DeFI News by Thebittimes.Com

After the most recent increase in the federal funds rate, the U.S. Federal Reserve is set to raise the lending rate by 25 basis points (bps) to 5.25% in three days, according to expectations. A recent poll of 105 economists revealed that 94 of them predict a 25bps rate hike will occur during the May 2-3 Federal Open Market Committee (FOMC) meeting. While economists are anticipating a rate hike in May, they anticipate that it will be the final one in 2023. The majority of polled economists believe that the Fed will maintain the rate at 5.25% for the remainder of the year. Report Says Next Phase of the Tightening Cycle Is Holding Benchmark Rate at Current Levels Several reports and surveys indicate that market observers believe the U.S. central bank will increase the benchmark interest rate by 25bps at the FOMC meeting this week. The FOMC meeting is scheduled to take place on May 2-3 and according to the CME Group Fedwatch tool, 83.9% suspect a 25bps rate hike will come to fruition....

Join Our Telegram channel to stay up to date on breaking news coverage AiDoge is a new project with a simple yet cutting-edge concept that allows users to automatically generate memes by using a text prompt. Despite the fact that the project is still in its early stages, it has already caused quite a stir in the industry, with a growing number of investors keeping an eye on AiDoge. AiDoge Presale kickoffs raise $200K on stage one The highly anticipated AiDoge ($AI) cryptocurrency presale has begun. Within the first few minutes of the project’s pre-sale, they had already raised $100k. AiDoge’s pre-sale offers a significant discount, which will appeal to investors. There are a total of twenty stages, and the price of an AI token rises with each level. Investors in stage one will receive a 30% early gain. After the completion of the presale, the Ai token will then be listed on cryptocurrency exchanges, both centralized and decentralized. New Milestone Alert! ...

MicroStrategy Founder and Chairman Michael Saylor recently posted a video of Senator Ted Cruz on Twitter, where Cruz is seen explaining that he is incredibly bullish on Bitcoin (BTC). "I am incredibly bullish on #Bitcoin.” – Senator @TedCruz pic.twitter.com/595jRKSwna — Michael Saylor️ (@saylor) April 27, 2023 The clip, which was recorded during the Senators talk at the Bitcoin Policy summit on Wednesday, April 26, depicted that Cruz was incredibly excited about crypto as a whole. He also said he was particularly bullish on BTC. Cruz was of the opinion that BTC is the alpha in the crypto sphere, both in terms of ranking first and being the most dominant coin. Cruz further described that the analogy of BTC being called as digital gold is powerful and that the insight that led to its creation is still extraordinary. In the video, Cruz was seen establishing his confidence in BTC by stating that he makes personal investments in them. He said that every Mo...

Binance is up over 50,000 BTC in a month, in sharp contrast to other major exchanges, while data suggests the market is going short BTC at $30,000. Bitcoin (BTC) traders may be gearing up for a sell-off as data shows tens of thousands of coins moving to exchanges. The latest figures from on-chain monitoring resource Coinglass confirm that global trading volume leader Binance’s BTC balance rose by over 50,000 BTC ($1.5 billion) in the past 30 days. Binance takes lion's share of exchange BTC balance increase With BTC/USD setting multi-month highs regularly since mid-March, the temptation to sell for both long-term (LTHs) and short-term holders (STHs) has no doubt increased. As Cointelegraph reported, actual selling pressure has thus far remained muted by historical standards, but on-chain data suggests that this could easily change. According to Coinglass, Binance alone now has 51,000 BTC more on its books than 30 days ago. Versus Match 10, when BTC/USD briefly challenged $20,000 su...

Former U.S. Secretary of State Hillary Clinton has warned that the U.S. defaulting on its debt obligations could lead to a global financial meltdown. “If Congress keeps flirting with default, calls for dethroning the dollar as the world’s reserve currency will grow much louder,” she stressed. Hillary Clinton on U.S. Debt Default and Dollar Losing World’s Reserve Currency Status Hillary Clinton, a former first lady and the U.S. Secretary of State from 2009 to 2013, warned in an opinion piece, published by the New York Times Monday, about the disastrous outcomes that could result from the U.S. defaulting on its debt obligations, including the risk of the dollar losing its status as the world’s reserve currency. “The debt ceiling debate is not about authorizing new spending. It’s about Congress paying debts it has already incurred. Refusing to pay would be like skipping out on your mortgage, except with global consequences,” Clinton described, warning: Because of the ...

Join Our Telegram channel to stay up to date on breaking news coverage The XRP community eagerly anticipates a crucial hearing regarding the ongoing action against Ripple Labs. The hearing will address a class certification case that seeks to determine whether Ripple’s token, XRP, is a security. Plaintiff Bradley Sostak is seeking to represent all XRP holders who own or sell the cryptocurrency at a loss. Sostak alleges that Ripple violated federal securities laws by selling XRP without properly registering it and argues that XRP is, in fact, a security. John E. Deaton, a lawyer and cryptocurrency enthusiast, has filed a motion for leave to file an amicus brief on behalf of over 75,000 XRP holders. This motion would allow their voices to be heard in court, but the judge still needs to rule. The XRP community is heeling this case and awaiting the outcome of today’s hearing. #XRPHolders: Plz know that I intend to be on Zoom, but, unlike the @LBRYcom hearing, this Ju...

However, ever since the Ethereum blockchain underwent the Shapella upgrade, the market share of crypto-staking services providers witnesses a major shift. Post the Shapella upgrade, the decentralized finance (DeFi) applications have been the major beneficiaries. advertisement Ahead of the Shapella upgrade, liquid staking protocols such as Lido, Rocket Pool and Frax Ether have been in major demand. These players also allowed the users to hold Ethereum-based derivatives in a slew of DeFi trading, lending and borrowing apps. Post the upgrade, Lido pool has seen major inflows with Flax Ether seeing the biggest jump. Over the last week, the total value locked (TVL) for the Flax Ether protocol jumped y a staggering 20%. On the other hand, Rocket Pool saw a 17% increase while Lido experienced a 13% jump. Henry Elder, head of decentralized finance at Wave Digital Assets said: “It would be people rotating out of centralized exchanges into more decentralized sol...

In the United States, the Federal Reserve and Exchange Commission (SEC) Defi nes the rules for centralized financial institutions, such as banks and brokers, that consumers rely on for direct access to capital and financial services. DeFi challenges this centralized financial system by allowing individuals to use peer-to-peer digital exchanges. advertisement DeFi eliminates the fees that banks and other financial companies charge for using their services. Individuals hold money in a secure digital wallet and can transfer it in minutes, and anyone with an internet connection can use DeFi. Updates of DeFi Chain Tokens: The crypto market had been painting green charts this week, but today the price for big crypto coins has fallen down. Today might not be an enthusiastic day for investors, however, the coins on DeFi chain showed mixed reactions. DeFi token price is neutral at an average, Some coins have got a double-digit pump whereas others have plunged. As of wri...