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Shiba Inu News
The Shiba Inu development team recently issued a warning to its SHIB Army community, regarding fake Sheboshi.
Sheboshi has been attracting attention in the crypto community since its launch in late February. However, recent developments have revealed the presence of fraudulent tokens masquerading as Sheboshis or (SHEB). , poses a threat to investors and community members.
A member of the Shiba Inu project team sounded the alarm, calling on the SHIB community to remain vigilant and cautious in the face of this development.
XRP News
During a period of extreme volatility in the cryptocurrency market, XRP's trading volume has increased 80% over the past 24 hours, exceeding $4 billion.
CoinGlass reported that derivatives alone accounted for $2.16 billion, while the spot market was at $1.9 billion, marking a 55.4% increase from the previous day.
Despite this significant increase, the token's market capitalization remains at $32.2 billion, corresponding to a trading volume to market capitalization ratio of 12.5%.
The spike in XRP trading activity comes as the market witnesses a sharp correction. Liquidation statistics reveal that over $400 million worth of positions were forced to close, with 85.5% being long positions, with XRP accounting for $5.47 million.
Investment giant BlackRock's Ethereum-based BUIDL Fund has raised $245 million in ETH tokens since launching last week. According to data from Etherscan, 10 transactions were entered into the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), starting with $5 million on March 20 when the BUIDL fund launched.
Over the next 7 days, an additional $239.8 million flowed into this ERC-20-based fund, including $92 million in Ondo Short-Term US Government Treasuries from tokenized real-world assets platform Ondo Finance.
“We are excited to see BlackRock embrace the security tokenization trend with the launch of BUIDL, especially the broad collaboration with ecosystem participants. Not only does this further validate our initial concept of a tokenized US Treasury Bond fund, but it also reinforces the thesis that tokenization of traditional securities on public blockchains represents an important next step in development process of financial markets”.
After acquiring Binance's Russian business in an undisclosed deal in September 2023, CommEx officially announced its shutdown after less than a year. Deposits/withdrawals will be stopped immediately and new registrations will be closed.
“We have to announce a gradual suspension of operations on the CommEX platform, users are recommended to immediately transfer assets to third-party wallets.
According to the suspension roadmap, CommEx will stop serving futures trading on March 28 and will also begin suspending its peer-to-peer trading platform from April 2. By April 23, CommEx will close completely shut down its spot trading platform and suspended its website on May 10.
“User accounts that retain assets after May 10, 2024 will be subject to a management fee of 1% of assets.”
In a recent development observed by on-chain alerts, the entity that participated in exploiting the Heco bridge and siphoning millions of USD at the end of November 2023, transferred 40,391.8 Ether to the Tornado Cash platform.
According to detailed information from on-chain analytics firm Peckshield, the perpetrators behind the Heco bridge attack have been actively moving large amounts of Ethereum throughout the past week.
Peckshield's warning highlights that hackers transferred 40,391.8 ETH into Tornado Cash over an eight-day period. According to current market exchange rates, this stolen property is worth $137 million.
Ethereum News
In the context of the digital currency space becoming increasingly intertwined with the global market, Ethereum marked a significant transformation this March.
Data from CryptoQuant reveals that Ethereum's net movement to centralized exchanges (CEX) has surpassed $913 million, the highest level since June 2022.
This cash flow, is calculated as the net amount between cash inflow and cash outflow. More than just a mere statistic, it reflects the growing concerns of investors in the current regulatory environment.
It could indicate bearish sentiment as investors prepare to sell off their holdings in the face of tighter regulations. On the other hand, it can also be a strategic move to take advantage of the potential market changes that regulations may bring.
Ripple News
David Schwartz, chief technology officer of Ripple, has developed a new trading bot that uses an algorithm similar to the XRP Ledger's AMM algorithm.
The bot, designed for trading on centralized exchanges, was tested by Schwartz to trade Solana.
For now, Schwartz says, the code is "really confusing," but he's thinking about the possibility of adding a GitLab link.
In a follow-up post, Schwartz explains that it's too early to truly say whether bots are capable of generating profits. With that said, Ripple executives expect it to earn around 11% per year.
At the same time, Schwartz noted, bots are incapable of taking advantage of small price fluctuations and are hampered by trading fees.