Schlagwort: crypto business

Veröffentlicht am

Ethena (ENA) price pumps and dumps after proposal to integrate Ethereal Exchange

  • Ethereal Exchange integration proposal sparked a 20% surge in ENA price.
  • The proposal suggests that 15% of future Ethereal governance tokens be allocated to ENA holders.
  • ENA price has dropped to $0.384 after hitting a high of $0.42 amid high trading volume.

The recent proposal to integrate Ethereal Exchange with the Ethena Network has stirred significant excitement in the cryptocurrency community, leading to notable fluctuations in the price of Ethena’s native token, ENA.

This integration aims to launch Ethereal, a decentralized exchange (DEX) for both spot and perpetual futures trading, directly tied to Ethena’s reserve management and its native stablecoin, USDe.

Ethereal integration proposal

The proposal submitted on September 29 to the Ethena governance forum by an anonymous author known as Fells0x seeks to integrate the Ethereal DEX into Ethena’s reserve management from launch, providing a fully on-chain venue for managing both spot and derivative positions that back USDe.

The integration promises to enhance the utility and demand for USDe, which has gained a solid foothold in the market as the fourth-largest stablecoin, boasting a market capitalization of $2.5 billion, according to DeFiLlama.

A critical aspect of the proposal is its commitment to allocate 15% of any future Ethereal governance tokens to ENA holders. This incentive is designed to ensure alignment between the Ethereal team and the Ethena community.

Ethena price reaction

Following the announcement, traders quickly reacted to the potential benefits outlined in the proposal, pushing ENA’s price up by an impressive 20% to a peak of $0.42.

The excitement was reflected in trading volumes, which surged by 145% over 24 hours, indicating heightened interest and optimism among investors. The futures market also witnessed a significant uptick, with ENA futures open interest increasing by over 13% within four hours.

However, the volatility of cryptocurrency markets is well-known, and fluctuations are to be expected. At press time, ENA was trading at $0.384, reflecting a considerable decline from $0.42.

Despite these recent dips, ENA has shown remarkable resilience, rallying over 81.4% in the two weeks.

The post Ethena (ENA) price pumps and dumps after proposal to integrate Ethereal Exchange appeared first on CoinJournal.

Veröffentlicht am

Kasikornbank to launch Thailand’s first licensed digital asset custodian

  • Kasikornbank is set to launch orbix Custodian, Thailand’s first licensed digital asset custodian.
  • Operations for orbix Custodian are set to begin in early 2025 after licensing.
  • KBank also focuses on AI development through its partnership on Project SEALD.

Thailand’s second-largest bank by assets, Kasikornbank (KBank), is set to launch orbix Custodian, the country’s inaugural licensed digital asset custodian, which will be supervised by the Securities and Exchange Commission (SEC).

Notably, the announcement comes two weeks after the license was issued on September 13, with operations expected to commence in early 2025. The license was issued by the Ministry of Finance.

KBank’s President, Pipit Aneaknithi, in a statement issued by the bank emphasized that the introduction of the custody service marks a pivotal moment for the digital financial infrastructure in Thailand. “This will lay a strong foundation for further development of digital financial infrastructure, promoting Thailand as a digital economy hub and advancing the country’s digital industry, in response to government policy to accommodate future changes in the financial sector,” he stated.

The launch of orbix Custodian follows a series of strategic moves by KBank to enhance its presence in the digital asset sector. The custodian is owned through its digital-focused subsidiary, Unita Capital, which also encompasses orbix Invest and orbix Technology.

Notably, orbix Trade, a cryptocurrency exchange previously known as Satang, was acquired by Unita Capital in October 2023.

In early September, orbix Technology introduced the Q-Bond project, issuing bonds worth 500 million baht ($15.4 million) on the Quarix blockchain. These bonds come with a one-year maturity and a fixed interest rate of 2.38%, in partnership with the state-owned oil and gas company PTT.

In addition to its digital asset initiatives, KBank is making strides in artificial intelligence. Its subsidiary, Kasikorn Business Technology Group (KBTC), has partnered with AI Singapore and Google Research on Project SEALD (Southeast Asian Languages in One Network Data).

Launched in March, this project aims to develop large language models (LLMs) in several Southeast Asian languages, including Thai, Indonesian, Tamil, Filipino, and Burmese, further highlighting KBank’s commitment to technological advancement in the region.

The post Kasikornbank to launch Thailand’s first licensed digital asset custodian appeared first on CoinJournal.

Veröffentlicht am

Binance granted full Digital Asset Trading License in Kazakhstan

  • Binance Kazakhstan has secured a full DATF license from AFSA for digital assets.
  • The license allows trading, brokerage, and custody services in Central Asia.
  • The crypto exchange underwent rigorous audits and ISO certifications to ensure compliance with regulatory standards.

In a significant regulatory development, Binance Kazakhstan has successfully obtained a full Digital Asset Trading Facility (DATF) license from the Astana Financial Services Authority (AFSA).

This milestone enables the platform to offer a comprehensive range of services, including trading, broker-dealer activities, and custody of digital assets within the region.

Binance Kazakhstan a pioneer in Central Asia’s digital asset space

This achievement not only marks Binance Kazakhstan as a pioneer in Central Asia’s digital asset landscape but also reflects its commitment to meeting stringent regulatory standards.

The DATF license empowers Binance to establish a robust trading facility in Kazakhstan, aligning its operations with the regulatory framework set forth by the Astana International Financial Centre (AIFC).

To secure this license, Binance Kazakhstan underwent an extensive multi-stage review process. This included thorough external financial audits and ISO certifications, ensuring compliance with key regulatory codes, such as the AIFC Digital Asset Activities and Conduct of Business Rules, alongside strict anti-money laundering (AML) regulations. These measures are vital in establishing the trust and security needed for users engaging in trading and custody services.

