Trust Broken by Unannounced Fees Nexo, once seen as a trustworthy crypto exchange, has sparked outrage among users after a sudden fee increase. Without warning, bank transfer fees jumped to £5/€5 for FPS/SEPA withdrawals and $25/£25 for SWIFT transactions. Users feel betrayed and frustrated, with many fearing a slippery slope of additional charges. “They sent…
Ripple Labs has filed a trademark application for “RLUSD” as the ticker symbol for its upcoming stablecoin. Details of the Trademark Filing The application was filed on May 7, 2024, and covers a wide range of financial services related to the stablecoin, including: Receiving and disbursing payments in virtual currency and digital tokens backed by…
SEC Approval Timeline If the Securities and Exchange Commission (SEC) approves Ethereum Spot ETFs, analyst James Seyffart predicts it could take weeks or even months before they start trading. This is because the S-1 filings need to be approved before trading can begin. VanEck’s Application Seyffart and his colleague believe the SEC will likely approve…
Milestone Reached Polygon, the Ethereum scaling solution, has reached an impressive milestone: 4 billion total transactions. This is a remarkable achievement, considering the network’s launch just four years ago. User Surge Polygon’s growth is not just a number. The network has seen a surge in daily active users, averaging over 1 million daily users for…
Analyst DonAlt predicts a surge in altcoins if an Ethereum spot ETF is approved. Impact on Bitcoin and Ethereum DonAlt believes an Ethereum ETF could reduce inflows to Bitcoin but boost Ethereum and underperforming altcoins. Potential Altcoin Beneficiaries The analyst highlights Pepe (PEPE) as an altcoin poised for a breakout if an ETF is approved….
Binance Labs, the venture capital arm of Binance, has invested in Aevo, a layer-2 (L2) decentralized exchange (DEX). Aevo’s Features Aevo is a high-performance DEX platform that specializes in futures and perpetual contracts trading. It’s built on top of Optimism’s OP Stack and uses Celestia for high-throughput data availability. Binance’s Investment Binance’s investment will help…
A JPMorgan Chase customer in Brooklyn was robbed of $300,000 just after withdrawing the cash from a bank branch. The Incident The 31-year-old customer withdrew the large sum from a teller and was robbed as soon as he exited the bank’s front door, according to News 12. Suspect Description Police say the suspect “forcibly removed”…
After a prolonged downturn, venture capital (VC) investment in cryptocurrency firms is experiencing a resurgence. Rise in VC Funding According to data from PitchBook, VC investment in crypto companies surged by 41% in the first quarter of 2024, reaching $2.4 billion. This marks a significant turnaround from the seven consecutive quarters of decline. Market Context…
Accumulation Surge On-chain data reveals that Bitcoin addresses with zero sales history, known as “accumulation addresses,” made significant purchases before the recent price rally. These addresses represent long-term holders (HODLers) who have never sold their Bitcoin. To qualify as an accumulation address, it must meet specific criteria: At least two incoming transactions Last transaction within…
Triangle Pattern Signals Upside Crypto analyst Lingrid has spotted a bullish triangle pattern on Dogecoin’s chart. This pattern suggests that the price is likely to continue rising. The triangle is formed by the market consolidating below the upper border of the triangle. This often leads to a price squeeze, which is bullish. Range Zone and…
