and the broader cryptocurrency market fell nearly 10% on Saturday, with the price of the largest digital asset briefly falling below $62,000 before recovering to around $64,000 as of press time.The decentralized finance sector has been hit particularly hard as a result of the market chaos, with depressed prices forcing liquidations and raising the potential of havoc for some protocols.
Among the protocols being closely watched is Ethena, the buzzy Ethereum project behind USDe, a"synthetic dollar" built to mirror the price of the US dollar. Ethena has attracted more than $2 billion in deposits, but it uses a controversial method for maintaining USDe's one-dollar"peg" that hasn't been tested under such adverse market conditions.last week that dollar liquidity would drop right before tax payments are due in the U.S. on April 15 – this coming Monday.
Crypto market prices began to recover after the X account associated with Iran's Permanent Mission to the United Nations said"the matter can be deemed concluded," though it warned of a"considerably more severe" attack"should the Israeli regime make another mistake."in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin pre-halving correction narrative strengthens as BTC falls below $62KWith Bitcoin down nearly 15% from its peak price, analysts are predicting further volatility leading into the halving event.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: CoinDesk - 🏆 291. / 63 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »
Source: nbcchicago - 🏆 545. / 51 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »