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Reef(REEF)

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$0.004317
(-3.14%)
0.00000019 BTC
Market Cap (Rank#273)
$85,746,940
3,715 BTC
Vol 24h
$6,193,777
268.341 BTC
Circulating Supply
19,860,470,749
Max Supply
?
36 days agocryptodaily
Ethereum Gas Fees Drop To Record Low As Market Downturn Continues
Ethereum’s gas fees have plummeted, hitting a 20-month low as the market downturn saw a sharp decline in user activity. The market slump has resulted in a significant reduction in network congestion, although the demand for block space remains high. The average transaction fee on Ethereum is just over $2. Gas Fee In Freefall Ethereum saw gas fees drop to as low as 69 cents on Saturday. This has been the lowest gas fee in 19 months as the market downturn has a visible effect on costs. The prices pushed back up the following day, rising to $1.57 or 0.0015 ETH. This price level was last seen in December 2020. The decline can be attributed to a fall in the price of ETH and a drop in network activity. Data from Etherscan shows that the average fee to make a transaction on Ethereum is currently 21 Gwei, which is equal to 0.0021 ETH. ETH is currently trading at around $1100, which comes up to around $2.31. High Gas Fees In 2021 Gas fees on Ethereum had skyrocketed to record highs in 2021, with the price of ETH surging during the crypto market rally. This was compounded by a surge in interest around NFTs, which saw a majority of NFTs and NFT collections traded on the Ethereum blockchain. At the height of its popularity, minting a single NFT set users back by hundreds of dollars, with more complex transactions costing even higher as the network struggled to deal with increased congestion. This led to several competing blockchains gaining prominence, including the likes of Avalanche, Solana, and the ill-fated Terra blockchain. These blockchains offered significantly lower fees to users, which led to a massive influx of users. A Steady Decline However, since the market’s peak, there has been a steady decline in gas fees. Since the market peak in 2021, ETH has lost around 77% of its dollar value. This has led to the dollar cost per transaction also falling significantly. The last time gas fees on Ethereum made their way below the $2.50 mark was in November 2020. At this time, ETH was trading around $500. Etherscan data shows that there has been a decline in the average number of daily transactions as well. The rising adoption of Layer-2 solutions such as Optimism and Arbitrum have also helped in easing congestion on the Ethereum network. Both Layer-2 solutions have a collective total value locked (TVL) of around $2.7 billion. However, the network has consistently managed to process 1 million transactions over the past two years. This suggests that demand for block space remains significantly high, regardless of prevailing marketing conditions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
40 days agocryptopotato
Crypto Market Deleveraging Might Soon End, JPMorgan Argues
After the weeks-long freefall in the crypto market, the bottom may be near, suggested JPM's strategists.
41 day agocoindesk
Deutsche Bank: Crypto Freefall Could Continue Because of the System’s Complexity
As bitcoin and other cryptocurrencies are speculative, high-risk assets, they are disproportionately affected by central bank tightening, the bank said.
44 days agocryptodaily
The Key to Crypto Success: Be Lazy and Do Less
The cryptomarkets are volatile beasts at the best of times. In recent months they have been in volatility overdrive, with one bloodbath following another as basically every token with any utility crashed and burned. Those who bought in at the height of crypto’s astonishing bull run in 2021 - and there were many - have been absolutely REKT by the disaster that followed. While Bitcoin is currently down about 70% from its November all-time high of $69,044, altcoins have fared even worse, with the likes of SOL down 85% and AVAX crashing by an incredible 93% in the last few months. Some have tried to trade their way out of trouble, but even the best traders can get REKT. Smarter traders operate on the idea that every good trade helps them to survive a couple of bad ones, but when the market is in freefall it becomes tough no matter what you do. Add to that, trading is a labor-intensive occupation that’s far too absorbing to be just a side hustle. Once you get started, it becomes incredibly consuming, with every waking moment spent watching the charts, news and trends in an attempt to second-guess what will happen next. So what to do in a bear market as depressing as this one? Try as we might, it’s almost impossible to do nothing at all, and all the more so when your portfolio’s value evaporates to nothing before your eyes. Luckily for crypto fans this is a unique space that always presents opportunities to eke out a profit, no matter what the market conditions are. Even better yet, there are ways to do so that don’t involve spending countless sleepless nights watching the market crumble away to hell. Here are five of the laziest yet most profitable ways to make it big in crypto. Staking First up is taking, which is something that can only be done on a proof-of-stake blockchain. PoS, as it’s known, provides a way for network users to participate in the validation of new transactions to the blockchain and earn rewards for doing so. Staking is perhaps the simplest way to earn money from crypto because unlike miners on proof-of-work blockchains, there’s no need to invest in tons of expensive hardware. All that’s needed is to deposit tokens on a platform that supports staking. The rewards will be determined by the amount of coins staked, though bear in mind that they are paid out in the same native token, whose value constantly fluctuates. So, if the price of the token drops, so does the value of the rewards. Some of the best blockchains for direct staking include Coinbase, Crypto.com, Binance, eToro, Kraken and Gemini. The way staking works is that, the more tokens staked the higher the rewards