Month: February 2024

USDT Leads $400 Million Inflows

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The cryptocurrency industry has witnessed a significant change in the movement of stablecoins, offering valuable observations into the evolving dynamics of the market. Recent data from IntoTheBlock and CryptoQuant has shown a surge in stablecoin inflows into exchanges, reaching record highs in January. Notable inflows were observed on January 2nd ($478 million), January 3rd ($489 million), and January 26th ($673 million). However, this trend has since reversed, with outflows dominating the market. On January 30th, there was a substantial outflow of $412 million, marking the second-highest daily outflow recorded in…

Binance launches marketplace focused on Ordinals protocol

Cryptocurrency exchange Binance has introduced a marketplace focused exclusively on the inscriptions of the Ordinals protocol. According to the exchange announcement, the new platform will allow the sale, purchase, and mining of BRC-20 standard tokens and other EVM-compatible assets. The marketplace for inscriptions is hosted on Binance’s web3 wallet, accessible through the platform’s app. According to the developers, the new product’s features include buying, selling, and mining BRC-20 tokens and other EVM coins, seamless transfers between the Binance platform and its crypto wallet, and increased transaction speeds. Notably, despite the…

Crypto Startup Velar Plans Perpetual Swaps Exchange for Bitcoin DeFi After Raising $3.5M

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Celsius’ Bitcoin (BTC) Mining Assets to Restart Under Ionic as the New Unit Prepares to Go Public

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Celsius Follows FTX As It Begins Repaying Crypto To Creditors, Here’s How Much

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Bankrupt cryptocurrency lending company Celsius Network has followed behind FTX, revealing plans to disburse billions of dollars in crypto to creditors and establish a new Bitcoin mining company for its creditors.  Celsius To Distribute $3 Billion In Crypto To Creditors In a press release published on Wednesday, Celsius Network announced its successful emergence from bankruptcy. The company is now set to implement its “plan of reorganization,” which involves distributing over $3 billion in crypto assets and fiat currency to its creditors.  The crypto lending company claimed that the reorganization plan…

Bitcoin Regains $42K Following Wednesday’s Dip

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Bitcoin traded just above $42,000 in the European morning after Fed Chair Jerome Powell cooled hopes of an interest-rate cut in March yesterday. “The message from the Fed last night is that a March cut is not the base case, and they need to gain greater confidence that inflation will remain at these levels before moving,” said Nick Chatters, a fixed income investment manager at Aegon Asset Management. “Having said that, confidence is building, and Chair Powell was open in communicating that a cut will come this year. No surprise…