DeFI News by Thebittimes.Com

Join Our Telegram channel to stay up to date on breaking news coverage Now at $20,209, the price of bitcoin has dropped back to levels last seen before the 2017 rally,   Charles Edwards, the CEO of Capriole, an asset management company, created the Bitcoin Yardstick and has observed that it has just hit its second-lowest level ever. Experts Take On Bitcoins Dip Bitcoin is much more oversold than the typical holder realizes, according to a new contender, as on-chain measures combine to put in a conventional macro bottom for BTC/USD. The Bitcoin Yardstick compares the market capitalization of all Bitcoins to the total number of blocks mined every second. According to Edwards, the lower the price of Bitcoin, the more hash power is being utilized to protect the transaction. This is not investment advice, but it does have ramifications for potential purchasers because most of Bitcoin’s unrealized worth is in the effort put in to secure the supply while prices were art...

Dogecoin price is exchanging hands at $0.1198 after losing 8% of its value over the last 24 hours. This $16 billion meme coin grew by over 100% in the past week amid an Elon Musk-triggered rally. Dogecoin proponents backed the rally in droves, compelling bullish forecasts to $1. However, DOGE started giving up some of its gains before the $0.15 level. It now appears to be sitting on top of robust support, slightly above $0.1100. Overhead pressure will increase if holders choose to lock in the gains, but if this support holds, the Dogecoin price could quickly resume its uptrend. Is Dogecoin the Best Cryptocurrency to Short The entire cryptocurrency market is turning its attention to the upcoming Federal Reserve meeting, scheduled to take place on November 2. Market participants expect the regulator to continue tightening its grip on interest rates as it combats inflation. A 0.75% rate hike or, if you like, 75 basis points will likely mount more pressure on riskier as...

Join Our Telegram channel to stay up to date on breaking news coverage Cryptocurrencies such as SolarCoin have been able to steal the limelight in the crypto ecosystem for all the right reasons. When SolarCoin launched in 2014, cryptocurrencies were still gaining traction and weren’t considered a mainstream discussion topic. Although, for its time, the initiative by SolarCoin was quite interesting. It wanted to reward users for installing solar panels. This meant promoting solar energy while distributing their cryptocurrency. However, a lack of awareness, and not much activity, there has been a sense of ambiguity and mystery around SolarCoin’s status and its future too. It even is mentioned as an ‘Untracked Listing’ on CoinMarketCap, raising more questions. So, where is SolarCoin headed? Is it dead? Moreover, do coins like IMPT stand a chance in replacing SolarCoin as the next big green crypto? Let us find the answers to all these questions. What is S...

A brand new eco friendly crypto called IMPT has now raised $11m for its platform, in the mission of redefining the market of carbon credits for the better.  Making carbon credits more transparent  The carbon credits markets are notoriously difficult to navigate and extremely opaque. This means that it is very difficult for them to be easily traded, which opens the door for large market inefficiencies.  Blockchain means that NFTs can be traded in a seamless manner 24/7, without relying on counterparties in order to facilitate the trades themselves, since smart contracts can do this.  Not only does this make the entire process more efficient, but it also means that it is more transparent.  When one shops through the IMPT shopping platform with ESG friendly brands (of which more than 25,000 have now onboarded via the IMPT affiliate programme), they are rewarded for cash back in IMPT tokens.  The level of cash back will vary from brand to...

The crypto market had a sideways day with the total market cap registering at the same level as the previous 24 hours and the largest coins in the market barely moving one way or the other. However, some coins have shown a bit more life on October 20. IMPT The new eco-friendly crypto project passed a landmark $6 million in investment, just two weeks after phase 1 of its presale was launched. The project, which will make carbon credits fully tradeable for individuals and businesses, is currently racing through its presale to much excitement in the space. Tokens are on sale for $0.018 but by the final presale phase, they will cost $0.028 - a 55% increase. IMPT is offering shoppers the chance to earn IMPT tokens which can then be converted to carbon credits. Carbon credits act as a way for companies to offset their carbon footprints, by funding global conservation projects. Visit IMPT Presale AAVE The DeFi protocol is down 3% in 24hrs but may represent a good oppor...

The crypto markets are in the red again, with the total market cap down more than 1% and trading volume shrinking in the last 24hrs. Many of the top coins in the space are also down over the last seven days, although there are some notable exceptions that are performing well. Solana (SOL) Solana has followed a bearish trend in recent days and weeks but the native SOL token could now be about to turn. SOL dipped below $30 for the first time since June following the release of US Consumer Price Index data and despite a mini-recovery earlier in the week is still currently struggling to break out. The Mango Market Hack - which saw $100 million stolen - also affected the price, with the dApp built on the Solana blockchain. The hack saw 30$ of Solana's Total Value Locked (TVL) wiped instantly. Top SOL NFT marketplace Magic Eden also saw customers and creators leave after revealing they would make royalties optional. However, TradingView trader Maikisch has offered so...

Join Our Telegram channel to stay up to date on breaking news coverage Since achieving its ATH in September 2021, Cardano has been on a consistent downward trend. Many investors mistakenly feel that the price of cryptocurrencies has reached a bottom when, in fact, they often continue to fall. How low might the price of Cardano go if it tried? The Future of Cardano and Its Price The end of 2020 was a great time to buy Cardano (ADA) for investors since ADA began 2021 with a massive bull run. This price increase to $3.09 is almost 2,000% for proof of stake cryptocurrency. In the following months, prices fell precipitously along with the rest of the world markets, with ADA losing 87% of its value. Finally, in March 2022, the coin looked to have broken out of a downward trend, suggesting a possible turnaround. However, ADA maintained its downward trajectory, making the March 2022 rally a false signal. Currently, the $0.39 price level is providing excellent support for Cardano. A...