![\\\"Shiba](\\\"https://coingape.com/wp-content/uploads/2024/04/Shiba-Inu-Price-Chart-25-04-24.png\\\")
![\\\"LUNC](\\\"https://coingape.com/wp-content/uploads/2023/12/Terra-Luna-Classic-Burn-Can-LUNC-Burn-Revive-Terra-Ecosystem.jpg\\\")
Terra Luna Classic community has approved a proposal to revise the LUNC burn tax. To be more clear, the reward share distribution of the burn tax will be changed instead of the burn tax rate.
\\nMeanwhile, LUNC price loses steam for further recovery as broader crypto market remains under selling pressure ahead of $9.4 billion crypto options expiry.
\\nProposal 12098 “Changing the Reward Share Distribution of the Burn Tax” is passed successfully by the Terra Luna Classic community. This changes the burn tax distribution to the community pool and Oracle pool.
\\nNotably, the proposal doesn’t change the burn tax rate, nor the amount sent to burn. It just changes the burn tax distribution to oracle pool instead of rewards. The proposal has received 70% votes in favor with 37 validators in support of the proposal.
\\n“The technical details of this can be a bit complex. I will try to simplify some of it at the cost of a little less precision in definitions and numbers. This draft has been up a few weeks ago with more details on block proposer rewards. I removed those parts as proposer rewards will be removed with SDK 0.47, said developer StrathCole.
\\nTerra Classic has a burn tax set to 0.5%. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to rewards. After the proposal, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool.
\\nInstead of immediate block rewards, the portion from the burn tax would go into long-term staking rewards (Oracle). However, it would decrease the APR by about ~0.5%, which depends on on-chain volumes.
\\nAlso Read: Binance Founder Changpeng “CZ” Zhao Requests Probation, Gets Unprecedented Support
\\nLUNC price fell 8% in the last 24 hours amid market-wide selloff, with the price currently trading at $0.0001027. The 24-hour low and high are $0.0001014 and $0.0001115, respectively. Moreover, trading volume decreased slightly in the last 24 hours, indicating a decline in interest among traders.
\\nMeanwhile, USTC price also fell over 8%, with the price changing hands at $0.01842. The price climbed 20% higher last week. The 24-hour low and high are $0.01814 and $0.01997, respectively.
\\nAlso Read: Why Crypto Prices Are Taking A Dip Today?
\\nThe post Just-In: Terra Luna Classic Community Revises LUNC Burn Tax appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:51:52.505Z\",\n \"creator\": \"Varinder Singh\",\n \"description\": \"Terra Luna Classic community has approved a proposal to revise the LUNC burn tax. To be more clear, the reward share distribution of the burn tax will be changed instead of the burn tax rate. Meanwhile, LUNC price loses steam for further recovery as broader crypto market remains under selling pressure ahead of $9.4 billion
\\nThe post Just-In: Terra Luna Classic Community Revises LUNC Burn Tax appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"Investments\",\n \"Products\",\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T13:46:48.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053109743.png\",\n \"title\": \"Just-In: Terra Luna Classic Community Revises LUNC Burn Tax\",\n \"token_symbols\": [\n \"LUNC\",\n \"JST\",\n \"LUNA\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/bitcoin-breaks-lower-us-gdp-slows-1-6-hints-hot-pce-inflation/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Bitcoin (BTC) Price\",\n \"Federal Reserve\",\n \"gdp growth\",\n \"US economy\"\n ],\n \"content\": \"![\\\"Bitcoin](\\\"https://coingape.com/wp-content/uploads/2024/03/Crypto-Market-Cap-Levels-1536x864-2.jpg\\\")
Bitcoin and the broader financial markets faced a downturn as the United States’ Gross Domestic Product (GDP) revealed sluggish growth in the first quarter of 2024, casting a shadow on investor confidence. With the first quarter GDP figures falling short of expectations at a 1.6% annualized pace, concerns about inflationary pressures loom large, amplifying market volatility.
\\nThe latest data from the Bureau of Economic Analysis paints a somber picture of the US economy, with first-quarter U.S. GDP growth clocking in at a modest 1.6%, well below the anticipated 2.5%. A commentary by The Kobeissi Letter underscored the severity of the situation, highlighting a worrying juxtaposition of weakening economic growth and surging inflation.
\\nMeanwhile, the Core PCE Price Index witnessed a substantial jump from 2.0% to 3.7%, far surpassing estimates, while the PCE inflation data surged from 1.8% to 3.4%, stoking fears of an impending hawkish stance from the Federal Reserve.
\\nAmid that, investor sentiment took a hit as concerns over escalating inflation and lackluster economic performance weighed heavily on cryptocurrency prices. Despite ongoing market sell-offs preceding the GDP release, the dismal data exacerbated the downward trajectory.
\\nIn addition, with expectations of a delayed rate cut by the Fed, recent gains in Bitcoin and other cryptocurrencies were swiftly wiped out, signaling a challenging road ahead for digital asset markets.
