Category: crypto

Lido Finance’s total value locked rose 10.83% to $25.18 billion, driven by Ethereum’s price increase, though 26,528 ETH was unstaked. The seven-day APR for staked Ether (stETH) reached 3.17%. Trading volume increased by 27.49% to $920.29 million, while bridged wstETH fell 2.04%, notably on the BNB Chain.

SocialFi app Phaver launched its Phavercoin (SOCIAL) token, starting the Phairdrop event for its decentralized ecosystem. With a market cap of $146 million, the token incorporates various utilities, enhancing user engagement and rewards. It integrates with Lens and Farcaster, promoting community participation and sustainable growth. Trading commenced on multiple exchanges.

Bybit has launched a Shariah-compliant Islamic crypto account for Muslim users, offering spot trading of 75 compliant tokens and trading bots. This initiative, developed with ZICO Shariah Advisory Services, allows digital asset trading within Islamic guidelines. Additionally, Bybit Türkiye is now officially licensed, enhancing its regulatory compliance and banking partnerships in Turkey.

Despite a crypto mining and trading ban since 2021, China controls 55% of the global Bitcoin network’s hashrate. The US is rising, with mining pools now at 40%. China’s underground crypto market thrives, while potential regulatory shifts suggest easing restrictions. Industry leaders call for a competitive crypto environment.

The Australian Securities and Investments Commission (ASIC) plans to implement a licensing regime for crypto service providers, requiring firms to obtain licenses under the Corporations Act. This aims to enhance consumer protection, reduce risks, and address market misconduct due to rising fraud. Industry feedback will be sought before finalizing regulations.

According to Citi’s “Global Family Office 2024 Survey Report,” optimism for crypto among family offices rose from 8% to 17% this year. Direct exposure remains favored, with 24% investing directly. Interest varies by region, with Asia Pacific showing the highest adoption. Nonetheless, 73% still prioritize other investments over crypto.

21.co has implemented Chainlink Proof of Reserve for its wrapped Bitcoin product, 21BTC, on Ethereum and Solana to enhance transparency and secure minting. This integration enables real-time asset verification and decentralized oversight. In contrast, Coinbase’s cbBTC faces scrutiny over its transparency and liability limitations regarding lost Bitcoin.

Telegram will now share user IP addresses and phone numbers with authorities under legal requests, marking a significant policy change. CEO Pavel Durov announced new moderation tools and urged user reporting. Despite this, privacy features remain intact. Durov is currently under judicial supervision following serious criminal charges in France.

Bitcoin (BTC) approaches its $65,200 high, facing potential consolidation. Its recent rally is driven by futures trading, raising volatility concerns. Open interest in Bitcoin futures has increased, while spot market buying has slowed. Renewed interest in Bitcoin ETFs and broader market trends may influence its future direction.

AI tokens have surged, averaging a 37% gain over the past week, significantly outperforming the market’s 15.9% increase. Bittensor led this rally with an 86.2% rise. Other crypto sectors such as data services and real-world assets also showed strong performance, while memecoins underperformed, averaging only 11.1% gains.