Bitcoin Crypto News

Crypto Regulators From 5 Countries Identify A Potential $1 Billion Ponzi Scheme

In recent months, investing in cryptocurrencies has been challenging. The emerging market has been shaken by radically shifting prices, collapsing assets, and a variety of economic challenges. Since November, as the price of bitcoin, the most popular cryptocurrency in the world, has declined, so have the values of currencies that were once considered safe and […]

Crypto News

How Can the Rise in Fuel Price Be Turned Into a Good Investment?

The oil industry has had a chaotic two years. Crude oil prices were down early in the COVID-19 pandemic; nevertheless, the price has now topped $100 per barrel. Moreover, the worldwide benchmark, Brent crude oil, is currently trading above $111 per barrel. There has been a considerable rise in gas prices worldwide because of the rise in oil prices. If prices continue to rise, as many economists predict, it would stifle economic development, induce decreased consumption, and, in some situations, spark political instability. The increasing gasoline costs have already sparked fatal riots in nations such as Kazakhstan, Iran, and Zimbabwe. And, the significant factors for this have been the rebound in fuel consumption since the height of the coronavirus outbreak and supply difficulties in the aftermath of Russia’s invasion of Ukraine. Even analysts at JP Morgan Chase & Co and Bank of America have predicted that the Russian disruption will send oil prices up to $185 per barrel. Reasons for Rising Fuel Prices Oil has had a history of more significant fluctuations in price than any other asset. The Organization of Petroleum Exporting Countries, or OPEC, is the primary driver of oil price changes. Second is the supply and demand rules. Prices fall when supply exceeds demand, and vice versa when demand exceeds supply. The current instability is because of Russia’s conflict in Ukraine, which has caused crude oil prices to climb over $100 a barrel. Further, crude oil prices have risen rapidly over the recent weeks as the US and its western allies implemented severe sanctions on Russia. As a result of this, citizens’ lives are affected due to fuel prices’ direct impact on increasing inflation. Even the cost of other essential products has increased drastically, leaving people devastated. Making the Most of Rising Panic Rising fuel costs are putting economies under a lot of pressure. Many are worried about how it will affect the cost of other essentials rather than focusing on how to benefit from the situation. Some solutions can aid in these situations, and specific DeFi projects, such as Duet Protocol, offer them a unique approach called synthetic asset collateralization. Users have to provide liquidity to the protocol, which will be utilized to generate synthetic assets. For example, a user can provide liquidity and choose to mint dWTI, a synthetic asset whose price is pegged to WTI crude oil. And with this asset, users can earn rewards and other utilities within Duet’s ecosystem. Moreover, the platform allows users to mint synthetic assets like Oil futures, stocks, commodities, ETFs, Indexes, and Real-estate by providing capital to its reserve. These assets, represented as dAssets, can be traded in swaps (DEX), staked to earn rewards, or held in wallets to gain exposure. And, the benefits of holding them instead of their physical equivalents is that they provide greater liquidity, high-speed transactions, easy accessibility, transparency and low transaction fees. Minting Synthetic Assets on Duet Protocol Duet’s Synthetic assets are divided into two categories, stablecoin and dAssets(synthetic assets including but not limited to synthetic index, synthetic commodities, synthetic real estates, synthetic inverse asset, synthetic leverage asset, etc).  Currently, dUSD, dWTI and dXAU are the only dAssets supported with more of them coming soon. The process of minting these assets includes users providing collateral. Duet accepts more than a dozen high-quality assets such as wBTC, ETH, USDT, DAI, LTC, etc. as collateral. Interestingly, Duet Protocol accepts assets unique in the DeFi world as collateral. It includes LP tokens in large swap protocols and deposit certificate tokens in the credible lending protocols to enhance the efficiency of users’ funds and the composability of protocols. While minting Synthetic assets is just one part of the protocol, the platform will also facilitate the listing of creative synthetic assets, such as synthetic stablecoins that track the inflationary level and NFTs. Anyone will be able to list these assets permissionless with the help of oracle providers like Chainlink, Band or Uniswap. This makes Duet Protocol the infrastructure for collateral treasury, satisfying liquidation demands while also assisting with regulatory compliance. In addition, Duet will create a unique market-making mechanism using synthetic assets with high liquidity and trade volume. This eliminates the need to incentivize liquidity providers with tokens and allows for arbitrage between TradFi and DeFi to sustain the protocol’s liquidity. And, as a result, all “buying orders” on-chain will be dealt directly. Volatility Is All That Matters The best investments are made during volatile times. Economic conditions keep fluctuating for various reasons, and one should take advantage of these opportunities. The current state of rising fuel prices may be an ideal time to invest in some assets. And, synthetic assets from Duet Protocol, may be worth considering, given its rewarding mechanism. The current war scenario and interest rate hikes may last for a long time, but it is up to people to seek out and grab opportunities.  


