Justin Sun-affiliated stablecoin TrueUSD (TUSD) has seen its market capitalization drop by nearly 80% after cryptocurrency exchange Binance removed several trading pairs. TrueUSD (TUSD), a stablecoin issued by the TrustToken platform now operating as Archblock, fell 78.9% after several TUSD pairs were delisted from Binance, analysts at CCData said. In its latest stablecoin research report, CCData stated that monthly trading volume for TUSD pairs on centralized exchanges has decreased to $569 million. This represents a decline of almost 99% since May 2023. “Binance remains the dominant exchange trading the most TUSD pairs with 68.2% market share. WhiteBit and BitMart occupy…
Author: Crypto Flexs
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Nansen, a blockchain analysis platform, revealed that DBS, Singapore’s largest bank, is an Ethereum whale after identifying a wallet believed to be owned by a financial institution.In a social media post on May 30, Nansen claimed that DBS holds 173,753 ETH worth approximately $648 million in the wallet address “0x9e927c02c9eadae63f5efb0dd818943c7262fb8e.” The bank added that it earned more than $200 million from its ETH holdings.Nansen analyst Edward Wilson said:“Nansen is 100% confident that this belongs to DBS. DBS owns the private keys of these wallets and these assets are likely to be part of the custody solution.This is similar to how…
According to Bitfinex head of derivatives Jag Kooner, next week’s European Union parliamentary elections could provide further clues as to how cryptocurrencies will be regulated in that market.“A right-wing shift could lead to stricter cryptocurrency controls, while a cryptocurrency-friendly outcome could accelerate supporting regulations like MiCA,” Kooner told The Block.Bitfinex analysts said investors will be watching the EU election for regulatory clues, which could have a major impact on the broader cryptocurrency market in June and next month.Impact on MICA Framework ImplementationKooner noted that the upcoming EU elections are very important in shaping the bloc’s legislation, especially the implementation of…
Real Vision analyst Jamie Coutts believes the altcoin market is preparing for a massive breakout against Bitcoin (BTC). The former Bloomberg analyst told his 18,100 followers on social media platform Coutts says: “Based on where we are with cryptocurrencies, the president, and most importantly, the liquidity cycle, alt-season signals are likely to emerge in the coming weeks.” Coutts says a historical sign of the start of alt season is when the alt season index is trending upward at the same time that the smart contract platform (SCP) sector is both rising. This is indicated by a green arrow in the…
Ethereum price extended its downward correction below the $3,800 support level. ETH is currently approaching the $3,720 support and may target a new increase. Ethereum extended its downtrend after failing to stay above the $3,880 area. The price is trading below $3,880 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows a major bearish trendline forming at resistance $3,800. A break above the support level of $3,720 could lead to the pair continuing to fall. Ethereum price falls further Ethereum price, like Bitcoin, began a downward correction below the $3,880 support zone. ETH…
In the dynamic world of cryptocurrencies, Memecoin has recently emerged as a major player dominating the open interest charts with notable traction. Typically characterized by a humorous or thematic basis, Memecoins are no longer just social tokens. They have now become significant financial assets that influence market dynamics.Open interest chart. Source: CoinglassUnderstanding open interest in the cryptocurrency marketOpen interest (OI) represents the total number of outstanding derivative contracts, such as futures, that have not yet settled. For each futures contract, the contract is marked as ‘open’ until the corresponding buyer and seller are matched and the contract is settled. OI…
Binance Academy has launched a new initiative to educate users about non-fungible tokens (NFTs). According to an official announcement on the Binance website, the Academy will introduce an ‘NFT Deep Dive’ course where verified users can share $5,000 in NFT trading fee rebate vouchers. Activity details The new activity is set to run from 09:00 UTC on May 30, 2024 until 09:00 UTC on June 6, 2024. The first 1,000 eligible users who complete the course and associated quizzes during this period will each receive a $5 NFT transaction fee rebate voucher. How to Participate…
join us telegram A channel to stay up to date on breaking news coverage Meme Ai price is up 29% in the last 24 hours, trading at $0.008919 as of 1:35 AM ET. With this surge, MEMEAI price is facing resistance due to the downward trend line of the Fibonacci indicator. This surge follows the announcement that the MEMEAI chain is scheduled to launch in June. This launch will bring an EVM-compatible layer 2 (L2) solution to the market and is expected to enhance the Meme Ai ecosystem through scalability, security, and smart contract capabilities. Meet MEMEAI CHAIN: scheduled to…
Share this article For Vanguard, cryptocurrency assets such as Bitcoin and Ethereum are “closer to speculation than investments,” and chasing speculative assets will never be the fund’s investment philosophy. no doubt Vanguard speaks constantly. I am opposed to Bitcoin Exchange Traded Funds (ETFs). Ethereum ETF is no exception.Earlier this month, Vanguard reportedly named former BlackRock ETF head Salim Ramji as its next CEO. The switch, scheduled for July, has sparked speculation that the fund will revise its stance on cryptocurrency-related investment products.However, Ramji made it clear that the fund will not subscribe to Bitcoin. ETF and Brokerage platform refuses to…
How Ethereum Could Shard the Web Considering the state of the 25-year-old web and all the problems inherited from legacy 1970s system designs, we should pause and take inventory of the components that are fundamentally broken and could provide a significant return on our development investment. Intersecting these concerns with security, privacy, and censorship resistance, A full-scale attack on the Internet infrastructure is already underway.. As netizens, we have a shared responsibility to explore, utilize, and implement new technologies that benefit creators, not oppressors. Encryption technology initially allowed messages to be protected from prying eyes, but it is increasingly being…