Day: January 30, 2024

Shiba Inu Burn Rate Surges Over 1,400%, As Price Recovers

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Shiba Inu, an Ethereum-based meme coin, is presently in the limelight as its burn initiative has witnessed a significant surge in its token burn rate in the past day, suggesting increased engagement from the community. Shiba Inu Daily Burn Rate Skyrockets Data from Shibburn reveals that the last 24 hours have seen a notable spike in the Shiba Inu burn rate. The tracker reported that the burn rate has recorded a massive 1,411% increase today, January 30. According to the platform, over 61 million SHIB tokens have been incinerated in…

Magic Eden debuts ‘Emmy’, a multi-chain wallet for streamlined NFT trading

NFT marketplace Magic Eden has launched its web3 wallet Emmy, featuring multichain compatibility for improved utility. The new wallet broadens the scope of compatibility, functioning seamlessly with Solana, Bitcoin, Polygon, and Ethereum, and is tailored specifically for users active in the NFT marketplace and those engaged in cross-chain collecting. In its official announcement on Jan. 29, Magic Eden conveyed its enthusiasm about the wallet’s public release, underscoring its potential to transform the NFT industry for both collectors and traders. The need for a “singular, unified wallet,” as identified by Magic…

Why Is Bitcoin Price Up Above $43,000 Today?

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Bitcoin is back above $43,000 just days after making a swift recovery from below $40,000 to $42,000. This trend reversal is believed to be due to a number of recent developments that have painted a bullish narrative for the flagship crypto token.  The Grayscale Effect Is Wearing Off Bloomberg analyst James Seyffart recently highlighted how BlackRock’s Spot Bitcoin ETF, IBIT, went toe-to-toe with Grayscale’s GBTC on Day 12 of trading in terms of trading volume. This happened to be the closest that IBIT or any Spot Bitcoin ETF had come…

Blockchain Newcomer Reaches $443 Million TVL, Enters Top 10

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In a stunning comeback, the price of Sui token has soared to new heights, painting an impressive picture in the cryptocurrency market. Reaching an impressive $1.61 on the back of a solid 50% weekly rally on Tuesday – its highest point since May 3rd of the previous year – Sui has proven to be one of the standout performers of 2024. With an astronomical surge of over 328% from its lowest level in 2023, Sui has solidified its position as one of the most successful cryptocurrencies of the year. SUI…

Invesco Galaxy reduced spot Bitcoin ETF commission amid competition pressure

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Invesco and Galaxy Digital have announced fee reductions for their spot Bitcoin (BTC) ETF (BTCO). According to filings with the U.S. Securities and Exchange Commission, the fee is reduced by 14 basis points, from 0.39% to 0.25%. Invesco and Galaxy Digital note that their product exempts clients from commissions for the first six months on assets of up to $5 billion. At the same time, the companies retain the right to extend preferential conditions for investors. The updated rate will improve the position of the Invesco and Galaxy Digital cryptocurrency…

XRP is under pressure, whales exploring Celestia and NuggetRush

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ripple’s victory against the U.S. SEC will boost XRP Whales exploring Celestia and NuggetRush NUGX may rally after launch XRP has been underperforming despite the approval of the spot Bitcoin ETF. Meanwhile, whales are interested in Celestia (TIA) and NuggetRush (NUGX). Exploring NuggetRush  NuggetRush is a new meme coin whose presale is in progress. At the current presale stage, NUGX is available for $0.018.  The platform combines memetic elements like…