Australia-based Digital Surge Exchange Placed Under Administration

Brisbane-based crypto exchange firm Digital Surge confirmed its collapse days after suspending operations. Digital Surge announced halting all deposits and withdrawals, citing contagion from the FTX debacle.  The crypto exchange set shop in 2017 to allow Aussies access to over 300 digital currencies. Headquartered in Brisbane, Digital Surge admitted using the embattled FTX’s platform to …

The post Australia-based Digital Surge Exchange Placed Under Administration appeared first on Tokenhell.

Seed Phrase, Explained

What is a seed phrase, and why is it important? A seed phrase is your last resort when it comes to accessing the keys to your crypto. Should you ever get locked out of or lose your crypto wallet, your seed phrase can get you back in. But, lose the seed phrase, and the crypto is … Read more

Yearn Finance: What The Final Quarter Of 2022 Has In Store For YFI Price

Yearn Finance (YFI) has performed relatively well over the last 30 days, painting its charts in green despite the lingering uncertainty in the crypto market. According to information from Coingecko, at press time, the ERC20 governance token built on the Ethereum blockchain is changing hands at $7,087, going up by 5.7% during the past week and tallying an impressive 15.7% jump on its bi-weekly gauge. Here’s a quick glance of YFI performance: YFI is experiencing a significant decline in its daily trading volume Yearn Finance could fall all the way down to $6K within the next few days The altcoin could start 2023 with a bullish run to reclaim the $8K territory However, the altcoin’s technical indicators, specifically its Relative Strength Index (RSI) and Chaikin Money Flow (CMF), on its 4-hour chart doesn’t give much for traders to desire as they indicate a potential bearish run for the asset. The RSI settled below the 50-neutral zone at 48.97, suggesting that selling pressure increased and a lot of buyers veered away from the asset. Meanwhile, Yearn Finance’s CMF fell into a negative value of -0.07 – an indication of a weakened buying activity. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department Source: TradingView Daily Active Addresses Count And Trading Volume Decline Along with the above-mentioned technical indicators, some developments concerning the cryptocurrency and its network pointed towards a bearish momentum. During the previous week, the number of unique addresses that traded Yearn Finance decreased sharply, going down by 41%. In fact, at the time of this writing, there were only 248 wallets monitored to have participated in YFI transactions. While the cryptocurrency’s spot trading price went up by 3% over the last 24 hours, its trading volume took a hit as it became lower by 25% during the same period. With these, there is a need for a significant uptick in demand for the crypto asset for another increase in value to be triggered as buyers in YFI market appear to be exhausted. However, it would seem that the digital currency could not catch a break as even in that particular department, it is showing signs of struggle. According to latest data, at the moment, only 59 new addresses were present at the network – 48% lower than what was observed within the last eight days. Chart: Santiment Coincodex Forecasts YFI At Over $8K By 2023 Although Yearn Finance’s short-term trajectory looks bleak, it is expected to have a strong start for the year 2023. According to the predictions of online crypto data information aggregator Coincodex, the digital asset is expected to decline significantly within the next five days and will eventually change hands at $$6,094 by December 15. Related Reading: Solana Price Falls Below $14 – Does This Signal A Gloomy Week For SOL? Chart: Coincodex However, the altcoin is expected to bounce back and reclaim its losses just few days after the expected price dump. By January 9, 2023, YFI is seen to trade at $8,891. YFI total market cap at $258 million on the daily chart | Featured image – Altcoin Buzz, Chart: TradingView.com 

Senator Elizabeth Warren Supports Bill That Gives The SEC Increased Oversight Over Crypto Assets

According to the latest Semafor report, the popular Democratic Senator and crypto critic, Elizabeth Warren, is looking to sponsor several crypto-related bills. The bills will cover crypto issues related to national security, legislation, taxation, and the environment. According to sources familiar with the matter, the Senator made the moves following the recent FTX collapse. Also, …

The post Senator Elizabeth Warren Supports Bill That Gives The SEC Increased Oversight Over Crypto Assets appeared first on Tokenhell.

Coinbase takes a shot at Tether, encourages users to switch to USDC

United States-based cryptocurrency exchange Coinbase has asked its customers to convert their Tether-issued USDT  USDT $1.00 stablecoin to USD Coin  USDC $1.00, a USD-pegged stablecoin issued by Circle and co-founded by Coinbase in 2018. The cryptocurrency exchange suggested that USDC is a much more secure alternative in the wake of the FTX collapse saga and has also exempted any fee […]