Author: NBTC
There has been a remarkable surge in USDT transactions within the TRON ecosystem via TronDAO, showing a substantial increase since early February, now averaging over two million transactions daily. According to the latest data compiled by IntotheBlock, the surge brings the transaction volume close to the peak observed in January 2023. USDT Transaction Volume Soars on TRON DAO For the uninitiated, TRON DAO is a decentralized autonomous organization connected to a blockchain ecosystem. USDT, complying with the TRC-20 token standard on TRON, allows transfers using various non-custodial wallets like TronLink, Trust Wallet, and MetaMask. TRON’s popularity for stablecoin transfers, particularly…
The UK’s financial watchdog dedicated nearly a third (30%) of its financial crime specialists to overseeing crypto asset businesses in 2023, according to a report released on May 1. The Financial Conduct Authority (FCA) said it conducted risk assessments across various sectors and identified retail banking, wholesale banking, wealth management, and crypto-asset firms as especially susceptible to financial crime in 2023. These sectors were deemed the most at risk of being misused for money laundering activities. In its fight against financial crime, the FCA’s team of specialists conducted a significant number of reviews. This included 231 in-depth analyses (desk-based reviews)…
Ethereum price dipped below the $3,000 mark on Tuesday May 2, 2024 after bulls failed to build on the 9% weekend rebound that saw ETH soar as high as $3,300 on April 28, but recent whale activity offers a glimmer of hope. Ethereum Price Surrenders Weekend Gains after Fed Rate Announcement Ethereum price showed early recovery signs last weekend, as the bulls engineered a 9% recovery between April 27 and April 30. But with the bulls failing to sustain the weekend demand surge, ETH bears swiftly returned to the driving seat, forcing a 14% downswing in the last 48 hours,…
In a significant development for both the AI and cryptocurrency sectors, SingularityNET (AGIX), Fetch ai (FET) and Ocean Protocol (OCEAN) have jointly announced the establishment of the Artificial Superintelligence Alliance (ASI). The focal point of this collaboration is the creation of a unified AI token, known as the ASI token, consolidating the AGIX, FET and OCEAN tokens. This initiative, driven by a desire to enhance interoperability and streamline operations, is a response to the growing demand for decentralized AI solutions. With an estimated valuation of $7.5 billion, the ASI token is poised to become a pivotal asset within the AI…
Rabotnik, an affiliate of the REvil ransomware group, has been sentenced to 13 years and seven months in jail. Previously, Rabotnik was extradited to the U.S. from Poland and then pleaded guilty to an 11-count indictment. Yaroslav Vasinskyi, the Ukrainian national who is also known as Rabotnik, has been sentenced to 13 years and seven months in prison for his role in conducting over 2,500 ransomware attacks and demanding over $700 million in ransom payments, the Department of Justice announced on Wednesday. The sentencing is part of a wider crackdown on ransomware groups which U.S. President Joe Biden promised in…
Prominent cryptocurrency tracker Whale Alert has published a post on the X platform about a recently awakened crypto whale. This wallet contains millions worth of Ethereum. This premined whale had spent almost nine years in dormancy – this means since 2015, the year that followed the end of the Ethereum initial coin offering (ICO). The reactivated wallet contains almost 2,000 ETH worth $5,876,786. 💤 A dormant pre-mine address containing 1,969 #ETH (5,876,786 USD) has just been activated after 8.8 years!https://t.co/MzyVVkMhIc — Whale Alert (@whale_alert) May 2, 2024 Ethereum Foundation dumps ICO ETH Prior to this awakening, an ancient wallet that…
The XRP Ledger (XRPL) protocol is set to ship in a major update to the Automated Market Maker (AMM) feature that went live on the mainnet in the past week. Need for AMM amendment Dubbed the “fixAMMOverflowOffer,” this update was shipped as a means to address “the improper handling of large synthetic AMM offers in the payment engine.” With the AMM feature launch, a technical glitch was discovered that necessitated revamped work to forestall related changes to the network. While the protocol is running well at the moment, the fixAMMOverflowOffer will come in handy as the AMM engine sees more…
Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. This required all exchanges operating within the city to submit applications for licenses by Feb. 2024. The competition is fierce, with 24 companies vying for these coveted licenses. Approval from Hong Kong’s top financial watchdog, the Securities and Futures Commission (SFC), is highly sought-after, due to its reputation as a prestigious…
BTC, ETH nurse losses after weak demand for Hong Kong ETFs. The six ETFs registered a first-day trading volume of just $11 million. Bitcoin (BTC) faced selling pressure during European hours after data showed poor uptake for Hong Kong’s newly listed exchange-traded funds tied to bitcoin and ether. The leading cryptocurrency by market value fell nearly 2% from $63,300 to under $61,000 in 60 minutes to 09:00 UTC, CoinDesk data show. Ether (ETH), the second-largest cryptocurrency, slipped 2.8% to $3,066. The six ETFs that commenced trading in Hong Kong on Tuesday fell far short of expectations, with a combined trading…
Ethereum (ETH) price witnessed a fate similar to the rest of the crypto market when the altcoin slipped below $3,000. This, however, has only further validated the bullish pattern ETH has been stuck in. Closing in on a potential breakout in the next few trading sessions, the altcoin is exhibiting the ideal conditions for accumulation. Ethereum Selling Slows Down Investors need to exhibit optimism for a substantial bounce back in Ethereum’s price, as seen in parts of the recent shift in behavior. The exchange net position change shows that ETH outflows have halted in the last 24 hours as investors…