The bank’s Hong Kong unit can now deal in and distribute securities, including virtual assets-related products. Source
Swiss Crypto Bank SEBA Wins Hong Kong License
Day: November 8, 2023
How decentralized platforms democratize crypto funding initiatives
While the prevailing traditional financing models resulted in the crypto and blockchain sector raising billions of dollars over the years, they are not without weaknesses, according to Project Catalyst’s group product manager. At the recent Cardano Summit in Dubai, Kriss Baird, the principal figure of Project Catalyst — a community-driven governance and grants and funds mechanism through voting within the Cardano ecosystem — spoke with Cointelegraph about the initiative, the extent of the collective’s involvement in shared resources and the direction of the platform’s development. Speaking about the opportunities and…
The Graph (GRT) records spike in $100k+ transactions
The Graph observes several large transactions worth at least $100,000, leading to a nine-month high in overall whale activity as social volume sees a massive upswing. Notably, on Nov. 6, GRT recorded an intraday figure of 149 transactions worth $100,000 and above for the first time in months, according to Santiment. In addition, on-chain data confirms that market participants created up to 620 new addresses. These favorable metrics have come up when GRT leverages market-wide bullish sentiments to engineer a rally. Despite a 5.9% decline over the last 24 hours,…
Cardano Whales Go On $600 Million Buying Spree That Could Trigger Run To $0.4
Cardano (ADA) is one of the tokens currently in the limelight as many projects do well in the ‘Atcoin Season’ as Bitcoin’s dominance cools off. The token has rallied in recent days, and one of the reasons for this resurgence has been revealed. Cardano Whales Are Accumulating In a post on their X (formerly Twitter) platform, blockchain analytics platform IntoTheBlock noted that investors’ confidence in the Cardano token grew in October as ADA whales and investors accumulated 1.89 billion ADA during that period. This translates to over $600 million invested…
New Cryptocurrencies Getting Created at Slowest Pace in 3 Years, CertiK Data Shows
Excluding memecoins, some 293 new tokens were added to the CoinMarketCap website, less than a fourth what was added during the bull market of late 2021, according to new data compiled by the smart-contract auditor CertiK. Source
Where Is Bitcoin Price Headed as BTC $1K+ Wallet and Long-Term Holders Reach New All-Time High?
Given BTC price’s continuous rejection of the $35k zone, it is possible that we may witness Bitcoin correction to $31k. The price of Bitcoin has broken through the $35k resistance for the third time since the start of November. It shattered the long-term consolidation range between $25k and $31k on October 22. Although the price has been on the rise since then, the overall signals have been mixed, with some analysts expecting retracements and others anticipating a continued upward trend. When BTC experienced the breakout from the $25k to $31k…
Ripple Partners Onafriq to Expand Cross-Border Payments between Africa, Gulf States, UK, Australia
Commenting on the partnership with Ripple, Dare Okoudjou, founder & CEO at Onafriq, said the deal is the first step towards the implementation of the company’s crypto strategy. The leading blockchain payment company Ripple has secured a partnership with Onafriq, one of the top mobile payments companies in Africa, to expand the capabilities of its remittance services and foster smoother cross-border transactions within 27 countries in the region. The collaboration between Ripple and Onafriq is expected to streamline cross-border transactions, providing a faster, more efficient, and cost-effective solution for international money…
BIS general manager urges central banks to “lead innovation” for CBDCs
Central banks have a responsibility to keep pace with the digital age and lead innovation, Agustín Carstens, general manager of the Bank for International Settlements (BIS), believes. In his opening remarks at a conference in Basel, Switzerland, on Nov. 8, Carstens called central bank digital currencies (CBDCs) the “central element” of this leadership, elaborating on the potential threats and challenges to implementing them. One particular challenge is the variety of technological infrastructures different countries intend to develop for their CBDC projects. Carstens also mentioned cyber risks and new possibilities for…
Unveiling The Force Behind Renewed Interest
Binance Coin (BNB) has experienced a notable resurgence in the last few weeks, sparking a renewed interest in the cryptocurrency market. With its versatile applications and growing popularity, BNB has captured the attention of influential investors, leading to a surge in on-chain activities that have stirred the digital asset community. The latest developments surrounding BNB reveal intriguing movements within the crypto space, particularly with the recent actions of a prominent whale investor. Whale’s Strategic BNB Acquisition And Deployment According to a recent report shared by Lookonchain, a significant whale recently…
Robinhood’s Crypto Trading Revenue Drops by 55% in Q3 2023
Despite some setbacks, Robinhood remains committed to the crypto space. Investing app Robinhood saw its crypto trading revenue drop further in the third quarter of 2023. While the company’s net gains increased by 29% year-over-year to $467 million, its transaction-based income decreased. According to the quarterly report, the crypto trading revenue plummeted by 55% to $23 million. The loss continues a downward trend for crypto-based transactions on the app. Recall that there was a loss of 1% in Q1 of 2023 and a further drop of 18% in Q2. It…