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Produced by Daniel Aharonoff & Mogul Media AI

Cryptocurrency Market Update: Bitcoin and Ethereum Trends

Cryptocurrency Market Update: A Slight Cool Down Today, the cryptocurrency market experienced a brief cooldown, with total market capitalization dipping by 1.14% to $2.76 trillion, according to data from Coingecko. This minor correction comes on the heels of significant fluctuations in the market over the past few days, as Bitcoin and Ethereum encounter resistance at crucial price levels. Bitcoin: A Test of Resistance Bitcoin, the world’s foremost cryptocurrency, has been striving to surpass the formidable \(70,000 barrier. Despite reaching a daily high of \) 71,754, it subsequently corrected to $69,793, reflecting a 1.2% decline. This resistance level has historically led to corrections that ripple through the broader crypto landscape. Current Market Performance : Daily High: $71,754 Current Price: $69,793 Recent Flash Crash Low: $60,760 Interestingly, Bitcoin's overall performance remains bullish, recovering from the recent flash crash on BitMEX. The daily candle...
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Produced by Daniel Aharonoff & Mogul Media AI

Unveiling dYdX Foundation's $30 Million Funding Request from DAO

The dYdX Foundation has recently made a significant request for funding from the decentralized autonomous organization (DAO) that governs the project. Seeking $30 million over the next three years, the Foundation aims to secure 4% of the DAO's current treasury. If approved, this funding would eliminate the need for annual budget reviews. The proposal has garnered substantial support and is set to proceed to a vote.

Key Points:

  • dYdX Foundation seeks $30 million in funding from the DAO
  • Request is for a 3-year period
  • Foundation aims to secure 4% of the DAO's current treasury
  • Approval would exempt Foundation from submitting annual budgets
  • Proposal has widespread approval and is moving towards a vote
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