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BNB Drops Below 570 USDT with a Narrowed 0.81% Increase in 24 Hours

On Apr 21, 2024, 16:36 PM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.5 USDT, with a narrowed 0.81% increase in 24 hours.
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Adidas Continues Metaverse Involvement Despite Industry Setbacks

According to Blockworks, while many legacy firms have withdrawn from their Web3 and metaverse projects due to stagnating interest, Adidas remains committed to its metaverse initiatives. The global sports brand recently announced a long-term collaboration with the move-to-earn app, STEPN. The partnership has so far resulted in the launch of 1,000 generative Solana-based NFTs of Adidas sneakers. To use the STEPN app, which rewards users' movement with GMT and GST tokens, users must possess a sneaker NFT. The Adidas NFTs were sold this week for 10,000 GMT each, approximately $2400 at current rates. In addition to the STEPN collaboration, Adidas also participated in the Web3 online survival game show, Crypto The Game, where users could bid on Adidas-branded tracksuits in an immunity challenge. The global head of Web3 strategy at Adidas is Evgeniy Medvedev, who previously worked in business development at NFT company Rarible. In other news, Justin Sun, the founder of TRON, has released a track in collaboration with renowned film score composer Hans Zimmer. The track, described as a 'song for the Web3 generation', was released on YouTube by TRON. Sun, who stepped down as CEO of TRON in 2021, is currently facing legal issues with the Securities and Exchange Commission pursuing charges against him for 'fraud and other securities law violations'. Finally, it's worth noting that NFTs will be excluded from PayPal's Purchase Protection Program from May 20, following a policy change. The popular NFT platform Magic Eden is set to partner with layer-2 Base on April 25. Crypto The Game concluded with a single survivor winning 80 ether, amidst some controversy.
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Crypto Funding Week Sees Deals in Real-World Assets

According to Blockworks, the past week in crypto funding saw significant deals in real-world assets, despite the industry bracing for the fourth Bitcoin halving. Real-world assets refer to off-chain goods such as real estate or US Treasurys that are tokenized. Centrifuge, a platform for generalist real-world assets, raised $15 million in a round co-led by ParaFi Capital and Greenfield. This follows $7 million in strategic capital raised by Centrifuge throughout 2022. Centrifuge facilitates pools of tokenized real-world assets (RWAs), including loans, credit, and real estate. These pools are specifically designed to manage RWA liquidity pools, which are assets locked in a smart contract to support a liquid market for these RWAs. Centrifuge tokenizes assets by creating NFTs that embed links to detailed off-chain data, leveraging blockchain technology to ensure transparency and accessibility while securing sensitive data off-chain. Centrifuge has also explored launching RWA liquidity pools on other chains, including Arbitrum and Base. The platform currently holds $285 million worth of assets in its liquidity pools, a figure that has seen a significant increase from around $80 million at the end of 2022. With the new funding, Centrifuge plans to grow the team, invest in product development, and support the broader tokenization ecosystem education and growth, according to co-founder Lucas Vogelsang. In other news, Homium, a tokenized real estate platform, raised a $10 million Series A to put home equity loans on the Avalanche blockchain. The round was led by University of Utah-linked Sorenson Impact Group and Avalanche’s “Blizzard” ecosystem fund. Homium offers homeowners “shared appreciation” loans that are pooled with other loans and converted to a tokenized security. The product aims to provide tokenized access to home appreciation at scale. Currently, Homium’s loans are only available in Colorado. RWA Inc, a company focusing on fractional assets, announced a $1.175 million private funding round this week. Meanwhile, Puffer, a liquid restaking protocol, announced $18 million in Series A funding. The round was co-led by Brevan Howard Digital and Electric Capital. Puffer is rolling out a pufETH liquid restaking token that aims to offer holders exposure to yield from Ethereum staking and EigenLayer restaking. The protocol is not yet in mainnet. Puffer is the third-largest liquid restaking protocol by total value locked (TVL) behind ether.fi and Renzo, according to DeFiLlama.
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Emerging Ransomware Group Akira Targets Global Organizations, Amasses $42M in Ransom

