81 Binance Wallets Withdraw $31 Million In LINK, What This Mean

Recently, Binance, one of the world’s leading crypto exchanges, witnessed an unusual pattern of withdrawals. Particularly, 4.7 million LINK tokens, equivalent to roughly $31.58 million, were suddenly withdrawn over a brief period by 81 newly minted wallets.  The event is noteworthy due to the large number of tokens moved and the swift, simultaneous action across newly created accounts. This pattern of withdrawals raises questions about the strategies and intentions behind these movements and what they could spell for the token, LINK. A Timeline Of The Puzzling LINK Withdrawals On September…

Crypto Mining Giant Bitmain to Invest $53.9 Million in Core Scientific

Bitmain’s investment represents not only a significant financial commitment but also a strategic move to fortify its partnership with Core Scientific. Bitmain, a leading manufacturer of crypto mining rigs, has announced a substantial investment of $53.9 million in Core Scientific, a major North American blockchain data center provider and digital asset miner since 2017. Core Scientific operates data centers in multiple US states and utilizes their Minder software for efficient mining management and monitoring. This partnership signifies an expansion of their already-established relationship and supply contract. Both companies have agreed…

Ethereum Whales Unfazed By Prices, Pulls $8.1 Million Of ETH From Binance And Buys NFTs

Ethereum is under pressure and has just dropped below $1,600. However, on-chain data shows that a crypto whale, “0xb154”, has moved more coins from Binance, a cryptocurrency exchange, to a non-custodial wallet. On September 21, the ETH whale transferred over $8.1 million of the coin.  ETH whale moves funds to Binance| Source: Scopescan Whale Moves More Ethereum From Binance, Buying NFTs When crypto prices contract, outflows from non-custodial wallets to centralized ramps, including Binance and Coinbase, tend to rise. This is because centralized exchanges supporting stablecoins or fiat, including the Euro…

Optimism To Sell 116 Million OP Tokens Via Private Sale:

Optimism has revealed its plans to sell 116 million OP tokens to seven private buyers. According to the update, this sale is for treasury management tokens.  Based on current prices, this sale will transfer approximately $159 million worth of OP tokens to the buyers. Given the sheer amount of the sale, some traders believe it will likely cause a decline in OP’s price. Optimism Announces Sale OF 116 Million OP Tokens Following Third Airdrop Event  In detail, Optimism posted a community update on September 20 on selling approximately 116 million…

ICO issues half a million pounds in new fines as fight to tackle illegal nuisance calls continues

The Information Commissioner’s Office (ICO) has issued fines totalling £590,000 to five companies for collectively making 1.9 million unwanted marketing calls which targeted the elderly and people with vulnerabilities. This latest action is part of a wider crackdown to tackle rogue companies using pressurised sales techniques to sell insurance for white goods, such as washing machines and fridges, and other household appliances, including TVs. £1.45 million in fines have now been issued by the ICO since October 2021 to 16 companies for making illegal, unwanted marketing calls, many to people…

Bearish Signal? Bitcoin Whale Wakes Up From 6-Year Slumber And Transfers $56 Million

Movement of dormant Bitcoin addresses has been sporadic this year, with most causing a stir and rising interest amongst the Bitcoin community. In the latest record of whale transactions this year, on-chain data has shown that a set of dormant Bitcoin from 2017 has moved for the first time in six years.  Peckshield, a blockchain security and data analytics firm, revealed in a tweet that the previously inactive address, which held 2,100 BTC has just become active, with its assets now transferred to a different address.  Whale Wakes Up From…

Ripple Stirs Debate By Shuffling $260 Million In XRP: Why?

Ripple Labs has once again become the focus of much scrutiny and debate within the XRP community. Recent data points to a series of high-volume XRP transactions totaling 506 million tokens, valued at approximately $260 million, carried out over the span of 19 days. What makes these transactions especially noteworthy is not just their sheer volume but also the repetitive nature and targeted destinations. Ripple Transaction Breakdown Between the end of August and mid-September, a total of 15 significant XRP transactions were initiated by two Ripple-controlled addresses. These transfers were…

Hodlnaut Refuses OPNX’s $30 Million Offer After FLEX Token Declines By 90%

According to the latest report, the interim judicial managers of beleaguered crypto lender Hodlnaut have rejected the latest acquisition bid proposed by OPNX. The OPNX exchange, affiliated with the founders of collapsed hedge fund Three Arrows Capital (3AC), offered to buy a significant 75% ownership stake in troubled Hodlnaut in August 2023. Holdnaut, a Singapore-based crypto lender, was another of the numerous victims of the financial crisis that rocked the crypto space in 2022. The crypto company had to halt withdrawals after losing around $190 million to the Terra ecosystem’s…