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Home > News
Published: 15/03/2024
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Author: Kane
OKX Announces Listing of Polyhedra Network (ZK)
Cryptocurrency exchange OKX has announced the listing of Polyhedra Network (ZK), a Web3 infrastructure project. Read more details here!
Azcnews Breaking
Cryptocurrency exchange OKX has announced that it will list Polyhedra Network (ZK) on Spot trading on March 19, 2024. Here are the details:
ZK deposits will open at 08:00 AM UTC on March 15, 2024.
ZK/USDT spot trading will open at 10:00 AM UTC on March 19, 2024.
ZK withdrawals will open at 10:00 AM UTC on March 20, 2024.
To trade ZK, you can register through our referral link to enjoy reduced trading fees and exclusive benefits.
Register here
Related: OKX to List QnA3.AI’s GPT Token on its Spot Market
About Polyhedra Network (ZK)
Interface Polyhedra Network
Polyhedra Network is an infrastructure project for Web3, focusing on expanding interaction capabilities and protecting privacy rights in the Web3 space, based on Zero-knowledge proof technology.
The project provides highly efficient interaction solutions and minimizes trust to convert assets, transmit messages, and share data between different Web2 and Web3 systems.
Polyhedra Network has successfully raised a total of $25 million from Binance Labs and blockchain-focused investment company Polychain Capital. Additionally, the project is supported by other notable names such as Animoca Brands, Space ID, Metis, and Galxe.
In OKX’s announcement, the token allocation of the project is as follows:
Core development team: 10.00%
Project reserves: 15.00%
Community, Airdrop, and Marketing: 15.00%
Investors: 28.00%
Incentive for network and ecosystem: 32.00%
With the project allocating 15% of tokens to Community, Airdrop, and Marketing, many are expecting the project to organize an airdrop in the near future. Previously, the project disclosed that users of zkBridge, holders of NFT Pandra King, and event participants would receive an airdrop.
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#OKX
#Polyhedra Network
#ZK
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News | Altcoin | Editor Choice 15/03/2024
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Home > News
Published: 15/03/2024
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Author: Leexim
Ethereum Dips Below $4000 But Signals Remain Positive
Ethereum's price falls under $4,000 mark, yet off-exchange supply surpasses on-exchange holdings.
Azcnews (1)
Table of Contents
Ethereum (ETH) has undergone a period of strong growth, surpassing $4,000, highlighting the possibility of surpassing its previous all-time high (ATH).
Although the price has dropped from its peak, there are still positive signs, with the prospect of setting a new ATH still within reach.
How is Ethereum supply trending on exchanges?
According to new data from CryptoQuant, Ethereum is showing strength through a gradual decrease in the amount of ETH sent to exchanges. The chart illustrates a consistent decrease in the amount of ETH sent for live trading on the exchange over the past few months. This signal shows that some holders have withdrawn their funds from the exchange, a sign of holding assets or buying and holding.
However, a more detailed look from Santiment shows the opposite trend. Since January, Ethereum supply on exchanges has increased. The chart shows an increase from about 10 million to more than 13 million at this time.
Ethereum volume on exchanges
Source: Santiment
This increase shows that a large number of users have transferred their ETH to the exchange, possibly to take advantage of ETH’s recent price fluctuations.
Comparing off-exchange supply with on-exchange supply provided a clearer view of the situation. Analysis of supply on the exchange shows a relatively stable recent trend. The volume is over 121 million to date, indicating a significant amount of ETH is held outside of exchanges.
Ethereum falls below new high
Ethereum has recorded a sharp decline, taking the price below new highs. Analysis of Ethereum’s daily performance shows a drop of more than 3% late on March 14, when the price stabilized around $3,870. This marks a step back from the $4,000 price level at the beginning of the week.
Ethereum price trend
Source: Trading View
However, as of press time, the decline has escalated further, with the price falling more than 5% to around $3,680. This is the largest and consecutive decrease since around February 24.
Related: Ethereum Dips as Demand for Put Options Surges Significantly
The volume of holders continues to increase
Despite signs of a downturn, data on Ethereum supply on exchanges suggests this may just be a temporary reaction. Supply on exchanges is still significantly exceeding supply on exchanges, indicating that a large amount of Ethereum is held outside of exchanges.
Ethereum holders
Source: Santiment
Meanwhile, the number of Ethereum holders continues to increase, according to analysis from Santiment, showing a steady increase over many months. As of this writing, the number has reached 117 million. This increase shows steady interest from investors continuing to accumulate Ethereum.
