Browsing:Crypto News

Whales keep purchasing millions of dollar worth of XRP tokens despite no change in price
5 months ago 1 min read

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

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

Notorious Crypto-Stealing Service Inferno Drainer Shuts Down After $70M Spree
5 months ago 1 min read

Notorious Crypto-Stealing Service Inferno Drainer Shuts Down After $70M Spree

The creators of the infamous cryptocurrency wallet-draining service, Inferno Drainer, declared its permanent closure after helping phishing criminals steal about $70 million in cryptocurrency over the course of the year. The Inferno Drainer crew stated in a Telegram post on November 26 that it’s “time for us to move on.” The infrastructure and files of the drainer will not be deleted, but they will still be operational so that users may seamlessly switch to alternative providers. The statement positioned Inferno Drainer as the greatest drainer available and extended gratitude to everyone who collaborated with them. Although the company warned that

The witty response Charles Hoskinson had regarding Ethereum's staking changes
5 months ago 1 min read

The witty response Charles Hoskinson had regarding Ethereum’s staking changes

The rivalry between Ethereum’s Vitalik Buterin and Cardano’s Charles Hoskinson has become caustic. Buterin freely admitted to Ethereum’s centralization during a Turkish event, and he suggested reworking the platform’s staking mechanism. Sarcastic in his response, though, was Charles Hoskinson, a well-known supporter of Cardano, who stated, “No worries, Ethereum 3 will have it all sorted.” This conversation highlights the continuous struggle for supremacy in the cryptocurrency ecosystem between the two blockchain systems. Buterin accepted that there were flaws with Ethereum’s staking pool concept and its centralization. In order to improve decentralization, he suggested moving toward the unspent transaction (UTxO) strategy.

Binance witnessed increased FUD following CEO ChangPeng Zhao's resignation with a substantial outflow of over $100 million in USDT
5 months ago 1 min read

Binance Witnesses Significant USDT Withdrawals Amidst Spreading FUD

Binance witnessed increased FUD (Fear, Uncertainty, Doubt) following CEO ChangPeng Zhao‘s resignation, with a substantial outflow of over $100 million in Tether (USDT). This withdrawal, the largest in three months, raises concerns about the stability of the exchange. BNB (Binance Coin) had a 10% decline in value, fighting to return to $250 and now hovering around $233. The Relative Strength Index (RSI) indicates a bearish trend, but a recent rise in transaction volume, which exceeded $2 billion, suggests some stability. Despite these obstacles, Binance maintains its lead in daily transactions, with a 24-hour trading volume over $11.7 billion, much above

The founder of Binance is fighting against the gov's attempt to prevent his return to the UAE after pleading guilty to anti-money laundering
5 months ago 0 mins read

Binance CEO CZ Appeals to Return to UAE Amid Flight Risk Concerns

Changpeng Zhao, the founder of Binance, is fighting against the government’s attempt to prevent his return to the UAE after pleading guilty to anti-money laundering charges. In a legal brief, his defense emphasizes his voluntary appearance, lack of criminal history, and substantial bail conditions as reasons to deny the flight risk claim. The defense asserts that Zhao’s citizenship and the absence of an extradition treaty don’t make him a risk. Released on bail with a $175 million bond, Zhao, who resigned from Binance, has shown commitment to resolving the case rather than fleeing, according to his defense.

Shiba Inu (SHIB) burn rate drop 40% amid price surge
5 months ago 1 min read

Shiba Inu (SHIB) Price Jumps Amid Token Burning Slowdown and Shibarium Testnet Surge

Shiba Inu (SHIB) has sparked the crypto market with a significant price increase, piqued the curiosity of traders and investors. This spike coincides with a decrease in SHIB token burning, a process regularly observed by the Shibburn platform. Shibburn’s most recent data shows that Shiba Inu’s burn rate has decreased by 34.89% in the last twenty-four hours. During this time, 5.94 million SHIB tokens were burned. Interestingly, the burn rate fell by 43.33% over the past week, with a total of 130.90 million SHIB burned during this time period. In a series of transactions, the Shiba Inu community has actively

Bitcoin just displayed its biceps, breaking beyond the $38,300 barrier for the first time in more than a year.
5 months ago 1 min read

Bitcoin Breaks Year-Long Barrier, Surpassing $38,000: A Glimpse into Market Momentum

