Day: November 27, 2023

OKX launches crypto exchange, wallet services in Brazil

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Cryptocurrency exchange and Web3 developer OKX announced the expansion of its services for users in the Brazilian market with a local crypto exchange and Web3 wallet platform.  On Nov. 27, the company said it is focusing on providing a gateway to decentralized finance (DeFi) and crypto trading with Brazilian real fiat-on ramp capabilities. Guilherme Sacamone, the general manager of OKX Brazil, said the Brazilian market has “enormous potential” to lead in crypto adoption and DeFi. “We know that Brazilians expect fast and liquid trading, along with a secure self-custody wallet solution,…

USTC Sees Over 285% Gains in 24 Hours, Here’s Why Stablecoin Is Surging

The recent price surges seen in both the USTC and LUNC, once again highlight the undying resolve and commitment of the Terra Classic community to bring value to both assets. Algorithmic stablecoin TerraClassicUSD (USTC) has received a massive boost in the last 24 hours, posting over 283% gains within the period. As of publication, CoinMarketCap data showed the USTC price standing at $0.6279, as it continues to make an impressive effort toward reclaiming its peg to the US dollar. Recall that the USTC stablecoin lost its dollar peg back in…

Record 94,000 Accounts And $32M In Staked Funds

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According to CryptoQuant’s data on November 4th, Ethereum (ETH) achieved a significant milestone. The aggregate amount of funds staked in the Ethereum 2.0 smart contract has experienced a notable surge, reaching a commendable sum of $32 million. The current increase in value is indicative of a larger pattern in which investors are consistently and proactively investing in ETH, thereby propelling the Ethereum ecosystem to unprecedented levels of growth. In the broader context of the year 2023, Ethereum’s exceptional performance is clearly observable, as it has contributed a significant $74.5 billion…

Federal Reserve Likely to Cut Interest Rates the Most Among Central Banks Next Year, Research Shows

A weaker dollar often becomes a tailwind to risk assets, including bitcoin, as occurred in the second half of 2020 and early 2021. The greenback is a global reserve currency, playing an outsized role in global trade and non-bank borrowing. When the dollar strengthens, it causes financial tightening worldwide, disincentivizing risk-taking. The opposite is true when it weakens. Source

Standard Chartered Bank Maintains Bullish Stance, Predicts Bitcoin Could Reach $120K by 2024

Bitcoin has seen a positive trend over the past few weeks after dropping to a new all-time low last year due to the crypto winter that wiped billions of dollars from the industry. Standard Chartered Bank is doubling down on its Bitcoin (BTC) predictions, suggesting that the leading crypto asset has the potential to soar to $120,000 by the end of 2024. After months of predicting that the crypto asset could reach $100,000 by the end of this year and $120,000 in 2024, the company’s analyst, Geoff Kendrick, said the…

Web3 edu-tech startup Open Campus raises $3.15m from Binance, EDU jumps 6%

Crypto educational startup Open Campus has raised over $3 million from Binance Labs to double down on NFTs. Open Campus (EDU), a cryptocurrency-focused educational startup, has raised $3.15 million from Binance‘s venture arm Binance Labs. According to an announcement on Monday, Nov. 27, 2023, the funding is expected to help the startup onboard new users onto Web3 and “attract more native users to participate in education through the launch of novel Publisher NFTs.” After the news broke, the project’s native token jumped by more than 6%, reaching in a moment…

$750M in locked crypto tokens to be released by December

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Around $750 million of vested digital assets are scheduled to be unlocked and released into the markets in December. Among the projects releasing locked tokens, the decentralized exchange dYdX will unlock the largest amount. The exchange is expected to unlock 150 million tokens vested for investors, founders and employees in December. The tokens are worth almost $500 million at current market prices. Initially, the tokens issued by dYdX were supposed to be released in February. However, the exchange announced in January that the lock-up would be extended. Instead of their…

TRON Appears at Center of Militant Financing in Israel-Hamas War

Israeli security agencies note that the Tron network has become the preferred platform for crypto transfers by militant groups linked to Palestine, Hamas, etc. In Israel’s ongoing battle against the financing of Iran-backed militant groups such as Hamas and Hezbollah, a previously less scrutinized crypto network Tron has emerged as a significant player. Surpassing Bitcoin in terms of transaction speed and cost-effectiveness, the Tron network has become the preferred platform for crypto transfers associated with organizations designated as terror groups by Israel, the United States, and other nations. Interviews with…

Banks Get Closer after Ripple-Metaco Deal, XRP Community Excited

Metaco CEO Adrien Treccani agrees that adopting Ripple and Metaco’s solutions increases the chances of adopting XRPL as a protocol. The XRP community is excited at the increased growth prospects of the XRP blockchain since the RIpple-Metaco deal was sealed.  Recall that Ripple announced a $250 million acquisition of Swiss crypto custody platform Metaco to broaden its remittance network and aid its expansion into institutional crypto custody. Since then, several banks and traditional financial institutions have opted for the platform’s services. Earlier in November, Ripple announced its partnership with banking…