Over the past 30 days, DYDX has more than doubled in price as speculators anticipated the token’s migration from Ethereum to the dYdX chain. However, a large token unlock in just over two weeks has the potential to damp spirits. There are 179 million DYDX tokens in circulation, and the upcoming unlock will increase that to 395 million, according to token.unlocks. Source
OMG, the native token of the OMG Network, climbed to a six-month high after Ethereum creator Vitalik Buterin published a blog post on how Plasma, the technology behind the OMG Network, has the potential to reduce transaction fees and improve security. Source
GROK, an X AI-inspired token, lost nearly $100 million in capitalization in the past 24 hours as its developer was linked to previously rug-pulled projects. The token is inspired by, but is completely unrelated, to Grok AI, a chatbot service by Elon Musk-owned X that’s currently in beta testing. Source
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…