The new social app has driven over 4,400 ETH ($8.1 million) in trading volume in less than 24 hours since its launch, far surpassing OpenSea’s in the same time frame. But with its mysterious origins, lack of privacy policy and lagging network, it raises some red flags. Source
Bitcoin (BTC) traders are currently not pleased with the recent price trends, especially due to the inability of its price to surpass the $30,500 mark over the last four weeks. This frustration is compounded by the fact that several requests for spot Bitcoin exchange-traded funds (ETFs) are either being delayed or pending review from regulators. Interestingly, there has been a noticeable uptick in the open interest of Bitcoin’s futures contracts, which likely indicates increased demand from institutional traders. On the other hand, activity in the derivatives markets has been lackluster.…
Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin’s journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory. The recent attempt at a bullish surge, stemming from the $11 support level, encountered a formidable obstacle at the $15.8 resistance level. This pivotal juncture proved to be an insurmountable barrier, leading to an abrupt price rejection. The consequence of this rejection has been instrumental…
The United States could make up for 99.5% of the global trading volume for crypto-related exchange-traded funds — but only if spot Bitcoin ETFs are approved, according to a Bloomberg ETF analyst. Currently, North America accounts for 97.7% of all crypto ETF trading volume, Bloomberg senior ETF analyst Eric Balchunas revealed in an Aug. 10 X (Twitter) post. “If/when spot ETFs come out in the U.S. this will likely go to like 99.5%,” he speculated. Global crypto ETF trading volume: Source: Eric Balchunas on X (Twitter) There is currently a…
Telegram trading bots, which have been turning the messaging platform into a quasi-crypto marketplace, pose significant security risks for users and require further scrutiny, according to blockchain security firms. While such trading bots have existed for years, they’ve recently gained attention as crypto markets gain and associated bot tokens have gained in price, blockchain security firm CertiK told Cointelegraph. As of the time of writing, the combined market capitalization of Telegram bot tokens is nearing $250 million, according to CoinGecko. The largest of the pack is Unibot; other popular bots include Wagie…
Cryptocurrency exchange Bitstamp will suspend trading of Axie Infinity (AXS), Chiliz (CHZ), Decentraland (MANA), Polygon (MATIC), Near (NEAR), Sandbox (SAND), and Solana (SOL) for customers residing in the U.S. beginning August 29. According to the Aug. 8 announcement, trading of the seven aforementioned cryptocurrencies will soon become unavailable for trading for U.S. customers due to “recent developments.” While the firm did not specify the reason for their suspension, all seven tokens are alleged by the U.S. Securities and Exchange Commission to be unregistered securities in its complaints against cryptocurrency exchanges Binance…
Huobi will launch a trading pair with PayPal’s stablecoin PYUSD, backed by the US dollar, with a perpetual zero trading fee. Huobi users will be able to trade PYUSD/USDT. The announcement highlights that the exact date of pair launch will depend on market circulation and liquidity factors. One day earlier, Justin Sun invited PayPal to consider TRON as a blockchain for its stablecoin. I cordially invite PayPal to consider issuing PYUSD on #TRON, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital…
What: CryptoPunks, one of the earliest NFT projects on Ethereum and also one of the most popular collections of all time, experienced a number of high-profile trades this week, including one from prolific NFT artist Beeple. His first profile-picture (PFP) NFT purchase, the clownish Punk #4953 set the stage for other high-value buys, including Punks #6634, which sold for 235 ETH (about $432,000) and Punk #3307, which sold for 500 ETH (about $915,000). Source
According to a report by CCData, a digital assets data provider, crypto trading volumes on centralized exchanges in July fell to their lowest this year as the bear market lingers. Spot trading volumes dipped by 10.5% to $515 billion, while derivatives volume dipped by 12.7% to $1.85 trillion. This slump has been attributed to the low volatility in the price action of the two leading crypto tokens – bitcoin and ether. Both tokens have continued to experience sideways price movement since the beginning of July, thus keeping the market players…
Binance, the world’s largest crypto exchange, recently added the BTC/FDUSD and ETH/FDUSD trading pairs to its zero-fee trading program. Binance recently listed FDUSD, a 1:1 USD stablecoin on the BNB smart chain issued by Hong Kong-based licensed trust company, First Digital. With the new zero-fee trading program, users can buy and sell supported cryptocurrencies using FDUSD without paying transaction fees. Binance Introduces Zero-Fee Trading Program The zero-fee trading program is part of Binance’s efforts to increase trading volumes between stablecoin pairs. The company currently has a zero-fee bitcoin trading &…