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The decline of CVX 💰
A quarter of the supply of Convex Finance (CVX) is about to be unlocked, induce fears about a more distant price decline. This comes as the amount of liquidity on the platform — which can help absorb selling pressure — has shrunk considerably.
Right now, Curve's main pool for CVX tokens is balanced.
Data from Curve shows there's currently about $11.2 million of wrapped ETH available as potential liquidity, alongside over $11.8 million of CVX tokens.
But come June 30, about 27.4 million CVX coins worth over $126 million will be unlocked, according to this Dune Analytics dashboard. This figure amounts to over 27% of the total Convex token supply.
A quarter of the supply of Convex Finance (CVX) is about to be unlocked, induce fears about a more distant price decline. This comes as the amount of liquidity on the platform — which can help absorb selling pressure — has shrunk considerably.
Right now, Curve's main pool for CVX tokens is balanced.
Data from Curve shows there's currently about $11.2 million of wrapped ETH available as potential liquidity, alongside over $11.8 million of CVX tokens.
But come June 30, about 27.4 million CVX coins worth over $126 million will be unlocked, according to this Dune Analytics dashboard. This figure amounts to over 27% of the total Convex token supply.
The native token LeverFi has surged by over 7% in the last 24 hours, currently trading around $0.001341. This rise comes despite a significant downturn of over 6% in the global cryptocurrency market capitalization, which now be set at $38 million.
LEVER has significantly outperformed other major altcoins, with many cryptocurrency analysts on X bullish about the token's prospects. "The number of large LEVER transactions is on the rise, peaking at nearly 1,000 transactions bigger than $3k last week. While this is still not close to levels of the last bull market, it is a positive sign for the bulls."
However, one analyst believes the token could soon face downside pressure and that the current gains will be short-lived. "We noticed that LEVER correlates with major cryptos such as BTC.
LEVER has significantly outperformed other major altcoins, with many cryptocurrency analysts on X bullish about the token's prospects. "The number of large LEVER transactions is on the rise, peaking at nearly 1,000 transactions bigger than $3k last week. While this is still not close to levels of the last bull market, it is a positive sign for the bulls."
However, one analyst believes the token could soon face downside pressure and that the current gains will be short-lived. "We noticed that LEVER correlates with major cryptos such as BTC.
$LEVER
Having said all that and you lose your hopes in becoming the next millionaire through projects and instead start chasing the pump and dumps and meme shit coins to get your millionaire ticket, just let me tell you that’s probably 99,99 % not going to happen either lol.
Save yourself from investing in shitcoins, meme coins and focus on DCA (dollar-cost equaling is a financial investing strategy) through the years, and after all you will retire way way much earlier, and that’s the true to it.
Having said all that and you lose your hopes in becoming the next millionaire through projects and instead start chasing the pump and dumps and meme shit coins to get your millionaire ticket, just let me tell you that’s probably 99,99 % not going to happen either lol.
Save yourself from investing in shitcoins, meme coins and focus on DCA (dollar-cost equaling is a financial investing strategy) through the years, and after all you will retire way way much earlier, and that’s the true to it.
LUNC
In a stunning turn of events, TerraClassicUSD (USTC) has undertake an impressive surge, fling by an astonishing 165% in just 24 hours. This unexpected rally has reawakened optimism for the recovery of Terra Classic (LUNC), marking a significant moment for the digital asset.
Driving this meteoric rise is a planned funding orchestrated by Terra Classic Labs, a pivotal organization perform to fortify the Terra Classic ecosystem. TCL’s purchase of a solid 25 million USTC, valued at around $500, at an standard purchase price of $0.021 USTC, has played a pivotal role in this surge.
In a stunning turn of events, TerraClassicUSD (USTC) has undertake an impressive surge, fling by an astonishing 165% in just 24 hours. This unexpected rally has reawakened optimism for the recovery of Terra Classic (LUNC), marking a significant moment for the digital asset.
Driving this meteoric rise is a planned funding orchestrated by Terra Classic Labs, a pivotal organization perform to fortify the Terra Classic ecosystem. TCL’s purchase of a solid 25 million USTC, valued at around $500, at an standard purchase price of $0.021 USTC, has played a pivotal role in this surge.
NO.
Finance YFI token deteriorate over 40% for seemingly no reason.
Upon observing the striking red candle on the YFI chart, numerous traders quickly attributed the unexpected price variation to a potential rug pull by insiders at Yearn Finance.
Rest assured, the dramatic drop in YFI’s value wasn’t a case of its largest holders offloading their tokens. Instead, it appears to have been the result of a calculated attack aimed at depleting the insurance pool of the trading protocol dYdX.
An attacker exploited the low margin requirements on dYdX’s YFI trading market to pump and dump the token, extracting around $9 million from the protocol.
Finance YFI token deteriorate over 40% for seemingly no reason.
Upon observing the striking red candle on the YFI chart, numerous traders quickly attributed the unexpected price variation to a potential rug pull by insiders at Yearn Finance.
Rest assured, the dramatic drop in YFI’s value wasn’t a case of its largest holders offloading their tokens. Instead, it appears to have been the result of a calculated attack aimed at depleting the insurance pool of the trading protocol dYdX.
An attacker exploited the low margin requirements on dYdX’s YFI trading market to pump and dump the token, extracting around $9 million from the protocol.
BNB Coin value analysis
There could be some challenges with BNB lately as the price has been unusual and could lead to a lot of risky scenarios. It was at $277 last month and now $342 today which has a lot of movement.
The way I see it, there is still increased risk, and the buyers are not strong enough to sustain a continuous breakout. Then again I could be just skeptical. BNB did hold strong during the bear market but also was very choppy on the way up. Then again, BNB might reach $450 or more following if it does go up all the way.
BNB will do pretty well in this bull market expect it to peak around 2500 to 3k maybe higher.
There could be some challenges with BNB lately as the price has been unusual and could lead to a lot of risky scenarios. It was at $277 last month and now $342 today which has a lot of movement.
The way I see it, there is still increased risk, and the buyers are not strong enough to sustain a continuous breakout. Then again I could be just skeptical. BNB did hold strong during the bear market but also was very choppy on the way up. Then again, BNB might reach $450 or more following if it does go up all the way.
BNB will do pretty well in this bull market expect it to peak around 2500 to 3k maybe higher.
Weekly trading volume on Sol decentralised exchanges set a new record last week, reaching $1.7 billion, beating the November 2022 record of $1.6 billion, the current week is also off to a promising start with a trading volume of $1 billion so far, signalling a continuation of the upward trend.
The cause, according to some, could be a new cohort of Sol users hoping to qualify for token airdrops.
The cause, according to some, could be a new cohort of Sol users hoping to qualify for token airdrops.
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