cryptobusiness
Crypto exchange Binance unveiled a crucial announcement to users in the United Arab Emirates. After acquiring the VASP certificate from Dubai’s Virtual Assets Regulatory Authority, the trading firm has revealed how users can migrate to the licensed Binance FZE exchange. Next stage: account transitionMeanwhile, Binance unveiled the account transition process for UAE users on 26 June. Residents can now migrate their accounts from the global exchange to Binance FZE. Users should complete KYC authentication (requested via email) to qualify. They have up to 15 December 2024 for this transition. The...
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The Cardano (ADA) network encountered a distributed denial of service (DDoS) attack late on Tuesday. The perpetrators intended to steal assets staked on the blockchain. The attackers wanted to disrupt services by overwhelming the ADA network with massive spam transactions. Details show the incident began at block 10,487,530, where each transaction executed 194 smart contracts. The hacker spent 0.9 ADA for each transfer and filed blocks with immense transactions to overwhelm the blockchain. Nevertheless, the network faced no damage as developers successfully mitigated the incident. The Cardano ...
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The Solana Foundation launched the Blinks and Actions feature on the blockchain on Tuesday, connecting “Solana to the entire internet.” The new functionalities, designed to put cryptocurrency back into social media, will enable players to transact crypto on any website. That comes as the network looks to make digital asset transactions intuitive and more seamless. The move aims to democratize cryptocurrency trading through day-to-day internet usage. Any website with a URL can support this feature, making crypto accessible to any internet user. According to Solana’s head of engineering Jon Wong...
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The cryptocurrency market kick-started the week with bearish tendencies as Bitcoin plunged to $60K. While macro elements such as the Fed’s outlook on interest rates injured sentiments, updates about Mt. Gox liquidating BTC and BCH to repay creditors magnified market instability. However, Solana-based meme cryptos reversed the trend, and MAGA Puss ($PUSS) joined the market on June 26 to capitalize on the imminent solid recoveries. Solana meme tokens lead the upsideThemed digital tokens continue to outperform the market. While Bitcoin and Ethereum gained 1.13% and 0.89% in the past day, top Sola...
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Fetch.ai (FET) and Injective (INJ) defied the current bearish markets with significant price increases over the past day. Monday’s X post from Injective about “something brewing” with Fetch.ai catalyzed recoveries for the altcoins within the last 24 hours. Injective’s post feature the company’s logos with a wavy line connecting them. That indicates an exchange of data between the duo. Despite the few details, crypto enthusiasts interpreted the image as signaling a strategic partnership between Injective and Fetch.ai. Market responseWhile the community awaits further details on the planned alli...
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Cardano (ADA) has significantly boosted as renowned cryptocurrency analytics platforms Dex Screener and Dex Tools integrated the altcoin. Market analyst Crypto Capital revealed the optimistic updates to the Cardano community on Tuesday. Watch here: https://www.youtube.com/embed/NLyIymKFb0k?feature=oembed The deal will enhance Cardano’s visibility in the marketplace and attract new users to the blockchain. Meanwhile, the integration news comes as Cardano experiences increasing interest from crypto enthusiasts. Enhanced accessibility and visibility will help the ADA blockchain attract more inves...
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Ripple is reportedly in talks with Thai authorities to develop a retail central bank digital currency (CBDC). This is according to a letter sent to the Bank of Thailand by the blockchain payments firm. According to a letter circulating on X, Ripple’s intent was expressed in response to the Bank of Thailand’s 2021 discussion paper outlining the nation’s CBDC plans. Potential collaboration with ThailandIn its response, Ripple commended the Bank of Thailand for its role in the CBDC space. The firm also expressed its willingness to design and develop a retail CBDC for Thailand. The letter also sho...
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Two whales caught the crypto community’s attention with significant meme coin deposits to the crypto exchange Binance. The transactions triggered speculations among cryptocurrency enthusiasts. Are whales quitting to avoid upcoming declines? Whale moves SHIB & PEPE worth millions of dollarsAccording to Spot on Chain, wallet Ox42a moved 1.088 trillion Shiba Inu tokens (worth approximately $18.12 million) to Binance. The investors accumulated the assets in November-December 2023. Bears dominated the markets (at the time), and the trader’s dip-buy strategy worked. The whale made around $8 million ...
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Jump Crypto CEO Kanav Kariya has resigned after holding the position for six years. Meanwhile, Kariya plans to focus on portfolio companies and reconnect with his relationships and interests. “As for what’s next, I plan to stay engaged with the portfolio companies I’ve been most involved with and hopefully take some time to process the unbelievably eventful few years we’ve had. It’s also a greatly welcome opportunity for me to catch up on relationships and reading that I had set on the back burner.” While not highlighted in his latest statement, Kariya resigned after the US CFTC clamped down o...
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Solana was among the altcoins that outperformed during the latest market rally, with SOL-based meme tokens such as WIF, BONK, and BOME hitting new all-time highs. Solana’s market cap neared $90 billion in March as meme digital coins dominated trends. However, dynamics seem to have shifted as the metric nosedived in the past few months. The altcoin saw its market cap sliding by over $.4.80 billion within the last 24 hours, down from $61.99 billion to $57.21 billion. SOL price confirms the latest downward performance of the project. Bears have dragged the token from 6 June levels of $170 to toda...
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