will be. The exact mechanism for choosing a validator varies from network to network, but in most cases it's a randomized process that gives greater weight to those who stake more tokens. The average rewards vary from token to token, but as an indication most platforms that support Ethereum staking will pay out an APY of 6%. From the lazy investor’s point of view, the most important thing to remember is that the more coins you stake, the higher your rewards can be. Providing Liquidity Also known as yield farming, this involves depositing coins into liquidity pools on decentralized exchanges. DEXs, as they’re known, incentivize users to deposit tokens into their liquidity pools so that traders have the liquidity required to make seamless, instantaneous swaps on their platforms. This is unlike centralized exchanges, which rely on order books to pair the various buy and sell orders they receive. LPs can then receive a portion of the transaction fees generated by each pool as a reward for locking up their assets and providing this liquidity. Liquidity pools are created using smart contracts that self-execute and often require that users agree to lock their tokens in the pool for a specified amount of time. This can be risky because you never know what will happen to that token’s price during that time, but the rewards are among the highest of all in terms of passive income, with some platforms offering an APY of 30% on the best known tokens. Providing liquidity isn’t without risk though. Because most liquidity pools are dual-asset pools, participants are usually required to deposit both tokens in a pair. This puts them at risk of impermanent loss, which is a unique risk that refers to the value fluctuations of those two assets. Impermanent loss occurs when funds are deposited into an Automated Market Maker and then withdrawn at some later date. In some cases, the price movements might mean the LP has lost more money than they’d have made simply from hodling those tokens. Luckily, there are a number of DeFi protocols trying to address this risk. Balancer has created a unique approach to liquidity that makes it possible to provide liquidity to Ethereum trading pairs without exposure to the price of ETH. So they can earn passive income on the trading fees of assets such as MKR or ZRX, without any risk of impermanent loss. Users simply earn rewards from the trading fees involved in those asset swaps. Further, it provides higher returns on low demand assets by leveraging arbitrage opportunities and the desire to mitigate slippage. Lending Another opportunity to make money in crypto is with lending, the concept of which is fairly self explanatory. Lenders can earn a profit by putting their funds into a pool that other users can borrow against. There are multiple platforms that facilitate crypto lending, with some of the most popular ones being Aave, Compound and Nexo. What’s great about this model is that borrowers are still vetted by third parties and they are often required to deposit some kind of collateral, usually another kind of crypto token. What’s more, by depositing tokens into a pool with other user’s funds, the risk of a borrower defaulting on a loan is spread across multiple users. In the case of Nexo, the exact level of interest paid out depends on the token. It supports 32 tokens at present, with the highest interest generally being paid to those who loan stablecoins, as they are often the most in-demand. What’s good about Nexo is the options users have - they can either earn interest paid out in the same token they deposited, earning ETH on the ETH they deposit, for example, or earning interest in the platform’s NEXO token, which provides an additional 2% as an incentive. Another factor that affects the APY Nexo users can earn is their loyalty level. This is determined based on the percentage of NEXO tokens within a user’s portfolio, rather than the total amount they have deposited. So rich whales don’t get preferential treatment on Nexo. The higher the percentage of NEXO tokens someone has, the greater their loyalty level is, leading to higher interest payouts. Like everything else in crypto, there are risks associated with lending. In addition to borrowers defaulting, it’s also possible that the DeFI platform itself might have problems, as highlighted recently by Celsius when it announced it was temporarily pausing all “withdrawals, swaps and transfers between accounts” due to what it said was “extreme market conditions”. The announcement immediately sparked fears that Celsius likely doesn’t have the assets to back up its deposits in the event of a rush by investors to withdraw their funds. Copy Trading Copy trading is designed for people who’d still like to trade without putting any effort in whatsoever. It’s a perfect lazy way to earn a passive income that involves just replicating the trades of more experienced investors in order to enjoy the same high returns as they do on a daily, weekly and monthly basis. What’s great about copy trading is it doesn’t require big funds either, with many platforms starting at as low as $1 per trade, making it a very accessible way to grow your portfolio. One of the most popular such platforms is BingX, which allows users to follow multiple professional traders simultaneously. For copy traders, the only work they need to do is identify which traders to follow. Luckly, BingX provides lots of useful data on the best trader’s trading history, their risk-reward ratio, return-on-investment indicators and other parameters. More recently, BingX has launched a unique take on copy trading, called “Grid Trading” in order to give its users more flexibility. Grid trading is a strategy that, in simple terms, involves hedging, or placing simultaneous buy and sell orders at certain levels. The aim of this approach is to maximize the profits while the in-built hedging system ensures that the risks are minimized. What BingX has done is apply the benefits of this strategy to copy trading to help ensure traders can consistently take profits from the volatility of crypto assets. With grid