Altcoin News by Thebittimes.Com

The ongoing crypto market rally, despite being but a few months old, has already seen  numerous exciting developments.  Along with the major developments such as the approvals of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), the BTC halving, and a string of developments in the fight between Ripple Labs and the SEC, the bull run has featured multiple new all-time highs (ATH) for various cryptocurrencies, and the launch of many new coins and tokens. One crypto trader has seemingly scored a jackpot with a very new celebrity-themed token – Caitlyn Jenner (JENNER). Picks for you How rich is the longest-sitting Republican senator: Chuck Grassley's net worth revealed 2 mins ago How rich is Tennessee senator Ma...

Crypto exchange OKX has started an investigation into the abrupt 50% decline in the value of its native token OKB. Cryptocurrency exchange OKX has launched an investigation following a rapid 50% decline in the value of its native token, OKB. The unexpected plunge saw OKB’s value drop to $25.1, prompting OKX CEO Star Xu to address the matter. While the CEO did not delve into specific details, Xu said the OKX team is actively investigating the recent volatility in OKB prices, promising to provide a report on the matter at a later time. Our team is investigating the recent okb price volatility. We will report to the community later. pic.twitter.com/UI9uPgQfA5 — Star (@star_okx) January 23, 2024 You might also like: OKX to delist privacy tokens in January 2024 While it’s unclear what was the reason behind the quick price drop, CryptoQuant CEO Ki Young Ju noted in an X post that “no notable outflows” from OKX’s major asset reserves have...

Huobi, backed by Tron founder Justin Sun, plans to convert its native token to the HTX token. According to an official announcement, HTX stated that conversion from HT to HTX will commence on Jan. 22, 2024, while deposits for the new token are available from Jan. 20. Also, peer-to-peer (P2P) trading services for HTX will launch on Feb. 2, 2024, at 5:00 (UTC), while the token will be listed for spot trading on the same date and time, with withdrawals commencing the next day, Feb. 3, 2024. You might also like: Justin Sun backed crypto exchange unveils new DAO with HTX token used for governing The crypto exchange further announced that HTX users will enjoy a 5% discount and a 25% reduction on futures and spot trading fees respectively. This incentive could serve as a way to attract more holders and boost trading volume for the platform. Other benefits associated with the current HT token are expected to move to HTX.  Meanwhile, users have until Jan. 20, 2025 to co...

An unknown user purchased the Coq Inu tokens (COQ) for $454, which grew more than 4,800 times in two weeks. According to Lookonchain data, the investor exchanged 17.26 Avalanche (AVAX) to buy 4.86 trillion COQ tokens . He used seven different addresses to make the purchase. A trader turned $454 into $2.19M in 2 weeks by trading $COQ, a gain of 4827x! This trader spent 17.26 $AVAX($454) to buy 4.86T $COQ through 7 addresses, then sold 4.61T $COQ for 32,251 $AVAX($1.26M) and 259K $USDC. Currently holding 250B $COQ($700K), the profit is ~$2.19M. pic.twitter.com/arsaX6Uey8 — Lookonchain (@lookonchain) December 19, 2023 After a meteoric rise, the user sold most COQ tokens , receiving 32,251 AVAX and 259,000 USDC. He still holds about 250 billion COQ worth more than $700,000. Experts concluded that the trader earned approximately $2.19 million from this cryptocurrency. At the time of writing, the Coq Inu token is trading near $0.0000028, according to CoinMarketCap. Over th...

The bank also plans to expand support for fiat currencies to deal with JPM Coin other than the U.S. dollar and euro. JPMorgan’s blockchain-powered stablecoin JPM Coin, pegged to the U.S. dollar, has reached the $1 billion mark in processed daily transactions as the bank keeps betting on blockchain. In an interview with Bloomberg on Oct. 26, JPMorgan Chase global head of payments, Takis Georgakopoulos, said the bank is now weighing its options to launch a retail version of the currency to bring “that same efficiency to consumers.” You might also like: JPMorgan launches new tokenization platform Although JPMorgan recently launched euro-supported payments with JPM Coin, the digital token has been used “mostly” with U.S. dollars. The New York City-based financial giant is now considering expanding support for other fiat currencies, Georgakopoulos said, without going into details. “JPM Coin gets transacted on a daily basis mostly in US d...

