Crypto Market Notches 12% Weekly Gain As Old-School Financial Firms Come Out To Play - cyptoranking.com

2024-05-10

Popular crypto exchanges(2023 Update) 2024-05-10
Image: cyptoranking.com

The HOT price is approaching the point of convergence between the support and resistance trendlines. So, a decisive movement outside of the pattern is expected soon. Binance Exchange announced the delisting of its XRP/BUSD in a blog post today. The news comes just days after XRP recorded its lowest transactional activity for 2023. Crypto Market Notches 12% Weekly Gain As Old-School Financial Firms Come Out To PlayMeanwhile, other crypto influencers have closely examined Lewis’ depiction of SBF recently. Under the amendments, every service provider working with crypto assets must register with the financial regulator, the Cyprus Securities and Exchange Commission (CySEC). In case of non-compliance, the penalties will vary from fines of up to €350,000 to imprisonment of up to five years or a combination of both.

Exchange Rankings Crypto
Image: cyptoranking.com

PitchBook analyst Robert Le believes: “Imagine a world where you have two games. They have the exact same experience, but one of them has ownership. Which one are you going to play?” Anderson said. Best Decentralized Exchanges of 2023- Top DEXs for ...And so while for VR46 Metaverse, the goal is to increase existing activations on other Web3 and metaverse platforms, for the other two the goal is to expand into the automotive and motorsports segments. As a co-founder of the Ethereum blockchain, Joe Lubin’s footprint is all over the world of crypto.

However, both whales and individual wallets deposited large amounts of their unstaking LQTY tokens to CEX. Among these, Gnosis Safe Wallet particularly attracted attention by depositing $1 million ($1.44 million) to Coinbase 18 hours ago. This wallet has deposited a total of 27.2 million LQTY ($28.7 million) into centralized and decentralized exchanges in the last two years. With the emerging use of blockchain technology, Dubai has been evolving as a hub for crypto use. A study by the Telecommunications and Digital Government Regulatory Authority (TDRA) stated that around 11.4% of UAE residents have invested in crypto. On the other hand, Dubai’s Virtual Assets Regulatory Authority (VARA) is responsible for licensing and regulating virtual asset providers in the emirate and its free zone territories. Additionally, local officials gave Crypto.com a provisional license and approved the establishment of FTX’s regional offices. The move will allow Crypto.com to offer a full suite of crypto exchange products and services. It is noteworthy that the UAE was the first country in the world to establish a specialized regulator for the virtual asset industry. Best No-Fee Crypto ExchangesRiot Platforms, another player in the Bitcoin mining sector, reported a 9% increase in Bitcoin production for September, mining 362 BTC. Interestingly, Riot Platforms adopted a strategy of strategically curtailing mining operations while benefiting from a long-term contract in which they sell pre-purchased power to their utility provider at market-driven spot prices, receiving power curtailment credits. Unlike zero-knowledge (ZK) technology, Fairblock is designed so that information is only encrypted or decrypted under certain conditions.

Bitcoin SV Price Prediction as BSV Outperforms Bitcoin – Are Whales Now Moving to BSV? And so while for VR46 Metaverse, the goal is to increase existing activations on other Web3 and metaverse platforms, for the other two the goal is to expand into the automotive and motorsports segments. FTX Exchange Review-Top Rated Crypto Derivative ExchangeXTZ, ATOM, STX, KLAY, and OKB are the top 5 gainers on CoinMarketCap. Source: AdobeStock / REDPIXELDecentralized social network Friend.tech has generated over $1 million in fees within just 24 hours of its release, outperforming well-established players like Uniswap and the Bitcoin (BTC) network.According to data from crypto data aggregator DefiLlama, Friend.tech has generated $1.12 million in fees within a single day, and a total of $2.8 million since its inception. As of now, the platform has accumulated $818,620 in total project revenue, facilitating over 650,000 transactions on the social platform with more than 60,000 distinct traders. The driving force behind this project is believed to be a developer operating under the pseudonym Racer. Racer has previously designed social media networks such as TweetDAO and Stealcam, both of which were based on non-fungible tokens (NFTs). With Friend.tech, Racer aims to attract crypto influencers with substantial fan bases, providing them the opportunity to earn royalties from trading fees. Additionally, the platform is also seeking to strengthen relationships between Web3 projects, venture capitalists, and important figures in the crypto industry.Launched as a beta version on August 11, Friend.tech allows users to tokenize their social networks by purchasing and selling "shares" of their connections. This feature enables individuals who acquire someone else's share to communicate privately with each other. Friend.tech applies a 5% fee on transactions, with the owner profiting from the trade spread. The project is built on Coinbase's layer-2 network Base.Friend.tech's Huge Success Sparks ConcernsThe massive success of Friend.tech has sparked discussions about its revenue model, risks, and future potential. Ignas, a pseudonymous DeFi researcher, has pointed out that the platform's current business model relies solely on trading fees and does not consider the number of shareholders involved. Additionally, he raised concerns that controversial personalities might exploit the system to earn higher fees or even use fear, uncertainty, and doubt (FUD) as a strategy. "So controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees," the user said. Lux Moreau, the founder of Talk.Markets, also emphasized that the increasing prices of shares may lead to the formation of smaller groups or alternative group creations within the platform."As shares get sold, the prices also significantly increase. For example, the 500th member pays around 15.6Ξ, the 250th member pays 3.9Ξ, and the 100th member pays 0.625Ξ," the crypto veteran said in a tweet last week. More worryingly, Twitter user Spot On Chain has noted that Friend.Tech’s API can be used to extract sensitive data from the platform, like showing the wallets created by the users. Soon after the tweet, a core developer for Yearn Finance, published a list of 101,000+ users with their wallet address and Twitter username. Additionally, the developer claims that every user on the platform had (unknowingly) given Friends.Tech permission to post on their behalf on Twitter.DeFi Lender Exactly Protocol Exploited For $12 Million

Have an opinion on this story? Share it!