This month, the Shiba Inu (SHIB) token burned a total of 4.5 trillion tokens, in an effort to reduce circulation and increase value for its users. This represents more than 92% of the token’s circulating supply.
In this first installment of a series on 12 projects to watch, the Binance Labs team shares their thoughts on the most promising and innovative projects they’ve backed. Get the inside scoop on the projects that hold the potential to shape the future of the blockchain industry.
Crypto investors were rattled today when news of a single wallet transferring $10M worth of cryptocurrency spread across social media. Fears of massive token dumps drove market uncertainty, leaving many wondering what’s to come.
Amidst the increasing interest in blockchain technology, “Backed Now” has announced that it will now start natively issuing tokens on the BNB Smart Chain. This advancement is expected to facilitate new integrations, improved scalability, and increased global accessibility.
The cryptocurrency market experienced a massive dip today, with BAD (Basic Attention Data) plunging 14%. Despite Shibarium, the space’s recalcitrant mogul, holding 1 billion tokens with, as they call it, “diamond hands”, the token was unable to prevent this selloff.
Binance, the world’s largest crypto exchange, has announced the removal of nine tokens from its platform. The tokens, from a variety of projects, will be removed due to their inactivity and low liquidity.
Friend.tech has announced a new name for its token, which has left analysts debating the legal implications of the change. With questions around jurisdiction and compliance, the impact of the rebrand remains uncertain.
Coinbase Ventures has made a strategic investment in the Ethereum-based Rocket Pool tokens, causing their value to surge exponentially. This marks Coinbase Ventures’ first foray into decentralized finance.
Bitstamp USA is phasing out trading access for select digital tokens on August 29. Customers will no longer be able to buy and sell Ripple (XRP), Ethereum Classic (ETC), Augur’s REP, Chainlink (LINK) and Zcash (ZEC).
Despite positive developments in the cryptocurrency industry, DeFi tokens still remain largely depressed. According to the latest report, DeFi tokens continue to struggle to reach pre-crash levels, possibly indicating prolonged recovery times.