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Storj Sees Bullish Momentum Amidst Onchain Activity, Makes Notable Gains

In the realm of decentralized cloud storage platforms, Storj (STORJ) has been making notable strides, experiencing a bullish trend over the past 30 days with gains reaching up to 27%.  However, recent onchain activity suggests a potential price decline following reports of increased selling by the project's development team. According to on-chain data from Spotonchain, the Storj developers executed a transfer of 2.5 million STORJ tokens to the Binance exchange just a few hours ago. This transaction amounted to approximately $1.88 million, conducted at a price of $0.753 per token. https://twitter.com/spotonchain/status/1759753843246792930?t=4s8JZQFXddGbEeHYD8cEWg&s=19 The recent move by the Storj team aligns with their previous actions, as they have deposited a total of 33.4 million STORJ tokens to Binance at an average price of $0.806, totaling $26.93 million. Interestingly, most of these deposits occurred prior to anticipated price drops, indicating a strategic approach […]

Will Izuchukwu February 20, 2024

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Ethereum Surges Past $2,900 As Dencun Update Anticipation Grows

The price of Ethereum (ETH) continues its upward trajectory, surpassing $2,900 with a gain of over 4% today. This surge comes amid heightened anticipation for the upcoming Dencun update, signaling growing interest and excitement within the cryptocurrency community towards the altcoin. Ethereum co-founder Vitalik Buterin's recent discussion on the potential applications of artificial intelligence (AI) in the cryptocurrency realm has contributed to the buzz surrounding ETH. Moreover, recent reports of whale accumulation of the token further align with the surge in ETH's price. Prior to today's price surge, on-chain data revealed significant activity from a massive whale, allegedly purchasing 32,002 $ETH ($90M) at an average price of ~$2,811 over the past 19 hours.  This activity included swapping 60M $USDT for 21,353 $ETH via 1inch and withdrawing 10,649 $ETH ($30M) from Binance. The subsequent withdrawal of $USDT used to purchase $ETH […]

Will Izuchukwu February 19, 2024

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Monero Faces Significant Decline Ahead Of of Binance Delisting

Monero (XMR) has experienced a substantial downturn in its value, with a staggering 10% decline observed today. This decline positions Monero as the daily loser on Coinmarketcap, coinciding with the looming deadline set by Binance, the largest cryptocurrency exchange, to halt trading of Monero's XMR by February 20. Withdrawals for the token will cease on May 20, 2024. https://twitter.com/metaryuk/status/1759575508403327481?t=RtlZpBMDNNe8OHU3Mt1g5Q&s=19 Binance's decision to delist Monero stems from a comprehensive evaluation process that considered various factors beyond market performance. In addition to assessing project team commitment, development activity, trading volume, network stability, and open communication, Binance also scrutinized evidence of incompetence or unethical behavior within the Monero ecosystem. Notably, Monero has drawn significant governmental scrutiny due to concerns surrounding its potential utilization in illicit activities, given its robust privacy features.  This regulatory spotlight has contributed to Binance's decision to delist the cryptocurrency, […]

Will Izuchukwu February 19, 2024

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Arbitrum: Driving Growth In DeFi’s Total Value Locked (TVL)

In the realm of decentralized finance (DeFi), Total Value Locked (TVL) serves as a pivotal metric, encapsulating the value of assets secured within DeFi protocols and smart contracts. It's a yardstick widely used to measure the popularity and adoption of various DeFi platforms. Arbitrum, an Ethereum Layer 2 scaling solution, has emerged as a key player in expanding DeFi's TVL. With its seamless integration and efficient scaling capabilities, Arbitrum has facilitated significant growth within the DeFi ecosystem. https://twitter.com/champagne_love3/status/1758156083615408358?t=iGNTrhjRKTpUnkpwCrEbwg&s=19 According to data sourced from the ETH Layer 2 Dashboard by intotheblock, Arbitrum commands more than 50% of the Ethereum transaction traffic, underlining its prominence in the DeFi space. Impressively, it boasts a total value locked of $2.7 billion across a diverse array of over 500 applications. GMX, Hyperliquid and Camelot Contributes To Arbitrum Adoption The recent surge in Arbitrum's adoption can […]

Will Izuchukwu February 16, 2024

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TRON Emerges As Premier Blockchain For USDT Transactions

The transaction volume of USDT on the TRON Network has been on a steady rise, consistently surpassing the $10 billion mark in daily on-chain transactions since October 2023. This trend underscores TRON's prominence as the top blockchain for USDT transactions, reflecting its reliability and efficiency in handling significant transaction volumes. https://twitter.com/intotheblock/status/1757769914574664102?t=547chw1Xby7TG3C0QxCfBg&s=19 The sustained growth in daily transaction volumes on TRON highlights the platform's resilience and appeal to users involved in USDT transactions. TRON's ability to consistently exceed the $10 billion threshold underscores its position as a preferred blockchain for users seeking a reliable and efficient platform for conducting transactions with USDT. https://twitter.com/Defimark7/status/1758023168688869754?t=cQhMpvVfad_VMIiAWwBDrg&s=19 TRON In Direct Comparison With Ethereum In contrast, Ethereum, another prominent blockchain network, only occasionally achieves the $10 billion transaction volume milestone for USDT. This discrepancy between TRON and Ethereum illustrates the distinct advantages offered by each blockchain, […]

Will Izuchukwu February 15, 2024

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DAI Leads Stablecoin Market with Over 50% Transaction Volume

