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Deep-pocketed traders triggered a price crash over the weekend after depositing a huge chunk of an altcoin’s supply to digital asset exchanges. According to blockchain tracking firm Lookonchain, whales in the Bounce (AUCTION) market have been greatly influencing the altcoin’s price action for the past week, causing massive swings in both directions. Bounce Finance is a decentralized auction platform enabling auctions for various assets, such as physical assets tokenized on the blockchain and non-fungible tokens (NFTs). AUCTION tokens are used for governance, staking, and fees for participating in auctions or creating NFTs on the platform. Lookonchain says that in the last several days, whales sent over 14% of the circulating supply of AUCTION to Binance, the largest crypto exchange in the world by volume, and OKX. Those deposits presumably led to coins being sold on the open market, which ultimately caused prices to plummet. Says Lookonchain, ...

Crypto wallets linked to the now-defunct crypto exchange FTX and the bankrupt trading firm Alameda Research have unstaked over 3 million Solana tokens, which is the largest SOL unlock since the company started selling its tokens back in November 2023. Blockchain analytics firm Lookonchain noted the unstaking activity by Alameda and FTX in an X post earlier today. At the time of the SOL unlocks, the tokens were valued at approximately $431 million. FTX And Alameda Move Thousands Of SOL To Binance After unlocking the tokens, the two firms then sent the SOL to Binance, which is the largest exchange in the crypto space in terms of 24-hour trading volume. On-chain data shared by Lookonchain shows the companies sent 25,000 SOL, worth around $3.3 million at the time, to the platform. Of the 3.03M $SOL($431.3M) unstaked by FTX/Alameda today, 24,799 $SOL($3.38M) has been deposited to #Binance.https://t.co/D4j4l4yNuFhttps://t.co/uLkjQFwVId pic.twitter.com/ig2Jl2CcXl — Lookonchain (@...

The cryptocurrency industry has witnessed the arrival and departure of several coins. After six whole years, the Pi Network finally rolled out its very own cryptocurrency. PI entered the market making headlines. Despite a steep decline upon launch, the price of the asset has subsequently risen, hitting a new all-time high of $2.98 on February 27. The real question is if the altcoin will continue this momentum and record an uptick in the coming month. Also Read: GTA 6 Update: ‘Developer’ Confirms 2025 Release and Leaked Map Insights A Look Into PI’s Current Market Source: Pintu PI started at a low of $0.6152 and managed to rise close to the $3 mark within a week of its launch. Throughout the past seven days, the altcoin has surged by nearly 200%. At the time of writing, the Pi Network fell prey to the overall market downtrend and was trading at $1.99. Over the past 24 hours, the asset witnessed a downfall of 25%. Source: CoinMarketCap While the asset is still new, exchanges are ske...

The Role of BNB Token in the Ecosystem BNB (Build and Build) token serves as the cornerstone of the Binance ecosystem, driving utility and fostering growth across multiple platforms and services. Originally launched as an ERC-20 token during Binance’s 2017 initial coin offering (ICO), BNB transitioned to Binance Chain in 2019 and now operates as the native token of the Binance Smart Chain (BSC) and Binance Chain. One of BNB’s primary functions is to power transactions on BSC, a high-performance blockchain enabling decentralized applications (dApps) and smart contracts. Users benefit from reduced transaction fees when paying in BNB, making it an attractive choice for developers and traders alike. BNB is also widely used within the Binance exchange for trading fee discounts, staking, and participating in token sales on Binance Launchpad. Beyond Binance’s platform, BNB has gained adoption in various real-world applications, including travel bookings, payment gateways, and enter...

1. Grayscale Launches Optimism and Lido DAO Trust Funds link Grayscale has announced the launch of the Optimism Trust Fund and the Lido DAO Trust Fund, offering investors opportunities to gain exposure to the Optimism and Lido DAO ecosystems. 2. Base Ecosystem Records $1 Billion Monthly Net Inflows, TVL Reaches $14.2 Billion link According to data from Artemis and L2Beat, the Base ecosystem has recorded a total cross-chain inflow of approximately $1.5 billion over the past month, with a net inflow of around $1 billion. The current TVL (Total Value Locked) stands at roughly $14.2 billion. The majority of inflows originated from Ethereum (87%, primarily in ETH) and Arbitrum (4%, evenly split between ETH and stablecoins). Further Analysis by Wu Blockchain researchers highlights key contributors to the TVL growth during this period: ETH bridged to Base increased from 800,000 to 1,000,000, adding approximately $1.3 billion. cbETH bridged rose from 30,000 to 45,000, contributing $75 million...

