Crypto News Updates

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IOTA continues strategic expansion with first DLT Foundation in the UAE’ The IOTA Foundation will allocate $100 million to the initiative. IOTA price was rallying after the news, up 50% at the time of writing. IOTA’s strategic expansion has reached another milestone with the registration of the first DLT foundation in the United Arab Emirates (UAE). The IOTA Foundation first announced plans for the foundation in September, highlighting registration with the Abu Dhabi Global as a step that would aid IOTA’s expansion in the Middle East and North Africa (MENA) region. The news came as the IOTA price spiked more than 50% to above $0.26. IOTA Foundation allocates $100 million to initiative Per today’s announcement , an investment of over $100 million has been allocated for the DLT Foundation, with the funding done in IOTA tokens. These will be vested over the next four years as the foundation looks to nurture innovation and adoption of the IOTA protoco l. The funding will also go...

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Chainlink has announced its Staking v0.2 is live, with a pool size of 45 million LINK.  v0.1 stakers are eligible to migrate their staked LINK from November 28. Minimum stake for community is 1 LINK and for node operators 1,000 LINK. Chainlink has officially upgraded its staking mechanism, with the new Staking v0.2 going live on November 28. The v0.2 staking will feature a 45 million LINK pool, with this accounting for 8% of the blockchain project’s circulating supply. Announcing that v0.2 was now live on the Ethereum mainnet, the Chainlink team said that existing v0.1 stakers were eligible to migrate their staked LINK with effect from November 28. The group’s accrued v0.2 rewards will give them access during a 9-day Priority Migration phase. LINK holders will have access from December 7, with this subject to “predefined eligibility requirements”, while general access is scheduled to kick off from December 11. #Chainlink Staking v0.2 is officially live on mainnet ⬡ S...

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Changpeng Zhao has reportedly resigned from the Binance.US Board of Directors. The former Binance CEO has also relinquished his voting rights in the US affiliate and will not participate in any governance decisions. Binance.US has announced that Changpeng Zhao, who recently resigned as the CEO of the global crypto exchange Binance , has stepped down as Chairman of the Board of Directors. CZ has also transferred his voting rights and will no longer be involved in the US-based crypto platform’s governance, according to a statement posted on X on Tuesday. “As CZ transitions to life after Binance, he has decided to step down from his role as Chairman of our Board of Directors and transferred his voting rights through a proxy arrangement, whereby his interest in the company is purely economic and he will no longer be involved in our governance,” the company said in the post. The update by the Binance.US team also pointed out that while it may share the Binance brand and technolog...

Crypto investment products hit 9-week high of inflows. Total inflows for week up to November 24 was $346 million, with $312 million in Bitcoin-related ETP products. Ethereum saw $34 million of inflows amid a turnaround in sentiment. Crypto investment products recorded $346 million in inflows for the week ending November 24, according to a weekly report by digital assets management firm CoinShares. The report highlights last week’s inflows into crypto exchange-traded products as the “highest total observed in the past 9 weeks of inflows,” CoinShares head of research James Butterfill noted .  According to the analysis, crypto products are on a run of inflows that’s now the biggest since the last bull market. Positive net inflows are likely to continue given the sentiment around the potential approval of a spot-based ETF in the US. Bitcoin ETPs record $312 million in inflows As total crypto ETPs inflows hit $346 million, the largest chunk of that went into Bitcoin (BTC) prod...

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Blast TVL reaches $570 million, days after the Paradigm and Standard Crypto backed L2 launched. A Japanese crypto VC is reportedly eyeing a $5M investment in the platform. Blast’s deposit-only smart contract has attracted huge criticism. Blast, the recently launched Layer 2 crypto project has surpassed $570 million in total value locked (TVL), according to data on Dune Analytics. With the project’s one-way deposit contract attracting criticism including from Paradigm researcher Dan Robinson , the number of depositors looks to have fallen from the peak seen last week. However, the L2’s value locked in ETH and stablecoins has risen to over $570 million just days after its launch.  The Blast team also shared the milestone on their X account, noting that over 63k community members were now earning yield (approximately 4% for ETH and 5% for stablecoins). They are also amassing Blast Points. Blast has reached $570 Million in TVL within 1 week. 63,948 community members are no...