\\nAlso Read: Bitcoin Bulls Scale Back Leveraged Bets, Post-Halving Demand Cools
\\n\\nAlso Read: How Is Bitcoin Halving Adjusting The Market?
\\nThe post Bitcoin Breaks Lower As US GDP Slows To 1.6%, Hints At Hot PCE Inflation appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:51:52.519Z\",\n \"creator\": \"Rupam Roy\",\n \"description\": \"Bitcoin and the broader financial markets faced a downturn as the United States’ Gross Domestic Product (GDP) revealed sluggish growth in the first quarter of 2024, casting a shadow on investor confidence. With the first quarter GDP figures falling short of expectations at a 1.6% annualized pace, concerns about inflationary pressures loom large, amplifying market
\\nThe post Bitcoin Breaks Lower As US GDP Slows To 1.6%, Hints At Hot PCE Inflation appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T13:38:37.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053109867.png\",\n \"title\": \"Bitcoin Breaks Lower As US GDP Slows To 1.6%, Hints At Hot PCE Inflation\",\n \"token_symbols\": [\n \"BTC\",\n \"RSV\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/ton-foundation-unveils-massive-airdrop-details/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Altcoin News\",\n \"NFT\",\n \"TON\"\n ],\n \"content\": \"![\\\"TON](\\\"https://coingape.com/wp-content/uploads/2024/04/TONCOIN22.jpg\\\")
In what comes as an attention-grabbing chronicle witnessed within the cryptocurrency landscape, the TON Foundation recently facilitated $600K worth of airdrop for active NFT traders and holders, marking a significant stride within the crypto community with its cryptographic journey. According to a recent post shared by the TON Foundation on X, the crypto firm unveiled a 105,600 TON airdrop for active traders on Getgems, xRare, and Ton NFT Diamonds, NFT marketplaces.
\\nHere’s an in-depth report on the airdrop’s eligibility criteria, snapshot, and key details.
\\nPer the crypto firm’s post on X, the snapshot for the 105,600 TON airdrop was taken on April 23 at 8:00 AM CEST. Notably, active traders on the abovementioned NFT marketplaces between April 11 (2 PM CEST) to April 23 (8 AM CEST) were made eligible for the airdrop. However, NFT collection owners, non-wallet addresses, and Sybil wallet addresses were not facilitated with the airdrop. Besides, all NFT collections on the above marketplaces were whitelisted for the event.
\\nIntriguingly, the TON Foundation ruled out a point system for facilitating airdrop rewards, all dependable on various on-chain metrics for users. Notably, if the number of NFT collections traded is between 2-4, the user is allotted 1 point. Similarly, as the number of collections traded increases, the points increase in hand, underscoring a directly proportional relation between points collected and rewards.
\\nMeanwhile, points were also allotted based on the number of NFT deals performed, NFT trading volume per user, and many other aspects. By accumulating these points, airdrop participants would be eligible to claim rewards in the form of TON, Ton blockchain’s native token.
\\nNotably, users with points between 2-5 will be offered a reward of 40 TON, whereas similar to the points system, the higher points a user has, the more rewards are acquired. This chronicle, coming as an effort to jack up the NFT realm amidst its ongoing sluggish performance, promptly amassed significant attention among crypto market participants.
\\nMeanwhile, amid the remarkable airdrop event, the native token of the Ton blockchain traded in the red.
\\nAlso Read: Worldcoin Seeks OpenAI Partnership Amid Regulatory Probe
\\nAs of writing, the TON token’s price slipped 8.81% in the past 24 hours and is currently trading at $5.22. The remarkable dip in the token primarily aligns with the broader crypto industry’s downtrend today, whereas it contrasts the stride marked with the above-mentioned development.
\\nIt’s worth noting that the TON Foundation is making remarkable advancements as it recently launched Memelandia to drive institutions into meme coins, further revolutionizing its cryptographic venture and fueling optimism among crypto market participants.
\\nAlso Read: XRP To Hit $1.4 In July: Analyst Predicts Despite Crypto Market Dip
\\nThe post TON Foundation Unveils Massive Airdrop: Details appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:36:46.983Z\",\n \"creator\": \"Coingape Staff\",\n \"description\": \"In what comes as an attention-grabbing chronicle witnessed within the cryptocurrency landscape, the TON Foundation recently facilitated $600K worth of airdrop for active NFT traders and holders, marking a significant stride within the crypto community with its cryptographic journey. According to a recent post shared by the TON Foundation on X, the crypto firm unveiled
\\nThe post TON Foundation Unveils Massive Airdrop: Details appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T13:35:36.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053110013.png\",\n \"title\": \"TON Foundation Unveils Massive Airdrop: Details\",\n \"token_symbols\": [\n \"XRP\",\n \"APRIL\",\n \"WLD\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/bitcoin-bulls-scale-back-leveraged-bets-post-halving-demand-cools/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Bitcoin News\",\n \"Bitcoin\",\n \"Bitcoin (BTC) Price\"\n ],\n \"content\": \"![\\\"\\\"](\\\"https://coingape.com/wp-content/uploads/2024/04/Bitcoin-Ether-And-Other-Crypto-Tokens-Could-See-A-Less-Bumpy-Ride-In-2022.jpg\\\")
Bitcoin traders have significantly decreased their bullish bets on the cryptocurrency, evident from the negative Bitcoin funding rate. This negative rate, observed for the first time since October 2023, points towards a notable decline in demand for Bitcoin futures contracts.
