Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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Whales gobbled up $94M of ETH as price sank to $1.6k

  • Ethereum whales used last week’s dip in prices to quickly accumulate thousands of ETH.
  • Data shows 4 whale addresses bought $94M of ETH as Ether price fell to lows of $1,540.

Ethereum price falling to under $1,600 last week provided an opportunity not to miss for four whales, blockchain sleuth Lookonchain has revealed.

Ethereum whales buy the dip

Per the details, the four wallet addresses collectively bought $94 million in ETH, Ethereum’s native token. The whale activity happened as the price of Ether declined alongside that of Bitcoin and other crypto assets during last week’s broader market sell-off.

According to on-chain data, the three of the four whales bought 18,000 ETH, 17,900 ETH and 18,200 ETH worth more than $30 million each. The other scooped 2,000 ETH worth approximately $3.4 million.

Market intelligence platform Santiment also highlighted a spike in whale activity for Ethereum during last week’s market weakness.

Notably, addresses with 10-10k ETH significantly added to their holdings as whale transactions hit 23k over the past week. It’s the highest transaction count for this category of large holders, with this coming as new 1,788 addresses joined the cohort.

ETH price is currently struggling for momentum above $1,600 as the market waits for a fresh bout of volatility.

The post Whales gobbled up $94M of ETH as price sank to $1.6k appeared first on CoinJournal.

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Bitfinex introduces zero-cost deposits for Turkey customers

  • Bitfinex Turkey has partnered with local banking giant Vakıfbank to offer zero-cost deposits for the Turkish Lira (TRY).
  • Customers will also access no-fee withdrawals for up to 2 million TRY.

Bitfinex customers in Turkey can now deposit the local currency Turkish Lira (TRY) directly from their bank account at zero cost.

The crypto exchange said in a blog release on Thursday that Bitfinex Turkey would offer this service in partnership with Vakıfbank, one of Turkey’s largest banks.

“We are proud to offer Turkish customers the ability to deposit TRY seamlessly and cost-effectively into their Bitfinex Turkiye accounts. By integrating with Vakıfbank, one of Turkiye’s largest banks, we are making it easier than ever for customers of Bitfinex Turkiye to access the cryptocurrency market,” Paolo Ardoino, the CTO of Bitfinex, commented.

Reduced fees for TRY/USDT pair

Per the announcement, support for zero-cost deposits is available effective immediately via the Bitfinex Turkey web platform. The feature will also work via the digital asset trading platform’s mobile app. 

As well as no cost TRY deposits, the exchange has announced a six-month promotion offering reduced fees for the TRY/USDT pair.

Bitfinex Turkey also supports zero-fees withdrawals for up to 2 million TRY, with these steps likely part of a strategy to expand the exchange’s presence in the Turkish market. 

Binance currently dominates this market, while other competitors include Bitget and OKX, which announced plans to enter the Turkish market in May.

The post Bitfinex introduces zero-cost deposits for Turkey customers appeared first on CoinJournal.

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PancakeSwap v3 launches on Ethereum Layer 2 Linea

  • PancakeSwap (CAKE) has officially expanded to Ethereum Layer 2 platform Linea.
  • The launch of PancakeSwap v3 on Linea comes after a successful testnet, with users now able to access features such as advanced swaps and liquidity provision.
  • PancakeSwap is live on Ethereum, BNB Chain, Aptos, Arbitrum, Polygon zkEVM and zkSync Era.

PancakeSwap, a decentralised exchange available on multiple leading networks, has announced that its v3 is now live on the Linea mainnet.

According to a blog post the Multi-chain DEX platform published today, PancakeSwap v3’s official launch on the Ethereum Layer 2 platform follows its successful testnet deployment. 

DeFi comes to Linea mainnet

Linea is an EVM-compatible zero-knowledge proofs network developed by Ethereum development la ConsenSys. The L2 was previously known as ConsenSys zkEVM.

