Year: 2024

Avalanche Secures $250M in Private Token Sale Ahead of Major Upgrade

Vortex Cryptonews

The fundraising attracted over 40 prominent investors including Galaxy Digital, Dragonfly, and ParaFi Capital, despite Avalanche Foundation already holding $3 billion worth of AVAX tokens. The upcoming “Avalanche9000” upgrade introduces a new subscription model, reducing validator costs from 2,000 AVAX upfront to just 1.33 AVAX monthly. AVAX token has responded positively to the news, trading at $52.89 with a 10% increase in 24 hours and showing strong technical indicators suggesting potential further growth. The Avalanche Foundation has successfully raised $250 million through a private token sale, marking one of the…

Aurora Launches TurboChain and TurboSwap, Transforming TURBO Ecosystem

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Aurora Labs introduces TurboChain and TurboSwap to boost the TURBO ecosystem. TurboChain features low fees, high speed, and Ethereum/NEAR compatibility. Aurora plans to launch 1,000 blockchains by 2025 using Aurora Cloud. Aurora Labs has added two new projects to the TURBO ecosystem: TurboChain and TurboSwap. These innovations are poised to enhance the TURBO community, helping it thrive even further. Aurora collaborated with in developing these projects, leveraging Aurora’s advanced blockchain infrastructure. These new features represent a significant step forward in decentralized finance, making TURBO tokens more useful and supporting community-driven…

Cardano (ADA) Price Prediction: Breakout Run to Target $1.67 before Year-End

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The ADA price challenges a long-term resistance trendline, with a double-bottom reversal pattern forming. Cardano’s transaction count tripled to 10.2K since November but remains down from its peak of 21.97K, signaling mixed network health. Active addresses are rebounding toward 50K, a recovery from the recent lows, reflecting renewed network engagement. Based on Fibonacci levels, a breakout could drive the price to $1.46 or $1.67. As Bitcoin price nears the $108,000 mark, the altcoin segment is witnessing a surge in buying pressure. The total crypto market cap, excluding Bitcoin and Ethereum…

Bitrue Unveils Bitcoin Dual Rewards Program with Babylon

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Bitcoin staking is now made possible with Bitrue and Babylon. Both firms bring their expertise to offer users the best value with the staking. The Bitcoin staking campaign will commence on December 9. Bitrue, one of the oldest and most diversified trading platforms has entered into a partnership designed for its crypto users. According to an X , Bitrue and Babylon Labs are collaborating to provide a Bitcoin staking opportunity for users to earn on-chain rewards. Unique Staking Opportunity for Bitcoin Holders According to the post, the nine-day staking opportunity…

Coinbase Investigation Reveal Big Crypto Chokepoint by FDIC

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Ongoing Coinbase investigation showed intense scrutiny by FDIC on banks. The government agency subtly restricted crypto firm’s access to banking services. Most information is redacted in the released documents, but Coinbase is pushing to unseal these details. The cryptocurrency community is back to discussing after (NASDAQ: COIN) obtained hard evidence against United States regulators. The Federal Deposit Insurance Corp. (FDIC) sent to several banks in 2022, requesting that they withhold their services from crypto firms. Coinbase Obtain Redacted Documents From FDIC Coinbase discovered this evidence through research firm History Associates…

Bybit Opens Doors to Mainland Chinese Users amid Regulatory Complexities

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Mainland Chinese users can trade on Bybit via VPNs, though yuan-based transactions remain off-limits. Bybit’s move comes amid rising crypto demand in China and an assessment of manageable regulatory risks. The exchange plans to reapply for a Hong Kong licence in 2025 with a new compliance strategy. Dubai-based cryptocurrency exchange Bybit has confirmed that mainland Chinese users can trade on its platform using virtual private networks (VPNs), though it will not facilitate transactions in the Chinese yuan. This cautious approach aligns with Bybit’s efforts to navigate China’s stringent digital asset…

BlackRock Ethereum ETF Surges Past $3B as Analysts Eye ETH Rally to $15,000

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BlackRock’s ETHA has garnered $1.3 billion in inflows over ten trading days, bringing cumulative inflows to $3.19 billion. Ethereum ETFs have collectively attracted $2.24 billion in inflows since their launch in July. Ether’s price almost touched $4,000 before retreating to $3,900 on Friday. , known for dominating the spot Bitcoin ETF market, is consistently drawing investor interest in the spot Ethereum ETF market as well. Since November 29, the BlackRock iShares Ethereum ETF (ETHA) has recorded net inflows surpassing $1.3 billion in just ten trading days. Cumulatively, the fund has…

Australia Tightens Crypto Rules to Combat Financial Crime

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Australia proposes stricter crypto rules to curb financial crime. The new framework balances oversight with flexibility for businesses. Australia has introduced a new set of rules that it hopes will help put up a better fight against financial crimes that have long terrorized the crypto sector. The new proposals were floated by the Australian Transaction Reports and Analysis Center (AUSTRAC) as part of wider efforts by the country to update its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Act. In line with this ambition, the AML/CTF Act was duly amended and…

Blockchain Milestone: Private Credit Tokenization Hits $650M Monthly

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Blockchain now powers 15% of HELOC transactions, managing $650M monthly, streamlining processes, and reducing inefficiencies. Provenance Blockchain Labs leads tokenized finance, with CEO Moro forecasting shifts in mortgages amid regulatory hurdles. Société Générale’s MiCA-compliant stablecoin and Citi Digital Cash reflect blockchain’s scaling and compliance-focused innovations. The financial sector is witnessing a groundbreaking shift as technology propels the tokenization of private credit to an entirely new level. At the forefront of this movement is Provenance Blockchain Labs, whose innovative approach is setting benchmarks in the industry. Under the leadership of CEO…

Chiliz CEO Expresses Possibility of Acquiring Nike NFT RTFKT, CHZ Surges 9%

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RTFKT is winding down operations in January 2025. Chiliz might bid on RTFKT’s assets, said CEO Alexandre Dreyfus. CHZ token skyrocketed by more than 9% post Dreyfus’ statement. Alexandre Dreyfus, the chief executive of Chiliz , the digital currency operating the sports entertainment platform Socios, has expressed interest in acquiring Nike’s non-fungible token () platform RTFKT after the NFT project announced that it is winding down operations in January 2025. In a on social media platform X (formerly Twitter), Dreyfus hinted at the possibility of the Chiliz ecosystem bidding on…