The window is closing faster than most investors realize. TradFi’s most prominent players have given crypto the green light with their Spot ETF applications, and now nation-states are adopting pro-crypto stances. Hold onto your hats because this cycle will dwarf all that have come before. Elon Musk says Argentina’s pro-crypto president will make the country rich again, and Javier Milei’s victory shows that Argentina has an appetite for change. But what are the best cryptocurrencies to buy headed into 2024? Can memecoins like Galaxy Fox ($GFOX) replace the sinking peso? And what will Argentina look like in the coming decade? Javier Milei, Musk’s Proclamation, and Another Bitcoin ($BTC) Friendly Nation Javier Milei has been elected president of Argentina , and this radical libertarian has sweeping plans for change. Pictured in one of his campaign ads smashing Argentina’s Central Bank, can Milei bring the shakeup Argentina drastically needs? Keen to slash state spending, stamp out i...

Memecoins have been flying, and for investors who are new to crypto, it’s money time. These high-risk assets only surge during times of market certainty when animal spirits reign supreme. Bonk ($BONK) has already rallied 2,300% and is rising, but does $BONK have more bounce, or is the bonking party over? What does $BONK’s outrageous success dictate for other memecoins? Is the scene changing? Which will be the top 5 cryptos to invest in from this sector? Has Bonk’s success paved the way for Galaxy Fox ($GFOX) to rally even higher? Galaxy Fox ($GFOX) Missed $BONK?  Galaxy Fox’s presale shows that investors who missed buying Bonk early are not missing the chance to be early adopters of $GFOX. Funding has flown past $200,000, and this play-to-earn token has become one of the top cryptos to buy right now. Bonk’s success shows that speculative appetite is high. Additionally, it displays how fearsome the rallies will be for meme coins that have not yet experienced a bull market. Gala...

Over time, Decentralized Exchanges (DEXs) have expanded due to their ability to provide users complete ownership over digital assets. Nonetheless, a lot of DEXs have native tokens just as centralized exchanges.  As a result, some of the most popular DEX coins that have ranked among the best cryptocurrency investment opportunities are Uniswap, PancakeSwap, and dYdx. However, how well do they stack up against the emerging Galaxy Fox ($GFOX) ? >>BUY  $GFOX  TOKENS<< Galaxy Fox ($GFOX) Has Been Predicted To Outperform the Crypto Market The cryptocurrency market has entered another bull cycle. Where analysts have predicted price growth across the board, Galaxy Fox ($GFOX) has been picked as a coin to watch. The project has been predicted to outperform the rest of the crypto market because of its uniqueness. Galaxy Fox wants to establish its blockchain game as the best way to earn passive income with cryptocurrency in 2023. Like in other blockchain P2E games ,...

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SIDUS price skyrockets as project burns 6.8 billion tokens. The Web3 gaming and AI project has seen the price of its native utility token jump 40% in the past 24 hours. Buying pressure for SIDUS has pushed it to its highest level since May 2022. Sidus (SIDUS) price has risen sharply in the past few days, rising to its highest level since May 2022. This comes after the SIDUS HEROES team announced they had burned a staggering 6.8 billion of the native utility token’s supply. The announcement on Friday revealed the 6.8 billion SIDUS tokens, accounting for 23.13% of the total supply. These tokens have permanently been removed from circulation, cutting total supply to about 22.6 billion. 🔥 It’s done! We’ve burned 6,826,500,000 $SIDUS tokens – 23.13% of the total supply! 🔥 ✔️ Transaction details: https://t.co/ew5O7CgeG8 Both our revolutionary votes are over – $SIDUS and $SENATE are much stronger, with a lot of space for growth! 🚀 pic.twitter.com/dX5tpbtAJT — SIDUS HEROES (@...