According to CryptoPotato, a newly-emerged ransomware group named Akira has been flagged by prominent global agencies for its widespread cyber intrusions. The group, believed to be just a year old, has breached over 250 organizations worldwide, accumulating nearly $42 million in ransom payments. Investigations by the United States Federal Bureau of Investigation (FBI) have shown that Akira has been actively targeting businesses and critical infrastructure across North America, Europe, and Australia since March 2023. Initially, Akira focused on Windows systems, but its threat landscape expanded with the discovery of its Linux variant by the FBI. In response to this escalating threat, the FBI, Cybersecurity and Infrastructure Security Agency (CISA), Europol’s European Cybercrime Centre (EC3), and the Netherlands’ National Cyber Security Centre (NCSC-NL) jointly issued a cybersecurity advisory (CSA) to raise awareness and mitigate the risks posed by Akira in the future. The group has recently targeted Nissan Oceania and Stanford University in ransomware attacks. Nissan Oceania reported a data breach affecting 100,000 individuals in March, and Stanford University disclosed a security issue affecting 27,000 individuals last month, both incidents linked to Akira. The threat actors are known to use a double-extortion tactic, encrypting systems after taking data. The ransom note gives each company a unique code and a .onion URL to contact them. They don’t ask for ransom or payment details on the hacked networks; they only share them when contacted by the victim. Payments are in Bitcoin to the addresses they provide. These entities even threaten to publish stolen data on the Tor network and sometimes reach out to affected companies, according to the FBI’s official statement. Ransomware made a comeback in 2023, with payments surpassing $1 billion, marking an all-time high. Centralized exchanges and mixers emerged as primary venues for laundering these illicit funds, dominating transaction channels. Despite this, newer laundering services like bridges and instant exchangers gained momentum throughout the year.
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Meta's Diem Project Continues to Influence Stablecoin Regulation

According to Bloomberg, the introduction of Meta Platforms Inc.'s Diem project, formerly known as Libra, in 2019 caused significant concern among finance officials. The project, a US-dollar stablecoin, was the first significant challenge to central bank money from digital assets. It was met with immediate and sustained criticism from global authorities until its eventual discontinuation. Diem was intended to revolutionize digital payments, but bank officials saw it as a tech company with the power to issue new money to a large user base, potentially leading to an excessive concentration of economic power. Today, the stablecoin world is in transition, with regulators still focused on preventing a future threat similar to Diem. They are often influenced by their past experiences when forming new regulations. Despite the role regulators see stablecoins playing, they require thoughtful regulation, focusing on the right risks and not allowing past reactions to Libra to unduly influence their approach. Meta's lasting impact is evident in early consultations on stablecoin regulation by the European Banking Authority, which is set to oversee the sector from July. Additionally, regulators like the Financial Stability Board, the Bank of International Settlements, and the Bank of England continue to express concerns about the potential impact of Big Tech entering the stablecoin space. Sarah Breeden, the BoE’s deputy governor, mentioned the possibility of stablecoins being used at scale for retail payments, citing PayPal’s PYUSD, which launched last August, as a clear example. Other stablecoin projects are also on the horizon, with initiatives coming from Deutsche Bank’s DWS, Galaxy Digital, and Ripple Labs.
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Binance Market Update (2024-04-21)

The global cryptocurrency market cap now stands at $2.32T, down by -1.15% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $63,277 and $65,696 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $64,916, up by 2.05%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include REI, BONK, and AKRO, up by 43%, 42%, and 28%, respectively. Top stories of the day: Tether CEO Announces Breakthrough Of 35 Million USDT Issued On TON  Bitcoin's Fourth Quantitative Hardening Arrives, CEO Samson Mow Announces  Anthony Scaramucci Forecasts Potential Bitcoin Valuation Increase  Significant Uptick In Shiba Inu Token Movement Sparks Speculation  Ripple CTO Highlights XRP's 1,500% Growth Over Seven Years  Bitcoin Founder Missed Opportunity To Align Halving With April 20, Says Investor  Mt.Gox Claimants Notice Update In Claim Form, Indicating Progress Towards Bitcoin Payments  Cryptocurrency Market Witnesses Liquidation Worth $113 Million in 24 Hours  Bitcoin Miners' Revenue Hits Historic High  Solana Open-Source Trading Bot Users Warned About Backdoor Code Market movers: ETH: $3171.6 (+4.15%) BNB: $580.5 (+4.16%) SOL: $151.75 (+6.93%) XRP: $0.5323 (+2.74%) DOGE: $0.16207 (+6.32%) ADA: $0.5025 (+3.27%) SHIB: $0.00002693 (+17.65%) AVAX: $37.75 (+6.10%) DOT: $7.184 (+6.01%) WBTC: $65056.71 (+2.24%) Top gainers on Binance: REI/USDT (+43%) BONK/USDT (+42%) AKRO/USDT (+28%)
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Bitcoin's Fourth Quantitative Hardening Arrives, CEO Samson Mow Announces

