You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The WLFI community is currently voting on a USD1 airdrop proposal, while the token experienced a sharp 1,540% surge from $128 million to $2.1 billion in just two days in late April.

USD1 Circulates Mostly on BNB Chain

The vast majority of USD1’s supply is issued on the Binance-backed BNB Chain. Data from BscScan shows that over $2.1 billion worth of USD1 is circulating on the BEP-20 network, while its Ethereum-based ERC-20 version accounts for just $14.5 million, per Etherscan.

This massive spike occurred just days before Eric Trump announced that Abu Dhabi-based firm MGX would be investing $2 billion using USD1 on Binance.

HTX Among First Exchanges to List USD1

HTX (formerly Huobi), a crypto exchange associated with Tron founder Justin Sun, was among the first CEXs to list USD1, offering zero-fee withdrawals on the BEP-20 network from May 6 onward. Until then, USD1 was mostly available on decentralized exchanges like PancakeSwap and Uniswap.

Reports indicate that 90% of WLFI investors come from outside the U.S., with strong participation from Europe, Asia, and Latin America. This was echoed in a Bloomberg report from May 7, noting that most top holders of Trump-branded memecoins reside abroad.

The rise of USD1 aligns with Trump’s January 2025 executive order, “Strengthening American leadership in digital financial technology,” which promoted stablecoin innovation. However, both Trump and Binance have denied having any formal partnership or ties.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Trump-Backed USD1 Becomes the 7th Largest Stablecoin in Just 2 Months appeared first on Coin Engineer.

The fund’s co-founder, Du Jun, said in an April 19 X post that while ABCDE will no longer back new ventures or pursue a second round of capital, it remains committed to its current portfolio through strategic exits and continued guidance.

ABCDE Shifts to Deep Incubation

“My personal focus is shifting toward strategic investments and deep incubation, targeting long-term value creation and industrial synergy,” Jun stated.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

The move follows ABCDE’s most recent investment in Soon, an Ethereum L2 solution claiming faster block times than Solana.

Portfolio Strategy and Market Outlook

According to Cryptorank, ABCDE allocates:

• 28% to Bitcoin scaling
• 16% to Ethereum LSDFi
• 12% to L2s and restaking

The firm has deployed over $40M into 30+ projects, maintaining a top-tier internal rate of return (IRR) despite the bear market.

New Incubator Vernal to Launch in May

The decision comes on the heels of the Vernal launch — a new incubator brand by Du Jun. It will announce its first cohort and incubation framework next month.

Jun clarified the fund’s pause is not due to lack of money but rather concerns over the short-termism in crypto:

“Too many projects just want to get listed fast. What’s left is chaos,” he said.

“Some funds hype short-term market caps instead of true value creation,” he added.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post ABCDE Halts New Web3 Investments to Focus on Vernal Incubator appeared first on Coin Engineer.

Details

The 70,182 ETH transferred by Justin Sun originated from the following sources:

• 42,905 ETH was unstaked from Lido Finance, a decentralized liquid staking protocol.
• 27,277 ETH was transferred from the Etherfi platform.

With this transaction, Sun’s total Ethereum deposits to HTX as of the end of November reached 179,101 ETH, valued at approximately $645 million.

Other Major Transactions in December

• December 23, 2024: Justin Sun liquidated 39,999 ETH (worth $143 million) from Lido Finance and Etherfi and deposited the funds into HTX.
• December 16, 2024: He requested to withdraw 52,905 ETH (valued at $209 million) from Lido Finance.

Market Impact

Justin Sun’s actions could lead to short-term price fluctuations in the Ethereum market, as his large-scale transactions draw attention and influence trading dynamics.

Additionally, please don’t forget to follow us on our Telegram  ,YouTube and Twitter channels.

The post Justin Sun Transfers $244 Million Worth of Ethereum to HTX appeared first on Coin Engineer.

What is ForTube?

ForTube, a blockchain project offering decentralized finance (DeFi) services, was established in 2020. Formerly known as The Force Protocol, ForTube aims to make financial services more inclusive by providing global access through ForTube cryptocurrency bonds. The platform seeks to revolutionize traditional banking by offering decentralized banking services.

Cryptocurrency bonds represent a new type of bond where cryptocurrencies are used for payment. These bonds offer two main advantages to the virtual currency market: they provide financing within the digital currency space and introduce fixed-income products that meet investor needs while contributing to the sector. Additionally, cryptocurrency bonds rely on distributed ledger technology (DLT). Built on the Binance Smart Chain, ForTube offers developers a variety of products, including a dApp development kit and APIs. ForTube users can borrow and lend funds on the platform, with interest rates automatically adjusted by the platform.

What is FOR Coin and What is It Used For?

