Monat: August 2023

Veröffentlicht am

Binance delisting news plunges SRM, SNM and YFII tokens

  • The Binance news saw all three altcoins nosedive double-digits.
  • Serum (SRM) was down 29%, Sonm (SNM) shed 58% and DFI.money (YFII) declined by 16% in 24 hours.
  • Trading on all pairs for the tokens will end on August 22, 2023.

Serum (SRM), Sonm (SNM) and DFI.money (YFII) are among the biggest losers in the crypto market today. As of writing, SRM, SNM and YFII have all plummeted double-digits.

Binance to delist SRM, SNM and YFII

Binance announced on Tuesday that it will “delist and cease trading on all trading pairs” for Serum, DFI.Money and Sonm from its platform on August 22. The exchange noted in a notice to customers that the delisting is part of its period review of every listed digital asset.

“When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users,” the exchange said in a general announcement.

Although Binance did not specify the reasons for removing support for each of the altcoin, it did cite certain metrics considered during the periodic reviews. These include team commitment, development activity, trading volume and liquidity and network safety with regard to attacks.

Market reaction plunges affected altcoins

According to data from CoinGecko, Sonm has seen the most declines in its 24-hour performance as it traded 58% down around 9.45 am ET. The token was changing hands for around $0.105392.

Serum has nosedived 29% in the same period to just above $0.05 to see its 7-day returns reach -35% and over 50% in the past 30 days. Serum, a project linked to FTX and Alameda Research, is down 99.6% from its all-time high above $13 hit in September 2021.

Elsewhere, DFI.money, which is a yield farming aggregator forked from yearn.finance, was down 16% in the past 24 hours to trade around $605. YFII has declined by more than 24% in the past month and traded at a level that’s more than 93% down from its ATH of $9,251 reached in September 2020.

Declines for the three altcoins come as most of the top 20 assets by market cap continued to trade flat, with Bitcoin constrained below $30k and Ethereum unable to breach $1,900. 

The post Binance delisting news plunges SRM, SNM and YFII tokens appeared first on CoinJournal.

Veröffentlicht am

ApeCoin, Oasis Network, Injective prepare for token unlocks

  • ApeCoin will unlock tokens worth over $31.4 million this week.

  • Oasis Network will also unlock tokens worth over $8 million.

  • Injective will also release more tokens this week.

Some of the most popular cryptocurrencies are having their token unlock events this week. The Sandbox unlocked millions of tokens, leading to a major dilution among holders. This dilution, helped push the SAND token to the lowest level since June.

According to TokenUnlocks, ApeCoin, Oasis Network, and Injective will flood the market with additional tokens this week. ApeCoin, the native token by Bored Ape Yacht Club (BAYC), will release additional 15.6 million tokens on Wednesday. 

These tokens represent about 4.3% of the total circulating supply and will be worth $31.5 million. Most of them will go to Treasury followed by Yuga Labs, Yuga Labs founder, and launch contributors. The last ApeCoin token unlock will happen in June 26th.

ApeCoin’s token unlock will come at difficult for the ecosystem as demand for BAYC prices retreat. Its price has plunged by over 68% from the highest level this year.

Oasis Network, a smart chain platform, will unlock additional ROSE tokens worth over $8 million. Its last token sale happened in May 18th when the developers unlocked 199.50 million tokens. These tokens will go to partners and reserve, core contributors, and the community. The last token unlock will happen in February 2031.

The last major token unlock will be Injective, the DeFi-focused blockchain backed by Mark Cuban. Injective will release tokens worth over $20 million on Sunday, with most of them going to the ecosystem developers. Injective’s final vesting will happen in April 2024.

In most cases, token unlocks tend to be bearish for cryptocurrencies since they lead to more dilution. They are often seen as the reversal of share buybacks in the corporate sector.

How to buy ApeCoin

Nexo

Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.

Buy APE with Nexo today

The post ApeCoin, Oasis Network, Injective prepare for token unlocks appeared first on CoinJournal.

Veröffentlicht am

Logan Paul faces backlash after $1M bet proposal

  • Logan Paul will face Dillon Danis in a bocxing match on October 14.
  • Paul, a social media personality and WWE star, is willing to bet $1 million he will win. The bet has attracted widespread criticism.
  • Meanwhile, decentralised betting platform Chancer has raised over $1.3 million in presale.

YouTuber and WWE personality Logan Paul is buzzing for his next event – a boxing bout against Brazilian Dillon Danis. The match is set for October 14 in Manchester, England. Paul, whose YouTube fame has catapulted him into lucrative deals in combat sports, is confident he will beat Danis and is willing to bet $1 million on it.

The bet proposal has been heavily criticised across crypto – we tell you why and explain why legit bets such as Logan Paul’s could find a home on a new blockchain-based betting platform called Chancer.

Logan Paul’s $1 million bet – what’s the criticism?

28-year old Logan Paul has had some high-profile matchups, including an exhibition bout against Floyd Mayweather. His appearances on WWE have also been great shows. 

Now he’s hyping up his upcoming boxing match against Dania, a 29-year old jiu-jitsu black belt holder and trainee of former UFC champion Conor McGregor.

Paul is confident he will beat the Brazilian and has proposed a $1 million bet with McGregor. 

The move has been heavily criticised across the crypto community, with many criticising the social media personality for considering such a bet when he hasn’t followed through with a promise to reimburse victims of his CryptoZoo (ZOO) project.

CryptoZoo launched in 2021, promising a cryptocurrency game powered by the ZOO token and NFTs. The project rallied (read more here) as NFTs exploded onto the scene during the bull market. However it has largely failed to live up to projections and Paul said earlier this year that he’d make it right with the affected investors.

That hasn’t happened yet and the latest events where he’s willing to bet $1 million on a match’s outcome has left many unamused. Shouldn’t he be using that money to refund CryptoZoo NFT buyers? Danis himself had a go at Paul via a post on X (fka Twitter).

While Logan Paul comes under fire for his crypto “scam”, the one thing that one can take from his bet proposal is that betting is here to stay. And so is crypto and, likely, the new betting project Chancer.

What’s unique about Chancer?

The gambling and betting sector is one major global industry, currently projected to grow double figures annually for the next ten years. Traditional bookmakers will no doubt see this growth. But investors are taking note of a potential game-changer for the whole industry – Chancer?

Chancer is an online betting platform built on blockchain and offering a revolutionary model that could transform betting for millions of people. This is because unlike centralised betting companies, Chancer will allow users to create their own bets on thousands of events, from mainstream sports, esports, and entertainment and so on.

On Chancer, users can set their own odds and play by their own rules, including live streaming bets to invite others from across the globe to join. The peer-to-peer platform could therefore grow into the leading decentralised social betting platform in the world.

Learn more about how Chancer works here.

Global investors flock to Chancer, over 31 million tokens sold in weeks

Chancer is looking to disrupt an $80 billion global gambling industry with its new blockchain-based betting platform. Investors have taken note of the potential for the project’s revolutionary offering and are aggressively allocating funds to help bring it to the market.

That sentiment is what’s likely behind the huge interest in the native $CHANCER token, whose presale has been one of the few highlights of an otherwise dull summer for crypto. So far, investors have scooped more than 31 million $CHANCER tokens, helping to raise over $1.3 million.

The presale currently has $CHANCER tokens priced at $0.011 and investors can buy with ETH, BNB, USDT and BUSD.

The post Logan Paul faces backlash after $1M bet proposal appeared first on CoinJournal.