DeFI News by Thebittimes.Com

RootData, a provider of visual and structured data on companies in the digital finance industry, has published a list of deceased crypto projects that failed to make it through 2023. The biggest names to make the list were Prime Trust, Yield Protocol, Wyre, Multichain and Clockwork. In total, the RootData list included 116 crypto projects that announced their closure or bankruptcy in 2023 and had inactive Internet resources for a long time. RootData analysts note: in total, the funds previously allocated for creating and financing “dead projects of 2023” exceeded $940 million. The most difficult period and the peak of the most high-profile fiascoes was the second half of 2023. At the end of June, amid the consequences of the crypto winter and Bolt Financial’s refusal to purchase, the Wyre payment platform closed. In July, after the arrest of its founder and a series of hacks, Multichain went bankrupt. You might also like: SafeMoon seeks bankruptcy amid arrests and SE...

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...