Day: January 16, 2024

$2B in dormant Bitcoin (BTC) moved after 5 years: Arkham

According to Arkham Intelligence, $2 billion in dormant Bitcoin (BTC) has moved for the first time in five years.
What next for Bitcoin as Grayscale also moves 9,000 BTC to a crypto exchange?

Arkham Intelligence has reported the movement of $2 billion worth of dormant Bitcoin (BTC) – also just before the US markets opened today. It’s the first time these coins have moved since 2019.

$2 BILLION of dormant Bitcoin moved just before the US market opened today, across several linked addresses. The BTC had moved once in 2019, and before that had been dormant since 2013. Historically these Bitcoins have all moved at the same times and dates. They were consolidated today from 49 addresses into 5 new addresses, each now holding between 8K-12K BTC ($380M-$480M per address),” the blockchain security and market intelligence platform posted on X.

$2 BILLION of dormant Bitcoin moved just before US market open today, across several linked addresses.

The BTC had moved once in 2019, and before that had been dormant since 2013. pic.twitter.com/xD4frjzQuP

— Arkham (@ArkhamIntel) January 16, 2024

Arkham’s report came as BTC battled sell pressure amid the latest movement of Bitcoin linked to Grayscale, the company behind the Bitcoin Trust (GBTC) fund. Grayscale reportedly moved 9,000 BTC worth over $385 million on Tuesday.

9000 BTC ($385M) moved from Grayscale wallets in the past hour.https://t.co/K7P3NmGZFH pic.twitter.com/MUpy3kGkoq

— Arkham (@ArkhamIntel) January 16, 2024

The company’s BTC transfers occurred in several batches of 1,000 coins each and totaled over $385 million. Blockchain sleuth Lookonchain noted that Grayscale sent the Coins to Coinbase Prime.

Last week, wallets linked to Grayscale transferred 4K bitcoins to the exchange, per data Lookonchain shared on Friday January 12. These BTC movements have come as outflows from GBTC hit the market following the SEC’s approval of spot Bitcoin ETFs. 

Bitcoin price was poised at $43,071 early afternoon. Are these BTC movements set to inject new sell pressure on the benchmark crypto?

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Chainlink and Circle join forces for seamless cross-chain USDC transactions

Chainlink integrates Circle’s CCTP into CCIP, enhancing USDC for cross-chain DeFi transactions.
Developers gain tools for secure USDC transfers with CCTP’s permissionless on-chain utility.
CCIP’s advanced risk management features bolster security in decentralized applications.

In a groundbreaking collaboration, decentralized oracle network Chainlink has partnered with Circle to integrate Circle’s Cross-Chain Transfer Protocol (CCTP) into Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

This integration is set to revolutionize how developers build and execute cross-chain transactions involving USDC, a stablecoin gaining prominence in decentralized finance (DeFi).

Unlocking cross-chain potential with CCIP and CCTP

Chainlink and Circle united to enhance the capabilities of USDC for cross-chain transactions, providing developers with powerful tools to build secure applications. With the integration of CCTP into CCIP, the duo opens up new dimensions for decentralized applications (dApps) that require seamless USDC transfers across multiple blockchain networks.

Developers within Chainlink’s extensive blockchain ecosystem now have the means to leverage the advanced risk management features of CCIP. Sergey Nazarov, Co-Founder of Chainlink, expressed his enthusiasm for the role CCIP will play in meeting user requirements for secure and efficient USDC transactions.

Secure and capital-efficient cross-chain transfers

CCTP’s permissionless on-chain utility is a key feature, empowering developers to offer users a secure and capital-efficient method for transferring USDC across diverse blockchain networks. The emphasis on defence-in-depth security infrastructure, including the Risk Management Network and level-5 security measures, addresses the industry’s past challenges related to insecure cross-chain operations.