\\nSeveral factors contribute to this moderation in Bitcoin demand, including diminishing net inflows to US spot-Bitcoin ETFs and the limited impact of the recent halving event on Bitcoin’s price. Additionally, geopolitical tensions in the Middle East and potential delays in Federal Reserve rate cuts have further subdued buyers’ enthusiasm for the cryptocurrency.
\\nThe decline in Bitcoin funding rates, which peaked in March but now sit below zero, signifies a notable decrease in traders’ inclination to open long positions. Analysts foresee that this streak of neutral-to-below-neutral funding rates may lead to further price consolidation within the Bitcoin market.
\\nMoreover, the substantial decrease in daily inflows into US spot-Bitcoin ETFs compared to March indicates a diminishing interest in crypto-related exposure among US institutions. This sentiment is echoed by the decline in open interest at CME Group’s Bitcoin futures market, highlighting wavering interest in cryptocurrency exposure and hedging among institutional investors in the United States.
\\nAlso Read: Dogwifhat Trading Goes Live On Coinbase, WIF Price Rally Inbound
\\nDespite the recent challenges, investors maintain a bullish outlook on Bitcoin’s future, particularly following the recent halving event, with expectations of a breakout above $70,000. However, uncertainty and impatience persist among investors due to the ongoing struggle to discern a clear direction for Bitcoin’s price.
\\nThe resistance observed at $67,000 suggests that Bitcoin may need to surpass additional liquidity levels to validate an uptick beyond $70,000. Wednesday’s drop in Bitcoin price to $64,295 could potentially instigate a “buy the dip” campaign among traders, although the possibility of further decline to $60,000 remains a concern.
\\nAlso Read: BNB Update: Top Reasons Why BNB Might Hit $700 Soon
\\nThe post Bitcoin Bulls Scale Back Leveraged Bets, Post-Halving Demand Cools appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:36:46.983Z\",\n \"creator\": \"Coingape Staff\",\n \"description\": \"Bitcoin traders have significantly decreased their bullish bets on the cryptocurrency, evident from the negative Bitcoin funding rate. This negative rate, observed for the first time since October 2023, points towards a notable decline in demand for Bitcoin futures contracts. Several factors contribute to this moderation in Bitcoin demand, including diminishing net inflows to US
\\nThe post Bitcoin Bulls Scale Back Leveraged Bets, Post-Halving Demand Cools appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"People\",\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T13:27:57.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053110178.png\",\n \"title\": \"Bitcoin Bulls Scale Back Leveraged Bets, Post-Halving Demand Cools\",\n \"token_symbols\": [\n \"BTC\",\n \"RSV\",\n \"RLY\",\n \"SPOT\",\n \"BNB\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/trending/how-is-bitcoin-halving-adjusting-the-market/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\"\n ],\n \"content\": \"![\\\"How](\\\"https://coingape.com/wp-content/uploads/2024/04/Bitcoin-Halving222-1.jpg\\\")
It has been five days since the completion of Bitcoin halving and slicing the Bitcoin mining reward to 3.125. Before Bitcoin halved, the cryptocurrencies faced a severe correction zone where Bitcoin dropped to below $60K. The same happened with Ethereum, as it went down to $2878.
\\nSo, how is the market performing post-halving? Is there any difference between the expectations for this period? Let us discuss all that in this blog.
\\nIn a week, Bitcoin price has surged by 3% and is currently trading at $63,524.58 with a market cap of $1,250,843,024,207. After the Bitcoin halving, the BTC rose to its highest point of $67,215 on the 23rd of April and now seeks to enter a downward trend as the price has dropped 4.31% in the last 24 hours. In contrast to the losses, the Bitcoin trading volume has surged 36%, bringing the value to $32,662,374,482.
\\nAs per Alex Kuptsikevich, a well-known analyst, technical indicators are indicating a bearish trend. He said,
\\n\\nBitcoin retreated significantly from its 50-day moving average, which we see as an important manifestation of bearish strength. Most crypto traders took this signal. Bears are plotting a new attack.
The impact of Bitcoin’s fall is clearly visible on the crypto market as the global market cap has declined to $2.34 Trillion with a drop of 4.69%. Bitcoin has 53.5% dominance in the crypto market and is all to accuse for this market fall. It eventually shifted the fear and greed index to a neutral zone from greed.
