Cryptocurrency
Vader will lock USDV stablecoin, can’t find ‘hack’
The app that produces the USDV stablecoin Vader protocol will be shutting down, according to a Dec. 29 announcement from its developers.
We are terminating the Vader protocol: https://t.co/C3AKHo9URj
Existing Vader Dollars And the American dollar Owners, please visit the webapp for locker clearance: https://t.co/SnRlvpXnaQ
For all technical issues with a claim, please check-in at
channel on discord. – Vader (VaderProtocol) December 29, 2022
The Vader Protocol was a stable coin-operated algorithmic network similar to the failed Terra network. It was supposed to encourage arbitrage to keep USDV equal to $1 always. When tera assets May season From the real-world origins they were supposed to represent, Vader’s team paused the mint functionality of the app. He hoped to prevent users from exposing themselves to any problems that might arise should its stablecoin be removed as well.
Vader’s team said it spent the next six months trying to find a way to fix the app to make it more secure. However, “based on careful research and discussion, the team found no significant progress in designing stable algorithms for capital-efficient currencies.”
They have paused the burn functionality, making it impossible for users to deposit their remaining USDV into the app to redeem their support through the normal redemption process. Instead, the developers created a recovery portal to distribute the remaining locker for the app. They plan to keep this redemption app available until June 2023.
Related: Realized losses from the FTX collapse were smaller than the other Terra crisis
In order to distribute the funds fairly, the developers broke down the liquidity pools of Curve and Uniswap and took snapshots of the existing shares, allowing them to distribute the remaining funds to the holders.
Vader Protocol USDV appears to have been omitted from all major coin price data charges, so it is unclear whether USDV holders will get back $1 worth of cryptocurrency per coin or an amount less.
The collapse of the US dollar tera was among Biggest coding malfunctions In 2022. He caused an infection in the cryptocurrency market, and was a contributor to Closure of Midas Investment Company. Its founder, Do Kwon, lingers accused of infringement Capital markets laws in South Korea but it is not determined by the authorities.
Bitcoin investor sentiment is deadlocked amid price faltering in the market. While the digital asset continues to hold the $16,000 level, investors retreat from the market, ensuring that there is no big move either up or down, and as a result, investor sentiment has not moved.
the Encryption of fear and greed It shows that Bitcoin investor sentiment has not moved much in the past month. He finished November with a score of 29 which put him right in the fright zone but since then he has been unable to break out of that trend.
The score in this indicator over the course of December ranged between 26-30 mostly, maintaining an almost straight line trend over the period. So far, the Fear and Greed Index is at a score of 28 which is up one point from last week’s close of 27.
What this trend in the Fear and Greed Index shows is that bitcoin investors are not willing to take any risk. This is why the indicator could not move into the greed zone. On the flip side, selling sentiment has not been as strong as one would expect during a time like this. If investors were to sell more of their bitcoins, it would be obvious given that the index would slide further. Instead, it continues to maintain a roughly consistent point level, which means that the hold sentiment is now dominating the market.
Bitcoin is still finding it difficult to regain the momentum it lost over the past month. This reluctance on the part of investors to do anything with the tokens has led to the price of the digital asset following the same path as sentiment. BTC has now refused to break out from the $16,000 price level. As a result, Bitcoin’s volatility dropped to all-time lows. So it is likely that the last two days of 2022 will follow the same trend. A recovery should not be expected in any way as the momentum will continue to decline as people take a break from the markets to celebrate with family.
Instead, it is important that BTC holds above $16,000 to close the year. Anything below this level would be very bearish and could lead to more declines in the market as the bears take control. But finishing above $16,000 strengthens investors’ resolve to hold on to their coins.
BTC is trading at $16,519 at the time of writing. Its price has decreased by 0.43% in the last 24 hours and 2.01% in the last 7 days.
Featured image by Finbold, chart from TradingView.com
SEC Head Gensler Discusses Crypto Regulation After FTX Collapse – Says This Field Is ‘Bigly Incompatible’ – Bitcoin News Regulatory Oryen Network is the new face of DeFi, with Pancakeswap and 1 inch showing that sustainable yield is possible. Jules to enter management after failing to secure new funding China will use the cuts at the appropriate time to keep liquidity ample, Reuters reported, citing state media France to release €5 billion in SDRs for countries at risk under G20 programme. By Reuters US Treasury Secretary, Indian Finance Minister Discuss Crypto Regulation – Bitcoin News Regulatory Germany’s central bank, by Reuters, says German inflation will remain in double digits despite the gas price brake Estée Lauder enters the men’s fashion market
Bitcoin investors are still in fear
Fear & Greed Index trends in an almost straight line | Source: alternative.me
Will BTC See A Recovery Soon?
BTC price maintains $16,000 level | Source: BTCUSD on TradingView.com
Source link
Cash support for low-income British families for at least 12 months
Dollar Stable as Investors Await Economic Data, Fed Meeting Minutes via Reuters
The European Central Bank’s interest rate hike exposes concerns about Italy as the weakest link in the eurozone
Pakistan CPI for December rises 24.5% y/y – Statistical Office via Reuters
Economists say the UK is facing the worst and longest recession of the G7
The new energy minister told Reuters that Brazil’s Petrobras will play a leading role in expanding refineries
First: the fatal strike launched by Ukraine on the Russian military barracks
Syria weakens the official exchange rate by Reuters
Brazilian Haddad vows to ‘restore’ public accounts, Reuters
Halting China’s growth cannot be the goal of the West
SEC Head Gensler Discusses Crypto Regulation After FTX Collapse – Says This Field Is ‘Bigly Incompatible’ – Bitcoin News Regulatory
Oryen Network is the new face of DeFi, with Pancakeswap and 1 inch showing that sustainable yield is possible.
Jules to enter management after failing to secure new funding
China will use the cuts at the appropriate time to keep liquidity ample, Reuters reported, citing state media
France to release €5 billion in SDRs for countries at risk under G20 programme. By Reuters
US Treasury Secretary, Indian Finance Minister Discuss Crypto Regulation – Bitcoin News Regulatory
Germany’s central bank, by Reuters, says German inflation will remain in double digits despite the gas price brake
Estée Lauder enters the men’s fashion market
Binance and Kazakhstan sign a memorandum of understanding to identify and block illegal crypto assets
Singtel’s second unit faces cyber attack weeks after Optus data breach by Reuters