FOR Coin is the native cryptocurrency of the ForTube platform, offering benefits for on-chain payments. As a governance token, FOR provides its holders with various advantages within the network. FOR Coin holders can participate in the platform’s governance, voting on proposals related to its management. Additionally, they can engage in the QIAN ecosystem on matters like stability regulation and global debt auctions. FOR Coin is also a stakeable token.

Users can lock FOR tokens in liquidity pools for a specific period and earn additional token rewards upon maturity. FOR Coin offers holders the right to vote on ForTube platform decisions and earn passive income. Moreover, deposit and interest rates are competitively advantageous compared to other platforms.

Where and How to Buy FOR?

FOR Coin, the native cryptocurrency of the ForTube platform, is listed on several cryptocurrency exchanges, including Binance, PancakeSwap (V2), Gate.io, Huobi, Bitget, MEXC, Upbit, and Bitrue. Investors interested in purchasing FOR should first choose a platform and register. After creating an account, users must complete identity verification. Investors can then buy FOR Coin in their preferred quantity on the trading page. Purchased FOR Coins can be used in transactions or stored securely in wallets for future use.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post What is ForTube? What is FOR Coin Used For? appeared first on Coin Engineer.

KuCoin Settles Penalty, Resumes Operations

KuCoin has already settled its compliance proceedings with the FIU by paying a $41,000 penalty. This has allowed them to resume operations in India.

Binance, on the other hand, has yet to resume operations. The exchange is currently undergoing a hearing with the FIU to determine its financial penalty. Once the penalty amount is finalized, Binance will be able to complete its compliance process and re-enter the Indian market.

Previous Ban Lifted

This news comes after Binance and KuCoin were among several offshore cryptocurrency exchanges banned by India in December 2023. Other banned entities included Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex.

The post Cryptocurrency Exchanges Gain Foothold in India appeared first on Coin Engineer.

You may notice: Ethereum ETF Approval May Come!

“A verified account associated with a well-known media outlet contacted one of our employees. Unfortunately, it appears that this account was compromised, leading to a phishing attack against our employee. We quickly detected the intrusion and deleted the relevant tweets within minutes. Based on our investigations, there is no significant loss due to this incident.”

In addition, the Discord on Certik’s official website was replaced with a fake Discord containing phishing links.

Incident Timeline

In its statement on X, the major blockchain security firm Certik shared the action it took against the hack, step by step with the times. It also stated that there was no significant loss in this incident.

“-The security of the Twitter account was compromised and a tweet containing a phishing link was posted. -We detected the security breach and initiated the recovery process. -The first phishing tweet was deleted. -We completed the initial investigation and the risk has been eliminated.”

What is Certik?

Certik is a leading security company in blockchain security, with a huge infrastructure like Al technology. Thanks to Certik, critical processes can be made the most secure with the latest system, secure codes, and verification systems. For example, large exchanges such as Binance and Huobi and smart contracts such as the Binance Smart Chain DeFi protocol and Pancakeswap are audited by Certik.

The post Certik Issues Statement After Hack Incident appeared first on Coin Engineer.

The STX coin chart shows a cup and handle formation, and the formation is completed by breaking the neckline at 1.74 and closing above it.

You might like: STX (Stacks) – What is it? What are the important levels for buying?

If our graph starts to close above the 1.74 level, the formation will be completed and it may be an appropriate time to take a LONG position. Our target point is set at 2.13. However, there is a noteworthy detail, there is excess liquidation accumulated at the 1.4794 level. There is 741.90K liquidation accumulated here and fiat can move to this level instantly.

STX (Stacks) is a blockchain platform designed to create decentralized applications. This platform uses the Bitcoin blockchain and uses a sidechain to process smart contracts.

Stacks are used to support smart contracts and decentralized applications, and allow users to develop applications on Bitcoin. This provides innovation and diversity within the Bitcoin ecosystem. STX tokens are used to pay transaction fees for Stacks and to vote on the network.

We observe intense liquidations at certain fiat levels in the liquidation heat map. In the charts, fiat usually moves in the direction of the accumulation of liquidation. We can also see that there are excess liquidation areas that need to be taken in the upper part of the STX chart.

In general, when we look at the Long-Short ratios, we usually see that Short and Long positions are in balance. However, the situation looks a little different on Binance Exchange, and we observe that the number of users taking Long positions is high. This situation can trigger a small retracement and liquidation trend.

Stacks STX Market Data

• Market Cap: $2,333,505,185 (39th), 15.38% increase
• Volume (24h): $326,896,913 (43rd), 15.03% increase
• Volume / Market Cap (24h): 9.01%
• Circulating Supply: 1,430,573,011 STX (78.69%)
• Max Supply: 1,818,000,000 STX

You can easily buy and sell STX Token from global exchanges such as Binance, BitGet, Kucoin, Mexc, Huobi, and Gate.io. If you want to benefit from the discount link specifically defined for Coin Engineer followers, you can use our referral code by clicking on the exchange you want to register.

