Crypto Guides, Knowledge & Insights

Pepe Coin Is Showing Bullish Signal As Price $0.000001 Holds

Pepe coin rebounds with whale investments, signaling a positive trend.　　The chart shows a recovery, breaching resistance at $0.00000135.　　Whales invest heavily, and speculation remains; Pepe trades at $0.00000133, targeting $0.00000142 resistance.　　Pepe coin has recently shown signs of recovery, bolstered by substantial investments from influential investors and a surge in social interactions. This resurgence hints at a potential positive turnaround for the meme-based cryptocurrency and its holders.　　Examining the daily chart, the Pepe coin, known for its frog theme, has traced a notable recovery from its combined support at $0.00000106. This upward momentum is potentially linked to the emergence of a bullish reversal pattern referred to as an ending diagonal.　　Notably, the coins price has breached a local resistance point of $0.00000135, pointing towards the possibility of further upward movement.PEPE price chart. Source: TradingView　　The involvement of significant investors, commonly known as whales, can have mixed consequences. While it can generate short-term upward price shifts, it also exposes investors to the risk of abrupt sell-offs by these influential entities, potentially leading to substantial losses for holders.　　Insights from Lookonchain have illuminated a considerable uptick in whale interest in PEPE. A substantial investment of 1 million USDC was employed to secure a staggering 807 billion PEPE tokens,

2023-08-14Deep Dive

FedNow Supports Hedera’s Dropp Payment Platform, HBAR Soars 16%

Key Points:　　The US Federal Reserve‘s instant payments system, FedNow, has added Hedera’s (HBAR) Dropp payment platform.　　Currently, Dropp allows small-sized payments in HBAR, USD, and USDC.　　Hederas native HBAR tokens surged 16% after the news.　　The US Federal Reserve‘s instant payments system, FedNow, has added Hedera’s (HBAR) Dropp payment platform to its list of service providers.　　Dropp plans to partner with banks that use FedNow Services to provide merchants with an innovative option for year-round, end-of-day real-time and instant payments services, providing the ability to direct access to money from customers for high-value transactions. The platform will also enable retail-level instant payments for everyday purchases by joining FedNow.　　Currently, Dropp allows micropayments for small-value transactions in both HBAR, USD, and USDC. Merchants save money and grow their businesses, while consumers get convenient access to life-enriching products and services. In addition, Dropp allows for NFT storage, transactions, transfers, and viewing of NFT transaction history and details and associated fees.　　Dropp, a cost-effective digital micropayment transaction platform, has officially launched on the Hedera Hashgraph blockchain. It is built on high throughput, low latency distributed ledger technology for instant payments. Dropp currently uses ACH to fund consumer wallets and make payments to merchants at the end of the day.　　Hedera‘s

2023-08-14Deep Dive

Coinbase Ventures Announces Strategic Investment in Rocket Pool

Coinbase Ventures officially announced that it has made a strategic investment in the Rocket Pool project by acquiring RPL tokens directly from the Rocket Pool team.　　Rocket Pool is a decentralized liquidity staking protocol that, similar to Lido, enables users to stake ETH while retaining their liquidity. Users can participate by staking their ETH in Rocket Pool to receive rETH, thereby unlocking liquidity.　　Presently, Rocket Pools network boasts over 3,100 active node operators, with Ethereum staking totaling over 780,000 ETH. It holds a 3.06% market share of all protocols providing staking services, second only to the Kraken exchange.　　

2023-08-11Deep Dive

Binance Labs Invests $10 Million in Helio Protocol to Support its Transformation into a Liquidity St

