Editor's Choice

Crypto News Flash

Thirteen of the 21,863 crypto assets listed on CoinMarketCup are up more than 10 percent this week. The biggest losers this week include chiliz (CHZ) down 24.16%, chain (XCN) down 16%, and algorand (ALGO) down 12.67%.

At present, the global trading volume of cryptocurrencies is 36.84 billion US dollars, and USDT accounts for 26.78 billion US dollars of it. The global trading volume of BTC is about $19.3 billion, and the trading volume of ETH is about $4.38 billion.

Kanav Kariya, president of Jump Crypto, spoke on Sunday about the need for a better trust layer in cryptocurrencies. The executive believes that with the collapse of centralized exchanges, there is now increasing collective pressure to build a stronger and faster trust layer.

Kanav Kariya added that FTX’s alleged fraud would have been considered fraud 100 years ago. It’s a cruel trick to surface in an industry premised on the abstraction of trust, and in an environment of declining social trust, cryptocurrencies and the abstraction of trust make more sense than ever The breakup has had a serious negative impact on our industry and, in my opinion, greatly outweighs the positive impact. Low trust dramatically slows innovation and progress.

The daily trading volume of Yuga Labs’ NFT series has surged, among which the daily trading volume of BAYC is 1,262ETH, the daily trading volume of MAYC is 1,146ETH, and the daily trading volume of BAKC is 340ETH.

It is reported that Horizen Labs previously released a plan to launch the Apestake.io website on December 5 and start pre-deposits. On December 12, it will start accumulating pledge rewards.

In addition, in the past 24 hours, the total transaction volume of all NFT markets exceeded 15,000 ETH (approximately 18.2 million), and the average transaction price was 0.31 ETH. 44.7% of ETH trading volume comes from OpenSea, 34.9% from Blur, 10.4% from X2Y2, and 8% from Looks Rare.

The NFT-themed restaurant Bored and Hungry will open a pop-up store during the Philippine Blockchain Week, which will only be open for three days, from November 29th to December 1st. This will be the first time Bored and Hungry has opened a pop-up store in a Southeast Asian country.

The first Bored Ape Yacht Club (BAYC) NFT-themed restaurant, Bored & Hungry, officially opened in Long Beach, California, USA on April 9, local time.

It is reported that the Bored & Hungry restaurant will be open for 90 days in the form of a pop-up store. The restaurant accepts ApeCoin (APE), ETH, and debit/credit cards as payment methods. Three months after opening, Bored & Hungry no longer accepts payments in cryptocurrencies, and meals only show prices in U.S. dollars.

According to data from the official website of Ethereum, the ARP of ETH pledged on the Ethereum beacon chain has dropped again, currently at 3.8%.

Historical data shows that the indicator fell below 4% on November 14, the second time this month it fell. Currently, the total amount of pledged ETH on the Ethereum beacon chain is 16,244,637 ETH, and the total number of validators is 479,543.

The recent WBTC/BTC de-anchoring caused doubts among members of the encryption community. The community took the opportunity to publish a spoof article mocking WBTC, “WETH has de-anchored from ETH, and poorart.weth announced that it has filled its $2 billion shortfall by raising funds.” The contract directly encapsulates the token of ETH, and the contract level can realize 1:1 exchange.

Poordart.weth, co-founder of the Wrapped Ethereum (WETH) Foundation, also joked, “Unfortunately, the rumors are true. The entire project will be returned to the community (except the treasury), and I will go to a non-extradition country to recuperate my spirit.” Justin Sun also joined in, stating that “As a member of the cryptocurrency industry, I have personally discussed with Vitalik Buterin that together we will invest $2 billion in the WETH Foundation to restore all funds.”

Dune data shows that Alameda Research, which has filed for bankruptcy, is the largest minter of WBTC. Twitter user Castaneda stated that Alameda has acted as a merchant at Wayback Machine Checkpoint since at least September 28, 2020, but Alameda can only mint WBTC, not custody BTC. Now Alameda is no longer listed as a merchant, and the Alameda custodian wallet cannot be found on the audit page.

By checking the wallet of its previous custodian, it was found that the wallet was emptied, and the last 5,000 BTC were withdrawn on November 11, shortly after the FTX crash. Castaneda emphasized that it does not believe this poses any systemic risk, as custodians still maintain the necessary reserves to ensure a 1:1 ratio between WBTC/BTC. WBTC still looks solid, with price swings that appear to be driven more by market panic than insolvency.

According to data from blockchain analysis company Glassnode, 179,250 BTC have flowed out of exchanges in the past month, worth more than $2.8 billion, reaching the highest level in more than four years.

According to the analysis of encrypted data company Santiment, since November 24, 2018, the supply of Bitcoin on encrypted exchanges fell below 7% for the first time, accounting for 6.95%.

According to coingecko data, after Argentina defeated Mexico on November 27, the fan token ARG continued to fall, and has now dropped to $4.18, a drop of 14.7% in the past 24 hours, and a drop of 51.1% during the World Cup.

ARG hit an all-time high of $9.19 on November 18 before the start of the World Cup, but it plummeted after Argentina lost to Saudi Arabia, and has been on a downward trend ever since.

According to data from Dune Analytics, the cumulative lock-up volume of ERC-20 Token on the Ethereum Layer 2 network Arbitrum chain exceeded $5 billion, reaching $5.188 billion at the time of writing.

As of now, the total lock-up volume on the Arbitrum chain is 3.157 billion US dollars, the total number of contracts created on the chain is 1,007,716, the total number of transactions has reached 68.78 million, and the total number of accounts created on the chain is 2.01 million, of which the number of active accounts is 158.6 ten thousand.

According to Coinmarketcap data, about $3.5 billion worth of stablecoins have been redeemed in the past 14 days. Among them, the supply of USDT, the stablecoin issued by Tether, has dropped from more than $67 billion to $65 billion, which means that since the collapse of FTX, investors Approximately $2 billion in USDT has been redeemed.

This concern has also spread to Binance-backed BUSD, whose supply has dropped from over $23 billion to around $22.5 billion, a loss of $500 million. DAI was also affected, with its supply falling from $5.7 billion to $5.2 billion.