Author: NBTC
THORSwap, a decentralized exchange (DEX) running on the THORChain network, has faced a steep decline in the price of its native token, THOR, following an incident involving illicit fund movements. The THORSwap token price has plummeted by 55.5% over the past month, with losses of 36.9% in the past two weeks alone. This downturn has persisted despite THORSwap’s efforts to re-establish trust with users by implementing stringent security measures and introducing new features, including an innovative wallet integration. Paused operations On October 6, 2024, THORSwap paused operations after detecting suspicious transactions tied to funds from the FTX hack. Blockchain analytics…
Another Democratic commissioner on the Securities and Exchange Commission is following Chair Gary Gensler out the door in January, leaving the agency with a Republican majority as it weighs a likely course shift under the new administration of President-elect Donald Trump. Commissioner Jaime Lizárraga is leaving January 17, he said in a Friday statement, which could give Republicans a head start on what could otherwise have been months of delay in redirecting the regulator’s policies — including on cryptocurrency. At this point, Caroline Crenshaw will be the sole Democrat on the five-member commission going into 2025, and her term has…
The price of Bitcoin (BTC) faced a minor dip recently as it went below the $68,000 level. However, this has not stopped whales from continuing their buying spree. They are anticipating a new all-time high (ATH) from BTC despite the recent dip. Overall crypto market sentiment is also on the bullish side, injecting stability into the market. Earlier today, leading crypto tracking service Whale Alert detected a massive Bitcoin transaction from a whale. It reported that 1,446 BTC were transferred from an unknown wallet to Binance, the largest crypto exchange in terms of trading volume. This latest Bitcoin transfer is…
Ethereum’s derivatives market may be signaling bullish momentum today, with futures open interest rising by over 12% to reach an all-time high of $20.8 billion. Ethereum Futures Open Interest Surpasses $20 Billion, Reaching All-Time High: This follows a 7% price increase in the last 24 hours that took Ethereum to $3,365. Open interest, which measures the total number of contracts outstanding in a derivatives market, has reached unprecedented levels for Ethereum, with analysts attributing the increase to growing bullish sentiment among derivatives traders. According to a CryptoQuant report, the Ethereum OI-weighted futures funding rate has risen multiple times over the…
Wall Street is having a meltdown, and MicroStrategy is right in the middle of it. The company, best known for holding more Bitcoin than anyone else, has become the focal point of chaos surrounding two hyper-leveraged ETFs. These funds, designed to amplify MicroStrategy’s already insane stock movements, are pushing prime brokers and traders to their breaking points. The chaos started with Matt Tuttle, the manager behind the T-Rex 2X Long MSTR Daily Target ETF (MSTU). His fund, which doubles the return of MicroStrategy’s stock, exploded onto the scene in September, immediately attracting hundreds of millions of dollars. But Tuttle hit…
Chainlink is evolving rapidly, with a major Cross-Chain Interoperability Protocol (CCIP) upgrade now live on the mainnet. The decentralized Oracle service said this CCIP v1.5 upgrade has the power to transform how connected protocols share data. Chainlink named four unique enhancements that went live alongside the upgrade. Chainlink CCIP upgrade: What changed? Per the Oracle protocol, CCIP now has its own tailor-made CCT standard. With this, the CCIP can enable cross-chain native tokens featuring self-service deployments, full control and ownership, enhanced programmability and zero-slippage transfers. Introducing the CCIP v1.5 upgrade.🪙 Cross-Chain Token (CCT) standard 💻 Self-serve token onboarding🏗️ CCIP SDK…
The year is 2024; Bitcoin is setting new all-time highs, and Trump’s crypto-friendly administration has not even resumed office yet. Gary Gensler, who suffocated crypto firms like Binance and besieged tokens like XRP, has shared his plans to step down. Throughout its tenure, Gensler’s SEC faced criticism for stifling innovation, not providing clear regulatory frameworks, and regulating by enforcement. And in Gensler fashion, he announced that he would step down on the same day the former president returned to office. The markets reacted positively to Gensler’s resignation from SEC leadership, especially tokens like XRP, which have been hit with different…
Binance expands its compliance team to meet the growing needs of the crypto industry and its user base. Compliance Remains Vital for Binance By the end of the year, Binance, one of the world’s largest cryptocurrency exchanges, plans to have 645 full-time compliance staff members—a 34% increase from November 2023—as it continues to expand its compliance division. The cryptocurrency exchange employs over 1,000 compliance-focused staff members, including contractors. Furthermore, the company has almost achieved its 2024 target for its Risk team with 137 of the 138 employees already on board. This was contained in a blog on Friday, where Binance…
Experts point to election-related developments as the driving force behind Bitcoin’s recent upward trend. Avinash Shekhar, CEO and co-founder of Pi42, said that the leading cryptocurrency is approaching the $70,000 resistance level amid a mix of political factors and favorable macroeconomic conditions. “Bitcoin hits $68,700 on Kamala Harris’ support for crypto, Trump’s 60% re-election odds, low interest rates and easing fears of World War III,” Shekhar said in a statement. He added that Bitcoin bulls are targeting $72,000 in the near term, while bears are attempting to sustain a drop below $66,500. Open Interest Rises as Investors Bets on Breakout…
Ethereum (ETH) lost its three-year support against Bitcoin (BTC) as the most prominent cryptocurrency rallied towards its $100,000 target on Friday, November 22. ETH has faced sticky resistance at $3,500 for nearly four months while competitors hit record highs this cycle. Table of Contents Ethereum loses favour with institutional investors, ETF performance lacklustre Solana challenges Ethereum’s dominance, on-chain analysis Bitcoin leads cryptos with digital gold narrative Ethereum future expectations and technical analysis Strategic considerations Ethereum loses favour with institutional investors, ETF performance lacklustre Ethereum slipped to a low of 0.03187 against Bitcoin on Friday, November 22. As Bitcoin made its…