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Rari Capital and Fei Protocol Merge Was Approved 

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Today’s Cryptocurrency Headline

On Tuesday, at Ethereum block height 13850929, the proposal for merger Rari Capital and Fei Protocol was approved by the members of both DAOs. The merge will be completed by token swap. A total of 103 addresses have participated in the voting process and the total value locked will become $2 billion after the merger. Based on the agreements of the merger, Rari Capital’s RGT token holder will be able to exchange their token at a rate of 26.7 TRIBE to RGT at any point within a 180-day window. Additionally, TRIBE holders dissatisfied with the deal will have a three-day window to exchange TRIBE for a proportional share of Fei Protocol’s treasury.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to Proshares, Bitcoin ETF BITO, the first Bitcoin exchange-traded fund in the United States, the total asset management of BITO has reached $13.7 billion. BTC is trading around the $49,000 price level, and it has closed above the 200-day exponential moving average (200-day EMA) for two consecutive days. If the bull pushes the price upwards, BTC may recover and test immediate resistance at $51,000.


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