This integration comes at a crucial time, where decentralized finance (DeFi) is gaining momentum, and interoperability across blockchain networks is becoming increasingly vital. Chainlink and Circle’s partnership represents a significant step towards addressing these industry needs, providing developers with the tools to create applications that facilitate smooth and secure USDC transactions across chains.

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EU banking watchdog strengthens AML measures for crypto firms

EBA extends AML guidelines to CASPs, addressing ML/TF risks in crypto transactions.
Guidelines provide risk factors and mitigating measures, urging blockchain analytics use.
Interconnected financial sector necessitates guidance for institutions dealing with CASPs.

In a momentous move to combat financial crimes, the European Banking Authority (EBA) has extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to encompass crypto-asset service providers (CASPs).

The new guidelines, effective from December 30, 2024, aim to harmonize anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts across the European Union (EU).

EBA guidance for crypto-asset service providers

The EBA’s latest directive emphasizes the growing risks associated with crypto transactions, underscoring the potential for abuse in terms of money laundering and terrorist financing. CASPs, involved in crypto-asset transfers, face heightened risks due to factors like transaction speed and features that may conceal user identities.

To address these risks, the EBA’s Guidelines provide a comprehensive list of risk factors, guiding CASPs in identifying vulnerabilities in their customer base, products, delivery channels, and geographical locations.

To effectively manage these risks, CASPs are encouraged to adopt mitigating measures, including the use of blockchain analytics tools. The EBA’s approach acknowledges the interconnected nature of the financial sector, extending guidance to other credit and financial institutions with CASPs as customers or exposure to crypto assets. This additional layer of oversight becomes crucial, especially when engaging with non-authorized crypto-asset service providers.

EU’s broader regulatory framework

The EBA’s extension of the ML/TF Risk Factors Guidelines aligns with the EU’s broader regulatory framework, emphasizing a risk-based approach to AML/CFT. The regulatory landscape includes the Markets in Crypto Assets (MiCA) legislation, the Financial Action Task Force (FATF) recommendations, and directives such as (EU) 2015/849 and (EU) 2023/1113.

The guidelines mandate competent authorities to report compliance within two months after translations are published in official EU languages. These initiatives reflect the EU’s commitment to addressing money laundering and terrorist financing risks in the crypto sector, ensuring alignment with international standards.

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Sui Tops $300M in TVL, Passes Bitcoin and Joins Upper Echelon of DeFi Protocols

Grand Cayman, Cayman Islands, January 16th, 2024, Chainwire

2000% increase in TVL and superior technology are causing builders to choose Sui, most recently, top lending protocol, Solend.

Sui, a leading Layer 1 blockchain created by the team that led Meta’s Diem stablecoin project, has surged past $300M in Total Value Locked (TVL) continuing to climb the ranks of DefiLlama’s leaderboard. This sudden milestone underscores the ecosystem’s rapid ascent and further solidifies Sui’s position as a leader in the DeFi space, surpassing Bitcoin to make it the 13th-largest blockchain in terms of TVL. This achievement marks a more than 2000% increase in TVL since August.

“$300 million in TVL is a significant milestone—one in a string of achievements the Sui ecosystem has reached only months since mainnet launch,” said Greg Siourounis, Managing Director of the Sui Foundation. “As market sentiment strengthens and focus turns to the fundamentals of the technology, it is extremely gratifying to see the work of the Sui community bear fruit and Sui’s ecosystem growth leading the industry forward.”

Besides reaching this important TVL result so soon after launching its mainnet, other recent milestones achieved by Sui include surpassing $100 million in bridged USDC, handling the most transactions in a single day by any blockchain, and achieving a demonstrated TPS of 297,000 transactions per second all without any disruption of the network or a spike in fees—clearly demonstrating the chain’s ability to scale.

The protocols contributing to Sui’s DeFi TVL are led by the Decentralized Exchange (DEX) Cetus with $62M locked in, followed by Navi Protocol ($60M, up 210% over the last 30 days), Scallop Lend ($54M), DeepBook ($33M), and FlowX Finance ($31M).