A new rug pull scam sees users lose several thousands of dollars to a fake Linea token project.  Blockchain security analyst Certik identified a latest rug pull scam, as a fake Linea token project that scammed users out of nearly $743,000. Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ who was promoting the token on social media.  #CertiKSkynetAlert We have seen an exit scam on a fake Linea token Eth: 0x00000000fEB6A772307C6aA88AB9D57b209aCb18 ~$743k has been deposited into Tornado Cash Victims report that the token was promoted by an individual with the username AltLexhttps://t.co/Rt3u1jV4ft — CertiK Alert (@CertiKAlert) October 25, 2023 The scammer allegedly used a honeypotting technique, luring users away from the legitimate Linea token , which is an Ethereum scaling network. The scammer later deposited the entire amount to crypto mixer Tornado Cash, which has been recently accused of allowing criminals and North Korean ...

Circle taps into Ethereum layer 2 Polygon to provide USDC liquidity directly on the proof-of-stake scaling protocol. US dollar stablecoin issuer Circle has announced that it has begun minting USD Coin (USDC) native ly on Ethereum layer 2 scaling protocol Polygon. USDC is accessible to both users and developers without the need to bridge the stablecoin from Ethereum or other blockchain. Circle Mint and Circle’s developer API’s now support Polygon-based USDC, tapping into Polygon’s scaling capabilities. 1/ It’s official. #ItsStillStableSeptember and $USDC is now available native ly on @0xPolygon PoS mainnet! Learn the benefits of native USDC and how to switch from bridged USDC.e https://t.co/KcK55sT4KH pic.twitter.com/Gm6HjR62KW — Circle (@circle) October 10, 2023 According to the announcement from Circile, businesses and developers will be able to build decentralized applications (DApps) with USDC on Polygon. The new offering is touted to enable near-instant, low fee transacti...

Nansen analysts observed “unusual transactions between FTX and Alameda” in the days leading up to FTX’s bankruptcy. Blockchain data analysts from Nansen revisit the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT token s between the exchange and Alameda Research. A Nansen report shared with Cointelegraph reveals unique observations from the blockchain analytics firm, which highlights the close relationship between the two companies founded by Sam Bankman-Fried. The former FTX CEO appears in court for the first time to face a litany of charges relating to the collapse of the FTX group. The collapse of FTX is widely reported to have been sparked by initial reports that flagged the significant, 40 percent share of Alameda’s $14.6 billion in assets held in FTT tokens in Sept. 2022. Nansen analysts revealed that they had observed dubious on-chain interactions between FTX and Alameda before these reports came to light. Between Sept. 28 and Nov. 1...

Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. Decentralized exchange (DEX) platform dYdX will unlock $14.02 million worth of DYDX (DYDX) tokens dedicated to the community treasury and rewards for traders and liquidity providers. On Aug. 29, dYdX will release 6.52 million in-house tokens, representing 3.76% of the DYDX circulating supply. Out of the lot, 2.49 million DYDX tokens — worth $5.36 million — will be allocated to the community treasury. The treasury funds contributor grants, community initiatives and liquidity mining among other programs. Upcoming dYdX unlock event. Source: token.unlocks.app The remaining 4.03 DYDX token s will be split between liquidity provider rewards (1.15 million token s worth $2.47 million) and trading rewards (2.88 million token s worth $6.18 million). Full funds allocation for dYd...

