Terra Classic Labs’s investment and community support fuel rally cause significant price surges for USTC and LUNC. The unexpected increase in the price of TerraClassicUSD (USTC) and Terra Classic (LUNC) indicates a resurgence of excitement for these assets. In an attempt to reclaim its lost US dollar peg from May 2022, USTC saw an amazing 283% spike in just one day, reaching $0.63997. The dramatic jump in price is thought to have been caused by Terra Classic Labs’ strategic acquisition of 25.6 million USTC, which not only increased the value of USTC but also revitalized the Terra Classic ecosystem. The
Author: Mohammed Ali
Articles by Mohammed Ali
Although the price of XRP hasn’t changed much over the last week, big investors have been making ripples in the background. Recent information reveals a notable increase in on-chain activity, indicating a whale purchasing frenzy aimed at profiting from the altcoin’s low performance. Crypto expert Ali Martinez found significant whale activity in the XRP market over the past seven days while giving thoughts on X. Based on statistics from Santiment, these large investors jumped in and bought almost 11 million tokens, or about $6.82 million. Upon closer inspection, the data shows a noticeable increase in holdings, especially for whales that
A significant amount of Solana (SOL) tokens, totaling around 200,000 SOL and valued at more than $10 million, were transferred to Binance, causing a jolt in the cryptocurrency market. This significant movement has fueled speculation about a possible sell-off, resulting in a 1.89% drop in SOL’s price in the last 24 hours. A crypto whale transferred 200,000 SOL tokens to Binance, causing concern and rumors in the cryptocurrency community. The timing of this transfer coincided with a slight drop in the price of SOL, prompting market participants to speculate on the motivations behind such a large movement. The impact of
Grayscale Investments is actively seeking approval to convert its Grayscale Bitcoin Trust into a spot Bitcoin exchange-traded fund (ETF). The asset manager recently met with Securities and Exchange Commission (SEC) officials to discuss potential listing issues regarding the product’s shares. According to a memo published by the SEC, the meeting focused on NYSE Arca, Inc.’s proposed rule change to list and trade shares of the Grayscale Bitcoin Trust (BTC) under NYSE Arca Rule 8.201-E. Grayscale recently filed a new registration statement with the SEC, marking its latest attempt to transform the trust product into a spot bitcoin ETF. In the
dYdX faces an attack, leading to the burning of $9 million from its insurance fund to cover user losses1 week ago 1 min read
On November 17, a targeted attack on the decentralized crypto exchange dYdX resulted in the burning of $9 million from its insurance fund to compensate for user losses. As a result, dYdX has increased the margin requirements for tokens in less liquid markets and taken other steps to reduce risk. Due to the attack, which was mainly concentrated on the YFI token and caused the liquidation of about $38 million worth of positions, the exchange decided to take preventative measures to protect users from future incidents. YFI’s founder, Antonio Juliano, called the event a “targeted attack,” pointing out that someone
Crypto.com crypto exchange has achieved a significant milestone by securing a license to operate in Dubai. The license, granted to Crypto.com’s Dubai branch, known as CRO DAX Middle East FZE, follows the initial approval received in March. The licensing process in Dubai involves several stages, including a provisional permit, a preparatory license, and the final operating license. Crypto.com has successfully navigated through these steps and is now poised to enter the operational phase, pending compliance with local regulations and conditions. Upon full operation, Crypto.com plans to offer a range of services, including exchange services and broker-dealer services, among others. This
DeFi platform Raft suffered a hack that led to a loss of around $3.3 million in Ethereum (ETH). However, the hacker may have ultimately incurred a loss during the attack. A hacker stole 1,577 ETH from Raft but then sent 1,570 ETH to a burn address. This effectively destroyed most of the stolen funds, leaving the attacker with just $7. Prior to the hack, the hacker’s wallet received 18 ETH through a cryptocurrency mixer called Tornado Cash. After the transactions and blockchain fees, the hacker’s wallet ended up with only 14 ETH, resulting in a net loss of 4 ETH
Senator Ted Budd has introduced the “Keep Your Coins Act,” a proposed bill aiming to secure freedom in the use of cryptocurrencies for Americans. This new bill is focused on preventing federal agencies from imposing restrictions on how individuals can utilize cryptocurrencies for personal transactions. The bill specifically protects the rights of “covered users,” referring to individuals who use cryptocurrencies to purchase goods or services for their personal use, regardless of the source of the cryptocurrency. Furthermore, it aims to preserve the use of non-custodial wallets, which allow users to have full control over their cryptocurrency, free from federal restrictions.
Chainlink, the decentralized oracle network, has experienced a notable surge in its price, surpassing the $12.50 mark over the weekend. This price level is significant as it marks the first time Chainlink has reached this threshold since April 2022. Simultaneously, the number of wallets holding a minimum of 1,000 LINK tokens, currently valued at $12,150 or more, has reached a new all-time high, totaling 27,152 wallets. Data from Glassnode also highlights a positive correlation between the LINK price uptrend and the growth in the number of addresses holding non-zero balances. This trend reflects an increasing adoption of the Chainlink network
It appears that a major Ethereum (ETH) whale has been on the move, shifting a substantial amount of ETH away from the Binance exchange. As per data uncovered by Lookonchain, this Ethereum whale withdrew 8,968 ETH on November 4th, followed by another withdrawal of 8,618 ETH on November 5th. In just two days, the total amount withdrawn added up to a significant 17,316 ETH. To put this into perspective, at the time of this report, the total value of this whale’s withdrawal from the exchange hovered around $32 million. Note that during this period, the supply decreased from over 10.7
PayPal has received the green light from the U.K. Financial Conduct Authority (FCA) to offer cryptocurrency services. This approval allows PayPal UK Limited to engage in some cryptocurrency-related activities, complying with regulations aimed at preventing illegal financial activities. The FCA has set certain rules for PayPal’s cryptocurrency services. Currently, they are not allowed to onboard new customers, and existing customers can only buy and sell crypto. Additionally, PayPal cannot introduce new types of crypto services, including crypto exchanges, launching new coins, or providing crypto-based lending. Despite these limitations, PayPal can now freely share its cryptocurrency-related updates and announcements. This comes
Avalanche (AVAX), the Layer 1 blockchain project, is preparing for a significant token unlock scheduled for November 24. This release will see 9.54 million AVAX tokens become accessible, with a total value of around $109.64 million. These tokens represent 2.69% of Avalanche’s circulating supply. The upcoming token unlock will have four primary beneficiaries: This token unlock is a significant event for the Avalanche ecosystem and its stakeholders, as it provides access to a substantial amount of AVAX tokens for various purposes, including further development, partnerships, and rewarding airdrop participants.