The accumulation trend remains a positive sign for Ethereum’s price, despite the recent price drop, when combined with significant holdings of Ethereum outside of exchanges.
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Azcnews Breaking
News | Altcoin | Editor Choice 15/03/2024
OKX Announces Listing of Polyhedra Network (ZK)
Cryptocurrency exchange OKX has announced the listing of Polyhedra Network (ZK), a Web3 infrastructure project. Read more details here!
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Home > News
Published: 15/03/2024
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Author: Leexim
Senators Pressure SEC Against Approving Additional ETFs
Two Democratic senators contend that additional approvals could potentially subject investors to risks such as "fraud and manipulation."
Azcnews (1)
Table of Contents
Two US congressmen proposed giving Gary Gensler control of all cryptocurrency ETFs, citing huge risks to retail investors. In a letter sent on March 11, Jack Reed and Laphonza Butler, both Democrats, spoke out against allowing the Securities and Exchange Commission (SEC) to approve more ETFs. Cryptocurrency will push investors into “sparse” markets full of fraud and manipulation.
There are 8 spot Ether ETFs awaiting approval
There are currently eight spot Ether ETF proposals awaiting SEC approval, and it is expected that other altcoins will follow suit. “Their letter said retail investors would face significant risks from ETPs linked to thinly traded cryptocurrencies or from cryptocurrencies whose prices are susceptible to pump operations” and dumping or other fraudulent activities,” said the letter.
Reed and Butler also urged the SEC not to approve recent Bitcoin (BTC) spot ETFs to avoid setting a precedent for further approval decisions. They assert that although the Bitcoin market has revealed “serious weaknesses”, it is still more thoroughly built and tested than the market of any other minor cryptocurrency. “Whether or not Bitcoin is susceptible to fraud and manipulation, other cryptocurrency markets are at much higher risk of improper behavior,” they said.
The senators also called on the SEC to take “a number of specific measures” with respect to already-launched Bitcoin ETF products, requiring BTC ETF brokers and advisors to comply with the regulation and submit to regulatory oversight more stringent. Alexander Grieve, head of government relations at crypto venture capital firm Paradigm, said that the success of Bitcoin spot ETFs has “clearly created unrest” on Capitol Hill.
Related: JMP Securities Forecasts Bitcoin Could Reach $280,000 USD
Spot Ether ETF approvals are becoming more difficult
Experts in the cryptocurrency sector say the letter is a testament to the growing political pressure on Gensler – which makes the approval of an Ether ETF in May seem less likely. “Bitcoin ETF’s Wild Success Is Making Senior Democratic Officials Uncomfortable Investor’s Remorse. This Is Part of the Reason Why We Are Not Optimistic About Approval of Eth etf,” Balchunas said in a March 15 post.
On March 11, Balchunas announced that the likelihood of spot Ether ETF approval in May was only at 35%. In January, he estimated the approval rate at 70%, and he said “radio silence” from the SEC toward potential fund issuers was a negative sign.
Both Butler and Reed have been involved in drafting several bills aimed at regulating cryptocurrencies in the United States. On December 11 last year, Butler joined Senator Elizabeth Warren’s controversial digital assets anti-money laundering bill as one of its co-sponsors. In July, Reed sponsored a bipartisan bill to tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and impose sanctions on financial activity Decentralization (DeFi).
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Azcnews Breaking
News | Altcoin | Editor Choice 15/03/2024
OKX Announces Listing of Polyhedra Network (ZK)
Cryptocurrency exchange OKX has announced the listing of Polyhedra Network (ZK), a Web3 infrastructure project. Read more details here!
Azcnews (1)
News | Altcoin | Editor Choice 15/03/2024
Ethereum Dips Below $4000 But Signals Remain Positive
Ethereum's price falls under $4,000 mark, yet off-exchange supply surpasses on-exchange holdings.
Azcnews
News | Altcoin | NFT | Policy & Regulations 15/03/2024
Magic Eden Launches NFT Collection on Ethereum
Magic Eden, a leading digital token marketplace platform, collaborates with Bored Ape Yacht Club and Yuga Labs to unveil an exclusive commemorative NFT token series.
Azcnews Breaking
Altcoin | Editor Choice | News 15/03/2024
Avalanche Foundation Announces Holdings of 5 Memecoins
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Azcnews (3)
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