Author: Max Bauer
OKX, a global cryptocurrency exchange, today announced a significant partnership with Standard Chartered Bank, one of Hong Kong’s three major note-issuing banks and a globally recognized financial institution. Standard Chartered will serve as a third-party custodian for OKX’s institutional clients, providing enhanced security and trust for their digital assets. This collaboration marks a significant step in the maturation of the institutional cryptocurrency market. As institutional interest in digital assets continues to grow, the need for robust and secure custody solutions becomes paramount. OKX’s partnership with Standard Chartered directly addresses this need, offering institutional investors the assurance of a reputable and…
Cryptocurrency mogul Justin Sun has hinted at a significant upcoming announcement for the Tron (TRX) network. The news comes amidst a broader cryptocurrency market rally, with Bitcoin (BTC) recently surpassing the $72,000 mark. In a recent social media post, Sun cryptically stated, “Big news for Tron is coming soon.” He further added that the era of “announcements of announcements” has finally begun, suggesting that the Tron ecosystem is poised for significant developments. While the specific details of the announcement remain undisclosed, Sun’s subsequent post, “Tron meme is ready for flight,” has sparked speculation that the focus may be on memecoins.…
Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a premium service called Binance Wealth. This initiative aims to provide a tailored onboarding experience for affluent clients, allowing them to access a diverse range of digital assets. The Binance Wealth service, announced on Tuesday, will feature dedicated private client managers responsible for guiding HNWIs through the onboarding process. These managers will handle the necessary know-your-customer (KYC) documentation and establish individual sub-accounts for each client, enabling them to trade or stake a wide variety of cryptocurrencies while enjoying a traditional wealth management experience. Additionally, support from Binance’s VIP key…
A recent analysis by cryptocurrency analytics firm CryptoQuant suggests that The Open Network (TON) could soon surpass Ethereum in terms of the number of unique wallet holders. According to the firm, TON’s rapid growth, averaging 500,000 new holders per day, positions it to potentially overtake Ethereum by December 20th, 2023. This projection is based on the current rate of growth and the assumption that it continues at a similar pace. However, CryptoQuant also acknowledges that the growth rate might decelerate. A more conservative estimate, considering a one standard deviation reduction, suggests that the crossover could occur around February 3rd, 2025.…
CryptoQuant, a leading cryptocurrency analysis firm, has recently shared insights suggesting a potential upward trajectory for Bitcoin. The firm’s analysis focuses on the behavior of miners, a key indicator of market sentiment and future price movements. According to CryptoQuant, miners are currently holding onto their Bitcoin rather than selling it off. This behavior, as indicated by the Miner Position Index (MPI), is historically associated with significant price increases. A rising MPI suggests that miners are bullish on Bitcoin’s future and are accumulating rather than liquidating their holdings. Furthermore, the increase in block rewards per block points to growing network activity,…
The limitations of Ethereum’s mainnet infrastructure are pushing users, applications, and capital towards Layer-2 solutions and competing blockchains like Solana, according to analysts. The demand for faster and more scalable solutions is driving this migration. Anmol Singh, co-founder of Zeta Markets, told that Ethereum’s underlying infrastructure struggles to handle the growing volume of users, transactions, and data. This has led to the development of Layer-2 solutions, but users and capital are also migrating to alternative Layer-1 blockchains like Solana. While Layer-2 solutions offer scalability benefits, they also introduce the challenge of liquidity fragmentation. Qi Zhou, founder of QuarkChain and EthStorage,…
Bitcoin’s price surged past $68,000 this morning, marking a 100% increase over the past year. This surge comes amid renewed speculation about the cryptocurrency’s connection to political cycles and global economic trends. Matthew Sigel, Head of Digital Assets Research at VanEck, appeared on CNBC this morning, offering insights into Bitcoin’s recent performance and future potential. VanEck Makes a Bold Prediction for Bitcoin in 2050 Sigel suggested a correlation between Bitcoin’s recent climb from $57,000 to nearly $70,000 and improving odds for a particular presidential candidate, echoing a pattern observed in 2020. He highlighted former President Trump as the more pro-Bitcoin…
Phantom, the leading Solana and multi-chain web3 wallet, experienced significant downtime today due to what SolanaFloor described as a major backend incident. The disruption comes at a particularly inopportune time as users attempt to claim tokens from the highly anticipated GRASS airdrop. Users reported seeing inaccurate account balances, though Phantom officials quickly assured that funds remain secure. While the browser extension and mobile app continue to function, the company acknowledged an “ongoing incident” through their status page, marking it as a “major issue.” “We’re currently experiencing an uptime incident and some services may be temporarily disrupted,” Phantom announced on X.…
Circle, in collaboration with Inco Network, has announced a groundbreaking development in blockchain technology that could reshape the landscape of digital asset privacy. The companies released a whitepaper detailing their “Confidential ERC-20 Framework,” a pioneering solution that enables private cryptocurrency transactions while maintaining regulatory compliance. The framework, announced today, introduces a novel approach to handling ERC-20 tokens by implementing privacy features that mask both balance information and transaction amounts. This development marks a significant leap forward in addressing one of cryptocurrency’s most pressing challenges: balancing privacy with regulatory requirements. “This framework represents a major milestone in blockchain technology,” said a…
Cryptocurrency markets are watching the US Presidential election closely, but Bitcoin’s price action is showing signs of decoupling from former President Donald Trump’s perceived chances, according to analysis from QCP Capital. While Trump’s recent interview on the Joe Rogan Experience podcast has boosted his odds on prediction markets like Polymarket to over 66%, Bitcoin’s correlation with these odds appears to be weakening. Correlation Between Bitcoin Price and Trump’s Likelihood of Winning the Election is Declining Historically, some analysts have referred to Bitcoin as the “Trump Trade,” suggesting a positive correlation between his political fortunes and the cryptocurrency’s price. However, despite…