DeFI News by Thebittimes.Com

The million-dollar question on everyone’s mind is ‘When will Bitcoin bottom out in price?’ It had hit an all-time high of $108,786 on January 20, 2025, the day Trump took office. Its price began to dip after the trade wars ignited as the President imposed tariffs on Canada, Mexico, and China. Even close allies in Europe were not spared angering countries from the other side of the Atlantic. Source: Coingecko Also Read: AI Predicts Hedera Price If HBAR ETF Is Approved By May 2025? After hitting its ATH of $108,786, Bitcoin lost nearly 25% of its value and is trading at the $82,400 level on Wednesday. It had fallen to the $76,000 range on Monday as the US stock market crashed 890 points. The leading cryptocurrency rebounded in price but investors remain skeptical as the markets are in unfavorable conditions. BTC: When Will Bitcoin Bottom Out? Source: Watcher Guru The former CEO of BitMex, Arthur Hayes predicts that Bitcoin could face further corrections in the charts. H...

Rumors of problems with Ethena ’s $2.5 billion so-called stablecoin USDe have been fueled this week by reports that giant exchange ByBit — where Ethena trades some of its assets — is experiencing financial problems, possibly even insolvency . Some claim that the rumors were attributable to a dashboard error at Arkham while others believed them to be true. Observers noted a small amount of exchange outflows relative to ByBit’s total assets. ByBit itself has since refuted any claims of insolvency. Protos reached out to the exchange for comment but at time of publication has not received a response. Over the last seven days, neither the price of Ethena’s proprietary token ENA nor its stablecoin USDe have declined in price. For its part, Ethena claims to hold all of its collateral off-exchange at third-party custodians like Copper or Cobo. Although it clears trades via crypto exchanges, it claims to hold the collateral backing its positions, including ByBit perpetual futur...

Can Bitcoin Rise To $70000 If Fed Cuts Interest Rates? Macroeconomic analysts are trying to predict when the U.S. Fed will stop raising interest rates or pivot since the central bank continued to hike rates after the bank collapse in March. Meanwhile, the Fed’s balance sheet has decreased amid the debt ceiling crisis. advertisement The U.S. Federal Reserve is likely done with rate hikes as the jobs market cools and the unemployment rate climbed last month. In addition, traders are awaiting the CPI and PPI data this week to confirm the market direction. Arthur Hayes said the reason why Bitcoin failed to reach $70,000 after March is that people focused more on nominal Fed rates and did not compare them to high nominal GDP growth in the US. “It seemed the Fed’s only option was to cut rates, restore the health of the US banking system, and watch Bitcoin quickly march towards $70,000.” Recommended Articles ...

GMX and LOOKS price pulled off double-digit rallies in the last week as former BitMEX CEO Arthur Hayes revealed his investment thesis for both projects. In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills.  Let’s take a brief look at on-chain data and compare GMX and LOOKS to competitors to determine whether Arthur’s assumption will work out.  GMX usage cooling after a strong November The week prior to Nov. 16 provided decentralized Finance (DeFi) with a significant influx in fees after the centralized exchange (CEX) exodus triggered by FTX’s bankruptcy. The temporary high inflows to DeFi propelled GMX to outperform Uniswap in protocol fees. On Nov. 28, GMX earned about $1.15 million in daily trading fees, which surpassed Uniswap’s $1.06...