trading, users can set gradual buy and sell orders within a defined range of prices. So long as the price oscillates between these ranges, users can earn a reliable profit from the price swings. Become A Validator The final option for lazy crypto profiteering is to become a network validator, which is really just a more sophisticated way of staking. Becoming a validator means taking on the responsibility of serving as an independent node on a PoS blockchain. Unlike regular staking, it requires users to stake a pretty substantial, minimum number of coins, though the exact amount will depend on the blockchain. In the case of Ethereum, one of the best known and most popular blockchains for validators, that minimum is set at 32 ETH (around $36,000 at the time of writing). You’ll also need an additional 1 ETH to pay for the gas fees. Luckily, there are plenty of blockchains with a much lower minimum staking requirement, such as Cardano, Tezos and Cosmos, to name just three. A second requirement is that you’ll require a fair amount of storage space on whatever computer you use to do the validation - with Ethereum, that’s 250GB, plus an additional 8GB of RAM. And while you don’t need to be an expert, you also need to read up on the technical specifics of how to get the node software up and running. The rewards for validating will depend on the amount of tokens you’re staking on the network. So this becomes a key decision, because most networks require that these funds are locked up for a specific period of time. The more coins you stake, the higher the potential rewards, but bear in mind you won’t be able to withdraw them and sell them, no matter what happens to the price of those tokens. Staking rewards are calculated as a percentage of the staked funds, and vary depending on the price of that asset. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
50 days agocryptodaily
Space Coin Project is Bringing Space Tourism to the Masses through a Decentralized System on Ethereum
Space exploration sates our curiosity. Humans can authoritatively begin to answer fundamental questions about their origins by traveling to space. What's more? People will have a better understanding of the solar system. However, the inspiration to push the limits of space exploration comes about with the thought of humans becoming an interplanetary species. Humanity's Quest to be an Interplanetary Species In the past four decades, the cost of space travel and rocket launching has been significantly slashed. This could be due to technological advances and a re-design of rocket launching. Innovations such as reusable rockets and the creation of more thermal resistant materials coupled with discoveries in space and physics have all contributed. Combined, these help cement enthusiasts' beliefs that they will soon be pioneers and open up space tourism, an industry projected to be worth $3 billion by 2030. However, significant cost limitations prevent ordinary folks from booking the next spaceship and zooming beyond the atmosphere. This is because a single ticket is upwards of $450k. It is a bank breaker and walls out a majority of interested enthusiasts. The Space Coin Project brings Space Travel to the Masses However, this is what the Space Coin Project aims to resolve. By tapping on the ideals advocated by blockchain, they are creating a decentralized gamified and secure system allowing ordinary space enthusiasts from across the globe to afford a seat on a spaceship and take their dream trip to space. The project leverages the power of the community, aware that the task ahead is monumental and cost-intensive. Unlike what individual companies like SpaceX or Orbital Reef are doing with their Human Space Flight and Blue Origin, respectively, the Space Coin Project will build a concierge service for their clients to fairly purchase a ticket and travel to outer space. The Role of the SPJ Token Companies offering thrilling adventures in space will increase as space tourism takes root. However, related costs and service packages will vary dramatically. To ensure that acquiring tickets is easy, the Space Coin Project has launched its native token, SPJ, on Ethereum. The global nature means that token holders can easily convert them for more liquid assets like USDC or ETH for purchasing tickets. As they buy tickets, they can compare services between service providers and search for the best offers while also receiving superior services as part of the deal. All these experiences will be delivered in the language best understood by the requesting client. The SpaceDAO Space Coin Project has indicated that the SPJ token will be fairly launched on SushiSwap, a decentralized exchange in Ethereum. Notably, SPJ will be the base of SpaceDAO, primarily made up of space enthusiasts drawn from all over the globe and brought together on the Ethereum-based dApp. SPJ holders will also have a right to vote on critical initiatives, and be a key part of the future of Space Coin Project. SpaceDAO will also play a critical role in ticket acquisition and help forge strong relationships with space travel companies. According to Space Coin Project creators, because they lean toward community and decentralization, the SpaceDAO will be community-led. SpaceDAO will be tasked with burning SPJ tokens swapped for ETH or USDC for purchasing spaceship tickets. The Space Coin Project has revealed that there will be a commemorative NFT that gives them access to a private Discord group of space travelers for every ticket purchase. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
57 days agocryptodaily
Metaverse platform, REALM Announces Launch Date of Its Mobile App on Android and iOS
