Author: News Room
Amid a tumultuous week for the crypto market, ETH whales have made substantial moves, cashing out millions before Ethereum’s price downturn. In the past four days of market downtime, three smart traders have offloaded a staggering 26,946 ETH, equivalent to a jaw-dropping $95.7 million. Their combined profits stand at an impressive $39 million, according to data from Spot On Chain. The first trader, identified as “0xb82,” executed a strategic move, selling 7,300 ETH for $24.4 million in stablecoins via Binance, netting a handsome profit of 22.7%, which is equivalent to a remarkable $4.59 million. Not far behind, “0xebf” deposited 8,870…
Armstrong said that the heavy trading demand was the cause of the many outages. The traffic spiked by more than 10 times in only one hour as a result of the Bitcoin price rise. Following its recent spate of unscheduled failures, crypto exchange Coinbase has said that it would have to upgrade its infrastructure in order to adequately address the problem. If Coinbase wants to significantly reduce the number of outages it has had in the last several weeks, it has to invest heavily in its trading infrastructure. In a recent interview with Bloomberg TV, CEO Brian Armstrong stated this…
In what comes as an unexpected curveball witnessed within the cryptocurrency universe, XRP, a cryptocurrency backed by Ripple Labs, curated a tsunami of speculations today, March 20, as a renowned whale continued dumping significant amounts of tokens amid XRP’s price dip to $0.5. Following a noteworthy upward momentum showcased by the Ripple-backed token over the past few days, as it topped $0.7, this whale’s dump underscored XRP’s recently witnessed bearishness within the broader crypto market, birthing a torrent of speculative buzz on the token’s price action ahead. Read the full article here
Animoca Brands seed company, Mocaverse, announced collaborating with numerous patterns. The objective is to strengthen its presence in the Korean market through immersive experiences and increased engagement with users. The list includes the likes of GOMBLE, IPX, Cube Entertainment, Nine Chronicles M, and Daehong Communication. A partnership with multiple players entails an activation plan in the areas of digital IP, K-pop, and GameFi, among others. It will tentatively go live this week. Moca ID will remain at the center of the partnership. Recognized as the ecosystem’s on-chain identity system, Moca ID will help users gain access to the world of…
A South Korean altcoin issuer has been arrested on fraud charges. Prosecutors in the country have accused him of duping investors out of $16.1 million. Per Newsis, the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team arrested the unnamed individual on March 19. South Korean Altcoin Issuer ‘Conspired with Market Maker’ The arrest follows a crypto market maker’s dramatic and ultimately unsuccessful sea escape in December last year. On December 20, 2023, Coast Guard officials intercepted a boat carrying the market maker, surnamed Park (42) and nicknamed Jon Bur Kim. Under this alias, Park also built up…
Heroes of Mavia (MAVIA) token price has remained in a consolidation phase even after several important events in the ecosystem. The coin retreated to a low of $6.50 on Monday, about 32% below its highest point level this month. This decline has brought its market cap to over $196 million. Heroes of Mavia, one of the fastest players in the games in the blockchain industry, has made several headlines in the past few months. In February, the company decided to embrace Base, the layer-2 network by Coinbase, as its blockchain of choice. They believe that Base has superior speeds and…
Nasdaq-listed firm MicroStrategy, the enterprise software company known for its aggressive Bitcoin investment strategy, has further solidified its position as a major player in the cryptocurrency space by adding an additional 9,245 BTC for $623 million, bringing its total holdings to over 1% of BTC’s supply. In a filing with the U.S. Securities and Exchange Commission on Tuesday, the company revealed its second multi-million dollar Bitcoin purchase in just over a week, which brought its total Bitcoin holdings to 214,246 BTC. The company financed the purchase primarily through the sale of convertible notes, similar to its previous Bitcoin acquisition of…
Binance, the world’s largest crypto exchange, has announced the delisting of DREP (DREP), MobileCoin (MOB), and pNetwork (PNT). This action, taking effect on April 3, 2024, at 03:00 UTC, will see the removal of associated trading pairs from its platform. Why Binance Will Delist These Altcoins In their evaluation process, Binance scrutinizes several factors. These include the team’s commitment to the project and the level of development activity. Also considered are trading volume, liquidity, and network stability. Additionally, the exchange assesses compliance with new regulatory standards and the contribution to a sustainable crypto ecosystem. “When a coin or token no…
Institutional investors’ strong demand for buying the spot Bitcoin ETFs and BTC’s history of strong outperformance around the supply-halving event are thought to be the main reasons for Bitcoin hitting new all-time highs in 2024. The Bitcoin (BTC) halving has previously been associated with bull markets, with the price displaying a parabolic uptrend and a price peak in the months following the event. Halvings happen every four years and reduce miner block rewards by 50%. The next halving is roughly 3 days away and will reduce block rewards from 6.25 BTC to 3.125 BTC. Bitcoin halving countdown. Source: CoinMarketCapImpact of past…
BitcoinIRA is on a mission to help Americans retire. In 2016, the founders had a vision that changed the American retirement landscape forever. BitcoinIRA brought the first cryptocurrency IRA to the world and has been the market leader since igniting the industry. Chris Kline is the co-founder and CRO at BitcoinIRA. He recently joined the […] Read the full article here