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Wrapped Bitcoin garnered DeFi traders' support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions. The supply of wrapped Bitcoin (wBTC) dropped to its lowest since May 2021 after the second-largest single-day burn on Feb. 27.  A total of 11,500 WBTC worth about $260 million linked to now-bankrupt crypto lender Celsius was burned, turning its growth rate to negative. The current total supply of the wrapped token is 164,396 WBTC, with a monthly growth rate of -7.39. wBTC Daily mint and burn. Source: Dune WBTC is an Ethereum-based ERC-20 token that mirrors the value of Bitcoin and is pegged 1:1 with the Bitcoin (BTC) price. Bitgo co-developed wBTC in 2019 alongside blockchain interoperability protocol Ren and multi-chain liquidity platform Kyber. wBTC is also managed by the decentralized autonomous organization wBTC DAO, which comprises over 30 members. When a merchant wants to exchange BTC for wBTC, they start a burn transa

Join Our Telegram channel to stay up to date on breaking news coverage Despite the rapid growth of new projects, the hype around DeFi continues uninterrupted. Compared to Bitcoin and other large-cap digital coins, DeFi tokens have grown at a much faster pace this year. This wave is boosting projects serving the DeFi infrastructure. As a result, YFI is the first altcoin to surpass Bitcoin’s value price.  YFI’s proposal is almost fully realized, according to some investors in the DeFi space. Based on historical price action, current developments and social sentiments from the community, we can predict YFI price movements. The following is what to expect in the next few weeks. Yearn.finance Overview Project name Yearn.finance Ticker Symbol YFI Total Supply 30,000 Based on Yield Farming DeFi Launched year 2020 All-time high $93,425 Exchange Platform CoinEx, Hotbit, hoo, Switcheo Network, TomoDEX, Uniswap, MXC, Poloniex Wallet Wallet Connect, Tezor,

Ethereum (ETH) has been on an uptrend since late November, consolidating within a bullish technical formation. The competitive price action between bulls and bears has set the second-largest crypto by market cap on a course toward a potential bullish move. At the time of writing, ETH was trading at $1,603 after gaining 0.28% on the last day. Ethereum Price Racing For $2,000 Before March’s Shanghai Upgrade Now that the Ethereum price is back above $1,600, investor hope is rejuvenated. Evidence of this is the tremendous amount of capital inflow into Ethereum’s market capitalization over the last day. The decentralized finance (DeFi) asset recorded a market cap of $196.3 billion. Notably, Ethereum’s Shanghai upgrade is almost here. The event will facilitate the phased release of staked Ether (stETH). This major event has investors hoping for the biggest altcoin to reclaim $2,000. #Ethereum's most awaited hard fork since The Merge is happening soon – the Shanghai Upgrade. And @Bi

With the Blur marketplace set for a second airdrop soon, Nansen’s Andrew Thurman theorized that this major NFT dump could be a play to reap extra BLUR token rewards while also booking some profits. According to data from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially as Machi Big Brother — dumped 1,010 tokens for a total of 11,680 Ether (ETH) or $18.6 million in the space of 48 hours. In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman highlighted the trading activity over the previous two days, and noted that it's “likely the largest NFT dump ever.” The major selling event included 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and 308 Otherdeed NFTs to name a few. In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including: - 90 BAYC for 5707 ETH - 191 MAYC for 3091 ETH - 112 Azuki for 1644 ETH - 308 Otherdeed for 582 ETH But he's

As Bitcoin [BTC] began its recovery phase, predictions about its next move began pouring in. With the world’s largest cryptocurrency reaching the $25,000 level, several believed that $30K would soon be on the cards for the asset. While BTC attempts to push past its $25K resistance level, a crypto analyst noted that $40K could be Bitcoin’s next target. An analyst who goes by the pseudonym Kaleo pointed out that Bitcoin was eyeing the $40K price level. He wrote, “$40,000 is a magnet.” At press time, Bitcoin was trading for $23,888.01 with a 2.16% daily drop. Last week, Kaleo remarked on Twitter that although $30K was undoubtedly a “magnet,” $40K was also one. The analyst predicted that between April and July 2023, Bitcoin might reach a high of $40K and a low of $30K with its 563,900 Twitter followers. #Bitcoin / $BTC LTF roadmap w/ commentary pic.twitter.com/3zxpXGyUi7 — K A L E O (@CryptoKaleo) February 19, 2023 However, elaborating on his short-term prediction, Kaleo sa

In a superseding indictment revealed today, FTX founder Sam Bankman-Fried is facing four new criminal charges. Now, after the eight charges made public during his initial arrest, the former CEO of the collapsed crypto exchange has a total of 12 criminal charges placed against him. Bloomberg reported that the charges were unsealed today and could be used to add a defendant to the case. Specifically, the additional charges are focused on fraudulent activity and conspiratorial political donations. JUST IN: SBF charged with conspiracy to make unlawful political donations and defraud the Federal Election Commission. — Watcher.Guru (@WatcherGuru) February 23, 2023 SBF Now Facing 12 Criminal Charges At the time of his arrest in November, Sam Bankman-Fried was facing an abundant eight criminal charges. Those offenses ranged from fraud to conspiracy and were connected to the collapse of his crypto exchange, FTX . Now, with a superseding indictment unveiled today, those charges