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The Cosmos Hub community has approved a proposal capping ATOM’s maximum inflation rate at 10% Per the proposal, validators can still break even or turn profits at 10% inflation Reducing inflation rate will help Cosmos’ security and growth potential. The latest Cosmos news is that the community has approved a proposal that seeks to cut the maximum inflation rate of ATOM to 10%. The Cosmos Hub X account shared the results of the vote that ended on November 26. Proposal 848 , dubbed the “ATOM Production Reduction: Proposal to Set the Maximum Inflation Rate to 10%” passed with 41.1% of the vote in support and 31.9% against. Vote turnout was more than 72%, the highest in the Cosmos Hub’s history.  ATOM’s maximum inflation rate to reduce from 20% to 10% Approval means the cryptocurrency’s maximum inflation parameter will be reduced from 20% to 10%, bringing the current inflation rate down from 14% to 10%. Cosmos Hub’s annualized staking yield will also reduce from 19% to about 1...

Binance settled with the SEC and agreed to pay $4.3 billion. Changpeng Zhao also agreed to step down as the CEO and pay $50M. Memeinator continued with its token sale as it raised over $1.4 million. The crypto fear and greed index remained in the green this week even as the industry went through severe challenges. Bitcoin surged to over $38,000 while crypto tokens like Superverse (SUPER), GameSwift, and EthereumPoW more than doubled. In all, the total market cap of all digital currencies approached the $1.5 trillion level. Binance and Kraken woes The crypto industry had several important events this week. It started with a major lawsuit brought by the Securities and Exchange Commission (SEC)  against Kraken , one of the biggest crypto exchanges in the world. The SEC alleged that the company operates as an unregistered securities exchange, putting millions of customers at risk. It also operates illegally, providing broker, dealer, and clearinghouse services. Further, t...

DUBAI, UAE, November 24th, 2023, Chainwire Binance Labs , in partnership with BNB Chain and CMC Labs, has introduced a new Founder Track to the Most Valuable Builder (MVB) Accelerator Program. MVB, now in its 7th season, is an accelerator program jointly organized by Binance Labs and BNB Chain. The program was launched in 2021 with a focus on supporting builders and growing the BNB Chain ecosystem. This season, the organizers are welcoming CMC Labs to the MVB program as a strategic partner. The MVB program now consists of two tracks. The newly added Founder Track functions as a venture studio dedicated to incubating 100 innovative ideas that address real-world needs. This track sees projects receive backing from Binance Labs and support in deploying their ventures on BNB Chain. Since the program’s inception, the Startup Track has been integral in providing tailored support to early-stage startups. It provides a customized curriculum to assist Web3 startups on their journey toward l...

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X (formerly Twitter) has restricted the account of ex-Binance CEO Changpeng ‘CZ’ Zhao. The Binance founder stepped down on Tuesday after pleading guilty to DOJ charges. Binance founder and former CEO Changpeng ‘CZ’ Zhao’s X account has been restricted. While its not clear why the ex-Binance chief’s X (formely Twitter) is restricted, the move comes as a surprise to many. On Thursday, US prosecutors wanted CZ prevented from leaving the US for the UAE, with allegations that he was a flight risk. This is after he pleaded guilty to money laundering charges and was released on a $175 million bond. Binance will also pay a $4.3 billion penalty as settlement with the US Department of Justice (DOJ). After he stepped down, CZ was replaced by Richard Teng, the former head of Abu Dhabi Global Market, UAE. Update: CZ’s account restriction was due to several name changes, which is what he noted in a comment as he urged against FUD. Happy Thanksgiving! 🦃 No need to FUD. All good now. 🙏 ...