REALM, a mobile-based social impact “metaverse factory”, is set to release its first mobile app beta on the Google Play Store and Apple App Store. Set to be released on June 21, or REALM day, the app will allow users to play games, build galleries, and follow quests to win rewards. Additionally, users can create their own ‘microverses’ to experience the REALM metaverse fully. The launch of the mobile app will coincide with the NFT.NYC conference. Visitors to the conference will be able to join the launch party, which will include an exclusive preview of a new kind of gaming experience, created in partnership with visionary artist Oseanworld. The exhibition will be open 2 PM - 8:30 PM on June 21-22, at 251 Elizabeth Street, NYC. The launch party allows attendees to join a scavanger hunt in which they can win tokens and prizes from the physical clothing and accessory collections created by Oseanworld. For those who can’t attend the NFT.NYC conference, the beta app will be available for them, allowing them to start experiencing the unique features that REALM offers. Speaking on the upcoming beta mobile app launch, Matt Larby, Founder and CEO of REALM said, “We really can’t wait to show the world what we cooked up with REALM. The beta launch is going to be awesome for anyone who can attend NFT.NYC. For everyone else, the app will be live to experiment with and build your own microverse. We want everyone, from regular folks to big brands to build up their own little experience in REALM.” As mentioned, the mobile app will include multiple metaverse worlds (REALMS) including games, galleries, and quests. Notwithstanding, the platform also offers simple and free developer tools that allow anyone to create a custom “microverse” without any prior developer or coding knowledge. The mobile app will also include an NFT marketplace that allows users to collect in-game items and trade them with both crypto and regular payment methods. Any Android and iOS smartphone user can download the app and access all the user-generated realms. With the app, game developers have an immersive selection of features to add to their games including unique Augmented Reality and Virtual Reality experiences. The in-game tools to create quests or ticket-gated events with live audio, 3D sound, vibrations, flying and many more tools to create a unique community experience. The REALM metaverse land parcels Apart from the gaming development features, the REALM mobile app will also allow users to purchase land parcels in the main REALM metaverse, with 9488 plots up for grabs. The REALM land parcels are organized in 4 concentric areas, whereby the interior area has the highest traffic and the value of the plots is more expensive than the adjacent external areas. To purchase the land parcels, users will require the REALM token, which is available on secondary markets. The token also offers wide utility in the REALM metaverse to the holders including access to premium content and obtaining rewards from the project’s revenue (up to 33% of all proceeds). An additional third of the proceeds are reserved for sustainability initiatives. Finally, the REAL project has partnered with other projects such as Plasticbank, Eden Reforestation Projects and Brokoli, to ensure the REALM metaverse supports the real environmental causes. Players on REALM will be able to transform their digital nature into a physical form. Each tree or coral reef used for decoration in the REALM metaverse will mean one more real tree planted, or one more coral reef preserved. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
57 days agocryptodaily
Lack Of Liquidity Forces Celsius To Block Crypto Withdrawals
Celsius’s decision to stop all crypto withdrawals has sent the already volatile market into a freefall, as BTC, ETH, and other leading cryptos crashed on Monday. Suspending Withdrawals To Maintain Liquidity On Monday, leading crypto lending company Celsius, with a $3.25 billion valuation, announced that due to “extreme market conditions,” it was immediately blocking all crypto activity between accounts. This means that over 1.7 million Celsius users will not be able to withdraw, swap, or transfer the crypto funds held in their accounts. The statement read, “We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets. Furthermore, customers will continue to accrue rewards during the pause in line with our commitment to our customers.” Were The Skeptics Right? This decision comes as a sudden blow to the community, as Celsius had just published a blog on June 7, talking about how its coffers were sufficiently equipped to handle the market volatility. An excerpt from this blog reads, “At this already challenging time, it’s unfortunate that vocal actors are spreading misinformation and confusion…Celsius has the reserves (and more than enough ETH) to meet obligations, as dictated by our comprehensive liquidity risk management framework.” Clearly, till just a few days ago, the Celsius team had held and maintained quite a dismissive stance towards its skeptics, who had previously warned the community about the platform, some even calling it a Ponzi scheme. Founder and CEO at BrightScope & Digital Assets Data, Mike Alfred, tweeted that, “The next Terra Luna blow-up is almost certainly Celsius. Celsius may be the most irresponsible company in crypto. Given how much money they lost in Luna, where else do you think they're hemorrhaging your capital? Mining? Do you really think they have all the Bitcoin they claim?” Grasping At Straws For Liquidity The company had already reworked its rewards program in April, preventing most U.S. users from earning rewards due to the pressure from regulators. However, several users are now criticizing it for mismanaging its funds following the collapse of the Anchor Protocol on the Terra blockchain. Reports are claiming that to address the rumored liquidity crisis, Celsius has unstaked $320 million worth of wBTC, ETH, and other crypto-assets and sent them to the FTX exchange. Even though the exact intentions are unclear, speculations are ripe that the Celsius team could sell the assets it sent to FTX. In fact, rival lending platform Nexo has already expressed interest in buying certain assets from Celsius. There is also the possibility that the team tries to stake the tokens sent to the exchange in order to earn yields. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
57 days agocryptopotato
SOL Price Analysis: Solana in Freefall with 18% Daily Drop, Where’s the Next Support?
