Despite increased political tensions surrounding the Russia-Ukraine crisis, crypto investment products recorded its fifth consecutive week of inflows, according to the latest report by institutional crypto fund manager CoinShares. The report, which analyzes weekly flows into digital asset funds, revealed Avalanche as the second biggest performer in the week ending February 21, with inflows totaling…
Binance, the world’s largest centralized crypto exchange by trading volume, is removing its name from Binance Smart Chain (BSC), in what appears to be an effort to strike a distance between Binance the exchange and company, and the blockchain ecosystem it created in September 2020. Going forward, the blockchain is named BNB Chain, which suggests…
Losing $80 million worth of BNB tokens in a recent hack, Qubit Finance joined the unfortunate list of exploited DeFi protocols on Binance Smart Chain (BSC). The DeFi lending protocol reported the incident in a Twitter post, revealing that the malicious attacker exploited a vulnerability on the Qubit Bridge–a cross-chain bridge to Ethereum. What happened?…
Going forward, Binance will be implementing a new automated protocol for removing Binance Coin (BNB) tokens from circulation–replacing the old quarterly burn procedure. The last BNB quarterly burn removed 1.335.888 tokens from circulation, according to the crypto exchange’s official blog announcement. Effective immediately According to the announcement, the decision to implement the new BNB auto-burn…
Binance Smart Chain (BSC) has finally activated its BEP-95 upgrade which would lead to the phase out of the old manual burning method to an automatic burning mechanism. Though the burning mechanism shares a few similar features with that of Ethereum’s EIP-1559, there are quite a number of differences in both burning methods. Binance’s BEP-95…
Total value locked (TVL) across all platforms went down from $273 billion to $261,2 billion last week, according to DeFiLlama. At the time of writing, Cronos Chain TVL hovers around $781 million, up almost 41% during the past 7-day period. Meanwhile, Avalanche TVL rose 23%. Avalanche ATH Price, volume and volatility indexes were all down…
Binance has pulled a new trick out of its bag as it plans to introduce a real-time burning mechanism, Binance Evolution Protocol, BEP-95, to its Binance Smart Chain (BSC) network. This was announced via a press statement issued by the largest crypto exchange by trading volume recently. Binance proposed BEP-95 upgrade According to the released…
The blockchain analytics platform Nansen has analyzed user activity on Binance Smart Chain (BSC) and revealed the most interesting trends in a new research report. Created as a “parallel blockchain” to Binance Chain, BSC delivered programmability and smart contracts to developers interested in launching their tokens on the network, ushering hundreds of projects, such as…
Binance cuts AUD, EUR, GBP trade pairs amidst regulatory crackdowns Crypto exchange Binance announced it is delisting margin trading pairs for three fiat currencies, namely the Australian dollar (AUD), the Euro (EUR), and the British pound sterling (GBP). 2 min read →
Following allegations of market manipulation, the management of the largest digital currency exchange platform by transaction volume, Binance, has announced that the platform has never traded against its users. In the statement, which was released on the official Twitter account of the organization, the management also maintained that it has never manipulated the market and…