For over 100 years, the U.S. dollar has been the world reserve currency, which means it has been the dominant foreign currency held by central banks to carry out international transactions and settle international debt. Continue Reading on Coin Telegraph More
At the time of writing, PEPE was 5% higher in the last 24 hours at $0.00000117. The recent increase in the PEPE price coincides with immense buying by a crypto whale spotted in recent hours.On-chain analytics provider reports massive whales that have been on a PEPE buying spree.According to the on-chain analytics firm, an anonymous whale, which it refers to as “0x31f5,” spent $250,000 worth of USDC to buy 227 billion PEPE at $0.0000011.Lookonchain adds that this whale has spent a total of 3.25 million USDC to buy 2.81 trillion PEPE tokens, having made nearly $11.47 million on PEPE earlier. It also noted another massive whale, who spent 422 ETH worth $871,000 and another 200,000 USDC to buy 4.23 trillion PEPE from April 19 to April 27.This whale was not an early buyer of PEPE but kept on buying despite declining prices, Lookonchain added.The on-chain analytics firm highlights that this whale has resumed buying PEPE again.At its current price of $0.00000118, the next key barrier for PEPE to squash remains the $0.0000013 level. On the other hand, PEPE might find support near the $0.00000094 level if fresh declines arise.This article was originally published on U.Today More
Whale Alert reports that 4,000,379,151,023 SHIB worth $31,709,005 was transferred from Shiba Staking to Binance.There are a few reasons why coins are sent to exchanges: to sell them, for staking, or to partake in an airdrop. Sometimes exchanges, which are often large holders of coins, can perform wallet reshuffling.The real motive behind the move from Shiba Staking to the Binance wallet remains unknown. The speculation might be to unstake this massive chunk of tokens, a wallet shuffling by a large holder, or even to sell them.Be that as it may, it should be recalled that at the start of the year, on Jan. 10, precisely, Shibburn reported that Binance staked four trillion (4,000,000,000,000) SHIB using ShibaSwap. This way, four trillion SHIB tokens were taken out of circulation.Comments made afterward by a prominent SHIB community member, SHIB BPP, made it known that Binance has always had a whitelisted wallet since the launch of ShibaSwap, allowing them to stake SHIB in the system, claim rewards and distribute rewards to its users.No reference has been made to the four trillion SHIB staked at the time of writing, so the inference made might be speculation.According to a recent update, the U.S. division of Binance will become an exclusively crypto exchange as of June 13 due to pressure from the SEC, which targeted the company with a major enforcement action this week.Binance.US announced in a tweet that it is temporarily switching to an all-crypto exchange but that trading, staking, deposits and withdrawals in cryptocurrency are still fully functional.This article was originally published on U.Today More
As by U.Today when the wallet was first launched, Lace was designed with so much engineering vigor that it is possible to keep custody of both Cardano tokens and non-fungible tokens (NFTs). By putting its code online, developers can now build a similar product that can largely benefit the world.It is an essential time for Cardano to show transparency, considering the current onslaught of the United States Securities and Exchange Commission (SEC) against exchanges, which also Cardano’s native token ADA as a security.While Input Output Global (IOG) has debunked claims from the market regulator, related moves to show its decentralized nature can go a long way to proving it is an utility token should it need to prove itself later on.Cardano remains one of the blockchain outfits that maintains a and with its best efforts going public, the protocol has solidified its mission of contributing to the evolution of the Web3.0 ecosystem.This article was originally published on U.Today More
The draft bill titled, The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem, was first proposed on June 8 and is expected to be discussed during the upcoming committee hearing on June 13. Continue Reading on Coin Telegraph More
Aside from the collection expansion, the firm also announced it had added support for the Polygon Network, highlighting that the popular Reddit Collectible Avatars will now also be supported by the marketplace. Continue Reading on Coin Telegraph More
Burning is a mechanism used on the cryptocurrency market to permanently remove tokens from circulation, thereby reducing the total supply and potentially increasing the scarcity of remaining tokens. While this can theoretically drive up the price of a token, it largely depends on the volume of tokens being burned.Source: Although burn rate has seen considerable growth, the amount being burned is insignificant compared to the total supply of SHIB in circulation. Moreover, the data suggests that merchants are not providing substantial volumes on burn addresses, which leads to the conclusion that the current burn rate is unlikely to have any impact on SHIB’s value.From a price perspective, the situation for is concerning. Despite a spike in network activity, SHIB has been unable to find a source of buying power to catalyze a price bounce. The token currently hovers around $0.000008, remaining in a state of consolidation.The absence of significant buying power and the insignificant volume being burned could hinder any potential price surge for SHIB. For any substantial price movement, a considerable increase in token burning would be required, coupled with a major push in buying power.The SHIB community has long anticipated that the token would follow the path of its inspiration token, Dogecoin, which saw massive price surges earlier this year, and it did — just not in the way everyone expected.This article was originally published on U.Today More
The regulations, signed into law on May 31 after first being introduced in 2020, aim to create a consistent regulatory framework for crypto assets among European Union member states.Continue Reading on Coin Telegraph More
