Schlagwort: crypto business

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Manta Network (MANTA) hit by DDoS attack

  • Manta Network (MANTA) price slips amid disruptive DDoS attack.
  • Network is experiencing longer transaction times and increase in gas fees.
  • MANTA price reached highs of $2.72 after its Token Generation Event (TGE) but was down to $2.13

Manta Network debuted its MANTA token on exchanges on Thursday, with the listing on Binance, BingX, MEXC among others seeing its value skyrocket to above $2.72.

The token is however 20% down since that peak as the team acknowledged a distributed denial of service (DDoS) attack. The DDoS attack coincided with the Layer 2 modular blockchain’s Token Generation Event (TGE) on January 18. The attack flooded the network with more than 135 million fake RPC requests.

On Friday, the Manta team posted on X that following the DDoS attack, the network was experiencing transaction delays. The accumulation of large queues of transactions was also impacting gas fees, the platform said.

“Because of yesterday’s DDoS attack, the network has accumulated a large queue of recent transactions. This is leading to longer transaction times and impacts on gas fees. We are aware of this issue and working to resolve it,” a statement the blockchain platform posted on Friday stated.

MANTA price was down to $2.13 at the time of writing.

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South Korea president’s office urges FSC to reconsider its spot Bitcoin ETFs stance

  • Will South Korea allow spot Bitcoin ETFs? The Financia Services Commission had warned brokerage firms against offering recently listed US spot Bitcoin ETFs.
  • President’s office urges FSC to reconsider stance, noting possibility if incorporating foreign-listed products.

The South Korean president’s office has urged the Financial Services Commission (FSC) to reassess its stance on the trading of the recently approved spot Bitcoin ETFs.

Earlier this month, the Securities and Exchange Commission (SEC) approved eleven spot Bitcoin ETFs – the nod coming a decade after the first application. But only a day after the ETFs hit the market, the FSC released a statement warning local firms against providing access to the foreign-listed products.

An official of the FSC had also noted that South Korea wasn’t looking to follow the US in allowing spot ETFs.

Government urges FSC to review stance

On Thursday, details in a local media outlet revealed that South Korea’s Office of the President is urging the country’s financial regulator to revisit the matter.

Sung Tae-yoon, chief of staff for policy in the president’s office, said during a briefing on Thursday that the government had told the FSC “not to have a specific direction of ‘yes or no’” stance. The view is that there’s need to find how best to incorporate the new ETFs and other markets into the local financial ecosystem, Tae-yoon added, noting the government was considering this direction.

On January 12, the FSC said in a press release that local securities firms looking to broker Bitcoin spot ETFs listed overseas may violate the government’s current stance on virtual assets. Providing access may also be in violation of the Capital Markets Act, it added.

The outlook contrasts with that of Hong Kong, where regulators are open to spot ETFs.

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SEI, SUI, RUNE slump as Bitcoin drops amid Grayscale dump

  • Sei (SEI) Sui (SUI) and THORChain (RUNE) were among biggest decliners on Thursday as Bitcoin and Ethereum struggled.
  • Declines for BTC came amid ongoing sell-off from Grayscale, which had deposited over $1.7 billion in BTC to Coinbase Prime since January 12.

The crypto market flipped red on Thursday afternoon as Bitcoin price fell below $41,500 again. Altcoins were also struggling, with Ethereum below $2,500 as the global crypto market cap shrunk by about 2.4% to $1.71 trillion.

Among the biggest losers on the day were Sei (SEI), down 15%; Sui (SUI) down 10%; and THORChain (RUNE), down 13% at the time of writing.

Grayscale dumping BTC amid ETF redemptions

The crypto downturn came as Grayscale transferred another 9,840 BTC worth $418 million to Coinbase Prime, with the total amount of BTC moved from the GBTC ETF issuer reaching 41,478 BTC. In total, Grayscale has moved over $1.7 billion in BTC to Coinbase Prime since January 12, with these sold as the company handles redemptions.

On Thursday, Grayscale saw $450 million in outflows. Alex Thorn, head of research at Galaxy noted this outlook on X.

Both BTC and ETH were trading 3% down in the past 24 hours, while in the top 10 cryptocurrencies by market cap, Solana had shed more than 5% as it dipped below $100, while Avalanche was trading nearly 6% in the red at $33.49.

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Is Everlodge ($EGLD) a buy as Thailand boosts real estate-backed tokens?

