A handful of concerning factors, plus AAVE’s correlation with the Nasdaq, increases the possibility of the altcoin undergoing another massive sell-off.
The term ��altcoin” refers to any cryptocurrency that has launched since Bitcoin (BTC). In the early days of Bitcoin, developers forked the open-source code to create new currencies. Over time, these Bitcoin alternatives began to diverge further from their progenitor with different supply schedules and privacy features. These include Litecoin (LTC) and Zcash (ZEC), among others.
Along with altcoins came a plethora of Bitcoin–altcoin trading pairs that produced a surge in market activity, with traders leveraging the volatility of these crypto assets for high-risk rewards.
The rise of altcoins and their respective blockchain networks marks an era of experimentation and maturation within the crypto industry, as a wider range of use cases of the technology have become possible.
According to Pocket Network, the latest integration with NEAR allows native developers to deploy their applications on other supported blockchains, including Ethereum, Solana, Polygon and more.2620
Quad-stablecoin liquidity pools, an integration with Oasis Network and 12 new vaults could be the factors behind BIFI’s current triple digit gain.3476
MakerDAO returned to prominence after Terra’s UST collapse forced investors to search for a truly “stable” dollar pegged asset.2594
Terraform Labs will put the proposal up for a governance vote on May 18 Asia time.27709
BTC and most altcoins are facing strong selling at the top of each rally, but the short-term downside could be limited since Bitcoin bulls keep buying each dip.10526
The BTC futures premium flashed a slightly positive reading, but options markets show extreme fear from whales and market markers.4860
Bitcoin could eventually attempt a relief rally which might trigger a rebound in MANA, MKR, ZEC and KCS price.3672
The Luna Foundation Guard updated the world concerning its crypto-asset reserves and shared a promise to compensate the remaining users of failed stablecoin UST.18781
Doom and gloom and an overall sense of unease pervades the market ahead of the World Economic Forum.19071
During the Queen's Speech, Prince Charles announced the introduction of a bill that would help tackle illicit finance, reduce economic crime and help businesses grow.10854
The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain and hopes a whole new blockchain will be created to replace it.9794
Pointing out the potential issues with forking Terra, CZ said that “Minting, forking, don’t create value.”39854
The dangers posed by stablecoins to the traditional market cannot be dismissed due to Tether’s exposure to the U.S. credit system.14665
Despite the risks involved, Terra’s ‘insane volatility’ still serves as an attractive market for many short-term investors — mainly because LUNA momentarily gained 600% in value on Saturday.73423