Author: NBTC
The Sui Network (SUI) will unlock over $200 million in tokens this Sunday, December 1, as part of its schedule. This will be Sui’s largest cliff unlock (in nominal value) to date, creating significant supply inflation and dilution, affecting investors. Every month, on day one, Sui unlocks 64.19 million tokens from vested contracts, distributed to five pre-defined categories. Finbold gathered data from Tokenomist on November 27, looking at details for the previous and upcoming events. Private Series A and B investors receive the most, getting over 19 million SUI each, for 61% of the total. Mysten Labs gets the remaining…
The U.S. Securities and Exchange Commission has formally filed an appeal in its legal battle with Ripple Labs, challenging a July 2023 ruling that partially dismissed claims against the company. Filed late Wednesday, the appeal focuses on whether Ripple’s XRP sales to retail investors qualify as unregistered securities transactions under federal law. Citing the Howey Test, the SEC argues that Ripple’s promotional efforts created an expectation of profits among investors, making XRP an investment contract. Ripple and the SEC did not immediately respond to Decrypt’s request for comment. While the regulator already filed its appeal in mid-October 2024, following the…
Operators of the world’s largest bitcoin (BTC) mining pools are quietly discussing a problem with BTC payouts. Despite mining BTC, securing BTC, and earning 100% of their revenue in BTC, pool operators are occasionally finding the currency itself to be cumbersome for paying their own workers. Although all major BTC mining pools pay for work in BTC currently, a few are warming up to the idea of an altcoin as a superior payment method. For months, developers and pool managers have engaged in deep discussions on technical forums like Delving Bitcoin around electronic cash (“ecash”) token alternatives to mining pool…
Ethereum (ETH) recently faced a correction that prevented it from breaching the $3,711 barrier, pulling the altcoin king below $3,200. This 15% decline has triggered reduced activity among ETH investors, a positive sign that could support Ethereum’s recovery. Ethereum Investors To Hold Back On Selling Observing Ethereum’s active addresses by profitability indicates that the concentration of investors in profit has dropped significantly, from 33% to 14%. This decrease is encouraging, as holders in profit are typically more prone to selling, which can pressure the price. When the concentration of profitable investors falls below 25%, the impact of profit-booking on Ethereum’s…
GOAT Network, a Bitcoin layer-2 scaling project, announced on Wednesday that users will soon be able to stake Dogecoin (DOGE) to support the security of its upcoming network, offering crypto rewards in return. Users will be able to accrue rewards in the form of Bitcoin, which is used to pay transaction fees on GOAT Network, as well as GOAT Network’s planned token, the project’s Core Contributor and Metis co-founder Kevin Liu told Decrypt in an interview. “To secure the network, we need some tokens to be staked,” Liu said. “Bitcoin is a natural selection, but our model supports multiple assets.”…
The SEC has filed an opening brief in its appeal to the US Court of Appeals for the 2nd Circuit, seeking to overturn a previous court decision that ruled XRP was not a security when sold to retail investors. The SEC aims to classify all XRP sales as unregistered securities offerings. Reacting to the news, Ripple CLO Stuart Alderoty took to X (formerly Twitter) and wrote, “As expected, the SEC’s appeal brief is a rehash of already failed arguments –and likely to be abandoned by the next administration. We’ll respond formally in due time. For now, know this: the SEC’s…
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is poised for massive upside momentum as it has formed a bullish price action pattern on the daily time frame. In the past few hours, sentiment across the cryptocurrency market has completely changed, with the price shifting from experiencing downside momentum to upside. Crypto Whale $5.92 Worth of ETH Purchase Before the opening bell of the United States market, ETH was witnessing a modest price decline, but this changed completely as the price moved from the $3,190 level to the $3,445 level in a matter of six hours. This massive upside…
A crypto trader incurred massive losses after betting on dogwifhat (WIF), a prominent meme coin on the Solana (SOL) blockchain. In less than 24 hours, sbfonchain.sol sold the coins for 4.08 million USDC, losing $654,000 on the position. Interestingly, the trader remained bullish on meme coins and, after closing their WIF position, immediately invested the remaining funds into other similar coins. The entity used 1 million USDC to buy 1.6 million CHILLGUY tokens, 500,000 USDC for 1.44 million Fartcoin, and 176K USDC for 2.6 million UBC. Meme Coin Market Overview The meme coin sector is worth approximately $121 billion, with…
Ripple CEO Brad Garlinghouse recently took to social media to slam SEC Chair Gary Gensler after the SEC filed its opening brief in the Ripple appeal case. “One definition of insanity….Doing the same thing over and over and expecting different results. Gensler’s SEC really took this to heart,” he quipped. In its opening brief, the SEC argues that the district erred in concluding that the XRP offers and sales conducted by the defendants failed to satisfy Howey’s expectation-of-profits requirement. Moreover, it erred in concluding that the offers and sales of the token in exchange for non-cash consideration failed to satisfy…
Bitcoin (BTC) has been soaring in the past few hours, topping a new all-time high (ATH) of $96,958. It is currently quoted at $96,572, up 4.67% in the past 24 hours. In response to this development, the probability of BTC reaching $95,000 in November has already surpassed 100%. The current market sentiment for Bitcoin aligns with Bitcoin Price Prediction trends, and it might even reach $98,582 by the end of 2024. The market cap for BTC has jumped by 4.74%, now standing at a staggering $1.91 trillion. The 24-hour market volume has increased by 6.08%, settling at $80.80 billion. Courtesy:…