Binance Labs has invested $10 million in Helio Protocol to facilitate its transformation into a liquidity staking platform.　　Currently built on BNB Chain, Helio aims to utilize this new funding to expand its platform onto other chains. A spokesperson from Binance Labs stated, “Helios goal is to launch on Ethereum and subsequently on Layer 2 networks like Arbitrum and zkSync.”　　Previously, Helio only offered stablecoin minting services, allowing users to mint HAY, a decentralized stablecoin pegged to the US dollar, backed by overcollateralized BNB. This functionality is similar to Makers DAI and the recently launched GHO stablecoin by Aave.　　In July, Helio Protocol merged with staking provider Synclub, and during the same month, it announced the diversification of collateral to support HAY.　　Since then, Helio BNB deposits have seamlessly transformed into a basket of LST tokens, including AnkrBNB (ANKR), snBNB (Synclub), BNBx (Stader), and stkBNB (Pstake). Although users account balances are denominated in BNB, they have the option to withdraw any of the mentioned LST tokens.　　As of now, Helio ranks as the 13th largest DeFi protocol on BNB Chain, with 11,000 HAY holders contributing $300 million in Total Value Locked (TVL), including $260 million staked in Synclubs validator nodes, making it the second-largest validator

2023-08-11Deep Dive

Circle CEO Advocates for the Establishment of an On-Chain US Dollar System Embracing the DeFi World

Circles Co-founder and CEO, Jeremy Allaire, has released a promotional video urging the United States to “make a choice” regarding digital currencies and reaffirming the threats faced by the US dollar.　　In the video, Allaire discusses the capability of cryptocurrencies to “fundamentally change the way payments work.” He draws a comparison between the late 1990s dial-up internet era and the present state of modern networks driven by technologies like smartphones and artificial intelligence, stating that the “only thing that hasnt kept up with the technological momentum is the US dollar.”　　Allaire asserts that the dominant position of the US dollar in todays global economy is being challenged. He advocates for the creation of an on-chain US dollar, describing it as a robust developer primitive that embraces a multi-chain, dynamic DeFi world, encompassing microtransactions and even large-scale capital markets. He proposes the establishment of this system within the United States and emphasizes that regulatory authorities in the country are ensuring the security, transparency, and adherence to bank-level regulatory risk management standards for these systems.　　

2023-08-11Deep Dive

Bittrex Agrees To Pay $24 Million Fine Against Alleged SEC Securities Violation

Key Points:　　Struggling crypto exchange, Bittrex has agreed to pay a $24 million fine for allegedly violating the US SECs securities laws.　　Despite this, the company and its co-founder William Shihara have neither acknowledged nor denied the allegations.　　The SEC in April alleged that Bittrex operated as a stock exchange.　　The lawsuit between Bittrex and the US Securities and Exchange Commission (SEC) ended after the exchange agreed to a $24 million fine, without admitting or denying the allegations, according to an official SEC announcement.　　Specifically, the penalty includes $14.4 million in restitution, $4 million in profits earned under the court ruling, and $5.6 million in civil penalties.　　Even so, the companies and co-founder William Shihara have not admitted or denied the regulators allegations. Shihara, who did not pay the fine, called the settlement plan “a good outcome” and said he hoped it would help the US strike a balance between protecting investors and promoting innovation.　　Bittrex is one of the largest crypto exchanges in the US, having had a 23% market share at the beginning of 2018. But with competition and the downturn of the crypto industry, the exchange is slowly losing its grip position.　　In April, Bittrex announced its withdrawal from the United States. A month later,

2023-08-11Deep Dive

Rumor: Crypto Whale Burns $8 Million Due To Girlfriend Cheating On Him

Key Points:　　A crypto whale in the crypto world transferred almost $8 million worth of tokens to a dead address, sparking speculation in the community.　　Recent CT accounts suggest that the transfer may have been driven by a personal issue, potentially involving the address owners girlfriend.　　Crypto Whale transfers nearly $8M worth of tokens to dead address: 2,500 ETH (valued at $4.58 million), 36,188 GMX ($1.78 million) and 311,003 GNX ($1.52 million).　　According to Lookonchain, the whale who previously burned 2,500 ETH transferred 36,188 GMX ($1.78 million) and 311,003 GNX ($1.52 million) to a dead address. As of now, the whale has managed to transfer nearly $8 million to the dead address.　　The individual had transferred 2,500 ETH (valued at $4.58 million) to a dead address on July 26th and was found to possess 34,287 GMX ($1.84 million) and 311,003 GNS ($1.43 million). On July 29th, the whale spent 5,330 DAI to purchase GMX and GNS tokens, and also transferred 34.9 GMX ($1,989) and 600 GNX ($2,733) to the dead address.　　According to OxScope, several CT accounts suggest that this transfer was due to the address owners girlfriend cheating on him. However, there is no evidence to support the cheating scandal.　　This news has caused a stir

