These are the 5 most important news of the last week3 min read
Another exciting week in crypto space is coming to an end. The most important events around BTC and Co. at a glance.
Celsius still in game
Celsius is not defeated yet. The troubled lending service recently issued a statement in which the company is combative. The press release, which is rather sparsely filled with information, states:
We want our community to know that our goal remains to stabilize our liquidity and operations. This process will take time.
Support for the repair process also comes from within the crypto sector itself. Because in a blog post announces the fintech investor Bank to the Future a kind of bailout for Celsius. In it, CEO Simon Dixon writes that he is “very interested in supporting Celsius with a rescue plan.”
You can find out more about the background in this article.
Cardano (ADA) Vasil upgrade postponed
The highly anticipated Cardano (ADA) hard fork “Vasil” has been postponed. That gave Input-Output Global (IOG), the software company behind the cryptocurrency, now in one blog post known.
The reason given by product manager Nigel Hemsley was that the team needed a few more days to evaluate the latest status of the tests.
So far, the start of the Cardano upgrade was scheduled for June 29th. Now IOG and the Cardano Foundation have agreed to postpone it by about a month.
Meet Cardano’s new hard fork Vasil
BlockFi borrows from crypto exchange FTX
BlockFi has raised a $250 million loan from US crypto exchange FTX. That’s what CEO Zac Price explained Twitter.
The lending service wants to use it to meet existing customer requirements. These include: interest and yield accounts as well as loan collateral. With this, BlockFi wants to strengthen its balance sheet and platform.
Solend with liquidity problems: How the community saved Solana
The terror of the total failure of the Terra Network still runs deep. While the entire crypto space is struggling with falling prices, one or the other network has to fear for its survival. Lending protocols like Celsius, BlockFi, and Nexo have been particularly hard hit.
As the name suggests, the Solend platform is a decentralized lending platform on the Solana network. When it too was recently in danger of collapsing, SOL investors were very concerned. The worries had triggered the realization that a Solana whale, which had 95 percent of the SOL tokens deposited in Solend in its wallet, was in danger of being liquidated. Not only would that have brought Solend to its knees, but it would also have put the multi-billion dollar SOL network itself in deep trouble.
Instagram, Twitter and Ebay introduce NFTs
The mood on the NFT market was already better. Gone are the days of blind buying because it said NFT. In January cheated the trading volume on all NFT markets still 17 billion US dollars, 16 billion US dollars less are expected for June – a drop of 93 percent. Internet giants such as Instagram, Twitter and Ebay are nevertheless pushing into the no longer quite so lucrative NFT business.
More news about NFT: NFT overview – Tag Heuer enables display of NFTs on smartwatch…