Schlagwort: crypto business

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Reddit’s r/CryptoCurrency community removes moderators accused of insider trading

  • r/CryptoCurrency removes moderators for MOON token insider trading.
  • Insider trading led to an 85% token price drop, sparking debates.
  • MOON token’s future remains uncertain, with discussions and pending decisions.

In a recent development within the r/CryptoCurrency subreddit, a community of 6.9 million crypto enthusiasts, a group of moderators has been ousted for alleged insider trading of MOON tokens.

This incident has stirred a flurry of discussions within the crypto community, raising questions about fairness, transparency, and regulatory actions.

Moderators removed amid insider trading accusations

Last Tuesday, Reddit announced its decision to terminate the “Community Points” program – a blockchain-based system designed to reward content creators and developers. This program allowed users to earn and spend community points using native tokens like MOON.

However, a significant controversy erupted when it was revealed that some moderators had traded MOON tokens shortly before the official announcement.

Approximately 30 minutes before Reddit’s decision, these moderators reportedly sold 456,353 MOON tokens, valued at $92,000, causing the token’s value to plummet by over 85% to $0.0198.

The gravity of the situation prompted swift action. Reddit’s r/CryptoCurrency community took a decisive step by removing all moderators involved in the insider trading of MOON tokens. This move aimed to address concerns of fairness and integrity within the community.

Future of MOON tokens

The insider trading incident has elicited a range of responses from the crypto community. Some individuals called for regulatory actions against the moderators accused of wrongdoing, emphasizing the need for accountability. Simultaneously, others expressed dissatisfaction with the advance notification given to moderators, arguing that all participants should have been treated equally.

The r/CryptoCurrency subreddit is now actively deliberating the future of MOON tokens.

A proposal put forth by u/mellon98, a core contributor and founder of MoonsDust, is under consideration. Additionally, the community awaits Reddit’s decision on whether to transfer the MOON token contract to the community or a burn address.

In the midst of this turmoil, r/CryptoCurrency asserts its commitment to the MOON community token, emphasizing that “Moons are here to stay.”

The Reddit r/CryptoCurrency community’s actions reflect its dedication to upholding these principles and ensuring the sustained presence of MOON tokens in the crypto space.

The post Reddit’s r/CryptoCurrency community removes moderators accused of insider trading appeared first on CoinJournal.

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Aptos bullish after the anniversary outage, here’s why APT price is rising

  • There has been some substantial in-game activity on the Aptos Arena.
  • There has also been an overall positive sentiment in the cryptocurrency market.
  • The price of Aptos (APT) token has climbed by 21% over the last 7 days.

The Aptos (APT) cryptocurrency has been making headlines with its impressive performance, recently breaking through the $6 mark, and gaining a staggering 21.01% in the past week alone. The token is rising four days after Aptos suffered a five-hour outage. The outage coincided with the same week that Aptos was launched in 2022.

This remarkable price surge has piqued the interest of investors and crypto enthusiasts. But what is driving this extraordinary growth in the Aptos network, and why is it attracting significant attention?

Aptos’s rapid expansion and global presence

Aptos Network has been experiencing rapid expansion, with a notable milestone of 112 nodes operating around the world. These nodes are strategically distributed across 25 different countries and 50 cities, ensuring a resilient and globally accessible network infrastructure.

The increase in the number of nodes plays a crucial role in enhancing the stability and security of the network, attracting more users and developers to participate in the Aptos ecosystem.

In-game activity on Aptos Arena

One factor contributing to Aptos’ remarkable growth is the burgeoning adoption of its online multi-player game platform, the Aptos Arena. The Arena is seeing a surge in activity with over 12,000+ unique players, 67,000+ spawns, and a staggering 150,000+ transactions as of October 23.

The game is sprawling with activity as gamers compete to spawn and earn APT for every kill. There are also over $10,000 in giveaways plus NFTs.

These statistics highlight the robust engagement within the Aptos Arena, indicating its popularity and the thriving in-game ecosystem it offers.