2023-08-11Deep Dive

80.52 Million SAND Tokens Worth About $32.44M Moved To CEX

Key Points:　　Earlier today, it was discovered that address 0x73b had transferred 80.52 million SAND (approximately $32.44 million) to CEX.　　The action was taken before the 332.55 million SAND unlock event – or 16.1% of the supply on August 14.　　Play-to-Earn Tokens are in the doldrums as top P2E tokens have dropped by almost 98%.　　A large number of The Sandboxs SAND tokens have been put on the exchange ahead of unlocking more than 16% of the supply taking place on August 14.　　According to the monitoring of on-chain data analyst Ember, 6 hours ago, address 0x73b transferred 80.52 million SAND (about $32.44 million) to CEX. Of those, 70 million SAND was transferred to Binance, 10 million SAND was transferred to OKX, and 529,000 SAND was transferred to Gemini.　　It is known that the SAND at address 0x73b all come from The Sandbox: Genesis address unlocking distribution. It last received 60 million SAND from Genesis 7 days ago.　　The activity took place before the big unlock event of the project. On August 14, The Sandbox will unlock 332.55 million SAND – equivalent to 16.1% of the SAND supply.　　A large amount of unlocked tokens could lead to a sharp decline in the price this month. Because in the

2023-08-11Deep Dive

Highstreet Collaborates with Jay Chou's Fashion Brand PHANTACi to Launch PHANTACi Peninsula

On August 10th, the metaverse project Highstreet announced a collaboration with the fashion brand PHANTACi under Jay Chous management. They will establish a partnership to introduce a unique area named “PHANTACi Peninsula” within the Highstreet World. This area will offer fans an innovative interactive experience, including distinctive virtual world landmarks, limited-edition merchandise, and special discounts for PhantaBear holders.　　Currently, both the Highstreet and PHANTACi teams are collaborating on designing residences within the PHANTACi Peninsula. These residences will be sold through an initial residential offering.　　Previously, the CEO of Highstreet confirmed on Twitter Space that a collaboration with Jay Chou was in the works.　　Highstreet is a VR digital business center metaverse aiming to reimagine e-commerce and retail in the Metaverse and Web3 era. The project envisions not only native crypto brands but also various traditional brands participating in the Highstreet metaverse world. By tokenizing products into “virtual” items, Highstreet integrates traditional brands into the blockchain-based realm, offering users a transformative experience of shopping in the metaverse.　　Highstreet has garnered investments from well-known institutions such as Binance Labs, Animoca Brands, Mechanism Capital, NGC, and more.　　

2023-08-10Deep Dive

SEC Seeks Intermediate Appeal in Ripple Labs Case for Summary Judgment

The SEC has submitted a letter to Judge Analisa Torres of the Southern District of New York, seeking an interlocutory appeal on two unfavorable liability judgments in the Ripple Labs case. The SEC stated that it is seeking an appeal on certain aspects of the ruling, while other parts will proceed to the trial phase. Ripple is required to respond by August 16th, and the SEC will submit an opening brief on August 18th. The SEC stated, “There is a need for interlocutory review here, which involves controlling questions of law upon which there is substantial ground for difference of opinion, and such division reflects in the regional split that has emerged.”　　Previously, the United States Southern District Court in New York categorized the tokens sold by Ripple over a span of 10 years into three groups: 1) sales to hedge funds, venture capital, and similar institutional entities; 2) direct programmatic retail sales on digital asset exchanges; and 3) “as a form of payment for services,” such as providing services to employees and other service providers through restricted token purchase agreements or option contracts. The court rendered a summary judgment, determining that selling Ripples XRP tokens through exchanges and algorithms does

2023-08-10Deep Dive

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