Over the past 24 hours, SOL crashed by a whopping 18% and is now found in a freefall. Key Support levels: $23 Key Resistance levels: $37 With Solana losing its key support at $37 a while back, which has now turned into resistance, the price is well on its way to testing the next important […]
63 days agocryptopotato
Terra Founder Do Kwon’s Twitter Goes Private as LUNA Plunges 20%
Almost a month after Terra Classic's freefall, its founder Do Kwon has turned his Twitter private.
87 days agonulltx
Terra Luna Officially Dead, Do Kwon Releases More Statements on Twitter
After a coordinated attack last week that de-pegged the TerraUSD stablecoin, LUNA was sent into freefall as more and more coins were being minted to attempt to re-stabilize UST. Unfortunately, this caused a vicious cycle that pushed LUNA’s price to worthless levels, effectively wiping out billions of dollars worth of Terra Luna value. Any investors […] The post Terra Luna Officially Dead, Do Kwon Releases More Statements on Twitter appeared first on NullTX.
89 days agocryptodaily
CryptoDaily’s Tech Roundup with Adreynn Ashley
I'm Adryenn Ashley for CryptoDaily and here are this week’s top 5 tech announcements in the crypto space for this week. Ledger and OnChainMonkey launch The first NFT-branded Nano X hardware wallet to provide industry leading asset security in the palm of your hand OnChainMonkey and LEDGER have come together to collaborate on a special Nano X edition hardware wallet. With this collaboration, LEDGER and OnChainMonkey are bringing the world's leading hardware wallet together with the historic on-chain non-fungible token (NFT) collection aimed at real world impact. Created by Metagood, OnChainMonkey is the first NFT profile picture (pfp) collection created on-chain in a single transaction. OnChainMonkey was free mint on Sept 11, 2021 of 10K NFTs and has consistently been the most profitable NFT collection measured by percent of trades that are profitable, ranking above all other major NFT projects. Recognized this week on Fast Company’s 2022 World Changing Ideas Awards for Social Impact NFTs, Metagood is a for-profit company that strives to build a better future for Web3 while doing good along the way. Through their first NFT project OnChainMonkey, Metagood has simultaneously created value for its community members and contributed to several important causes including funding the successful evacuation of Sharbat Gula (known as “Afghan Girl” from National Geographic) and her family to Italy after she was targeted for being a Western icon, donations to Coral Vita to repair reefs in the Atlantic Ocean, and funds raised to help people impacted by the typhoons in the Philippines. CEO Danny Yang said “The collaboration with Ledger allows Metagood to provide the best security for its community, While the NFT world moves at light speed, we have made it a mandate to support the OnChainMonkey community in protecting their assets so they have peace of mind.” The OnChainMonkey LEDGER Nano X Hardware wallet is available now at Ledger.com Gucci Begins Accepting Cryptocurrency Iconic fashion brand Gucci is beginning to accept cryptocurrency in some of its U.S. locations with more to come, including Beverly Hills and New York City. In-store payments will be made so that customers can securely scan with their crypto wallet. The stores will accept various digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, and Shiba Inu. Other brands have already begun accepting crypto. Dolce & Gabbana, Adidas, Nike, and Vans. Get an NFT with your Starbucks Would you like an NFT with your latte? Starbucks has said that NFTs will help extend its brand’s concept of the “third place” — meaning a place between home and work where people can feel a sense of belonging over coffee. The Starbuck’s NFT collection will serve as the backbone to build out their future collections and collaborations in the web3 community NFT’s in the Music Business Timbaland has announced the creation of Ape-In Productions A new entertainment company and platform that develops music and animation for metaverse applications. Ape-In will work with several Bored Ape Yacht Club NFT owners and other collaborators. On This same day record label Universal Music Group announced plans to create a virtual metaverse band. Elon Musk and Jack Dorsey partner up to mine Bitcoin. While the two billionaires had previously clashed over crypto, it looks like Elon Musk and Jack Dorsey are putting the past behind them. Tesla is going to provide solar technology for a Bitcoin mining operation by Block and crypto tech company Blockstream. The $12 million Texas mining facility is an opportunity for the crypto influencers to show the world that proof-of-work mining can be a sustainable venture. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
89 days agozycrypto
Famed Bitcoin Enthusiast Max Keiser Hints That Cardano’s ADA Could Be Next To Collapse After LUNA
In what will surely be a historic week in the crypto world, Terra’s LUNA, the crypto that backs its dollar-pegged algorithmic stablecoin UST lost over 94% of its value in a single day. Noticeably, it hasn’t been an ordinary crash —  but rather an agonizing freefall.