APT price analysis

Aptos (APT) is currently trading at $6.0596 with a market capitalization of $1,491,384,688, securing its position at 33 in the cryptocurrency market.

The trading volume in the last 24 hours reached $455,290,068, ranking Aptos at #12 by volume. With a circulating supply of 246,120,278 APT and a total supply of 1,061,598,542 APT, Aptos demonstrates a healthy token distribution. The fully diluted market cap for APT is estimated at $6,430,581,495.

Notably, Aptos has experienced significant price fluctuations, with its all-time high recorded at $19.90 on January 30, 2023, and an all-time low of $3.09 on December 30, 2022. Despite these fluctuations, the recent bullish trend indicates that Aptos is making strides to reclaim its previous highs.

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Chainlink price: LINK jumps 13% to hit 1-year high

  • Chainlink (LINK) price has surged more than 23% in the past week.
  • On-chain data shows LINK price soared amid whale accumulation.
  • Most of the whale accumulation and massive uptake has been on South Korea exchanges Bithumb and Upbit.

Chainlink (LINK) price traded above $9.75 on Sunday, hitting its highest level since May 2022 amid a positive broader crypto market. The price of LINK was up 13% in the past 24 hours and 23% in the past week at the time of writing.

But as LINK price eyes a retest of the $10.00 level, analysts looking at on-chain data say traders are likely to benefit if they watch out for whale activity.

Why has LINK price been soaring?

Chainlink, whose oracle network is seeing staggering adoption, including after its Cross-Chain Interoperability Protocol (CCIP) went live, has been one of the top performers in the crypto market amid the latest bullish sentiment.

According to on-chain analytics and smart money account Lookonchain, the surge in LINK price coincided with whale accumulation and massive uptake on South Korea exchanges Bithumb and Upbit. During the price surge, data indicates the two leading Korean exchanges accumulated 945K LINK, worth about $9 million.

Currently, exchanges hold roughly 202.6 million LINK, which represents 20.26% of total supply and is valued at about $1.9 billion. While 37.45 million is currently staked by holders, there are “many giant whales of $LINK,” including one with 81 addresses holding over 11 million tokens and another with 38 addresses holding over 8.35 million LINK tokens.

Chainlink price outlook

As well as the 30-day time frame, Chainlink’s native token is up over the past one-year, with its current price a 52-week high. However, while LINK/USD has enjoyed some upside episodes year-to-date, prices were largely constrained below the $8.60 mark. Chainlink also fell to lows of $4.77 in June this year.

Chainlink price on weekly chart. Source. TradingView

On-chain data suggests whales could be looking for some profit deals after aggressive accumulation over the past several weeks. The outlook comes after Chainlink (LINK) whale activity soared to new highs.

Whale activity was also behind LINK’s surge in July. The latest price spike is likely to attract some downside pressure.

“This whale bought 1.25M $LINK ($9.5M) on-chain at an average price of $7.58 and has made a profit of $2.1M at the current price. Be wary of whales selling $LINK for profit,” Lookonchain posted on X.

While continued whale accumulation portends possible near-term price explosion, its likely the spike to near $10 could come with some sell-off pressure.

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XRP creator Ripple Labs’ potential IPO on the horizon; Tezos & InQubeta gain traction

The Ripple (XRP) community and the entire crypto community are abuzz with the possibility of Ripple going public through an IPO. This could be a game-changer, with XRP positioned to skyrocket. Meanwhile, Tezos (XTZ) and InQubeta (QUBE) have become investor darlings, gaining significant traction and riding bullish waves.

With exciting times on the horizon, this article will delve into Ripple’s impending IPO and its potential impact on XRP’s price. Further, this article will also explore the momentum and growing interest in Tezos and InQubeta.

InQubeta (QUBE): the rising star

While Ripple Labs is toying with the idea of an IPO, InQubeta (QUBE) is gearing up to be the best ICO (initial coin offering) of 2023. To date, a staggering $3.7 million has been raised in its presale, positioning it as a top ICO. The momentum in its fundraising phase can be attributed to its unique value proposition. This stands at the intersection of two of the most transformative innovations: blockchain and AI.