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BLUR has outperformed other altcoins with 35% upside Data shows increased whale buying after the end of the NFT marketplace’s season 2 airdrop. BLUR price reached a high of $0.52, its highest level since late May. Blur (BLUR) was outperforming with a massive 35% upside at the time of writing. Meanwhile, top coins and tokens in the crypto market continued to grapple with increased bearish pressure following events that unfolded around Binance in the past 24 hours. Market data shows BLUR traded to $0.52 on Wednesday, its highest level since May 29, 2023.  But while BLUR was 35% up and looking to extend gains seen over the last 24 hours, Bitcoin and Ethereum were -1.1% and +2.8% at $36,560 and $2,034 respectively. Blur token surges after Season 2 airdrop Blur’s recently completed airdrop looks to have sparked a flurry of buying by large holders. According to on-chain data, there has been massive whale activity since Monday when the Blur team announced NFT traders could begi...

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Microsoft has hired ex-OpenAI CEO Sam Altman, who will now lead the tech gian’t advanced AI research team. Microsoft invested billions in OpenAI and was among investors that tried to push for Altman’s return after his ouster last Friday. Microsoft has pulled it off. The company that tried to push for the reinstatement of ousted OpenAI CEO Sam Altman just announced he was now joining the tech giant. On Monday November 20, the OpenAI board maintained Altman would not return as CEO, with his role handed to Emmett Shear – the former CEO of Twitch. And now Satya Nadella, the Chairman and CEO of Microsoft Corporation just announced Altman will join the company. He is also set to lead the tech giant’s new advanced AI research team. “ We’re extremely excited to share the news that Sam Altman and Greg Brockman, together with colleagues, will be joining Microsoft to lead a new advanced AI research team. We look forward to moving quickly to provide them with the resources needed for thei...

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Yearn Finance (YFI) price fell more than 45% to below $9k on November 18. The decline occurred amid market manipulation claims, including from the dYdX team. YFI price was around $9,260 on Sunday morning. Yearn Finance (YFI) is changing hands just above $9,260 on Sunday morning, November 19. The YFI token’s 45% slump from highs of $15,548 to lows of $8,918 on Saturday wiped out all of last week’s gains. YFI/USD had climbed by over 170% over the past month. YFI price nosedives – what happened? Yearn Finance’s steep price decline came as negative sentiment hit the market amid allegations of potential market population.  Amid this, YFI saw huge deposits to exchanges and on-chain data shared by market platform Lookonchain shows one whale selling as prices plummeted.   Why did $YFI suddenly plummet more than 40%? Wallet "0x48f9" transferred 446 $YFI ($5.8M) out, most of which was deposited to exchanges. https://t.co/Scw2wsE7lK pic.twitter.com/mrikh2dviO — Lookonch...

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VeChain (VET) price was at $0.023, down 5% in the past 24 hours, while Ethereum (ETH) traded near $1,940. Both altcoins have retreated from recent highs amid profit deals and as Bitcoin drops below $36k. VeChain (VET) broke higher earlier this month as the crypto sentiment around Bitcoin and Ethereum ETFs combined with other positive news to buoy buyers. VET surged as high as $0.023, the cryptocurrency’s highest level since April 30. But in reaching a six-month high, VeChain welcomed profit takers amid similar struggles for crypto and equities. Indeed, VET/USD is down 5% in the past 24 hours and nearly 8% this past week.  VeChain’s 30-day gains are currently trimmed to just over 26% as price falls to $0.020. VeChain price outlook as ETH eyes major support area The struggles for VET price come as the top altcoin by market cap Ethereum battles to hold onto gains above $2k. Ether price is changing hands near $1,940 at the time of writing, down 3% in the past 24 hours and nea...