\\nEven the crypto market heatmap is stained in red, where almost every other cryptocurrency has been in loss over the last 24 hours. The crypto market did make a recovery immediately after halving, but the recovery was short-lived. Presently, Ethereum is at $3114 after a 4.96% drop, Solana at $144.81 after a 9.08% drop, XRP at $0.5185 after 4.76%, etc.
\\n\\nThe past Bitcoin halving events had already warned the investors of volatility issues leading to short-term price fluctuations. Not only the miners but also the investors are worried about token supply in the future.
\\nBitcoin halving is not all to blame for the market down as the geopolitical tension is continuously increasing in the Middle East, which is impacting all the trades. Also, the imprisonment of Changpeng Zhao, along with the arrest of Samourai Wallet founders, is disturbing the peace of the market.
\\nAccording to the Rekt Capital data, 518-546 days is the minimum duration for a bull run to arrive. It is the period the previous Bitcoin halving took to enter the bull market.
\\nIf history repeats itself, the bull run will arrive by mid-September to October 2025. But looking at the price chart of Bitcoin, Bitcoin surged to an all-time high earlier than the previous cycles, and based on that, the bull run might happen even in 266-315 days, which is between the periods of December 2024 and February 2025.
\\nUp to now, the crypto market has performed according to the set expectations after analyzing the previous Bitcoin halving event. The crypto market faced a fall today, which might continue for a few days before the price recovers to gain stability for the next few weeks. It has to see how the crypto market will sustain itself until the bull market.
\\nRead More Crypto Assets Mid-Week: Can Bulls Ignite Uptick?
\\nThe post How Is Bitcoin Halving Adjusting The Market? appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:21:46.524Z\",\n \"creator\": \"Pooja Khardia\",\n \"description\": \"It has been five days since the completion of Bitcoin halving and slicing the Bitcoin mining reward to 3.125. Before Bitcoin halved, the cryptocurrencies faced a severe correction zone where Bitcoin dropped to below $60K. The same happened with Ethereum, as it went down to $2878. So, how is the market performing post-halving? Is there
\\nThe post How Is Bitcoin Halving Adjusting The Market? appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"People\",\n \"Products\",\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T13:17:44.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053110302.png\",\n \"title\": \"How Is Bitcoin Halving Adjusting The Market?\",\n \"token_symbols\": [\n \"BTC\",\n \"XRP\",\n \"ETH\",\n \"SOL\",\n \"APRIL\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/tether-ceo-teases-beta-launch-of-super-customizable-tokenization-platform/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Stablecoin News\",\n \"stablecoin\",\n \"stablecoins\",\n \"Tether USDT\",\n \"tokenization\"\n ],\n \"content\": \"![\\\"Tether](\\\"https://coingape.com/wp-content/uploads/2024/02/Tether-casinos.jpg\\\")
Paulo Ardoino, CEO of Tether, issuer of USDT stablecoin, recently took to social media to unveil impeccable details about the forthcoming digital asset tokenization platform. In addition, Ardoino teased the beta launch of the platform, which can be expected anytime soon.
\\nIn a post on X, Ardoino expressed his excitement, stating, “Can’t wait to launch the beta.” This announcement comes hot on the heels of Ardoino’s earlier revelation earlier this month where he described the platform as a “masterpiece” and disclosed its remarkable features.
\\nAccording to the Tether CEO’s statements, the tokenization platform promises to revolutionize the landscape of digital asset management. Moreover, it aims to offering a seamless and secure user experience for both issuers and investors. Furthermore, Ardoino commended his team’s efforts.
\\nHe highlighted the platform’s intuitive design and robust functionalities. This includies multisig asset management, customer data management (KYC/AML), issuance, and redemption flows. Moreover, the Tether CEO emphasized that all these components are “super intuitive,” reflecting the team’s dedication to ensuring a smooth user experience.
\\nFurthermore, Ardoino provided insights into the platform’s capabilities. He affirmed that Tether’s tokenization avenue will be fully non-custodial, multi-chain, and support various asset types. In addition, he described it as “super customizable,” allowing users to tokenize a wide array of assets.
\\nThe assets would range from traditional securities like bonds and stocks to more unconventional items such as coffee shop reward points. Ardoino also hinted at the platform’s versatility, revealing that it will serve as a whitelabel of Tether’s technology, enabling users to tokenize assets valued at over $110 billion, denominated in USDT.
\\nAlso Read: Top Democrat Predicts Imminent Deal On Stablecoin Regulation
\\nS&P Global Ratings recently highlighted the potential for increased participation of traditional banks in the stablecoin market due to enhanced regulatory clarity in the United States. This clarity, according to their report, may also lead to a reduction in the dominance of Tether’s USDT.
\\nLast week, Senators Cynthia Lummis and Kirsten Gillibrand introduced a stablecoin bill. This bill at establishing clear operational guidelines for stablecoins within the country’s regulatory framework.