Bitcoin just displayed its biceps, breaking beyond the $38,300 barrier for the first time in more than a year. This bullish surge, which occurred on Friday, November 25, put a bright spin on a week that saw Changpeng “CZ” Zhao leave Binance, the world’s largest crypto exchange. According to Santiment, a blockchain analytics platform, this leap above $38,000 may not be a passing fad, but rather a glimpse into a more hopeful trajectory if Bitcoin can maintain its current speed. Santiment’s post on X delves into the dynamics behind Bitcoin’s recent price push. While the crypto has experienced a correction

Recent large transfers by XRP whales, totaling $30 million worth of the token to central exchanges
5 months ago 1 min read

Whale transfers 50 million XRP worth around $30 million to exchanges

As Ripple navigates a fierce legal battle with the SEC, XRP investors find themselves in a state of uncertainty, torn between legal victories and recent whale movements impacting the digital asset’s market dynamics. Recent large transfers by XRP whales, totaling $30 million worth of the token to central exchanges, have sent shockwaves through the crypto community. The move, flagged by Whale Alert, involved nearly 50 million XRP tokens exchanged to centralized financial firms, with Bitstamp and Bitso receiving substantial amounts on November 24. Speculation looms over the intent behind these transfers, with many questioning whether the whale’s decision to sell

Glassnode Predicts $70 Billion Inflow into Bitcoin Post Spot ETF Approval
5 months ago 1 min read

Glassnode Predicts $70 Billion Inflow into Bitcoin Post Spot ETF Approval

Blockchain analytics firm Glassnode has conducted an analysis, estimating a substantial influx of around $70 billion in investor demand following the recent approval of a Bitcoin Spot ETF. The research delves into the potential impacts on Bitcoin’s price and the broader crypto market. Glassnode’s insights are grounded in the expectation that institutional investors, seeking new avenues, will channel significant portions of capital from traditional markets such as stocks, bonds, and gold into Bitcoin. The analytics company foresees this shift driving substantial demand and potentially triggering a BTC price rally. The analysis by Glassnode suggests that around $60.6 billion could flow

Zipmex Exchange Faces Challenges, Suspends Trading Activities in Thailand
5 months ago 1 min read

Zipmex Temporarily Shuts Down Trading Services in Thailand

Zipmex Thailand, grappling with regulatory challenges, has taken a significant step by suspending new deposits and trading on its exchange. The decision, as outlined in a statement on the exchange’s Facebook page, is attributed to the need for compliance with Thailand’s Securities and Exchange Commission (SEC). In clarifying the situation, Zipmex emphasized that withdrawals would continue as usual until January 31, 2024. After this date, customers are advised to reach out to the exchange’s customer support team for assistance in withdrawing funds. The exchange, headquartered in Singapore and serving multiple countries including Thailand, Australia, and Indonesia, is currently facing penalties

KuCoin cryptocurrency exchange has made a strategic move to enhance compliance by delisting 10 altcoins from its platform.
5 months ago 1 min read

KuCoin exchange to delist KAT (KAT), Sakura (SKU), Don-key (KDON), LOCGame (LOCG), Sienna (WSIENNA) and 5 more

KuCoin cryptocurrency exchange has made a strategic move to enhance compliance by delisting 10 altcoins from its platform. The decision is aligned with KuCoin’s commitment to maintaining quality and compliance, enforced through its Special Treatment Rules. The announcement specified that the delisting of these 10 altcoins is a result of their failure to meet the conditions outlined in KuCoin’s Special Treatment Rules. The objective of these rules is to ensure that all listed projects adhere to the exchange‘s rigorous quality and compliance standards, prioritizing the safety and reliability of cryptocurrencies for users. Effective November 24, 2023, at approximately 6:45 a.m.

KyberSwap exchange has taken an unusual step to encourage the return of stolen funds by offering a 10% bounty.
5 months ago 1 min read

Crypto Exchange KyberSwap Puts 10% Bounty on Table to Recover Hacked Funds

In the aftermath of a recent $50 million hack, KyberSwap, a decentralized exchange, is taking an unusual step. The exchange is actively negotiating with the hacker, and the decentralized autonomous organization (DAO) in charge of KyberSwap is negotiating via the compromised wallet. Surprisingly, they have acknowledged the hacker’s abilities while attempting to resolve the situation. KyberSwap has taken an unusual step to encourage the return of stolen funds by offering a 10% bounty. The exchange recognizes the complexity of the hack and has set a November 25 deadline for the hacker to return 90% of the stolen funds. In an

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