Teererai Mukonavanhu
I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency, NFT, AI, and new technology.
Articles by Teererai Mukonavanhu
9 months ago
1 min read
Shiba Inu has witnessed a remarkable surge in its burn rate, surpassing a staggering 145%. The recent surge in burn activity has grabbed the attention of cryptocurrency enthusiasts and investors alike. This article delves into the recent developments surrounding Shiba Inu’s burn rate increase and its implications for the cryptocurrency’s value. Over the span of 24 hours, Shiburn, the designated burning mechanism for Shiba Inu, has executed a substantial burn of 92 million SHIB tokens. These tokens have been meticulously transferred to “inferno” wallets, effectively taking them out of circulation permanently. Of particular note is a substantial single transaction involving
9 months ago
1 min read
Binance crypto exchange has concluded the twelfth round of token burning for Terra Classic (LUNC). This strategic process, aimed at reducing the token supply and enhancing its scarcity, holds the potential to influence the token’s value and market dynamics significantly. In the latest token-burning event, Binance successfully burned a substantial 1.41 billion LUNC tokens. This impressive figure corresponds to half of the LUNC trading commission revenues generated on the platform. In terms of market value, this amounts to approximately $112,000, reflecting the exchange’s commitment to maintaining a balanced token ecosystem. Market participants and enthusiasts can anticipate the announcement of the
9 months ago
1 min read
As Bitcoin (BTC) exhibited more sideways behavior, echoing the trend seen during the weekend and the previous week. The lack of significant market-moving events resulted in a brief spurt above $29,500 after the weekly close. However, bulls struggled to sustain momentum, leaving all eyes on the monthly close as a potential trigger for increased volatility. Monitoring resource Material Indicators provided an analysis of the BTC price action, noting that the cryptocurrency briefly surpassed $29,500, but failed to gain enough bullish momentum to advance further. As the month drew to a close, traders remained cautious about a potential trend shift. Material
9 months ago
2 mins read
In a major development, the US Securities and Exchange Commission (SEC) has filed a fraud lawsuit against prominent crypto influencer Richard Heart, also known as Richard Schueler. The lawsuit alleges that Heart raised over $1 billion through the unregistered offer and sale of crypto asset securities, including Hex, PulseChain, and PulseX. The SEC contends that the crypto assets Hex, PulseChain, and PulseX should be classified as securities. Richard Heart allegedly promoted these investments as avenues to extraordinary wealth, boasting that Hex was designed to become the most appreciating asset in the history of mankind. The complaint further accuses Heart and
10 months ago
2 mins read
Ripple‘s CEO, Brad Garlinghouse, twitted to express his views on the ongoing legal dispute between Ripple and the Securities and Exchange Commission (SEC). In a series of tweets, Garlinghouse criticized the SEC’s regulation of the crypto sector, claiming that the regulatory body has exceeded its legal authority, leaving consumers vulnerable in bankruptcy court. The SEC’s recent announcement to appeal a landmark ruling in favor of Ripple has further intensified the legal saga, with potential implications for the broader cryptocurrency industry. The legal conflict between Ripple and the SEC revolves around the classification of Ripple’s cryptocurrency XRP as a security. In
10 months ago
2 mins read
Celsius, the bankrupt crypto lender, has recently liquidated approximately $25 million worth of various altcoins after receiving approval from a US court to convert them into BTC and ETH. This move comes as part of the network’s efforts to distribute these assets to their creditors. Among the altcoins liquidated were Chainlink (LINK), BNB coin, Synthetix Network (SNX), 1Inch, and 0x Protocol (ZRX), as well as Shiba Inu’s BONE, among others. The court permitted Celsius to convert a total of $170 million worth of altcoins into BTC and ETH. Last week, Celsius Network transferred around $70 million worth of altcoins from
10 months ago
1 min read
In a significant development for the cryptocurrency market, leading exchange Coinbase has announced that it will relist XRP. The decision comes after a favorable ruling from U.S. District Judge Sarah Netburn, who found that the sale of XRP on exchanges does not fall under the category of security. Coinbase delisted XRP in January 2021, citing the ongoing legal battle between Ripple and the SEC. The SEC lawsuit alleges that Ripple sold XRP as an unregistered security, while Ripple argues that XRP is a currency. The ruling from Judge Netburn is a major victory for Ripple and could have implications for
10 months ago
2 mins read
Leading cryptocurrency exchange Binance has made the decision to delist its XRPUP and XRPDOWN leveraged tokens as of July 25 at 6 am UTC. This move comes in the wake of lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against both Binance and Ripple Labs regarding the alleged sale of unregistered securities. According to Binance’s announcement, the leveraged tokens offering users exposure to long or short positions on XRP will no longer be available on the platform after the specified date. Users are advised to redeem their tokens using the wallet function before the delisting takes effect. Binance
10 months ago
2 mins read
In a recent development within the Ethereum (ETH) ecosystem, substantial amounts of digital assets have been transferred to major cryptocurrency exchanges, totaling approximately $140 million. The movement of funds to exchanges follows a decrease in the supply of the second-largest cryptocurrency, which occurred throughout the month of June. According to data reported by Whale Alert, a renowned whale monitoring service, multiple transactions worth millions of dollars have taken place, with the cryptocurrency being sent to prominent exchanges such as Coinbase, Kraken, and OKX. One notable transfer involved the movement of 20,000 ETH, valued at over $38 million, from Arbitrum (ARB),
10 months ago
1 min read
Venture capitalist, investor, and Bitcoin advocate Anthony Pompliano recently shared his optimistic outlook on the approval of Bitcoin spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC). In a conversation with CNBC’s Squawk Box, Pompliano discussed the SEC’s recent remarks labeling certain ETF filings as “inadequate” and shed light on the regulator’s expectations for clarity regarding custodians and surveillance-sharing agreements. While unable to predict the exact timing, Pompliano believes that the spot Bitcoin ETF will eventually gain approval, particularly for players like BlackRock, a significant presence in the financial markets. Pompliano emphasized that the SEC’s concerns about
10 months ago
1 min read
Shiba Inu’s Shibarium Puppynet, the beta version of the highly anticipated Shibarium platform, has captured the attention of the SHIB Army and the broader Shiba community. With impressive milestones achieved, including surpassing 25 million transactions, Shibarium is proving its capacity to handle a substantial volume of daily transactions and establish itself as a reliable blockchain platform. Puppynet’s achievement of over 25 million transactions is a remarkable milestone for Shibarium. The platform has demonstrated its capability to facilitate a high volume of transactions, averaging an impressive 273,805 transactions per day. This milestone highlights Shibarium’s scalability and efficiency in handling blockchain operations.
10 months ago
2 mins read
Bitcoin’s steady position above the $30,000 mark has brought about increased activity in the altcoin market. While Bitcoin remains stable, several lesser-known altcoins are experiencing notable surges. Notably, Blur’s native BLUR token and Flex Coin, the token of CoinFLEX exchange, have seen substantial gains in the past 24 hours and week. In the last 24 hours, Blur’s native token, BLUR, has shown an impressive upward trajectory. According to CoinGecko data, BLUR has surged by over 11%. Blur, which emerged as a rival to OpenSea, the leading NFT marketplace, and aggregator, has gained significant traction in recent times. With a price