\\nWhile the U.S. dollar remains the preferred peg for stablecoins, many issuers currently operate without being subject to specific U.S. regulations. However, the introduction of the Lummis-Gillibrand Payment Stablecoin Act could bring about significant changes in this regard.
\\nThe proposed regulations could potentially provide banks with a competitive edge by imposing limitations on non-banking institutions. It would restrict their maximum issuance to $10 billion.
\\nIf the stablecoin bill receives approval, it is anticipated to accelerate institutional blockchain innovation. The impact would particularly be seen in areas such as tokenization and digital bond issuance involving on-chain payments. This, in turn, would create new avenues for banks as stablecoin issuers and potentially diminish Tether’s dominance within the global stablecoin market.
\\nCurrently, Tether’s USDT holds a substantial market capitalization of $110 billion, securing its position as the third-largest cryptocurrency. Meanwhile, Circle’s USDC trails behind with $34 billion, both maintaining a 1:1 peg to the U.S. dollar.
\\nAlso Read: Just In: BRICS Countries Mulls Stablecoin For Trade Settlement
\\nThe post Tether CEO Teases Beta Launch Of “Super Customizable” Tokenization Platform appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:21:46.524Z\",\n \"creator\": \"Coingape Staff\",\n \"description\": \"Paulo Ardoino, CEO of Tether, issuer of USDT stablecoin, recently took to social media to unveil impeccable details about the forthcoming digital asset tokenization platform. In addition, Ardoino teased the beta launch of the platform, which can be expected anytime soon. Tether CEO Spotlights Development Toward Tokenization Platform In a post on X, Ardoino expressed
\\nThe post Tether CEO Teases Beta Launch Of “Super Customizable” Tokenization Platform appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"People\",\n \"Policy\",\n \"Products\"\n ],\n \"published_at\": \"2024-04-25T13:12:54.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053110487.png\",\n \"title\": \"Tether CEO Teases Beta Launch Of “Super Customizable” Tokenization Platform\",\n \"token_symbols\": [\n \"USDT\",\n \"USDC\",\n \"JST\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/shib-price-shiba-inu-burn-rate-jumps-2000-igniting-recovery-hope/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Altcoin News\",\n \"shib burn\",\n \"SHIB Price\",\n \"shiba inu burn\",\n \"Shiba Inu(SHIB)\"\n ],\n \"content\": \"![\\\"Shiba](\\\"https://coingape.com/wp-content/uploads/2023/06/Everything-You-Need-to-Know-About-Shiba-Inu-Burn-Portal.jpg\\\")
The Shiba Inu crypto has captured the market participants’ attention with a surge in its burn rate, despite a recent dip of approximately 8% in the SHIB price. Notably, this significant spike in the Shiba Inu burn rate, reflecting a surge of over 2000%, has reignited optimism among investors, hinting at potential recovery prospects for SHIB. In addition, the price performance over the last hour also reflected a rebound in the SHIB price.
\\nThe Shiba Inu burn rate, tracked by Shibburn, has skyrocketed by over 2000%, marking a significant uptick in investor confidence. With over 40.06 million SHIB burned in the last 24 hours alone, this surge has been fueled by two massive burns, totaling 20 million and 16.86 million respectively.
\\nHowever, despite the ongoing SHIB burning frenzy which has seen over 410.72 trillion SHIB destroyed from its initial supply, the circulating supply still remains substantial at 582.87 trillion.
\\nMeanwhile, the burning mechanism within the Shiba Inu ecosystem is strategically designed to reduce token supply, thereby potentially increasing its value within the crypto community, let alone the meme coin sector. By actively participating in token burning, the SHIB community aims to create scarcity, a move that could drive long-term value appreciation.
\\nNotably, this proactive approach sets Shiba Inu apart within the cryptocurrency landscape, contrasting with traditional inflationary models.
\\nAlso Read: Dogwifhat Trading Goes Live On Coinbase, WIF Price Rally Inbound
\\nAdding to the momentum, Shiba Inu’s recent listing on Robinhood for New York users has further bolstered its visibility and accessibility. With Robinhood’s announcement, users in New York can seamlessly trade SHIB alongside other cryptocurrencies like AVAX and COMP. Notably, this announcement has fuelled the investors’ confidence, signaling a potential recovery for SHIB’s price ahead.
\\nIn addition, Shiba Inu’s recent fundraising of $12 million through TREAT utility and governance tokens demonstrates the project’s commitment to expanding its utility and use cases. Besides, this includes the development of a new privacy-focused Layer 3 blockchain and other initiatives aimed at enhancing the Shiba Inu ecosystem.
\\nHowever, while the past 24 hours have seen a remarkable spike in burn rate, it’s essential to note a slight decrease in the weekly burn rate by 37.31%. Despite this, the recent surge in burn rate, coupled with significant developments and listings, paints a promising picture for Shiba Inu’s future trajectory.
