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.
Brazil moves to regulate local crypto market
The Brazilian Senate’s Economic Affairs Committee unanimously approved the crypto bill. If the bill successfully passes through National Congress, President Jair Bolsonaro will consider signing the legislation into law.
Regulatory clarity would help curb crimes associated with crypto assets. The intention of the project is to curb or restrict illegal practices, such as money laundering, tax evasion, and many other crimes.
Long-term Cardano holders hit a multi-year high
Into The Block data indicates that the wallet balance held by long-term Cardano holders hit a multi-year high on February 23. These hodlers increased their positions to $10.12 billion ADA, the largest balance since December 11, 2019.
Top 10 Daily Gainers – Web3 Section
GLM, the utility token of the Golem ecosystem, grew by 62.59% after 24 hours. This asset has gained 73.97% in 1 week and up 86.59% in just one month.
These outstanding achievements have propelled GLM above the competition to climb to the top of the most bullish Web3 assets and the Top Gainers on ONUS. Other Web3 tokens also made the list, including HIVE (up 15.87%), RNDR (up 12.56%), BICO (up 10.41%),…