Whales Transfer $58M To Exchanges Following Unlock, ARB Price Reacts

On Saturday, March 16, the Layer 2 protocol Arbitrum (ARB) unlocked 1.1 billion ARB tokens as part of its 2024 roadmap. This event led to a significant decline in the native token’s value, with losses of up to 18% reported over the past week.  In the past 24 hours, more whales have been sending ARB tokens to exchanges for selling, indicating a potential further drop in the protocol’s prices. This token unlocking marks the beginning of a four-year phased process, releasing a specific number of tokens every four weeks until…

Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country

The Nigerian Securities Regulator has proposed a rule requiring virtual asset service providers to be incorporated and maintain an office within Nigeria. The regulator has also suggested a fivefold increase in the registration fee, which must be submitted alongside license applications from prospective crypto exchanges. Proposed Regulations to Foreign Operators Targeting Nigerian Users According to […] Source

South Africa to license 60 crypto exchanges in regulatory milestone

South Africa is set to become one of the first countries in Africa to mandate licenses for crypto exchanges.  Approximately 60 digital asset platforms are expected to receive their permits by the end of this month, ensuring they operate within regulatory guidelines. In an interview with Bloomberg, the Commission of the Financial Sector Conduct Authority (FSCA) revealed this today.  FSCA has issued a deadline of November 30 for exchanges to submit their licensing applications. Failure to comply could result in regulatory sanctions. The call for applications saw over 300 crypto-asset…

OKX Joins Growing List of Exchanges with Singapore’s License

The crypto exchange OKX has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license through its local subsidiary, OKX SG. This new authorization allows OKX to provide digital payment token services and cross-border transfers in Singapore, pending the full license from MAS. With the in-principle approval, OKX plans to focus on its spot product in Singapore and work on establishing local banking connections for its customers. As an MPI-licensed company, OKX will be able to facilitate multiple payment services exceeding the volume…

Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee

Top executives from Binance have been summoned to appear before the Nigerian House of Representatives Financial Crimes Committee no later than March 4. Ginger Onwusibe, the committee’s chairperson, has warned of possible repercussions should Binance executives fail to comply with the request. Latest Escalation in the Standoff Between Binance and Nigerian Authorities The Nigerian House […] Source

$906M Worth Of Ethereum Leave Exchanges Last Week

Exchange data has revealed continued bullish sentiment from Ethereum traders. According to IntoTheBlock, $906 million worth of Ethereum was withdrawn from crypto exchanges last week, indicating a holding mentality among investors. This massive exodus of ETH from exchanges could indicate that traders are anticipating higher prices and moving their holdings into private wallets for long-term storage. The holding attitude has emerged amid a wider spike in the price of cryptocurrencies throughout the market and numerous demands for Ethereum to cross over $4,000 and beyond. Ethereum Sees Massive Exodus From Exchanges…

Whales Withdraw $64 Million ETH From Exchanges, Bullish Signal?

According to data from Lookonchain, an on-chain analytics platform, Ethereum (ETH), whales have withdrawn roughly $64.2 million worth of ETH from major exchanges. This significant movement of funds coincides with a notable uptick in the price of ETH, indicating an increasing interest in the asset. Ethereum Whales Movement Signals Confidence According to Lookonchain’s findings, much of the ETH supply has been shifted from exchange wallets to custodial wallets. The on-chain analytics platform reported that an Ethereum address labeled 0x8B94 had withdrawn an amount of 14,632 ETH, valued at approximately $45.5…

Bitcoin (BTC) Witnesses Largest Weekly Net Outflow off Centralized Exchanges in Eight Months: IntoTheBlock

Bitcoin (BTC) flew off centralized exchanges this week at its highest level since June 2023, according to the crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, IntoTheBlock’s head of research, tracked the top crypto asset’s netflows, which measure the Bitcoin moving in and out of centralized crypto exchanges by subtracting the amount of BTC’s withdrawals from its deposits. Outumuro notes that $540 million worth of Bitcoin netflows left centralized crypto exchanges this week, the largest weekly net outflow total in eight months. IntoTheBlock interprets the movement of BTC…

800,000 ETH Flow Out Of Centralized Exchanges In 2024

The price of Ethereum has been a joy to watch since the start of 2024, climbing by more than 30% in less than two months. The latest on-chain revelation suggests that ETH investors are approaching the market with more confidence, as the cryptocurrency’s price rally seems to be far from over. $2.4 Billion Worth Of ETH Leaves Exchanges: CryptoQuant A pseudonymous analyst on CryptoQuant’s Quicktake revealed that significant amounts of the Ethereum token have been making their way out of exchanges in the last few weeks. This observation is based…

Argentina to Regulate Cryptocurrency Exchanges With Executive Order

The government of Argentina is reportedly preparing to regulate cryptocurrency service providers with an executive order. The measure would be directed to keep Argentina out of the Financial Action Task Force (FATF) gray list, putting crypto service lenders under the oversight of the local securities watchdog. Argentina Reportedly Set to Regulate Cryptocurrency Service Providers by […] Source CryptoX Portal