89 days agocointelegraph
3 reasons why bears aim to pin Bitcoin below $30K for this week’s BTC options expiry
BTC price is in a freefall and data suggests bears plan to keep the price below $30,000 until the May 13 options expiry.
90 days agocryptopotato
Stock Prices of Bitcoin Mining Companies Tumble Amid Broader Market Downturn
As the entire crypto market is tumbling, the stock prices of some of the largest publicly-traded BTC mining companies are freefalling.
91 day agocryptopotato
Here is What Happened to LUNA and Why the Price Can Continue Crashing
UST lost its peg and LUNA is in freefall. How did this happen and can prices keep tumbling?
91 day agocryptodaily
Tokenized Real-World Asset Market Continues Defying Broader Market Crash
The ongoing geopolitical tensions, paired with macroeconomic problems and rising inflation, have severely impacted the crypto and stock markets in tandem. In the last month alone, the majority of the cryptocurrencies have cratered, giving back significant value and, in turn, dragging the global crypto market cap down from around $2 trillion to $1.45 trillion. Most cryptocurrencies are currently experiencing freefall and awaiting a modicum of support from buyers. For instance, Bitcoin (BTC), the largest cryptocurrency by market capitalization, is currently hovering around $31,000 - more than 50% down since its previous ATH (all-time high). Within the last 30 days, BTC has lost around 25% of its value. Other altcoins like Ethereum (ETH), Solana (SOL), Cardano (ADA), Terra (LUNA), and dozens more are currently facing an uphill battle to recover lost ground. The current bloodbath across both traditional and crypto markets has pointed out one thing: tech stocks and Bitcoin (BTC) have moved in tandem throughout this month. The Crypto Fear & Greed Index is currently trending around 10, indicating “extreme fear” among investors and an uptick in liquidations. Market experts claim that what we are witnessing right now is the result of Bitcoin’s increasing correlation with the S&P Index, primarily because market participants are trying to reduce their risk exposure. And if that wasn’t enough, the Luna Foundation Guard’s decision to offload $750 million worth of BTC from its reserves to back up the price of its TerraUSD (UST) token, the panic over inflation, and a potential recession on the horizon have all contributed in crashing the crypto markets. Traditional stocks haven’t fared better as investors continue selling off holdings to minimize losses. It appears that all confidence in the stock market has suddenly vanished as economic uncertainty rises and bond yields stick to near highs, with many market commentators increasingly talking up the likelihood of stagflation as supply chain struggles persist. At the time of writing, the Dow Jones Industrial Average continues to decline, while the S&P 500 fell below the 4000 level for the first time in more than a year. Likewise, the NASDAQ Composite market also registered a dip of almost 4.3%. Part of the tumbling value of crypto and stocks can be attributed to the US Federal Reserve’s recent announcement regarding a 0.5% increase in interest rates and reduction in balance sheet bond holdings. As a result, the demand for bonds faced an unprecedented dip in demand, thereby lowering their prices and increasing their yields. This turned out to be bad news for the stock market, particularly technology-related stocks. Other than these factors, the ongoing tensions between Russia and Ukraine are showing no signs of ending, further impacting global businesses and the economy, especially grain prices, which have surged higher. On top of it, earlier this week, news broke out that Shanghai is again intensifying lockdown as part of its zero-Covid policy. All of these realities have forced investors to rethink the growth outlook. Tokenized RWA Market Holds Its Ground While the broader market is bleeding out, the tokenized real-world asset sector has been able to defy the dip. Since tokenized real-world assets do not necessarily correlate with moves in cryptocurrencies or stocks, they have remained largely indifferent to the broader market's volatility. By bridging real-world assets like invoices, royalties, and real estate to the ever-expanding DeFi sector, several projects have unlocked trillions of dollars worth of liquidity that can take the DeFi ecosystem to new heights. At the same time, tokenized real-world assets also enable users to access low-interest crypto loans and even earn decent yields by joining liquidity pools. For instance, the DeFi market has mostly been limited to on-chain assets, leading to a shortage of liquidity and over-collateralized options, which has limited the majority of the population from joining the DeFi movement. With the tokenization of real-world assets, it has become easier for everyone to access financing and earn yields without intermediaries or third-party service providers. To that extent, Centrifuge, a decentralized asset financing protocol, is among the platforms where anyone can tokenize real-world assets and use them as collateral to access financing via Tinlake - its proprietary asset-backed lending application (dApp). At the same time, Centrifuge also lowers the risk for investors by avoiding the volatility of the crypto market. The platform uses only DAI or other US Dollar-pegged stablecoins like USDC to offer non-volatile investment opportunities, making it a promising investment option, especially when cryptocurrencies and traditional markets are getting increasingly interrelated. Even when the crypto and stock markets are in turmoil, with investors jumping in on a selloff spree, the total value locked (TVL) across all real-world asset pools on Tinlake is close to touching 85,000,000 DAI. Some of the listed asset pools on the platform offer as high as 10.57% APY, irrespective of the changes in value across the crypto and stock markets, positioning them as a potential hedge against turbulent market forces. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
92 days agocryptopotato
BTC Dipped Below $30K for the First Time Since July 2021, LUNA Plummets 45% (Market Watch)
Terra continues to freefall as LUNA plummeted by more than 40% in the past 24 hours alone. Bitcoin dipped below $30K for the first time in almost a year.
