BONK drops 7% Despite Burning $51M Worth of Tokens During “BURNmas”
The Solana-based memecoin BONK saw a notable 7% drop in value, even after an ambitious token-burning event removed 1.69 trillion BONK tokens—equivalent to over $51 million—from circulation. In late November, the BONK team unveiled plans for “BURNmas,” an initiative aiming to burn 1 trillion tokens. The campaign incentivized social media engagement by burning 1,000 BONK […]
Bitcoin Steady Amid $14B Options Expiry, Eyes $110K Target
Bitcoin’s price has held steady even in the face of a massive options expiry, which some feared could trigger a drop below the critical $85,000 threshold. On December 27, over $14.2 billion worth of Bitcoin options expired at 8:00 am UTC. The “max pain” level for this expiry, where most contracts would lose their value, […]
Tether grapples with new FUD as MiCA regulations take effect on Dec. 30
The European Union’s Markets in Crypto-Assets Regulation (MiCA), set to take effect on December 30, introduces strict compliance standards for stablecoins. This regulatory shift has sparked questions about the future of Tether’s USDT in the European market. The new rules place significant operational demands on stablecoin issuers, leaving USDT’s compliance status unclear. Amid this ambiguity, […]