The Hong Kong Monetary Authority (HKMA) has released first quarter 2024 statistics for the Stored Value Facility (SVF) scheme, according to the HKMA. These statistics provide valuable insight into the usage and transaction volume of SVF accounts issued by licensed operators. Key Statistics and Growth By the end of the first quarter of 2024, the total number of SVF accounts in use reached 73.58 million, an increase of 3.0% from the previous quarter. The total number of SVF transactions in this period was approximately 1.9 billion, a decrease of 4.0% compared to the fourth quarter…
Author: Crypto Flexs
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The founder of Rizz memecoin found himself in a precarious position while promoting his cryptocurrency during a live stream on X.com, as onlookers watched in shock as the value of his cryptocurrency suddenly plummeted 90%. Nicolas Vaiman, CEO of Bubblemaps, joined the space before the collapse and was well aware of what was happening. Bubblemaps posted a thread describing the incident at source: bubble map.According to the Bubblemaps thread, $RIZZ was launched on the Solana platform last week. “Founders with a sizeable $8 million stake are invited to introduce their tokens on a live Space,” the team wrote. But as…
As the summer begins, the Render Network takes time to reflect on its accomplishments for spring 2024, highlighting network updates, releases, and Render Network Proposals (RNPs) that advance its decentralized platform. Render network metrics Render Network has seen significant year-over-year growth, particularly in key metrics such as network compute capacity. Comparing Q1 2024 to Q1 2023, the network’s available GPU performance has increased significantly as more intensive GPU rendering jobs are submitted. Despite the significant increase in frames processed, the growth in RENDER usage outpaced the number of frames rendered. rendered frame There were…
uber Ride sharing pioneer ModelHindrance taxi industry. Solana-based travel is planning to introduce a ride-sharing app. travel We envision several competitive ridesharing initiatives. Operator its execution platform. Ridesharing apps have revolutionized the taxi industry with innovations such as cashless payments, rating systems, and competitive pricing. Despite competition from Lyft and Grab, Uber remains the global leader, facilitating 7.6 billion trips and generating $31.9 billion in revenue in 2022, but reported a net loss of $9.1 billion during the period. But a new blockchain-based challenger called TRIP is gearing up to disrupt the disruptor. Built on the Solana blockchain, TRIP is…
Leading cryptocurrency exchange OKX has announced a new campaign targeting merchants in Southeast Asia excluding Vietnam, offering them the opportunity to win featured advertising spots for USDT pairs. According to OKX, the campaign aims to increase visibility and traffic for participating merchants by placing ads on top of peer-to-peer marketplaces. Campaign details The campaign will run from 15:00 UTC on June 21, 2024 until 23:59 UTC on July 12, 2024. To be eligible, participants must be classified as a Super or Diamond Seller on the OKX platform. Additionally, you must complete at least 300 transactions…
Ethereum (ETH) on-chain indicators suggest the altcoin market could be primed for a price surge, according to digital asset analytics firm CryptoQuant. The company said on social media platform “This means the ETH market is heating up. Historically, when Ethereum surges, other alts tend to follow.” Source: CryptoQuant/X MVRV is the ratio of a digital asset’s market capitalization to its realized capitalization (the value of any asset at its purchase price). It is used to evaluate whether a token is undervalued or overvalued. At the time of writing, ETH is trading at $3,514. The second-largest cryptocurrency asset by market capitalization…
Ethereum layer 2 network Arbitrum saw its daily revenue soar to a record $3.4 million (ETH) on Thursday due to increased activity related to the launch of ZRO token claims on its coordination chain LayerZero.Arbitrum’s June 19 revenue was only $20,000. This shows daily revenue soaring more than 16,500% on Thursday, according to the Dune dashboard compiled by datawarlock.“Arbitrum was one of the biggest winners of the LayerZero airdrop,” said Austin Marrazza, product manager at Arbitrum developer Offchain Labs. “DAO made $3 million in congestion fees today by charging traffic.” Profit decision. Image: Dune Analysis.The LayerZero Foundation, the organization behind…
The BNB chain is set to undergo a revolutionary upgrade with the introduction of BEP 336, inspired by Ethereum’s EIP 4844. This upgrade aims to optimize data storage and processing on the blockchain, significantly reducing transaction costs by up to 90% and improving network performance. On the BNB Chain blog.What is BEP 336?BEP 336 will be officially introduced through the Haber hard fork, which will take place on June 20, 2024. BEP 336 introduces “Blob-Carrying Transactions” (BlobTx), a concept designed to streamline the transaction confirmation process on the network.Blobs are temporary, cost-effective memory segments that…
Lido earned the highest fees compared to other protocols. As the network grows, LDO prices also fall significantly. Lido (LDO) has been one of the most dominant protocols in the staking space. But despite this, the protocol and its tokens were not as popular as other networks in the cryptocurrency industry. Lido surpasses them all According to the latest data, Lido generates the highest fees among all cryptocurrency applications. This surge in fees coming from Lido suggests that network activity is relatively high and users are consistently using this platform for staking services. Source: X However, if you look at…
Security • June 22, 2024 4:40 PM EDT Posted 1 minute ago In ~ CoinStats, a popular app that helps users create wallets and track their cryptocurrency portfolios across various chains, warned users who used the app to create wallets to move their funds after a “security incident” affecting the platform. I did. The platform also noted on Saturday that an iOS notification notifying some users that they had won a prize was actually a scam due to the same security incident. Some Android users reported receiving a notification in a thread discussing the incident on Reddit. “We are currently…