\\nAs of writing, the Shiba Inu price was down 7.87% and traded at $0.0000251 during writing, while its trading volume rose 11.02% to $868.08 million. Despite the slump, the meme coin’s price has added about 1.02% over the last hour.
\\nAlso Read: US SEC To Deny Spot Ethereum ETFs – Reuters
\\nThe post SHIB Price: Shiba Inu Burn Rate Jumps 2000% Igniting Recovery Hope appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:06:57.907Z\",\n \"creator\": \"Rupam Roy\",\n \"description\": \"The Shiba Inu crypto has captured the market participants’ attention with a surge in its burn rate, despite a recent dip of approximately 8% in the SHIB price. Notably, this significant spike in the Shiba Inu burn rate, reflecting a surge of over 2000%, has reignited optimism among investors, hinting at potential recovery prospects for
\\nThe post SHIB Price: Shiba Inu Burn Rate Jumps 2000% Igniting Recovery Hope appeared first on CoinGape.
\",\n \"featured\": true,\n \"is_klarda\": false,\n \"is_top\": false,\n \"klarda_categories\": [\n \"People\",\n \"Policy\",\n \"Trading Idea\"\n ],\n \"published_at\": \"2024-04-25T12:57:02.000Z\",\n \"source\": \"CoinGape\",\n \"thumbnail\": \"https://d37pr5wbjsk01d.cloudfront.net/1714053110596.png\",\n \"title\": \"SHIB Price: Shiba Inu Burn Rate Jumps 2000% Igniting Recovery Hope\",\n \"token_symbols\": [\n \"ETH\",\n \"RLY\",\n \"SPOT\"\n ],\n \"updated_at\": \"2024-04-25T13:45:00.151Z\"\n },\n {\n \"link\": \"https://coingape.com/trending/solana-slides-9-amid-market-downturn-heres-why/\",\n \"categories\": [\n \"24/7 Cryptocurrency News\",\n \"Bitcoin\",\n \"Crypto market crash\",\n \"Solana (SOL)\"\n ],\n \"content\": \"![\\\"\\\"](\\\"https://coingape.com/wp-content/uploads/2024/04/solana22-1-2-1.jpg\\\")
Solana plunged 9% in the last 24 hours following a wider crypto market downturn. This crypto market crash comes after most assets notched mid-week gains yesterday, an attempt to consolidate the short-term Bitcoin halving momentum.
\\nSolana, an institutional investor favorite token due to inflows is down following a market trend despite several positive signals for the asset. The sharp daily outflows bring down weekly highs to 6.1%. Before this, Solana outpaced other crypto assets after the massive liquidation recorded two weeks ago.
\\n\\nSOL’s monthly position is down 25.96% although bulls eye long-term positions should macroeconomic factors flip and sentiment change. At press time, the price of SOL stands at $144.54 with a market capitalization of $64.6 billion.
\\nA key indicator of Solana’s bullish outlook according to most commentators is the 30% increase in day trading volumes as a result of heightened on-chain activities.
\\nSolana is down for several reasons ranging from macroeconomic factors to the general market performance. In the last 24 hours, the crypto market plummeted 4.84% sparked by a fall in top assets.
\\nMacro factors like US President Joe Biden’s proposed 44.6% capital gain tax have impacted investor sentiment today. Other persisting concerns like interest rate cuts and consumer figures have triggered traders’ direction.
\\nReduced inflows to spot Bitcoin ETF have contributed to the crypto market downturn in the last 24 hours l. Last week, crypto institutional products recorded outflows showing signs of slow growth. The figures meant products saw outflows for the second consecutive week.
\\nBitcoin (BTC) is down 4% today while Ethereum (ETH) fell 4.71% in the same period. This drop can be seen in most assets and memecoins wiping out previous gains.
\\nRipple (XRP), Cardano (ADA), and Avalanche (AVAX) posted 4.4%, 5.59%, and 10.32% in the last 24 hours while Toncoin (TON) and Chainlink saw a 9.14% and 6.06% decline today.
\\nThe memecoin ecosystem also contributed to the fall of the crypto market cap with tokens posting slight losses.
\\nAlso Read: BNB Update: Top Reasons Why BNB Might Hit $700 Soon
\\nThe post Solana Slides 9% Amid Market Downturn: Here’s Why appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T13:06:57.908Z\",\n \"creator\": \"David Pokima\",\n \"description\": \"Solana plunged 9% in the last 24 hours following a wider crypto market downturn. This crypto market crash comes after most assets notched mid-week gains yesterday, an attempt to consolidate the short-term Bitcoin halving momentum. Solana, an institutional investor favorite token due to inflows is down following a market trend despite several positive signals for
\\nThe post Solana Slides 9% Amid Market Downturn: Here’s Why appeared first on CoinGape.
