At the time of press, Bitcoin is trading at $52,098. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,817.
Let’s find out some interesting crypto news for today.
Crypto.com exchange announced lending of additional crypto assets, including DOGE, UNI, and YFI as loan currencies. As per the official blog, users will get the option to borrow and secure DOGE, UNI, and YFI loans against their crypto assets. Moreover, users can monetize their crypto assets through lending. Further, users will get enhance payback facilities such as partial or full payment any time without early repayment fees. Additionally, users can also deposit DAI as collateral and get access to a loan-to-value (LTV) ratio of up to 50%. Notably, to utilize these lucrative features, users need to complete advanced level verification.
Orion Protocol partnered with COTI to induce limitless liquidity to the COTI network. Moreover, COTI offers a unique DAG-based protocol and infrastructure that is scalable, fast, and low cost, which intends to solve issues of both centralized finance and DeFi. Besides this, COTI-X is powered by numerous liquidity pools, and it is the instant settlement layer on the COTI network. COTI Pay can process both online and offline payments including crypto, stablecoins, and many more. Therefore, Orion Protocol will become a COTI Pay Merchant to enhance the fiat onramp to Orion Terminal through the integration of ORN into COTI’s fiat processing gateway and wallets. Additionally, users can unlock a lot of benefits with this integration, such as loyalty points, cashback rewards, quick and safe payments, zero FX fees, and buyer-seller protections.
PayPal announced its intention to acquire Curv to extend its support towards cryptocurrencies and digital assets. According to the press release, the financial terms of this deal are not disclosed. However, the team has an expectation to complete this acquisition in the first half of 2021. Moreover, Curv is a leading provider of cloud-based infrastructure for digital asset security, and its multi-party computation (MPC) technology provides protection to institutions. Impressively, PayPal started to bolster the cryptocurrency space last year, and the team keeps on adding new milestones since then. Hence, this acquisition will further join the digital assets with the global economy to boost the ecosystem.
In the last bit of crypto news for today, we have the Uniswap exchange coin (UNI), which has exploded over 50% in the past 7 days. At the time of publication, UNI was trading close to $32.89. Before that, it surged from $16.94 to a high of $34.75 since February. Moreover, the explosion in the DeFi space and Uniswap V3 development news fueled its market cap to over $17 billion. In addition, this price surge boosted UNI Coin to hit a historical milestone and to become the eighth-largest cryptocurrency by market capitalization.
As per technicals, if UNI stays above $33, then its next target is $38 and then $46. However, if UNI is unable to sustain current support and breaks below 20-day EMA, then it can further drop to $22 and $19.50 levels.
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