Cryptoverse’s biggest news on Dec 12 included Binance saying “Reuters is wrong again”, obscure tokens accounted for 15% of ETH gas fees, USDD lost peg and so on.
CryptoSlate Top Stories
XEN Crypto, an ERC-20 token launched in October, accounts for about 15% of all Ethereum gas fees.
According to a recent chart shared on Twitter by Mhonkasalo, as of December 11, XEN token gas was four times more than all Layer 2 networks, and 20% more than the largest NFT market, OpenSea.
Binance said on Dec. 12 that Reuters had incorrectly stated that the U.S. Department of Justice was seeking to indict Binance over money laundering alterations.
In a statement, Binance claimed Reuters was “attacking our incredible law enforcement team” when it shared a press release sent to Reuters. The company also new blog post Focused on its “fighting cryptocrime”.
According to local media, the Hong Kong Securities Regulatory Commission will draft new regulatory provisions to implement under the new crypto regulatory system in the wake of the FTX demise. report.
The commission reportedly claimed that FTX’s influence had impacted other crypto tokens and the crypto industry as a whole. This incident illustrates the devastating effects that can occur from using a fully unregulated trading platform.
Tron’s USDD stablecoin lost its peg as its price fell to $0.97, creating fears of another UST collapse.
TRON-based algorithmic stablecoin launch As of May 5, the current market cap is approximately $708 million. TRON founder Justin Sun said USDD USDT, USDCand Bitcoin to avoid a repeat collapse of UST.
of Tron DAO Reserve USDD supply is $725.3 million, with collateral composed of TRX, BTC, USDT, and USDC totaling $1.4 billion worth, representing a 200% ratio.
Ray YoussefCEO and co-founder of Paxful.
Comments came in response to ratings from Jeremy Garciathe CEO of Bitcoin education site Satoshi’s Journal, has accused Ethereum of being “poorly designed” and not adhering to cryptocurrency’s “first principles.”
If we calculate BTC.D using realized cap instead of market cap, the current number is 60%. This is more in line with the expectation that most users will switch to Bitcoin as a safety net during a bear market.
However, similar to the market capitalization method for calculating BTC.D, the realized cap method also shows a much higher percentage (higher than 60%) in past bear markets, where it was around 90%, such as in 2015. showing dominance.
This raises questions about changes in market dynamics in 2022 and 2015.
According to Glassnode data analyzed by CryptoSlate, bitcoin ownership is still on the rise among retail investors, who now hold 3 million bitcoins, but whale accumulation is declining. , the recent number is about 9 million.
Individual investors are those who hold less than 1 bitcoin, while whales are those who hold more than 1000 bitcoins. Bitcoin holdings by individual investors have doubled since he held 1.5 million in 2018 compared to 10 million held by institutional investors. .
Over the past 24 hours, Bitcoin (BTC) rose 0.26% to trade at $17,164.94 while Ethereum (ETH) rose 1.12% to trade at $1,268.27.
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