Features TheBitTimes.com

Sui token’s (SUI) price has struggled over the past month, falling to a one-month low of around $0.46 on Aug. 18 as almost the whole crypto market turned red.  However, as the asset’s social activity grew, SUI’s price turned green, recording a 6.7% rise over the past 24 hours. According to Santiment, the Sui token’s social dominance surged by 200% in the past 24 hours — this happened for the first time since mid-May 2023. SUI price, social dominance, total OI and development activity – Aug. 23 | Source: Santiment On the other hand, the asset’s total Open Interest (OI) has dropped from $771 million to $604 million over the past three days. Per Santiment, SUI’s total OI suddenly rose from $469 million on Aug. 16 to $702 million on Aug. 17. You might also like: Sui announces the launch of its developer portal  According to data provided by the market intelligence platform, the development activity of the Sui network has been consistently dropping since the star...

What are the Pros and Cons of NFTs?: Everything You Need to Know Non-Fungible Tokens (NFTs) have gained significant popularity in recent years, revolutionizing the way we perceive and interact with digital assets. As the NFT market continues to grow, it is important to understand the pros and cons of investing in these unique digital assets. In this article, we will explore the advantages and disadvantages of NFTs, providing you with valuable insights to make informed decisions. Also read: Stablecoins Account for 86% of Transfer Volume: NFTs, Gaming Chip In 0.18% Source: DigitalTokens.io What are NFTs? NFTs, or Non-Fungible Tokens, are unique digital assets that are represented and stored on a blockchain. Unlike cryptocurrencies such as Bitcoin, which are fungible and can be exchanged on a one-to-one basis, NFTs are unique and indivisible. Each NFT has a distinct digital footprint, making it one-of-a-kind and irreplaceable. Advantages of NFTs Easy Access and Ownership...

Dubai ’s Virtual Asset Regulatory Authority (VARA) has approved crypto custodian Komainu to provide services to its clients in the region. Komainu is a joint venture between Japanese financial institution Nomura, blockchain firm Ledger, and crypto investment firm CoinShares. According to the report, the firm is the first crypto custodian to receive a full Virtual Asset Service Provider (VASP) license in Dubai . Dubai ’s VARA has four stages before getting a full license. Firstly, the firm gets a provisional permit. This is followed by preparatory and operating a minimal viable product (MVP) license. And finally, if everything checks out, the firm receives a full market product (FMP) license. Also Read: Dubai Regulator Imposes Fines on 3AC Founders Linked to OPNX Exchange Komainu received preliminary approval to operate in Dubai in July 2022. The firm received its MVP license a few months later, in November, before finally receiving the FMP license. The FMP license al...

Vitalik Buterin is a co-founder of Ethereum, the second-largest cryptocurrency by market capitalization. During the recent market downtrend, numerous individuals transferred funds within the cryptocurrency ecosystem. Notably, Buterin moved a substantial amount of Ethereum [ ETH ] recently. On-chain data revealed that Buterin orchestrated a transfer of 600 ETH , which held a value of approximately $1 million. The ETH was moved in a single transaction to the cryptocurrency exchange Coinbase. JUST IN: #Ethereum founder Vitalik Buterin transfers 600 $ ETH ($1,000,000) to Coinbase. — Watcher.Guru (@WatcherGuru) August 21, 2023 Buterin’s move comes amidst a recent market slump The nature of Buterin’s recent transaction is not yet known. Some speculation indicates he could be selling, leading certain people to point out this as the start of a dumping season. Also read: Logan Paul’s CryptoZoo Investors Still Waiting on Refunds 8 Months Lat...

Sam Bankman-Fried, the co-founder of FTX, is seeking space outside detention weekly to prepare for his upcoming trial. His attorneys rejected a two-day-a-week release proposal offered by the U.S. government. Detention conditions challenged Bankman-Fried has been in a New York jail for a week, but he is requesting to be release d five days a week so that he may work on his defense with his attorneys at the federal courthouse in Manhattan. The disgraced entrepreneur’s attorneys claimed in a letter sent on Aug. 18 to U.S. District Judge Lewis Kaplan that Bankman-Fried couldn’t thoroughly review the massive amount of documents in his case while he was detained at the Metropolitan Detention Center in Brooklyn. Bankman-Fried, 31, had his $250 million bail revoked last week for allegedly attempting to tamper with witnesses. You might also like: Binance CEO criticizes Sam Bankman Fried’s actions In a letter to U.S. District Judge Lewis Kaplan in Manhattan, attorneys...

Bitcoin’s (BTC) price , was quite bearish today and was still below the $30,000 threshold at $25,955.13,   and down by more than 1% since yesterday. Other well-known altcoins, Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), also experienced losses on the other side of the border. advertisement Ethereum is trading at $1,659.7, with almost 1% decrease in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed over 3% dip. Solana also faced a reduction, with its price plummeting by 0.19%. On the other hand, Polygon (MATIC), which traded on green lines a few days back, is down by more than 14% since the last day. On the contrary, the Polkadot coin price saw an increase of almost 2% in its price, in one day.  The realm of meme cryptocurrencies tells a different story. In the past 24 hours,  Dogecoin’s price witnessed an increase of more than 4%, while Shiba Inu’s token price is up...

