Steve Cohen, a hedge fund billionaire whose move to invest in crypto startup Radkl made headlines across Wall Street, has reportedly ditched the investment, according toBloomberg.
Cohen invested in the crypto company in September last year.
Radkl still ‘well capitalised’
A Radkl spokesperson confirmed the report, the publication noted, noting that despite the exit of the founder of hedge fund firm Point 72 Asset Management, the startup remains in a good position capital-wise.
The source also claimed the quantitative trading platform, which launched its services in 2021, is still ‘well-capitalised’ and has major support from existing investors. The startup is also seeing significant growth, the report quoted the spokesperson as saying.
Radkl is a firm that sprouted off GTS, the New York Stock Exchange market maker and offers new prop trading functionality for digital assets. The platform experienced massive growth amid last year’s bull run, but like the larger crypto market, hit some lull amid the crypto winter.
Part of its growing pains include the exit of its pioneer managing director Jim Greco and three others. Jason Bell, Allan Erskine, and Beatrice O’Carroll have all exited over the past seven months.
As well as Radkl, Cohen’s other crypto investments include NFT project Recur and participation in a funding round for blockchain analytics provider Messari
The price of Wing Finance token has been on the rise in the past few days, especially since Thursday, July 28. The price skyrocketed to hit a high above $53 on Friday, July 29 before taking a major dive to its current price of $16.69. WING token has gained about 167.8% over the past 7 days and it is still bullish.
Nevertheless, investors believe that last week’s price hike is a pointer that the WING token could jump to higher highs in the coming days. After all, it is currently trading at more than triple its price on July 27, which is about five days ago.
To help investors and traders who want to take advantage of the Wing Finance token especially now that it has dropped from its Friday’s high, Coinjournal has created this brief article to help with identifying the best places to buy WING tokens.
To find out more, please continue reading.
Best places to buy Wing Finance token
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Wing Finance, commonly just referred to as Wing, is a credit-based, decentralized platform that is designed for crypto-asset lending and cross-chain communication between Decentralized finance (DeFi) projects.
It aims at making crypto lending services more inclusive via a credit evaluation module that eliminates the need for use of collateral in borrowing. It also allows for the creation of new blockchain projects.
Wing uses decentralized governance (DAO) coupled with a risk control mechanism to develop a relationship between creditors, borrowers, and guarantors. This has increased the number of projects using the platform and also increased accessibility to crypto lending and borrowing services to users
Wing has successfully managed to tackle the problem of over-collateralization that plagues the DeFi industry by using the Wing DAO. The DAO has built a credit-based DeFi protocol that runs on the Ontology (ONT) blockchain and it allows users to also take part in the decision-making, operations, and product design processes.
Should I buy the WING coin today?
If you are looking for a cryptocurrency that has shown signs of taking off in the coming days, especially in the wake of the recent crypto market meltdown, then Wing Finance could be a good choice.
Nevertheless, you should take caution since the crypto market is extremely volatile as just witnessed with WING over the weekend where its price rose to above $53 and dived below $20 in a matter of five days.
Wing Finance price prediction
A majority believe that Wing Finance the hike on Friday was just a warm-up and it could be poised for a major take off especially following the rising activity on the Wing platform.
Wing platform recently launched the Wing NFT Pool and announced the Wing x Flamingo Joint Event and Wing Polkapets NFT Airdrop Update.
All eyes are on a target price of $60 before the end of this week.
Wing Finance social media coverage
🚨UPGRADE ANNOUNCEMENT #Wing Flash Pools are undergoing an upgrade from 3:00 am on 1st August for optimization of $WING distribution model. 🙌
Aave DAO, the Aave DeFi protocol’s governing body, in voting that ended today has voted in favor of a proposal by Aave Companies to the DAO for the introduction of GHO.
In the three-day voting process, the GHO stablecoin proposal was supported by 99.99% of all the voters (501,000 AAVE token holders).
