Whopping 500 million XRP withdrawn from Kraken in single transfer on the dip
According to Whale Alert cryptocurrency tracker, roughly seven hours ago, a staggering 500 million XRP was transferred from a major crypto exchange Kraken. This amount of cryptocurrency is worth $161,221,380.
An amount of half a billion XRP tokens were sent from a Kraken wallet to an anonymous crypto address, while the seventh largest digital currency is trading in the $0.32 range.
Meta announces Facebook and Instagram users can post NFTs from digital wallets
Meta, the parent company behind social media platforms Facebook and Instagram, announced Monday that it allowing users to add digital wallets and virtual assets to Facebook.
The firm’s move now brings NFTs to Facebook’s 2.9 billion users, according to Statista. This update means that users can post their NFTs across both Facebook and Instagram.
Polkadot parachain Moonbeam integrates cross-chain messaging protocol LayerZero
Polkadot parachain Moonbeam has integrated cross-chain messaging protocol LayerZero to facilitate Web3 interoperability, Polkadot said Monday.
Derek Yoo, the CEO of Purestake, the development team behind Moonbeam, announced that its integration of LayerZero will offer a broader messaging service across various chains such as Ethereum, BNB Chain, Polygon and others.
Dubai issues guidelines for crypto promotion
Dubai’s virtual asset regulatory authority (VARA), a cryptocurrency regulator, has reportedly announced new guidelines on marketing, advertising and promotions of virtual assets.
The guidelines are expected to cover all forms of virtual asset service providers (VASPs), including advertising platforms, ensurance of factual accuracy and demonstration of promotional intent to avoid misleading customers.
40% of Singaporeans currently own crypto
Per a recent survey by Independent Reserve, 40% of Singaporeans currently own crypto. Among them, around 76% hold two or more different types. Bitcoin remained the most popular cryptocurrency, with 78% of investors holding it. 50% hold Ethereum and the third most popular cryptocurrency is Dogecoin, held by 25% of investors.
Alongside, the overall awareness also remains to be high. Per IR, 90% of Singaporeans have heard of at least one crypto, while 87% have heard of Bitcoin. Furthermore, around 47% plan to buy crypto in Singapore in the next 12 months.
Top 5 Daily Gainers
Over the last 24 hours, the market has witnessed strong growth in green, with FaceDAO (FACE) having the highest increase of 60% on the ONUS app.
At the broader time frame, this asset has gained 124% after 1 month. Following behind are CAW1000 (up 32.87%), FRR (up 27.5%), LOKA (up 26.13%), UFO (up 22.62%).
EIP-1559 has burned 2.6 million Ethereum
According to Watcher.Guru, 2,600,000 Ethereum has been burned since the EIP-1559 update. This amount of ETH is equivalent to $3.86 billion.
DOGE is in top 10 by trading volume
As reported by WhaleStats, a portal that tracks the actions of major cryptocurrency holders referred to as whales, Dogecoin has become one of the most traded assets by this group of investors over the past 24 hours.
Dogecoin is the 13th on the list of the most held assets by the top 100 BNB wallets. According to WhaleStats, the average position size of a BNB whale in DOGE is 906,368 coins, which is equivalent to $57,650.
Bitcoin mining difficulty expected to spike 6.8% to reach ATH
In August 2022, the difficulty hit 28.35 trillion at a block height of 749,952, down 10% from the previous high of 31.25 trillion in May 2022.
The average block time reached 9.1 minutes, signaling a potential increase in difficulty to take the block time to ten minutes. Consultancy firm Blocksbridge expects the difficulty to spike 6.8% in the most significant increase for the year-to-date, which could see the metric surpass the previous record.
Bitcoin exchange outflows exceed $1 billion daily
Following sharp price declines due to the Terra scandal and subsequent industry-wide deleveraging, Bitcoin bottomed out on June 18 at $17,600. Data showed steady BTC outflows since bottoming out, with daily outflows exceeding $1 billion daily on average.
Over the last week, the exchange exit rate has increased significantly, despite Bitcoin falling to $20,800 on August 19. This suggests that investors see value in the current price range.