According to U.Today, Samson Mow, the former Chief Security Officer at Blockstream and current CEO at Bitcoin-adoption company Jan3, has announced the arrival of the much-anticipated fourth Bitcoin halving, which he refers to as the '4th Bitcoin quantitative hardening.' This term is used in contrast to the quantitative easing frequently implemented by the U.S. Federal Reserve, which involves injecting billions of dollars into the economy, a move that many experts believe is causing the U.S. dollar to devalue. Experts suggest that these quantitative easing measures were a significant factor in driving the Bitcoin price above $61,500 in April 2021 and then to an all-time high of $69,000 in November of the same year. In 2024, Bitcoin reached a new historic price peak of $73,750 in March, before the halving, a first for the cryptocurrency. Halving events reduce the number of new Bitcoins entering circulation as miners' block rewards. Following this halving, the rewards were cut from 6.25 BTC to 3.125 BTC, where they will remain for the next four years until the fifth halving. Mow commented on this aspect of the halving, stating that any Bitcoin owned before this moment is now twice as hard for miners to procure for the market. At the time of writing, Bitcoin is trading at $63,913. Mow also noted that Bitcoin continues to outperform gold, its physical rival traditionally considered a store of value. After the halving, Bitcoin's inflation rate will drop to 0.9%, while gold's will remain at 1.4%. As Anthony Pompliano stated in a recent CNBC interview, those who have held gold over the past five years have lost purchasing power, unlike Bitcoin holders.
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Anthony Scaramucci Forecasts Potential Bitcoin Valuation Increase

According to U.Today, renowned investor Anthony Scaramucci has recently shared his perspective on the future price of Bitcoin in relation to the halving event that took place last Friday. During his latest appearance on Wealthion, Scaramucci, a long-standing advocate for cryptocurrency, emphasized the substantial demand for Bitcoin. This demand is largely driven by investors purchasing into ETFs such as BlackRock and Kathy Wood's funds, while the network only generates 450 coins daily. Scaramucci noted that this demand often leads to a surge in prices. However, following the halving event, prices usually drop. He explained that this is due to many short-term Bitcoin holders selling after making profits, while new investors enter the market. Scaramucci stressed his personal strategy of holding Bitcoin for the long term, regardless of price fluctuations. He cited Bitcoin's robust performance over the past 14 years as proof of its value. Scaramucci advised against viewing Bitcoin as a lottery ticket due to its volatility. Instead, he encouraged people to invest in it to become part of the revolution. He suggested starting with a small investment to understand Bitcoin's technical properties and experience the thrill of being involved in the cryptocurrency space. Previously, Scaramucci expressed his views on the future price of Bitcoin. He anticipates a potential valuation increase of up to 10 times from the current level, which could reach $6-8 million. Despite this optimistic forecast, Scaramucci stated that Bitcoin is currently neither a strong inflation hedge nor a fully established store of value. He attributed this to the relatively low global adoption of the coin, suggesting that significant changes would not occur until Bitcoin attracts at least a billion users, a milestone he expects around 2026.
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Significant Uptick In Shiba Inu Token Movement Sparks Speculation

