DeFI News by Thebittimes.Com

A new decentralized finance (DeFi) trading altcoin is surging after gaining support from the top US-based crypto exchange platform by volume. In a new thread on the social media platform X, Coinbase says it’s adding the DeFi token Definitive Finance (EDGE) to its suite of digital asset products with an experimental label, causing the altcoin to skyrocket. Coinbase’s experimental label designates assets as having higher volatility and lower trading volume compared to other products offered by the firm. News of the addition sent EDGE flying, as the token went from an April 2nd low of $0.0274 to a peak of $0.1157 just a few hours later. The digital asset has since retraced and is trading for $0.086 at time of writing, a staggering gain of nearly 180% during the last 24 hours. According to its official website, Definitive aims to mimic the experience offered by centralized exchange platforms, such as Coinbase and Binance, despite being decentralized. ...

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...

AI token s were the best performers on Sunday. Nvidia will deliver its AI GTC conference in the US. BitBot has continued its token sale, raising over $1 million. Bittensor (TAO) and Render Token (RNDR) prices bounced back sharply on Sunday as traders refocused on the upcoming Nvidia GTC event in the US. The two tokens surged by more than 20% on Sunday, erasing some of the losses made during the weekend. Meanwhile,  BitBot , the upcoming Telegram bot, continued to gain popularity among investors. Nvidia GTC event ahead This will be an important week for the financial market. From a macro perspective, there will be numerous central bank decisions. The Reserve Bank of Australia (RBA) will deliver its rate decision on Tuesday.  It will be followed by other central banks like the Federal Reserve, Bank of England, Swiss National Bank, and the Bank of Japan. These decisions will likely have an impact on cryptocurrencies and other financial assets....

Floki has announced the 190 billion FLOKI token burn has been executed. The tokens were worth over $47 million following FLOKI’s 600% price surge in the past two weeks. FLOKI has announced that the scheduled 190 billion FLOKI token burn has successfully executed. As revealed recently, the Floki DAO approval for the burn saw the project outline that the planned incineration was to take place this week. On March 9, 2024, the team announced that 190.91 billion FLOKI, accounting for 2% of FLOKI’s circulating supply, had permanently been removed. “In line with the decision of the #Floki DAO, 190,918,585,431.84 $FLOKI token s have been successfully burnt across the ETH and BNB chains,” the Floki Inu team posted on X. FLOKI price up 600% in 2 weeks According to the details, the total value of the burnt token s was over $47 million. Initially, the 190 billion FLOKI had a value of $11 million. However, FLOKI price has more than doubled in ...

Shiba Inu embarked on a token-burning spree at the beginning of the year. The aim was simple: reduce the supply of $SHIB and increase its value. However, this didn’t cause as significant a price increase as expected, leaving some wondering if the entry of newer coins like Galaxy Fox is stealing its thunder. Galaxy Fox is making its mark with some analysts describing it as the best upcoming ICO because of its utility and potential for high returns. Is $GFOX taking the spotlight from $SHIB? Let’s break it down. SHIB token burn fails to inspire major price increase 2024 started with the crypto community buzzing with enthusiasm about Shiba Inu’s initiative to burn its tokens. The $SHIB team, in tandem with the community, engaged in burning sessions using fees from the Ethereum Layer 2 network Shibarium. However, recent data suggests that the fervour has dwindled. Recently, a mere two burn transactions were recorded by the Shibburn tracking website...

Cryptocurrency investors have embraced the Fear of Missing Out (FOMO) as the crypto fear and greed index has risen recently. The index, which measures the sentiment in the industry, has moved to the greed area of 76, its highest point in weeks. This trend has happened as  Bitcoin has soared to over $52,000 and Ethereum is nearing $3,000. This explains why Bitcoin Dogs has raised over $2.5 million in the past few days as you can find  here . Evidence of FOMO in crypto The main evidence that FOMO has moved back to the crypto industry is that most altcoins have surged in the past few days. It is hard to see the altcoin that has retreated in the past few days. Most of them have jumped even without any news or events. Kaspa’s KAS token has jumped by more than 10% in the past 24 hours and by 25% in the past 7 days, giving it a market cap of over $4 billion. Further, Minu, a new meme coin has surged by 91% in the past 24 hours. Other token s that hav...

