Despite the overall market downturn, five tokens, including MEME and ORDI, maintained their value even in a difficult environment. Binance, the world’s leading cryptocurrency exchange in terms of trading volume, is facing significant challenges. A recent study by cryptocurrency researcher Flow found that more than 80% of tokens added to the platform in the past six months have seen their value decline significantly since their initial offering. Photo: Flow According to Flow, only five of the 31 tokens studied retained their value. These five tokens are Memecoin (MEME), Ordi (ORDI), The Jupiter (JUP) token Solana-based Jito (JTO), and the uniquely…
Author: Crypto Flexs
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Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. As we travel this year to 2024, three cryptocurrencies have captured the attention of newcomers and experienced traders alike: Rollblock (RBLK), Binance Coin (BNB), and Avalanche (AVAX). While BNB and AVAX are well-known altcoins, RBLK is a second-tier pre-sale star that many analysts suggest could surge as much as 50x in 2024. Let’s see why. Roll Block (RBLK) Rollblock (RBLK) is our first choice in our list of best altcoins thanks to its connection to the online gambling market.…
join us telegram A channel to stay up to date on breaking news coverage Meme coins are gaining popularity, with their overall market cap increasing 5.71% to $56.1 billion at the time of writing, highlighting their growing appeal. Meme coins have captured the attention of investors due to their potential for exponential returns, sometimes achieving 100x returns in a short period of time. This surge in interest is driven by the vibrant communities and viral marketing strategies that come with these digital assets. Although they are considered highly speculative and volatile, the allure of significant profits continues to attract a…
Bankrupt cryptocurrency lender Genesis Global has received court approval to return approximately $3 billion in cash and cryptocurrency to creditors. Due to this decision, the parent company, Digital Currency Group (DCG), will not be able to recover from bankruptcy.Judge Sean Lane approved Genesis’ Chapter 11 repayment plan on Friday, May 17. The ruling clears the way for Genesis to lift the freeze and return customer assets that have been locked up since the company suspended withdrawals in November 2022 following the collapse of several major cryptocurrency companies.But Lane dismissed an objection filed by DCG, which argued that Genesis should pay…
Cryptocurrency exchange Coinbase believes there is a 30% to 40% chance that the SEC will approve a spot Ethereum ETF by the end of this month.In a May 15 report, Coinbase institutional research analyst David Han argued that the key factors leading to the SEC approving a spot Bitcoin ETF were: — Correlation between CME futures products and spot rates — We may end up approving a spot Ethereum ETF.“There is room for surprise on the positive side of this decision,” Han said, both in prediction markets and the fact that the Grayscale Ethereum Trust is trading at a 24%…
60 cryptocurrency organizations are supporting the market rescue bill ahead of a vote next week.The signatories, led by the Crypto Council for Innovation, urged House members to pass the bill in a letter sent Thursday to Speaker Mike Johnson and House Minority Leader Hakeem Jeffries. . FIT21 poses “new compliance challenges” for cryptocurrency companies, but clear rules are needed, the group said.“Currently, digital asset companies are told to somehow comply with U.S. securities laws enacted nearly 100 years ago without taking into account today’s technological advancements, including the ability for transactions to move at internet speeds.” letter.House lawmakers are expected…
Ethereum (ETH) rival Fantom (FTM) has surged in price this week, outpacing the broader cryptocurrency market thanks to a new upgrade. FTM is trading around $0.801 at the time of this writing. The 55th-largest cryptocurrency asset by market capitalization is up nearly 5.5% in the last 24 hours and more than 15% in the past week. In comparison, the overall cryptocurrency market cap is down 1.5% over the past 24 hours and up about 5% over the past 7 days. Validator on the Fantom Opera mainnet Upgrade has started Their nodes are scheduled to be powered by the project’s new…
MakerDAO, the decentralized autonomous organization that created the Dai stablecoin, has announced its intention to launch a new stablecoin called PureDai. This step is intended to provide a fully decentralized alternative to Dai, which now relies on a combination of centralized and decentralized alternative collateral. This is expected to happen within the next few years. Transition to complete decentralization PureDai’s goals were first laid out by Rune Christensen, CEO and co-founder of MakerDAO. The difference when using PureDai is that it only accepts decentralized assets like Ethereum as collateral. This is the main difference between PureDai and Dai, which are…
Magic Square has launched Magic Launchpad, a new platform designed to transform how early-stage Web3 projects raise funding and grow their communities. With support from Binance Labs, Magic Square already boasts over 4.5 million users and over 1,400 registered projects. The launch of Magic Launchpad promises to provide a strategic multi-chain funding solution that emphasizes project quality and transparency. Magic Launchpad stands out for its modular, multi-chain structure. Projects undergo a rigorous application process to ensure that only high-quality initiatives benefit from the platform’s capabilities. This rigorous screening process not only benefits projects but also provides users with fair access…
In a significant move to enhance the use of digital currencies, Hong Kong residents can now set up personal digital yuan or e-CNY wallets, as announced by the Hong Kong Monetary Authority (HKMA). This development, part of a collaboration with the People’s Bank of China (PBoC), marks a milestone in “facilitating” cross-border transactions between Hong Kong and mainland China. The introduction of this wallet is expected to expand the use of China’s digital yuan (e-CNY), enabling more systematic and direct payments without the need for a mainland bank account. Expanding use of digital yuan The HKMA said the plan aims…