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According to an onchain metric, litecoin is currently trading at discounted prices . Litecoin’s MVRV Z-score (market value to realized value) was negative as of press time. According to analytics company Glassnode, a score below zero indicates that the cryptocurrency’s fair value is lower than its current market price. Market capitalization is calculated using the price of the cryptocurrency multiplied by the number of coins. The realized value, a variation on the market capitalization, adds up the value of coins at the time they were last transferred onto the blockchain. The realized value excludes coins that have been removed from circulation (more then 15%), and it is said to represent the fair or real value of the blockchain.

The stablecoin market is shrinking and it is unlikely that crypto prices will recover until this trend stops. The U.S. crackdown on cryptocurrency, the disruption of banking networks in the crypto-ecosystem and the fallout from last year’s FTX collapse all weigh on the stablecoin world.

Bloomberg reported on Friday that digital asset financial services company HashKey Group plans to raise money at a valuation of $1 billion. According to the Bloomberg report, HashKey, a company based in Asia, is in initial talks to raise $100 million to 200 million. The report cited sources familiar with the situation. Hong Kong has been re-emerging as a crypto hub in recent months, and the firm wants to take advantage of this. Hong Kong wants to attract crypto companies to its shores to generate more capital and investment after restrictions related COVID took their toll.

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DeFi Research

  • The chart created by DeFi analyst Ignas, a pseudonym, shows that currently there are eight decentralized autonomous organisations (DAOs), whose Treasury holdings are less than their tokens’ market capitalization. Treasury balances include their own coin holdings.
  • According to Ignas these DAOs could be targeted by so-called RFV Raiders or supposed activist investors who are looking to takeover the DAO in order to manipulate the token price for financial gain.

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Stephen Alpher edited the book.