With Bitcoin (BTC) soaring to $52,000, the crypto market is once more pervaded by a sense of optimism fueling a bullish sentiment across various altcoins and exchange token s, including Bitget’s native token BGB. BGB reached a notable high of $0.9 in recent trading, reflecting growing confidence in the market and hinting at sustained growth potential.  BGB’s momentum and price movement In the past four months, BGB has shown remarkable growth, climbing from $0.4 to a peak of $0.9. This lack of fluctuations in the momentum indicates consistent investor confidence and strong support from Bitget’s operational successes. It’s thus not surprising that Bitget plans to align the token ’s trajectory with the platform’s expansion later this year. Picked for you What OnlyFans top earners are doing with their income 1 min ago Unmasking the 'Top G': Andrew Tate's net worth revealed 53 mins ago This AI token threatens 250% bullish breakout, currently p...

Pyth Network (PYTH) and Celestia (TIA) have seen decent traction and could rally in 2024. Memeinator is blazing through its presale, currently at $3.7 million as investors eye potential meme coin gains. While the year is having a somewhat slow start given the excitement amid the build up to the spot ETFs approvals in the US, experts continue to opine that this could be a breakout year. This has the overall sentiment mostly bullish, with the crypto market eyeing potential tailwinds such as the upcoming Bitcoin halving and further regulatory clarity. The long term impact of inflows via ETFs is also another factor providing impetus as traders position themselves across the market. It’s with this view that Pyth Network (PYTH) and Celestia (TIA) are seeing significant investor attention. Meanwhile, presale token Memeinator (MMTR) could present an attractive meme coin for a diversified portfolio. Memeinator (MMTR): Presale offers opportunity While many mem...

XRP price surges 1.17% on whale transactions, hitting $0.6168. Pullix’s PLX token presale raises $1M+, 58% sold, priced at $0.044. Pullix offers “Trade-to-Earn,” governance, and revenue-sharing. XRP price has surged considerably following massive whale transactions, while the presale of the upcoming online trading platform Pullix expected to launch in January 2024 quickly sells out. The presale is in the third stage and already 58% sold out raising over $1 million in a matter of weeks. Below is a closer look at Ripple’s XRP token especially now that whales are making significant transactions in anticipation of 2024 market dynamics. We shall also delve into the evolving narrative around Pullix’s innovative approach to online trading. XRP price surges amidst whale transfers XRP, a prominent cryptocurrency backed by Ripple, witnessed substantial price movements as 182.6 million XRP was shuffled across wallets. Notably, four trans...

The “most scalable blockchain ever” experienced a spike in activity, causing its network to experience delayed settlements. Transaction per second (TPS) speed on The Open Network (TON) fell as the blockchain buckled under increased usage triggered by a surge of TON20 transactions starting on Dec. 5. TON20 is an inscription standard inspired by the Bitcoin Ordinals protocols and launched by the Tonano team. According to developers, TON could not handle the load due to suboptimal hardware employed by some main network validators. TPS on TON crashed from 100,000 to under one, per dTON.io data. These validators rented hardware for low load with no provision for load growth. Since the network had been running low load for the previous months, this was not a problem. As soon as the load increased by 50-100 times in 30 minutes, these validators started to slow down the whole network with them. TON Foundation You might also like: TON locks up 25% of token supply to make tokenom...

