Author: MEAOWS
GraFun, a platform known for enabling the creation and trading of memecoins, is expanding its reach to the TON Network, making it the third blockchain to host its services, following Ethereum and BNB Chain. This move aims to capture a fresh audience, attract increased liquidity for meme token issuances, and enhance the platform’s presence within the crypto community. Memecoin Creation Directly Within Telegram By integrating with the TON Network, GraFun is set to streamline the process of creating and trading memecoins directly within Telegram, one of the world’s most popular messaging apps. A GraFun developer shared that the platform has…
XRP account creation and transaction fees have been dramatically reduced by 90%, following a crucial vote by XRPL validators. This change brings down the account reserve requirement from 10 XRP to just 1 XRP and lowers the creation fees for trust lines and other objects from 2 XRP to 0.2 XRP. How the Fee Reduction Impacts XRP Network Users The lowered fees make it significantly cheaper to create and manage accounts on the XRP Ledger (XRPL), the network underpinning XRP. The activation process involves setting aside a reserve amount in the account to allow for transactions, with the reduced fees…
Foundry, a leading mining pool owned by Digital Currency Group (DCG), has laid off 16% of its U.S.-based employees. This move is part of the company’s broader strategy to streamline operations and focus on its core business — managing the world’s largest Bitcoin mining pool. Adjusting Strategy for Long-Term Growth The layoffs come after Foundry decided to concentrate its efforts on Bitcoin mining pool operations and expand its site operations business. According to a company spokesperson, the restructuring is aimed at refining the business strategy to ensure long-term success. While the focus will remain on the Bitcoin mining pool, Foundry…
A New Milestone for Grayscale in the Crypto ETF Landscape Grayscale has taken a significant step in its expansion within the cryptocurrency market, filing to convert its existing Solana Trust (GSOL) into an exchange-traded fund (ETF). This move positions Grayscale among a growing list of asset managers aiming to bring Solana-based investment products to the public markets. Grayscale’s Solana Trust: A Success Story in the Making Launched in 2021, the Grayscale Solana Trust (GSOL) currently holds $134 million in assets under management (AUM). Initially a closed-end fund, the trust has seen significant interest, especially as the price of Solana (SOL)…
In the wake of South Korea’s martial law declaration, significant market movements were observed on the Upbit exchange as large traders moved large amounts of Tether’s USDT stablecoin. This activity points to potential “bottom-fishing” strategies where investors aimed to capitalize on discounted cryptocurrency prices following the sudden price drop in Bitcoin (BTC) and other digital assets. USDT Influx Indicates Increased Market Activity According to blockchain analysis by Lookonchain, over $163 million in USDT was transferred to Upbit within just one hour of the announcement by President Yoon Suk Yeol. This was a clear sign of large traders—often referred to as…
On Tuesday evening, the political landscape in South Korea dramatically shifted as President Yoon Suk Yeol declared “emergency martial law.” This move came in response to accusations against opposition parties of undermining the government and fostering sympathies with North Korea, which led to a paralyzed legislative process. In the aftermath of the announcement, a sharp decline in cryptocurrency prices followed, with Bitcoin and XRP experiencing significant drops of up to 30% on South Korean exchanges. The Impact on Bitcoin and XRP The sudden announcement caused Bitcoin (BTC) to fall sharply on South Korean exchanges, dropping from $96,000 to $63,000, based…
Bitcoin has once again neared the $100,000 mark, but the journey to break through this psychological level is not as straightforward as it might seem. Historically, cryptocurrencies, particularly Bitcoin, have struggled to breach large round numbers, often requiring several attempts to succeed. The Psychological Power of Round Numbers The $100,000 mark for Bitcoin holds immense psychological significance in the trading world. As Bitcoin prices approach round numbers like $10,000, $50,000, or $100,000, they tend to cause traders to react emotionally, which can lead to price stalls or reversals. Such price points are viewed as key thresholds, and traders often panic-sell…
MicroStrategy (MSTR), known as the largest publicly listed Bitcoin holder, is experiencing significant volatility in its stock price, with implied volatility (IV) now 2.5 times higher than Bitcoin’s. This surge in volatility may present exciting opportunities for investors using options trading strategies, although it comes with its own set of risks. The Volatility Difference: MSTR vs Bitcoin As of recent data, MicroStrategy’s 30-day implied volatility is a remarkable 140.86%, significantly higher than Bitcoin’s 55.65%. This means that MSTR shares are experiencing more price fluctuations compared to Bitcoin, which in turn can create higher premiums for options traders. MicroStrategy’s stock has…
Polymarket bettors are casting doubt on the potential approval of Microsoft’s (MSFT) proposal to add Bitcoin to its corporate balance sheet. The market is currently assigning only an 11% chance that the motion will pass, indicating skepticism among investors about the feasibility of the idea. Michael Saylor’s Bitcoin Pitch to Microsoft Michael Saylor, executive chairman of MicroStrategy (MSTR), recently made a pitch to Microsoft’s board suggesting that the company should consider adding Bitcoin as part of its treasury strategy. Saylor argued that Microsoft’s current cash management approach, which includes dividend payouts and buybacks, has caused the company to miss out…
XRP has been making waves in the cryptocurrency market with a staggering 430% increase in price over the past 30 days, reaching levels not seen since 2018. This dramatic rise, which began in early November, has taken many traders by surprise, particularly after political events in the U.S. fueled renewed investor interest in tokens tied to U.S. companies like Ripple Labs, the organization behind XRP. Key Insights on Whale Activity and Market Sentiment A significant factor driving this surge is the heightened activity of large holders, often referred to as “whales.” According to CryptoQuant data, whale activity has surged to…