Crypto Guides, Knowledge & Insights

$SUI Tokens Worth 35.6 Million Unleashed in 3 Days!

Key Points:　　Sept 3rd marks unlocking of 35.6M $SUI tokens worth $18.7M.　　Brace for market shifts as unlocked tokens may influence prices.　　Dive into implications for trading, liquidity, and crypto landscape dynamics.$SUI Tokens Worth 35.6 Million Unleashed in 3 Days! 3　　This unlocking event carries a substantial value of approximately 18.7 million dollars, adding a new layer of interest to the crypto landscape. As the countdown continues, analysts and traders are closely watching how this influx of tokens may impact token prices, trading volumes, and market sentiment.　　Such unlocking events are known to trigger both excitement and cautious anticipation within the crypto community. While they offer increased liquidity and potential trading opportunities, they also have the potential to exert pressure on token prices, causing fluctuations in the market.　　The $SUI token unlock on September 3rd is expected to draw attention from all corners of the cryptocurrency industry. Market observers will be closely monitoring trading patterns before, during, and after the event, as well as assessing any potential ripple effects across the broader market.　　With 35.6 million $SUI tokens primed for release, September 3rd promises to be a day of action and observation for the cryptocurrency community. As the countdown ticks away, industry stakeholders are prepared for an

2023-08-31Deep Dive

Binance Issues Notice: Support for BUSD to Cease in 2024, Redemption to Conclude Before February 202

As per an official app notification, Binance will cease support for BUSD in 2024, with Paxos discontinuing BUSD redemptions by February 2024. Consequently, Binance will gradually phase out its support for BUSD.　　On February 13, 2023, Paxos announced that it had received guidance from the New York Department of Financial Services (NYDFS) to halt the issuance of new BUSD tokens starting from February 21. Since December 2022, the market capitalization of BUSD has experienced a significant decline. BUSD is a 1:1 USD-backed stablecoin that was approved by the New York State Department of Financial Services (NYDFS) and was issued in collaboration with Paxos. At its peak, BUSD had a maximum circulation of 23 billion USD.　　Tokens exclusively traded in BUSD trading pairs on the Binance exchange might be exposed to the risk of delisting from the Binance platform.　　

2023-08-30Deep Dive

Circle Announces Launch of Native USDC on Base

In an official communication, Circle has announced its plans to introduce native USDC on the Base platform, marking it as the official manifestation of USDC within its ecosystem. Over time, Circle anticipates the growth of liquidity for native USDC on Base and the potential displacement of the currently circulating bridged USDC from Ethereum, known as USDbC liquidity.　　Regarding the migration of liquidity, Base will collaborate with ecosystem applications to facilitate a seamless transition from USDbC to native USDC. The Base Bridge will not undergo immediate changes and will continue to operate as usual.　　Circle has outlined the following benefits for developers and users resulting from the introduction of native USDC on Base:　　Full reserves with a 1:1 USD peg.　　Facilitation of institutional on/off-ramps.　　Previously, insider sources revealed that USDC is set to launch on six new blockchains, including Polygon PoS, Base, Polkadot, NEAR, Optimism, and Cosmos, via the Noble network.　　Currently, USDC is already available on Ethereum, Avalanche, Arbitrum, Stellar, Algorand, Tron, Flow, Solana, and Hedera chains.　　

2023-08-30Deep Dive

Insider Source: Jump Trading Parts Ways with Robinhood and May Further Withdraw from the Market

Insiders have disclosed to CoinDesk that Robinhoods cryptocurrency business has ceased its collaboration with Jump Trading. Previously, Robinhood had provided retail customers with low-cost cryptocurrency trading services, with Jump Trading serving as a partner to provide market-making services.　　Reportedly, in the face of heightened regulatory scrutiny, Jump Trading has been gradually withdrawing from the U.S. market.　　Earlier, Tai Mo Shan Ltd, a subsidiary of Jump Trading that handled Robinhoods order flow, had been listed in Robinhoods financial reports, but the company has been absent from these reports since Q4 of 2022.　　The reasons for the termination of this partnership between the two entities remain unclear. (Source: CoinDesk)　　

2023-08-30Deep Dive

CYBER Price Soars Over 85% in 24 Hours

Key Points:　　- CyberConnects CYBER price surged from $3.8 to $8.2 in just half a day.　　- Currently, the price has corrected to the $7.1 zone with an increase of 85.38% in the last 24 hours.　　- CYBER‘s strong bullish momentum can be attributed to the overall market recovery following Grayscale’s legal win over the SEC.　　CyberConnnects CYBER price has gained significant traction after achieving an increase of over $85% in just 24 hours.　　The CYBER token, which is the Web3 social graph protocol, briefly crossed $8.22 around 5 a.m. today and has now dropped back to $7.1 with an 85.38% gain in just the last 24 hours.24h CYBER price chart. Source: CoinMarketCap　　The impetus for CYBER‘s incredible increase is largely due to the overall market recovery as Bitcoin and major cryptocurrencies have surged significantly in the past 12 hours, thanks to Grayscale’s legal victory over the SEC.　　Just like when Ripple gained a legal advantage in its lawsuit with the SEC, causing the price of XRP and many alleged altcoins to be securities to skyrocket, the cryptocurrency market in the past hours has recorded a positive reaction after the US Securities and Exchange Commission lost ground against another crypto company, Grayscale.　　The token went live on Binance