SIDUS price skyrockets as project burns 6.8 billion tokens. The Web3 gaming and AI project has seen the price of its native utility token jump 40% in the past 24 hours. Buying pressure for SIDUS has pushed it to its highest level since May 2022. Sidus (SIDUS) price has risen sharply in the past few days, rising to its highest level since May 2022. This comes after the SIDUS HEROES team announced they had burned a staggering 6.8 billion of the native utility token ’s supply. The announcement on Friday revealed the 6.8 billion SIDUS tokens, accounting for 23.13% of the total supply. These tokens have permanently been removed from circulation, cutting total supply to about 22.6 billion. 🔥 It’s done! We’ve burned 6,826,500,000 $SIDUS tokens – 23.13% of the total supply! 🔥 ✔️ Transaction details: https://t.co/ew5O7CgeG8 Both our revolutionary votes are over – $SIDUS and $SENATE are much stronger, wit...

"GS Partners promoted the products through a multilevel marketing scheme paying lavish commissions," regulators say. 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 16, respondents GS Partners, GS Smart Finance and GS Wealth allegedly held three rounds of metaverse property sales beginning September 2021. At the time, investors were informed that could purchase XLT Vouchers, or BNB Chain token s that represented ownership of one square inch of a unit in the company's G999 Tower metaverse, at 9.63 Tether (USDT) per voucher. However, the token rapidly lost its value, to less than 0.0000049 USDT apiece on decentralized exchange PancakeSwap, after the respondents failed to reach...

Crypto attorney John Deaton has offered insights into the ongoing Securities and Exchange Commission (SEC) vs. Ripple lawsuit, suggesting a favorable outcome for the latter. Deaton has predicted a “99.9% legal victory” for Ripple in its ongoing case versus the SEC. Deaton’s comments were prompted by a post from Ripple Chief Legal Officer Stuart Alderoty, indicating a strong belief that the outcome of the lawsuit weighs heavily in Ripple’s favor. The people who’ve argued that the SEC got a 50-50 victory in the @Ripple case are wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less it’s a 99.9% legal victory. https://t.co/Xe6SYBiTCJ — John E Deaton (@JohnEDeaton1) November 4, 2023 Deaton contended that a settlement of $20 million or less would be a significant legal triumph for Ripple, refuting the idea that the lawsuit’s result would be an even 50/50 outcome for the SEC. The lawsuit between SEC and Ripple, initiated in December 2020, accus...

TIA token, the native asset of the modular blockchain network Celestia, has been the top trending token on several social media and crypto platforms. The recent boost in its popularity coincides with Celestia‘s launch of its mainnet beta on Oct. 31, heralding the beginning of the modular blockchain era. According to CoinMarketCap data, the token started trading on the same day. The recent developments led to a surge in social discussions on CoinMarketCap, Twitter, Telegram, and Santiment.  TIA price – Nov. 1 | Source: Santiment Moreover, TIA currently holds the position as the most popular asset on CoinMarketCap. According to Santiment data, discussions about the token have seen a significant surge in the last 24 hours on X (formerly Twitter), where it now ranks among the top trends, alongside terms like “Celestia airdrop.” Telegram and 4Chan have also experienced a notable increase in mentions of TIA. You might also like: Global watch...

The teams for crypto exchange Bitget and Web3 protocol Floki blamed each other for allegedly misleading investors. The teams behind the Floki protocol and Bitget crypto exchange have accused each other of market manipulation after the protocol’s token, TokenFi (TOKEN), was listed and delisted by Bitget. This is according to an October 31 social media post from the Floki team and a blog post from Bitget.  The Floki team claimed that Bitget listed the token before it was launched, referring to the Bitget listing as a “fake token,” while Bitget claimed that the Floki team was “suspected of market manipulation by maliciously controlling the initial liquidity.” Bitget statement on TokenFi delisting. Source: Bitget. The Floki team said it submitted a proposal on October 18 to the Floki decentralized autonomous organization (DAO) to launch a staking program with a reward token that would “target a trillion-dollar industry with strong potential.” Meanwhile, the team was talking with centrali...