Wanted: Conti Hackers – US Dangles $15 Million For Info On Russian Cybercriminals

The United States offered a reward of up to $15 million for information on the Russia-based cybercrime organization Conti, which has been accused of cyber-extortion attacks around the globe, State Department spokesman Ned Price said. The Conti hacker organization, one of the most successful and vicious Russian ransomware groups, has been responsible for hundreds of […]

Bitcoin Crypto News

Cryptocurrencies Won’t Save Russia From Dodging Sanctions, Moody’s Says

It has been argued that Russia may avoid Western sanctions for invading Ukraine by using cryptocurrencies. However, is it viable? The small scale of the cryptocurrency market restricts Russia’s capacity to use cryptocurrencies to bypass international sanctions, according to credit rating agency Moody’s. Analysts predict that sanctions will prompt the Russian Federation to create alternatives to […]

Altcoins Analysis Bitcoin Blockchain

World’s Largest Asset Manager Debuts Blockchain ETF

ProShares Bitcoin ETF To Go Live Tomorrow, Marking Major Milestone For Crypto World

BlackRock has launched an ETF to enable investors to gain exposure to the growing blockchain space. The asset managers have also tipped the blockchain industry to drive irreversible change in various fields. The BlackRock Blockchain And Tech ETF On Wednesday, trillion-dollar asset manager BlackRock launched a blockchain ETF as part of their megatrend lineup. BlackRock […]

Bitcoin Crypto News

Binance Bans Accounts Tied To Russian Gov’t Officials’ Relatives – Will It Hurt Them?

Crypto asset exchange of digital assets Binance has suspended accounts with ties to Russian government officials’ relatives. Faced with escalating international sanctions in response to Russia’s invasion of Ukraine, the trading platform stated that it will continue to screen customers for connections to sanctioned persons. Binance suspended the daughter of the Kremlin spokesman’s account when […]

Bitcoin Crypto News

Number Of Bitcoin Millionaires On The Rise As Accumulation Continues

Bitcoin millionaires are now a widely understood term. This has grown from the massive surge in the price of the digital asset which has continued to decrease the number of BTC required to be a millionaire. A number of bitcoin millionaires had lost their status when the price of the digital asset had declined. However, as bitcoin is recovering, these millionaires have been growing in number but data shows that the increase in price is not the only driver. Accumulation Is The Name Of The Game The price of bitcoin had declined significantly following the Russian invasion of Ukraine. This had seen a considerable number of bitcoin millionaires lose their status. But since then, there have been more investors being added to the millionaires’ list. Related Reading | Bitcoin Futures Basis Nears One-Year Lows, How Will This Affect BTC? Santiment notes in a new report that the number of bitcoin addresses had been on a steady increase since the way between Russia and Ukraine had started. Not only had the number of addresses been on the rise but whale addresses have been rising. These addresses which hold between 10 to 100k BTC on their balances which were either existing or new had been able to reclaim their millionaire status. 🦈🐳 The number of #Bitcoin addresses has been increasing since the #RussianUkrainianWar began. Since then, there are 1,629 shark and whale addresses holding between 10 to 100k that are either new or have returned to this millionaire (or above) status. 📈 — Santiment (@santimentfeed) April 27, 2022 Usually, the obvious culprit for the number of bitcoin millionaires growing can be a surge in price. This drastically increases the value of the tokens held. However, with the price of BTC now making any significant recoveries recently, there is another reason for this and that has been accumulation. The chart from Santiment shows that these investors have been accumulating BTC at an accelerated rate. This accumulation had seen a sharp increase at the end of March before falling but the whales are once again picking up momentum as the month of April draws to a close. So instead of regaining their millionaire status by waiting for the price of BTC to go up, these whales have been buying more coins. This also follows the recent trend of daily active addresses picking up on the network. Network transaction volume is also up in this regard.  Bitcoin Turning Bullish Bitcoin had lost its footing at $40,000 earlier in the week. This had caused a stir among bears as they tried to drag down the price of the asset. BTC had continued to hold above its $36,000 support level, serving as a bounce point for its recent recovery. BTC trading in the mid $39,000s | Source: BTCUSD on Currently, bitcoin is trading above the 5-day moving average. An indicator that proves that investors are now willing to purchase the digital asset higher than the prices they bought days ago. This can often spell a shift in sentiment for investors but only for the very short term. Related Reading | Bitcoin Drops To $38K After Amazon Retraction On Accepting BTC Payments BTC still needs to hold above $39,500 though as this remains a critical spot for it. A failure to secure the price above this point could see the digital asset retest the $35,000 in the coming days before any sign of recovery is registered. Featured image from Altcoin Buzz, chart from


How Uniswap Will Block Wallets Connected To “Clearly Illegal” Activities

The company behind the development of the popular automated market maker (AMM), Uniswap Labs updated its policy regarding blocking wallets from accessing the decentralized application (dApp). Per an official post, Uniswap’s front end will be blocked to users associated with criminal activities. Related Reading | Russia To Legalize Crypto Payments, But Proposal Causes Internal Concerns The […]