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Worldcoin, a pioneering project aiming to revolutionize digital identity and cryptocurrency through iris scanning technology, is actively seeking partnerships with major players in the tech industry, including the renowned OpenAI. Despite encountering escalating regulatory scrutiny and concerns over data privacy, Worldcoin remains resolute in its mission to forge strategic alliances as a means to broaden its user base and solidify its position in the market.
\\nLed by Tools for Humanity, the company behind Worldcoin, the project has weathered regulatory probes and bans in various jurisdictions, spanning Germany, Argentina, Kenya, Spain, and Portugal. These challenges underscore the complex landscape Worldcoin operates in, where regulatory compliance and privacy considerations intersect with technological innovation.
\\nFurthermore, the project’s token, WLD, is presently inaccessible to US market participants due to regulatory constraints, adding another layer of complexity to its global expansion efforts. Nevertheless, Worldcoin is actively preparing to launch its Layer-2 blockchain, known as World Chain, in a bid to bolster efficiency and scalability as it onboards new users and navigates regulatory complexities.
\\nThe recent revelation that Worldcoin is actively seeking partnerships with major tech firms, including OpenAI, has sparked speculation and raised pertinent questions about the implications of such collaborations. While specifics regarding the nature and scope of these partnerships remain undisclosed, Bloomberg’s initial report has ignited discussions within the tech community.
\\nOf particular concern are the potential ramifications of OpenAI’s involvement with Worldcoin, especially in light of the project’s regulatory challenges and controversies surrounding its iris scanning technology. Questions abound regarding how such partnerships align with OpenAI’s mission and values, and whether they could potentially impact the organization’s reputation and ethical standing within the industry.
\\nAlso Read: XRP Price: Whales Shift 150M Coins As Price Dips To $0.52, What’s Next?
\\nDespite facing regulatory headwinds and navigating a challenging operating environment, Worldcoin’s token, WLD, continues to demonstrate resilience and maintain its market value. Currently trading at $4.8194 with a robust 24-hour trading volume of $259,818,553, Worldcoin price remains a focal point for investors and enthusiasts alike.
\\nThe sustained trading activity surrounding WLD underscores investor confidence in Worldcoin’s long-term prospects, despite regulatory hurdles and market volatility. Moreover, the imminent launch of World Chain, the project’s Layer-2 blockchain, signals Worldcoin’s commitment to enhancing its infrastructure and scalability to meet the demands of a growing user base.
\\nAs Worldcoin continues to navigate the complex regulatory landscape and expand its global footprint, the performance of its token remains a key metric for assessing the project’s progress and market sentiment.
\\nAlso Read: CryptoQuant CEO Slams DoJ For Charges Against Samourai Wallet Founders
\\nThe post Worldcoin Seeks OpenAI Partnership Amid Regulatory Probe appeared first on CoinGape.
\",\n \"created_at\": \"2024-04-25T12:51:41.006Z\",\n \"creator\": \"Coingape Staff\",\n \"description\": \"Worldcoin, a pioneering project aiming to revolutionize digital identity and cryptocurrency through iris scanning technology, is actively seeking partnerships with major players in the tech industry, including the renowned OpenAI. Despite encountering escalating regulatory scrutiny and concerns over data privacy, Worldcoin remains resolute in its mission to forge strategic alliances as a means to broaden
\\nThe post Worldcoin Seeks OpenAI Partnership Amid Regulatory Probe appeared first on CoinGape.
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The crypto market slips lower in the last 24 hours after failing to maintain the upside momentum post-Bitcoin halving. The global crypto market cap tumbled over 4% to $2.36 trillion from $2.47 trillion, which means over $110 billion in market value was lost in the last 24 hours. Panic selling could cloud the market if liquidation happened due to high leverage.
\\nBitcoin price plunged below $64,000 amid high volatility and rising uncertainty, with BTC hitting a low of $63,589. Despite this, traders are bullish on the crypto market this cycle because of bull market and anticipated post-Bitcoin halving rally. However, certain factors are causing them to become cautious in the short term.
\\nSecond-largest crypto Ethereum price also fell over 3% to $3,100, with other altcoins including Solana, XRP, Cardano, Dogecoin, Toncoin, and Shiba Inu tumbling 5-10% in the last 24 hours.
\\n\\nThe Fear & Greed Index indicates an uptick in sentiment, with an increase in value from 57 to 72 within this week. The market participants are waiting for some headwinds to disappear before taking new positions and $9.4 billion monthly crypto options expiry is the key headwind.
\\nOver 96k Bitcoin options of $6.3 billion in notional value are set to expire on Deribit on Friday. The put-call ratio is 0.68, indicating a rise in put options recently as monthly expiry approaches. The max pain point is $61,000, below the current price. The market can expect huge volatility with a pullback in price expected on the expiry day, but derivatives traders remain careful of maintaining the position as funding rates are negative.
\\n\\nMoreover, 977k Ethereum options of notional value $3.1 billion are set to expire, with a put-call ratio of 0.49. The max pain point is $3,100, with the ETH price currently trading above the max pain point at also higher than the current price of $3,252.