During the past few months, the Sui ecosystem has welcomed many new projects building on its blockchain. Solend—a leading lending protocol on Solana—just announced its intention to expand to Sui as its first alternative ecosystem with its upcoming Suilend, while Bluefin, a leading derivatives trading protocol that began on Arbitrum, recently shuttered its Arbitrum implementation to devote the entirety of its resources to leveraging the uniquely performant Sui platform.

Sui has also achieved some remarkable technology and infrastructure breakthroughs. After the September launch of zkLogin—which allows users to create and access Web3 wallets by simply using web2 social credentials like Google and FaceBook—the recent launch of zkSend represented a pioneering effort to make Web3 transactions as easy as sending an email.

Thanks to its object-centric model and powerful infrastructure, Sui’s unparalleled potential for mass adoption arises from its simplicity for developers, scalability, and rapid transaction processing for broader use cases.

 

Contact

Sui Foundation
media@sui.io

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Massive Dogecoin Trade Ahead of Moon Mission; InQubeta Presale Exceeding Forecasts with Over $8M Raised

In the fast-paced world of crypto for beginners, two names are currently dominating the headlines: the Internet’s favorite canine-inspired coin, Dogecoin (DOGE), and the rising star of the blockchain scene, InQubeta (QUBE)

As Dogecoin takes a brief nap after a stellar surge, gearing up for a lunar landing, InQubeta is stealing the spotlight as one of the best cryptocurrency for beginners. Its presale is exceeding all forecasts, raising a whopping $8.2 million. 

Let’s take a deeper dive into these two digital assets.

Riding the Waves: Dogecoin’s Recent Performance

In the aftermath of its 10th anniversary celebration that took Dogecoin to a high of $0.10 on December 11, the crypto has experienced a modest pullback. The daily and weekly charts indicated a gradual decline, with the price going below the MA 50 at $0.08.

Despite suffering consecutive weeks of losses since early December, Dogecoin bulls might be preparing for a comeback. On January 8, a physical Dogecoin was launched into space and was set to land on the moon via Astrobotic’s Peregrine Lunar Lander inside a DHL MoonBox. Unfortunately, there were complications and the attempt had to be abandoned.

The meme coin’s connection with lunar activities isn’t new, with Elon Musk proposing a Doge-1 spacecraft to the moon funded entirely by Dogecoin back in 2021. However, not everyone is caught up in the hype. Renowned developer Mishaboar reminds the Dogecoin community to approach special events with caution, emphasizing that crypto markets are often theaters for pump-and-dump events. So, while the moon mission added an exciting twist, staying grounded remains key.

InQubeta Presale Exceeding Forecasts with Over $8M Raised

Now, let’s shift gears to the rising star that’s stealing the spotlight in the best cryptocurrency arena: InQubeta (QUBE). This newcomer is making waves with its unique fusion of AI and blockchain technology, earning a spot on the top ICO list of many crypto aficionados.

InQubeta’s Unprecedented Success

InQubeta’s presale is currently in Stage 7, offering QUBE tokens at an attractive price of $0.0224. The project has exceeded expectations, having already raised a staggering $8.2 million. And with over 721 million tokens in the hands of early investors, it’s gaining momentum. Get ready for the next stage, where the crypto ICO token price is set to rise to $0.0255. This is your cue to jump in before the next surge.

AI Meets Blockchain: InQubeta’s Game-Changing Approach

InQubeta (QUBE) is turning heads by shaking up the AI scene, being the first ever crowdfunding platform for AI startups powered by crypto. It’s unlocking the doors to AI investments, making it accessible to everyone, not just the big players. InQubeta is transforming investment opportunities into trending NFTs, allowing individuals to grab a piece of the AI action and join the money-making party.

