join us telegram A channel to stay up to date on breaking news coverage Honk’s price has plummeted 35% in the past 24 hours, trading at $0.004224 as of 5:59 AM ET, with trading volume down 19% to $5 million. The sudden price drop is a blow to those who thought HONK, the new Solana meme coin, could be the best performer over Bonk. The Honk community is confident it can bounce back and reach its previous all-time high market capitalization of $25 million. $honk look good. In 25 minutes. You are now sitting 5 meters in front. I’m still…
Author: Crypto Flexs
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Downside pressure on Bitcoin and the broader cryptocurrency market is starting to dry up, which could lead to a more supportive trading environment, according to Coinbase analysts.Coinbase’s weekly market report released on Friday outlined how certain technical factors that were putting downward pressure on Bitcoin in particular and the broader cryptocurrency market have begun to weaken.“Many of the technical factors driving cryptocurrency performance downward are starting to dissipate, which could lead to a more supportive trading environment in the coming weeks,” Coinbase analysts said.According to the report, one significant development that has relieved much of the downward pressure is the…
The Solana-powered Jupiter airdrop has generated significant excitement, driving decentralized exchange (DEX) trading activity on layer-1 blockchain networks beyond Ethereum.According to data from DeFillama, Solana-based DEXs facilitated a total of $1.14 billion in transactions in the past 24 hours, surpassing the roughly $1.13 billion traded on Ethereum-based platforms during the same period.This achievement highlights the incredible growth and widespread adoption witnessed within Solana’s DeFi ecosystem and captures the attention of the cryptocurrency community. In particular, last December, Solana DEX became the first to surpass Ethereum, thanks to increased memecoin and stablecoin activity.While the daily numbers show Solana’s temporary lead, it…
Polkadot, a computing platform known for its interoperability and scalability, saw notable growth in key metrics in late 2023, as detailed in a recent report. report To Mesari. Outpacing Cryptocurrency Market Growth According to Messari’s findings, Polkadot’s circulating market capitalization reached an impressive $8.38 billion, registering an impressive 111% quarter-on-quarter growth. This growth surpassed the 54% growth of the overall cryptocurrency market over the same period. Additionally, Polkadot’s year-over-year (YoY) change reached 94%, solidifying its top position. 15 cryptocurrency projects Based on market capitalization. DOT’s circulating market capitalization reached $11 billion in the fourth quarter of 2023. Source: Messari In…
The cryptocurrency market is currently going through a period of correction and rebalancing due to the declining performance of Solana (SOL). Once a beacon of the burgeoning NFT market and a hub for decentralized trading activity, SOL has experienced a notable decline in both network activity and NFT interest. This slump goes beyond the difficulties of the Solana (SOL) platform. This also opens the door for other emerging altcoins to shine. In this context, new Solana (SOL) competitors are emerging, seeking to take advantage of current market dynamics. In a cryptocurrency market looking for innovative and resilient platforms, these SOL…
Resistance at $0.53 could hinder ADA’s rebound. Cardano’s transaction volume has decreased, but its social dominance has increased. The value of Cardano (ADA) has fallen 18.45% since the beginning of the year, according to CoinMarketCap data. However, AMBCrypto’s assessment of the price tracking platform shows that the price has increased by 3.60% in the last 24 hours. This increase brought ADA back above $0.50. Despite this increase, on-chain data has revealed some interesting things happening on the Cardano network. The first was a 24-hour active address. Activities take a backseat Active addresses increased to 45,000 on February 1, according to…
Open Exchange (OPNX), a Singapore-based cryptocurrency exchange founded by the co-founders of failed cryptocurrency hedge fund Three Arrows Capital (3AC), is scheduled to launch. cease business It has been less than a year since it was founded. OPNX closes due to legal issues OPNX was founded by Zhu Su and Kyle Davies, along with co-founders Mark Lamb and Leslie Lamb, to make a comeback following the collapse and infamous downfall of Three Arrows Capital. Sam Bankman-Fried Cryptocurrency exchange FTX. Mark and Leslie Lamb are also known for their involvement in CoinFlex, a digital asset exchange that filed for restructuring in…
House Financial Services Committee Chairman Patrick McHenry, R-N.C., said he aims to take action to repeal a Securities and Exchange Commission bulletin that sets specific accounting standards for companies that store cryptocurrencies. Sen. Cynthia Lummis (R-Wyo.) and Rep. Mike Flood (R-Neb.) and Wiley Nickel (D-N.C.) introduced the joint bill. solve On Thursday, it blocks the SEC’s Staff Accounting Bulletin No. 121, known as SAB 121. notice board Companies that store cryptocurrency must record their customers’ cryptocurrency holdings as liabilities on their balance sheets. “There is bipartisan agreement that SAB 121 weakens consumer protections and leaves customers’ digital assets vulnerable,” McHenry…
Polygon Labs laid off 19% of its team, reducing operational efficiency. CEO Marc Boiron emphasized the decision to be agile in the blockchain sector. The company also announced a 15% compensation increase and the spin-off of the Polygon ID project. Polygon Labs, the development team behind Polygon, an innovative layer 2 blockchain network, recently announced significant workforce reductions. The company decided to lay off 60 employees, approximately 19% of the team. This decision was highlighted as a strategic move aimed at improving performance and efficiency within the organization rather than being motivated by financial constraints. CEO Marc Boiron emphasized that…
In today’s digital age, the need for a secure and unstoppable cryptocurrency has become more important than ever. As cyberattacks and data breaches increase, people are looking for ways to protect their financial assets from malicious actors. UnbreakableCoin is one cryptocurrency that aims to provide a secure and unbreakable solution to this problem. UnbreakableCoin, also known as UNB, was launched in 2014 and is based on the SHA-256 algorithm, the same algorithm used in Bitcoin. However, UNB has made significant improvements to the original Bitcoin code to enhance security and make it more resistant to attacks. One of UnbreakableCoin’s key…