BTC has dropped to its lowest price level for seven weeks, hitting $39,500 during Tuesday morning’s Asian trading session. The 3% daily decline has increased the size of the BTC pullback to 18.5% from its Jan. 10 high of $48,500. Moreover, analysts have predicted that the correction could continue and be as deep as 30%,...Read More
An unidentified individual recently suffered a significant loss of aEthWETH and aEthUNI, totaling $4.2 million, falling victim to a crypto phishing attack that leveraged a falsified ERC-20 permission signature. According to the Web3 security firm Scam Sniffer, the victim unwittingly signed approvals for multiple transactions using an ERC-20 authorization manipulated by an opcode contract to...Read More
Chris J Terry, a crypto market analyst, has recently predicted that Bitcoin’s (BTC) price could either remain stagnant or decline until the $25 billion liquidation of GBTC is finalized. Mike Novogratz, the founder of Galaxy Digital, holds a different view. He argues that despite the anticipated GBTC sell-offs, most investors will shift their focus to...Read More
Defunct crypto exchange FTX may be behind a tsunami of outflows from the Grayscale Bitcoin Trust (GBTC) this month – and by extension, may have caused a significant downturn in Bitcoin (BTC)’s price. A recent report from CoinDesk suggested that the FTX bankruptcy has sold off close to $1 billion worth of GBTC since the...Read More
Grok, an AI chatbot with access to tweets from all over X and programmed to be as snarky as possible, is the principal product offered by xAI. The company is Elon Musk’s response to OpenAI – which he also co-founded. However, he later left after disagreements with Sam Altman and others over how to develop...Read More
Crypto industry leaders are pillorying a new U.S. government report claiming that digital assets can help criminals flout federal sanctions law. In a blog post from the U.S. Government Accountability Office (GAO) last Tuesday, authors asserted that foreign states working against American interests – including Iran and North Korea – “are using digital assets to...Read More
Tether (USDT) reserve on Bitfinex has seen a significant increase owing to whales on the platform. According to CryptoQuant’s analysis, the whales on Bitfinex have opted to close their leveraged positions, leading to a substantial surge in the USDT reserve on the platform. This strategic move has garnered attention, shedding light on intriguing aspects of...Read More
Digital asset investment products experienced modest withdrawals of $21 million last week. However, this overall figure doesn’t reflect the significantly elevated trading activity, with Bitcoin alone witnessing trading volumes of $11.8 billion. This amount is seven times higher than the typical weekly trading volume observed in 2023, according to the latest report by CoinShares. US...Read More
Arthur Hayes, the co-founder of the BitMEX cryptocurrency exchange, has adopted a pessimistic view of Bitcoin, predicting a decline in its value below the $40,000 threshold. ` In response to this outlook, Hayes has acquired put options set with a strike price of $35,000, set to mature on March 29. BitMEX Co-Founder Invests Put Options...Read More
Ondo Finance, a U.S.-based issuer of tokenized securities, is suspected of selling 20 million ONDO tokens, resulting in a notable 13% decline in the currency’s price within a short timeframe. The situation raised concerns with an X crypto enthusiast doing further investigation into the token sale. Large ONDO Token Transfers Trigger Price Drop According to...Read More
The Singapore-based firm, which was behind the collapse of the TerraUSD stablecoin ecosystem in 2022, listed assets and liabilities in the range of $100 million to $500 million, according to a Jan. 21 filing with a bankruptcy court in Delaware. Moreover, the number of creditors is between 100 and 199, according to the filing. The...Read More
Ethereum continues to be the number one blockchain among crypto developers, with more than 70% of new contract codes first deployed on the network, according to the latest report by Electric Capital. Also, there has been a spread in the distribution of developers globally, with more crypto devs living outside North America, as opposed to...Read More
Despite a challenging market and waning trust in centralized crypto entities, Binance Labs disclosed 25 new investments in 2023. In the latest report, Binance Labs primarily focused on decentralized finance (DeFi), Web3 gaming, tooling, and infrastructure throughout the year. In the DeFi sector, Binance Labs invested an undisclosed amount in the lending and borrowing protocol...Read More
In a recent publication, Morgan Stanley’s Head of Digital Assets, Andrew Peel, has cautioned about a potential “paradigm shift” in the perception and use of digital assets, emphasizing its potential impact on the U.S. dollar’s global dominance. Peel highlights that the rising interest surrounding assets such as Bitcoin, the surge in stablecoin volumes, and the...Read More
A recent study by CoinGecko reveals that over 50% of all cryptocurrencies listed on the platform since 2014 have met their demise. Of the 24,000+ cryptocurrencies listed on CoinGecko since 2014, 14,039 have been deemed ‘dead’ or ‘failed.’ Most Dead Coins Linked to 2020-2021 Bull Run The study, which analyzed the fate of these digital...Read More
