Hegic Protocol announces ‘gradual’ governance launch for long-term users

Hegic will reward long-term traders, LPs, hodlers, and Discord users with its forthcoming governance token. Decentralized finance protocol Hegic has announced a soft governance launch designed to reward its long-term users. According to an April 19 announcement, Hegic intends to reward its most loyal users with its new gHEGIC governance token, straying from the public airdrops and yield farming campaigns that have become a popular means to distribute governance in the DeFi sector. Users hodling gHEGIC will be able to vote in future Hegic Improvement Proposals. Hegic is a decentralized…

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MakerDAO moves to expand collateral assets and upgrade liquidation engine

The new liquidation engine has been designed to offer Maker’s users greater predictability and security. Decentralized lending and stablecoin protocol MakerDAO has opened governance voting to allow new tokens as collateral. A number of new collateral types have been proposed for MakerDAO, potentially increasing the number of digital assets that can now be used to mint its stablecoin, DAI. Voting began on April 19 and will run for fourteen days. Seven tokens have been suggested as collateral for the Maker, including Moss Carbon Credit (MCO2), Rocket Pool’s staked Ethereum (rETH),…

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Institutional XRP inflows surge as AUM nearly doubles

Institutional investors have rallied around XRP and other altcoins this past week, with nearly $33 million being injected in XRP investment products. Institutional investors have rallied around XRP this past week, with the assets under management, or AUM, or XRP investment products nearly doubling. According to CoinShares’ weekly digital asset fund flows report, roughly $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million. The report describes the week as the most bullish for institutional crypto products since early March, with $233 million injected…

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Bitcoin bears have a $340M lead heading into Friday’s BTC options expiry

$1.55 billion in Bitcoin options are set to expire on April 23 and the recent BTC crash to $51,000 has given bears a $340 million advantage. Bitcoin (BTC) price is making a slow recovery after facing a sharp 16% correction in the early hours of April 18. While some analysts blame a 9,000 BTC deposit at Binance, others focused on the hashrate drop caused by a coal mining accident in China. Regardless of the reason behind the $51,200 low, options market makers were forced to adjust their exposure. Typically, arbitrage…

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Exchange tokens bounce from key support levels as COIN looks for direction

Bitcoin’s sharp correction to $50,000 brought Binance Coin, FTX Token, OKex and Huobi Token to their lower support levels but data shows there is still a bullish case for exchange tokens. A lot of hype was built up before the Coinbase listing on the Nasdaq on April 14 and several cryptocurrencies rallied in the run-up to the event. However, traders usually buy the rumor and sell the news. In this case, they bought until the event, and then several investors seem to have booked profits aggressively. This resulted in a…

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Why Bitcoin’s Price Has Stayed Above $50,000

What we have learned about bitcoin after the unexpected hash rate drop reinforces the bullish narrative. Emiliano Grodzki is CEO and a founder at Bitfarms, one of the largest public bitcoin mining operations in the world. What We Learned From Bitcoin’s Hash Rate Drop Bitcoin has been riding high of late. Yet over the weekend, panic ensued following a significant drop in its network hash rate, down roughly 49%, the biggest 24-hour reduction in Bitcoin’s history. Much is being speculated as to the cause of this, including coal mine explosions…

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Gemini exchange’s crypto custody doubled since January, reaching $25B

Gemini Custody has quickly emerged as a leading platform for institutional investors. The Tyler and Cameron Winklevoss-owned Gemini exchange announced a major milestone on Tuesday, as total cryptocurrency held in custody surpassed $25 billion for the first time.  In charting its impressive growth, Gemini touted growing participation from institutional investors over the past year. Gemini Custody’s assets have more than doubled since the start of 2021. “Our custodial services are used by some of the worlds largest asset managers including BlockFi, Blockchange CoinList, CI Global Asset Management, DAiM, BTG Pactual,…

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Ohio senator wants clarity for crypto tax reporting in proposed bill

Senator Rob Portman said lawmakers were “still pulling in information” on crypto to formulate the bill, implying he announced it to the public prematurely. A Republican lawmaker from Ohio is preparing legislation that would reportedly be aimed at preventing U.S. citizens from evading taxes on their crypto earnings. In an interview with CNBC’s Squawk Box today, Senator Rob Portman said he hoped to introduce a bill with bipartisan support after the next congressional recess which would address the problem of many crypto users in the U.S. not paying taxes. The…

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Interview: Understanding The Bitcoin Market With Glassnode’s Rafael Schultze-Kraft

Glassnode’s Rafael Schultze-Kraft joined “The Bitcoin Magazine Podcast” to discuss the insight offered by on-chain Bitcoin analytics. Watch This Episode On YouTube Listen To This Episode: Apple Spotify Google Libsyn Overcast This week for “The Bitcoin Magazine Podcast,” host Christian Keroles and guest host William Clemente sat down with Rafael Schultze-Kraft, the CTO of Glassnode. Glassnode is an on-chain analytics company and it thrives by making it accessible and easy for Bitcoin enthusiasts, investors and analysts alike to get their hands on cutting-edge metrics and indicators for bitcoin and other…

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Snack companies are openly celebrating 4/20 thanks to DOGE

Since Slim Jim began furiously promoting Dogecoin on Twitter in February, the number of followers on its account has quintupled. United States-based meat snack Slim Jim is the latest food brand to jump into the crypto space by promoting the meme-centric cryptocurrency Dogecoin. In a tweet today, Slim Jim announced it was launching its own nonfungible token, or NFT, featuring the Dogecoin (DOGE) Shiba Inu on the face of the moon underneath a rocketship with the body of the slender meat snack. The NFT offering follows a fury of tweets since February…

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