Maple Finance shows risks of Crypto lending without collateral.
Maple Finance, the largest unsecured crypto lending platform, is grappling with a debt crisis while gearing up for a major system upgrade. The project’s MPL token has plunged, and depositors are likely to stomach big losses.
Coinbase Global stock is a falling meat cleaver.
Cryptocurrency platform and exchange Coinbase Global stock has fallen alongside the crypto market and the price of bitcoin. However, things got worse after the FTX disaster as it hit new all-time lows of $40.15 last week. The year-end tax loss selling is underway as investors reconsider the merits of cryptocurrency.
FalconX discloses assets locked on FTX.
Crypto trading firm FalconX said it has a portion of its assets locked on failed crypto exchange FTX. “FalconX balances locked on FTX represented 18% of our unencumbered cash equivalents. This ratio was within our counterparty exposure limits,” FalconX said.
BTC/USD gained 0.5% in the last session
The Bitcoin gained 0.5% against the Dollar in the last session. According to the Williams indicator, we are in an overbought market. Support is at 169671 and resistance is at 173651.
The Williams indicator points to an overbought market.
ETH/USD exploded 1.1% in the last session.
The Ethereum-Dollar pair skyrocketed 1.1% in the last session. The ROC gives a positive signal. Support is at 1244.091 and resistance is at 1292.471.
The ROC is currently in positive territory.
XRP/USD rose 0.7% in the last session.
The last session saw the Ripple gain 0.7% against the Dollar. According to the CCI, we are in an oversold market. Support is at 0.3724 and resistance is at 0.3927.
The CCI is signalling an oversold market.
LTC/USD traded sideways in the last session
The Litecoin-Dollar price remained largely unchanged in the last session. The Williams indicator is giving a negative signal. Support is at 74.9967 and resistance is at 79.1367.
The Williams indicator is giving a negative signal.
Daily Economic Calendar:
JP Machinery Orders
The Machinery Orders measure the total value of machinery orders placed at major manufacturers. Japan’s Machinery Orders will be released at 23:50 GMT, the UK’s Claimant Count Change at 07:00 GMT, and the US Consumer Price Index at 13:30 GMT.
UK Claimant Count Change
The Claimant Count Change presents the change in the number of unemployed people in the UK.
US Consumer Price Index
The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services.
DE ZEW Survey – Current Situation
The ZEW Survey – Current Situation measures the current institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and pessimistic. Germany’s ZEW Survey – Current Situation will be released at 10:00 GMT, the UK’s ILO Unemployment Rate at 07:00 GMT, and the US Consumer Price Index Core at 13:30 GMT.
UK ILO Unemployment Rate
The ILO Unemployment Rate is the number of unemployed workers divided by the total civilian labor force.
US Consumer Price Index Core
The Core Consumer Price Index (CPI) measures the changes in the prices of goods and services, excluding food and energy.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
