Tag: Market

Algorand Foundation Cuts Workforce By 25% Amid Market Uncertainty

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The Algorand Foundation, the organization behind the Algorand layer-1 blockchain, said it had made the “difficult decision” to reduce its headcount by 25% on Wednesday, blaming the crypto slump and wider uncertainty. “This decision was not taken lightly and is in response to the uncertain global macro environment as well as the broader downturn in crypto markets,” the Algorand Foundation said in an X post. The Algorand Foundation said the affected employees were “best-in-class contributors” and described the decision as “incredibly tough,” adding that it would support staff through the…

Hyperliquid’s HYPE token flips Cardano’s ADA in market cap

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Hyperliquid’s native HYPE token has surpassed Cardano’s ADA in market capitalization, a milestone that would have sounded absurd six months ago. A decentralized perpetual exchange token just leapfrogged a blockchain that has been in the top ranks since 2017. The numbers behind the flip HYPE’s market cap has climbed to roughly $10.2 billion, while ADA sits around $10.0 billion, making the lead extremely narrow. Cardano, a project that raised $62 million in its 2017 ICO and has spent years building out a proof-of-stake ecosystem, now trails a token that did…

Kraken pauses IPO plans amid tough market conditions

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Kraken has frozen its multibillion-dollar initial public offering plans, according to a CoinDesk report, marking a shift in strategy just months after confidentially filing with the Securities and Exchange Commission. The exchange is now waiting for market conditions to stabilize before proceeding with what was expected to be one of the sector’s most closely watched listings. The decision follows a period of optimism in November, when Payward, Kraken’s parent company, raised $800 million at a $20 billion valuation, including a $200 million commitment from Citadel Securities. The capital was intended…

XRP Price Bullish Momentum Expands — Market Eyes Next Surge

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

Maestro Debuts Bitcoin Credit Market for Institutional BTC Mining Yield

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Bitcoin infrastructure provider Maestro has launched a Bitcoin-denominated credit market backed by mining economics, aiming to give institutions a new way to earn yield on idle Bitcoin while expanding financing options for miners. Maestro said Mezzamine went live with its first program in partnership with mining-as-a-service provider Sazmining. According to a Tuesday announcement shared with Cointelegraph, the program is designed to let institutional Bitcoin (BTC) holders deploy BTC into mining-backed credit facilities targeting an annual yield of 8% to 9%. The offering is designed to connect miners seeking capital with…

OpenSea Delays SEA Token Launch Amid Tough Market Conditions

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Nonfungible token marketplace OpenSea has postponed the launch of its native token SEA, initially slated for March 30, citing tough market conditions and it not being market-ready. “The reality is that market conditions are challenging across crypto right now, and $SEA only launches once,” OpenSea CEO Devin Finzer posted to X on Monday.  Source: Devin Finzer The OpenSea (SEA) token, announced in October, was touted as part of OpenSea’s plan to transition into a “trade everything” app across multiple chains, which includes perpetual futures.  The SEA token would enable discounted…

OpenSea delays SEA token launch as CEO cites challenging crypto market conditions

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OpenSea is delaying the launch of its highly anticipated SEA token, with CEO Devin Finzer saying the company decided to push back the timeline due to difficult conditions across the crypto market. an update on $SEA. the team has been building at full speed, and the foundation had planned to kick off the first steps as part of our march 30th event. but @openseafdn is pushing back the timeline. a delay is a delay. i’m not going to dress it up, and i know how it lands. the… — dfinzer.eth…

MEXC launches prediction market platform amid surge in event-based trading

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Crypto exchange MEXC announced the launch of its new Prediction Market platform, allowing users to trade contracts tied to real-world outcomes such as geopolitical developments, macroeconomic events, and crypto industry milestones. The product turns global news events into tradable probability markets where traders can speculate on outcomes and adjust risk exposure in real time. MEXC said the platform will offer zero trading fees and millisecond-level execution speeds. Prediction markets have gained rapid traction over the past year. According to data cited by MEXC, leading platforms Polymarket and Kalshi processed more…

Iran War Bets Fuel Prediction Market Surge as CFTC Rule Fight Intensifies

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Prediction market activity has climbed sharply as traders flock to contracts tied to the escalating US-Iran conflict, while Washington moves toward clearer federal rules for event contracts and a legislative push to explicitly bar markets tied to war, terrorism and death. Notional trading volume on Polymarket and Kalshi rose to new all-time highs during the week ending Monday, March 9, to $2.49 billion and $2.85 billion, respectively, according to Token Terminal data. The growing activity has pushed the total notional volume across all prediction markets to $145 billion through 2.8…

Ethereum Price Rockets Above $2,200 as Bulls Tighten Market Control

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Ethereum price started a major increase above the $2,150 zone. ETH is now showing positive signs and might aim for more gains above $2,250. Ethereum started a steady upward move above the $2,150 zone. The price is trading above $2,150 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,250 zone. Ethereum Price Rallies Over 8% Ethereum price extended…