Day: June 11, 2024

Iggy Azalea MOTHER Token Skyrockets 27% After Major Announcement

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Australian rapper Iggy Azalea and her cryptocurrency venture, the Mother Iggy (MOTHER) token, have garnered significant attention in the crypto industry due to its rapid popularity and a more than 140% spike in its first week of trading.  However, after its initial surge, the token experienced a substantial price correction, leading to a decline from its record price of $0.2490, reached on June 6. On Friday, the token retraced to as low as $0.1155 after reaching its record high. In a recent social media post on Sunday, Iggy Azalea revealed…

Sui Foundation Supports University Research on Blockchain Scalability, Privacy, and AI Tools

The Sui Foundation has announced the recipients of its fourth cohort of Sui Academic Research Awards, providing funding to 20 research teams from prestigious universities such as UC Berkeley, Yale, NYU, EPFL, and the National University of Singapore. This initiative aims to advance blockchain technology, smart contract programming, and products built on the Sui platform, according to The Sui Blog. Zero-Knowledge Proofs and AI-Based Tools Among the funded projects is Fan Zhang’s research at Yale University, which focuses on enhancing zero-knowledge proof (zk-proof) generation through…

Will This Trigger A Long-Awaited Price Explosion?

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In an unexpected turn of events, the Shiba Inu (SHIB) burn rate has witnessed an ‘astronomical’ increase, propelling the metric by over 68,000% within 24 hours. This surge, captured by Shibburn, a platform dedicated to tracking SHIB token burns, has sparked significant attention within the cryptocurrency community. Related Reading Unprecedented Surge In Shiba Inu Burns – Details Shibburn’s latest data highlights a massive spike in SHIB burns, initiated by a collective effort from the Shiba Inu community. Over the past day, seven wallet addresses contributed to a burn of 7.6…

FTC Warns of Crypto Scams From Online Love Interests

The U.S. Federal Trade Commission (FTC) has issued a warning about cryptocurrency romance scammers who offer investment advice. The FTC emphasizes the risks involved and urges immediate reporting and caution to protect others. “They establish an emotional connection with you so you’re more likely to believe that they’re an expert in cryptocurrency investing, for example,” […] Source CryptoX Portal

Protocol Village: Wormhole Opens W Staking

June 10: Wormhole, the blockchain interoperability protocol, will allow holders of its W token to stake with the Tally Governance Portal, “allowing the opportunity to participate in governance and influence the future direction of the Wormhole DAO and platform,” according to the team.” The update marks “a significant step toward decentralizing Wormhole through MultiGov, an industry-first multichain governance system for DAOs on Solana, Ethereum mainnet, and EVM L2s,” Wormhole said in a statement. “The Wormhole DAO will be the first to adopt MultiGov, enabling W holders to create, vote on,…

Strong Resistance Might Block Recovery

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On-chain data suggests Litecoin potentially has a major amount of resistance waiting just ahead, making a recovery more difficult for LTC’s price. Litecoin Has A Large Supply Wall Waiting At Levels Just Ahead As pointed out by X user Trader Kamikaze using data from the market intelligence platform IntoTheBlock, a large amount of LTC investors bought at levels that are coming ahead. Related Reading Below is the IntoTheBlock chart that shows the distribution of LTC addresses based on the price at which they last bought their coins on the network.…

Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here’s When

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Crypto analyst Chad Steingraber has made an ultra-bullish price prediction for the XRP price, stating that the crypto token’s price could rise to three figures. The analyst also outlined when this price target will be attained.  XRP Will Hit $250 In This Market Cycle Steingraber mentioned in an X (formerly Twitter) post that XRP will reach $250 by 2025, which he believes will represent the market top for the crypto token in this bull run. He made this prediction while stating that Bitcoin and Ethereum will hit $250,000 and $25,000…

South Korean Regulator Excludes Certain NFTs From Crypto Regulations

South Korea’s top financial regulator has issued guidelines clarifying when non-fungible tokens (NFTs) are considered virtual assets. This distinction aims to minimize the risk of widespread user harm. The guidelines will be part of the Virtual Asset User Protection Act, effective July 19, 2024. FSC Issues New NFT Classification Guidelines On Monday, South Korea’s top […] Source CryptoX Portal

Whale Deposits $21M In DeFi Tokens To Binance, Is It Justin Sun?

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In the early hours of Monday, a dormant whale moved $21 million worth of 4 DeFi tokens to the crypto exchange Binance. The news received mixed reactions from the community, which worries about an incoming dump amid the recent retrace of the crypto market. Related Reading Whale Deposits $21 Million In DeFi Tokens To Binance On Monday, on-chain analytic firm Spotonchain reported a dormant whale had deposited around $13 million in crypto to Binance. After a year of holding, The whale sent 3,800 Maker (MKR) and 20,000 Aave (AAVE) to…

Modi Reappoints Nirmala Sitharaman as India’s Finance Minister — Investors Remain Concerned Over High Crypto Taxes

Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister. She remains instrumental in shaping India’s economic policies, including cryptocurrency regulation and taxation. Nirmala Sitharaman Reappointed as Finance Minister Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister, extending her tenure that began in 2019. Sitharaman, who delivered her sixth […] Source CryptoX Portal