Author: Andrei Ionescu
In a significant move within the cryptocurrency sector, Justin Sun’s team address transferred 70,182 ETH (approximately $245 million) to HTX, according to blockchain analytics platform Spot On Chain. The transaction included 42,905 ETH unlocked from Lido Finance and an additional 27,277 ETH transferred from Etherfi. This latest transfer brings the total deposits by Justin Sun to HTX since November 10 to a staggering 179,101 ETH, valued at approximately $645 million. The deposits were made at an average price of $3,601 per ETH. Breakdown of Recent Activity HTX and Sun’s Growing Presence HTX, formerly Huobi Global, continues to be a focal…
The market value of Bitget’s exchange token, BGB, has surged to new heights, claiming the 23th spot in global cryptocurrency rankings, according to data from CoinMarketCap. Impressive Market Performance BGB’s meteoric rise has caught the attention of traders and analysts alike, with the token setting a new all-time high of 5.78 USDT. Its significant gains in the past 24 hours, combined with an impressive 224.13% increase over the last month, underscore its growing prominence in the crypto ecosystem. Driving Factors Behind BGB’s Rise The token’s surge may be attributed to a combination of factors: Outlook for BGB As BGB continues…
Binance has announced its decision to delist several spot trading pairs as part of its periodic review to maintain market quality. The review considers factors such as liquidity and trading volume. The following trading pairs will be removed and cease trading on December 27, 2024, at 03:00 UTC: Impact on Users While the trading pairs will be delisted, the underlying tokens will remain available for trading with other base and quote assets on Binance Spot. Spot Trading Bots Service Termination Binance will also discontinue Spot Trading Bots services for these pairs at the same time. Users are advised to update…
Binance has announced its support for the upcoming token swap and rebranding of Fantom (FTM) to Sonic (S). This transition will involve delisting existing FTM trading pairs, swapping all FTM tokens to S tokens, and introducing new Sonic (S) trading pairs. Key Details Token Swap and Trading Changes Deposits and Withdrawals Tokenomics Changes Impact on Trading Bots and Copy Trading Risk Warning and User Guidance A risk warning banner and notification will appear on the Binance trading page following the swap event. Binance will manage all technical requirements for the swap to ensure a seamless process for users. For more…
The cryptocurrency exchange-traded fund (ETF) market is set for a transformative 2025, building on significant advancements in regulation, product diversity, and institutional adoption. With Bitcoin and Ethereum ETFs now established, industry experts anticipate a wave of new crypto ETFs, including those for altcoins like Solana and Hedera, underpinned by a maturing regulatory landscape. A Breakthrough Year for Crypto ETFs In 2024, the crypto ETF market experienced unprecedented growth. Spot Bitcoin ETFs, approved earlier in the year, now hold over 5% of Bitcoin’s total supply—more than the estimated 1.1 million BTC attributed to Satoshi Nakamoto. Spot Ethereum ETFs followed in July,…
Binance Pool, the cryptocurrency exchange’s mining platform, has announced the launch of merged mining support for Junkcoin (JKC) and Pepecoin (PEP). This new feature allows miners to simultaneously mine Litecoin (LTC) while earning rewards in multiple cryptocurrencies, including LTC, Dogecoin (DOGE), Bellscoin (BELLS), Luckycoin (LKY), Junkcoin (JKC), and Pepecoin (PEP). Expanded Mining Opportunities Merged mining, also known as auxiliary proof-of-work (AuxPoW), enables miners to process transactions for multiple blockchains with a single computational effort. This increases efficiency and provides an opportunity to maximize earnings by mining additional coins alongside primary ones like Litecoin. By introducing Junkcoin and Pepecoin to its…
Bitcoin (BTC) may face further downward pressure in the coming weeks, presenting a potential “buy the dip” opportunity for long-term investors, according to Andre Dragosch, Director and Head of Research Europe at Bitwise Asset Management. Market Downturn Bitcoin, the world’s largest cryptocurrency by market value, saw an 8.8% decline last week, falling to approximately $95,000. This marks its steepest percentage drop since August, driven by hawkish signals from the Federal Reserve. The Fed’s announcement included fewer anticipated rate cuts for 2025 and reaffirmed its prohibition on holding BTC, which contributed to a broad risk-off sentiment across markets. Traditional financial assets…
President-elect Donald Trump has announced the appointment of Stephen Miran, a former Treasury official and economist with Hudson Bay Capital Management, as the new chair of the Council of Economic Advisers (CEA). The CEA plays a key role in advising the president on economic issues, analyzing trends, and formulating policies to promote growth and stability. A Crypto-Friendly Advocate Miran is known for his pro-crypto stance, having recently voiced his support for reforming U.S. cryptocurrency regulations to foster innovation. He has also criticized Federal Reserve Chair Jerome Powell in the past for urging Congress to pass a stimulus bill in 2020,…
Binance has announced the 63rd project on its Launchpool, unveiling Bio Protocol (BIO), a curation and liquidity protocol designed to support the emerging field of Decentralized Science (DeSci). The initiative offers users the opportunity to farm BIO tokens by locking Binance Coin (BNB) and FDUSD. Launchpool Farming Details Listing and Trading Binance will list BIO on January 3, 2025, at 10:00 UTC, with the following trading pairs: The token will carry the Seed Tag, reflecting its status as an early-stage project with unique growth potential. Tokenomics Farming Pools Participants can choose from two reward pools: Hourly Hard Caps: Participation Requirements…
Binance founder Changpeng Zhao (CZ) announced that European financial technology giant Revolut has listed Binance’s native cryptocurrency, BNB, on its platform. Revolut, Europe’s largest unicorn company, serves approximately 40 million users globally, with one-third of its user base located in the United Kingdom. The platform’s core services include digital banking, foreign exchange, cross-border payments, international remittances, and cryptocurrency trading. A Growing Crypto Ecosystem The listing of BNB on Revolut signals the platform’s continued expansion of its cryptocurrency offerings, catering to its diverse global user base. BNB, originally launched to support transactions on the Binance platform, has grown into a multifaceted…