The native OP token of Optimism has been facing a significant downturn in price among the top 50 cryptocurrencies, dropping as much as 10% in the week leading up to a $30 million token unlock. With 24.16 million OP tokens set to be unlocked on September 30, comprising approximately 3% of the circulating supply, a
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The U.S. Securities and Exchange Commission (SEC) has raised concerns over a reorganization plan put forth by the bankrupt cryptocurrency firm Celsius. The plan involves enlisting Coinbase, a prominent crypto exchange, to act as a distribution agent in order to return funds to affected users. However, the SEC argues that Coinbase’s role goes beyond the
The market for BANANA coin, a token on the Ethereum Network, has experienced a turbulent day, with significant fluctuations in its value. Despite an initial 18% gain, the coin ultimately settled for a modest 2.57% increase. This raises concerns about the coin’s future prospects and leaves investors uncertain about its short-term and long-term potential. Various
Hong Kong’s Securities and Futures Commission (SFC) has implemented new measures in response to the fallout from the JPEX incident, aiming to strengthen investor protection and enhance regulation in the cryptocurrency industry. These measures include the publication of a comprehensive list of licensed Virtual Asset Trading Platforms (VATPs), the launch of a fraud prevention publicity
NHN Corporation, a well-established global IT company, has recently announced its strategic partnership with Mysten Labs, signifying its entrance into the Web3 gaming arena. Known for its diversified business portfolio spanning gaming, payments, entertainment, IT, and advertising, NHN Corporation is a prominent player in the industry. With its extensive expertise in webtoon, music, commerce, fintech,
Arbitrum, a prominent Layer 2 solution for the Ethereum blockchain, has taken a significant step by adding the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. This move by the Arbitrum Foundation marks an important milestone for the project and its community. On September 24th, the Arbitrum Foundation made an official announcement on
Bitcoin, the leading cryptocurrency, has experienced a significant reduction in trading volume and market liquidity this year. This decline in liquidity poses a potential risk for Bitcoin, as it could lead to a steep correction in its price. Market analysts have pointed out the impact of dwindling liquidity on Bitcoin’s stability and the potential consequences
South Korea’s financial authorities are set to implement more stringent eligibility reviews for major shareholders in cryptocurrency exchanges. This move is reminiscent of the standards upheld within the banking sector and comes in response to recent legal issues involving shareholders of prominent domestic exchanges like Bithumb and Upbit. To address these concerns, the Financial Intelligence
Chainlink, the decentralized oracle network, has found itself at the center of controversy due to a recent change in the number of signers required on its multisig wallet. The move has garnered backlash on social media from vocal critics, leading to concerns about the security and decentralization of the network. Crypto researcher Chris Blec was
Bitcoin price is once again facing a downward trend, breaking below the crucial $26,500 support level. This decline comes after an unsuccessful attempt to surpass the $27,500 resistance level. The failure to breach this level has put BTC at risk of further losses in the near term. BTC is currently trading below the $26,500 mark