The Alliance said it aims to focus on consumer protection, preventing naming collisions, fair and open use of intellectual property in the industry, and interoperability of blockchain naming systems, among other topics. The Web3 Domain Alliance, a member-led coalition that aims to provide a standardized framework for Web3 naming services, has announced 51 new members, including Blockchain.com, Rarible, Wyre, Bitdegree, WazirX, and Klever. These firms will help promote the development of the Web3 naming industry and the functioning of Web3 domain registries, according to the company We’re excited to announce that 52 new members are joining the Web3 Domain Alliance including @blockchain, @rarible, @sendwyre, @bitdegree_org, @WazirXIndia, and @klever_io, along with dozens of other naming systems, projects and companies! #W3DA Why this is great news [1/4] pic.twitter.com/rzSlYKYpEh — unstoppable.nft (@unstoppableweb) February 22, 2023 The Alliance is a member-led coalition focused on im

Cardano NFTs are unique digital assets on the Cardano blockchain that can be created using smart contracts and traded on NFT marketplaces. Cardano is a proof-of-stake (PoS) platform launched in September 2017 by Ethereum co-founder Charles Hoskinson. In September 2021, Cardano added support for smart contracts, which paved the way for developing decentralized finance (DeFi) and nonfungible token (NFT) applications. NFTs landed on Cardano’s blockchain in 2022, with Cardano’s native cryptocurrency ADA (ADA) utilized to buy and sell them. The deployment of smart contracts on Cardano allowed the creation of NFT marketplaces, including CNFT.IO and Jpg.store. These marketplaces facilitate NFT projects on Cardano in a cost-effective and scalable way, attracting many enthusiasts seeking a user-friendly platform for creators and traders with low-cost transaction fees.  How to mint Cardano NFTs?  Minting and creating collections are no longer intimidating hurdles for the non-techie NFT enthusia

Join Our Telegram channel to stay up to date on breaking news coverage The new M2E initiative Fight Out tracks a user’s activities in addition to their steps, which is a significant distinction from other fitness apps. In order for individuals to view their exercises in a different perspective and find them more enjoyable, Fight Out intends to make workout more like a game. The full Fight Out crypto presale update in the video above, follow his YouTube channel for more potential crypto presale updates. FGHT Token Presale The Best Selling M2E Crypto The presale of Fight Out has raised $4.4 million. The price of one FGHT token is currently $0.023. In order to attract more early investors, Fight Out has unveiled a revised incentive program during its high-potential presale, increasing the potential bonus for those who buy early by as much as 67% by using FGHT tokens. The team also decided that all investors can buy tokens without having to vest them, and that existing investor

The funds were converted to DAI stablecoins and connected to the Ethereum network through a bridge. During the European morning hours on Tuesday, whomever was responsible for the $600 million hack of the crypto exchange FTX last week began transferring the stolen assets. Friday night, the cash were stolen from FTX’s cryptocurrency accounts. Almost immediately afterwards, the exchange announced on its official Telegram channel that it had been infiltrated, telling users not to install any updates and to remove all FTX applications. Multiple addresses related to the accounts drainer have moved almost $27 million, or 21,555 ether (ETH), to a single address today. According to blockchain data, they were eventually changed to stablecoin DAI using the trading service CowSwap. Almost the course of many transactions, the addresses acquired over $48 million in DAI and exchanged it for 37,000 ether. The address currently possesses more than 288,000 ether and is the 35th-

Bitcoin’s tight consolidation near $25,000 suggests that bulls are holding on to their positions in anticipation of a breakout to a new 2023 high. Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels. Every uptrend witnesses several pullbacks and Bitcoin is no exception. However, the price action of the past several months shows a large basing pattern, which may be about to break out to the upside. If that happens, Bitcoin will signal a potential trend change. Daily cryptocurrency market performance. Source: Coin360 There are very few occasions when all the indicators turn bullish. If traders keep waiting for that to happen,

Hong Kong’s Securities and Futures Commission officially released a statement on Monday chalking out its plan to allow retail investors to trade cryptocurrencies like Bitcoin and Ethereum. According to the consultation paper released, retail investors will be allowed to trade top crypto currency assets on exchanges that are licensed by the agency. However, such virtual asset trading platforms will have to keep investor protection in mind. This means they have to tick boxes including exposure limits, risk profiles, etc. Asserting the importance of the same, Julia Leung, the SFC’s Chief Executive Officer said, “In light of the recent turmoil and the collapse of some leading crypto trading platforms around the world, there is clear consensus among regulators globally for regulation in the virtual asset space to ensure investors are adequately protected and key risks are effectively managed.” Hong Kong outlined a plan to let retail investors trade digital tokens like Bitcoin a