Anonymous Whales Move Nearly 50 Billion Shiba Inu Meme Coins in Three Hours, SHIB Price Shows Small Decline
Anonymous whales have moved almost 50 billion Shiba Inu meme coins in the past three hours, according to data from Etherscan. The transactions were made between various wallets, including Binance and KuCoin exchanges.
Kin Foundation Burns 71% of Total KIN Supply in Move Towards Full Decentralization
Kin Foundation, the organization responsible for the Kin protocol, has completed a vote to burn a significant portion of the total KIN supply. The vote was proposed by Ted Livingston, founder of Kik, who suggested fully decentralizing the Kin protocol.
Reddit's NFT Collection Surpasses 14.38 Million Holders on Polygon After Launch of Generation 4
Reddit's NFT collection, spanning Seasons 1 to 4, has surpassed 14.38 million holders on the Polygon blockchain, following the launch of Generation 4. The latest data from Dune Analytics shows significant fluctuations in user engagement, with holders increasing to 7.18 million by February 2021, before experiencing a massive surge in April.
Simplifying Crypto Taxes with Specialized Software
Investors in cryptocurrency may find tax obligations complicated and overwhelming, but specialized crypto tax software can simplify the process. These programs automatically calculate taxable gains, losses, and capital gains taxes from crypto investments, integrating with various exchanges and wallets to generate accurate tax statements and forms, saving time and reducing errors. As cryptocurrencies become more popular, using advanced crypto tax software is crucial for compliance with tax regulations. When selecting a crypto tax software, investors should consider factors such as compatibility, security, pricing, and customer support.
Controversy Surrounds Worldcoin's Discrepancies in User Payouts, with Hong Kong Users Receiving Four Times More than Test Subjects in Other Countries
Worldcoin, the cryptocurrency project founded by ChatGPT creator Sam Altman, is facing controversy over discrepancies in user payouts. A report from the South China Morning Post reveals that Hong Kong users of the iris-scanning crypto project are receiving rewards four times higher than those in other countries where Worldcoin conducted testing. The project uses iris-scanning technology for user registration as a "proof-of-humanity" to validate unique identities.
Investment Scams, Including Cryptocurrencies, Result in Record Losses of $2.57 Billion in 2022, with Fraudsters Using AI to Lure Victims
According to a report by Carlson Law, investment scams, particularly those related to cryptocurrency, resulted in record losses of $2.57 billion out of a total of $3.82 billion in 2022. Fraudsters are using advanced techniques such as AI and voice cloning to deceive victims into investing. California has been the most affected state, with $870 million in losses and an average loss per victim of $176,463.
Messari releases BNB Chain Q2 Report: Daily active Addresses and Transaction volume increase by 25.6% and 24.4%, respectively
Messari, a cryptocurrency research institution, released its Q2 2023 report on BNB Chain. The report highlights include: The daily active addresses and transaction volume on BNB Chain increased by 25.6% and 24.4%, respectively, mainly driven by LayerZero activity.BNB Chain's daily active addresses reached approximately 1.4 million, almost reaching the historical average level of the previous bull market cycle ending in Q4 2021 (about 1.5 million). The average new unique address increased by 91.1% month-on-month, reaching a historical new high after a surge in activity in late April
CoinGecko has added a Bitcoin Ordinals NFT Section
CoinGecko, a cryptocurrency data analysis website, has added a Bitcoin
Ordinals NFT section, allowing users to view the floor price, trading
volume, and market capitalization of the Bitcoin Ordinals NFT series.
Palau to Launch Pilot Project for US Dollar-Backed Stablecoin on XRP Ledger
Palau's government will launch a pilot project for a US dollar-backed stablecoin on July 26, using Ripple's CBDC platform. The Palau Stablecoins (PSCs), nicknamed Kluk, will be issued to government employees in the pilot project after testing with volunteers. Palau already has a digital residency program and issues ID supported by Cryptic Labs, available as a nonfungible token on the Binance BNB blockchain. Pacific island nations have been active in crypto development, with the Republic of the Marshall Islands launching a CBDC and Vanuatu hosting Satoshi Island for the crypto community.
Bitcoin Whales Move Millions in Long-Dormant Wallets
Big investors who have been holding onto Bitcoin for years have started moving their holdings, including wallets that have been dormant for over a decade. In one case, a Bitcoin whale transferred over $37 million worth of BTC to a new address after 11 years of inactivity. These investors, who hoard at least 1,000 BTC, have proven to be more successful than short-term traders due to the cryptocurrency's extreme volatility. It is unclear whether these whales are individuals or companies, but some may be commercial entities buying Bitcoin from individuals.
