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On the evening of November 19, stablecoin issuer Tether announced a significant move: transferring $1 billion USDT from the Solana blockchain to Ethereum. Tether emphasized that this transfer is merely a change of blockchain for USDT and will not impact the overall supply of the stablecoin. Graphic showing the USDT
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The GBTC (Grayscale Bitcoin Trust) shares have reached a historic low, trading at a 43% discount to Bitcoin, following news that Genesis Trading, a sibling company of Grayscale, has halted withdrawals due to its exposure to the FTX collapse. According to data from yCharts, the discount between GBTC shares and
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Sui Network, a layer-1 blockchain created by former Meta (formerly Facebook) employees, has officially launched its testnet. Testnet Wave 1 is designed for validators and all nodes, serving as a "rehearsal" environment to enhance decentralization, address issues, and identify a core group of experienced node operators for deployment,
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After a period of silence, El Salvador's President Nayib Bukele has resurfaced in the crypto space with a renewed call to "buy Bitcoin." On November 17, President Bukele announced on Twitter that his country will resume its Bitcoin purchasing strategy, acquiring an additional 1 BTC daily
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Statistics reveal that hundreds of millions of dollars have been wiped out from Solana’s DeFi ecosystem following the catastrophic collapse of FTX. In its peak period in November 2021, the DeFi ecosystem on Solana boasted over $10 billion in assets, thriving under the leadership of billionaire Sam Bankman-Fried, the
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On the evening of November 13th, despite the overall market crisis, the price of AXS unexpectedly surged 3x before quickly dumping right after. In the span of a single day, AXS price was driven down to as low as $4 before skyrocketing to nearly $20, and is now stabilizing around
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Review of Last Week's Trades Hey everyone, last week was filled with continuous drama surrounding the FTX exchange and we saw some very negative market reactions. Because of this, I decided to sit on the sidelines and observe rather than trade. It's a pity we had
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Aptos is teaming up with Google Cloud as the tech giant deepens its foray into the Web3 space. Partnership Details Hot new Layer-1 blockchain Aptos has announced a partnership with Google Cloud. At the Token2049 London event, Aptos co-founder and CEO Mo Shaikh revealed the collaboration details with Simon Baksys,
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StarkNet Foundation will focus on grants, funding, and protocol research while decentralizing the network. StarkNet, the Ethereum scaling protocol, has announced the launch of its new governance entity, the StarkNet Foundation. This organization will handle grants and funding for new StarkNet protocols, aligning with Ethereum’s decentralized and open-source principles.
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The leading stablecoin in the crypto market, Tether (USDT), unexpectedly slipped from its $1 peg on the afternoon of November 10. Update as of November 10, 2022: As of 9:00 PM, USDT showed signs of recovery, rising back to $0.994 on CoinMarketCap, and the BUSD/USDT pair dropped
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In the wake of The Merge, Ethereum (ETH) has successfully burned all newly minted ETH since the upgrade. As of the morning of November 9th, Ethereum's network has first achieved a deflationary state since The Merge, according to data from Ultrasound.money. Specifically, the circulating supply of Ethereum
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The collapse of FTX is plunging the cryptocurrency market into a crisis—particularly impacting projects connected to it, such as Solana, which is currently experiencing widespread difficulties. SOL, a token not directly associated with FTX but previously supported by Sam Bankman-Fried, has plummeted to $16.24, down 42% today. SOL