This Week on StakeCube, 11th of March 2023

Will post proper report on Listing Hive on Stakecube project later. As for now let's get some info from Stakecube sphere of interest.

Crypto Markets Update

The past two weeks have been quite terrible for the Crypto markets, with Bitcoin prices once again trading around the $20,000 level. The problems started with the bankruptcy of Silvergate, a bank that offered cryptocurrency services. As it seems, it was comments made by some politicians that ended up causing a bank run. But things didn’t end there, as later this week we got news of a second bank, SVB, which is going through a similar situation. However things are a bit different for SVB, as it is the 14th largest in the United States, and contagion to other financial institutions is likely. The whole drama has also caused almost every stablecoin to depeg, since there is uncertainty about the capacity to access the funds that are backing their value. This is the case of USDC for example, which is backed to some extent by deposits in SVB.

For the moment it is difficult to understand the repercussions of all these events, but they are likely to be big. For one thing, it is widely perceived that the root of the problem is the Fed’s quantitative tightening policy. Faced with the collapse of several large financial institutions, the Fed will once again come under pressure to pivot and relax their monetary policy. Markets are anticipating that this will probably happen, even though inflation is still far from the 2% target. It is just very difficult to imagine that the Federal Reserve would allow for a total collapse of the financial system, just to stay true to their mandate of controlling inflation.

StakeCube in Numbers

Big increase in Pool Value, which is nice to see in an environment where almost every single Crypto is crashing. Exchange volume also had a pretty decent increase this week.

User Count: 155,655 +0.31%
Pool Value: 84.50 BTC +22.84%
SCC Price: $0.033 -13.16%
SCC Market Cap: $408,604 -11.87%
Daily Exchange Volume $5,646 +9.61%
Daily SCP Transactions: 15 +0%

Final Autoclaim Vote

At Final Autoclaim they’re hosting a vote for “coin of the month”. If you’re a SCC holder and community member, we encourage you to vote for SCC to help increase our reach and the number of SCC claims!

This is the poll:

https://strawpoll.com/polls/xVg7j1AOpnr

You can also sign up using our referral link to give us some help:

https://bit.ly/SCautofaucet

Coin Refunds

Our efforts to refund the missing coins continued last week with 10,000 additional DASH and 500,000 DOGE. Many of you chose to leave those funds on StakeCube, and we want to thank you for your vote of confidence. There are still 11,000 DASH on the platform, which allows us to run a few masternodes and pay out earn rewards.

Space Token Staking on StakeCube

In collaboration with Final Autoclaim, we will start offering Earn rewards to SPACE holders on StakeCube. Final Autoclaim offers something called “on-chain staking”:

https://autofaucet.dutchycorp.space/interest/flexible.php?pair=SPACE_onchain

Using a custom automated solution, we are able to use our SPACE balance to generate rewards. Staking in this way, we have access to the full bonus and an APY of 51.6%. Might be a good time to grab some tokens and enjoy the rewards!

First distribution day will be this Sunday.

Source: https://stakecube.info/this-week-on-stakecube-11th-of-march-2023/

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