Lookonchain, a blockchain tracking platform, now reveals that one stablecoin holder lost over $100,000 after panic selling USDR, a stablecoin issued on the Polygon network, for zero USDC after it depegged on October 11. The stablecoin holder swapped 131,350 USDR for zero USDC, allowing an MEV bot to swoop in and claim $107,000 in profit. The USDR…
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Bitcoin and select major altcoins are under pressure as the September Producer Price Index report shows wholesale inflation surged to 0.5%, exceeding the markets’ expectation. Buyers are finding it difficult to maintain Bitcoin (BTC) price above $27,000. The selling increased after the September producer price index rose 0.5% for the month versus expectations for a…
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Polygon fell for a fourth straight session on Tuesday, as traders pushed the cryptocurrency to a ten-day low. The decline comes as the global market cap remained in the red, having fallen by 0.37% at the time of writing. On the other hand, cosmos rebounded from its lowest point since mid-September. Polygon (MATIC) Polygon (MATIC)…
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Solana price has staged a double-digit recovery since September, and a portion of the move was due to by improving fundamentals. The price of Solana’s SOL (SOL) experienced a 20% gain between Sept. 28 and Oct. 6, but is the rally a tandem move with Bitcoin (BTC), or is it being driven by other factors?…
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September was the biggest exploit month in DeFi, with over $300 million in losses, taking the crown from August. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. In this week’s newsletter, September became the biggest…
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Web3 gaming platform Immutable has unveiled its highly-anticipated mainnet launch roadmap for Immutable zkEVM, marking a significant step towards becoming the go-to platform for gaming on the Ethereum network. The gaming platform aims to enhance the player experience, revenue engine, and developer experience, with zkEVM mainnet launch early next year. … Read More: Web3 Gaming Platform…
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Jaynti Kanani said he had stepped back “from the day-to-day grind” at Polygon roughly six months ago. Jaynti Kanani, the co-founder of Polygon, announced that he has stepped back “from the day-to-day grind” on the project for the first time in six years. In an Oct. 4 X (formerly Twitter) thread, Kanani said he planned…
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Polygon surged to its strongest level since the end of August, as the token extended recent gains. The rally comes despite cryptocurrencies mostly consolidating on Wednesday, following recent declines. XRP was another notable gainer today. Polygon (MATIC) Polygon (MATIC) rose for a back-to-back session on Wednesday, hitting a multi-week high in the process. MATIC/USD moved…
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Fueled by renewed optimism, Bitcoin briefly rallied back above $28,000 on Monday for the first time since August. But the largest cryptocurrency has since pared those gains, dipping to $27,758 as of writing, down 0.85% so far today. While Bitcoin saw an approximate 6% spike over the past 48 hours, peaking around $28,597, it has…
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Crypto bulls are attempting a comeback. Here are the altcoins that traders are keeping an eye on. Bitcoin (BTC) is attempting to trade above $27,000 in a positive sign. In the past few days, Bitcoin’s price held above $26,000 in adverse conditions as the U.S. Dollar Index rose sharply and the S&P 500 index was…
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