IMF plans to meet with El Salvador’s president, potentially discussing move to adopt Bitcoin

The International Monetary Fund has said El Salvador’s recent decision to make Bitcoin legal tender in the country may raise legal and financial concerns. In a Thursday press briefing from the International Monetary Fund, or IMF, spokesperson Gerry Rice said the group was already in discussions with lawmakers in El Salvador over a loan to support the country’s economy, having approved emergency funds related to the pandemic last year. However, Rice said an IMF team would be meeting with President Nayib Bukele today and implied crypto would be a likely…

The shadow DeFi conference in Miami! June 2-9

Last week, I made the mistake of being just about the only DeFi denizen who actually went to the Bitcoin 2021 event in Miami.  While I managed to catch up with a handful of builders and big brains in the convention center, my time would have been better spent tracking down degens at the various satellite events, yacht parties, and nightclub meetups — the “shadow conference” for DeFi taking place while boomercoin maximalists talked over the same points they’ve been parroting for the better part of a decade. What little…

Bitcoin price hits stock-to-flow rebound level not seen since 2017 all-time high

Bitcoin (BTC) spending over three weeks in the $30,000 range is proving a crucial test for one of its best-known price models. As noted by Philip Swift, co-founder of trading suite Decentrader on June 11, Bitcoin is issuing a major challenge to the stock-to-flow price forecasting tool. Is it bounceback time for BTC price? BTC price action has hovered in a lower corridor between $30,000 and $40,000 since mid-May. This has worried day traders, while vintage bulls have called for calm and a long-term mindset. As Cointelegraph reported, the stock-to-flow…

Arrington Capital to back Algorand projects with $100M growth fund

Support for the Algorand ecosystem appears to be growing, with digital asset manager Arrington Capital earmarking $100 million for projects building on the smart-contract platform.  The massive Arrington Algorand Growth Fund, or AAGF, has been designed to accelerate additional development across all facets of the smart contract platform, the company announced Thursday. This includes applications spanning the DeFi, traditional finance, public sector and NFT marketplaces. AAGF will invest in an array of Algorand-focused projects, including native cryptocurrencies that drive new financial applications on the network. Arrington Capital was founded by…

Guild of Guardians pre-game registrations hit 133K as NFT sales surge

The community behind Guild of Guardians, an NFT-based role-playing game, appears to be enthusiastic about the forthcoming title after they snatched up nearly all of the NFTs that were part of the so-called founder’s sale.  Since going live earlier this week, Guild of Guardians’ NFT sale has raised over $3 million, the company announced Wednesday. The title raised $2 million in the first hour of the founder’s sale and $2.8 million in the span of 24 hours. The sale featured a collection of playable in-game NFTs ranging from $200 to…

How Extreme Fear In Crypto Correlates With Bitcoin Bottoms

The crypto market is in full fledged fear for the longest phase in more than a year, coinciding with a massive Bitcoin drop of more than 50%. The once trending cryptocurrency has yet to recover, leaving the market and participants in a state of extreme fear. But past data shows, fear is often a good thing for Bitcoin, and helps the asset find support and at least a short term bottom. Bottom Things: Bitcoin Price Action Perfectly Correlates To Fear And Greed Fear is one hell of an emotion and…

1inch releases composable Limit Order Protocol

Today, decentralized exchange and liquidity aggregator 1inch announce the launch of the 1inch Limit Order Protocol. The new feature boasts 5 different security audits, and will enable users to buy or sell assets at specific price targets on Ethereum, BSC, and Polygon. The new feature will also be able to interact with smart contract logic, and be able to execute orders based on oracle data.  Limit orders were previously available to the DeFi ecosystem through a variety of protocols including Gelato and 0x, the latter which 1inch utilized. However, the…

Polygon committing $10M to reach 1M users using 0x API

The network onboarding a large number of decentralized applications aims to hit one million users through 0x’s decentralized exchange liquidity aggregator API. In an announcement today, Polygon said its project would be committing $10.5 million towards securing decentralized finance infrastructure on its network through the support of developers and projects. The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem” with initial support offered for Matchaxyz, Dexguru, Dexkit, MyCrypto, Set Protocol, Zapper.fi and Zerion. Last month, 0x released a Polygon version API for its…

Bullish Bitcoin newsflow gives bulls a boost ahead of Friday’s $565M options expiry

On Friday, June 11, a total of $565 million in Bitcoin (BTC) options are set to expire. This is significant because the last couple of weeks have been a massive deception for bulls. After all, the price was struggling to sustain the $33,000 support. However, an unexpected bullish turn of events led to an 18.5% hike from the $31,000 low on June 8 to $38,491 today. This strong move saved the bulls because any level below $34,000 would have wiped 98% of the current call (buy) options. Who saved the…

Sotheby’s auction sets new world record for $11.8M CryptoPunk sale

Luxury auction house Sotheby’s made waves on social media on Thursday following the sale of one rare CryptoPunk. In a tweet from Sotheby’s, the auction said CryptoPunk #7523 — also known as “COVID Alien” — sold in its London salesroom for roughly $11.8 million. According to the auction house, this sale represents a new world record for a single CryptoPunk artwork. CryptoPunks, which predate the bulk of the nonfungible token (NFT) craze in 2021, are often small, pixelated depictions of people, apes, zombies and aliens. Sotheby’s announced the sale of…