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The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and s...
02/10/2023

The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of Patricia Token.

According to the released white paper, Patricia Token is not a stablecoin but a debt token issued to customers to manage users’ debt. Patricia said it would operate similarly to an IOU (I owe you) document, serving as a means for the exchange to acknowledge its debt to its users and promising to pay holders 1 Tether (USDT) for each Patricia Token in the future.

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with da...
02/10/2023

U.Today - In a stunning turn of events, insiders appear to have gained a significant edge on the crypto markets, with data from revealing a remarkable accumulation surge within shark and whale wallets. This noteworthy uptick in accumulation occurred right before the breaking news of the landmark v. SEC ruling.

The timing could not have been more precise, as individuals behind wallets containing between 10 and 10,000 BTC amassed a staggering $388.3 million, equivalent to 14,596 BTC, in Bitcoin on the day leading up to the announcement. As a result, this accumulation craze was rewarded handsomely, with Bitcoin's price experiencing a 6% surge, reaching a two-week pinnacle of $28,142 per

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot B...
01/10/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users...
30/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have bee...
30/09/2023

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have been spotted by the popular crypto tracking service Whale Alert over the period of the last 24 hours.

Ripple Labs giant took an active part in this, transferring part of this massive crypto stash.

Ripple sells 59 million XRP, with 483 million XRP on the move in total
The above crypto tracker spotted three XRP transfers, carrying 424,018,481 XRP; 31,000,000 XRP and 27,600,000 XRP.

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like P...
28/09/2023

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like PayPal (NASDAQ:PYPL) enter the arena.

Bloomberg Intelligence expert Jamie Coutts pointed to Ethereum’s (ETH) growing dominance, highlighted by key network adoption metrics and layer-2 projects like Optimism, Arbitrum, and Base.

He anticipates that Ethereum’s scaling roadmap will drastically lower layer-2 transaction costs, thanks to the forthcoming EIP-4844. This comes as PayPal recently debuted its PYUSD stablecoin, fueling speculation that it might develop its own layer-2 network.

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against...
28/09/2023

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, the decision was favorable for Grayscale and its Grayscale Bitcoin Trust, which has over $16 billion in assets under

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten...
27/09/2023

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten days.

However, Santiment data suggests there are still more daily transactions in loss. According to the market intelligence platform, the ratio of daily profit and loss transactions dropped to 0.62.

ETH price, ratio of daily transactions in profit to loss and whale activity – Aug. 30 | Santiment

Per Santiment, the ratio hit a three-week high of 1.37 on Aug. 29, when ETH was trading at around $1,740.

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinh...
27/09/2023

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood (NASDAQ:HOOD) as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency.

Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third-largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth-largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody.

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