The move-to-earn platform had 2 billion $SWEAT tokens locked up in inactive user accounts which the community has voted to be returned to a governance contract. Move-to-earn platform Sweat Economy is set to repurpose over 2 billion native $SWEAT tokens that were locked up in inactive user wallets. The tokens, valued at around $10 billion, were locked up in dormant user accounts following a token airdrop event in Sep. 2022. According to the platform, Sweatcoin users that opted into the Web3 move-to-earn’s crypto offering received $SWEAT tokens that were locked up in a 24-month lock-up contract. Users that failed to install the Sweat Wallet over the past year and claim locked tokens essentially left a sizable portion of the ecosystem’s token supply frozen in inactive accounts. Sweat Economy’s foundation controls the keys to the lockup contract responsible for the token generation event, allowing for the platform to repurpose the tokens that otherwise would have been ‘abandoned’ and unre...

By participating in Cointelegraph’s Accelerator Program, Brickken aims to support companies through the entire tokenization cycle. As digitalization takes over the financial industry, tokenization is becoming an integral part of tomorrow’s capital market. While making use of blockchain technology, tokenization securitizes assets in a digital way and creates a flurry of opportunities for assets, markets and potential investors. The continuously growing tokenization market is expected to reach $16 trillion by 2030 in the illiquid segment alone, according to the Boston Consulting Group. In addition, the World Economic Forum predicted that up to 10% of global GDP will be managed on-chain by 2025. A similar figure was provided by banking giant HSBC, which estimates that up to 10% of all assets will be token ized by 2030. Without wasting any time, some market players like Brickken have already taken the first steps to capitalize on the growing demand. Brikken is a tokenization platform th...

Major crypto platforms are gearing up for the upcoming ARB token listing on March 23. As the countdown to the Arbitrum (ARB) token airdrop continues, crypto enthusiasts on Twitter are abuzz with speculation about its listing price. While the community is busy forecasting the price trajectory and benchmarking against other Layer-2s on Ethereum (ETH), several major crypto platforms have proudly announced their plans to list ARB. With the airdrop just around the corner, investors and traders are eagerly anticipating the listing of the new ARB token on various crypto platforms. This article provides an in-depth look at the confirmed listing venues where enthusiasts can acquire ARB token s after the March 23 airdrop, exploring what each platform has to offer. Huobi and MEXC Following the official announcement of the Arbitrum token airdrop on March 16, Huobi and MEXC wasted no time in revealing their plans to list ARB, and were the first to announce their listing on March 17. Both platfor...

The team stated on Twitter that deposits would be disabled “shortly” and withdrawals within 30 days. The developers of bridging platform Ren protocol have warned users to unwrap their tokens and bridge them back to their native chains “ASAP,” or risk losing them, according to a Twitter thread from the team. 1) Important notice ️ As announced previously, the Ren 1.0 network is shutting down due to the events surrounding Alameda As compatibility between Ren 1.0 and 2.0 cannot be guaranteed, holders of Ren assets should bridge back to native chains ASAP, or risk losing them! https://t.co/20vpGBc8W0 — Ren (@renprotocol) December 7, 2022 The team stated that mints on Ren will be disabled “shortly,” meaning that it will be impossible to deposit any assets onto the platform to bridge to other networks. In 30 days, “burns” or withdrawals will also be disabled. The company behind the project, RenVM, had previously stated on Nov. 18 that they would be releasing a new version of the pro...

DAXA claimed that the circulating number of WEMIX exceeds what has been disclosed by Wemix, much to the chagrin of the issuers. South Korea’s largest crypto exchanges have announced they will delist WEMIX (WEMIX) — the native token of gaming company Wemade’s Blockchain platform Wemix — alleging the firm provided “false information” in response to an investment warning it was issued. Bithumb, Upbeat, Coinone, Korbit and Gopax — which are part of a collective called the Digital Asset eXchange Alliance (DAXA) — announced on Nov. 24 that they would terminate contract support for WEMIX (WEMIX), with trading set to end on Dec. 8. In the investment warning issued on Oct. 27, DAXA alleged that there was considerably more WEMIX in circulation than Wemix had disclosed, and Wemix had pledged to work with DAXA to alleviate these concerns. After news of the decision to delist broke, WEMIX Communication released a statement, claiming it had sincerely responded to requests and concerns raised by...