2023-08-30Deep Dive

Grayscale’s Court Win Over SEC Lifts Hopes for Bitcoin ETF Approval

Crypto asset manager Grayscale Investments has scored a major victory against the United States Securities and Exchange Commission in its efforts to convert its over-the-counter Grayscale Bitcoin Trust (GBTC) into a listed Bitcoin $27,383 exchange-traded fund (ETF). Previously, the SEC rejected its GBTC application on grounds that the products were not “designed to prevent fraudulent and manipulative acts and practices.” Grayscale subsequently sued, and the decision has been overturned.　　According to Aug. 29 court filings, U.S. Court of Appeals Circuit Judge Neomi Rao ordered Grayscale‘s petition for review be granted and the SEC’s order to deny the GBTC listing application be vacated. Previously, Judge Rao said that the SEC did not “offer any explanation” as to why Grayscale was in the wrong. However, the order does not guarantee the eventual listing of a Grayscale spot Bitcoin ETF.　　Michael Sonnenshein, CEO of Grayscale, said on X (formerly Twitter) that its legal team is “actively reviewing” the court opinion.　　On June 29, 2022, the SEC denied Grayscale‘s application to convert GBTC into a spot ETF. The next day, Grayscale’s senior legal strategist, former U.S. Solicitor General Donald B. Verrilli Jr., filed a petition for review with the United States Court of Appeals for the District

2023-08-30Deep Dive

Binance Will Stop Supporting BUSD In 2024

Key Points:　　- Cryptocurrency exchange Binances app will stop supporting BUSD in 2024.　　- Paxos will close the acquisition of BUSD by February 2024.　　- BUSD was previously sued by the SEC for being an unregistered security.　　After many turbulent lawsuits, market-leading cryptocurrency exchange Binance has decided to stop supporting its stablecoin BUSD in 2024.　　According to an official announcement on crypto exchange Binances app, the exchange tells users it will stop supporting its stablecoin, BUSD, in 2024. And the services will be phased out until Paxos will complete the acquisition of BUSD by February 2024.　　Perhaps under pressure from regulators, BUSD has made users wary even though it is still in the top 5 stablecoins by market capitalization, $3,102,462,479.Top Stablecoin Tokens by Market Capitalization. Source: CoinMarketcap　　On February 13 of this year, the United States Securities and Exchange Commission (SEC) is about to file a lawsuit against Paxos Trust Company as an issuer of BUSD, alleging that the coin is an unregistered security.　　Following that, US-based blockchain infrastructure platform Paxos Trust Company announced it would stop issuing new Binance stablecoins from February 21. At the time, Changpeng Zhao (CZ), CEO of Binance, said BUSD holders shouldnt worry as Paxos will manage the conversion and fully cover the

2023-08-30Deep Dive

Optimism: Initial OP Token Grant to be Allocated to BASE Tomorrow

In official announcements, Optimism revealed its plan to distribute initial OP tokens through a grant to Base on August 30th. This transaction had been pre-informed as part of their ongoing plans.　　In a previous update, Base and Optimism developers jointly introduced a revenue-sharing and governance-sharing protocol. The smart contracts of Base can only be upgraded through a 2/2 multisig wallet, with one signature controlled by Base and the other by the Optimism Foundation.　　Base will also allocate 2.5% of its revenue or 15% of its profits to the Optimism Collective, depending on which is higher. In return, Base stands to receive up to a maximum of 118 million OP tokens over the next six years, granting it a voice in the protocol governance of Optimism.　　

2023-08-29Deep Dive

NFT Trading Platform Faces Liquidity Crisis

PROOFs Research Director NFTstats.eth has posted on Platform X (formerly Twitter), stating that on August 27th, the daily trading volume of NFTs on major NFT trading platforms dropped below 5000 ETH for the first time in nearly two years.　　According to data visualized by NFTstats.eth, its evident that the trading volumes on several prominent NFT trading platforms have been consistently contracting. In comparison to the peak earlier in the year, with a daily trading volume exceeding 80,000 ETH, the maximum daily trading volume has plummeted by over 90%.　　

2023-08-29Deep Dive

StarkNet Community Gearing Up for Commemorative NFT Release as TVL Sees Short-Term Dip

StarkNet, through its presence on Platform X (formerly Twitter), has announced that the community is actively preparing for a commemorative NFT release in celebration of the mainnets quantum leap version.　　The NFT issuance is scheduled for August 30th at 13:00 (UTC+8) and will last for a brief 24-hour period. This quantum leap version corresponds to StarkNet 0.12 and was officially deployed to the mainnet on July 12th.　　According to data from L2BEAT, StarkNets Total Value Locked (TVL) has experienced a rapid decline since 10:00 (UTC+8) on August 28th, plummeting from $143 million to $107 million, marking an intraday decrease of over 29%.　　

2023-08-29Deep Dive

...

8486

...

742