Tag Archives: AA News

The Open Network (TON) blockchain’s total value locked (TVL) has surged since early March, surpassing $600 million. Within just three weeks, it has doubled to reach a record high, showcasing rapid growth and investor confidence in TON’s decentralized finance ecosystem. TON’s TVL Hits $600 Million According to DefiLlama data, TON’s TVL surged to over $605 million on Monday. This milestone was achieved just three weeks after the network’s TVL first reached $300 million in late...

The price front remains quiet, but Ethereum scaling solutions appear to be thriving. The latest data suggests a surge driven by not just Layer 2 networks but lesser-known Layer 3 entities as well. According to L2beat, these scaling networks built on top of Ethereum have collectively reached over 246 TPS on June 16, representing a new all-time high. This, in turn, translated to an estimated 21.2 million transactions over the course of the day. A higher transaction per second...

Bitcoin has declined over the past several days as bears remained vigilant near $70,000. As a result, the premier cryptocurrency has shed more than 4% over the past week and was trading near $66,000 at the time of writing. Interestingly, wallets with 10 or more BTCs have collectively reached their highest holding level in two years. Data suggests that the absence of FTX’s influence may have potentially allowed the market to reflect demand more accurately. Whale Wallets Mirror...

In a report released earlier this week, Coinbase expressed concerns over the declining crypto talent in the US amidst the ongoing increase in general corporate interest. The largest US exchange highlighted the need for regulatory clarity around the crypto realm to keep the talent within the country. Declining Developer Talent in the US Coinbase notes a significant decline in US-based crypto developers, down by 14 points over the past five years to just 26% today. Top Fortune...

Events in the saga between Nigeria and Binance continue to unfold. This time, the country dropped tax charges against the exchange’s executives. According to a tweet by Nigerian journalist Alexander Onukwue, the Federal Inland Revenue Service (FIRS) of Nigeria has withdrawn the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for Africa operations. Binance Execs Free From Tax Charges In...

Bitcoin fell to a monthly low of $65,000 on June 14 and is currently down around 5% since the same time last week. However, zooming out to view the bigger picture shows that the asset is still consolidating where it has been since early March. “Bitcoin very rarely goes this quiet,” commented analyst James Check in a post on X on June 14. The 30-day price range is separated by just 8.3%, he added before stating: “There are two outcomes: 1) Bitcoin remains a stablecoin for a...

Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million. The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since the start of the year. $500M Not Enough Ever since August 2020, when it announced its first BTC purchase, the NASDAQ-listed business...

KuCoin exchange’s research arm released a report on cryptocurrency performance in May, noting $1 billion in new investments – a slight decrease from April. The report highlighted that institutional investors predominantly favored Ethereum and EVM-focused platforms during this period. $1 Billion in Investment Earlier this week, KuCoin Research published a report indicating that in May alone, the crypto realm saw a public disclosure of about 156 investments. The total amounts...

Blockchain intelligence firm TRM Labs has revealed that cryptocurrency deposits into crypto addresses linked to Chinese drug precursor manufacturers more than doubled in the first four months of 2024 compared to the same period in 2023. In 2023, Chinese precursor networks received over $26 million in cryptocurrency, with 97% of the over 120 manufacturers studied offering payment options in digital currencies. Bitcoin Dominates Transactions According to TRM Labs, the overall...

Bitcoin may have struggled to reclaim its position above the recently established all-time high of over $73,000, but prominent brokerage firm Bernstein remains optimistic about the asset’s future trajectory. In its latest report, Bernstein analysts even upped their long-term price forecast for BTC to $200,000 by the end of 2025. The firm had previously predicted the cryptocurrency to hit $150,000 that year. Bernstein’s Bold Predictions for Bitcoin The analysts attributed this...