The week of 06/20 in brief – News about Bitcoin and cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily information flow and that you miss important points. This format is there to remedy that. We return to thenews from the past week‘Crypto Weekly to keep you informed about the current situation of cryptocurrencies.
Crypto news in brief
▶ The Merge is fast approaching on Ethereum. Thus, the Sepolia testnet will be the next to experiment with the switch to proof of stake. On this occasion, the developers have recently deployed a beacon chain dedicated to Sepolia.
▶ Elon Musk continues to support Dogecoin. At least that’s what he announced on Twitter, leading to a usual rise in the price of the token in the hours that followed.
▶ Cristiano Ronaldo takes to NFT. The famous football player has reached an agreement with the giant Binance for the launch of a series of NFTs bearing the image of the player.
▶ Binance sets aside derivatives in France. So, to better comply with regulations relating to PSAN status, the company had no choice but to cut its future services as well as its options.
▶ Decentralized exchange dYdX could migrate to Cosmos. The developers have announced that they are working on a migration of dYdX to its own chain based on the Cosmos SDK.
▶ The Bancor protocol disables its impermanent loss protection. Faced with the vagaries of the market, the protocol had no choice but to deactivate its functionality for fear that it would be misused.
▶ Impossible to miss this Grand Angle Crypto interview with Anice Lajnef. Three hours of most interesting debates.
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The 6 metrics of the week
➤ $250 millionit is the amount lent by FTX to the BlockFi company. Indeed, it is facing significant cash flow problems, following the consequent drop in prices on the cryptocurrency market.
➤ 5it is the number of platforms on which Three Arrow Capital was liquidated. Thus, the investment fund had many leveraged positions that ended up underwater following the high volatility of cryptocurrencies.
➤ $100 millionit is the amount that was stolen in the Horizon Bridge hack. This bridge connects the Harmony blockchain to Ethereum or the BNB Smart Chain.
➤ $100 millionit is the amount of the impressive liquidation that could have taken place on the Solend protocol. Indeed, following the fall of the SOL, a loan position of $100 million was at risk. Fortunately, the situation was resolved and the cascade of liquidations avoided.
➤ $1,000it is the price of the Solana Saga the smartphone announced by Solana Labs. Thus, the company unveiled a smartphone dedicated to the Web3 ecosystem. This should be released in the first quarter of 2023.
➤ 118it is the number of mining farms that could be without electricity in Iran. The order for this power cut would come directly from the local government.
Tweet of the week
The tweet of the week goes to colleague @B3njj92 and his great thread which returns to the fateful question: at what price to buy Bitcoin?
Have a nice week on the Journal du Coin! 🙂
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