Monat: April 2023

• Dash price outlook after SEC lists tokens as securities in complaint against Bittrex.
• DASH/USD traded nearly 6% lower on Monday, with the 24 hour losses coming after the SEC news.
• Cryptocurrencies were also down after Bitcoin and Ethereum retreated from recent highs.

The prices of Dash (DASH) and Algorand (ALGO) traded lower as the SEC’s complaint against cryptocurrency exchange Bittrex listed the tokens among others as securities.

DASH price was down 5.8% on Monday afternoon (around 1:15 pm ET) as it traded near $58.19.

Dash price outlook- why is DASH down?

As CoinJournal reported earlier, the SEC claims that Dash, Algorand, OMG Network, TokenCard and Naga investors had reason to expect profits for their investment. As such, the tokens should have been registered as securities. 

The regulator has charged Bittrex and its former CEO William Shihara for violating US securities laws.

Amid recent buy pressure, DASH/USD had traded from lows of $54 on 12 April to hit highs of $62. It was the token’s highest price since 24 March 2023 when it traded above $63,

However, with news of the SEC’s complaint against Bittrex, Dash has retreated from intraday peaks. The dip sees DASH down more than 96% from its all-time high of $1,493 reached in 2017. During the last bull market, the price of Dash rose to $444.

The DASH market today did not just suffer from the news from the SEC. Earlier in the day, the broader crypto market had shed some of recently accumulated gains as a correction materialized. This after Bitcoin retreated from its recent pump to above $31,000 and altcoins that had briefly thrived in the wake of Ethereum’s breakout to above $2,100 also cooled off.

While the view is bullish, Bitcoin price prediction suggests a retest of $28,800 as support is possible. In that case, a further dip for DASH could happen and see the price of the privacy-centric token head towards $54. 

The Dash daily RSI indicator is dipping downwards near the 50 mark, while the MACD is showing weakness after last week’s strong move.

The post Dash price prediction: Here’s why DASH is down today appeared first on CoinJournal.

• The new decentralized exchange will offer peer-to-peer cross-chain swaps.
• The DEX will not depend on any intermediaries.
• The exchange combines privacy, resilience, and cross-chain compatibility.

Sovereignty and privacy maximizing currency Decred (DCR/USD) has today launched the latest version of its decentralized exchange.

The new version of decentralized exchange DCRDEX 0.6 will use a combination of privacy, resilience, and cross-chain compatibility to offer direct peer-to-peer cross-chain swaps without any kind of intermediaries, solving key problems around privacy and security. This makes it the first exchange to offer direct P2P swaps without using intermediaries.

New features introduced on DCRDEX 0.6

The most prominent new feature on DCRDEX 0.6 is the introduction of USDC and Ethereum. Users will have access to direct layer 1 atomic swaps without the need for an intermediary, utility token, or third-party arbitration.

When swapping from an asset like BTC, the funds are locked in a native contract of the user’s creation that is never spendable by a third party, only the swap participants.

In addition, the DEX offers P2P swaps between Ethereum and other layer 1 chains like Decred and Bitcoin among others without the use of centralized pools or crypto wallets.

All the features on DCRDEX 0.6 ensure users maintain full custody of their funds throughout the swapping process.

The new version of the exchange also introduces native wallets for Bitcoin Cash and Litecoin. Just like the Bitcoin and Decred wallets previously available on the exchange, the two newly added wallets are built on the privacy-preserving light wallet technology introduced by BIP157/158 and transact directly on P2P networks, providing a high level of privacy and security while keeping the system requirements and sync times reasonable.

The DCRDEX 0.6 also eliminates the previous one-time registration fee and replaced it with time-locked fidelity bonds. Instead of completely parting with some funds when registering, users will now lock up funds on-chain for a certain amount of time after which the bond expires and the user redeems it.

The post Decred launches DCRDEX 0.6, the latest version of its decentralized exchange appeared first on CoinJournal.

• At press time, the price of Kyber Network Crystal v2 (KNC) had dropped 2.26% today.
• Kyber’s Elastic product’s TVL has plunged to $61 million yesterday.
• Kyber Network has advised liquidity providers to withdraw funds

The Kyber Network Crystal v2 (KNC) took a hit today after Decentralized finance (DeFi) Kyber Network advised its liquidity providers to withdraw funds citing market vulnerability. The token had dropped by more than 2% at the time of writing.

The protocol advised its KyberSwap Elastic product liquidity providers to withdraw funds after finding a potential vulnerability. Kyber confirmed the potential vulnerability via a tweet although it noted that no product has been affected and no funds have been lost so far.

KyberSwap Elastic TVL drops

On Sunday, Kyber Network’s KyberSwap Elastic product had $108 million in total value locked (TVL). However, that figure had dropped to about $30.88 million on Monday according to DefiLlama.

The news comes at a time when vulnerabilities and exploits have become rife across the DeFi space. The most recent hack includes the $196 million Euler Finance hack, the $23 million Bitrue exchange hack, and the recent Yearn Finance hack.

In 2022, Kyber Network was also hit with a $265,000 exploit.

The post Kyber Network price dips after withdrawal alert appeared first on CoinJournal.