Author: Ujunwa Juliet Ihiasota

Article written by Ujunwa Juliet Ihiasota

A whale moves over 240 million XRP, valued at around $127 million

May 24, 2024 1 min read

A recent bank audit revealed a $127 million whale transaction involving over 240 million XRP. Whale Alert, a blockchain monitoring service, said that Coincheck, a major Japanese cryptocurrency exchange, transferred the transaction to an unknown wallet. Blockchain data show the transaction occurred at 07:13 UTC today. Incredibly, the identical recipient wallet was engaged in another large transfer days before. On Monday, Crypto Basic revealed that Coincheck sent 250,000,000 coins worth

The SEC’s decision this week on spot Ethereum ETFs will significantly impact the crypto market

May 20, 2024 2 mins read

This week, the SEC will decide whether to allow or reject spot Ethereum ETFs. This move has drawn attention from prominent investing companies. The SEC’s VanEck application deadline is May 23, followed by Cathie Wood’s ARK Invest and 21Shares proposals the following day. BlackRock, Fidelity, Bitwise, Galaxy Digital, Franklin Templeton, and Hashdex are also interested in launching a spot Ethereum ETF. Most industry analysts expect the SEC to reject these

US Bitcoin ETFs saw a significant boost on May 13, with $66 million in inflows

May 17, 2024 1 min read

On Monday, May 13, all 11 US Bitcoin ETFs witnessed $66 million in inflows. Despite spot Bitcoin ETF purchases slowing and occasionally going negative, BlackRock’s IBIT and Grayscale’s GBTC saw zero net flows that day. With $38.6 million inflows, Fidelity’s Bitcoin ETF (FBTC) led, followed by Bitwise’s ($20.3 million). Over the previous month, the eleven Bitcoin ETFs lost $297 million on 17 trading days. This tendency is attributable to market

MicroStrategy unveils ‘Orange,’ a Bitcoin-driven ID system, boosting digital security

May 3, 2024 2 mins read

MicroStrategy has developed a new decentralized identity system called ‘MicroStrategy Orange’. During the ‘Bitcoin For Corporations’ conference on May 1, executive chairman Michael Saylor made the announcement. This method involves directly incorporating data into Bitcoin’s transaction outputs via a unique kind of Ordinals inscription, as opposed to existing identifying methods that rely on networks or sidechains. Saylor said that Orange has the capacity to process a maximum of 10,000 decentralized

Bitwise CIO sees Bitcoin volatility halving as institutional investments surge

April 26, 2024 1 min read

Bitwise’s Chief Investment Officer, Matt Hougan, forecasted a 50% reduction in Bitcoin’s volatility as a result of institutional participation. Hougan reiterated his $250,000 Bitcoin price projection in a comprehensive investment report for the upcoming years. Prior to the 2024 halving event, Bitcoin achieved unprecedented peaks. Hougan anticipates that these sudden increases will persist beyond the halves of Bitcoin, a trend that has been observed since the halving event in 2012

Hong Kong approves its first Bitcoin ETF, signaling a significant push in the crypto market

April 17, 2024 1 min read

Hong Kong has granted approval for its inaugural Bitcoin exchange-traded fund (ETF), representing a notable milestone in the realm of crypto. The Bitcoin ETF, overseen by China Asset Management (Hong Kong) in partnership with OSL Digital Securities and BOC International Prudential Trusteeship, provides investors with a direct opportunity to profit from the price of Bitcoin. Furthermore, this strengthens Hong Kong’s appeal as a prominent center for crypto trading and investment.

Binance executive’s tax evasion case in Nigeria postponed, next hearing set for April 19

April 15, 2024 1 min read

Tigran Gambaryan, a high-ranking Binance executive in Nigeria, has been apprehended for the act of deliberately avoiding tax payments and is currently being prosecuted, along with the firm, for failing to fulfill specific tax obligations and purportedly assisting customers in evading taxes. Justice Emeka Nwite delayed the proceedings after Gambaryan had lately became aware of the charges. Gambaryan’s imprisonment by the EFCC, a separate federal agency, was the cause of

Over $21M in Solana locked on Lido’s DeFi, affecting thousands

April 4, 2024 0 mins read

Lido, a large DeFi platform, has shut down its Solana services owing to a technical issue, rendering over $21 million in Solana inaccessible to users. This issue has raised concerns and complaints among the DeFi community, as the platform’s Solana services have been disabled for over 31,585 users. Despite the platform’s entire ecosystem worth more than $31 billion, its Solana services have fallen behind rivals, resulting in the closure. The

Bitcoin volatility hits 60%, outpacing Ether as the halving event draws near

April 1, 2024 1 min read

Bitcoin’s volatility has exceeded that of Ether, hitting over 60% in the 30-day annualized historical volatility. This is a result of the influx of investments into Bitcoin exchange-traded funds (ETFs) and the expectation around Bitcoin’s upcoming halving event. Bitcoin, often seen as a reliable digital money, has encountered unforeseen volatility, which has posed a challenge to its function as a stabilizing force in the market. The approval of several Bitcoin

Solana (SOL) Surpasses Binance Coin (BNB) in market cap to become the 4th largest crypto

March 18, 2024 1 min read

Solana (SOL) has surpassed Binance coin (BNB) in market capitalization, becoming the world’s fourth-largest cryptocurrency. This follows a remarkable streak of growth, with Solana surpassing Ethereum’s performance in the previous 24 hours and achieving a record DEX daily volume number. Despite the downturn in the digital asset market, Solana has managed to surpass BNB in market capitalization, making it the fourth-largest crypto globally. The price and market cap of Solana

MicroStrategy secures $800M from notes sale to fund its growing Bitcoin portfolio

March 11, 2024 1 min read

Virginia-based MicroStrategy Incorporated, well-known for embracing Bitcoin early on, has concluded a $800 million convertible note issuance. Finalized on March 8, 2024, the sale is aimed to institutional purchasers that meet certain regulatory requirements. Furthermore, an extra $100 million is included in the $800 million from an option that purchasers fully exercised on March 6, 2024. Plus, investors may choose between debt and equity via convertible notes, which have a

Shiba Inu community burns over 634 million SHIB tokens in February, SHIB price surges by over 80%

March 3, 2024 1 min read

The burn rate of Shiba Inu has surged by over 880%, resulting in the destruction of over 630 million SHIB tokens in February. Shibburn, a SHIB transaction tracker, has reported that in the past 24 hours, the SHIB community burned over 37,104,438 SHIB meme coins. This increased the burn rate to over 880%. Thus, over 21,540,898 SHIB was sent to inactive Bitcoin wallets in the biggest burn transaction hours ago.