Anchor, the flagship savings protocol of the Terra Luna (LUNA) ecosystem, has seen its reserves decline by 35.7% in the past seven days according to Terra.Engineer. Since the beginning of December, the amount of Terra USD Stablecoin (UST) held in the "terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8" smart contract has declined by over 50%, with only $35.7 million remaining.As a … [Read more...] about Anchor protocol’s reserves head toward depletion due to lack of borrowing demand
reserves
Rio De Janeiro to Allocate 1% of Treasury Reserves to Crypto: Report
According to Pedro Paulo, Rio de Janeiro's finance secretary, the city plans to apply discounts to tax payments made with bitcoin. "You take the single quota discount of 7%, it would make 10% if you pay in bitcoin," Paulo said, adding that the administration needs to study the legal framework. Source link … [Read more...] about Rio De Janeiro to Allocate 1% of Treasury Reserves to Crypto: Report
Canadian Miner Hut 8 Closed 2021 With $220M in Bitcoin Reserves
Canadian crypto mining firm Hut 8 (HUT) had 5,518 bitcoin (approximately $220 million at current prices) in its reserves on Dec. 31, 2021, according to a Wednesday press release.Nasdaq-listed Hut 8 follows a “hodl” strategy, meaning it keeps all of the bitcoin it mines in its custody, essentially betting that their value will increase in the long term. The reserves represent a … [Read more...] about Canadian Miner Hut 8 Closed 2021 With $220M in Bitcoin Reserves
Crypto miner Hut 8 surpassed 5K Bitcoin held in reserves
In its third-quarter earnings release, Canadian cryptocurrency miner Hut8 announced that it surpassed the goal set earlier this year of holding 5,000 Bitcoins (BTC) in reserves through mining. Its Bitcoin balance now amounts to 5,053, for a total market value of $430 million.During the quarter, Hut 8 generated 50.34 million (CA$) (worth around $40 million) in revenue and … [Read more...] about Crypto miner Hut 8 surpassed 5K Bitcoin held in reserves
Coinbase’s Bitcoin reserves drop to the lowest level since December 2017
Bitcoin (BTC) revisited weekly lows on Sep. 1 as the new month got underway with a fizzle rather than a bang.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin lingers in "price stability"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $46,530 on Bitstamp overnight, its lowest since Aug. 27.With $50,000 out of reach, price … [Read more...] about Coinbase’s Bitcoin reserves drop to the lowest level since December 2017