Blockchain Analytics According to Santiment, an Ethereum-based altcoin, Chainlink (LINK), is dominating the real-world assets (RWA) sector in terms of development activity. Chainlink’s daily activity on GitHub surpasses that of its closest competitor, Synthetix (SNX), by over two times. Top RWA Projects by Development Santiment’s ranking of RWA projects based on development activity is as…
The U.S. Securities and Exchange Commission (SEC) has labeled Ripple’s planned stablecoin as an “unregistered crypto asset.” Unregistered Sales According to the SEC, Ripple has been selling XRP, the digital asset used for the XRP Ledger, as an unregistered security since 2013. The agency claims that Ripple also intends to launch a new token that…
Nigerian Government Denies Claims Nigeria has vehemently denied bribery allegations made by Binance, the world’s largest cryptocurrency exchange. According to the Nigerian Ministry of Information, the allegations are “baseless” and “a diversionary tactic” to shift attention away from Binance’s own activities. Binance’s Accusations Binance CEO Richard Teng claimed that Nigerian officials demanded a $150 million…
Binance’s Perspective Binance CEO Richard Teng has denounced Nigerian authorities for allegedly abusing their power and mistreating Binance executives, including Tigran Gambaryan who remains in detention. Teng claims that Binance proactively sought guidance from Nigerian regulators, but received no response. He alleges that in early 2024, Binance employees were offered a “settlement” in exchange for…
Full Refunds for FTX Customers FTX, the now-bankrupt cryptocurrency exchange, has announced a plan to fully reimburse customers and creditors. This includes compensation for the time value of their investments. Bankruptcy Traders Take the Lead Contrary to expectations, the biggest beneficiaries of the repayment plan are not customers but bankruptcy traders. These traders bought claims…
Ethena’s USDe: A New Contender Ethena’s USDe stablecoin is making waves in the crypto world. Unlike traditional stablecoins like USDT and USDC, which are backed by fiat currency, USDe is a “synthetic dollar” backed by a mix of assets, including staked ETH derivatives and short positions. Partnership with Bybit Ethena has recently partnered with Bybit,…
On-Chain Analysis On-chain analyst Willy Woo believes Bitcoin (BTC) is showing signs of a potential surge in price. According to Woo, the volume-weighted average price (VWAP) oscillator chart is indicating a bullish divergence, suggesting that investors are accumulating BTC despite falling prices. VWAP Oscillator The VWAP oscillator measures the average traded price of an asset,…
Accumulation Activity Slows Down Analytics firm IntoTheBlock has noticed a shift in the behavior of large Bitcoin (BTC) holders, known as whales. Since March, whales have consistently bought BTC during price pullbacks. However, IntoTheBlock reports that whales holding over 1,000 BTC are now showing less enthusiasm for buying dips. The firm’s netflow metric, which tracks…
Enforcement Actions on the Horizon The head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, has warned that the crypto industry is facing a wave of regulatory enforcement in the coming months. Protecting Investors Behnam emphasized the need to protect investors in the absence of clear regulations. He stated, “Without a regulatory framework, you…
Bitcoin’s Bull Run Continues Tom Lee, CEO of Fundstrat, remains bullish on Bitcoin, predicting significant gains this year despite recent volatility. He believes the cryptocurrency’s bull market is far from over and sees it potentially reaching $150,000. Stock Market Outlook Lee is also optimistic about the stock market, highlighting strong earnings growth and a large…
