Category: blockchain

Meaning and importance of a seed phrase explained A seed phrase (also known as a wallet recovery phrase, mnemonic phrase or cryptocurrency seed phrase) is a series of 12 to 24 words generated by your cryptocurrency wallet.  Why is the seed phrase important? These words are used to derive your private keys, allowing access to…

Solana’s decentralized applications (DApps) surged in November, driven by memecoin launchpad Pump.fun and the blockchain’s decentralized finance (DeFi) ecosystem. Research platform Syndica reported that Solana-based DApps had revenues of $365 million in November. Pump.fun became the first Solana DApp to surpass $100 million in monthly revenue, according to the data. Solana DApps revenue in 2024.…

HashKey Chain, a public blockchain developed by Hong Kong-based HashKey Group, officially launched its Ethereum layer-2 mainnet on Dec. 18. The mainnet launch follows a month-long successful testnet period during which more than 860,000 wallet addresses were registered, a reported 24.72 million transactions were recorded, and over 300,000 community members participated.  Hashkey Group announced the…

Pudgy Penguins’ native token, PENGU, is down more than 50% in the first hours of trading after the non-fungible token (NFT) project’s much-anticipated Dec. 17 airdrop.  The project has distributed approximately half of PENGU’s total supply of nearly 89 billion tokens to community members, with around 26% earmarked for NFT holders, according to Pudgy Penguins’…

Gaming tokens could be in for a setback after non-fungible token (NFT) platform CyberKongz was hit with a Wells notice by the United States securities regulator. The Securities and Exchange Commission (SEC) brought up the “concerning rhetoric” that an ERC-20 token in tandem with a blockchain game cannot be issued without it first being registered…

Non-fungible token (NFT) marketplace OpenSea has sparked speculation of an impending token launch and user airdrop following its registration in the Cayman Islands. The news was shared on Dec. 14 by Waleswoosh, a pseudonymous researcher from the Azuki NFT collection, who posted a screenshot of OpenSea’s Cayman Islands registration. NFT community members have since speculated…

JPMorgan raises price targets on Bitcoin mining stocks Analysts at JPMorgan raised price targets for four Bitcoin mining stocks to reflect value from the miners’ electrical power assets and BTC holdings, according to a Dec. 10 report shared with Cointelegraph.  The mining operations to see upgrades include MARA Holdings (MARA), CleanSpark (CLSK), Riot Platforms (RIOT)…

Layer-1 blockchain Sui and China’s Ant Digital will work together to tokenize real-world assets. They plan to concentrate on assets in the environmental, social and governance (ESG) space. Tokenizing Chinese solar assets Assets, which the partners are calling “notes,” of a Chinese solar material manufacturer ranked in the Fortune China Top 500 will be the…

Corporate executives are selling their stock shares at unprecedented levels as Bitcoin continues to sustain above $100,000. The corporate executive stock sale ratio reached a new all-time high of six sellers to buyers, according to Financial Times data shared by the Kobeissi Letter in a Dec. 12 X post: “Corporate executives are now selling their…

Layer-1 blockchain Avalanche announced the closure of a $250 million private locked-token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital on Dec. 12.  More than 40 companies joined the token sale including SkyBridge, SCB Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic Capital, Morgan Creek Digital, FinTech Collective and others.  The raise comes…

Natural gas is currently in high demand from Bitcoin mining companies and AI data center operators. According to Mohamed El-Masri, a managing partner at Hodler Investments and CEO of tokenized energy trading platform PermianChain, recapturing energy from gas flaring could be a $16 billion opportunity. The executive said that much of the current demand for…

Blockchain oracle network Chainlink has integrated with Coinbase’s Project Diamond, Coinbase’s digital asset platform for global institutions. The integration will provide data and enable full lifecycle management of new tokenized assets on the platform. Providing data and interoperability Project Diamond is regulated by the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM)…

Google’s Quantum AI team has revealed its new quantum computing chip, capable of solving a computational problem in less than five minutes — the same problem that would take one of the best supercomputers around 10 septillion years to solve. The chip, known as Willow, can exponentially correct errors and process certain computations at a…

Radiant Capital said a $50 million hack on its decentralized finance (DeFi) platform in October was carried out through malware sent via Telegram from a North Korea-aligned hacker posing as an ex-contractor. Radiant said in a Dec. 6 update of an ongoing investigation that its contracted cybersecurity firm Mandiant has assessed “with high-confidence that this…

Non-fungible tokens (NFTs) started strongly in December, with Ethereum leading the top digital collectible blockchains in sales.  On Dec. 8, NFT data tracker CryptoSlam reported that digital collectibles recorded more than $187 million in weekly sales volume during the first week of December, continuing an upward trend that began in October. The opening week of…

Pavel Durov, the founder of Telegram, was reportedly questioned in a Paris court for the first time regarding a legal case involving allegations of the messenger app facilitating criminal activity. Durov appeared in a Parisian court at 10 am CET on Dec. 6, alongside his lawyers David-Olivier Kaminski and Christophe Ingrain. An anonymous source familiar…

Sky, formerly known as MakerDAO, is facing criticism for its reliance on an externally owned account (EOA) to manage $756 million in USD Coin reserves within its lite peg stability module (PSM). Concerns were raised by an X user about the protocol’s reliance on an EOA to manage a substantial portion of its reserves, amounting…

The ‘Asian MicroStrategy’ exits crypto Chinese selfie app developer Meitu has cashed out all of its cryptocurrency holdings, earning roughly an 80% profit. The company began selling its crypto assets in November.  In a Dec. 4 statement, Meitu confirmed that it no longer holds any cryptocurrencies. Meitu invested in 31,000 Ether and 940 Bitcoin in…

Venture capital firm Andreessen Horowitz (a16z) has named key sectors within the crypto industry for the upcoming year, highlighting use cases for tokenization and the integration of artificial intelligence with blockchain technology as potential growth drivers. According to a16z’s report, applications based on AI and running onchain are expected to deliver at least three emerging…

Multisignature wallet and digital assets platform Safe is gearing up to launch a blockchain transaction processor network next year, allowing instant crosschain payments before funds leave a user’s account. Safe co-founder Lukas Schor told Cointelegraph at Token2049 last month that its decentralized transaction processor network, Safenet — announced on Dec. 3 — took inspiration from…