The digital asset sector has seen a notable surge, with total assets under management (AUM) increasing 27% to $65.67 billion in February 2024. This significant growth may be the result of a combination of factors, including positive momentum in the Bitcoin price and increased adoption of Bitcoin spot ETFs in the United States. Read CCData’s full report here. TLDR The digital assets sector’s total assets under management (AUM) increased 27% in February 2024, reaching $65.67 billion. Average daily total trading volume also increased 14.85% to $1.86 billion, indicating continued interest from investors. The United States solidified its lead in digital…
Author: Crypto Flexs
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Hong Kong’s Securities and Futures Commission (SFC) has cracked down on fake websites pretending to be licensed cryptocurrency exchanges in the region. Regulators have identified and blocked several suspicious websites impersonating major local cryptocurrency trading platforms.Target exchanges and websitesThe SFC’s action targeted websites impersonating OSL Digital Securities and Hash Blockchain Limited (HashKey), two cryptocurrency trading platforms licensed in Hong Kong. The fake domains included hskexpro.com, hskex.com, hskexs.com, hskexit.com, oslexu.com, and oslint.com. These websites have been used by online perpetrators to trick users and possibly engage in fraudulent activities.A warning to investorsThe SFC warned investors to be cautious and check the…
Bitdeer launches SEAL01, a 4nm Bitcoin mining chip that promises high efficiency and sustainability in the face of the challenges of Bitcoin halving in 2024. Bitdeer announced the successful testing of its latest innovation, the SEAL01 Bitcoin mining chip. Leveraging advanced 4-nanometer process technology, this chip represents a significant leap forward in mining efficiency and sustainability. The SEAL01 chip was developed by Bitdeer (NASDAQ: BTDR), a company known for its contributions to blockchain and high-performance computing. In its quest to improve Bitcoin mining performance, the chip demonstrated an impressive power efficiency ratio of 18.1 J/TH during testing. These impressive figures…
ETF trading volume is surging, Bitcoin is in the top 10, and Binance is facing a $10 billion fine in Nigeria. Or maybe it is? This week we bring you these stories and more in cryptocurrency. Cryptocurrency volatility is back A sudden influx of short-term options buyers after Bitcoin’s price surged 20% has pushed Bitcoin’s volatility to its highest since last year, which could lead to rapid and significant swings. Leverage has also reemerged in various cryptocurrency sectors, including NFTs, mining, and DeFi. Bitcoin derivatives open interest has increased 90% since October. Bitcoin Enters Top 10 Assets The massive rebound…
Blum, a cryptocurrency trading app that integrates CEX and DEX facilities for a new trading experience, recorded over 50,000 signups in the first 48 hours of launch. A group of Binance alumni have announced a hybrid cryptocurrency exchange aimed at introducing an improved trading experience to both new digital entrants and veterans. The platform is in its 7th cohort, backed by Binance Labs, and was selected as one of 13 protocols out of over 700 projects from around the world. DeFi: @bitu_protocol, @blumcrypto, @surf_protocol, @vooi_io infra: @Aggredata_xyz, @nesaorg, @Nimble_NetworkApplication layer: @aspecta_id, @Holoworld AI, @opinionlabsxyz, @SideQuestWeb3, @StoryChain_ai, @tiltedstore— Binance Labs Fund…
Memecoin market capitalization has increased by more than 17% in the last 24 hours, significantly outperforming the rest of the cryptocurrency market, which has gained more than 4% over the same period. According to CoinGecko data, Mimcoin’s current market capitalization is $53.3 billion. A recent QCP Capital Markets report suggested that the ‘speculative buying frenzy’ that emerged during Monday’s Asian trading session could spur prices higher. “Altcoins, especially memecoins, are now rallying hard as retail FOMO really sets in,” the report said. QCP Capital analysts noted an increase in leverage buyer activity over the past 24 hours. However, they added…
Bernstein points out that six of the top ten revenue-generating protocols are DeFI applications. These include Uniswap, Aave, Maker, GMX, Synthetix, and Sushi. “The last cycle of DeFi was the collapse of the unsustainable yield game,” the author wrote, adding that the epitome of unsustainable DeFi is the Luna stablecoin. folded. all stablecoin It is a type of cryptocurrency that is usually pegged to the US dollar. DeFi is an umbrella term that refers to a variety of financial applications of cryptocurrencies or blockchains aimed at disrupting financial intermediaries. What’s different about this cycle is that the returns are realistic…
As cryptocurrencies, stablecoins, and non-fungible tokens (NFTs) grow in popularity, the IRS is trying to keep up by tightening tax regulations on cryptocurrencies. Considering the complexity and ongoing nature of the digital asset space, the IRS recently announced the appointment of two private sector experts, Raj Mukherjee and Wilks, to its Civil Service team. These actions signal the IRS’s commitment to strengthening compliance, enforcement, reporting, and services related to cryptocurrencies. The inclusion of Mukherjee and Wilks on the IRS team is both a simple personnel operation and a strategic improvement in IRS digital asset capabilities. The individual brings knowledge of…
Innovative DeeStream (DST) has become the latest company to stake a claim in the cryptocurrency space by securing one of Shiba Inu’s (SHIB) majority shareholders. DeeStream (DST) is launching a project with Tron (TRX), which many investors already own because they see growth. But now DeeStream (DST) is introducing something new with its decentralized video streaming platform. We provide the latest information on Shiba Inu (SHIB), Tron (TRX), and DeeStream (DST), detailing what each of them has been able to achieve in the rapidly changing blockchain ecosystem landscape. Shiba Inu (SHIB): Riding the wave of market momentum Shiba Inu (SHIB)…
Binance Earn marks a new milestone in user rewards by confirming support for the upcoming PIXEL airdrop targeting users holding RONIN-locked products. In a significant development for cryptocurrency enthusiasts and investors, Binance Earn has officially announced support for the Pixels (PIXEL) airdrop for eligible users of its RONIN locked product. This move represents Binance’s ongoing efforts to reward its user base and foster the growth of the digital asset ecosystem. Snapshot and deployment details PIXEL airdrops are structured to reward users based on their total RONIN-locked product subscription amount at the time of the snapshot. The snapshot, which is important…