“Bitcoin (BTC) suffered a near-10% drop over the past 24-hours, fueled by talks of tighter U.S. monetary policy and China’s ongoing pressure on crypto miners.
Resistance is strong around the $40,000 price level, which could keep sellers active towards lower support at $30,000. The next level of support is at $27,000 which could stabilize the current sell-off. Bitcoin registered a series of lower price highs since April and is now oversold based on the daily relative strength index (RSI).”
See Also: Bitcoin Futures Market in Capitulation Mode as Traders Turn Bearish
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“The toolkit seeks to provide useful guidance for regulators and government policy-makers concerning DeFi regulations.
As already stated by MakerDAO co-founder Rune Christensen, regulatory clarity is necessary for DeFi to interact with real-world assets. These regulations will likely cover investor protection and Anti-Money Laundering concerns. For Warren, consumer protection, taxation and AML efforts should not erode decentralization, stating:
I am passionate in my view that decentralization is critically important to the DeFi ecosystem — the most exciting opportunities in the DeFi ecosystem are tied to this aspect, especially when it comes to governance.”
See Also: Amazon Looks to Hire Blockchain Staffers With Experience of DeFi
“El Salvador’s proposed embrace of bitcoin would not end dollarization in the Central American economy, top government officials said, addressing concerns raised by citizens confused about the plan. Providing the most in-depth look yet at President Nayib Bukele’s plan to grant bitcoin legal tender status, Kattan said the still-under-wraps bill would create an opt-in bitcoin economy.
The [U.S.] dollar will continue to be the legal tender in El Salvador. Operations can be done with bitcoin – obviously related to its value in dollars. What the law will say, at the end of the day, is that you can pay – if the person charging accepts bitcoin and if the person paying wants to pay – using bitcoin.
Goods will remain dollar-denominated. Even so, Kattán said the bill would recognize bitcoin as legal tender in El Salvador.”
See Also: El Salvador Residents Are Split on Bitcoin Adoption Bill
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“More than $6 billion worth of Bitcoin is now tokenized on Ethereum as WBTC.
BTConEthereum estimates there are 240,620 Bitcoins that have been tokenized across various protocols for use on Ethereum, representing a combined capitalization of $7.91 billion. Wrapped Bitcoin exerts a clear dominance over the sector, representing 78% of all Bitcoin tokenized on Ethereum.
Other leading Bitcoin tokenization protocols include second-ranked Huobi BTC with 37,906 BTC or 15.7% of the Bitcoin’s supply, and the third-ranked RenBTC with 10,226 tokenized BTC.
In late April, Ethereum-based BTC yield protocol BadgerDAO teamed up with RenVM to launch a bridge between renBTC and its own yield farms. DeFi Llama estimates that more than $540 million worth of assets is locked on the BadgerDAO platform.”
“Wood outlined a schedule and some recommendations for the rollout over the coming weeks of the Parachain Slot Auctions, the bidding process by which projects can secure a lease to build on Kusama. Kusama, Polkadot’s pre-production environment, is also known as a “canary network.” Parachain auctions on Polkadot are still TBD.
The first Kusama Parachain Slot schedule is slated to take place at 8 a.m. ET on June 15. Winners will be determined on June 22.
Winning a parachain slot on Kusama or Polkadot once it’s fully deployed, is an expensive business. Each auction will last a week, and in the case of Polkadot, this is said to require a minimum of 1 million of the network’s native DOT tokens (approximately $20 million at today’s prices).
Projects can crowdfund the tokens required to win a slot using Kusama’s built-in “crowdloan” mechanism, which allows people to contribute by agreeing to lock up their own KSM, Kusama’s native token, until the end of a lease period, for which these contributors can earn rewards.”
“Tim Wu, one of the White House’s top technology advisers and anti-trust experts, currently holds between $1 million and $5 million in bitcoin. The adviser also has between $100,001 and $250,000 in FIL, the native coin of the digital storage and data retrieval platform Filecoin.
The adviser has long been a critic of the power Big Tech companies possess, having written numerous academic papers about information, communication platforms and the internet as well as a few books. He coined the term “net neutrality” in 2002.”
See Also: MicroStrategy Boosts Note Offering to $500M as It Seeks to Buy Yet More Bitcoin: Report
“Origin is an Ethereum-based e-commerce platform focused on “bringing NFTs and DeFi to the masses.”
We look forward to working closely with Paris to bring NFTs to mainstream consumer audiences through education, marketing, and creating new use cases with this disruptive technology (e.g. redemption for physical fashion and accessory items, access to unique experiences or premium content).
Hilton, who strives to be on the cutting edge, actually is old hat in the NFT industry. Last August, she raised 40 ETH (worth $17,000 at the time and close to $100,000 today) for charity after selling NFT artwork she created on Cryptograph.”