Matter Labs, the creators of ZKsync, announced on Tuesday that a community airdrop for their new ZK tokens will start next week. The Ethereum Layer 2 service provider will distribute 3.675 billion tokens, representing 17.5% of the total token supply through airdrops, to about 695,232 eligible wallets. ZK Airdrop Coming Next Week In the release,...Read More
OKX has experienced significant outflows, with $204 million withdrawn in the past 24 hours and $630 million in the past week, surpassing the outflows of other prominent cryptocurrency exchanges. The surge in withdrawals comes from multiple security controversies that may have undermined user confidence. OKX’s Design Flaw On June 9, two OKX users lost a...Read More
United States Senator Elizabeth Warren (D-MA) is calling on the Federal Reserve to lower its interest rate target on Thursday – a move most analysts believe would be a boon for crypto markets. The senator’s request puts her in an ironic alignment with crypto investors, whose industry she has repeatedly tried to stifle with burdensome...Read More
The $4,000 level for ETH price now seems like a distant dream. Ether has remained below its key resistance channels for the last few days, even with the upcoming launch of its spot exchange-traded funds (ETFs) in the United States. Some believe the absence of bullish momentum for ETH comes from uncertainty about the regulator’s...Read More
Bitcoin futures interest tapped an all-time high in US dollar terms on Monday, reaching over 500,000 BTC worth $36.3 billion. Analysts say the overwhelming surge in open interest relates to a clever arbitrage play levied by institutional traders between Bitcoin’s futures and spot markets. The Cash And Carry Trade In a Tuesday newsletter, lead Glassnode...Read More
Since Dogecoin’s debut in 2013, the meme coin market has seen significant growth, reaching a total market cap of $60 billion by June 2024. In March alone, the asset class attracted a whopping $13 billion in spot trading volumes on exchanges, surpassing major blue-chip cryptocurrencies such as Ethereum and Solana. However, this sector is grappling...Read More
Orderly Network, an innovative L2 that offers trading infrastructure, and an omnichain liquidity layer, is gearing up for an exciting summer with the launch of its highly anticipated token. Orderly is making significant strides, emerging as the second most active protocol on LayerZero Labs and the largest, most efficient user of Celestia for data availability....Read More
The weekend dump dragged Litecoin’s price below $80 as the cryptocurrency experienced significant sell pressure. The accumulation over the past couple of weeks failed to drive the price higher, but the latest data suggest two potentially bullish indicators for the altcoin, predicting a recovery. Litecoin’s Active Addresses Spike According to the popular crypto analytic platform,...Read More
Open-source blockchain platform Cardano is about to reach its most significant milestone since its inception: becoming a fully decentralized network with an advanced governance system. According to an X post by the network’s founder, Charles Hoskinson, Cardano Node will reach version 9.0 this month, and the blockchain will be ushered into its next development era,...Read More
A new listing – IOUSDT – the native token of IO.NET, will be available to trade on BitMEX, with up to 10x leverage. Trading is expected to commence at 04:00 UTC, after spot markets have opened on 11 June 2024. For the lowdown on the latest listing, read on. If you haven’t signed up...Read More
With risk assets in the financial sector currently looking vulnerable, market experts have identified economic factors that could put bitcoin (BTC) in a similar light and push it into a “slow bleed environment.” According to a Bitfinex Alpha report, risk assets are beginning to look vulnerable due to concerns that United States authorities may not...Read More
Despite hints of waning hype, the US spot Bitcoin ETFs, including GBTC, had a strong start to June. During the first week alone, these ETFs collectively purchased 25,729 BTC. Data also shows that in January, these ETFs acquired 33,456 BTC, followed by 116,561 BTC in February and 65,456 in March. April, on the other hand,...Read More
Sandwich bots have been wreaking havoc on the Solana network for quite some time. In a bid to crack down on these attacks, the Solana Foundation has decided to remove a group of validator operators from its delegation program. The decision was made due to the involvement of these operators in carrying out “sandwich attacks”...Read More