92 days agocryptopotato
3 Possible Reasons For Bitcoin’s $6K Weekly Crash
Bitcoin's price has been in freefall over the past week - losing over 16% in the process. Here are a few possible reasons for the decline.
93 days agocryptodaily
Fear is dominating the crypto market
Bitcoin is in freefall with the rest of the crypto market following suit. As the bearish trend intensifies many cryptocurrency investors are turning to stablecoins or are selling up and leaving the market. Source: Alternative.me The Fear and Greed Index is a fairly reliable barometer of how investors are feeling about crypto at any point in time. The index has today dropped to a value of 11, which puts sentiment almost as low as it has been over the last year, with 10 being the lowest value. Source: Alternative.me Bitcoin has fallen to around $33,300 so far, and there doesn’t appear to be any major support from here down to between 31k to 30k. Stochastic RSI has bottomed on the daily, and the Relative Strength Index is about to cross into oversold on the same time frame. Time to buy? All in all, it could well be a good time to see a reversal. This much bearish sentiment will often trigger such a reversal. Whether it leads to a complete reverse in trend remains to be seen, or perhaps we may have a bounce leading to a lower high, and then a continuance of the downward trend. Given the old adage of “Buy when there’s blood on the street”, it could be a good time. The pavements could be said to be awash with it in the current dreadfully negative sentiment. Buying small amounts during these present times could well pay off in a major way over the coming years. The fundamentals of bitcoin have not changed at all, and seeing the plight of fiat currencies, stocks, bonds etc. it would hardly be surprising to see bitcoin rise to the surface and become a store of value for the ages. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
99 days agocryptodaily
Dubai-Based Damac Properties To Accept Crypto Payments
Dubai-based real estate developer Damac Properties has disclosed that it will accept BTC and ETH payments for property sales. BTC Payments For Dubai Homes In another crypto win for Dubai, the city’s well-known real estate developer, Damac Properties, announced that buyers would be able to use BTC and ETH to purchase properties in the city. The motivation behind this decision seems to stem from Dubai’s growing interest in and exposure to cryptocurrencies. The real estate company has stated that the decision to allow crypto payments was taken for two main reasons. The first reason is that it would create more payment channels for buyers, making property investments easier for those who have struck big with crypto. The other reason behind this decision was to revolutionize the real estate industry in Dubai, which is currently going through a crypto awakening. Damac’s general manager of operations, Ali Sajwani, spoke on the decision to open up crypto payments, “This move towards customers holding cryptocurrency is one of our initiatives to accelerate the new economy for newer generations, and for the future of our industry. It is crucial for global businesses like ours to stay at the top of evolution. Offering yet another transactional mode is exciting, and we are glad to recognize the value this technology brings to our customers.” Damac’s Metaverse Plans Accepting crypto payments is just one part of the initiative taken by the Damac Group (parent company of Damac Properties) to expand in the crypto and blockchain sphere. The most recent element of this space, the metaverse, has caught the attention of the Damac Group, which is looking into building digital cities. This metaverse project, known as D-labs, will be funded by the $100 million pledged by the Damac group and led by Sajwani. The State Of Crypto In Dubai Damac is not the first real estate company in Dubai to dabble in crypto and blockchain tech. Earlier in March 2022, another Dubai-based real estate developer Paradise Hills Property Development, announced its partnership with the ThreeFold Blockchain network to bring the world’s largest decentralized Internet Cloud into Dubai properties. Under this initiative, property owners would be able to access a dedicated server to help them develop decentralized applications (dApps). Dubai’s latest love affair with crypto officially started when the city established a Virtual Asset Regulatory Authority that will focus on developing the crypto sector. Following this, several businesses and organizations started opening up their doors to crypto payment channels. One such organization is the Citizens School, which has announced that it will be accepting tuition fee payments in crypto when classes start in September 2022. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
106 days agocryptodaily
UAE’s Crypto Race Heats Up: Kraken Gears Up For Abu Dhabi Operations
