Cryptocurrency Analysis and News Portal
Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired tokens dubbed POLS. In a Nov. 16 X (formerly Twitter) post Polygon founder Sandeep Nailwal shared his surprise at the elevated transaction activity on
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The Texas State Securities Board has accused a network of companies under the "GS" brand and operating from Germany of fraudulent activities "tied to digital assets, investments in a staking pool in a proprietary metaverse." The network of companies is controlled by Josip Dortmund Heit.As described by regulators on November
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Newly-launched modular blockchain Celestia has experienced a slow start in terms of on-chain activity, but that hasn't reduced the appetite of traders who have spurred a speculative rally to $6.30, 200% higher than when it debuted at around $2.10 two weeks ago. Source
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Binance Labs, the venture capital arm and incubator arm of crypto exchange Binance, said on Nov. 15 that it has invested in ARKM, the native token of the “deanonymizing” blockchain platform Arkham.The company said in a blog post on the website that the investment aims to support “on-chain insights at scale across
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Over the past 30 days, DYDX has more than doubled in price as speculators anticipated the token's migration from Ethereum to the dYdX chain. However, a large token unlock in just over two weeks has the potential to damp spirits. There are 179 million DYDX tokens in circulation, and the
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OMG, the native token of the OMG Network, climbed to a six-month high after Ethereum creator Vitalik Buterin published a blog post on how Plasma, the technology behind the OMG Network, has the potential to reduce transaction fees and improve security. Source
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GROK, an X AI-inspired token, lost nearly $100 million in capitalization in the past 24 hours as its developer was linked to previously rug-pulled projects. The token is inspired by, but is completely unrelated, to Grok AI, a chatbot service by Elon Musk-owned X that’s currently in beta testing. Source
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In the 24 hours following that move, prices of Moons (MOON), the native token of Reddit’s r/CryptoCurrency community, fell some 85% on the news, Bricks’ (BRICK), distributed as a reward for contributions in the r/Fortnite subreddit, dropped 67%, and Donut (DONUT), the token that represents the community points of the
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Total liquidity for the token is a paltry $3.5 million on decentralized exchanges, meaning a single significant sale could instantly topple the rise. Source
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The newly introduced Midas stablecoin, set to integrate with DeFi platforms in the current quarter before a retail launch early next year in 2024. Midas, a stablecoin backed by US Treasuries, plans to join the growing trend of convergence between cryptocurrency and traditional finance. The project plans to introduce its
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