“PancakeSwap v3 on Linea introduces two main features, including advanced Swap and Liquidity Provision functionalities, allowing users to seamlessly trade their favourite tokens and participate in liquidity provision directly on our platform,” the PancakeSwap team noted.

PancakeSwap’s growing traction in the decentralised finance (DeFi) space has included expansion to several blockchains, including Ethereum, BNB Chain, Aptos, Polygon zkEVM, Arbitrum and zkSync Era. 

Going live on Linea Mainnet adds to the effort to bring more people into the DeFi space, leveraging the benefits of integration with the Layer 2 scaling solution.

Users will benefit from improved capital efficiency and enhanced trading features such as multi-tier fee structure. Both traders and liquidity providers can tap into the PancakeSwap v3 on Linea ecosystem for low trading fees and lower slippage.

PancakeSwap expects to roll out its farm feature on the Linea mainnet within the next few months, incentivising further adoption. Users will earn CAKE when they stake LP tokens. 

CAKE traded at around $1.28 at the time of writing, up roughly 1.2% in the past 24 hours. 

The post PancakeSwap v3 launches on Ethereum Layer 2 Linea appeared first on CoinJournal.

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Crypto derivatives exchange Bitget lists Stellar (XLM)

  • Bitget has listed Stellar (XLM), a project that’s currenly a $3.4 billion market cap token.

Bitget has announced the listing of Stellar (XLM), with the token added to the crypto derivatives platform’s Innovation Zone and Payment Zone.

A post on X said that deposits and trading were open, while withdrawals would be available starting August 25, 2023 from 11 AM UTC. Per the details in a blog post, Bitget noted available support is for the XLM/USDT pair.

Bitget’s Innovation Zone lists trending tokens, offering a 60-day valuation period for the listed trading pairs. Trading has to meet certain criteria, like market depth and so on, otherwise the exchange reserves the right to delist said tokens.

XLM price

Stellar is an open-source crypto network that powers cross-border digital payments powered by Stellar Lumens. The token uses the XLM symbol and has been one of the trending coins in the market. While outlook in recent weeks has suffered from broader market weakness, the overall long-term picture is largely positive.

Bulls are looking at an attempt to climb above $0.13 after paring all gains made when rival Ripple scored a crucial win against the SEC.

XLM price was 1.4% higher on Thursday, trading at around $0.12 as crypto markets struggled with uncertainty following last week’s sell-off.

The post Crypto derivatives exchange Bitget lists Stellar (XLM) appeared first on CoinJournal.

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Tornado Cash founders charged with money laundering

  • DOJ has arrested Storm and is on the lookout for Semenov.
  • Tornado Cash was used in several crypto heists last year.
  • OFAC had sanctioned Tornado Cash in August of 2022.

Co-founders of Tornado Cash – a fully decentralised crypto mixer based out of Russia – have been charged with money laundering, as per an indictment unsealed today.

Tornado Cash laundered money for the Lazarus Group

Roman Semenov and Roman Storm allegedly laundered over $1.0 billion in total, of which, hundreds of millions of dollars they did for a sanctioned North Korean hacking unit – the Lazarus Group.

The U.S. Department of Justice arrested Storm on Wednesday and is on the lookout for Semenov. According to James Smith – an Assistant Director of the FBI:

We’re treating this like any other fugitive now. We’re working with law enforcement, outside and inside of our agency, trying to locate and arrest this individual.

Alexey Pertsev – the third co-founder of Tornado Cash was not included in the aforementioned joint action. He does face trial in the Netherlands, though.

Tornado Cash was used in multiple crypto heists last year

Note that OFAC – the Office of Foreign Assets Control had sanctioned Tornado Cash last year in August.

On Wednesday, the financial intelligence and enforcement agency also sanctioned Semenov as well as the eight Ethereum addresses allegedly under his control. Damian Williams – the U.S. Attorney for the Southern District of New York said today:

While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov knew they were helping hackers and fraudster conceal the fruits of their crimes.

According to Elliptic – a blockchain analytics company, the $100 million that a U.S. startup Harmony lost to theft in June were laundered via Tornado Cash.

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