The world of cryptocurrency prides itself on decentralization, but recent data has shown a concerning trend towards centralization among some of the top altcoins. Projects like Polygon (MATIC) and Shiba Inu (SHIB) have emerged as prime examples, with a high concentration of holdings among the top wallets, raising alarms about the potential risks involved. Santiment’s
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Ethereum co-founder Vitalik Buterin has once again made headlines in the cryptocurrency community by transferring a significant amount of ETH. These transactions have sparked debates and raised questions about the role of ETH as a store of value, as well as the transparency of the Ethereum Foundation’s operations. Vitalik Buterin recently moved 800 ETH, valued
Floki Inu (FLOKI) recently experienced a significant drop in price, with a decrease of nearly 20% on a daily scale. The meme coin is currently trading around $0.0001272, and its market capitalization has fallen to $1.23 billion. This decline in value has caused Floki Inu to slip from its position among the top 5 meme
The past week has been a rollercoaster ride for Bitcoin, starting with a surge to over $64,000 on Saturday after positive developments in the US. However, things took a turn for the worse as the week progressed. By Wednesday, Bitcoin had lost over $7,000 in value, dropping below $58,000 for the first time in weeks.
Elon Musk, the CEO of Tesla Inc., recently won the dismissal of a high-profile $258 billion lawsuit accusing him and his company of manipulating the price of Dogecoin (DOGE), the popular meme-based cryptocurrency. U.S. District Judge Alvin Hellerstein ruled in favor of Musk and Tesla, dismissing the claims made by a group of disgruntled investors.
The cryptocurrency market is known for its volatility, with prices fluctuating rapidly based on a variety of factors. In recent days, the seven-day chart showed some interesting movements among major crypto assets, with most top coins experiencing a downturn. However, one notable exception was Popcat, a meme coin that saw a significant surge in price,
The recent actions of the US Securities and Exchange Commission targeting various cryptocurrency platforms have caused quite a stir in the industry. The latest platform in the line of fire is OpenSea, a popular NFT marketplace. The CEO of OpenSea, Devin Finzer, took to social media to express his disappointment in the regulator’s move, sparking
The world’s largest cryptocurrency exchange, Binance, recently announced the addition of new trading pairs and services to its platform in an effort to enhance user experience and respond to ongoing market trends. These new additions include DOGS/BRL, DOGS/USDC, RARE/BRL, and RARE/USDC on Binance Spot. Additionally, Binance will also be offering trading bot services for various
Cardano, the blockchain network founded by Charles Hoskinson, is on the brink of a major upgrade that will revolutionize its governance structure. The Chang hard fork, initially scheduled for August 27, has been delayed to September 1, 2024. This delay, according to Hoskinson, is to allow crypto exchanges like Binance to prepare for the transition
Recently, Maker, a prominent DeFi lending protocol on Ethereum, made significant changes by rebranding itself to “Sky.” This rebranding also involved renaming its stablecoin from DAI to USDS, and its governance token from MKR to SKY. One of the key upgrades introduced was the ability to convert 1 DAI to 1 USDS token and 1
The US Securities and Exchange Commission has stood firm against the attempt of Hex founder Richard Heart to dismiss its $1 billion securities fraud lawsuit. The SEC, in its opposition brief filed in a New York federal court, rebutted Heart’s claims that the regulator lacked jurisdiction due to his foreign residency and absence in the
Bitcoin ETFs have experienced a rollercoaster of activity in recent weeks, with significant fluctuations in both inflows and outflows. The spot Bitcoin ETFs faced a challenging start to the month, shedding over $550 million in just three days as the price of BTC plummeted from over $65,000 to under $50,000. This sharp decline was mirrored
The recent arrest of Pavel Durov in France has sparked a wave of support from various celebrities and well-known public figures. Among those showing their support are Elon Musk, Robert F. Kennedy, Vitalik Buterin, and Tucker Carlson. These high-profile individuals have come forward to express their solidarity with Durov in the face of his legal
The recent announcement by Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium regarding the potential for interest rate cuts has sent shockwaves through the financial markets. Powell explicitly endorsed rate cuts, stating that it was not a matter of if but how deep they would be. This shift in monetary policy has far-reaching
