The US-based online payment company Circle has denied rumours that its stablecoin, USDC, is having difficulty stabilizing $1. Jeremy Allaire, CEO and Founder of the company, said in a statement on his Twitter account that they have decided to increase information sharing about the main challenges and risks that many crypto asset companies are experiencing. He also stated that they hold fully cash and 3-month term treasury assets in the USDC reserve.
JP Morgan Strategist's Positive Predictions on Crypto Markets
Nikolaos Panigirtzoglou, a JP Morgan Strategist and Chief Executive, said that he thinks the crypto markets are coming to the end of the bear season. Stating that the decrease in leverage positions was the first reason for this idea, he said that the main reason for this idea was that the most important and giant companies of the sector saw it as their duty to control the chaos created by small companies.
Ethereum Gas Fee Drops to Lowest Levels in 20 Months
Ethereum's gas fee, the average transaction fee, has fallen to $2, its lowest level since November 2020. While the decline in the market reduces network congestion is the main reason for this decline, the demand for the Ethereum network remains high.
Positive Development on the Celsius Side
Celsius, one of the crypto companies that are in danger of sinking after the Luna crisis, made an important payment yesterday. Celsius, who has a lot of coins in his hands and accounts, has been constantly on the agenda after the Luna crisis. But yesterday a significant payment was made by Celsius. The company repaid $120 million in debt to the Maker protocol and managed to bring the liquidation price down considerably.
Crypto Regulation Study from the European Central Bank
According to a report by Europe's most established newspapers, the European Central Bank is worried about possible conflicts between the central banks of European Union member states and crypto companies as it prepares to start implementing crypto assets and MiCA (Markets in Crypto Assets).
Crypto Borrowing Institutions Continue to Have Problems
After the LUNA crisis, a new one was added to the problems that started with Celsius and that we heard from many companies afterwards. According to reports, CoinLoan, a crypto borrowing agency, announced that they have temporarily lowered their withdrawal limits.
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