Share: The Japanese Yen has been under pressure in recent days, with USD/JPY breaking a six-month high of 140. But in the view of economists at UBS, Yen weakness should reverse as Dollar strength is unlikely to last. BoJ looks set to normalize … [Continue reading]
USD Index eases from recent peaks near 104.40
Share: The index appears slightly offered just above 104.00. Biden-McCarthy reached a deal to raise the debt limit. US markets will be closed on Monday due to Memorial Day holiday. The greenback gives away part of the recent rally, although it … [Continue reading]
PBOC sets USD/CNY reference rate at 7.0575 vs. 7.0760 previous
Share: People’s Bank of China (PBOC) set the USD/CNY central rate at 7.0575 on Monday, versus previous fix of 7.0760 and market expectations of 7.0574. It's worth noting that the USD/CNY closed near 7.0625 the previous day. "China … [Continue reading]
Ethereum worth $7.5M stolen in Arbitrum-based Jimbos Protocol exploit
Share: Arbitrum-based Jimbos Protocol has been hacked barely three weeks after its market premiere. The threat actor made away with 4,090 ETH, worth $7.54 million at current rates. The attacker capitalized on the lack of slippage control over … [Continue reading]
Bitcoin sees capital inflow as Biden, McCarthy agree to raise US debt ceiling
Share: US President Joe Biden has urged the United States House and Senate to "pass the agreement right away." Biden and Republican Kevin McCarthy reached the "agreement in principle" to raise the federal government's multi-trillion dollar debt … [Continue reading]
Solana price prints a bull trap for investors, 25% losses in sight for SOL
Share: Solana price is trading within a pattern from which a breakout is expected. Despite a bullish price action, the technical formation hints at an incoming reversal to $15.19 for SOL. This bearish outlook will be invalidated after a daily … [Continue reading]
Hong Kong’s crypto rules come into effect, Binance CZ finds the timing interesting
Share: Binance CEO Changpeng Zhao has noted that Hong Kong's crypto rules will come into play the week starting May 28. The comment comes after Beijing released a web3 white paper to promote the industry's development. It also comes a week after … [Continue reading]
Shiba Inu price attempts recovery after billions of SHIB burned in the last week
Share: Shiba Inu price is attempting a recovery after almost 3 billion tokens were removed from circulation the past week. That many tokens account for almost 50% of what the SHIB army was able to send to dead-end wallets the week prior. SHIB could … [Continue reading]
Cardano TVL hits new all-time high three weeks to Hoskinson’s ADA decentralization target
Share: Cardano network is enjoying a watershed moment after hitting a new total value locked peak at $446 million. The TVL surge is a testament to the growing popularity and trust in the ecosystem as more protocols go live. Meanwhile, Charles … [Continue reading]
Solana Metaplex fees could push developers back to Ethereum
Share: Solana NFT protocol Metaplex introduced a controversial network fee in its “Token Metadata immutability plan. The move resulted in angry calls for forks and general discontent among its community. Accordingly, the network promptly toned down … [Continue reading]