\\nThe trades in the last 24 hours indicate an increase in put open interest with a put/call ratio of 0.94. The price could witness a decline to max paint point and begins a rally after the expiry.
\\n\\nThe week is seen as macro heavy because of multiple economic events including GDP, PCE inflation, initial jobless claims, and others. The Bureau of Economic Analysis estimates robust GDP growth in the U.S. despite a slowdown for the second consecutive quarter from 3.4% to 2.5%.
\\nHowever, the key figures on watch is PCE inflation on Friday as global investors await the U.S. Federal Reserve preferred gauge to show some signs of falling inflation after CPI and PPI inflation data came in hotter. As per the economists, annual PCE inflation to come in hotter at 2.6%, 0.1% higher than 2.5% previously. Also, Core PCE inflation is expected to come in at 2.6%, down from 2.8% last month.
\\nThe Fed rate cuts are a key factor this year to confirm the bottom in stock and crypto markets, with other central banks likely to follow the U.S. central bank pivot.
\\nAlso Read: Binance Founder Changpeng “CZ” Zhao Requests Probation, Gets Unprecedented Support
\\nHigh-leverage positions in crypto are causing massive liquidations, with potential liquidation expected in the short-term. Bitcoin price risks liquidation and fall to $60,000 in the event of multiple selloffs.
\\nCoinglass data shows more than $220 million were liquidated across the crypto market amid the pullback. Among them, $180 million long positions were liquidated and nearly $40 million short positions were liquidated.
\\nOver 92K traders were liquidated and the largest single liquidation order happened on crypto exchange OKX as someone swapped ETH to USD valued at $5.66 million.
\\nAnalysts and experts predict BTC price to tank below $60,000 and even deeper fall can be expected this time. Ali Martinez forecasts a fall below $61,000 and even to $59,000 if the BTC price dropped below $63K. 10x research Markus Thielen predicted a fall between $52K-55K as structure is weak. However, this could be another buy-the-dip opportunity for investors.
\\n\\n\\n\\nTwo sell signals were presented on the #Bitcoin 12-hour chart: A death cross between the 50 and 100 SMA and a red 9 candlestick from the TD Sequential.
\\nIf $BTC falls below $63,300, brace for possible dives to $61,000 or even $59,000. pic.twitter.com/24A3YtbgTb
\\n— Ali (@ali_charts) April 25, 2024
Also Read: Bitcoin ETF Volume At Four Week High, But Net Inflows Turn Negative Again
\\nThe post Why Crypto Prices Are Taking A Dip Today? appeared first on CoinGape.
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\\nThe post Why Crypto Prices Are Taking A Dip Today? appeared first on CoinGape.
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Terra Luna Classic community has approved a proposal to revise the LUNC burn tax. To be more clear, the reward share distribution of the burn tax will be changed instead of the burn tax rate.
\nMeanwhile, LUNC price loses steam for further recovery as broader crypto market remains under selling pressure ahead of $9.4 billion crypto options expiry.
\nProposal 12098 “Changing the Reward Share Distribution of the Burn Tax” is passed successfully by the Terra Luna Classic community. This changes the burn tax distribution to the community pool and Oracle pool.
\nNotably, the proposal doesn’t change the burn tax rate, nor the amount sent to burn. It just changes the burn tax distribution to oracle pool instead of rewards. The proposal has received 70% votes in favor with 37 validators in support of the proposal.
\n“The technical details of this can be a bit complex. I will try to simplify some of it at the cost of a little less precision in definitions and numbers. This draft has been up a few weeks ago with more details on block proposer rewards. I removed those parts as proposer rewards will be removed with SDK 0.47, said developer StrathCole.
\nTerra Classic has a burn tax set to 0.5%. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to rewards. After the proposal, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool.
\nInstead of immediate block rewards, the portion from the burn tax would go into long-term staking rewards (Oracle). However, it would decrease the APR by about ~0.5%, which depends on on-chain volumes.
\nAlso Read: Binance Founder Changpeng “CZ” Zhao Requests Probation, Gets Unprecedented Support
\nLUNC price fell 8% in the last 24 hours amid market-wide selloff, with the price currently trading at $0.0001027. The 24-hour low and high are $0.0001014 and $0.0001115, respectively. Moreover, trading volume decreased slightly in the last 24 hours, indicating a decline in interest among traders.
\nMeanwhile, USTC price also fell over 8%, with the price changing hands at $0.01842. The price climbed 20% higher last week. The 24-hour low and high are $0.01814 and $0.01997, respectively.
\nAlso Read: Why Crypto Prices Are Taking A Dip Today?
\nThe post Just-In: Terra Luna Classic Community Revises LUNC Burn Tax appeared first on CoinGape.
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\nThe post Just-In: Terra Luna Classic Community Revises LUNC Burn Tax appeared first on CoinGape.
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