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Luna Foundation Guard Under Fire, Korean Authorities Tells Exchanges To Freeze Assets

According to reports, South Korean police have asked exchanges to ‘freeze’ the assets of the Luna Foundation Guard (LFG), a non-profit organization that supports the Terra (LUNA) cryptocurrency. Luna’s Non-Profit Under Scrutiny The Seoul Metropolitan Police Agency asked multiple exchanges in the country to prevent LFG from withdrawing funds on Monday (May 23, 2022), according […]

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Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

Lido TVL or total value locked, toppled over to new high lows seen in the third week of this month following the bearish movement of the DeFi market. LDO has shaved off over 58% of its TVL, which registered an all-time high of $20.4 billion on April 6 but dropped down to roughly $8.6 billion on May 22. Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing Lido, a liquidity staking solution, targets orienting people towards staking. It has zero minimum staking requirements which is a great feature, to begin with. The users can freely stake assets in exchange for daily rewards. A couple of applications and services connected with Lido comprise Anchor Protocol, Curve, MakerDao, 1inch, StakeEther, Ledger, and SushiSwap Onsen. Lido TVL Down 17% LDO’s TVL has been dramatically slipping due to the overall crypto market crisis going on for several months now. Its TVL on Ethereum was at $10.32 billion on April 6. After reducing investor interest, its TVL decreased 17% or equivalent to $8.47 billion on May 22. Meanwhile, its TVL on its all-time high on Terra was at roughly $9.66 billion. However, the figures dropped 99% on May 22, or approximately $14,870 in six weeks.    LDO TVL on Solana used to be hovering at $417.17 million, but it went down by nearly 70% or roughly $126.24 million on May 22. LDO total market cap at $395 million on the daily chart | Source: TradingView.com Lido TVL on Moonriver was at $2.57 million during the height of dApps popularity. However, when investor interest waned, the values also crashed by 27%, equivalent to $1.86 million seen in that same period. After crashing by more than $11 billion, LDO has been demoted from the ranks close to MakerDAO and Curve. LDO Still Superior In TVL On the flip side, despite Lido’s drop in terms of TVL, it still is superior in TVL compared to Convex Finance, JustLend, Aave, SushiSwap, Uniswap, Instadapp, PancakeSwap, Compound, and Just Lend. It opened on April 6, trading at $4.27. However, the coin dropped on May 12 at $1.23 and seems to be not going over the $1.33 mark today. Looking at those figures, this would give you as much as a 68% loss in LDO price in just six weeks. Suggested Reading | Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In Polygon Launch This Month Lido is currently the leading Ethereum liquid staking solution that comprises a large share of over 80% in that space. Moreover, assets staked on Lido are divided into 76,000 crypto wallets and worth $10 billion based on prevailing prices. Lido also promotes liquid staking on Terra, Kusama, and Solana blockchains. Lido’s launch this month on Polygon is in the works. Lido is governed by a DAO or equivalent to all the holders of Lido’s token, which collectively makes decisions in the blockchain. Featured image from BitRss.com, chart from TradingView.com

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Ripple (XRP) Plunges To $0.43 With Bears In Full Swing

Ripple (XRP) has plummeted to $0.43, with bears now skyjacking the market following a tremendous drop in the past week. While the price seems to have improved in the past couple of days, the bulls have somewhat shoved bears to their current market movement. The past week did not look suitable for Ripple traders and investors as XRP collapsed to a drop of 42% and closed at $0.4255. The entire week was seen to drift following a bearish movement which dropped to $0.4018 before it regained momentum to $0.4123 for the week. This indicates an oversold token that implores the potential of an uptrend. Suggested Reading | Bitcoin Reclaims $30K Territory After Recent Weeks’ Struggle – Analysts Weigh In Will Ripple Dash Towards A Bullish Streak? However, the token price is yet to produce a higher low and a higher high to authenticate the created moment, which in effect points out that bulls will have to nudge the price of XRP to $0.65 before it instigates a new bullish trend. XRP is expected to dash to a bullish trend as things go down. However, the bullish streak can be short-lived as a result of the current market situation. The technical oscillator’s value would show you that the token has ticked off the lows in the charts (hourly, daily, and weekly). It falls right under both the 50-day and the 100-day Exponential Moving Average. It is an escalation of the buying pressure that could ram the price to shoot, targeting the 50-day exponential moving average even before it tests at the $0.50 mark. XRP total market cap at $20.5 billion on the daily chart | Source: TradingView.com Ripple Price Descending For Good? In different circumstances, the drop of XRP indicating a bearish shift could trigger the coin to go on with a new downtrend. If XRP breaks under the current low value, it will test the low of $0.40. While every token strives for decentralization, Ripple wholly owns XRP and wants to be the coin that aims for bank adoption. Ripple is also a payment gateway as much as it’s a cryptocurrency. It’s one of the pioneering tokens in the crypto space created by Ripple Labs in 2012. Suggested Reading | Cardano (ADA) Grapples At $0.524; Bullish Trajectory Coming Ripple is the brainchild of Chris Larsen and Jed McCaleb. Four years after its launch, the company acquired BitLicense from New York to ensure that XRP remains robust despite the volatility. However, Ripple has dipped to 21% because of crypto turbulence and is still struggling to keep up with the pace. Featured image from YouTube, chart from TradingView.com

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Top Analyst Predicts Relief Rallies in Bitcoin (BTC), Ethereum (ETH) and One More Large-Cap Altcoin

A popular crypto analyst who continues to build his following with timely altcoin calls says that relief rallies are approaching for Bitcoin (BTC), Ethereum (ETH) and an additional large-cap crypto asset. The pseudonymous analyst known as Kaleo tells his 509,000 Twitter followers that Bitcoin is currently being greatly affected by sell-pressure in the equities markets. […]

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