• 29 May, 2024
News

BTC FOMC, Chiliz Chain 2.0, Sui, Coinbase, & Liquid Staking Drive Crypto Momentum

Cody Buffinton, the YouTube presenter at Altcoin Buzz News, recently shared insights on what’s buzzing the Cryptoverse. Cody commented on BTC (Bitcoin) FOMC (Federal Open Market Committee) meeting, Chiliz Chain 2.0, liquid staking, Sui, and Coinbase’s new global exchange.

Cody mentioned the announcement made by J.P. Morgan to buy the now-collapsed First Republic Bank (FRC) leading BTC to fall to $27,600. Referring to stock market analyst Edward Moya’s argument, Cody noted that the steps taken immediately after the collapse of the FRC showed that the United States (U.S.) was ready to deal quickly with the banking sector crisis.

The host commented that analysts awaiting the $25,000 BTC correction pointed out that pullbacks might ensue to measure the purchasing power after the $25,000 breakout. At press time, BTC is trading at $29,102.62, as per CoinMarketCap (CMC).

Further, Cody said the sports blockchain Chiliz’s (CHZ) 2.0 mainnet is going live in eight days. Announcing the CHZ mainnet release, Alexandre Dreyfus, CEO of Chiliz, tweeted:

He also noted the total value locked (TVL) of liquid staking (LS) platforms, such as Lido ($11.71 billion) and Rocket Pool ($1.48 billion), has crossed the TVL of decentralized exchanges (DEXs). While the LS platforms’ reported combined TVL stood at $18.15 billion that of DEXs was $18 billion, as per DefiLlama.

Moreover, he noted the cryptocurrency exchange Coinbase’s announcement on the launch of its global cryptocurrency exchange—the Coinbase International Exchange (CIE). Coinbase tweeted:

Additionally, Cody Buffinton said that Binance CEO Changpend Zhao (CZ) issued a warning to Tron founder Justin Sun. CZ issued the Sui Airdrop Misuse warning regarding a deposit of $56.1 million in True USD (TUSD) by Sun to Binance.

Justin Sun issued an explanation in response to CZ’s warning saying that it was merely a market-making facilitation exercise by Tron DAO Venture. He further clarified that some of his team members were unaware of these funds’ intended utility, and hence participated in exchange campaigns.

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