Category: Cryptocurrency

A trader has transformed an initial $12,000 investment into $1.05 million in just 10 days, primarily through the skyrocketing success of Pepe 2.0. What Happened: Data from Lookonchain shows that the trader initially allocated $90,000 to purchase 7.9 trillion Pepe 2.0 tokens, and subsequently sold 5.2 trillion of the meme coin for approximately $614,000. Pepe 2.0, a token largely introduced within the past week, positions itself as a new iteration of the popular Pepe Coin. Capitalizing on Pepe 2.0’s spike on June 28, the trader flipped $400,000 worth of Bitcoin…

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The European Commission on Wednesday released a proposal for a digital euro that would ensure free access to the CBDC across the bloc and establish a legal framework so that digital euro payments can be made from device to device, both online and offline. “The digital euro would be available alongside existing national and international private means of payment, such as cards or applications and it would work like a digital wallet where people and businesses could pay with the digital euro anytime and anywhere in the euro area,” the…

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As reported by Whale Alert, stablecoin issuer Tether has minted another billion USDT. The event came right in the midst of the Binance USD (BUSD) scandal, which the U.S. Securities and Exchange Commission is reportedly seeking to have recognized as an unregistered security. Tether’s CTO, Paolo Ardoino, was quick to announce to the public that the minting of a billion USDT is an authorized but unissued transaction. This amount will be used as inventory for issuance requests in future periods as well as chain swaps, Ardoino stressed. USDT and BUSD…

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Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset class wanes. On Jan. 4, it was reported that Michael Rubin’s sports company Fanatics was offloading its majority 60% stake in the NFT startup. Fanatics was started in 2011 and has become a known name in sports merchandising and e-commerce, valued at $31 billion. However, the crypto bear market has hit the NFT sector hard in 2022, and Rubin’s firm is seemingly now looking to turn away from “standalone” NFT…

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The Dogecoin price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk’s Twitter acquisition. Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, its biggest daily gain since April 2021. Notably, the memecoin’s massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE’s price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading…

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On Oct. 29, 2013, a coffee shop in downtown Vancouver, Canada, opened what is understood to be the world’s first publicly available Bitcoin ATM, operated by Robocoin. The crypto ATM saw 348 transactions and $100,000 transacted in its first week of operation. As of Oct. 30, 2022 — nine years and one day on — Robocoin has ceased operations and the first crypto ATM has likely been removed or replaced, but crypto ATMs have continued to increase in number with 38,804 cryptocurrency ATMs in existence today, according to Coin ATM…

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Bitcoin has seen record buying activity as BTC/USD returns to six-week highs. The latest data from on-chain analytics firm CryptoQuant shows more BTC leaving major exchange Binance in a single day than ever before. Despite warnings that a macro bottom may not yet have occurred, Bitcoin investors have wasted no time snapping up BTC above $20,000. The past two days’ gains delivered a sea change to exchange user behavior, with BTC balances dropping across the board. As the largest exchange by volume, Binance was of particular interest and saw a…

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Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced Tuesday it will let users hold and custody their own cryptocurrencies and NFTs in a separate, stand-alone app. It’s the latest move in the digital asset space for Robinhood as it reaches for growth beyond stock trading. The company shares are off more than 70% since its IPO. The new app will put Robinhood squarely in competition with Coinbase and start-ups like MetaMask. Coinbase CEO Brian Armstrong called his company’s product the…

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El Salvador has doubled down on its Bitcoin initiative, making the country’s largest purchase to date as the cryptocurrency sees a significant plummet in price over the past week. On Tuesday, El Salvador president Nayib Bukele announced via Twitter that the country has now acquired another 500 Bitcoins at an average price of $30,744 USD, marking a new low in purchase price for the Central American country which now owns 2,301 BTC. At current prices, the number equates to roughly $72 million USD, which was accumulated over a series of…

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Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market. In a Sunday opinion piece in political media outlet The Hill, McGuinness said the European Union and the United States could help lead the world in a regulatory approach for cryptocurrencies that considers the benefits of the innovative technology while addressing “significant risks.” The EU commissioner pointed to the volatility of certain assets, the risk of insider…

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Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases. Bloomberg reported on Monday that a resounding 60% of respondents to an Argentinian poll asked for more access to crypto, which catalyzed the banks’ decisions to begin allowing crypto trading. Affiliate at market research firm Americas Market Intelligence, Ignacio Carballo, tweeted confirmation on Tuesday with screenshots of Banco Galicia’s online interface that it had begun supporting Bitcoin (BTC), Ether (ETH), USD Coin (USDC) and Ripple (XRP) purchases. The South…

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Commission-free investment platform Robinhood has finally listed Shiba Inu (SHIB) after months of petitions and concern over whether crypto traders would ever see this day. The number of investors eager to buy Shiba Inu Coin has increased significantly after the revelation of the long-awaited listing. Notably, on April 12, the token saw a rush of capital, with $1 billion streaming into the digital asset in less than an hour. The dog coin spiked from $12.55 billion to $13.75 in just under an hour, adding $1.2 billion to its market capitalization,…

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Meta, the parent company of the world’s biggest social media network, Facebook, is planning to develop its own cryptocurrencies and virtual tokens for its suite of products. It has been clear to everyone where the journey is headed since the renaming of the parent company from Mark Zuckerberg’s Facebook to “Meta Platforms” (Meta for short). The aim is to enter the worlds of the Metaverse. The race to participate in the Metaverse has long been on and for purely digital companies like Facebook and the sisters under the Meta umbrella…

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