Crypto Guides, Knowledge & Insights

Q3 2023: Top 10 DEX Spot Trading Volume Hits $105B, Down 31.2% from Q2

CoinGeckos Q3 cryptocurrency industry report reveals that the total trading volume for the top 10 DEXs in Q3 2023 was $105 billion, a 31.2% decrease from the second quarter. THORChain had the largest percentage gain in Q3 2023, with a trading volume increase of 113%, totaling $1.27 billion. Sushi.com, which has been a DEX mainstay since 2020, dropped out of the top 10 in Q3 2023. Orca claimed the dominant position with a 1% market share by the end of September.　　

2023-11-01Deep Dive

Top 5 Best Meme Coins In 2024

Meme coins have undoubtedly left a significant mark on the cryptocurrency landscape, establishing themselves as an integral and unmissable component of the market.What is a meme coin？　　In the world of cryptocurrency, a unique and rather unconventional subcategory has emerged – meme coins. These digital currencies, often accompanied by comical or animated memes, have gained popularity thanks to enthusiastic online traders and followers. While meme coins offer a fun and lighthearted approach to the crypto market, its crucial to understand that they come with significant risks and may lack intrinsic value.　　At its core, a meme coin is a type of cryptocurrency that draws its inspiration from internet memes or incorporates humorous elements into its design. However, this broad definition merely scratches the surface of the meme coin phenomenon. In many cases, meme coins go beyond just borrowing from meme culture and infuse it into the very fabric of their tokens technical design.　　One defining characteristic of meme coins is the passionate online communities that rally behind them. These communities play a pivotal role in the currency‘s growth, fostering a sense of exuberance that sets meme coins apart in the crypto world. It’s not uncommon to see meme coins adorned with animated character

2023-11-01Deep Dive

Celestia Mainnet Beta Is Now Live After 60 Million TIA Token Airdrop

Celestia, the pioneering modular blockchain network, has successfully deployed its mainnet beta, codenamed “Lemon Mint.”Celestia Mainnet Beta Unveils Cutting-Edge Data Availability Tech　　This release introduces a game-changing data availability technology known as Data Availability Sampling (DAS). Celestia Mainnet Beta will enable rollups and other modular chains to leverage Celestia for data availability and consensus.　　One significant development accompanying this milestone is the listing of Celestias native token, TIA, on both centralized and decentralized exchanges. TIA will be available for trading on platforms such as Binance, Bybit, KuCoin, and Osmosis, making it accessible to a broader user base.The concept of DAS revolutionizes how blockchain nodes verify data availability without the need to download the entire dataset for a specific block. This concept was originally introduced in the “LazyLedger” whitepaper four years ago, and Celestia is now implementing it on its platform.　　Celestia Mainnet Beta, Lemon Mint, represents the debut of the first modular data availability network. However, Celestia is not embarking on this modular era alone; a thriving ecosystem is evolving to contribute new components to the modular stack.TIA Token Expansion and Developer Opportunities in Modular Blockchain　　Developers now have the opportunity to explore and create novel applications enabled by abundant blobspace, including onchain gaming.

2023-11-01Deep Dive

Taiwan’s Record 320M USDT Crypto Laundering Scandal Unveiled!

Taiwanese authorities recently made a significant breakthrough in the battle against crypto laundering, cryptocurrency-related crimes, uncovering what is being touted as the countrys largest-ever money laundering case involving a staggering sum of 320 million USDT.　　The investigation, spearheaded by the Taiwan police, has shed light on the intricate web of criminal activities orchestrated by a group of sophisticated fraudsters operating within and beyond Taiwans borders.　　According to the latest findings, the criminal suspects implicated in the money laundering scheme have been found to frequently traverse international boundaries, with Hong Kong, the Philippines, and Malaysia emerging as key destinations for their illicit activities. These individuals are believed to have established communication channels with local fraud groups in these regions, actively aiding in the process of laundering the substantial sum of cryptocurrency, with USDT as the focal point.Criminal Suspects Collaborate Across Borders in Elaborate Scheme　　The intricate nature of the operation has raised concerns among authorities regarding the scale and complexity of transnational cryptocurrency crimes. Law enforcement officials have emphasized the importance of bolstering international cooperation and implementing stringent regulatory measures to curb the rising trend of cross-border financial malfeasance. The need for a unified approach in tackling such sophisticated criminal networks has become increasingly

2023-11-01Deep Dive

Unibot Hacker Funneled 355.75 ETH via Tornado Cash Laundering Scheme!

Unibot hackers official Twitter account released a statement addressing a token approval vulnerability discovered within their new router.　　The company promptly suspended the router to contain any potential risks, citing a bug as the root cause. Assurances were extended to users regarding the safety of their keys and wallets, with a commitment to reimburse any lost funds. The announcement emphasized Unibot hackers proactive stance in addressing the issue and promised a comprehensive response pending the completion of their investigation.Stolen Tokens Laundered Through Tornado CashUnibot Hacker Funneled 355.75 ETH via Tornado Cash Laundering Scheme! 　　The gravity of the situation was further underscored by PeckShieldAlert‘s monitoring report, revealing distressing details about theUnibot hacker’s swift actions. The report disclosed that the assailant had successfully converted the pilfered tokens, amounting to an estimated 355.75 ETH, equivalent to roughly $640,000. Further analysis by PeckShieldAlert indicated that the attacker had effectively obscured the origins of the funds by laundering them through the notorious Tornado Cash platform.　　The convergence of Unibots security vulnerability and the subsequent illicit conversion of tokens into a substantial amount of Ethereum cast a shadow over the crypto community. Industry experts and investors expressed concerns over the persistent challenges posed by security breaches and the