Binance’s foray into Kazakhstan is indicative of the growing acceptance and regulatory advancements within the cryptocurrency sector, particularly in Central Asia.

By becoming the first digital asset platform in the region to obtain such a license, Binance Kazakhstan sets a benchmark for other platforms aspiring to operate under similar regulatory conditions.

Binance’s proactive approach highlights the importance of regulatory compliance in fostering a secure and reliable environment for cryptocurrency trading. The licensing milestone not only benefits Binance but also enhances the overall legitimacy of the digital asset industry in Kazakhstan and beyond.

The post Binance granted full Digital Asset Trading License in Kazakhstan appeared first on CoinJournal.

Veröffentlicht am

Binance to list EigenLayer (EIGEN): Is Bitcoin Dogs next?

Binance announced on September 30, 2024 that it will list new crypto token EigenLayer (EIGEN), adding to a notable list of cryptocurrency exchanges adding trading support for the Ethereum restaking project.

Meanwhile, crypto project Bitcoin Dogs – which also landed on major exchanges recently – is looking to strengthen in the market. This comes as traders speculate on the potential for Binance or other exchanges to list 0DOG.

EigenLayer (EIGEN) to list on Binance

In its announcement, Binance said it will be adding the EigenLayer (EIGEN) token for spot trading on October 1, 2024 starting at 05:00 UTC. Expected trading pairs will be against Bitcoin, USDTm DFUSD and the Turkish Lira. Specifically, trading pairs with a Tag seen will be EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD, and EIGEN/TRY.

Once trading begins, Bnance will allow withdrawals from 05:00 UTC on October 2, 2024. As well as Binance, other exchanges adding trading support for EigenLayer include Coinbase and BitMart. Coinbase announced it added EigenLayer to its listing roadmap last week.

Anticipation within the EIGEN community is high as the Ethereum restaking protocol’s native token lands on major exchanges. This is due to the fact that EIGEN listing, particularly on Binance and other global exchanges, adds to overall project visibility and accessibility.

A surge in demand has often seen such tokens outperform the broader market, with several Binance-listed tokens in 2024 outpacing BTC.

EigenLayer may see such a traction, especially after the project announced a lift on transfer restrictions for EIGEN. After months of non-transferability for the coins following earlier distributions, tokens will be available for trading starting September 30, 2024.

Bitcoin Dogs: Is a major exchange listing next?

One of the biggest token launches of the year so far was that of Bitcoin Dogs (0DOG). The project which pioneered the BRC-20 ICO on Bitcoin, stormed to a $13.4 million presale.

Getting traction during the presale with attention on Bitcoin and the emergent layer 2 ecosystem, Bitcoin Dogs’ main selling point quickly cemented around gaming and NFTs.

The roadmap highlights various milestones towards this goal, including the launch of 10k Ordinals NFTs and expansion of its GameFi presence by tapping into the popular tap-to-earn economy.

Recently, Bitcoin Dogs went live in the market, launching on major cryptocurrency exchanges Gate.io, MEXC and Uniswap. But the community is rife with speculation that this P2E related crypto project could be listed on Binance and other exchanges.

Is it a good time to buy 0DOG?

Several meme coins and tap-to-earn economy coins, including Catizen, Hamster Kombat and Dogs have spiked in price and industry visibility with such listing activity. While Binance has not indicated it will list 0DOG, the long-term view across the space is positive. This view is that a great project will attract users and eventually top exchanges.

Meanwhile, Bitcoin Dogs is also attracting interest after its recent 100 million 0DOG burn.

There’s also a 2 million 0DOG reward pool. Holders can tap into the 0DOG-ETH liquidity pool, stake and start earning LP tokens. The APY started at 1000% and currently sits around 440% with farming rewards paid daily

Ahead of a potential price rebound, current price levels of $0.006 may be a good entry point. However, 0DOG has struggled in recent weeks and may see further declines. Bitcoin’s slip from above $66k also adds to the overall weakness.

Learn more about Bitcoin Dogs here.

The post Binance to list EigenLayer (EIGEN): Is Bitcoin Dogs next? appeared first on CoinJournal.

Veröffentlicht am

Report: Bithumb considers listing on the Nasdaq

  • Bithumb is South Korea’s second-largest crypto exchange
  • The company held a shareholder meeting on September 30 and is eyeing a potential listing on Nasdaq

Bithumb, the second-largest crypto exchange in South Korea, is reportedly considering public listing in the US.

According to a local news report in dnews, Bithumb held an extraordinary shareholder meeting in which the company deliberated on the potential to list on the Nasdaq.

Bithumb is considering an IPO in 2025

The meeting held on Sept. 30 reviewed the consideration around an initial public offering in the second half of 2025. Also featured on the agenda was the company’s name – with shareholders passing the resolution to change the name from Bithumb Korea to Bithumb. Initially, the exchange went by BTC Korea.com.

News of Bithumb’s plans to go public in the US comes as a few other crypto companies, including Circle, have recently revealed IPO plans. Crypto news provider Wu Blockchain also shared the potentially huge Bithumb move.

Bithumb first moved towards the push to become a publicly-traded company in 2020. But with crypto regulatory hurdles and accounting standards unfavourable, the company gave up the KOSDAQ IPO plans.

The exchange is still open to a domestic listing. However, it’s also eyeing an overseas offering given the example of Coinbase.

For its US IPO, the South Korea-based crypto exchange will work with Samsung Securities as the lead underwriter. Bithumb’s market share has hovered between 10% and 20%, and the potential for Nasdaq listing and presence could spark further growth.

The post Report: Bithumb considers listing on the Nasdaq appeared first on CoinJournal.