The Benefits of Holding QUBE Tokens

Investors are in for a treat with InQubeta’s staking mechanism. Holders can stake their tokens in a dedicated staking pool funded by a buy-and-sell tax, earning additional returns. It’s a win-win situation, as the reduced token supply and increased demand could lead to a potential price surge over time.

With a community-based platform, investors also gain governance rights, allowing them to propose and vote on decisions. This ensures a collaborative and transparent environment.

Conclusion: Seize the Opportunity with InQubeta

In the dynamic world of cryptocurrencies, opportunities arise when you least expect them. Dogecoin’s failed lunar attempt added a dash of excitement, but don’t overlook the real game-changer – InQubeta (QUBE). With its successful presale, innovative approach to AI investments, and enticing token prices, it stands out as one of the best cryptocurrency to buy now for 2024.

Dive into the crypto revolution with InQubeta. Visit their website for more details, or join the community on Twitter for updates. The future of AI investments is here, and it’s time for you to be a part of it. 

Visit InQubeta Presale 

Join The InQubeta Communities

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Crypto drops, NuggetRush resilient as it raises over $1.6 million

TLDR:

Crypto markets experienced drops as the week closes after historic regulatory developments.

NuggetRush (NUGX) gathers more momentum, raising over $1.6 million in the ongoing presale, primarily because of what the project seeks to present to the broader crypto and blockchain communities.

Investors scramble to digest the impact of the Bitcoin ETF approval and uncertainty about its impact on the general trajectory of the industry.

The first two weeks of 2024 have brought significant market action, culminating in a drop in the past few days. Market participants are also looking into resilient projects, with emerging candidates like NuggetRush (NUGX) proving to be credible alternatives as its ongoing presale is a notable attraction for cryptocurrency ICO enthusiasts.

Bitcoin and Ethereum prices momentarily reached highs not seen in over a year after news of the Bitcoin Exchange Traded Fund (ETF) approval broke. Notably, prices have since corrected, with Bitcoin losing all gains it made earlier in the week.

Meanwhile, NuggetRush continues to prove a hit, raising over $1.6 million in only a few weeks of its ongoing presale. This project has unique features that draw crypto enthusiasts and investors alike.

>> Buy NuggetRush Now <<

Crypto market drops

Seasoned crypto traders are used to the volatility of crypto markets. This week was no different, as several top altcoins displayed the typical rollercoaster ride through the week. 

The drop was particularly significant, noting that it came in the same week that Bitcoin ETFs received a historic approval. 

The market is likely experiencing a reset from a phenomenon called “sell the news.” This term refers to crypto owners selling their assets following a positive development. 

Accordingly, more people may have priced in the ETF approval and placed sell orders in anticipation of mountain loads of money flowing into the sector than the initial pump from the ETFs. 

At press time, Bitcoin, Ethereum, and Dogecoin had all experienced dips, with Bitcoin falling to about $41,000. 

The crypto market capitalization is approximately $1.68 trillion per CoinMarketCap.com data, a slight drop from its midweek spike. This figure will make for an interesting read as the enduring impact of this week’s developments becomes more evident.

It is too early to assess the long-term impact of Bitcoin ETFs, and experienced market observers know better than to overreact to short-term cycles. Notably, Bitcoin also has a halving event coming up this year, which will influence its price.

NuggetRush presale surging: $1.6 million raised so far

As the markets continue to digest the regulatory developments, the NuggetRush presale continues to confound expectations. This ERC 20 token continues to post impressive early returns in the ongoing presale. 

As of Jan. 13, NuggetRush has realized $1.6 million from over 149 million NUGX tokens. The token acquisition rate is indicative of the tremendous interest in the project presale. 

NuggetRush introduces a fascinating play-to-earn (P2E) game that harnesses the power of NFTs to create a community-driven robust platform.

The presale is currently in round 4, with NUGX trading for 0.015 USDT. NuggetRush has structured its presale to favor early participants continually. Those who initially invested have realized a 50% profit from their initial investment in Round 1 of the presale.

