Author: News Room
Ethereum has reclaimed its position as the top-ranking blockchain in non-fungible token (NFT) sales over the past 24 hours, with a 12.06% rise to US$12.47 million, according to CryptoSlam data. The blockchain saw a slight decrease of 5.29% in wash sales on Wednesday, which are typically non-genuine transactions used to inflate volume. This performance has contributed to Ethereum’s all-time sales volume, which now sits at a market-leading US$43.27 billion. Bitcoin, which led the industry in NFT sales each day leading to Wednesday this week, came in second with US$10.9 million. Bitcoin’s performance helped the network reach a new milestone as…
Bitgo collaborates with Kava Chain to position conventional Wrapped Bitcoin (WBTC) to bring substantial conventional BTC liquidity to Kava ecosystem projects. Kava Chain becomes one of the few Layer 1 networks that Bitgo has associated with. Where the Wrapped Bitcoin is concerned, it is the biggest and most sought-after wrapped BTC asset. Kava Chain becomes similar to Ethereum and Tron because it is a Layer 1 with a conventional USDT and a WBTC incorporation. Following Tether’s selection of KAVA for positioning conventional USDT, Bitgo has formed an association with KAV for positioning WBTC. After that, Binance delivered conventional backing for…
The largest meme cryptocurrency, Dogecoin, and the 10th biggest one by the market capitalization size has printed a massive 19.19% price surge within the last 24 hours. This happened after whales’ activity in purchasing Dogecoin has peaked, and also in light of the recent news related to the biggest DOGE fan and crypto tycoon, Elon Musk. Whale acquires millions of Dogecoin as price jumps Cryptocurrency analyst Ali Martinez, popular on Crypto Twitter/X, has shared a Santiment chart to show that during the period of the last 72 hours, various Dogecoin whales have scooped up approximately 25 million DOGE evaluated at…
Ether (ETH) tumbled as much as 6% Wednesday as hopes dimmed for regulatory approval of a spot-based exchange-traded fund (ETF) in the U.S. The second-largest crypto asset by market capitalization sank to $3,200. Bitcoin (BTC), the largest, dropped to around $62,000 after bouncing to near $64,000 earlier. The broad-market CoinDesk 20 Index (CD20) fell 3%. Ether’s slide occurred after CoinDesk reported that network development organization Ethereum Foundation was under investigation by a “state authority.” Shortly after, Fortune reported that the U.S. Securities and Exchange Commission (SEC) is waging a campaign to classify the Ethereum blockchain’s native token as a security…
KuCoin, a prominent player in the global cryptocurrency exchange arena, has unveiled GemVote. This new initiative marks a significant shift towards a more democratic process in the curation and selection of cryptocurrencies for listing on their platform. GemVote is designed to empower the KuCoin community, enabling users to have a substantial say in the discovery and backing of new and promising crypto projects. This initiative not only reflects KuCoin’s dedication to fostering a user-centric ecosystem but also sets a new standard for community engagement in the cryptocurrency exchange landscape. Empowering Community Voices By allowing users to nominate and cast votes…
Quick Take The US Federal Reserve’s recent policy stance has had noticeable effects on various financial assets. The Fed maintained the fed funds rate at 5.25 – 5.50% on March 20 and signaled a slowed pace of balance sheet reduction. According to Zerohedge, Jerome Powell said, “We did not make any decisions today. The general sense of the committee is that it’ll be appropriate to slow the pace of runoff fairly soon, consistent with the plans we previously issued.” According to FRED data, the total assets on the Federal Reserve’s balance sheet have reached $7.542 trillion, marking a slight increase…
Tokentus Investment CEO Oliver Michel comments on ETHGate, asserts that Ethereum’s ICO is similar to Ripple’s institutional sales of XRP. Oliver Michel, the CEO of VC firm Tokentus Investment AG, recently commented on the ETHGate scandal, one of the most controversial topics in the crypto industry. ETHGate Explained For context, ETHGate involves allegations about the Ethereum team fostering relationships with top SEC officials to give ETH a regulatory edge over other crypto assets. According to critics, Ethereum’s relationship with the SEC allegedly prompted former director of Corporation Finance William Hinman to declare ETH as a non-security in his infamous speech…
Web3 security experts consider North Korea’s Lazarus Group the most prominent and sophisticated threat to the crypto industry in 2024. Earlier this week, the infamous Lazarus Group reportedly funneled $12 million through crypto tumbler Tornado Cash. The funds were allegedly linked to last November’s HTX and Heco Bridge hack, which saw the platforms lose over $90 million. However, this wasn’t the group’s only heist in 2023. Throughout the year, the North Korea-backed hackers compromised over $400 million worth of assets across various crypto platforms, including CoinEX, Poloniex, Stake.com, and Atomic Wallet. In 2022, the group was responsible for the biggest…
Saga, a key player in Layer-1 protocol and Web3 development, made waves at the Game Developers Conference (GDC) 2024 by introducing Saga Origins, a groundbreaking game publishing arm. This strategic move positions Saga as the pioneer and sole Layer-1 Web3 game publisher, setting a new standard for the industry.—Saga Origins is dedicated to partnering with developers to launch top-tier games, offering comprehensive support beyond traditional grants. This includes influencer collaborations, user acquisition campaigns, and community engagement initiatives. Through innovative Play-to-Airdrop campaigns, Saga, game studios, and guilds host tournaments rewarding players with $SAGA tokens. The recent success of The Three Kingdoms…
As excitement builds in the XRP community for the imminent launch of an automated market maker (AMM) system on the XRP Ledger, a prominent analyst has issued a stark warning. Popular cryptocurrency analyst Mr. Huber has told their over 64,000 on the microblogging platform X (formerly known as Twitter) that the price of XRP could tank after the AMM platform goes live. The analyst cited the experience of Stellar ($XLM), a major XRP competitor, as a cautionary tale, as XLM’s value plummeted by more than 80% after its AMM functionality went live in late 2021 amid a wider cryptocurrency market…