On-chain metrics show strong network adoption momentum for BNB Chain. Monthly active addresses reached approximately 55 million in February, representing an 80% year-over-year increase. The surge in activity is occurring even as token prices have cooled, suggesting organic engagement growth independent of price movements.
Archives: Fast News
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South Korea’s National Tax Service initiates development of a crypto investment income tracking system for tax collection by 2027
The South Korean National Tax Service has announced a budget of 3 billion won (approximately 2.02 million USD) for a new system aimed at tracking cryptocurrency investment income. This initiative aims to impose taxes on virtual asset transactions.
System design will commence in April 2024, with trial operations by November 2024 and a full launch expected in late 2027. AI and machine learning will be employed to analyze transaction data, focusing on identifying anomalies.
From January 2025, any virtual asset income exceeding 2.5 million won will incur a comprehensive tax rate of 22%. The Tax Service will collaborate with various agencies to enhance data sharing on suspected violators.
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Ripple sells XRP to fund share buybacks as institutional investors target company equity
Ripple is selling XRP tokens to finance its share buyback program, according to analyst commentary. Institutional investors are increasingly acquiring equity stakes in Ripple itself rather than purchasing XRP directly. The distinction highlights how large investors may view the company’s corporate value separately from the token’s performance. XRP is currently trading at $1.37.
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Perplexity introduces cloud-based AI agent service named Personal Computer
Perplexity has introduced its cloud-based AI agent service, Personal Computer, which utilizes a continuously running Apple Mac mini for seamless integration of local and cloud-based functionalities.
The service emphasizes user control with double authorization for sensitive tasks, records AI operations, and includes an emergency shutdown feature to ensure user safety.
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Asia’s largest bitcoin buyer plans to expand BTC ecosystem development
Asia’s biggest bitcoin buyer is shifting focus beyond accumulation to actively develop the Bitcoin ecosystem. The move signals growing institutional confidence in Bitcoin’s infrastructure potential. Details on specific development initiatives remain limited, but the announcement underscores how major players are now investing in BTC-related projects and technology beyond holding the asset itself.
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Higher March CPI already reflected in BTC price, analysts say
Analysts suggest that market expectations for a higher Consumer Price Index reading in March are already priced into Bitcoin’s current valuation. Bureau of Labor Statistics data shows cost increases across medical care, apparel, household furnishings, airline fares, and education during February. This reflects ongoing inflationary pressures that traders may have already factored into BTC positioning ahead of the official March CPI release.
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Market bulletin #2: crypto cap dips 1% as funding rates turn negative
Global crypto market cap fell to $2.37T, down 1.01% over the past 6 hours, while trading volume slipped 1.38% to $97.30B. Bitcoin dominance held steady near 59%. HYPE led gainers with a 7.90% surge, followed by TAO up 4.74% and JST up 2.86%, while ZEC dropped 3.98%, KITE fell 5.23%, and NIGHT lost 8.21%. Funding rates across major contracts turned negative: BTC at -0.0052%, ETH at -0.0024%, and SOL at -0.0183%, signaling cooling leverage positions. Trending assets include CYS, HYPE, DRV, ACX, PENGU, and RENDER on CoinGecko.
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Across proposes converting ACX token into US C-corp equity or USDC buyout
Across has proposed dissolving its ACX token and decentralized autonomous organization into a traditional US C-corporation, offering token holders a choice between 1:1 equity conversion or a USDC buyout. The proposal has triggered a significant market reaction, with ACX trading volume surging as the token moved sharply higher. This restructuring would represent a transition from a decentralized governance model to a traditional corporate structure.
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Across token surges 80% on governance restructuring announcement
Across’s ACX token jumped 80% following the project’s announcement to disband its DAO structure and shift governance model. The gains significantly outpaced Bitcoin, which remained relatively flat during the period. The governance change marks a notable pivot for the cross-chain bridge protocol.
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As developers move to AI projects, crypto project code commits decline by 75%
Developer activity in crypto projects has fallen notably, with the number of active developers decreasing by 56%. In contrast, GitHub’s overall base has increased significantly, totaling over 180 million.
The only growth within the crypto segment is seen in wallet infrastructure, which reports a 6% increase in developers. Despite the downturn in other areas, experienced developers with over two years in the field are increasing.