Tron founder Justin Sun deployed part of his Ether holdings after accumulating 173,800 ETH last month before the token broke $4,000. On March 13, Etherscan data showed Sun’s address deposited 120,000 ETH valued at around $480 million into liquid restaking protocol Ether.fi. Sun reportedly acquired the Ethereum (ETH) coins, worth $693 million at press time, for an average price of $2,869 per token between Feb. 8 and Feb. 25. Ether.fi and other liquid restaking platforms leverage Ethereum’s proof-of-stake (PoS) consensus mechanism to secure other blockchains and protocols running atop crypto’s second-largest decentralized network. The idea was inspired by Ethereum’s native…
Author: Web3 Daily Press Staff
By Medha Singh(Reuters) -MicroStrategy is planning to raise capital through convertible bonds offering to buy bitcoin for the second time in less than 10 days, as the aggressive crypto investor looks to increase its exposure to the booming cryptocurrency.The software firm said after markets closed on Wednesday that it was offering $500 million in convertible notes due in 2031 to institutional investors. The company had announced a $600 million private offering in convertible notes on March 5.Its shares dropped 7% on Thursday, after hitting a 24-year high in the previous session. The stock has surged nearly threefold so far in…
Bitcoin has dropped following news that inflation in February was hotter than expected. The price of the biggest digital asset by market cap is now down nearly 3% in 24 hours, according to CoinGecko. Its price stands at $70,920 per coin. Overnight, Bitcoin touched a new all-time high of slightly above $73,700. Data from the Labor Department’s Bureau of Labor Statistics showed on Thursday that the producer price index jumped 0.6% last month. It was expected to rise just 0.3%—meaning that inflation isn’t going away just yet. The index measures the change in the prices after they leave a manufacturer…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Avalanche introduces the Durango upgrade for enhanced interoperability, Litecoin prepares for a transactional efficiency boost, and NuggetRush’s ICO excites with a mining adventure game. In a bid for technological advancement within the crypto sphere, Avalanche (AVAX) and Litecoin (LTC) have announced significant updates aimed at improving interoperability and transaction processes, respectively. Meanwhile, NuggetRush (NUGX) emerges in the ICO landscape, offering a unique gaming experience centered around a digital mining adventure. These developments highlight the ongoing innovation and potential for…
Several altcoins, including XRP and Shiba Inu, have leveraged the Bitcoin (BTC) uptrend to record their own gains, but an analyst believes these assets could collapse as the market matures. Samson Mow, CEO of Bitcoin technology company JAN3, reiterated Bitcoin’s unique standing in the broader crypto ecosystem, recently asserting that the rest of the market would not be able to keep up with the pace at which the premier crypto asset runs. Altcoins Track Bitcoin Gains Notably, Bitcoin has been on an impressive run since the fourth quarter of last year, extending the price rally into this year. The asset…
VeChain, a leading enterprise-grade L1 public blockchain, and EasyA, a Web3 educational mobile app, will host a hackathon at the University of Cambridge with participation from Boston Consulting Group (BCG). The event will encourage the development of sustainable “X-2-Earn” applications housed in the new VeChain-powered circular ecosystem, VeBetterDAO, in addition to applications aimed at addressing friction points in the automotive industry. Following the success of VeChain, EasyA, and BCG’s hackathon at Harvard last October, this next edition and future ones will focus on a specific industry. VeChain aims to collaborate with enterprises and developers to ideate sustainable solutions to pressing…
The United States Attorney’s Office in Massachusetts has initiated legal proceedings to reclaim cryptocurrency linked to a scheme dubbed the “pig butchering” operation, which victimized a Massachusetts resident and 36 others.The U.S. Attorney’s Office filed a civil forfeiture action on March 13 aimed at returning $2.3 million in a variety of cryptocurrencies, including USD Coin USDCUSD, Tether USDTUSD, Ether ETHUSD and Solana’s SOL SOLUSD, to the victims of online scams and fraud. A civil forfeiture action is a legal process through which law enforcement agencies seize assets, such as property or funds, that they suspect are involved in illegal activity.…
SafeMoon Inu (SMI): How Risky is It Thursday? InvestorsObserver This news is republished from another source. You can check the original article here
The world of cryptocurrency is a constantly evolving landscape, with new projects always emerging. While established players like Bitcoin and Ethereum continue to dominate the market, there’s always a buzz around the next big thing. In this dynamic environment, two projects generate significant interest: Polkadot, a top contender among top altcoins, and Rebel Satoshi, a memecoin with a unique ecosystem. Polkadot’s Potential for Big Moves Polkadot (DOT) has been steadily climbing the ranks of the top crypto coins in recent months. This innovative blockchain platform is designed to address scalability issues that have plagued older blockchains like Ethereum. Polkadot’s unique…
Image Credits: Pallet ExchangeEven though NFT sales volume is still down 88% from 2022 all time-highs (and down 38% year-to-date), Pallet Exchange is building a new type of NFT marketplace focused on user retention. And it’s doing it on a blockchain less known for NFT trading: Sei. Co-founders Kelvin Wang and Davy Li have convinced investors that there’s still enough of a future in NFTs beyond silly social media profile pictures (PFPs) to have raised a $2.5 million in a private funding round with participation from Spartan Group, Symbolic Capital, Cypher Capital and angel investors from Coinbase, MoonPay and more,…