (ILP) function on Sunday, citing “hostile” market conditions.In a blog post on Monday, the DeFi protocol noted that the ILP pause is a temporary measure to protect the protocol and the users. The blog post read:“The temporary measure to pause IL protection should give the protocol some room to breathe and
Business

Crypto lending can still survive bear market, analyst says

[ad_1] The ongoing bear market on cryptocurrency markets is too harmful to industry lenders but the concept of crypto lending can still survive the bloodbath, according to some industry experts.Cryptocurrency lending is a type of crypto services allowing borrowers to use their crypto assets as collateral to get loans in fiat currencies like the U.S. dollar or stablecoins like Tether (USDT). The practice allows users to get money without having
ALTCOIN

Synthetix racks up over $1M in daily fees as SNX token value surges 100%

[ad_1] Layer-2 scaling solution Synthetix recently collaborated with liquidity provider Curve Finance to create Curve pools for sETH/ETH, sBTC/BTC, & sUSD/3CRV, allowing investors to cheaply convert synths such as sETH to Ether (ETH). Given the investors’ willingness to hold tokens instead of synths, the protocol racked up over $1.02 million in trading fees — overshadowing Bitcoin’s (BTC) daily performance by five times.Synthetix, Ethereum-based decentralized finance (DeFi) protocol, created a buzz