Author: NBTC
FTX/Alameda continues to redeem and transfer large amounts of Solana (SOL) from its staking address. Just three hours ago, roughly 182,421 SOL (worth about $32.35 million) were redeemed and sent to 20 different addresses. This follows a pattern of similar monthly activity over the past year, with FTX/Alameda redeeming and transferring millions of SOL tokens regularly. Source: X Since November 2024, FTX/Alameda’s staking address has redeemed 4.445 million SOL tokens, worth roughly $516.88 million. The average transfer price for these tokens is about $116.2 each. The address currently holds 6.47 million SOL (valued at $1.18 billion) staked in the system.…
On Thursday, bitcoin (BTC) hit $98,367 per coin before sliding to $96,524. That same day, a dormant whale from 2016 stirred after eight years, spending a hefty 500 BTC, now valued at $48.26 million. Long-Term Holders Come out of the Woodwork Long-term holders (LTHs) are stepping into the spotlight as bitcoin’s price ascends. Glassnode’s latest analysis highlights this trend, noting increased activity among veteran wallets. At block height 871,347, a wallet created on Oct. 4, 2016, moved 500 BTC for the first time since receiving the stash. The onchain action was first discovered by the Bitcoin blockchain parser btcparser.com. Back…
Proponents of decentralized finance believe that the development of artificial intelligence (AI)-powered tools could enhance security and counter cybercriminals. AI to Help Defi Platforms Combat Cybercrime According to Peckshield’s Annual Crypto Security Report, digital assets worth $3.01 billion were stolen in 2024. The report’s data shows losses were split nearly evenly between centralized finance (cefi) and decentralized finance (defi), suggesting improved security for defi platforms. For context, defi platforms accounted for roughly 80% of the $3.6 billion lost in 2022 and 70% of the $2.6 billion lost in 2023. While losses for cefi and defi platforms in 2024 appear almost…
Yuga Labs may be in the process of selling the intellectual property rights to the Crypto Punks collection. The top NFT collection became the property of Yuga Labs in 2022, retaining its status as an exclusive club. Rumors are circulating about an eventual buyer of intellectual property rights for the Crypto Punks collection. Yuga Labs, the Bored Apes producer, acquired the Punks collection rights in 2022. They have yet to comment on the potential rights sale. The company also retains the rights to Meebits, which it acquired in addition to the Punks intellectual property rights. Yuga Labs has issued or…
XRP has surged to its highest level since May 2021, reaching a peak of $1.67 Friday morning, per data from CoinGecko. At time of publication, the price of XRP has settled at $1.66, up 13.8% on the day and 12.8% in the last week. Its price move comes amid growing speculation that an XRP exchange traded fund (ETF) may be on the horizon, alongside optimism around the potential of change at the U.S. Securities and Exchange Commission (SEC). On Monday, global ETF provider WisdomTree registered an XRP ETF in the state of Delaware, according to Fox Business—the first step to…
Kenya’s Treasury Cabinet Secretary John Mbadi has said the country is preparing legislation to legalize cryptocurrencies, a shift from the government’s previous warnings against the industry. “The emergence and growth of Virtual Assets (VAs) and Virtual Asset Service Providers (VASPs) have given rise to innovations in the local and international financial system with dynamic opportunities and challenges,” Mbadi said according to local news outlet The Standard. Mbadi stressed a need for a regulatory framework to both capitalize on the potential benefits of the industry while mitigating the risks posed by money laundering, terrorism financing and fraud. “The Government of Kenya…
BingX Launchpad exclusively debuts SOLV tokens, enabling unique participation in Solv Protocol’s DeFi-focused innovations. Solv Protocol simplifies Bitcoin staking and enhances DeFi opportunities, integrating seamlessly with BingX’s Launchpad ecosystem. BingX has announced the exclusive launch of the SOLV token from Solv Protocol on its Launchpad, representing a significant step forward in the integration of decentralized finance (DeFi) and unique token distribution schemes. Users starting January 16, 2025, will be able to subscribe to SOLV tokens and trading on BingX’s spot market will start the next day. Fast-expanding DeFi platform Solv Protocol has attracted interest for its innovative ideas improving liquidity…
Bitcoin prices rose above $99,000 on Thursday, November 21, as the digital currency came ever closer to breaking through the $100,000 level. The world’s most popular cryptocurrency reached nearly $99,400, according to Coinbase data from TradingView. The digital asset, which has generated substantial visibility at many points, has managed to draw even more eyeballs recently as highly favorable market conditions push it to a string of fresh, all-time highs. “The sentiment for Bitcoin is extremely bullish right now: From traders, media, retail investors an big institutions: Everybody wants to be part of the actual bull run which might be still…
The DeFi is going through a turbulent phase with a significant decline in the total value locked (TVL) of prominent blockchains. DeFiLlama, a globally recognized decentralized finance (DeFi) TVL aggregator, has revealed the statistical details of the top blockchains past week. The report reveals top blockchains in terms of TVL include Ethereum, Solana, Tron, Bitcoin, BSC, Base, Arbitrum, Sui, Hyperliquid, and Avalanche. Despite their significant TVL levels, the respective projects have witnessed notable slump. This shows the prevailing uncertainty across the crypto market. The plunging TVLs of the above-mentioned projects raise concerns about their near-term trajectory. Ethereum Dominates Top Ten…
HyperLiquid, a blockchain and derivatives exchange that incentivized early adoption with a large airdrop, is in the news this week for a degenerate example of crypto trading. Rektober, a crypto influencer with 83,000 followers, took just two weeks to lose more than $1 million belonging to people who thought it would be a good idea to tag along in a copy-trading fund. HyperLiquid platformed the losing strategy with its flagship offering, Vaults. On HyperLiquid, influencers can create “vaults” that are basically miniature hedge funds. Although HyperLiquid is careful to prohibit US users and avoid language describing these vaults as though…