The GHO will be administered by Aave governance through an AIP and 100% of interest payments on GHO borrows will also be sent to the AaveDAO. However, it will be up to the AaveDAO to decide if it will support the Aave Companies for the cost and work on the GHO.
Minting the GHO stablecoin on Aave
Following the community approval, GHO stablecoin will be launched on the Aave Protocol. Aave protocol users will be able to mint the GHO stablecoin against a wide range of crypto-assets. In addition, those who borrow GHO will also continue to earn interest on their underlying supplied collateral.
Aave users have the liberty of depositing any of the cryptocurrencies accepted on the platform as collateral for minting the GHO stablecoin. Besides the deposits serving as collateral for minting GHO stablecoin, the deposits will also generate yield for the Aave Borrowers who take out GHO stablecoin loans.
Just like the MakerDAO’s DAI, Aave wants the GHO to be an over-collateralized stablecoin meaning more GHO tokens will be created compared to the value of the deposited cryptocurrencies.
Earlier on, the founder of Aave, Stani Kulechov, stated that they would try promoting organic acceptance of the GHOstablecoin on Layer 2 of Ethereum.
By approving the proposal to launch the GHO, Aave has basically set itself on a path to join the likes of MakerDAO and other DeFi stablecoin issuers in launching stablecoins. Another protocol that has expressed the intention of launching a stablecoin is Curve Finance.
A proposal to have the Aave DAO introduce a decentralised, multi-collateral-backed stablecoin dubbed GHO, has passed following a community vote, Aave Companies hasannounced.
According to the platform, the USD-pegged stablecoin received a greenlight from the DAO community with an overwhelming support of 99.99%.
The community has given the greenlight 🟢 for GHO 👻 The next step is voting on the genesis parameters of GHO, look out for a proposal next week on the governance forum https://t.co/ba4oK50Wb8
The GHO proposal came out on 7 July this year, with the governance vote required to allow for the launch of the decentralised stablecoin on the Aave Protocol.
In the request, the Aave Companies said the algorithmic stablecoin would allow community participants to mint the token against their collaterals. Accordingly, GHO had been envisioned to be backed by assets the users choose and would see borrowers continue to earn interest on whatever they put out as collateral.
When borrowers repay against their collateral, the Aave Protocol will burn the GHO associated with that account.
“If approved, the introduction of GHO would make stablecoin borrowing on the Aave Protocol more competitive, provide more optionality for stablecoin users and generate additional revenue for the Aave DAO by sending 100% of interest payments on GHO borrows to the DAO,” the Aave Companiesproposal offered.
The governance vote began on 28 July after a snapshot a day earlier, and closed on 31 July with 99.99% of the 1,793 total votes giving the proposal a thumbs up. The approval now sets the GHO stablecoin onto the next step, which will involve a vote on the token’s genesis parameters.
A proposal for the same is expected this coming week and will be posted on the Aave DAO governance forum.
The flagship cryptocurrency, which remains above the $24,500 level despite a brief lull late Saturday, is also on track to record its best monthly performance in nine months.
With gains of over 23% in July, BTC/USD is positioned to see its monthly returns the best since seeing nearly 40% in October 2021.
Bitcoin is also registering a positive monthly return for the first time since March when the 30-day performance stood at around 5.4%. Over the three months of April, May and June, Bitcoin price fell by almost 68%, which leaves July as a very good month for bulls.
On-chain, exchange macro outflows have continued as hodlers dug in amid the crypto winter. According to Glassnode, exchange balances have fallen to just about 12.6% of circulating supply, representing 2.4 million BTC.
#Bitcoin balance on exchanges continues its macro decline, reaching 12.6% of the Circulating Supply (2.4M $BTC).
Exchange balances have now seen a macro outflow of over 4.6% of the circulating supply since the March 2020 ATH.
Bitcoin’s latest upside followed a broader market reaction to the US Federal Reserve’s rate hike last Wednesday, and mirrored gains across the US indexes where the S&P 500 closed the week more than 4% higher and Nasdaq ended with +4.7%.
Over the month, the S&P 500 gained more than 9%, while the Nasdaq added over 12%.
