Max E.Fri, Dec 17, 2021 5:15 PM
Bitcoin Dropped Again & Yearn.finance (YFI) Buyback Program
Bitcoin (BTC) "Recovery Rally" Weakened Slightly
Bitcoin price went down early Friday morning after rallying above $ 49,000 on Wednesday after the Fed decided to speed up stimulus withdrawal. Bitcoin price today is $47,126.35 It is down 4.12% in the last 24 hours.
Although the leading cryptocurrency is up 63% since the beginning of the year, it is down 30% from a record high of $ 68,789 on November 10. If in November the market capitalization of Bitcoin was about $ 1.2 trillion, now it is $ 905 billion.
In predicting the next movements in the price of Bitcoin, you should pay attention to such an indicator as the 200-day moving average. A fall in the price of an asset below the 200-day moving average is a bearish signal. Now this figure for Bitcoin is approximately $ 46,000. It is important that Bitcoin continues to maintain support above this level. However, tightening the policy of the US Federal Reserve and global central banks may contribute to a decrease in demand for Bitcoin and other high-risk assets.
Yearn.finance (YFI) Rises Amid Of News Of A Buyback Program
Yearn.finance price today is $27,427.53. YFI is up 30.02% in the last 24 hours.
The rise in the asset price by 19% in 24 hours was influenced by the latest event – Yearn Finance announced a new buyback program. The program was approved by a vote of community members for possible measures to improve the tokenomics of the project.
As part of the program, the project bought back YFI tokens on the open market in the amount of $ 7,526,343.
Thanks to this and the previous buyback, the treasury of the project has funds in the amount of $ 45 million. The project intends to carry out another buyback in the future. The market reacted positively to this news.
BORA (BORA) is up 10.66%
The BORA price today is $1.09. It is up 10.66% in the last 24 hours. BORA is a decentralized entertainment platform for creators, distributors and consumers of digital content.
The catalyst for the growth in the price of the token could be the news of TODAYIS’ soft launch on December 16, 2021.TODAYIS is a blockchain service (time slot NFT service) with a unique concept of selling time by making a time slot that divides a day into 10-minute units and is a digital asset wallet 'clip' accessible through KakaoTalk. BORA is used as a means of trading for NFTs, and an event to commemorate the launch of TODAYIS was held at a 90% discount on the initial NFT sales price.
Arweave (AR) Price is up 6.73%
The live Arweave price today is $47.95. AR is up 6.73% in the last 24 hours. AR is a utility token of the Arweave project, which is decentralized storage, similar to the blockchain. The project has attracted the attention of several big investors, including Andreessen Horowitz. On December 16, it became known that Bundlr Network, which supports scaling on Arweave, has grown significantly and sustains a 1.2m daily transaction count.