Bitcoin tumbles, a stablecoin plunges in wild week in crypto

It’s been a wild week in crypto, even by crypto standards.Bitcoin tumbled, stablecoins were anything but stable and one of the crypto industry's highest-profile companies lost a third of its market value.Here's a look at some major developments in cryptocurrencies this week: BITCOINThe price of bitcoin dropped to around $25,420 this week, its lowest level...

Trader May Have Lost $9M in Exit from USDT

Opportunistic bots may have made off with millions of dollars worth of profits after one trader hastily tried to exit an enormous USDT position.On May 12, Twitter user gzeon flagged that one USDT holder on the Arbitrum network appeared to have incurred a $9.4M loss after hastily trying to convert $15.5M USDT for USDC via Curve’s deployment...

Cardano’s ADA Jumps 40% to Lead Recovery in Major Cryptos; Sentiment Remains in ‘Extreme Fear’

Cardano’s ADA jumped as much as 40%, leading gains among the biggest cryptocurrencies. BNB Chain’s BNB spiked 30%, Solana’s SOL added 25%, and XRP added 22% during the Asian morning. The recovery came as bitcoin (BTC) and ether (ETH), the two largest, added over 12% each. Most of the largest cryptocurrencies rose at least 25%, with...

Bitcoin news today: Crypto prices collapse with Tether latest ‘stablecoin’ to suffer

Related: Is it Time to Buy the Dip? Bitcoin is teetering on the precipice of an abyss, according to some crypto market analysts, with its price hitting its lowest level since July 2021.The cryptocurrency has lost more than 50 per cent of its value over the last six months amid a market-wide downturn that has wiped...

Lido Increases Liquidity Incentives as stETH Trades at Discount to ETH

UST’s collapse continues to reverberate around crypto markets. Curve’s largest pool is out of whack — the stETH pool, which pairs ETH with stETH, a staking derivative of ETH, shows stETH trading at a 2% discount to ETH. The imbalance may indicate that investors are dumping illiquid assets, such as a derivative of ETH locked in Ethereum’s proof-of-stake...

Blue Studios, Unstoppable Domains Roll Out Family Crypto Wallets

However, Wallio differs in that it aims to prioritize education on digital assets. Blue Studios will implement its play-to-earn and learn-to-earn technologies, where families can play games and complete modules to earn ether (ETH). According to the website, 3 ETH have been rewarded so far.

Ethereum Killers’ Breakthroughs Can’t Save Them From Crypto Crash

The would-be Ethereum killers are getting killed.Layer 1 networks captured the imagination of investors during the latter half of 2021. They were humorously dubbed Ethereum killers because they aimed to be faster, cheaper, and more efficient than the mother network.Thanks to their efficacy, users and investors piled in, sending the likes of Solana, Fantom, and Avalanche...

Shapeshifting Azuki Founder Outfoxes Himself with Strange Confession

“I fucked up,” said Azuki founder @Zagabond.  The market agreed.On Monday, Azuki, an Anime-themed NFT collection of avatars, was at 23 ETH, ($58,558). Now it sits at a floor of 8 ETH, a 68% fall.The cause? A strange confession from its founder that revealed how he used fake identities to promote past NFT collections, and rake...

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