In the 24 hours following that move, prices of Moons (MOON), the native token of Reddit’s r/CryptoCurrency community, fell some 85% on the news, Bricks’ (BRICK), distributed as a reward for contributions in the r/Fortnite subreddit, dropped 67%, and Donut (DONUT), the token that represents the community points of the r/ethtrader subreddit, slumped 65%. Source
Total liquidity for the token is a paltry $3.5 million on decentralized exchanges, meaning a single significant sale could instantly topple the rise. Source
The newly introduced Midas stablecoin, set to integrate with DeFi platforms in the current quarter before a retail launch early next year in 2024. Midas, a stablecoin backed by US Treasuries, plans to join the growing trend of convergence between cryptocurrency and traditional finance. The project plans to introduce its stUSD token to decentralized finance (DeFi) platforms such as MakerDAO, Uniswap, and Aave in the upcoming weeks. The Midas stablecoin initiative aims to acquire Treasuries through asset manager BlackRock, utilizing Circle Internet Financial’s USDC stablecoin as an on-ramp, as outlined in…
Crypto lender Celsius Network continues to face legal upheavals as it embarks on a new journey post-bankruptcy. Meanwhile, its native CEL token has seen a 40% increase in the past seven days. Navigating legal challenges Celsius Network’s transition unfolds against a backdrop of legal challenges and financial turbulence. The recent court endorsement of the firm’s strategic shift toward crypto mining signifies a crucial milestone for the company, aiming to rectify the predicament of customers who have so far endured prolonged fund inaccessibility. Amidst these developments, revelations by the Commodity Futures…
The Badger DAO utility token, BADGER, has skyrocketed in value thanks to cryptocurrency exchange Binance. Badger DAO (BADGER) is a decentralized autonomous organization (DAO) with a single purpose: to create the products and infrastructure needed to accelerate the use of Bitcoin (BTC) as collateral for other blockchains. In 24 hours, BADGER saw an impressive 20.18% increase, rising from $2.8 to $4.61 in the price range. At its peak, the token price reached $5.53. This price increase indicates positive market sentiment following Binance’s announcement. BADGER price | Source: CoinMarketCap The coin’s…
Altcoins linked to Sam Bankman-Fried see a significant surge, as the FTX token soared over 200% in a week. Despite the recent conviction of Sam Bankman-Fried on multiple counts of fraud and conspiracy, the altcoins closely associated with the FTX founder saw a major upswing during this week’s market rally. The so-called ‘Sam Coins’ have seen major gains this week, despite the negative sentiment around them throughout the month-long trial. #FTX Token has now surged nearly 200% in the span of a few days amid news of a possible exchange…
According to recent news, Cardano’s total value locked (TVL) surged, surpassing Bitcoin’s. Also, Tether has increased its USDT reserve on Tron with an additional 1 billion USDT. Meanwhile, a new project, Everlodge, continues to gain traction. Cardano TVL overtakes Bitcoin In Q3 2023, the Cardano ecosystem experienced rapid expansion, attributed to heightened developer activity and a positive market sentiment. Cardano’s Total Value Locked (TVL) surged to $240 million, securing its position as the 11th most active blockchain. This spike also saw the project’s TVL rise to an all-time high. The…
Cathay Securities announced that it has obtained regulatory approval to launch Taiwan’s first Security Token Offering business. Taiwan’s financial sector, Cathay Securities has become the island’s first brokerage firm authorized by the Financial Supervisory Commission to launch a Security Token Offering (STO) business. This pioneering move allows the brokerage to issue digital assets that represent investments, marking a significant milestone in the evolution of traditional finance and investment mechanisms in Taiwan. Cathay Securities’ inaugural STO will finance the parent company of Green Point Energy Creation, known for pioneering the renewable…
Taiwan’s financial watchdog, the Financial Supervisory Commission (FSC), has awarded the country’s first security token offering (STO) license to Cathay Securities. According to local news reports on Nov. 9, Cathay received regulatory approval for its “Sunshine Green Yield” STO bonds with a time to maturity of six years, initial annual interest of 3.5%, and an initial principal amount of 30 million New Taiwan Dollars ($0.93 million). Through the token subscriptions, enterprise owners can purchase green electricity on the market for environmental, social, and corporate governance initiatives under favorable conditions and…
FTT, the native token of defunct cryptocurrency exchange FTX, has surged by 90% following comments from SEC chairman Gary Gensler in relation to a potential reboot of the exchange that collapsed one year ago. Source