  • Thailand lifts restrictions on real estate-backed tokens for retails: 
  • Should you buy Everlodge? This project aims at disrupting the vacation property space.
  • $EGLD’s presale continues to attract attention from traders.

In latest crypto news, Thailand’s Securities and Exchange Commission (SEC) has updated its regulatory restrictions on retail participation in real estate-backed tokens. The development could see more retail investors in the country join real estate investment trusts (REITs) and token-backed property projects.

As the industry digests this development, a new project that seeks to democratize the real estate investment space, is gearing up for market debut as its presale draws towards a close.

Here’s what Thai’s regulatory move means and how Everlodge ($EGLD) is positioned to transform the property industry via tokenization.

Retail investors can join real estate-backed ICOs

An update by the Thai SEC on January 18, 2024 says that the regulator has revised the criteria for retail investing in digital tokens whose underlying asset or revenue streams is real estate or infrastructure.

The regulator announced the lifting of its previous requirement that retail investment in real estate-backed or infrastructure-backed tokens could only invest up to 300,000 baht ($8,500).

With this update, retail investors have more opportunities to participate in the real estate market. This new approach to digital tokens took effect on January 16, the regulator noted.

Everlodge ($EGLD) brings fractional real estate ownership to retailers

If you ever wanted to invest in a luxury villas, hotels and vacation homes but couldn’t make the cut, now you can do it via fractional investing.

Everlodge ($EGLD), a crypto startup that wants to bring the real estate marketplace to the blockchain. Statista estimates that this core investment sector will grow at a compound annual growth rate (CAGR) of 3.41% from 2024-2028, projecting a market size of over $729 trillion by end of 2028.

As tokenization drives more interest amid adoption of real-world assets on the blockchain, retail investors can diversify with Everlodge, taking a stab at competing for investment opportunities in the vast real estate market.

As an example, a retail investor can take up an investment as an owner of a luxury home for as little as $100. Then, as the value of vacation property explodes, so will the fractional shares’ price, giving retailers a chance to be part of this market.

Everlodge aims at accelerating this, with its fractional trading marketplace, powered by the native $EGLD token. The token functions as the native currency in the Everlodge ecosystem and will offer staking opportunities as well as discounts on marketplace purchases.

With ownership and deed titles stored as NFTs, trading opens another layer of opportunities for the community.

$EGLD is currently available only via presale.

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Robinhood’s SHIB holdings hit 36.684T amidst burns and whales’ accumulation

  • 36.684 trillion SHIB tokens were added to Robinhood in 24 hours, fueled by investor interest.
  • Notable SHIB whale moves and a 28,600% burn rate increase.
  • Shiba Inu strategic partnership with D3 Global collaboration, SHIB domain acquisition, and ICANN pursuit.

In a remarkable turn of events, Robinhood’s Shiba Inu (SHIB) wallets have witnessed a staggering surge, accumulating 231 billion tokens in just 24 hours. This unprecedented growth, revealed by Arkham Intelligence data, brings Robinhood’s SHIB holdings to an impressive 36.684 trillion tokens.

As the crypto community closely watches, this surge is a testament to growing investor interest. It aligns with broader trends, including significant whale activities and strategic partnerships within the Shiba Inu ecosystem.

SHIB accumulation on Robinhood

Robinhood, the commission-free trading platform, is making headlines with its substantial accumulation of Shiba Inu tokens. In a single day, the platform’s SHIB wallet saw an increase of 231 billion tokens.

Notably, these exchange wallets reflect user holdings, signifying a substantial surge in SHIB accumulation by investors on the Robinhood platform. Cryptocurrency whales have also played a pivotal role, with one whale moving a staggering 136.8 billion tokens to a newly created wallet on the exchange.

The accumulation of Shiba Inu on Robinhood coincides with a community-driven burn event that has incinerated 9.35 billion SHIB tokens, showcasing a remarkable 28,600% increase in the burn rate.

Last month, the community sent 8.6 billion SHIB tokens for permanent deletion, marking an astounding 160,598% increase from the previous day’s burn rate. This strategic combination of accumulation and burning underscores a dynamic market environment for Shiba Inu.

Recent Shiba Inu partnerships

The surge in SHIB holdings is not isolated but ties into Shiba Inu’s strategic initiatives. A notable partnership with domain firm D3 Global has empowered users to acquire SHIB domain names.

This collaboration positions Shiba Inu as one of the first decentralized projects pursuing a top-level domain name through the Internet Corporation for Assigned Names and Numbers (ICANN). The partnership aligns with the rising burn rate trend within the Shiba Inu community.

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