Day: February 26, 2024

Hong Kong-based Crypto Exchange BitForex Halts Withdrawals After $56 Million Leaves Wallets: Report

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A top Hong Kong-based crypto exchange has halted withdrawals on its platform after over $56 million was taken out of its wallets last week. According to on-chain investigator ZachXBT, BitForex engaged in some “suspicious activity” last week. “Seeing some suspicious activity with the crypto exchange BitForex. On Feb 23 their hot wallets saw outflows of ~$56.5M. Shortly after this time withdrawals stopped processing with no official announcements having been made since.” According to ZachXBT, BitForex users are not having their inquiries answered by officials on BitForex’s X and Telegram. Furthermore,…

OG Ethereum ERC-404 Token PANDORA Is Rallying Again, What’s Behind It?

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PANDORA, the first token to use the Ethereum ERC-404 token standard, is on the move after slowing down for a few weeks. The token’s price saw a significant surge over the weekend, rising around 50% to clear $24,000 once more. This recovery was triggered by a number of factors, so here they are. Whales Set Their Sights On PANDORA The most obvious reason behind the price push recorded for PANDORA over the weekend can be traced back to significant whale activity. On-chain data tracking website Lookonchain, flagged a number of…

Lido Staked Ether takes over XRP in market cap as Ethereum reached $3.2k

Lido Staked Ether has surpassed XRP to become the sixth-largest cryptocurrency, with a market cap of over $31 billion.  Lido Staked Ether’s (stETH) bullish market is largely attributed to Ethereum’s significant gains this month, as the second-largest cryptocurrency reached $3,200 today and a 40% surge for the token in February alone.  Dune analytics data shows that Ether deposits on Lido are nearing 10 million ETH, as the protocol hasn’t seen any net outflows since Dec. 19th. Currently, Lido Staked Ether accounts for 35% of all EH deposits on EigenLayer, one…

The Blockchain Industry Must Build for the Real Needs of Real People

Products must be undeniably useful to be adopted by people in these environments. That’s why I currently lead the development of the Stellar Disbursement Platform, the bulk payments product that powers humanitarian cash assistance, cross-border payroll, government social programs and paying unbanked gig-workers and creators. That’s also why I previously built Boss Money, a digital wallet for refugees and migrants in Africa. Source link

Will Worldcoin End In “Tears”? This Analyst Thinks So

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One analyst on X is concerned about the long-term sustainability of Worldcoin (WLD), a project aiming to build a universal digital identity system. While acknowledging the project’s innovative approach and recent upswing that has seen WLD more than 4X, the analyst thinks “Worldcoin will end in tears.” FDV Versus Market Cap Soars Doubt: A Massive Price Dump Incoming? In a post, the analyst points to a significant discrepancy between Worldcoin’s fully diluted valuation (FDV) of $82.1 billion and its current market capitalization of around $1.1 billion, as seen from CoinMarketCap. To compare, Ethereum (ETH),…

5 Things Satoshi Nakamoto Correctly Predicted About Bitcoin

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Proof-of-work, the algorithm backing Bitcoin, is a fundamentally wasteful process by design. Even back in the days of Satoshi, people realized that, if Bitcoin were to become successful, the hashpower directed towards securing the network would be massive. Satoshi anticipated this debate and responded to critics, writing, “ironic if we end up having to choose between economic liberty and conservation.” Original

Seeking Yield on $37M Ethereum (ETH) Treasury, JPEG’d DAO Mulls Airdrop Farming

So-called PIP-85 could see JPEG’d DAO utilize nearly $19 million worth of ETH tokens on EigenLayer and Blast, two of the most popular spots for airdrop hunters in the Ethereum ecosystem right now. Both protocols are expected to reward their users with potentially valuable tokens in the future. That expectation has prompted billions of dollars of crypto capital – much of which is from airdrop farmers – to flow into their protocols. Source

Crypto Analyst Says New Peak Is Within Arms’ Reach

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With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge. New All-Time High For Bitcoin Is Within An Arms Reach In a recent development on the social media platform X (formerly Twitter), Cryptocurrency analyst and investor, Crypto Jelle, has shared a bold prediction regarding Bitcoin – the leading crypto asset. The crypto expert’s analysis came in light of the bearish speculations within the community…