Tag: Million

$204 Million Token Unlock Could Trigger Price Crash Today

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Token unlocks for cryptocurrencies such as AVAX are not new but that does not negate the kind of impact that these unlocks can have on the price. Depending on the size of the unlock, it could trigger a market crash as millions of new coins roll into circulation and are dumped on retail. This could certainly be the case for AVAX today given the size of the upcoming unlock. AVAX Unlock At $204 Million AVAX’s most recent unlock is about to see a total of 9.5 million tokens being brought…

KyberSwap DEX exploited for $46 million, TVL tanks 68%

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Around $46 million in various crypto assets has seemingly been drained from the decentralized KyberSwap exchange in the latest decentralized finance exploit. On Nov. 23, the Kyber Network team alerted its users stating in an X (Twitter) post that KyberSwap Elastic “has experienced a security incident.” It advised users to withdraw their funds as a precaution and added it was investigating the situation. Urgent Dear KyberSwap Elastic Users,We regret to inform you that KyberSwap Elastic has experienced a security incident. As a precautionary measure, we strongly advise all users to…

Ethereum L2 Blast Crosses $123 Million, Important Things To Know Before You Bridge In

Blast, a brand new Ethereum Layer 2 network, has drawn a startling amount of interest and security concerns due to a surge of investors using the network to bridge their assets.  Blast Hits $123 Million In TVL Blast recently announced its mainnet access on X (formerly Twitter). The L2 network built by Pacman Blur has gained a staggering amount of attention from crypto investors following the declaration. “Introducing Blast: The only Ethereum L2 with native yield for ETH and stablecoins. We’ve raised $20m from Paradigm and StandardCrypto to build the…

Did JPMorgan Secretly Buy 7.5 Million XRP? Here’s What We Know

The crypto rumor mills have been abuzz lately with talk of JPMorgan, a US megabank, secretly buying XRP tokens. This rumor has gained ground and in the course of its spread, has garnered the attention of the crypto community as they dissect it. JPMorgan Reportedly Buys 7.5 Million XRP The first reports of this rumor emerged after a news report citing a leaked report, claimed that the investment giant had actually bought 7.5 million XRP tokens. This rumor quickly made its way to social media where users on platforms such…

Solana Captures Institutional Investors’ Attention, Inflows Rise To $135 Million

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Solana has held its stance among altcoins, registering inflows more than any other cryptocurrency besides Bitcoin last week.  Institutional investment products have witnessed consecutive eight weeks of inflows, with some cryptocurrencies receiving a greater amount of inflows than others. According to the new CoinShares report on digital asset funds, the majority of this money went into Bitcoin products as the crypto continues to attract investor interest in light of recent developments in the crypto industry.  Solana Gains Momentum Among Institutional Investors Solana has been on an incredible run this year,…

AVAX Open Interest Climbs 10.4% To $224 Million, Is $30 Possible?

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The open interest for AVAX has been on a consistent rise over the last month, carrying the price of the altcoin along with it. The result of this continuous climb is the fact that the open interest has now surged to May 2022 levels, a development that could spell a massive rally for the price. AVAX Open Interest Surge To $224 Million According to data from Coinglass, the AVAX open interest has now climbed to $224 million. The website shows that there was an over 10% increase in the open…

Shiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned

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The majority of cryptocurrencies have started to turn green in terms of their price movement, which has led to Shiba Inu seeing gains of 2% over the past 24 hours. In spite of the modest increase in price, the SHIB burn rate seems to have taken a massive nosedive.  According to the official SHIB burn tracker, Shibbburn, only 983,884 SHIB tokens were burned in the last 24 hours, representing a decline of over 99% from the previous day. A significant reduction of this kind in the burn rate is guaranteed…

Kronos Research Halts Operations After Losing $26 Million In Security Breach

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Kronos Research, a Taipei-based market maker, trading firm, and venture capital fund, witnessed the withdrawal of significant amounts of crypto assets due to a breach of its security system.  Kronos Breach: Investigation Underway On Sunday, November 19, Kronos Research disclosed – via a post on X (formerly Twitter) – a security incident that involved unauthorized access to its API keys. Consequently, the company lost a significant amount of crypto funds and has halted all trading operations in a bid to launch a full investigation into the incident. In the interest…

Hashkey-Affiliated Wallet Sells Over $90 Million ETH In 10 Days

A wallet linked to Hong Kong-based crypto exchange Hashkey has reportedly sold over $90 million worth of Ethereum in the past 10 days. This massive selling activity appears to have triggered a slight decline in the ETH market, sparking speculations on the token’s price trajectory. Crypto Whale Conducts Massive Ethereum Sell-Off According to a Sunday post on X  by blockchain analytics platform, Lookonchain, a crypto wallet with the address “0xD26e ” sold off 50,115 ETH, valued at $97.7 million, within a period of 10 days. Lookonchain notes that this wallet…