🗞 Daily Crypto News, March, 31st💰

vlemon (76)in GEMS • 3 years ago

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Bitcoin flash crashes by $2K in 5 minutes, liquidating $600M in longs

Bitcoin (BTC) fell over $2,000 in five minutes on March 31 as a wave of volatility disrupted an otherwise calm market.

BTC sees sudden volatility

Cointelegraph Markets Pro and Tradingview showed a nightmare for long traders unfold on Wednesday, with BTC/USD suddenly dropping from $59,350 to $57,000.

At the time of writing, the losses were still mounting after the pair hit lows of $56,713 on Bitstamp.

"Exactly Bitcoin," trader Michaël van de Poppe reacted to what has become a familiar event on short timeframes for Bitcoin.

"Now that all leveraged longs are liquidated, we finally have room for breaking $60K in April."

Funding rates creep up

🗞 $11 Billion in ‘Fake’ Uniswap Volume Causes DeFi Project and DEX to Clash

Uniswap trading volumes are higher than normal.

A developer has created a way to inflate Uniswap trade volumes on custom tokens.

A day after helping Uniswap set a new, albeit short-lived and dubious, record for daily transaction volume, Delta.financial has done it again—to the chagrin of Uniswap, one of the largest decentralized exchanges in the world.

Delta is a DeFi protocol for removing volatility from options trading by stabilizing liquidity. An anonymous developer with the CORE team, which built Delta, has released a smart contract that allowed nearly $11 billion in trading volume for a single token to be registered over the last 24 hours on Uniswap. That would be a new record, though it’s unlikely it will stand; Uniswap Info, an analytics site, yesterday invalidated Delta volume.

The developer’s move threatens to render Uniswap statistics meaningless in an industry where transparency is a currency, all over a somewhat manufactured debate over decentralization.

🗞 Michael Jordan, Will Smith join $305M funding round for NBA Top Shot maker Dapper Labs

NBA Top Shot maker Dapper Labs has secured about $305 million in new funding round from investors.

According to a report by Business Insider on Tuesday, past and present NBA stars like Michael Jordan, Alex Caruso, and Kevin Durant participated in the funding round. Other investors included The Chernin Group and Will Smith’s venture capital outfit Dreamers VC.

With this latest funding round, Dapper Labs now reportedly holds a $2.6 billion valuation. As previously reported by Cointelegraph, NBA Top Shot had grossed $230 million in sales as of the end of February.

“NBA Top Shot is successful because it taps into basketball fandom — it's a new and more exciting way for people to connect with their favorite teams and players."

🗞 Tesla Developers Help Patch Flaw in Open-source Bitcoin Pay Software

The auto giant Tesla has gone a step further than simply buying bitcoin (BTC) and accepting BTC pay – and is now contributing fixes to open-source software built on the Bitcoin network.

In a tweet, the masterminds behind the popular payment processor and crypto wallet service BTCPay Server wrote,

“We want to thank Tesla for submitting the disclosure that led to these fixes and helping us with remediation. Thank you for contributing to the community and helping keep our users safe.”

After spotting a potentially critical flaw in code posted on the GitHub repository by BTCPay Server, Tesla reached out to the project and helped the developers create a patch.

On Twitter, many users wrote of their joy that Telsa was “contributing to Bitcoin,” while one quipped that “Tesla has officially done more for Bitcoin than Coinbase.”

🗞 Daily Crypto Calendar, March, 31st💰

Cardano (ADA), COTI (COTI)

"AdaPay on Shelley MainNet," during Q1 2021.

Cardano (ADA)

"At the end of March... responsibility for block generation will be fully decentralized."

COTI (COTI)

"Debit card and bank account," during Q1 2021.

Pundi X (NPXS)

"Explore DeFi functionalities on the XPOS®," during Q1 2021.

Chiliz (CHZ)

Chiliz will launch a new Fan Token for the Pro Fighting League.

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3 years ago in GEMS by vlemon (76)

$1.67

18 votes

STEEM 0.26

TRX 0.11

JST 0.033

BTC 64777.26

ETH 3101.53

USDT 1.00

SBD 3.84