Binance, the world’s largest cryptocurrency exchange, launched its proof-of-reserves system following the sudden collapse of FTX to restore confidence in Bitcoin exchanges. The exchange has periodically released reserve reports, and it has now published its 20th report. The latest report covers assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), USDT, and several others,
UMA creates self-executing financial contracts using economic incentives. Optimistic Oracle ensures reliable financial transactions and minimizes oracle dependency. Continue Reading: UMA Provides Self-Executing Financial Contracts Using Economic Incentives
Nine of the largest banks in the world are settling a long-running lawsuit that accuses them of conspiring to rig a $465.9 trillion market. Lawyers representing investors have filed for preliminary approval of a $46 million cash settlement against JPMorgan Chase, Bank of America, Goldman Sachs, BNP Paribas, Citigroup, Deutsche Bank, Morgan Stanley, NatWest and The post JPMorgan Chase, Bank of America and 7 Mega Banks Paying $46,000,000 Over Alleged Conspiracy To Rig Trillion-Dollar Derivatives Market appeared first on The Daily Hodl .
Hamster Kombat, a Telegram-based game, is experiencing unparalleled growth since its inception. The game’s rapid success marks it as a significant contender in the crypto world. Pavel Durov, Telegram’s founder, shares intriguing statistics about Hamster Kombat’s achievements. Explore the rapid rise of Hamster Kombat and its potential impact on the crypto and gaming landscapes. Hamster
Binance, the world's largest cryptocurrency exchange, published its 20th proof of reserve report. Here are Ethereum and other altcoins held by the exchange. Continue Reading: Binance Published Its Latest Reserve Report: Here is the Amount of Bitcoin (BTC), ETH, XRP, BNB, SOL and DOGE in Hand!
Donald Verrilli, U.S. solicitor general during Barack Obama’s era and Grayscale’s top legal strategist, has accused federal regulators of trying to debank crypto. Donald made his accusations in an amicus brief alongside Paul Clement, who was the solicitor general during George W. Bush’s era. In the amicus brief, Donald and Paul represent Blockchain Association in
Polkadot (DOT) has seen a significant price increase of 9.73% in the last 24 hours, marking a surprising reversal after a period of decline. Heightened whale activity and large-scale transactions have drawn the attention of the crypto community, influencing the altcoin’s price movements. Noteworthy events include a 33% rise in large transactions as well as
The legendary trader, Peter Schiff, has criticized Bitcoin (BTC) enthusiasts and the broader crypto market amid the recent downturn in asset prices. Schiff challenged the prevailing belief regarding institutional demand, suggesting that the downtrend could have been mitigated despite macroeconomic and industry-specific factors. Institutional demand has been a significant talking point in the crypto market
DOT may be in a better position right now than you might think!
Dogwifhat, the once-high-flying Solana-based meme coin, suffered a brutal week, mirroring a broader crypto market correction and raising questions about the sustainability of the meme coin craze. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge Meme Coin Mania Meets Market Mayhem WIF, the token powering Dogwifhat, saw its price plummet 15% in just 24 hours. This dramatic drop erased all the gains from a recent rebound rally. The sell-off wasn’t isolated to Dogwifhat; the entire crypto market experienced a double-digit tumble, with major altcoins like Ethereum and Cardano feeling the heat. Analysts point to a combination of factors behind the downturn, including renewed concerns about inflation and a recent sell-off by the German government and Mt. Gox, a defunct cryptocurrency exchange. The price of $WIF dropped 15% as the market fell. A whale deposited 900K $WIF($1.64M) to #Bybit 10 hours ago, leaving 974K $WIF($1.76M).https://t.co/qJwlxcWy15 pic.twitter.com/amIkvwKfNG — Lookonchain (@lookonchain) July 4, 2024 The pain for Dogwifhat was further amplified by a whale of a different kind: a large investor. LookOnChain, a blockchain whale tracking agency, identified a major Solana whale dumping 900,000 WIF tokens in a series of transactions. This fire sale, amounting to roughly $1.64 million, undoubtedly contributed to the downward spiral. Dogfight On Derivatives: Bulls Trampled, Bears Feast While the Spot market witnessed a bloodbath, the WIF derivatives market displayed a curious mix of activity. Trading volume surged by a surprising 25%, propelling Dogwifhat to the coveted title of third most-demanded meme coin behind Dogecoin and Pepe Token. This surge in volume might suggest increased interest, but a closer look reveals a different story. Lurking beneath the surface was a brutal battle between bullish and bearish investors. More than $3 million in WIF positions were liquidated in the last 24 hours. This liquidation primarily targeted long positions, meaning investors who bet on the price going up were forced to sell at a loss as the price plummeted. While some might see the increased volume as a sign of potential revival, the liquidation figures paint a starker picture – many bulls got trampled by the bears feasting on the market downturn. A Buying Opportunity Or A Boneheaded Move? Despite the carnage, not everyone has lost faith in Dogwifhat. The plummeting price has attracted some opportunistic “Solana whales” who view the current price as an attractive entry point. This glimmer of hope hinges on the possibility that Dogwifhat can recapture its past glory. Related Reading: Buy The Dip? XRP Whales Doing Exactly That – Is A Price Rally Next? In Q1 2024, Dogwifhat was a meme coin darling, riding the wave of the meme coin craze to a $4 billion market cap and a place in the top 30 global crypto rankings. However, the recent downturn serves as a stark reminder of the inherent volatility of meme coins, which often lack the utility or strong fundamentals of established cryptocurrencies. The future of Dogwifhat remains uncertain. Whether it can claw its way back from the doghouse or fade into obscurity depends on several factors, including broader market trends, community support, and potential developments within the Dogwifhat ecosystem. Featured image from Shutterstock, chart from TradingView