Shan Hanes, the former CEO of Heartland Tri-State Bank, was sentenced to 293 months in federal prison for embezzling $47.1 million in a cryptocurrency fraud scheme. Hanes pleaded guilty to one count of embezzlement by a bank officer after executing 11 unauthorized wire transfers to a cryptocurrency wallet between May and July 2023. This illegal
Shibarium, a layer-2 blockchain solution integrated with the Ethereum network, has undoubtedly made significant strides in the past year. The platform was designed to support the development of the Shiba Inu ecosystem by reducing transaction costs, improving speed, and enhancing scalability. However, despite these initial goals, it is crucial to analyze the recent upgrades and
German authorities recently undertook a significant crackdown on illegal cryptocurrency operations in the country. The Federal Financial Supervisory Authority (BaFin) led the operation and seized nearly 250,000 euros and 13 crypto ATMs. The crackdown targeted 35 locations across Germany where crypto ATMs were allegedly operating without proper licensing. This operation was carried out in collaboration
Bitcoin’s price surged to $65,000 after a period of stagnant trading sideways, with a $5,000 daily increase. One of the potential catalysts behind this sudden surge can be attributed to the actions of the US Federal Reserve. The relationship between Bitcoin and the Federal Reserve’s economic policies has been evident in recent years, particularly following
The recent report released by Coinbase highlights the growing influence of young, pro-crypto voters on the upcoming 2024 US presidential elections. With Gen Z and Millennials now representing 40% of the electorate, there is a notable shift towards candidates who advocate for cryptocurrency and financial innovation. This trend is further fueled by the dissatisfaction among
Historical on-chain data has shown that high bitcoin demand typically precedes price increases and rallies. However, the current market dynamics paint a different picture. Recent reports indicate that bitcoin demand has actually slowed down significantly since early April, despite the cryptocurrency hovering around $70,000 at that time. The daily growth of bitcoin has slowed, and
Ripple, known for its innovation in the blockchain and cryptocurrency space, has made headlines once again with its announcement to launch a stablecoin called Ripple USD (RLUSD). This move is seen as an attempt to bridge the gap between the crypto industry and traditional finance, bringing about a new era of financial integration. The stablecoin,
Binance, the world’s leading cryptocurrency exchange, has announced that it will temporarily suspend deposits and withdrawals of The Open Network (TON) on August 26. This decision is a part of the exchange’s wallet maintenance for TON and is expected to last for approximately two hours. However, trading on the network will remain unaffected during this
Bitcoin’s price has been experiencing fluctuations in the past few days, with bulls currently having the upper hand as they push BTC past the $60K mark towards $61,000. However, weekends bring a different dynamic to the market. Traditionally, weekends see lower trading volume compared to weekdays, leading to increased volatility. With less liquidity available in
The recent transfer of former Binance CEO Changpeng ‘CZ’ Zhao from FCI Lompoc II to the RRM Long Beach halfway house in California has sparked confusion among X users. Many mistakenly believed he had been released, when in fact, CZ remains incarcerated. The RRM Long Beach facility, where CZ has been moved to, is categorized
Pi Network, a crypto project established in 2019, offers users the ability to mine and earn digital assets using their mobile devices. The project prides itself on being energy-efficient through its utilization of the Stellar Consensus Protocol (SCP) as a consensus algorithm. This sets it apart from traditional Proof-of-Work (PoW) systems known for their high
Bitcoin, the poster child of cryptocurrency, experienced a tumultuous journey over the past week. After a significant drop, the digital asset surged to a weekly high of nearly $62,000. The market saw a flurry of activity with other major altcoins like TRX and TON also making impressive gains. This price volatility is not uncommon in
Base, a Layer 2 network incubated by Coinbase, has been making significant strides in the Layer 2 network space. Recent data from IntoTheBlock reveals that Base now has nearly 40% more daily active addresses than its competitors, Arbitrum and Optimism. This growth indicates that Base is gaining a larger share of off-chain transactions within the