The VeChain Foundation has released its financial report for Q1 2022, showing that the project amassed an impressive $1.2 billion war chest but only spent about $4.1 million in the quarter. VeChain is a layer-1 blockchain project designed to enhance supply chain management, and that supports decentralized apps (Dapp), decentralized finance (DeFi), and nonfungible tokens (NFT). The Foundation’s Tuesday financial report for Q1 2022 outlines its balance sheet as of March 31and how it spent funds through the quarter. Although the treasury opened the year with $1.37 billion in assets between stablecoins, Bitcoin (BTC), Ether (ETH) and VeChain (VET), it …

The similarity in price action between the crypto and traditional financial markets remains quite strong on May 10 as traders enjoyed a relief bounce across asset classes following the May 9 rout, which saw Bitcoin (BTC) briefly dip to $29,730. Market downturns typically translate to heavier losses in altcoins due to a variety of factors, including thinly traded assets and low liquidity, but this also translates into larger bounces once a recovery ensues. Several projects notched double-digit gains on May 10, including a 15.75% gain for Maker (MKR), the protocol responsible for issuing the DAI (DAI) stablecoin, which likely benefited …

Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve's hawkish policies. MATIC price rebounded after undergoing five days of relentless declines, attracting buyers around the same support level that had preceded a 275% bull run last year. A previous retest of the $0.787-level in July 2021 and the 0.786 Fib line (near …

“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the social tokens you should be keeping a close eye on. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the top social token. First up, we have Bourgi with his pick …

Like most new-age networks, Solana was developed to resolve major issues confronting the blockchain industry. While the network has addressed some of these issues by its very nature, it has also encountered a few unique problems. From resource exhaustion to a halt in block confirmation, the Solana network has suffered a number of setbacks that resulted in repeated power outages, causing the network to shut down for hours on several occasions. The network went down on December 4, 2020, about three years after Solana was introduced, causing confusion in the community. The chain appears to have stopped validating new blocks …

As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering TerraUSD (UST), major crypto exchange Binance temporarily suspended the withdrawals for LUNA and UST on Tuesday. The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1.00 price point as LUNA’s price witnessed a sharp decline owing to a major selloff. At the same time, the BTC/UST trading pair on Binance reached highs of more than $42,000, while other Bitcoin dollar markets struggled to preserve $30,000, as reported by Cointelegraph. Which has caused a massive surge in BTCUST (Not …

Bitcoin (BTC) fell below $30,000 for the first time in ten months on May 10 as turmoil at Blockchain protocol Terra continued. Bitcoin price bounces at $29,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD plumbing lows of $29,731 on Bitstamp. The first trip under the $30,000 mark since July 2021, overnight BTC price performance came amid both declining stock markets and fresh trouble for Terra’s United States dollar stablecoin, TerraUSD (UST). As Cointelegraph continues to report, UST saw an attack involving mass-selling this week, which culminated in Terra using its giant 750 million BTC reserves to prop up …

The third-largest stablecoin by market cap, TerraUSD (UST), appears to be in a catastrophic tailspin which has seen it depeg from the dollar and drop to as low as $0.67 on Tuesday. As its price has fallen, so has its market capitalization along with that of LUNA, which backs the majority of the value of UST. Adding further insult to injury, the market cap of UST has vastly surpassed that of LUNA, drawing extreme scrutiny from the crypto community. As of the time of writing, the UST price is $0.78 with a market cap of $14.1 billion, while LUNA has …

According to blockchain digitization provider Tokeny, on Monday, the Royal Museum of Fine Arts Antwerp (KMSKA) became the first European museum to tokenize investment in fine art, starting with Belgian painter James Ensor's (1860–1949) painting, "Carnaval de Binche." Investors can obtain fractional ownership of the work starting from 150 euros (or about $158). The venture is a joint effort between KMSKA, Tokeny and blockchain art entity Rubey, with the tokens, themselves, being ERC-3643 compliant and launching on the Polygon (MATIC) blockchain. As told by the parties, the ultimate goal of the collaboration is to lower the investment barriers to entry …

On Monday, decentralized finance, or DeFi, protocol Compound Treasury announced that it received a credit rating of B- from S&P Global Ratings. As told by the team at Compound, this represents the first time a major credit agency has issued a rating for an institutionalized DeFi protocol. The S&P Global Ratings' investment suitability scale ranges from AAA (extremely strong) to D (in default). A score of B- indicates the issuer can meet financial commitments, though vulnerabilities to business, financial and economic conditions persist. Regarding Compound's rating specifically, S&P Global cites the uncertain regulatory regime for stablecoins such as USD Coin …

Global equity markets extended their decline on May 9 and the S&P 500 fell to a new 52-week low. Bitcoin (BTC) dropped to a new year-to-date low and most major altcoins extended their decline as they tracked the weakness in the stock markets. Data from blockchain analytics firm Glassnode shows that Bitcoin inflows to centralized exchanges have risen to more than 1.7 million coins, the highest since February. This suggests that whales may be dumping their holdings as they anticipate an extended downtrend. Several analysts expect the crypto markets to enter a capitulation phase which generally marks a bottom. Analyst …

Cointelegraph Research conducted a first-of-its-kind survey querying over 2,000 global crypto funds and certificates to gain an insight into their investment allocations during 2021. The survey was conducted via email between March 2021 and December 2021. The 200 funds that responded collectively managed approximately $1.2 billion in cryptocurrency and blockchain investments. Interestingly, the study found that 20 surveyed asset allocators already have exposure to Dash in their portfolio, including Valkyrie, Parallax Digital, Block Ventures, INDX Capital and others. An additional 40 funds reported that they wanted to invest in Dash during the next 12 months, and 70% of respondents requested …