2023-11-01Deep Dive

Starknet to Distribute 50 Million STRK Tokens to Early Ecosystem Contributors

The Starknet Foundation is allocating 50 million STRK tokens, which have not been released yet, to early ecosystem contributors. This initiative is known as the “Early Community Members Program” and aims to reward individuals who encourage technical discussions, organize Starknet-related events, and regularly publish Starknet-related content, as described in a blog post.　　“We intend to take this opportunity to recognize individuals who have made significant contributions to the Starknet ecosystem in various ways. Such contributions involve being key members who have made a substantial and positive impact on the ecosystem,” stated the Starknet Foundation in the blog post.　　The foundation also mentioned that it will reserve some tokens in case some contributors are inadvertently overlooked.　　

2023-10-31Deep Dive

Venture Capital Firm CEHV Partner: Most Accelerators Are Worthless Scams

CEHV Partner and YFI contributor Adam Cochran, in a post on X platform, expressed that most “accelerators” are scams with no value. If youre looking for an accelerator, he provided the following rules:　　A valuation of $3-5 million should be the absolute minimum.　　Investment should not come with any project fees.　　Housing (referring to general hardware support) should not substitute for cash.　　Legal advisory-related fees should not be included in the investment.　　Proportional allocation.　　There should be no board seats.　　Connections are crucial (referring to resources provided).　　Accelerators and their teams should never demand advisor equity.　　

2023-10-31Deep Dive

CEX Trading Volume Hits $443.27 Billion in October, Binance and Upbit Lead the Way

The Blocks data dashboard shows that the cumulative trading volume on cryptocurrency exchanges from October 1st to the present has reached $443.27 billion. Binance leads the way with a spot trading volume of $179.41 billion in October. South Korean exchange Upbit ranks second with a spot trading volume of $51.88 billion in October.　　From October to the present, Bybits spot trading volume reached $31.99 billion. Coinbase had a spot trading volume of $28.22 billion, and OKX had a spot trading volume of $27.68 billion.　　In addition, the spot trading volume (7-day average) of top platforms surpassed $240 billion on October 26, marking a new high since the end of March.　　Compared to the summer, the crypto market has experienced more pronounced volatility as traders are closely watching the impact of headlines regarding the potential launch of a “Bitcoin spot ETF.” Supporters believe this will create new channels for capital inflows. The Blocks data shows that the BTC Dvol (Deribit Bitcoin Volatility Index) has reached a new high since April.　　

2023-10-31Deep Dive

Bittrex U.S. Shutdown As Bankruptcy Plan Approved By Court

According to Reuters, Bittrex U.S. shutdown plan meets court approval after legal battle with SEC. Assets returned to customers, creditors paid in full. $143M withdrawn during bankruptcy.　　Crypto exchange Bittrex has received bankruptcy court approval to shut down its U.S. operations, following a legal battle with the U.S. Securities and Exchange Commission (SEC). The bankruptcy plan, approved by U.S. Bankruptcy Judge Brendan Shannon, allows Bittrex to wind down its operations and pay remaining creditors in full.Legal Battle with the U.S. SEC Leads to Bittrex U.S. Shutdown　　Bittrex filed for bankruptcy protection in May after being charged by the SEC with operating an unregistered securities exchange. The company decided to close its U.S. operations and return assets to customers, reaching a $24 million settlement with the SEC in August. Unlike other bankrupt crypto companies, Bittrex did not have a funding shortfall and did not lock customers out of their accounts.　　Customers were encouraged to withdraw funds before the bankruptcy filing. Bittrex estimated that it would have money left over after customer withdrawals, as some accounts were inactive or abandoned. The majority of remaining Bittrex accounts have less than $100 in assets.　　The company‘s non-U.S. operations based in Liechtenstein, known as Bittrex Global, are unaffected by

2023-10-31Deep Dive

Dogecoin 2200% Breakout: Analyst Reveals Why You Should Buy DOGE

Dogecoin is on the verge of a massive breakout, according to one crypto analyst. The meme coin which has maintained a rather consistent uptrend over the last few days seems to just be getting started as analyst Ali Martinez sees a surge to $1.6.Dogecoin Price Primed For 2200% Move　　In a recent analysis posted on X (formerly Twitter) crypto analyst Ali Martinez presented an ultra bullish narrative for the Dogecoin price. The analyst shared a chart showing a possible price trajectory for the meme coin that seems to end at the $1.6 level.　　This starts out at the current $0.069 level which the analyst believes is a great buying point. Then going onward, there is an initial pump above $0.13 before a brief retracement takes place. Then there is another surge in price that sends DOGE right above $0.4.　　The next level mapped out in the chart sees it rise as high as $1.2 before another drawdown. Another bounce from here is what takes the Dogecoin price above the $1.6 target, before a final drawdown back below $1.DOGE could rally to $1.6 | Source: Ali_charts on X　　“#Dogecoin shows promising signs, breaking out from a multi-year descending triangle on the $DOGE weekly chart! The

2023-10-31Deep Dive

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