With the update, the project wants to help FLR holders secure and contribute to the ecosystem. Flare, a layer-1 solution that enables using smart contracts on the XRP network, has rolled out a public staking service for FLR token holders. Flare public staking is live: https://t.co/ZB0AaH7sFZ Learn everything about delegating FLR stake with #FlareStake. ️ pic.twitter.com/EsqWng7KCv — Flare ️ (@FlareNetworks) October 29, 2023 In an X thread on Oct. 29, the Flare team said the launch is part of the transition to a proof-of-stake consensus model. With the dedicated staking platform, FLR holders users can delegate their token s to validators in a bid to support them in contributing to the ecosystem, the developers said. You might also like: Flare brings blockchain API to Google Cloud Marketplace At launch, users could only stake FLR with Avalanche application set on their Ledger hardware wallets. However, the developers promise to add other staking options in the f...

RBZ has launched a gold-backed ZiG digital token to address currency instability and inflation. ZiG offers a stable and versatile investment option, gaining investor interest. Investors have purchased 350kg of gold through ZiG, signalling a shift from the US dollar. The Reserve Bank of Zimbabwe (RBZ) has officially launched the Zimbabwe Gold (ZiG) digital token , backed by physical gold reserves, to address currency instability and rising inflation in the country. Zimbabwe has grappled with currency instability and soaring inflation for over a decade. After hyperinflation rendered the local currency nearly worthless in 2009, the nation adopted the US dollar as its official currency. However, in 2019, Zimbabwe reintroduced its own currency, only to face renewed currency volatility. ZiG: Gold-backed cryptocurrency In April 2023, the RBZ introduced the concept of the Zimbabwe Gold (ZiG) digital token, underpinned by physical gold reserves held in the centr...

The project provides a decentralized and private way to verify human identity online amid the rise of artificial intelligence technologies. Worldcoin (WLD), a project partly created by OpenAI CEO Sam Alman, launch ed the token that will be used within the project's ecosystem on July 24.  The project has continuously split opinions from within the crypto space up to Silicon Valley, with some praising the project’s ambition to some calling it “creepy” and “dystopian.” Despite these comments, the project continues to pursue its goal of solving income inequality and online identity authentication. It's time. 24.7.23 pic.twitter.com/9oHW4DIMJX — Worldcoin (@worldcoin) July 23, 2023 The project was first launched back on March 14, along with a waitlist for its software development kit (SDK). According to its team, the World ID will function as a global digital passport that users are able to store within their phones. The project also claims that the World ID will also provide p...

In the second half of 2023, investors are actively considering potential token s for their crypto portfolios. Among the cryptocurrencies garnering attention and which investors expect to rally in the latter half of 2023 are digitoads (TOADS), zilliqa (ZIL), and quant (QNT). This article examines their utilities and why investors are investigating them as investments in the latter part of 2023. DigiToads: a token to watch out for in H2 2023 DigiToads has experienced significant growth in the first half of 2023 and shows promise for continued expansion in the following months. The presale phase has raised nearly $6 million, and investors anticipate even more gains after listing on exchanges. Consequently, TOADS, the native token of DigiToads, is closely being monitored. TOADS could continue rallying in the months ahead as a utility token with growth potential similar to meme coins. Its ecosystem, incorporating a non-fungible token (NFT) collection and play-to-earn (P2E) gaming, ...

Nearly 10,000 tokens launched on BNB and Ethereum last year are suspected to have been created just to dump on investors, according to Chainalysis. Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all tokens launched” in 2022 on the BNB and Ethereum blockchains and found just over 9,900 bore characteristics of a "pump and dump" scheme. A pump-and-dump scheme typically involves the creators orchestrating a campaign of misleading statements, hype, and Fear Of Missing Out (FOMO) to persuade investors into purchasing tokens while secretly selling their stake in the scheme at inflated prices. Chainalysis estimated investors spent $4.6 billion worth of crypto buying the nearly more than 9,900 different suspected fraudulent token s it identified. The most prolific purported Pump and dump creator Chainalysis identified — who wa...