The cryptocurrency market has seen a concerning trend lately, with an increasing number of tokens being launched with limited circulating supply and inflated valuations. This has raised questions regarding the sustainability of the upside potential for traders following the token generation event (TGE). Binance Research’s latest findings have highlighted this issue, outlining the potential risks
Crypto
In a recent unanimous decision, the U.S. Supreme Court ruled against Coinbase Inc. in an arbitration dispute arising from the cryptocurrency exchange’s 2021 Dogecoin sweepstakes. The ruling clarified the importance of determining which legal agreement takes precedence when parties are governed by multiple contracts. This decision sheds light on the complexity of arbitration agreements and
Gala Game, a Web3 gaming project, recently fell victim to an exploit orchestrated by an unknown attacker. This attacker, referred to as a compromised or rogue admin address, managed to mint a staggering 5 billion GALA tokens, equivalent to over $200 million. The security breach was quickly contained, and the affected wallet was promptly frozen.
In a surprising turn of events, Michael Sonnhenshein, CEO of Grayscale, the world’s largest Bitcoin ETF, has announced his decision to step down from his position. This news comes as a shock to many in the industry, as Sonnhenshein has been a key figure at the company since 2014 and has served as CEO since
Dogecoin, the meme-powered cryptocurrency, has been making waves in the market recently. With a total market capitalization of $19.8 billion and trading at $0.145, Dogecoin seems to be on a steady upward trajectory. In comparison, Ripple XRP, with a price of $0.5 per token and a market cap of $27 billion, has been facing challenges,
Since the historic Merge upgrade on Ethereum over 19 months ago, the data is crystal clear – Ether (ETH) has been struggling to keep up with Bitcoin (BTC). The ETH/BTC price ratio hit a three-year low recently at 0.044, indicating that Ether’s market dominance against Bitcoin has been steadily decreasing. Many Ethereum bulls had high
As per the analysis of market conditions, Bitcoin is expected to stay within its current trading range until a more favorable macroeconomic environment presents itself. Factors such as profit margins, leverage, and the distribution of coin ages all play a role in shaping the landscape for the cryptocurrency. The current scenario hints at a more
On Monday, May 13, the spot Bitcoin and Ethereum ETFs in Hong Kong experienced a significant outflow of $39.3 million, marking the highest total outflow since their launch on the Hong Kong Stock Exchange on May 2. Specifically, funds from issuers Bosera, China Asset Management, and Harvest collectively lost $32.7 million in Bitcoin, while Ethereum
In the past 24 hours, the cryptocurrency market has experienced a significant calm after the storm, halting the bearish assault that was previously dominating. Bitcoin’s price is now hovering around $61K on a Sunday morning, while Ethereum has dropped below the crucial $3K level. Just a day ago, Bitcoin saw a sudden correction, plummeting below
Monero has seen a surge in discussions on social media platforms following the news of LocalMonero’s closure. Santiment data indicates a significant uptick in interest in Monero (XMR) as a result of this announcement. The closure of LocalMonero, a peer-to-peer exchange based on Monero (XRP), has generated a mix of internal and external factors as
