The Graph (GRT) flips MATIC to becomes most traded token by ETH whales
The Graph (GRT) has flipped Polygon (MATIC) coin to become the most traded coin by the 1000 biggest Ethereum (ETH) whales in the last 24 hours. GRT Coin has also made it to the list of top 10 coins purchased by the biggest ETH wallets. The coin stands in the ninth spot.
America’s oldest bank to track customers’ Bitcoin transactions with Chainalysis integration
BNY Mellon, the world’s largest custodian bank, is set to integrate blockchain data platform, Chainalysis to help monitor and analyze cryptocurrency products. The move is a part of the institution’s strategy to build cryptocurrency services for its clients.
This will help its clients to assess the cryptocurrency trends and “granular activity in support of its compliance and due diligence practices.” In short, BNY Mellon wishes to track the assets of the custody services that it provides its clients with.
Highlights of the week
$AXS, Bit2Me sign partnership
$SKL launches $100 million ecosystem fund
Zelcore partners with $FIO to create better user experience
Aada Finance to integrate the Djed stablecoin, issued by $COTI
$LUNA raises $1 billion to form Bitcoin reserve for UST stablecoin
Top 3 Daily Losers
After witnessing impressive growth yesterday, GLM is correcting 15.8% to drop to a more stable price of $0.50592386. However, based on the weekly price, this asset has gained 53.02%.
VR and HERO were two other assets that saw a drop in value, falling 15.08% and 13.89%, respectively.
306 million XRP shoveled between anonymous wallets
Whale Alert detected a staggering sum in XRP transferred between two anonymous wallets. They shifted 305.8 million XRP, equivalent to $233,131,991, according to the current exchange rate.
China outlaws crypto fundraising, offenders could face jail sentences
Under new legal interpretation from China’s Supreme People’s Court, raising funds using cryptocurrency is deemed as an illegal activity in the country, according to South China Morning Post.
The amendment which comes into force from March 1, states that Chinese courts can now officially issue jail sentences to offenders–ranging from below three years to over ten years in prison.
105.7 billion SHIB bought by major Ethereum whales
According to the recent reports of WhaleStats data aggregator, on February 25, an investor grabbed 49,998,916,299 SHIB, equivalent to $1,211,473 in fiat. This investor now holds a total of $866,896,450, which is 12.4% of their crypto portfolio.
The second investor acquired 55,802,919,158 SHIB. This amount of crypto is worth $1,373,867, according to the current SHIB/USD exchange rate.
$5 billion ETH has been burned since EIP-1559
According to Watch the Burn data, since EIP-1559 took effect, more than 1.9 million ETH have been destroyed, with a cumulative value of more than $5 billion, with a net reduction rate of 69.65%.
Cardano adds close to 5k new wallets daily in February
In 2022, as the Cardano (ADA) blockchain continues to expand, the number of wallets storing the network’s native currency, ADA, has climbed dramatically.
The number of Cardano wallets has increased by 3.66% since the beginning of February 2022, growing from 2,992,417 on February 1 to 3,101,997 on February 24, representing an average growth of 4,565 wallets per day, according to the statistics released by Cardano Blockchain Insights.
SHIBA INU launches its own token burn portal to reduce circulating supply
The team behind the meme-inspired cryptocurrency SHIBA INU has announced that when a new version of the project’s decentralized exchange ShibaSwap launches, it will include a token burning portal that is set to help the cryptocurrency’s community burn tokens in an effort to reduce its circulating supply.