Cryptocurrency

Specifically, one Bitcoin whale transferred a total of 1,500 BTC ($55,911,311) from a Bitfinex-linked account to another wallet on the exchange. Besides this particular transaction, the crypto market was spooked yesterday when a Bitcoin trader paid over $3 million in fees for a single transaction. As by U.Today, the whale intended to send 139.42495946 BTC worth $5.23 million but ended up getting just 55.76998378 BTC valued at $2,065,213.25. Whale Alert’s insights pointed out two distinct XRP transactions. The first involves the transfer of 25,200,000 XRP worth $15,665,402, and the other includes the movement of 25,000,000 XRP worth $15,553,036. Both transactions saw the movement of the funds to trading platforms Bitstamp and Bitso respectively, suggesting some sell-off of the assets is possible.For this particular transaction, the amount involved is small in relation to the actual liquidity both cryptocurrencies boast of and, as such, cannot impact their price in any significant way.Bitcoin, at the time of writing, is changing hands at a price of $37,479.62, up 0.85% overnight, while by over 2% to $0.6211. With this outlook, there is proof that the whale movements are not threatening the market balance for both assets.This article was originally published on U.Today More

The Blast team responded to the criticism from its own X (formerly Twitter) account, but without directly referring to Watts’ thread. In its own thread, Blast claimed that the network is as decentralized as other layer 2s, including Optimism, Arbitrum and Polygon.Continue Reading on Cointelegraph More

The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite money glitch.” With the exploit, the attackers tricked the platform’s smart contract into believing it had more liquidity available than it did. Continue Reading on Cointelegraph More

According to the analysis from Layergg, Binance’s decision could set a trend for other futures-exclusive tokens to make similar leaps. The inclusion of BLUR as a spot pair is seen as a pioneering step, which might encourage the addition of various altcoins such as PYTH, BONK, EYEBROW, TOKEN, BSV, ORBS, and BIGTIME. These tokens are noted for their volatility in the cryptocurrency markets.One particular token that analysts are watching closely is Bitcoin SV (BSV). It stands out due to its origins from a Bitcoin hardfork and its association with Craig Wright. The expansion of Binance’s offerings reflects the dynamic nature of the crypto market and the growing interest in a wider array of digital assets among traders.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The resurgence of Coinbase’s stock value echoes the company’s performance before May 2022, prior to the market downturn triggered by the collapse of Terra’s algorithmic stablecoins and its LUNA cryptocurrency. Since its initial public offering in 2021, COIN’s valuation had been impacted by the bearish sentiment that swept through the crypto space following that event.Coinbase’s recent price surge can be attributed in part to its strategic partnerships with heavyweight financial institutions such as BlackRock (NYSE:BLK) and Fidelity. These collaborations are focused on providing custody services for the firms’ anticipated Bitcoin exchange-traded funds (ETFs). These ETFs are designed to offer traditional investors a way to engage with the crypto economy by investing in shares that track the value of Bitcoin. The proposed ETFs are currently under review by the U.S. Securities and Exchange Commission (SEC).Investor enthusiasm around these developments has been palpable, as partnerships with established financial entities like BlackRock and Fidelity lend credibility to Coinbase’s offerings and by extension, to the crypto market. This has contributed to bolstering investor confidence and has likely played a role in the uptick of COIN’s stock price.The broader cryptocurrency market has also experienced a significant uplift, suggesting a renewed investor interest in digital assets. The performance of major cryptocurrencies such as Bitcoin and Ethereum is often seen as an indicator of the market’s overall health and sentiment, which currently appears to be on an upward trajectory.As the SEC continues to review the proposed Bitcoin ETFs, the outcome will be closely watched by investors and could have further implications for Coinbase’s stock performance and the wider cryptocurrency market.Coinbase’s stock (NASDAQ:COIN) has been the subject of intense investor interest as reflected in its recent price surge, with the company trading near its 52-week high. According to InvestingPro data, COIN has achieved a remarkable one-week price total return of 16.65% and an even more impressive six-month price total return of 97.98%. These figures underscore the stock’s strong performance in the short term, which aligns with the broader recovery in the cryptocurrency market.InvestingPro Tips highlight that three analysts have revised their earnings upwards for the upcoming period, indicating a potential positive outlook on the company’s financial performance. However, it’s important to note that analysts do not anticipate the company will be profitable this year, and the stock is currently trading at a high Price / Book multiple of 4.67.For investors seeking a deeper analysis, there are additional InvestingPro Tips available that provide further insight into Coinbase’s stock performance and potential trajectory. With the InvestingPro subscription now on a special Black Friday sale offering a discount of up to 55%, subscribers can access a wealth of information, including over ten additional tips that could guide investment decisions in this dynamic sector.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

However, CZ wasn’t just the brain behind Binance — he might be the most important player in the whole crypto game. As such, his downfall represents more than just a personal setback; it’s another blow to the cryptocurrency industry’s global image and credibility. Continue Reading on Cointelegraph More

A notable trader has staked an amount equivalent to $7.3 million, aligning with expectations of substantial returns from the platform’s evolving reward program. BLUR, which was originally launched by OpenSea in October 2022, operates on an incentive-based transaction system and has announced plans for a revamp across three seasons. This includes integration with new “blast” networks and an exclusive “Redacted” member airdrop set for late 2024, following Blast’s $20 million funding milestone.The recent surge in the BLUR token’s value can be partly attributed to the marketplace’s innovative approach to user incentives. For example, during Season 2, a JPEG flipper notably benefited from these incentives, as reported by Dune dashboard data. Additionally, the Ethereum layer-2 network Blast has raised $20 million from investors like Paradigm and Standard Crypto. This funding will enable depositors to earn native yields on cryptocurrencies, promising that they will receive half of the forthcoming season’s airdrop rewards by staking BLUR tokens.The marketplace’s success is also reflected in its volume outpacing that of OpenSea since February. As part of its Season 2 rewards, the marketplace distributed 300 million BLUR tokens to users. Among the recipients was Hanwe’s hanwe.eth wallet, which received one of the largest single claims at 22.85 million tokens—valued at about $14 million post-surge.BLUR has also revised its compensation scheme to require participants to take half their rewards in BLUR tokens, ensuring deeper integration with the platform’s ecosystem and aligning users’ interests with the long-term success of the token.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The major catalysts for next year is the Bitcoin halving in April and applications for a spot Bitcoin exchange-traded fund, some of which have a deadline for a decision in January. With two main events on the horizon, Bitcoin is likely to find buyers on dips.Continue Reading on Cointelegraph More