Bitcoin, ETH jumps when stocks become positive on Thursday

Large cryptocurrency assets were traded on Thursday. Bitcoin (BTC) jumped 7.62% to over $ 21,800 while ether (ETH) increased 8.27% in the last 24 hours up to $ 1,284 from 16:00 ET.

In the wake of the release of the Federal Reserve’s minutes on Wednesday, the US dollar continued to strengthen, approaching parity with the euro for the first time since the early 2000s.

US stocks also rose on Thursday, underlining the current strong correlation between BTC and the US stock market. Nasdaq jumped 2.3%, while the S&P 500 and Dow Jones rose 1.49% and 1.12%, respectively.

The concerns of crypto lenders continue. “There will be no price recovery until the dust has settled and each risk company has either gone bankrupt, been acquired or stabilized,” Michael Rosmer, CEO and co-founder of data provider DeFiYield, told Blockworks in an email, referring to the latest wave of errors among crypto borrowers.

“I think there is concern about consolidation in the industry, largely because the industry is proud to promote decentralization. So much of DeFi itself [decentralized finance] Protocols may see this as a kind of call to action to double down and expand their superior loan-borrowing services. After all, DeFi – as opposed to the centralized [centralized finance] lenders – have held up pretty well in this mess, he said.

The DeFi protocol Aave today introduced a proposal to launch a decentralized, security-supported stack coin called GHO.

If approved, Aave said that GHO would “make stablecoin loans on the Aave protocol more competitive, provide more options for stablecoin users and generate additional revenue for Aave DAO by sending 100% of the interest payments on GHO loans to DAO,” “it says in the proposal. . Aaves token has climbed 13.82% in the last 4 hours to $ 71.44.

Online gaming company Roblox’s stock rose 16.2% to $ 39.52 in the last five days. Analysts expect continuous growth in 2023, Yahoo Finance reported.

Jeffrey Halley, senior market analyst at OANDA, said in a note Thursday that gold appears to be swaying after the price broke below $ 1740 per ounce, reaching its lowest this year.

Meanwhile, the further fall of the euro continues to give a volatility warning for both crypto and equities, according to Rosmer. “Germany, Europe’s industrial powerhouse, is facing a dramatic drop in production thanks to Russia’s threat to cut natural gas, and France has just nationalized its national energy company to keep energy costs down,” he said.

“Even more investors will flee to safe assets, which means that without positive news to counter Europe’s economic struggles, investors could be in for further pain,” he added.

The main things

Regulators turn up the volume on cryptocurrencies

• A new report shows that regulators around the world have increasingly issued crypto-related regulatory issues, with over 4666 in the first four months of 2022. Such reports have increased by 7436% since 2018.
• Countries in North America account for 51% of all cryptocurrency-related regulatory issues, followed by 32% in European countries.

Cosmos-based Umee launches first IBC Price Oracle

• The cosmos-based lending and lending platform Umee will soon launch the first price oracle service for Cosmos’ inter-blockchain communication (IBC) protocol, the company announced on Thursday.
• Oracle, known as “Orion”, will be provided by Umee blockchain validators who run software that automatically retrieves price data from a set of centralized exchanges, plus the decentralized exchange Osmosis.

Solana Investor sues project insiders, claims network “highly centralized”

• A Solana investor has filed a class action lawsuit against key parties in the Solana ecosystem, allegedly making misleading statements and profiting from selling unregistered securities to private clients.
• “These promotional measures took SOL values ​​from a relatively obscure cryptocurrency to one of the best cryptocurrencies in the world,” plaintiff Mark Young wrote.

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