Tag: Token

Nigerian crypto exchange’s token launch draws scrutiny

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Patricia, a Nigerian cryptocurrency exchange, has revealed the introduction of its own native token named Patricia token (PTK). However, this launch has generated more doubt than applause within the local cryptocurrency community. Native tokens are digital assets that are specific to a particular blockchain platform or cryptocurrency exchange. They are created and issued directly by the platform or exchange itself. Examples of native tokens include Binance Coin (BNB) on the Binance exchange, Ether (ETH) on the Ethereum network, and SOL on the Solana blockchain. In the official communication on X…

Nigerian crypto exchange’s token launch draws scrutiny

Patricia, a Nigerian cryptocurrency exchange, has revealed the introduction of its own native token named Patricia Token (PTK). However, the launch has generated more doubt than applause within the local cryptocurrency community. Native tokens are digital assets that are specific to a particular blockchain platform or cryptocurrency exchange. They are created and issued directly by the platform or exchange itself. Examples of native tokens include BNB (BNB) on the Binance exchange, Ether (ETH) on the Ethereum network, and Solana (SOL). In the official communication on X (formerly Twitter), the company…

Will The Planned Token Unlock Bring Back The Energy?

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Avalanche (AVAX)  is gearing up for a significant unlock event that has sparked speculation among investors. The past month has witnessed a prevailing bearish sentiment, with volume indicators suggesting that the buying pressure might not be robust enough to counter the crypto’s prevailing losses.  Despite this recent decline, all eyes are on the impending unlock event, pondering the potential impact it might have on AVAX’s price trajectory. Scheduled to occur later this week, the unlock event is based on data sourced from Token Unlocks. This data indicates that an impressive…

AVAX Price Bucks Under The Pressure Of Upcoming $102 Million Token Unlock

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While most altcoins are looking toward a recovery from the recent market crash, the AVAX price seems to be gearing up for the opposite. The reason behind this is the massive token unlock that is set to occur this week, which will undoubtedly place more sell pressure on the already struggling price of the digital asset. $102 Million In AVAX Set To Be Unlocked The Avalanche network, like a lot of others, has locked a portion of its total token supply to be released into circulation on a periodic basis.…

Bitget and crypto influencer embroiled in legal saga after Reel Star token listing fiasco

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Update (Aug. 18 at 2:09 pm UTC): This article has been updated with both sides’ perspectives and additional information. Further commentaries are expected from both sides. Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended his withdrawals and froze $200,000 in Tether (USDT) while attempts to seek clarification went unanswered.  Luthra’s involvement with the Reel Star project serves as a backdrop to these events. The influencer was hired as an…

Mantle pauses token migration to stop FTX converting $43M in BIT tokens to MNT

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A community member started a discussion among participants in the Mantle decentralized autonomous organization (DAO), proposing to restrict the collapsed FTX exchange and Alameda Research from converting their BitDAO (BIT) tokens worth $43 million to Mantle (MNT) amid the ongoing token migration process.  Community discussion on preventing FTX from converting its BIT tokens. Source: Mantle On Nov. 2, 2021, BitDAO swapped 100 million BIT with Alameda in exchange for over 3.3 million FTX tokens (FTT). The trade came with a public commitment to hold each other’s tokens for a span…

Blockchains Keep Launching, From Sei (and Its $SEI token) to Shibarium (and Its $SHIB)

SEI HELLO! Sei, a new layer-1 blockchain built using Cosmos technology, launched to the public, and its native SEI token garnered more than $1 billion in trading volume after being listed on crypto exchanges including Gate.io and Binance. The project is notable because it was designed as an application-specific blockchain meant for trading, in contrast to more general-purpose networks like Ethereum that could theoretically support a wider range of use cases. Jay Jog, co-founder of Sei Labs, which led the new blockchain’s development, said that the “solution” to providing faster…