Early adopters could see up to 100% upside for their investments before NUGX lists on major exchanges, given their pivotal role in breathing life into the project.

This trajectory has validated project supporters who view NUGX as one of the best crypto to invest in in 2024. 

NuggetRush has an elaborate whitepaper outlining the project vision for a rewards-based ecosystem and utility value. The project intends to transform the facade of memecoins by creating actual value for its participants. 

Users can have fun and earn in the course of gameplay and leverage one of the best NFT collections in the sector. NFT collectors can also stake their gaming items for up to 20% APY in NUGX. 

The platform lives up to its name by offering the rare opportunity to redeem the most exclusive NFTs on the platform for real gold. Earning the redemption entitles the winner to direct delivery of the NFTs to their location.

>> Buy NuggetRush Now <<

Conclusion

The upheaval in the crypto market is typical of any significant regulatory development. Regardless, the outlook for the crypto market still remains positive. Investors are increasingly looking at emerging alternatives like NuggetRush to diversify their portfolios with potential upside.

As the impact of the ETF approval becomes more apparent, the market is likely to pick up, with assets like NUGX leading the way.

Visit the NuggetRush Presale Website

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OKX secures VASP license from Dubai’s VARA

The VASP license remains non-operational until OKX fulfills specific conditions.
However, once granted, it will allow OKX to offer virtual assets exchange services to institutional and qualified retail customers.

Crypto exchange OKX has announced that its subsidiary, OKX Middle East Fintech FZE, has received the Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

The VASP license will allow OKX Middle East to offer its regulated virtual assets services and products, including spot trading pairs to qualified customers, the company said in a press release.

 “This license was a crucial step for OKX as we move from a trust-based system to one that is trustless and empowers users to take control of their financial future. Dubai is an important market for us, and we’re excited to build strong relationships with our users and contribute to the development of its crypto and Web3 ecosystem,” OKX global head of government relations, Tim Byun noted.

VASP license currently non-operational

According to OKX, the license is currently non-operational as the exchange looks to fully satisfy “all remaining conditions and select localisation requirements defined by VARA.” Once it meets the re-verification and approval requirements, it will commence its operations.

This license is a game-changer. Once operational approval has been received, the VASP Licence will allow OKX Middle East to offer regulated virtual asset exchange services activities including spot and fiat trading services, AED deposits and withdrawals, and spot trading-pairs. These services will be available to retail and institutional users in-market via the OKX App and OKX.com Exchange,” said Rifad Mahasneh, General Manager at OKX MENA.

OKX’s expansion efforts have included application for registration as a Digital Asset Service Provider (DASP) in France and plans for an office in Türkiye

The exchange also recently appointed Guilherme Sacamone as the General Manager for OKX in Brazil.

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Tether challenges UN report on USDT’s use in illicit activity

Tether says the UN report and analysis ignored the fact that USDT is traceable on the blockchain.
CEO Paolo Ardoino says the stablecoin issuer will continue to collaborate with law enforcement and other parties, including the UN.

Tether has responded to a United Nations report that identified the USDT stablecoin as widely used in money laundering, organised crime and other illicit activity in the Southeast Asia region.

The crypto company, whose USDT is the world’s largest stablecoin at $95 billion today, says its “disappointed in the UN’s assessment.”

We are disappointed in the UN’s assessment that singles out USDT highlighting its involvement in illicit activity while ignoring its role in helping developing economies in emerging markets, completely neglected by the global financial world simply because servicing such communities would be unprofitable for them,” Tether wrote in a blog post published January 15.

Tether says UN report ignores traceability of USDT

The UN warned in a report published Monday that Tether had become the most prominent vehicle for illegal transactions, particularly through unregistered online gambling platforms. 

According to a report by the Financial Times, the UN also identified USDT’s role in underground romantic scams dubbed “pig butchering.”

