Cardano (ADA), a rival to Ethereum, has seen a dramatic increase in its total value locked (TVL) in the final quarter of 2023. TVL Growth According to crypto analytics firm Messari, Cardano’s TVL reached an all-time high of $449 million on December 14. This represents a 166% increase from the previous quarter and a staggering…
Cybercriminals are increasingly using cross-chain bridges to launder illicit funds, according to Chainalysis. Laundering Tactics Evolve In 2023, the amount of crypto received by bridge protocols from illegal sources surged by 138% to $743.8 million. This suggests a shift in money laundering tactics, with criminals moving away from exchanges and towards bridges and mixers. Lazarus…
Whale’s Big Move A whale has been buying up Ethereum (ETH) and selling Wrapped Bitcoin (WBTC) on the Aave protocol. On February 16th, they borrowed $14.6 million worth of WBTC and bought 5,150 ETH. Reasons for the Switch It’s unclear why the whale is making this move, but Ethereum has been outperforming Bitcoin in recent…
Background VanEck, an investment firm known for its Bitcoin ETFs, recently settled with the SEC over charges related to a lack of disclosure. The Issue In 2021, VanEck launched the Social Sentiment ETF (BUZZ), which tracked an index based on social media insights. However, the SEC found that VanEck failed to disclose: The involvement of…
Upcoming Upgrade Uniswap, a popular decentralized exchange, is set to upgrade to its fourth version (v4) in the third quarter of 2024. This upgrade will follow Ethereum’s Dencun update, which is expected to roll out in March. Phases of the Upgrade The upgrade will be implemented in three phases: Phase 1: Code freeze, completion, testing,…
On February 15th, rumors spread through the crypto world that Senator Elizabeth Warren had honored Bitcoin’s creator, Satoshi Nakamoto, with a ceremonial flag. However, it turns out that’s not the whole story. What Really Happened According to a Twitter user, someone (possibly a troll) contacted Warren’s office to purchase a flag that would be flown…
What is Open Interest? Open Interest measures the number of Bitcoin futures contracts that are currently open on exchanges. When this number increases, it means more people are betting on Bitcoin’s price. Recent Surge in Open Interest Lately, Bitcoin’s Open Interest has skyrocketed. This suggests that a significant amount of speculation is happening in the…
Traditional Finance Embraces Crypto Geoff Kendrick, a Standard Chartered analyst, predicts that traditional fund managers will soon invest in cryptocurrencies. The recent launch of spot Bitcoin Exchange-traded funds (ETFs) in the US and the strong performance of Bitcoin and Ethereum have sparked interest in crypto-based investments. 401k Market Poised to Shift Kendrick believes that retirement…
Hedge fund manager Anthony Scaramucci is still confident in his prediction that Bitcoin (BTC) will reach $170,000, calling it “conservative.” Halving Event and Historical Pattern Scaramucci believes Bitcoin’s price tends to rise 4x from its value at the time of a halving event, which reduces miners’ rewards. With Bitcoin’s price around $50,000 at the last…
XRP supporter and lawyer John Deaton is reportedly exploring a Senate run against Democratic incumbent Elizabeth Warren in the 2024 US Senate elections. Deaton’s Connections to Massachusetts Deaton, who represented XRP holders in the SEC’s case against Ripple, highlighted his deep ties to Massachusetts in a social media post: Lived in Swansea, Massachusetts Practiced law…
