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Over $11 million worth of XRP
3 weeks ago 1 min read

Over $11 million worth of XRP moved from Binance to an unknown wallet

Over $11 million worth of XRP, equal to 18.91 million coins, was moved from Binance to an unknown wallet, marking a huge shift in the crypto market. This follows a similar event in which around 18.34 million XRP, worth $11.2 million, was transferred from Binance exchange to an unknown wallet. Furthermore, these large-scale trades, dubbed “whale movements,” have attracted debate and research within the bitcoin community. These significant withdrawals often indicate purposeful movements by important participants in the market, such as XRP accumulation, in which wealthy investors increase their holdings in expectation of future price gains. The timing of these

Ethereum's total supply declines $250 million in the last week
3 weeks ago 2 mins read

Ethereum’s total supply declines $250 million in the last week

Ethereum‘s total supply has declined by 32,000 eth in the last week and 66,000 in the last 30 days, totaling more than $250 million. This has resulted in Ethereum exhibiting some momentum, with the ratio gaining on Bitcoin and reaching 0.058 BTC earlier today. Ethereum is still far from its all-time high, but a network upgrade next week will improve scalability for second layers by introducing prunable storage. Developers are considering decreasing issuance by lowering the staking payout to make it less appealing as it approaches 31 million eth locked in validators. The decline in supply occurs as base fees

Bitcoin exchange-traded funds (ETFs) witnessed a trading volume that broke all previous records
3 weeks ago 1 min read

Bitcoin ETFs trading volume soars but face a setback, hinting at market volatility

Last week, Bitcoin exchange-traded funds (ETFs) witnessed a trading volume that broke all previous records, which resulted in large investment flows. On the other hand, a decline took place at the end of the week, showing that net investments in a group of ten funds based in the United States turned negative. Although Grayscale Investments’ fund had significant withdrawals, BlackRock’s iShares Bitcoin ETF (IBIT) received approximately $203 million in investments. However, Grayscale Investments’ fund experienced a net withdrawal of $140 million. Although this was the case, the overall weekly influx continued to be strong, reaching almost $1.7 billion, making it

Binance exchange suspends Nigeria Naira (NGN) deposits
3 weeks ago 1 min read

Binance exchange suspends Nigeria Naira (NGN) deposits

Binance exchange has said it will leave the Nigerian market and stop all services that use the Nigerian naira (NGN), which is the country’s official currency. After March 8, the largest crypto exchange by trading volume will no longer let people withdraw NGN. Any leftover balances will be automatically converted to the stablecoin Tether (USDT). Furthermore, the exchange wants Nigerian users to make a smooth transition, so they have been telling them to withdraw their NGN, sell their NGN assets, or turn them into crypto before NGN services end. For the purpose of determining the conversion rate for NGN to

Binance exchange to list Dogwifhat (WIF) memecoin
3 weeks ago 1 min read

Binance exchange to list Dogwifhat (WIF) memecoin

Binance exchange has announced the listing of Dogwifhat (WIF), a Solana-based meme coin, starting on March 5, 2024. The token, represented by a dog wearing a knitted hat, has experienced over 2,750% price increase since its inception. According to the exchange announcement, Binance will enable spot trading for WIF across multiple trading pairs, including WIF/BTC, WIF/USDT, WIF/FDUSD, and WIF/TRY. However, the listing comes with a “Seed Tag” applied to it, showing its high volatility and risks compared to other listed tokens or coins on the exchance. The team said that all fees on the token are waived. However, Binance will

Cardano (ADA) has seen a significant surge in its market value, adding $2 billion within a 24-hour trading session.
3 weeks ago 1 min read

Cardano (ADA) trading volume soars by over 30%, gaining over $2 billion in 24 hours

Cardano’s (ADA) market capitalization increased significantly, gaining over $2 billion in value during a 24-hour trading period. Cardano’s market capitalization has risen to $27.68 billion due to an increase accompanied by a 42% surge in trading volume. The network has reinforced its position as one of the leading cryptocurrencies, second only to Dogecoin (DOGE) in terms of returns. Furthermore, the increase has raised the total turnover for spot and derivatives markets to above $3 billion, or 9% of the asset’s whole market value. Currently, Cardano is valued at $0.78 per ADA, its highest price since April 2022. The increased interest

