Category: Cryptocurrency

Shiba Inu Burn Activity Slows as Market Weakness Weighs on SHIB

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Shiba Inu (SHIB) Has 500 Billion Left Until Historic Threshold Is Broken

Shiba Inu’s daily burn rate plunged 74% over the past 24 hours as only 2.69 million SHIB tokens were permanently removed from circulation, according to data from Shibburn. The burned tokens were worth roughly $13 at current prices, highlighting a significant slowdown in community burn activity. The latest data mark a notable decline from levels recorded earlier this week, with Shibburn data showing that 8.79 million SHIB tokens were burned on June 20, making the latest daily total considerably lower. Moreover, the slowdown extends beyond a single day and reflects…

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Bank of England Cancels Plans for Stablecoin Ownership Limits

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OKX secures EU payment license to expand stablecoin services

England’s central bank is easing its stablecoin restrictions following pushback from the cryptocurrency industry. The Bank of England (BOE) announced Monday (June 22) that it would not introduce the temporary holding limits on stablecoins it had been considering. Instead, the bank will apply a “temporary issuance guardrail” to “each systemic stablecoin,” initially set at 40 billion pounds. “This is a major milestone in delivering greater choice and innovation in UK payments. Innovation thrives on trust,” Sarah Breeden, the bank’s deputy governor for financial stability, said in a news release. “And…

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Morgan Stanley launches stablecoin offering through money market fund

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Morgan Stanley launches stablecoin offering through money market fund

Morgan Stanley’s investment management arm has launched “Stablecoin Reserves Portfolio,” an offering that allows stablecoin issuers to park the reserves backing their stablecoins in one of the bank’s money market funds while earning interest. The offering is part of the Morgan Stanley Institutional Liquidity Funds trust (MSNXX), which aims to preserve capital, provide daily liquidity and distribute income while maintaining a $1 net asset value, Morgan Stanley said on Thursday. “Developing innovative ways to work with stablecoin issuers is another step towards modernizing the financial infrastructure,” said Amy Oldenburg, head…

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KuCoin Launches KuCard in Australia via Mastercard Network

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KuCoin Launches KuCard in Australia via Mastercard Network

Cryptocurrency exchange KuCoin has officially launched its KuCard debit card in Australia, allowing users to spend digital assets at merchants within the Mastercard global network. The rollout, developed in partnership with Immersve, a principal member of the Mastercard network, enables eligible users to make purchases using cryptocurrency balances, which are converted into fiat currency at the point of sale. Crypto Payments Enabled Through Mastercard Rails KuCoin said eligible users in Australia can use supported digital assets for everyday purchases at Mastercard-accepting merchants, including through Apple Pay and Google Pay integrations.…

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Expert Says Cardano (ADA) is a Ticking Time Bomb

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Expert Says Cardano (ADA) is a Ticking Time Bomb

Cardano (ADA) has been consolidating over the past few trading sessions, but the current technical setup suggests that a significant price move may not be far off. Mintern, the self-described chief meme officer of Minswap DEX, shared an outlook on X from an unidentified expert trader flagging what they believe is an imminent breakout situation for the asset. Since January 2022, ADA has been trading within a horizontal channel on the weekly chart, a range it fell into after losing significant ground from its all-time high of $3.10 the prior…

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Shiba Inu Price in Focus as Shibarium Transactions Spike 1,500%

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Shiba Inu Price in Focus as Shibarium Transactions Spike 1,500%

Shibarium activity has accelerated sharply in recent days, drawing attention across the crypto market. The spike pushed daily transactions past key psychological levels, signaling renewed momentum. However, the underlying data indicates the surge may not reflect genuine user demand. Instead, network upgrades appear to have driven much of the recent activity. Shibarium Transactions Surge on Upgrade-Driven Activity Data from Shibariumscan showed that the Shibarium network recorded a rapid increase in daily transactions. Activity climbed from 650 transactions on March 22 to 10,940 by March 26. This marked a 1,583% surge…

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Mystery Whale Rapidly Accumulates 35 Million in XRP in Under Hour

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Mystery Whale Rapidly Accumulates 35 Million in XRP in Under Hour

The aggressive accumulation indicates a major player was in a sudden rush to secure a massive position across multiple top-tier exchanges. An unknown entity scooped up more than $35 million worth of XRP in less than an hour. According to market analyst Dom (@traderview2), the mystery buyer has used a peculiarly specific algorithmic strategy in order to disguise the massive entry. “This isn’t something you see often,” the analyst noted. The unidentified entity in question set up a sophisticated bot that ended up making a total of 156 identical purchases…

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Billionaire investor warns Bitcoin ‘will be lucky to survive’ quantum computing after this period

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Billionaire investor warns Bitcoin ‘will be lucky to survive’ quantum computing after this period

Canadian billionaire Frank Giustra has warned that Bitcoin (BTC) faces existential risks from quantum computing and artificial intelligence (AI). In an X post on March 8, the analyst said the cryptocurrency would be fortunate to survive the next five years. Giustra made the remark in response to a video clip featuring Block co-founder Jack Dorsey and Strategy executive chairman Michael Saylor. The clip, shared by Bitcoin infrastructure provider Maestro, shows Saylor emphasizing Bitcoin’s self-custody capability, which he said gives it ethical and moral superiority over most digital securities and supports…

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Russians move $129B in crypto yearly

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Russians move $129B in crypto yearly

Russia’s finance ministry and central bank are reportedly calling on the government to speed up the rollout of crypto market regulations amid a boom in digital asset adoption, claiming that citizens are spending almost 50 billion Russian rubles ($648 million) on crypto daily. According to a report from Russian news outlet RBC on Thursday, Russia’s deputy finance minister, Ivan Chebeskov, emphasized the importance of regulating the market, noting that most crypto spending occurs through unregulated channels. “We have always said that millions of citizens are involved in this activity, these…

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Binance’s Mastercard crypto card launches across CIS countries

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Binance’s Mastercard crypto card launches across CIS countries

Binance rolls out its prepaid Mastercard crypto card to select CIS markets, offering instant crypto-to-fiat payments, cashback rewards, and a Valentine promo amid scam warnings. Binance has launched its prepaid Mastercard crypto card in several Commonwealth of Independent States countries, marketing lead Anka Tsintsadze confirmed on Friday. The cryptocurrency exchange, the world’s largest by trading volume, made the Binance Mastercard available to verified users in select CIS jurisdictions including Armenia. The card allows users to convert bitcoin, ethereum, stablecoins and more than 100 supported tokens instantly into local fiat currency…

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