In November last year, the US Department of Justice seized $9 million worth of USDT linked to a pig butchering scheme. Tether had earlier announced it froze $225 million in USDT, with the funds linked to a human trafficking ring in the SEA region.

In its response to the UN report, the company has reiterated its collaboration with law enforcement and also stated that Tether transactions are traceable on the blockchain, making it an ‘impractical choice for illicit activities.”

The UN’s analysis ignores the traceability of Tether tokens and the proven record Tether has of collaborating with law enforcement. Rather than focusing solely on risks the UN should also discuss how centralized stablecoins can improve anti-financial crime efforts,” the stablecoin issuer added.

In a comment posted on X, Tether CEO Paolo Ardoino said there’s need for blockchain education at all levels. The firm also welcomes further collaboration, including with the UN, he noted.

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Assessing Crypto Options Beyond Chainlink and TRON: Spotlight on Rebel Satoshi

TLDR

Experts in Chainlink (LINK) predict an upward surge in LINK price following a bullish trend.

TRON (TRX) is on a bullish run and is predicted to rise to $0.1085 as one of the top altcoins to buy.

Rebel Satoshi ($RBLZ) to continue its run as the top ICO alternative.

While Chainlink and TRON saw new integrations as top DeFi projects, one of the new ICOs, Rebel Satoshi — an ascending force in the crypto domain — has been the true revelation over LINK and TRX. Let’s look at the most recent events in LINK, TRX, and $RBLZ.

LINK Climbs as Chainlink Unveils Product Update to End 2023

Chainlink created headlines in the cryptocurrency world on December 19, when it released its much-anticipated Q4 product update. The comprehensive update included a detailed status report for the year 2023 as well as a view into the Chainlink network’s future.

The price of LINK on December 19 was $14.05 which has now risen to $14.86 on January 10, which signifies a 5.76% increase in price. Experts in Chainlink analysis have predicted that the price of LINK could see a further rise and is expected to reach $15.95 by the end of January.

Other analysts are however skeptical about the slow bullish trend and have predicted that market factors could affect the price of LINK, bringing it down to $14.45 by the end of January.

TRON Price Prediction: Experts Have A Bullish Forecast For TRX 

TRON had an end-of-year session on December 21 to discuss important highlights and successes from 2023, as well as a look ahead to what the TRON community might expect in the coming year. TRX has seen a small increase since then.

The price of TRON on December 21 was $0.1046 and has since risen to $0.1058 over the next three weeks, signaling a 1.15% increase. Experts have observed the ecosystem and believe that the price of TRX is on course to hit $0.1085 by the end of January.

Conversely, some analysts, citing historical price patterns, believe that the TRX price could see a downward trend and have pitched the price to fall to $0.1052 by the end of January.

Rebel Satoshi Leads as the Top Blockchain ICO in Terms of Establishing a Defiant Community

Rebel Satoshi has emerged as the top ICO alternative, generating substantial support during its presale period. While industry heavyweights grapple with market dynamics, Rebel Satoshi continues to make considerable developments, positioning itself as one of the top altcoins poised for large profits in early 2024.

The native coin of the Rebel Satoshi platform, $RBLZ, is gaining traction as a token promoting a just cause. Through features such as staking rewards, unique NFTs, governance, and membership roles, Rebel Satoshi hopes to develop a rebellious community that favors decentralization.

Following a dramatic increase in $RBLZ’s popularity during the Early Bird Round of its public presale, which sold 25 million $RBLZ tokens in three weeks, Rebel Satoshi entered Rebels Round 1, which sold out in ten days. The price of $RBLZ is currently $0.022, reflecting a 120% increase, in Monarchs Round 4 of the presale.

Analysts in the cryptocurrency sector now predict a price gain of more than 13% for $RBLZ, with a price of $0.025 per $RBLZ at the end of its public presale. Rebel Satoshi additionally broadens accessibility by allowing presale participation in the form of Bitcoin and 50 other prominent cryptocurrencies.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

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