Author: Andrei Ionescu
Memecoins on the Solana network have seen a significant surge, rising over 30% in the past 24 hours. This uptick comes as Solana’s native token, SOL, rebounds sharply from earlier losses, leading gains across the crypto market. In a remarkable recovery, memecoins on the Solana blockchain, such as popcat (POPCAT) and dogwifhat (WIF), have surged as much as 25% before slightly retreating. Smaller tokens like MUMU and catdog (CATDOG) have risen by 30%, according to recent data. This strong performance contrasts with major memecoins on other blockchains, such as dogecoin (DOGE) and pepe (PEPE), which have experienced declines of up…
OKX to Delist Several Spot Trading Pairs Cryptocurrency exchange OKX has announced the delisting of several spot trading pairs as part of its ongoing efforts to maintain a high-quality trading environment. The affected pairs will be removed on August 9, 2024. OKX has decided to delist the following trading pairs: MSN/USDT, OMN/USDT, REP/USDT, BTC/EURT, ETH/EURT, EURT/USDT, IGU/USDT, PCI/USDT, and SLN/USDT. This decision comes after a review of the performance and listing qualifications of these pairs, in accordance with user feedback and the OKX Token Delisting/Hiding Guideline. The delisting will be executed between 8:00 am and 8:30 am UTC on August…
Both former President Donald Trump and Wyoming Republican Sen. Cynthia Lummis have proposed plans to have the U.S. government hold bitcoin. As markets slipped on Monday, supporters said the asset could be seen as a buffer to fluctuations, while critics raised concerns over bitcoin’s expanded role. Lummis released a draft bill last week directing the U.S. Treasury to buy one million bitcoin over a period of five years. The government would hold those coins for at least 20 years unless the tokens are sold to decrease the debt, Lummis told The Block. GOP presidential candidate Trump has also said he…
Ethereum (ETH) staking has reached a record high of 27.95% of its total supply, reflecting significant growth in the liquid staking and restaking sectors. This surge comes despite a recent decline in ETH’s price. Ethereum’s staking percentage has hit a new milestone, reaching 27.95% of the total ETH supply. This figure represents a rebound from a brief dip in late July when the staking percentage fell from 27.58% to 26.82% in a single day. Since then, staking has not only recovered but surpassed previous highs, with an increase of 1.9% since the launch of ETH exchange-traded funds (ETFs). Remarkably, this…
Galxe (GAL) has unveiled plans to migrate its token to the Gravity (G) ERC-20 token standard. Coinbase has announced it will support the new Gravity token on the Ethereum network. However, Coinbase will not facilitate the migration of assets for users. Galxe, a leading player in the decentralized technology space, is transitioning its existing GAL token to the Gravity (G) ERC-20 token standard. This move is part of Galxe’s broader strategy to enhance its token’s functionality and integration within the Ethereum ecosystem. In response to this change, Coinbase has confirmed it will add support for the Gravity (G) token on…
In a strategic move during a broad market downturn, Ark Invest, led by Cathie Wood, acquired nearly $18 million worth of Coinbase shares on Monday. The investment firm purchased a total of 93,797 Coinbase shares across three of its exchange-traded funds (ETFs), as the cryptocurrency market and broader financial markets experienced significant turbulence. According to the firm’s latest trade filing, Ark Invest acquired: This purchase marks Ark’s first significant buyback of Coinbase shares since June 2023, when it acquired $21 million worth of the stock. Following that acquisition, Coinbase’s share price surged more than 250%, prompting Ark to sell portions…
Binance, the world’s largest cryptocurrency exchange, has formally challenged a nearly $86 million tax notice issued by India’s Directorate General of Goods and Services Tax Intelligence (DGGI), according to a source familiar with the matter. The DGGI, which operates under the Ministry of Finance, issued the showcause notice to Binance last week. The notice alleges that Binance failed to collect and remit taxes from Indian customers trading on its platform. The period in question spans from July 2017 to March 2024. The DGGI, based in Ahmedabad, is responsible for collecting and analyzing intelligence related to indirect tax evasion. It has…
Latest Prices: CoinDesk 20 Index: 1,782 (+8.8%)Bitcoin (BTC): $54,931 (+6.4%)Ether (ETH): $2,448 (+8.0%)S&P 500: 5,186.33 (−3.0%)Gold: $2,455 (+2.2%)Nikkei 225: 34,260 (+10.2%) The cryptocurrency market showed signs of recovery on Tuesday following Monday’s dramatic sell-off. Bitcoin briefly regained the $56,000 mark during the Asian morning hours, reflecting a broader market rebound. As of the latest data, Bitcoin is trading around $55,000, up approximately 7% from the previous day. Solana (SOL) led the recovery with a notable 13% gain, trading around $137. XRP and DOGE also posted significant gains, rising by approximately 7.5% and 11.8%, respectively. Despite the recovery, Bitcoin’s price has…
The Ronin blockchain network, associated with the popular play-to-earn game Axie Infinity, has suspended its bridge following a suspicious $9.8 million outflow to a miner extractable value (MEV) bot. The transfer, which occurred at approximately 9:37 a.m. UTC on Tuesday, involved the movement of over 3,996 ETH. This transaction is being investigated, with speculation suggesting it may be related to white hat activity. The bridge was paused shortly after the transaction at 10:15 a.m. UTC. Aleksander Larsen, co-founder of Axie Infinity and the Ronin Network, known as “Psycheout,” announced the suspension on X (formerly Twitter), stating, “The Ronin_Network bridge has…
The decentralized prediction platform Polymarket is witnessing significant activity as users place a $1.44 million bet on the Federal Reserve cutting interest rates by September 2024. This wager reflects broader market speculation and uncertainty surrounding the Fed’s future actions amid a recent market downturn. The $1.44 million bet on Polymarket is split between predictions that the Fed will cut rates by over 50 basis points (bps) and by 25 bps. Specifically, users have placed $687,343 on the likelihood of a 50 bps cut and $313,224 on a 25 bps cut. Current Polymarket data suggests a 58% chance of a rate…