By leveraging blockchain technology, it aims to disrupt the AI sector and reshape its fundraising landscape. With this in mind, it seeks to become the first blockchain-based crowdfunding platform for AI startups through crypto. Further, it will also democratize access to the fast-expanding AI market by utilizing NFT and a fractional investment model. With this, investors will be able to hold a stake in promising AI ventures regardless of their income.

The above largely contributes to the acceptance of InQubeta and its traction. To be an early adopter, investors can participate in its presale, currently in stage 4, at a token price of $0.0133. With a projected 3,000% growth after launch, it is arguably the best new crypto to invest in.

Ripple (XRP) toys with the idea of going public through an IPO

The excitement within the XRP community cannot be contained as speculations grow regarding Ripple going public. Initial public offerings (IPO), although popular in traditional financial markets, have also become relevant in the crypto world. Ripple Labs going public through an IPO means it intends to provide an opportunity for public investment. In other words, Ripple will be transitioning from private ownership to becoming traded on a public stock exchange.

Undoubtedly, this is a strategic move that will benefit the entire Ripple ecosystem, notably XRP. It will also bring a new level of credibility and accessibility to the broader crypto market. As the much-anticipated IPO draws near, there has been increasing speculation on how much XRP’s price may soar during the upcoming bull run. Hence, investors are hoping to capitalize on the company’s growth, making XRP a good crypto to buy now.

Tezos (XTZ): growing traction

Tezos (XTZ) is a blockchain platform based on smart contracts. It is prominent for its focus on self-amendment, which allows it to evolve and improve over time without a hard fork. Hence, it is self-dubbed “secure, upgradable, and built to last.” At the heart of the Tezos ecosystem is XTZ, which plays a governance role amongst others. Its community can vote on proposals for protocol upgrades, giving them a say in its future.

The recent upward trajectory in the price of Tezos is a testament to its critical role in the blockchain space. Furthermore, it also suggests a shift in sentiment. With Tezos set to play a significant role in shaping the future of smart contracts and decentralized applications, it is a top crypto to invest in.

Conclusion

The potential Ripple Labs IPO, coupled with the growing momentum of Tezos and InQubeta, are exciting developments in the crypto community. With these projects making waves, they are altcoins to watch. 

For information on how to acquire the QUBE token, you can visit InQubeta Presale or join The InQubeta Communities.

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Tether plans to start publishing real-time reserve reports in 2024

  • Tether is planning to introduce real-time reserve data reporting by 2024.
  • Tether currently updates its reserve data daily and issues monthly and quarterly reports,
  • According to its Q2 attestation Tether reserves had an excess of $3.3 billion.

Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), is gearing up to enhance the transparency of its operations by updating the frequency of releasing reserve data reports.

According to Paolo Ardoino, Tether’s Chief Technical Officer and the upcoming CEO, the company is planning to initiate real-time publication of reserve data by the year 2024.

Transparency of Tether’s reserves

The move comes in response to ongoing concerns about the transparency of Tether’s reserves, which is essential for maintaining trust in the stablecoin. Currently, Tether publishes and updates its reserve data at least once a day. In addition to daily updates, the company also issues monthly reserve reports and quarterly reserve reviews.

In Tether’s latest Q2 attestation, performed by accounting firm BDO, it was revealed that the company had bolstered its excess reserves by $850 million, bringing the total excess reserves to a substantial $3.3 billion. Furthermore, the report disclosed that Tether had approximately $72 billion worth of indirect exposure to United States Treasuries held by money market funds, with US Treasuries collateralizing its overnight repurchase agreements.

Real-time reserve reporting

This commitment to real-time reporting is a significant step toward ensuring the stability and reliability of Tether in the cryptocurrency market. The move will provide users and investors with immediate and up-to-date information on the assets underpinning the stablecoin, thereby addressing previous criticisms and increasing credibility.

Tether’s efforts to enhance transparency align with the broader objectives of creating a trustworthy environment for stablecoin users and investors.

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