The stablecoin market has experienced significant growth, witnessing an increase of $11.4 billion in market capitalization over the past four months. Notably, whale wallets holding $5 million or more have accumulated 2.32% of the top six stablecoins within just four weeks. https://twitter.com/santimentfeed/status/1757103402398662681?t=j6fihc8jt1YhUpl2FSUxaQ&s=19 Amidst this surge in stablecoin activity, DAI has emerged as the clear frontrunner in stablecoin transactions, processing more than 50% of all stablecoin volume over the past two weeks. This remarkable achievement underscores DAI's dominance in the stablecoin landscape, a position it has maintained since late 2023. The widespread adoption of DAI can be attributed to its reliability, transparency, and efficiency in facilitating transactions within the cryptocurrency ecosystem. Its ability to maintain stability while offering decentralized features has made it a preferred choice for users and developers alike. Stablecoin $DAI Continues Making Further Movements And Development https://twitter.com/PinnacleCrypt/status/1757313684685336886?t=6hNwR6-9xL1XMQmBV2hIlA&s=19 As […]

Will Izuchukwu February 14, 2024

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Kenetic Capital’s RNDR Holdings Cause Stir Amidst Market Rally

While the broader cryptocurrency market experiences a significant bullish trend, $RNDR has diverged, witnessing a decline of over 2% in the past 24 hours.  This unexpected movement follows reports from on-chain analytics firm Spotonchain indicating that Kenetic Capital has finalized the deposit of its remaining RNDR holdings onto Binance. https://twitter.com/spotonchain/status/1757582462891515935?t=JSywJl3O2cOFQYWcyiVstQ&s=19 According to the data provided, Kenetic Capital transferred the last 4.1 million RNDR tokens, valued at $20.4 million, to Binance at a price of $4.97, sparking a reaction among investors and market participants. Kenetic Capital's involvement with RNDR dates back to various strategic moves and transactions. As one of the largest institutional holders of RNDR, the firm has played a significant role in the token's journey within the cryptocurrency ecosystem. The timeline of Kenetic Capital's transactions reveals a series of strategic moves, including receiving 6.225 million old RNDR tokens from […]

Will Izuchukwu February 14, 2024

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Nervos Network’s CKB Token Surges Over 50% Following RGB++ Protocol Announcement

The cryptocurrency market witnessed a significant surge as Nervos Network's CKB token soared by more than 50% shortly after the release of RGB++, an extension protocol designed to integrate seamlessly with Bitcoin. In the past 24 hours, the trading volume of the CKB token skyrocketed by over 2000%, positioning it as the top daily gainer on Binance, a leading cryptocurrency exchange platform. https://twitter.com/busyforking/status/1757265775977730309?t=PdAm1SsHb0vjpC7qEKgd-Q&s=19 The introduction of the RGB++ Protocol marks a crucial milestone towards achieving mass adoption and sustainability for Bitcoin. Serving as an extension of the RGB protocol, RGB++ incorporates innovative features such as single-use seals and client-side validation techniques to efficiently manage state alterations and transaction verification. By addressing technical hurdles encountered during the implementation of the original RGB protocol, RGB++ opens up a multitude of possibilities for blockchain technology. These include blockchain-enhanced client validation, transaction folding, shared […]

Will Izuchukwu February 14, 2024

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Dogecoin Faces Declining Trading Activity Amid Market Shifts

Dogecoin, once a prominent figure in the top 10 cryptocurrencies by market capitalization, is currently experiencing a decline in trading activity, signaling a potential waning of investor interest. This shift has coincided with Dogecoin's displacement from the top ranks, being surpassed by ChainLink. Noted analyst Ali Martinez observes a reduction in Dogecoin's transaction volume and whale transaction count, key indicators of decreased trading activity. The dwindling engagement with Dogecoin implies that fewer investors are participating in buying, selling, or transferring DOGE, hinting at a possible dip in confidence or interest in the meme-inspired cryptocurrency. https://twitter.com/ali_charts/status/1756960045944688989?t=G9COhtPjur4OMBeXzNBN_Q&s=19 The shift in Dogecoin's market dynamics is further emphasized by its recent fall from the top 10 cryptocurrencies. ChainLink's ascendancy in market capitalization has eclipsed Dogecoin, reflecting changing sentiments among investors. Doge Price Action To Watch The observed decline in whale activity and transaction volume […]

Will Izuchukwu February 12, 2024

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COTI Emerges As Top Gainer With 39% Surge On Binance

COTI, a pioneering Blockchain protocol optimized for decentralized payments, has made significant waves as one of the leading daily gainers on the renowned cryptocurrency exchange Binance, boasting a remarkable 39% surge within just 24 hours. The platform has been buzzing with activity throughout the week, witnessing a staggering 77% increase in value over the past seven days alone. Amidst this flurry of activity, COTI has achieved a pivotal milestone with the release of COTI V2. COTI's transition to an Ethereum L2 platform with a focus on privacy marks a monumental shift for the community. The success of COTI V2 is paramount, given its ambitious development schedule and stringent project deadlines. https://twitter.com/COTInetwork/status/1755568898965963117?t=AZwRTT3QHRiL2-AEo7BA5A&s=19 Months of dedicated development efforts have culminated in the successful design and integration of the Multi-Party Computation (MPC) protocol within COTI V2.  MPC represents a groundbreaking advancement in cryptography, […]

Will Izuchukwu February 9, 2024

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