Author: Mohammed Ali

Article written by Mohammed Ali

Bitcoin plunges by over 5%, dropping below $42,000

December 11, 2023 1 min read

The crypto market had a rocky start to the week, with major players such as Bitcoin (BTC) and Ethereum (ETH) dealing with a bearish trend in intraday trading. According to CoinMarketCap, BTC dropped by more than 5%, falling to $41,649 before recovering to $42,510 within a 24-hour period. Over the last day, CoinGlass data revealed a total of $411 million in liquidations, with $357 million linked to long positions in

Cardano’s market cap increases by over $1 billion in 24 hours, reaching $15.5 billion

December 7, 2023 1 min read

Cardano’s native crypto, ADA, experienced a spectacular surge, with its market cap increasing by more than $1 billion in just 24 hours. The latest buying frenzy has propelled ADA to the eighth-largest cryptocurrency by valuation, cementing its position as a key player in the digital asset space. According to the most recent data, ADA’s overall market cap has risen to an impressive $15.5 billion, indicating a significant influx of capital

UK House of Commons Urges Cautious Evaluation of Digital Pound Amid Financial Concerns

December 5, 2023 2 mins read

The UK House of Commons has called on the Bank of England and Treasury to thoroughly evaluate the viability and potential risks associated with the introduction of a digital pound in response to the changing financial landscape. The request highlights how crucial it is to execute the central bank digital currency (CBDC) project with careful cost control and transparency. Although the digital pound’s early trials have demonstrated its potential advantages,

Bitcoin Rockets Pass $40,000 Amid ETF Anticipation and Global Factors

December 4, 2023 1 min read

Bitcoin has risen to an unprecedented high, surpassing $40,000 for the first time since April 2022. This strong rise is being fueled by a confluence of factors, most notably growing optimism about potential Bitcoin exchange-traded funds (ETFs). The cryptocurrency‘s value increased by over 5.5%, briefly approaching $43,000 before settling around $41,600. This surge occurs against the backdrop of increased excitement surrounding the potential approval of a Bitcoin ETF, a development

TerraClassicUSD (USTC) and Terra Classic (LUNC) increase by over 300% and 40% respectively

November 28, 2023 1 min read

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

Whales keep purchasing millions of dollar worth of XRP tokens despite no change in price

November 27, 2023 1 min read

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,

Whale moves 200,000 Solana (SOL) worth around $10 million to Binance

November 24, 2023 1 min read

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

Grayscale Pursues Spot Bitcoin ETF Approval: Recent SEC Meeting Signals Progress

November 22, 2023 1 min read

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

dYdX faces an attack, leading to the burning of $9 million from its insurance fund to cover user losses

November 20, 2023 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

Crypto.com secures a license in Dubai, expanding its global crypto services

November 15, 2023 1 min read

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

This DeFi platform loses about $3.3 million in Ethereum (ETH) to hackers

November 11, 2023 1 min read

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

Senator Introduces Bill to Preserve Rights of Crypto Owners

November 10, 2023 1 min read

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