The XYO price skyrocketed 128% in the last 24 hours to trade at $0.02921 as of 02:09 a.m. EST on trading volume that soared 1,909% to $176 million. This comes a day after rumors online pointed to a potential partnership between the Decentralized Physical Infrastructure Networks (DePIN) project and electric vehicle giant Tesla. Confirmed. Next Thursday December 12th I'll be visiting a @Tesla hardware installation center for the $XYO cybertruck. #EarlyPhases #BuildXYO 🛠️👷🏻‍♂️🚀 — Scott P. Scheper 🗃️ (@ScottScheper) December 2, 2024 XYO Price On A Sustained Bullish Rally To The Upside The price has clearly broken out of a consolidation phase around $0.0088 and is trending sharply upward, moving significantly above key moving averages, according to GeckoTerminal This indicates strong bullish momentum.  The price of XYO is now trading well above both the 50-day and 200-day Simple Moving Averages (SMAs)...

1. Japan Advances Economic Stimulus, Proposes 20% Unified Cryptocurrency Tax link The Japanese government has announced plans to advance a new economic stimulus package, expected to receive approval by the end of 2024. The proposed tax reforms include changes to income tax, corporate tax, and cryptocurrency taxation. Currently, Japan’s policy on crypto taxes relies on a vague and fluctuating “miscellaneous tax,” which can levy up to 55% on transactions. Opposition parties are advocating for a standardized 20% tax rate on digital assets. 2. South Korea to Implement 20% Crypto Gains Tax in 2025 link South Korea’s ruling Democratic Party plans to enforce a 20% tax on cryptocurrency gains (22% including local tax) starting in 2025, without further delay. Additionally, the tax exemption threshold will be raised from 2.5 million KRW (approximately $1,795) to 50 million KRW (around $35,919). The revised bill is set to be voted on by the National Assembly’s Tax Subcommittee on November 25 and ...

The Act I: The AI Prophecy price skyrocketed 1,739% in the last 24 hours to trade at $0.4088 as of 05:49 a.m. EST on trading volume that surged 2,895% to $711 million, according to CoinGecko . This comes as Binance announced the listing of ACT with trading getting underway on Nov. 11 at 10:00 UTC. #Binance will list Act I : The AI Prophecy $ACT and Peanut the Squirrel $PNUT with Seed Tag Applied. Read more 👉 https://t.co/CmJRyTaS8I pic.twitter.com/1XHISDTOY9 — Binance (@binance) November 11, 2024 Act I: The AI Prophecy Price On A Sustained Surge The Act I: The AI Prophecy price, just before the Binance announcement, was trading within the $0.019 level, on a sustained consolidation phase, according to data from GeckoTerminal. The listing may have pushed the Act price on a parabolic rise and above both the 50-day and 200-day Simple Moving Averages (SMAs), which is a classic bullish confirmation signal. Moreover, the Relative Strength Index (RSI) has crossed above ...

Coinbase and Binance’s claims to offer zero-fee listings have been called into question by big-name players in the crypto industry who say both exchanges have charged tens of millions of dollars for listings.    Late last week, Moonrock Capital CEO Simon Dedic wrote on X (formerly Twitter), about a “tier 1” crypto firm that he says, after a year of “due diligence,” was told to pay a sum equivalent to 15% of its token supply to list on Binance. Dedic said, “Imagine paying $50–$100 million just for a CEX listing.” This prompted Coinbase CEO Brian Armstrong to proclaim, “Asset listings on Coinbase are free.” What followed was an industry-wide back-and-forth about the legitimacy of this statement.  Andre Cronje, Chief Technology Officer at Sonic Labs, weighed in to point out that Binance charged his firm nothing . “Coinbase has asked us for; $300 million, $50 million, $30 million, and more recently, $60 million,” he said. Tron creator Justin Sun also said ...

A UK teenager has been charged with terror offenses and banned from PlayStation online after allegedly offering to help Al Qaeda and other terrorist groups with crypto fundraising. According to the London Evening Standard, the 16-year-old boy from London is accused of offering his services to Al Qaeda and the Pakistani Taliban as an expert in crypto and cybersecurity.  A sum of $1,300 in cryptocurrency was allegedly raised by the boy for the terror groups. At Westminster Magistrates Court today the boy pleaded not guilty to five charges , including possessing documents that can be used to prepare acts of terrorism, terrorist training, and terrorist fundraising. Binance says it’s tough to catch terrorists because they use fake names Read more: British man says Welsh city could ‘look like Vegas’ if it dug up lost bitcoin Prosecutors say the boy is accused of being “ideologically supportive of Islamic terrorist groups,” and presenting himself as a crypto/cy...

According to a letter from the SEC’s enforcement division shared with Fortune, the agency’s investigation into Paxos regarding its Binance -branded stablecoin BUSD has concluded. Following a legal setback in the US District Court for the District of Columbia regarding the SEC’s claim that Binance conducted unregistered securities offerings of BUSD, Paxos has claimed victory. “The SEC staff determined it will not bring enforcement action against Paxos in connection with BUSD,” said Paxos in a press release. The SEC followed its customary Glomar response to media questions, telling Fortune simply that “the SEC does not comment on the existence or nonexistence of a possible investigation.” If the SEC chooses to not sue Paxos over its BUSD relationship with Binance, which seems likely, that victory was foreseeable since June 28, 2024. On that date, a senior judge of the US District Court for the District of Columbia dismissed the SEC’s complaint that Binance sold BUSD as an unregister...