According to U.Today, a significant increase in the movement of SHIB tokens has been observed in the last 24 hours, with a total of 4.34 trillion SHIB tokens changing hands. This represents a substantial rise in large transactions within the Shiba Inu ecosystem, leading to speculation and anticipation. Recent data indicates a 215% increase in whale activity, with inflows of 4.34 trillion SHIB on April 19, a significant rise from 565.55 billion SHIB on April 17. The Shiba Inu ecosystem is also experiencing an increase in the volume of large transactions, those worth more than $100,000, which is up by 58.48%. This surge is primarily due to an increase in the accumulation of SHIB tokens by large holders, known as whales, who have significantly increased their stakes in the cryptocurrency. The inflow of 4.34 trillion SHIB tokens might suggest a concerted effort by whales to bolster their positions in anticipation of future price movements or strategic maneuvers within the market. The exact motives behind the surge in whale activity remain speculative, but several factors may have contributed to this phenomenon. These could include market trends, upcoming developments within the Shiba Inu ecosystem, or favorable use cases. The recent volatility and price fluctuations in the cryptocurrency market may have prompted whales to increase their exposure to SHIB tokens in pursuit of potential gains. At the time of writing, SHIB was down 1.18% in the last 24 hours to $0.0000227. With a market capitalization of $13.42 billion, SHIB sits in the 11th spot of the crypto rankings, with a seeming readiness to reenter the top 10. The cryptocurrency community is closely monitoring the actions of Shiba Inu whales. Whether this inflow spike will lead to a sustained increase in SHIB's value or merely a temporary fluctuation remains to be seen. However, one thing is certain: The movement of 4.34 trillion SHIB has put attention on Shiba Inu.
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Bitcoin Halving Event Sparks Debate Over Future Trajectory

According to U.Today, the Bitcoin community recently celebrated the completion of another halving event. This software update, which took effect at 8:10 p.m. Friday, New York time, reduces the reward for mining new blocks by half. Many view this event as a bullish signal for the cryptocurrency's value. However, Bitcoin critic Peter Schiff offers a contrasting perspective. Schiff, a long-time skeptic of Bitcoin and advocate for gold, warns that the halving may not necessarily lead to the anticipated price increase. He suggests that Bitcoin holders may experience a 'halving' of their net worth, implying a potential price drop. Schiff expressed his views via a tweet, 'Congratulations, Bitcoiners, on the Halving. Are you guys commemorating this occasion by throwing parties tonight? I haven't been invited to any. I think halving is an appropriate name for what's happening as soon Bitcoin hodlers experience a halving of their net worths.' As Bitcoin enters a new phase following the completion of its latest halving event, the debate over its future trajectory continues. Before the halving event, on-chain analytics firm IntoTheBlock highlighted the trend of BTC price performance following each Bitcoin halving. They noted that a bullish trend often emerges and lasts about a year. Additionally, miners' BTC holdings reached a 12-year low, suggesting that miners had been net sellers before the halving. Meanwhile, Bitcoin whales, who own more than 0.1% of the total supply, added 19,760 Bitcoins to their holdings at an average price of $62,500 on April 18. Historically, accumulations by these addresses have frequently foreshadowed increases in Bitcoin's price. At the time of writing, Bitcoin was trading down 2.17% in the last 24 hours to $63,738 as investors took profits following the halving event.
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Ripple CTO Highlights XRP's 1,500% Growth Over Seven Years

According to U.Today, Ripple's Chief Technology Officer, David Schwartz, recently emphasized the 1,500% growth of XRP over the past seven years. This statement was made in response to a user who alleged a loss on their seven-year XRP holding. Schwartz countered by stating that XRP was trading at approximately $0.033 seven years ago. If an investor had retained their XRP assets over this period, they would have seen a growth of 1,500%, equating to an annual percentage yield of 47%. The user's claim of purchasing XRP for the past seven years was later clarified to be partially incorrect, as they had bought XRP in January 2018, following its drop from all-time highs of $3.84. XRP, the seventh largest cryptocurrency by market capitalization, has primarily underperformed in recent years. It is one of the few cryptocurrencies that did not reach all-time highs during previous and current bull cycles. The Securities and Exchange Commission's lawsuit against Ripple in December 2020, coupled with the 2022 bear market, has reduced XRP's value. Since its peak in January 2018, XRP has lost more than three-quarters of its market value, disappointing investors and enthusiasts. Despite these challenges, including regulatory scrutiny and market volatility, XRP remains among the top 10 cryptocurrencies by market capitalization. Schwartz's focus on XRP's 1,500% growth may not accurately reflect its past success, but it could signal its potential. At the time of writing, XRP had increased by 3.12% in the previous 24 hours to $0.5172, outperforming the top 10 cryptocurrencies in terms of daily gains.
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