Paxos Addresses Pax Dollar Depegging, Trader Liquidation
The Pax Dollar (USDP) stablecoin recently lost its peg, causing its price to surge to $1.29 on April 16 before settling at $1.A Paxos representative stated the depegging resulted from pricing aggregator errors, not its protocol.
The depegging occurred during a significant market cap increase for USDP, which briefly rose from $140 million to $181 million when the coin hit $1.29.Despite the temporary price fluctuation, the spokesperson stated that USDP will always remain redeemable at fair value via Paxos.
In a related incident, an unknown trader was liquidated for $529,000 worth of Circle’s USD Coin on April 16, shortly after Pax Dollar surged to $1.18. The Paxos spokesperson advised traders employing different platforms to keep a close eye on the platform’s order book to avoid similar risks. Pax Dollar has occasionally experienced significant price fluctuations. USDP hit as low as $0.87 on March 13, 2020, and rose as high as $2.02 onNovember 16, 2021.
Temporary depegging can lead to market instability and losses. Paxos remains dedicated to ensuring the stability of Pax Dollar. It attributes the recent incident to external pricing aggregator issues rather than issues with the protocol itself.
Binance reportedly plans to re-enter India, paying a $2m fine and complying with local financial and anti-money laundering regulations, as reported by The Economic Times. ▪ Source🔍🔍🔍🔍🔍
The Bankruptcy Court approved a settlement for #gemini and #Genesis to distribute 97% of owed digital assets by early June, with further payments dependent on additional recoveries. Fore more details click on below
🚀 Exploring BNB's Bright Performance on Launchpool! 🚀
📈 Let's Analyze the Details:
🔹 March Purchase: Acquired 111 BNB at $540 each.
🔹 ENA Mining: Mined 1,550 coins, sold 1U each, reinvested 1,550U for 2.67 pieces.
🔹 SAGA Mining: Produced 233 coins, sold 7U each, reinvested 1,631U for 2.76 pieces.
🔹 Prior to $OMNI Mining: Converted all altcoins to BNB, yielding 8.87 coins.
🔹 Total OMNI Participation: Stands at 125.3 BNB.
🔹 Estimated OMNI Mining: Projected to yield 20 coins in four days, with BNB at $580. 💰 Submission Rates for OMNI: - 36U = 1% - 54U = 1.5% - 72U = 2%
⚠️ Consider Selling if BNB Reaches $60 in Uncertain Market Conditions.
📉 Practical Approach: Retain U after selling new currency, then purchase BNB at a lower price.
📊 Conclusion: - While ENA gains are notable, prioritize BNB's resilience.
- As participation increases (16M-17M-18M), prioritize BNB over reinvestment.
💡 Remember: Successful Investing Demands Diligence and Strategy. Let's Navigate the Market Together!
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🤔The question everyone is wondering is how many dollars is #OMNI ?
👉Total supply is 100 million units.
👉The initial circulation supply will be 10 million 391 thousand 492 units.
💸If the market cap is $300 million, it will be $28. 💸If the market cap is $400 million, it will be $38. 💸If the market cap is $500 million, it will be $48.
ℹ️ You can also make price analysis using (marketcap / quantity in circulation).
✍️We see an average mcap of $350 million in coins released with #BinanceLaunchpool$OMNI OTC price is $42, meaning $436 million mcap. It is a very normal price, so I expect it to open at this average price.
📣 Omni Network announced that OMNI tokens on the X platform will be opened for purchase and collateral on April 17, 19:00! Don't miss this opportunity for extra rewards. 💰💰 The number of tokens in initial circulation is 10,391,492.
Additionally, Binance will list Omni Network (OMNI) on April 17 at 20:00 and open OMNI/BTC, OMNI/USDT, OMNI/BNB, OMNI/FDUSD, and OMNI/TRY trading markets.
Upcoming three months are very important: Zero to hero and may be hero to zero: Here's what's coming:
$TAO is set to skyrocket to $1600
$SAGA will surge to $320
$TNSR is aiming for $170
$W will hit $3.5
$ENA is expected to reach $121
$ETHFI will climb to $436
$BOME is projected to pump to $0.50to1
$AEVO will soar to $126
$METIS is targeting $780
$WIF will pump to $19
Note: Note: Please do your own research before making any trades for the atorementioned token outside Binance to avoid any scams. Stay tuned for more updates and must follow. #BinanceLaunchpool#CPIInsights#BitcoinHalvingDrama #BullorBear" #Memecoins🤑🤑
⚠️ **2024 Crypto Price Projections** ⚠️ Get ready for the buzz around 2024 crypto forecasts: - **$Shib**: 🐕 Predicted to reach $5 - **$Pepe**: 🐸 Expected to hit $39 - **$XRP**: 💸 Projected at $2000 - **$LUNC**: 🌙 Estimated to soar to $732 - **$DOGE**: 🐶 Anticipated to skyrocket to $2502 While these projections stir excitement, exercise caution. 🔍 Always conduct thorough research and verify sources before investing. Newcomers often seek advice on lesser-known coins. Remember: education is key. 📚 Prioritize learning and diligence to safeguard your investments. From experience, I advise approaching speculative content with extreme caution. Crypto is famously unpredictable! 🛑 Share your insights if you've encountered similar predictions. 💭 #BullorBear #Memecoins #bitcoinhalving
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