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Aave Companies rebrands and diversifies its portfolio. The rebranding and acquisition underscore a pivotal moment for the company. This marks a strategic shift towards a more expansive and inclusive web3 future. In a strategic move to solidify its position in the web3 landscape, Aave Companies has undergone a significant transformation, rebranding itself as Avara. The founder, Stani Kulechov, indicated that this marks the final name change for the company, emphasizing a focused and definitive shift in its identity. Avara’s robust portfolio Under the Avara umbrella, the company oversees a diverse portfolio of entities, including the renowned Aave Protocol , Aave Labs, stablecoin GHO, and the decentralized social network protocol Lens. With approximately $8.66 billion in liquidity locked across various networks and markets, Aave’s impact in the decentralized finance (DeFi) space remains substantial. Aave Protocol, which will continue under the Aave Labs brand within Avara, main...

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Layer 1 blockchain Sei welcomes USDC as Circle makes strategic investment USDC will provide Sei developers and entrepreneurs access to fast and instantaneous transaction settlements Circle Ventures, the investment arm of USDC stablecoin issuer Circle, has made a strategic investment in Layer 1 blockchain Sei, the firms announced on Wednesday. The strategic investment includes “ go-to-market advice around Circle’s stablecoin infrastructure ,” the Sei team noted. The stablecoin ‘s integration will also see developers and entrepreneurs benefit from USDC’s global, cheap and instantaneous transaction settlements when building and deploying products. It also means improved cross-border transactions and liquidity for users and developers on the Sei network. “ T he entire Sei team is thrilled to work strategically with Circle Ventures, to create brand new use cases for USDC that leverage Sei’s infrastructure ,” said Samy Karim, director at the Sei Foundation. Karim noted that stablecoi...

Disney has partnered with Dapper Labs to bring digital collectibles of Disney’s Pixar icons and Star Wars characters to on-chain users. The companies are launchinh Disney Pinnacle, an NFT platform that will offer collectible and tradable digital pins to fans. Disney and Dapper Labs are partnering on a massive NFT venture as they seek to bring 100 years of iconic Disney cartoons and characters on-chain. The two companies announced the launch of Disney Pinnacle, an NFT platform that will bring “the magic of pin collecting to the digital age.”  As well as a century’s worth of Disney characters, the platform will offer users access to Pixar icons and the heroes and villains of the Star Wars galaxy. Collect, trade and share Disney NFTs across networks According to an announcement by Dapper Labs, these characters and icons will be available as distinct collectible and tradable digital pins. “ Disney Pinnacle is an all-new product designed from the ground up to incorporate eve...

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Ethereum is looking to break above a key resistance level at $2,150. Crypto analyst Michael van de Poppe says ETH price could jump to between $3,100  and $3,600 if a breakout happens. Catalyst for the market include a spot Bitcoin ETF approval and developments on Ether spot ETF applications. Ethereum (ETH) traded to highs of $2,136 last week, before giving up some of the gains over the weekend to touch $2,016. The top altcoin has however seen an uptick on Monday, rising to change hands around $2,120 as buyers looked for a first green candle in three days. Various market observers see a potential approval for a spot Bitcoin ETF as a catalyst that could catapult both BTC and ETH. While many experts opine that the most likely period for approval is early January, there’s a window for the SEC to greenlight the first spot Bitcoin ETF for the US market.  This window is open until November 17. Reminder: There is currently a window open this week for an early approval of ...

XRP whales recently moved nearly 900 million tokens in significant weekend transactions. Ripple Labs has also strategically transferred 100 million XRP. The Shiba Memu presale countdown intensifies with only 46 days left. In a weekend marked by significant cryptocurrency movements, XRP whales have stirred the waters by transferring nearly 900 million XRP tokens between anonymous addresses. Simultaneously, the Shiba Memu presale is gaining momentum, with only 46 days left until its conclusion. This article delves into the jaw-dropping XRP transactions and the ongoing Shiba Memu presale dynamics. XRP whales in action Over the weekend, large XRP holders, commonly known as whales, executed massive transfers, bringing the total close to 900 million XRP tokens. Two substantial transactions, one involving 425,807,780 XRP and the other moving 424,307,758 XRP , were conducted by wallets with unregistered owners. At the time of these transfers, the transactions were valued at $288,49...