Cryptocurrency Markets and On-Chain Ecosystem Developments

Focuses on market developments across Bitcoin, Ethereum, and major digital assets, covering public blockchain ecosystems, DeFi, stablecoins, institutional participation, regulatory policies, and industry innovation to help readers understand key trends and shifts in the global cryptocurrency market.
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Bitcoin OG investors' sell-off volume dropped to 962 coins, a new low since November 2024

CryptoQuant analyst on June 23 posted on X the latest on-chain data showing that the 90-day average spending volume of Bitcoin long-term holders (OG investors) who have held coins for more than 5 years has dropped to 962 coins, breaking below the 1,000 coin mark, the lowest level since November 2024. The analyst said that this group of investors chose to continue holding rather than selling at Bitcoin's price level of around $62,500. CryptoQuant Data: OG Investors' 90-Day Average Selling Volume
MarketWhisper·06-25 05:52
比特幣OG投資人拋售量創新低

Abracadabra Launches Emergency Plan After MIM Stablecoin Crashes

Abracadabra, the decentralized finance lending protocol behind the Magic Internet Money (MIM) stablecoin, launched emergency measures after MIM fell more than 50% below its $1 peg. The protocol is raising interest rates across its lending markets to encourage borrowers to repay loans and reduce MIM's circulating supply. Crypto-backed stablecoins can face instability when liquidity dries up or large holders exit liquidity pools, despite being backed by excess collateral. Abracadabra Raises Intere
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DanielCarter·06-25 05:43
Abracadabra Launches Emergency Plan After MIM Stablecoin Crashes

Abracadabra Launches Emergency Plan After MIM Stablecoin Crashes to $0.49

Abracadabra launched emergency measures in mid-June after its MIM stablecoin crashed from $1 to approximately $0.49 (a loss of over 50%), according to the protocol's official statement. The protocol is raising interest rates across its lending markets to encourage borrowers to repay loans and reduce MIM's circulating supply. A previous $100,000 liquidity injection into Curve Finance on June 15 failed to prevent the depeg from worsening. At press time, MIM has recovered to $0.95 as the emergency
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GateNews·06-25 05:42
Abracadabra Launches Emergency Plan After MIM Stablecoin Crashes to $0.49