Terra Luna Classic burned
4 weeks ago 1 min read

Binance burns 2.2 billion Terra Luna Classic (LUNC) tokens

Binance exchange has burned 2.21 billion Terra Luna Classic (LUNC) tokens in the 19th batch of the LUNC burn mechanism. This brings the total number of tokens burned by the Terra Luna Classic (LUNC) community to over 100 billion. Furthermore, the net burn by the crypto exchange is over 53 billion. What’s more, the Terra Luna Classic community celebrated the 100 billion LUNC milestone with increased optimism and confidence. Between January 31st and February 28th, Binance burned over $270 million worth of trading fees using the 19th batch of the LUNC burn mechanism. As of the most recent burn, the

Bets against non-serious tokens have lost a cumulative $50 million in the past 24 hours, indicating irrational exuberance.
4 weeks ago 1 min read

DOGE, SHIB, PEPE, FLOKI, and BONK see over $50M in short positions liquidated in the past 24 hours

Meme coins, such as Pepe (PEPE), have seen a significant price increase, with shorts losing a cumulative $50 million in the past 24 hours. According to data from Coinglass, bets against Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Floki (FLOKI), and Bonk (BONK) saw over $50 million in liquidations in the past 24 hours. This contributed to the price surge among these tokens. Meme coins started to come into focus last week as proxy bets on the growth of whichever blockchains these tokens are based on. Especially Ethereum-based DOGE, SHIB, PEPE, and FLOKI have captured most of the meme trading

The burn rate of Shiba Inu has surged by over 880%
4 weeks ago 1 min read

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

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. On top of that, there were three significant transfers that involved 2,154,873 SHIB, 1,000,000 SHIB, and 1,802,613 SHIB, with the second-largest holder disposing of 9,740,615 SHIB tokens 16 hours ago.

Bitcoin ETFs in the US have set a new trading volume record of over $7.7 billion on February 28
4 weeks ago 1 min read

Bitcoin ETFs surge to a record $7.7B in trading, doubling previous highs

Bitcoin ETFs in the US have set a new trading volume record of over $7.7 billion on February 28, surpassing the previous record of over $4.65 billion set on their launch day. The ETF that contributed the most is BlackRock’s iShares Bitcoin ETF (IBIT). The ETF contributed 43.5% of the day’s total with $3.35 billion in trades, nearly matched the aggregate trading volume of all ten ETFs from the day before. At the same time, trades totaling $1.44 billion were contributed by Fidelity Wise Origin Bitcoin Fund (FBTC) and $1.86 billion by Grayscale Bitcoin Trust (GBTC), respectively, doubling their prior

A layer 1 blockchain Shido token experienced over 90% drop in just 30 minutes after an exploit
4 weeks ago 1 min read

Shido token drops by 90% as exploiter drains Ethereum staking contract

A layer 1 blockchain Shido token experienced over 90% drop in just 30 minutes after an exploit, according to blockchain security firm PeckShield. Furthermore, the attacker transferred the Ethereum staking contract to another address and upgraded it with a hidden function to withdraw staked tokens. The blockchain security and data analytics company, PeckShield, reported that the hacker had withdrawn over 4.3 billion Shido tokens, nearly half of the nearly 9 billion circulating token supply. It is reported that the hacker funded the attack using multiple bridges but couldn’t further track the pilfered funds.

The Ethereum Foundation has announced that the Dencun network upgrade is set to go live on the Ethereum mainnet
4 weeks ago 1 min read

Ethereum announces Dencun upgrade is officially live on all testnets

The Ethereum Foundation has announced that the Dencun network upgrade is set to go live on the Ethereum mainnet on March 13, 2024. The upgrade, which follows the Shapella upgrade, includes major changes to both the consensus and execution layers of Ethereum Network, detailed in EIP-7569. Some important changes to the protocol include: EIP-1153 for transient storage opcodes, EIP-4788 for beacon block root in the EVM, EIP-4844 for shard blob transactions, EIP-5656 for memory copying instruction. Plus, EIP-6780 for SELFDESTRUCT only in the same transaction, EIP-7044 for perpetually valid signed voluntary exits. In addition, EIP-7045 for increase of the maximum