The 1 million transactions milestone for one day was achieved after some government-owned and private sector banks deposited the salaries and benefits of their employees into their CBDC wallets last month, according to Reuters. The report named HDFC Bank, Kotak Mahindra Bank, Axis Bank, Canara Bank and IDFC First Bank. Source
Adding to the woes of the cryptocurrency market, Dogecoin, the prominent memecoin with the highest market value, has experienced a notable setback with a over 10% drop in its price over the last 24 hours. This downturn follows a trend of significant declines witnessed by the dog-themed altcoin in the previous week. The current trajectory of DOGE’s price decline raises concerns among investors and market observers, as it points to potential challenges and uncertainties surrounding the memecoin’s stability. Whale Moves: Dogecoin Uncertainty Peaks Compounding this situation is the recent activity…
Data shows the cryptocurrency futures sector has gone through a mass liquidation event in the past 24 hours as Bitcoin has witnessed a sharp crash. Crypto Futures Liquidations Have Added Up To $659 Million In Past Day The cryptocurrency market has seen sharp price action during the past 24 hours. As is usually the case during such volatility, chaos has occurred on the futures side of the sector. According to data from CoinGlass, almost $660 million in futures contracts have found liquidation on the last day. The data for the…
In a startling revelation by Scam Sniffer, the cryptocurrency world has been hit hard by a series of sophisticated phishing scams in 2023. The team behind the crypto security tool has reported that Wallet Drainers, a type of malware, have successfully siphoned off nearly $295 million from approximately 324,000 unsuspecting victims in the space. These malicious software programs, predominantly found on phishing websites, trick users into authorizing harmful transactions, leading to significant asset theft from their crypto wallets. ETH’s price trends to the upside on the daily chart but with…
The competition among the Spot Bitcoin ETF issuers is heating up as the period for potential approval of these funds draws nearer. Asset manager Bitwise is the issuer currently making waves as it could potentially outrank the world’s largest asset manager, BlackRock, in terms of seed funds for their respective ETFs. Bitwise’s Bitcoin ETF Could See $200 Million Seed Fund Bitwise’s latest amendment to its S-1 filing with the Securities and Exchange Commission (SEC) shows that the asset manager has gotten interest from an investor to have its ETF seeded…
XRP whales are on the move again, as on-chain data reveals that the crypto asset has witnessed a massive whale activity in the past day, which has led investors and the crypto community to ponder on the reasons behind these large transactions. Whale Transfers 47 million XRP To Cryptocurrency Exchanges A report has shown that a whale has shifted approximately 47 million XRP tokens to crypto exchanges. Data from the on-chain tracker Whale Alert revealed the funds were moved to centralized exchanges (CEXs) in two distinct transfers. The two whale transactions…
In its recently released 2023 review report, Binance, the world’s leading cryptocurrency exchange, showcased significant growth despite facing legal disputes and regulatory scrutiny. The report highlighted the evolving crypto market, increasing institutional interest, and the company’s commitment to compliance and user experience. Binance’s 2023 Review Despite a volatile year for the market, Binance emphasized that digital asset regulation had taken a direction toward greater clarity and harmonization in some regions. The exchange acknowledged the challenges but noted that Web3 adoption and institutional interest continued to grow steadily, demonstrating the industry’s…
Amidst PancakeSwap’s proposal to burn 300 million CAKE and reduce the total supply from 750 million to 450 million CAKE, on-chain data indicates that a whale has been moving a significant amount of CAKE, the decentralized exchange’s governance token. Whale Is Moving Tokens As Key PancakeSwap Voting Event Proceeds According to a report from Scopescan, a blockchain analytics platform, a whale has moved approximately 1.7 million CAKE worth $1.3 million in the past week from Binance, Gate.io, and Bitget to a series of crypto addresses. The timing of this transfer is…
In a strategic move that has effectively caught the attention of the crypto space, Microstrategy has once more fortified its Bitcoin portfolio, strengthening its position as the largest corporate holder of BTC globally. MicroStrategy Boost BTC Holdings In a recent filing on December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, Microstrategy has increased its Bitcoin holdings by 14,620 BTC valued approximately at $615.7 million. “On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between November 30, 2023, and December…
“With a current circulating supply of 388 million CAKE, the team believes this new and lower cap will be sufficient to gain market share across all chains and sustain the veCAKE model,” Chef Mochi, head of PancakeSwap, said in a Telegram message. Source