With the crypto race heating up in the United Arab Emirates, the crypto exchange Kraken has recently obtained the crypto operations license, allowing it to set up shop in Abu Dhabi. Crypto Firms Flock To Dubai The crypto firm will set up its regional office in Abu Dhabi to operate its virtual asset platform in UAE. Operations will start during Q2 or Q3 of 2022, catering to a new client base in matters of investing, trading, withdrawing, and depositing digital assets directly in dirhams. The UAE’s pro-crypto stance has drawn in several crypto firms and exchanges to set up operational bases. The world’s largest crypto exchange, Binance, has been looking to acquire an operational license in Dubai, to set up shop in the Dubai World Trade Centre. Initial reports have claimed that the crypto firm is awaiting its accreditation to operate as a crypto services provider in the DWTC after signing an agreement with the latter to pursue expansion. The DWTC also seeks to establish an independent crypto authority and develop itself as a ‘free zone’ for crypto operations. Another crypto front runner and one of Binance’s top competitors, FTX, had also applied and received the license from Dubai’s virtual asset service provider authority to set up a regional headquarter in the city. Other noteworthy crypto firms to have made their presence felt in the UAE are BitOasis, Bybit, and Crypto.com. Middle East’s Third Largest Crypto Market As the US and other global superpowers clamp down on crypto regulations, firms and exchanges have been looking for countries with a more progressive approach to the industry. The UAE, with its oil-supported economy and temperate views on cryptocurrencies, presents an attractive climate for the world’s largest crypto firms like Kraken, Binance, etc., making it the Middle East’s third-largest crypto market. The country’s capital, Abu Dhabi, has been also polished up and presented as the next big global crypto hub by adopting a virtual asset regulatory framework back in 2018. Dubai also has followed suit recently by establishing a similar yet independent authority that will regulate the city’s crypto sector. Crypto In Dubai School, Real Estate Dubai has also been incorporating crypto and blockchain tech into the daily facets of life in the city. For example, the Citizens School, which will be starting classes in September 2022 in Dubai, has announced that it will accept tuition fee payments in BTC and ETH along with Dirhams. In addition, the city’s renowned real estate developer, Paradise Hills Property Development, has also partnered with a p2p network company, ThreeFold, to introduce the world’s largest decentralized internet cloud powered by the ThreeFold Blockchain into homes in Dubai. As a result, these homeowners will have the computing power and internet storage to run decentralized applications (dApps). Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
110 days agocryptopotato
ThreeFold: Building a Truly Decentralized Internet Infrastructure
The Internet economy is largely managed by centralized companies that connect servers and storage space to run web content. These companies are responsible for critical decisions that affect the Internet at large. They decide how user data is collected, stored, analyzed, and used, leaving people with little to no privacy or control over their identity […]
124 days agocointelegraph
Bears have a $100M reason to keep Bitcoin price under $45K until Friday’s options expiry
BTC price is in a freefall, and data suggests bears will keep the pressure on until Friday’s options expiry.
139 days agocointelegraph
Nifty News: Mayweather returns to crypto ring after legal KO... Reef gets NFTs
Floyd Mayweather’s latest bout with the crypto space will see him enter the Metaverse with a new NFT collection.

About Reef

The live price of Reef (REEF) today is 0.004317 USD, and with the current circulating supply of Reef at 19,860,470,749 REEF, its market capitalization stands at 85,746,940 USD. In the last 24 hours REEF price has moved -0.000243 USD or -0.05% while 8,259,871 USD worth of REEF has been traded on various exchanges. The current valuation of REEF puts it at #273 in cryptocurrency rankings based on market capitalization.

Learn more about the Reef blockchain network and how it works or follow the price of its native cryptocurrency REEF and the broader market with our unique COIN360 cryptocurrency heatmap.

Reef Price0.004317 USD
Market Rank#273
Market Cap85,746,940 USD
24h Volume6,193,777 USD
Circulating Supply19,860,470,749 REEF
Max SupplyNo Data
Yesterday's Market Cap86,814,670 USD
Yesterday's Open / Close0.004615 USD / 0.004372 USD
Yesterday's High / Low0.004675 USD / 0.004328 USD
Yesterday's Change
-0.05% ( 0.000243 USD )
Yesterday's Volume8,259,870.50 USD
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