Tokens related to staking services, artificial intelligence (AI), and data services have outperformed Bitcoin (BTC) and Ethereum (ETH) during the cryptocurrency market recovery over the past seven days. Artemis data Over the past week, BTC and ETH have shown gains of 4.9% and 3.4% respectively. Meanwhile, staking service tokens such as LDO and RPL rose by 18.8% and 34.4% respectively, recording a weighted average of 25.7% over the same period. This is almost double the average performance of 13.9% recorded by the entire cryptocurrency industry last week. AI-related tokens also supported solid development, reaching a weighted average of 23.8%.Data service…
Author: Crypto Flexs
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Jack Anderson 24 Aug 2024 04:50 Singapore-based BitFuFu is pushing ahead with Bitcoin (BTC) mining despite rising operational costs, reflecting a bullish industry outlook. Some of the world’s largest Bitcoin mining operations are expanding their efforts despite the steepest increase in mining costs ever seen, a clear sign of anticipation for the future of the world’s first and largest cryptocurrency. After Singapore-based cloud mining company BitFuFu recently released its second-quarter financial report, analysts are observing some interesting patterns that suggest the presence of large-scale BTC mining operations could bode well for the future of…
Peter Zhang 24 Aug 2024 05:28 Tether helps the U.S. Department of Justice seize $5 million worth of USDT in a fraudulent scheme, strengthening its commitment to combating illicit activity. Tether, the largest company in the digital asset industry, has taken a significant step in its ongoing efforts to combat illicit activity. According to Tether, the company helped the U.S. Department of Justice (DOJ) seize approximately $5 million worth of USDT stolen through a sophisticated fraud scheme. Pig slaughter scam The scam, dubbed “Pig Slaughter,” targeted victims through fake online relationships, ultimately tricking them…
Cryptocurrency giant Grayscale has launched a new trust for layer 1 Ethereum (ETH) competitor Avalanche (AVAX). Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says Avalanche has played a “pivotal role” in advancing the adoption of real-world asset (RWA) tokenization. AVAX’s price surged by 5.65% on Thursday, outpacing the overall cryptocurrency market, which fell by 1.3% over the same period. The new Grayscale Avalanche Trust functions like any other single-asset investment trust from an asset manager and is invested solely in AVAX tokens. Grayscale’s new product isn’t the only recent development that could impact AVAX’s pricing. Layer 1 projects also…
Louisa Crawford 24 Aug 2024 04:07 OFAC has imposed sanctions on Russian drone developer KB Vostok for its involvement in the invasion of Ukraine, disrupting Russia’s military supply chain. According to Chainalysis, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced additional sanctions on August 23, 2024, targeting approximately 400 entities in an effort to disrupt Russia’s military supply chain and procurement network. Among the entities designated is KB Vostok OOO, a Russian drone (UAV) developer implicated in the invasion of Ukraine. Who is KB Bostock? The company, also known as KB…
The third week of August 2024 surprised the cryptocurrency market, with some of the biggest altcoin gainers being those that had previously suffered significant losses. In particular, many of the top 100 altcoins by market cap are ending the week in the green. Let’s take a look at the top three outperformers, what drove their gains, and what’s next for them. Polygon (MATIC) Last Friday, the price of Polygon (MATIC) was $0.40. So far, the token has surged 32.50% over the past 7 days, reaching $0.53, making it one of the best performing altcoins. The impressive recovery of MATIC is…
Chirag Jetani, Diamante Founder and COO, will deliver a keynote address showcasing the power and potential of Diamante Net, the L1 blockchain technology. Diamante will be presenting Diamante Net, the world’s first layer 1 hybrid blockchain protocol, at the WebX 2024 conference in Tokyo, where the company will be participating as an official partner. The pioneering blockchain and AI company is one of the Platinum Sponsors of the WebX 2024 conference. This move reflects Diamante’s commitment to leading the future of Web3, which will be a key focus at the conference. Diamante expands to new areas As a key highlight…
Payment giant PayPal and cryptocurrency custodian Anchorage Digital are partnering on a stablecoin rewards program that will pay out rewards. Paypal US Dollar korean: +0.040% Tokens held by cryptocurrency-based banks or tokens stored in Porto, Anchorage’s institutional custodial wallet. These companies are promoting this model as a way for users to earn money from their PYUSD balances without having to stake, lend, or re-collateralize their funds. Since the stablecoin is completely separate from the on-chain account, Anchorage and PayPal do not lend out their customers’ assets to pay for the program. The launch of the rewards program for Anchorage’s authorized…
Join us telegram Stay up to date with the latest news coverage by subscribing to our channels. For investors without market insight, the odds of investing in a profitable token are very low. In fact, the odds are lower than winning a bet at a casino. However, experienced traders try to lower the odds and improve their chances by using special strategies, looking at the most popular cryptocurrencies on GeckoTerminal. Recent market analysis has shown that some tokens have seen a surge in trading activity. This trend suggests that investors are seeing the potential of these tokens and are accumulating…
James Ding 23 Aug 2024 12:31 The Hong Kong Monetary Authority has warned the public about fraudulent websites and phishing messages linked to Mox Bank Limited. The Hong Kong Monetary Authority (HKMA) has issued a public warning about fraudulent websites and phishing messages impersonating Mox Bank Limited. This warning was issued in response to several reports to the HKMA regarding such fraudulent activities. Fraudulent activity targeting Mox Bank customers According to the HKMA, fraudulent websites and phishing messages are designed to trick individuals into providing sensitive personal information such as login passwords and one-time…