OpenSea deactivates its royalty tool, aiming for transparency and creator empowerment amidst NFT market shifts. Devin Finzer, the founder of the OpenSea NFT marketplace, has announced that it will be deactivating its royalty enforcement tool.  Starting Aug. 31, OpenSea will no longer maintain the Operator Filter tool. This change will remove any limitations on marketplaces going forward.  To improve transparency, OpenSea is streamlining the process for individuals to determine whether a sale includes the creator’s fee. However, creators who have already implemented the Operator Filter or are utilizing specific digital collections will continue to have their desired fees apply to sales until Feb. 29, 2024. As stated by Finzer in an announcement on Aug. 17, the upcoming changes to the platform aim to empower creators and enhance autonomy within the decentralized web3 ecosystem.  You might also like: Blur dominates, flips OpenSea despite falling NFT trading volume...

Intrigues Behind the Grayscale ETF Job Advert The proactive step from Grayscale is quite shocking to analysts and stakeholders in the digital currency ecosystem considering the complexities surrounding the subject its spot Bitcoin ETF conversion request which is yet to be approved in the United States. advertisement Riding on this delay, Grayscale itself is at the forefront of this complexity as we are almost at the tail end of its legal battle with the Securities and Exchange Commission (SEC) whom it sued last year for refusing its application to convert the Grayscale Bitcoin Trust (GBTC) product to a full-fledged Bitcoin ETF .  The SEC has handled numerous ETF applications in almost the same way. Still, with the recent turn of events bordering on the evolution of the broader industry, firms like Grayscale are now optimistic that a spot Bitcoin ETF approval is a matter of when not if. Industry expert s have always projected a win for Grayscale because o...

CME reported nearly half of its crypto volume year to date came from non-U.S. trading hours and around 11% from the Asia Pacific region. Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia. On Aug. 16, derivatives marketplace CME Group said it’s partnered with crypto indices provider CF Benchmarks and on Sept. 11 to launch the two Asia Pacific-focused crypto reference rates. Reference rates are used as a credible source of a cryptocurrency’s price and are used — in CME’s case — to price settlements of crypto futures contracts. CME Group said from Sept. 11, Asia-based crypto institutions and investors will get two reference rates that will track BTC and ETH, which will be published once a day at 4 pm Hong Kong time. CME Group has existing reference rates for the two cryptocurrencies, but they are published at times more suitable to investors in...

Ripple reiterated the position of XRP as a pivotal bridge currency connecting digital assets to traditional fiat currencies. Ripple reaffirms XRP’s role within its On-Demand Liquidity (ODL) solution. XRP status to institutional clients for ODL services remains a contention in court. The XRP community now believes the U.S. court ruling that Ripple’s sale of XRP to institutional investors represented a security contract is of less concern amid a recent disclosure. Specifically, the recent legal ruling confirming XRP as a digital asset has emboldened Ripple to reaffirm XRP’s role within its On-Demand Liquidity (ODL) service. In a recent tweet, Ripple reiterated the position of XRP as a pivotal bridge currency connecting digital assets to traditional fiat currencies. Ripple underscored the significance of speed, cost-efficiency, and liquidity as driving factors behind its approach to cross-border payment solutions. ️ Speed Savings Liquidity Dis...

The bankrupt cryptocurrency lending firm Voyager is on a dumping spree days ahead of halting all its operations. Data from Lookonchain indicated that Voyager indulged in a massive sell-off worth $63 million in the last four days. The firm sold Bitcoin, Ethereum, Shiba Inu, Chainlink, Matic, and MANA, among many other cryptocurrencies worth millions of dollars. The sell-offs are ringing alarm bells in the markets, as leading assets could tank in price due to the large volume. Also Read: Shiba Inu: Investment of $103 Turns Into $1 Million in 3 Years Here are the total cryptocurrencies that Voyager dumped in the last four days. 781 BTC – $23 million 9,570 ETH – $17.6 million 1.4T SHIB – $14.4 million 234,660 LINK – $1.74 million 1.87M Matic – $1.27 million 3M MANA – $1.1 million Source: Twitter / lookonchain Also Read: Shiba Inu To Reach 5 Cents? Here’s When SHIB Might Hit $0.05 The bankrupt firm has offloaded 49 other cryptocur...

In the fast-paced world of crypto trading, staying ahead of the curve is essential for maximizing profits and minimizing risks. As a seasoned trader, I’ve explored various platforms and tools to enhance my trading experience. One exchange stands out for its user-friendly innovation and game-changing Features : KuCoin. Advantages of Trading Bots Trading Bots have emerged as indispensable tools for modern traders. They offer solutions to critical challenges in the dynamic crypto market. Let’s explore how these bots tackle these challenges head-on. Repetitive Trading Made Easy: Trading Bots excel at automating repetitive tasks, liberating traders from mundane operations, and streamlining their workflow. Precision in Timing and Pricing: Executing trades at precise times and prices is paramount in crypto. Trading Bots offer unmatched accuracy, ensuring traders capitalize on market movements without hesitation. Complex Strategies Simplified: Crypto tra...