12 April, 2024

Live Wire

Bybit Announces Google Pay Integration for Buying Shibs Inu

Bybit, a leading crypto exchange, has taken a significant step forward by integrating Google Pay for its global clientele. This move, highlighted in a recent press release, marks a concerted effort to streamline the purchase process for popular assets like Shiba Inu and others. With a focus on enhancing accessibility, users can now seamlessly acquire SHIB and various cryptocurrencies with just a single click, bypassing the complexities often associated with traditional purchasing methods. Notably, this integration extends to 35 different currencies, further broadening the platform’s reach and simplifying the onboarding process for newcomers to the crypto space.

Stepn Rewards Move-To-Earn Users with FSL Points

Stepn, a pioneering Solana-based platform, is leading the charge in merging physical activity with crypto rewards. With the allocation of 100 million FSL points, users are empowered to trade these tokens for GMT tokens on the Stepn market, incentivizing outdoor activities like walking, jogging, or running. Utilizing innovative NFT-based virtual sneakers, Stepn revolutionizes fitness engagement in the Web3 era. Excitingly, a forthcoming collaboration with a globally renowned sports brand adds another layer of anticipation, hinting at groundbreaking developments ahead. Stepn’s fusion of technology, fitness, and crypto underscores its commitment to reshaping the landscape of health and wellness.

Binance Futures Launches USDC Marginalized Perpetual Contracts for LTC and NEAR

Binance Futures is again expanding its trading choices for users by introducing two new perpetual contracts for LTC and NEAR which would be USDC marginalized. The LTCUSDC perpetual contract will be available for trading from 2024-04-11 07:00 (UTC) with up to 75x leverage. The other pair NEARUSDC will be made available on the platform from 2024-04-11 07:15 (UTC) with up to 50x leverage.

China Southern Fund Leads with Bitcoin ETF Launch in Hong Kong

China Southern Fund, boasting $284 billion in assets, is pioneering a watershed moment in the Chinese financial realm by seeking approval for a spot Bitcoin ETF in Hong Kong. This move aligns with a broader trend among Chinese financial entities, including Harvest Fund, to delve into Bitcoin ETFs via their Hong Kong subsidiaries, despite China’s cryptocurrency ban. Anticipated to debut as early as May, these ETFs position Hong Kong as a conduit for Chinese capital to enter the Bitcoin market. The initiative underscores a burgeoning intrigue in Bitcoin as an investment vehicle, with Chinese equity firms leveraging their Hong Kong branches for innovative ventures.

Spot Bitcoin ETFs Surpass $1.6B in Total Net Inflow

On April 5, Spot Bitcoin ETFs registered a net inflow of $203 million, with BlackRock’s IBIT leading the pack. IBIT marked a net inflow of $308 million, reaching a total net inflow of an astounding $14.7 billion. Meanwhile, the Bitcoin ETF market has seen a total net inflow of more than $12.6 billion.

$1 billion USDT Issued at Tether Treasury: Report

Tether Treasury issued 1 billion USDT, with another billion to come. The CEO clarifies that the authorization was granted but not given; it is intended for future usage. $2 billion was invested into the cryptocurrency market in 24 hours, under stablecoin scrutiny.

VanEck Predicts Ethereum Layer 2s Could Exceed $1 Trillion Market Cap

According to Van Eck’s estimates, Ethereum will take 60% of the public blockchain market share, with significant projects projected to emerge over the next 18 months. The valuations of the top seven Ethereum layer 2 tokens might surpass $100 billion. Leading players in the general-purpose layer 2 industry are anticipated to shape the landscape.

Crypto Hacking Reached ‘Danger Levels’ – Certik Co-Founder

Ronghui Gu, the co-founder of blockchain security firm CertiK, reported a significant increase in losses due to private key compromises and phishing attacks in Q1 2024 compared to the first quarter of 2023. The company’s quarterly “Hack3d” security report revealed that losses from these attacks totaled $239 million, up 1,171% from the same period in 2023.

Wormhole’s Airdrop W, Makes Ripples in the Crypto Markets

Wormhole, a cross-chain bridge, has launched an airdrop that will reward early users with 617 million W tokens. The cryptocurrency W reached a new low of $1.25 before rising to $1.66. The current circulation of W tokens is 1.8 billion, with a total supply of 10 billion. In the last 24 hours, W’s global trading volume reached $928.64 million, with Binance leading the way.

Ethena Becomes the Most Successful Revenue-Generating Cryptocurrency Project

Delphi Labs CEO José Maria Macedo announced that Ethena Labs has become the highest-earning decentralized application (DApp) in cryptocurrency, with a yearly return on equity of 67% on USDe. Over 118,000 clients still benefit from the company’s USDe synthetic dollar, which yields 35.4% APY.

Crypto Market Maker GSR Receives License From Singapore

GSR, which was founded in 2013 in New Jersey, provides services such as market making, derivatives, and over-the-counter trading. GSR Markets Pte. Ltd., the Singaporean branch of the international cryptocurrency trading company and liquidity provider GSR, has been granted In-Principle Approval by the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license last year. Recently the authority has issued a license to the crypto market maker which is a rare step as the city-state recently widened its regulatory ambit for crypto. Market makers usually operate without any regulatory approval across the globe.

Bitcoin Retreats to $66K Against Growing Federal Yields, the Investor Eyes Shifted

Federal Reserve rate reduction and changes in Treasury rates don’t affect the strength of bitcoin. Analysts surmise that investors’ reluctance to raise interest rates is the cause of the price fall. $245 million worth of long holdings, comprising $60 million, were disposed of. Investors keep a careful eye on betting markets and market indices.
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