DeFI News by Thebittimes.Com

A guilty verdict has been reached in the long-awaited Hush Money trial, with former U.S. President Donald Trump found guilty on all 34 felony counts by a unanimous decision from 12 jurors in New York, with sentencing set for July 11.  However, for one crypto trader, there is a silver lining in this verdict, as he managed to earn over $167,000 with well-placed trades involving Trump-related tokens, FreeTrump (FREE), and Never Surrender (TRUMP) created shortly after the guilty verdict was reached. How did the trade unfold? Using a strategic approach, the trader capitalized on the volatility of Trump-themed tokens, specifically FreeTrump and Never Surrender.  In just five hours, the cryptocurrency trader converted them into approximately 972 Solana (SOL) tokens, equivalent to $167,000. Picks for you Beware of celebrity tokens : C...

While many cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have been carefully testing new resistance levels throughout the current market rally, Solana (SOL) has been on a remarkable, almost unbroken, upward trend. In the last 24 hours alone, the token added $4 billion to its market cap, going from approximately $22 billion to $26.5 billion in a massive surge, as per data retrieved by Finbold from Coinmarketcap on November 15. Its price followed suit and rose by 20.69% in a day – up to $63.34. SOL 1-day market cap chart. Source: Counmarketcap Zooming out, SOL has been surging throughout the previous month, rising nearly 190% percent since mid-October. It has also been growing steadily in the past week, having risen 46,31% from the price of $43 it held last Wednesday. SOL 7-day price chart. Source: Finbold Indeed, the cryptocurrency has advanced to the sixth position in terms of market cap through the current rally and has, so far, successfully shrugged off downwa...

Nearly $1 billion worth of Bitcoin (BTC) was withdrawn from cryptocurrency exchanges in the last 24 hours , according to data gathered on from blockchain analytics platform Glassnode. Over the last 24 hours , approximately $612.3 million worth of Bitcoin flowed into exchanges while $1.5 billion was withdrawn, resulting in a net outflow of $936.5 million. This massive movement of Bitcoin off exchanges reduces the circulating supply available for trading. You might also like: Bitcoin holds strong with higher market cap than Tesla despite bear market Ethereum (ETH) also saw significant outflows during the same period. Around $356.9 million entered exchanges while $544.6 million was withdrawn, for a net outflow of $187.7 million. Similarly, Tether’s USDT stablecoin had $418.1 million in inflows compared to $458.6 million in outflows, totaling -$40.5 million in net outflows. Large cryptocurrency withdrawals from exchanges are typically interpreted as a bullish sign, as...

Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain router and Railgun contract. According to recent information from Spot On Chain, an address linked to the FTX exploit , identified as 0x3e9, has conducted transfers exceeding 10,000 ETH, valued at more than $17.1 million, across five different addresses within the past day. It's worth noting that these addresses had remained inactive for several months before this recent activity. Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain router and Railgun contract. Furthermore, the exploit er engaged in a swap involving 2,500 ETH, valued at $4.19 million, converting it into 153.4 tBTC at an average rate of $27,281 per token. This address, which has recently become active, has exhibited noteworthy activity and is anticipated to continue transferring ETH, most likely to Thorchain. At the time of...

Join Our Telegram channel to stay up to date on breaking news coverage From BinaryX gaining a minor 8% uptick to XRP’s only 3% rise, top crypto gainers have stalled in the last 24 hours . The market is in turmoil, and as more information about the FTX issue emerges, we will see multiple major cryptocurrencies performing in the negative zone. Is FTX the only reason behind the lukewarm price action of these top gainers? Real Reason Behind Top Crypto Gainers’ Lukewarm Performance The fall of FTX has put the entire cryptocurrency ecosystem under the regulatory microscope. Adding bearish flames to it are the revelations proving that Sam Bankman-Fried wasn’t the “most altruistic billionaire” that many thought it would be. From the balance sheet leaks to the disclosure of the sex tape to the recent report showing SBF’s purchase of 300 million dollars worth of real estate in the Bahamas have upended the belief many had about crypto.  And it di...