“Scarcity” may be a crypto buzzword, but “shortage” has hardly made the footnotes – until now. In early July, the developers behind U Network, a blockchain publishing protocol valued at around $8 million, abruptly announced that it had run out of its reserve of UUU crypto tokens, and that it planned to buy back some of the supply it distributed to early investors through its airdrop in February. At the start of the project, U Network established a 10 billion UUU cap on its token supply (worth approximately $15.6 million), setting aside…
Tag: Tokens
Coinbase Says It Now Has Regulatory Approval to List Security Tokens
U.S. cryptocurrency exchange Coinbase has received regulatory approval to acquire several securities firms – a move that could eventually see it supporting trading in tokens deemed as securities. A spokesperson for the exchange said in an email response to CoinDesk on Tuesday that the Financial Industry Regulatory Authority (FINRA) has approved recently revealed acquisition deals for currently regulated firms. Last month, the exchange announced that it intends to purchase three companies – Keystone Capital Corp., Venovate Marketplace and Digital Wealth LLC – as a means to becoming a regulated platform for offering trading…
A Crypto Exchange Is Buying Back $24 Million-Worth of Its Own Tokens
FCoin, a new cryptocurrency exchange that saw spiking trading volume recently due to its controversial revenue model, has revealed a plan to buy back millions of its own tokens to provide capital for a new fund of funds. The exchange announced last Friday that the new fund will be backing a group of selected token funds to further invest in blockchain and cryptocurrency projects. The funds selected will all be accredited sponsors, it added. During an initial phase, it will allocate 100 million of its own FT tokens – worth around…
BitGo Adds 57 Ethereum Tokens In Largest-Ever Custody Service Expansion
The wider world of crypto tokens is becoming a bit more accessible to institutional investors. The security startup BitGo exclusively told CoinDesk on Tuesday, July 10, it will expand its suite of custody products and services to support 57 new ethereum assets, a move driven by demand for services that safeguard private keys – the alphanumeric strings that act as passwords for crypto assets – and that, once lost, are gone forever. As such, the move is a telling one for the blockchain security sector, one that showcases how it’s…
Crypto Market Remains Above $250 Billion as 0x, Status, and Tokens Surge
The valuation of the crypto market has remained above the $250 billion mark, closing July 1 at $255 billion. Tokens have performed particularly well, recording gains in the 10 percent region. 0x, Status, Funfair, and Aion The top performers of July 2 were ERC20-based tokens 0x (ZRX), Status (SNT), Funfair (FUN), and Aion (AION). ZRX demonstrated the largest gain amongst major digital assets and tokens, seeing a 14 percent increase in its value against the US dollar and bitcoin. Throughout last week, amidst a drop from $6,500 to $5,800, the…
Crypto Market Remains Relatively Stable, Tokens Record Big Gains as Theta Surges 30%
The crypto market has slightly rebounded by $4 billion over the past 24 hours, providing investors with a breathing room in a major mid-term sell-off and downtrend. In a sideways market, a period in which major cryptocurrencies like bitcoin, Ethereum, Ripple, and Bitcoin Cash barely move but still secure some stability, tokens and small-scale cryptocurrencies tend to perform exceptionally well against both the US dollar and major digital assets. Interesting Trend of Tokens and Their Strong Performances The crypto market is still largely dependent on two major digital assets: bitcoin…