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Source: AdobeStock / piter2121 MakerDAO (MKR), the decentralized organization that manages the stablecoin DAI, will move $1.6bn of its USD Coin (USDC) reserves to Coinbase to earn a yield of up to 1.5%. The proposal to have Coinbase custody part of the MakerDAO treasury was passed by the MakerDAO community on Monday, with 75% of the votes being in favor of the move. The $1.6bn represents one-third of MakerDAO’s treasury – the reserve that allows users to deposit collateral in exchange for being issued the DAI stablecoin. In the proposal, known as MIP81, Coinbase is described as “a longstanding partner” of Maker, and “an established, reputable, and regulated company.” “This MIP outlines a clear path to providing up to 1.5% APY on USDC in the form of USDC Rewards and optimizing liquidity at zero cost to, and industry-leading security for, Maker,” the proposal said. According to the proposal, Maker will not pay any custod...

Cardano’s ADA token continues to navigate the current market downturn, with recent developments giving investors hope that it could see a pump in the long term.  But how high can ADA really go?  ADA Price Action ADA currently trades at $0.3513, marking an uptrend of 0.46% in the past 24 hours. ADA has outperformed the broader market , which is down by 1% in the same period.  However, ADA’s price has failed to break through any of its top moving average (MA) indicators despite the 24-hour increase. It trails every major metric, ranging from the 10-day MA of $0.3522 to the 200-day MA of $0.3530.   ADA’s moving average convergence divergence (MACD) is negative. However, the crypto asset’s reactive strength index (RSI) of 40.48 shows that it is approaching the oversold region, making it perfect for long-term investors.  Buy ADA on eToro Vasil Hard Fork Gives Hope for Long-Term Gains  ADA has some impressive fundamenta...

Cryptocurrency traders have been anxious over the last 24 hours as the market reels from the Consumer Price Index data. During the past 24 hours, the overall cryptocurrency market has dropped by around 2% to $943 billion at the time of writing. As the prices continue to retreat because of the impact of the CPI data release, four cryptocurrencies stand out, and they could create notable gains soon. These cryptos include Ripple (XRP), Terra USD Classic (USTC), Tamadoge (TAMA), and the Impact Project (IMPT). XRP XRP has plunged by 6.6% over the last 24 hours to trade at $0.456 at the time of writing, according to CoinGecko. XRP's current pullback is erasing the coin's gains over the last few weeks. XRP's recent rally has gained 26% over the past month. XRP's trading volumes during the past 24 hours stand at $1.69 billion, showing high investor interest in the token. The bearish sentiment across the broader market could see XRP record a selloff that w...