Roughly a week after the United States Securities and Exchange Commission (SEC) approved the first wave of spot Bitcoin exchange-traded funds (ETFs), BTC investor demand in the country has slumped. According to a weekly report from market intelligence platform CryptoQuant, the weak BTC demand from U.S. investors is evident in crypto exchange Coinbase’s premium turning...Read More
Crypto market analysis platform CoinGecko has provided a breakdown of the industry’s growth in 2023 amid optimism and anticipation about several events this year, including the recent approval of spot Bitcoin exchange-traded funds (ETFs) and the upcoming Bitcoin halving. According to the report, the market witnessed substantial growth in several areas, including decentralized finance (DeFi),...Read More
Increasing interest rates, regulatory actions, financial insolvencies, and instances of fraud have significantly contributed to shrinking the overall digital asset economy in the past year. The world’s second-largest stablecoin – USDC – wasn’t immune to these forces either. The total circulating supply has declined from approximately $45 billion to about $25 billion by the conclusion...Read More
El Salvador made history by becoming the first nation to embrace Bitcoin as a legal tender more than two years ago. Although the country’s financial outlook has seen positive developments, a recent study carried out by José Simeón Cañas Central American University unveiled a mixed sentiment regarding the correlation between the adoption of Bitcoin and...Read More
The latest TokenInsight report reveals that 2023 witnessed shifts in market share and trading volume among top exchanges, with Binance’s numbers decreasing from 54.2% to 48.7% while OKX’s and Bybit’s increasing by 4.3% and 2.2%, respectively. Binance, Upbit, and OKX occupy the top three positions in total annual trading volume, while Binance, OKX, and Bybit...Read More
Perhaps the most important development in terms of global validation for BTC in its 15-year-long history came last week when the US Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs to be traded on financial markets. These approvals were long-anticipated by the crypto community, as well as traditional investors, but they...Read More
In the last month, there has been a notable increase in crypto trading in South Korea. Kaiko’s latest analysis reveals a substantial surge in Bithumb’s Bitcoin volume, even though zero-fee trading was introduced several months ago. The trading volume of the flagship crypto asset on the platform appears to be approaching a whopping $3 billion....Read More
Manta Network (MANTA), a blockchain project aiming to expand its reach in the Asian market, has found itself entangled in a controversy surrounding allegations of money laundering following its recent listing on the South Korean exchange Bithumb. The controversy emerged when DeFi enthusiast Definalist took to Twitter, suggesting potential misconduct by Manta Network on the...Read More
In a recent discussion with CNBC, Grayscale’s CEO, Michael Sonnenshein, shed light on the company’s decision to offer the highest fee among the 11 issuers of spot Bitcoin ETFs in the United States. Amid this 1.5% fee, Grayscale’s newly converted spot Bitcoin ETF has attracted the most substantial trading volumes compared to other issuers. Sonnenshein...Read More
Metamask launched Validator Staking support on its wallets as of January 18. Users who wish to stake their tokens will need to have at least 32 ETH in their wallets to do so, which is the minimum requirement of the Ethereum network itself. Introducing Validator Staking on MetaMask Portfolio.🦊 With a 32 ETH deposit, we...Read More
Following its initial hostile outlook on the spot Bitcoin exchange-traded fund (ETF), the South Korean government may be giving a second thought to its stance on the financial product. This movement is driven by comments from Sung Tae-yoon, the recently appointed South Korean Presidential Chief of Staff, and an analysis from the Industrial Bank of...Read More
Crypto exchange HTX was again targeted by malicious actors on Friday – this time through a Distributed Denial of Service (DDoS) attack. Despite a short-lived outage, crypto billionaire Justin Sun has reassured followers that the exchange’s website has been restored, and all user’s funds are “SAFU.” Sun, who acts as an advisor to HTX, is...Read More
Ripple CEO Brad Garlinghouse has expressed his validation of the United States Securities and Exchange Commission’s decision to authorize financial institutions to offer investors spot Bitcoin exchange-traded fund (ETF) products. In a recent interview with FOX Business, the Ripple boss noted that the approval from the financial regulator is a step closer to bringing cryptocurrencies...Read More
The U.S. Securities and Exchange Commission (SEC) has extended the deadline for making a decision on Fidelity’s proposal for a spot Ethereum exchange-traded fund (ETF) to March 5, as indicated in a filing on Thursday. This delay coincides with the submission of five other applications for leveraged Bitcoin ETFs seeking approval from the SEC. SEC...Read More
Solana Mobile’s latest crypto-enabled smartphone, Chapter 2, has set a new record for preorders, surpassing the entire first-year sales of its predecessor, Saga, within its first 30 hours of the announcement. The company reported 25,000 preorders in the initial 24 hours, and by the 30-hour mark, the number had skyrocketed to 30,000. Affordable Pricing and...Read More