Analysis

The STX coin chart is currently in a cup and handle formation. This is a bullish formation that can lead to a significant price increase. If the coin breaks the neckline at 1.74 and closes above it, the formation will be completed and a LONG position may be appropriate.

The target point for the STX coin is set at 2.13. However, there is a risk of a small retracement to the 1.4794 level before the coin reaches this target. This is due to the excess liquidation accumulated at this level.

The Long-Short ratio on Binance is also in favor of the bulls. This suggests that there is more buying pressure than selling pressure in the market.

Overall, the technical indicators are bullish for the STX coin. However, it is important to be aware of the risk of a small retracement before the coin reaches its target point.

The post STX (Stacks) Chart Analysis and Price Prediction! appeared first on Coin Engineer.

You might like: Will Near Continue to Rise? Near Comment!

We did some minor research on the chart for the recent remarkable uptrend we caught in the Near chart. Our formation, known as the “Adam and Eve”, has met the conditions needed for completion, and the price has reached the neckline. If closure starts to occur above the neckline here, it’s possible to say the uptrend could continue because the chart can initiate an uptrend movement to fill in its “inducement” structure formed from the previous decline.

Coin Engineer, which was designed to develop blockchain and create applications. This platform provides infrastructure for smart contracts and decentralized applications (dApps). Coin Engineer is the cryptocurrency used on this protocol and enables transactions to be carried out within the platform’s ecosystem. Coin Engineer focuses on scalability, speed, and ease of use features, aiming to allow developers and users to create and use blockchain-based applications.

Besides, our target price determined should the “Adam and Eve” formation work out corresponds to the price band between 5.63 and 6.15. Considering there are no significant resistance points on the chart upon surpassing the neckline and the path is clear indicates the likelihood of rapid upward movements.

There is an excessive liquidation accumulation in Near and the market may shift to spot liquidation purchases. These movements can happen with sudden and small retracements. However, for the uptrend to continue, market makers will kick high leverages out of the game, which means small-scale retracements could be inevitable.

This situation could be bad news for those in the position, but those not in the position can take advantage of these declines and costs Near a lower fiat.

Near Protocol Market Data

Market Cap: $3,395,903,682

Market Cap Volume (24 hours): $688,674,906 (%203.29 increase)

Market Cap Volume / Market Cap (24 hours): 23.33%

Circulating Supply: 1,004,666,471 NEAR

Total Supply: 1,000,000,000 NEAR

Fully Diluted Market Cap: $2,938,035,725

Near Protocol Token can easily be bought and sold on Global Exchanges such as Binance, BitGet, Kucoin, Mexc,Huobi, and Gate.io. Also, if you wish to benefit from the discount link defined exclusively for Coin Engineer followers, you can use our referral code by clicking on the exchange you want to register for.

The post Near Protocol Chart Analysis and Price Analysis! appeared first on Coin Engineer.

You might like: What is Shiba INU ($SHIB)?

We are evaluating the chart formation by Shiba Inu, market trends, trading volume, and possible future moves. SHIB seems to be about to complete a double bottom formation on the daily chart. It is currently at the neckline and if it can break this line upwards and close above it, an uptrend may begin. However, we have an order block at the 0.011 level just above the neckline, and this is an important resistance point. This point may create some difficulties for SHIB and we may expect a small horizontal movement. If it manages to overcome this area, it can easily rise to the already targeted 0.014 level.

The MACD indicator is currently in a positive state and supportive of the rise. If the neckline is broken, we may start to see green volume blocks on the MACD indicator. Also, it currently seems to be in the volume accumulation phase.

The RSI indicator is also in a positive state and has managed to jump above the 70 level. Thus, our indicator, which is going from the rise to the descent, is in a state that will fully support the upward movement in the region.

Shiba Inu (SHIB) Market Data

Market Value: $6.03 billion (1.87% increase, ranking: #16)

Daily Trading Volume: $466.34 million (55.81% increase, ranking: #20)

Trading Volume / Market Value (24s): %7.73

Circulating Supply: 589.35 trillion SHIB

Total Supply: 589.59 trillion SHIB

Full Market Value: $6.03 billion

You can easily buy and sell SHIB INU Token from Global Exchanges such as Binance, BitGet, Kucoin, Mexc, Huobi, and Gate.io. If you want to take advantage of the discount link defined exclusively for Coin Engineer followers, you can use our referral code by clicking on the exchange you want to register.

Also, feel free to share your thoughts on the topic in the comments. Additionally, you can follow us on Telegram, YouTube, and Twitter for more real-time news and updates.

The post Shiba Inu Graphic Review and Price Analysis! appeared first on Coin Engineer.

HTX Exchange Continues to Burn Its Own Token

The exchange decided to set aside 20% of its revenue for burning HT, which shows that Huobi’s revenue for the third quarter is approximately 24.75 million dollars. Additionally the revenue generated by Huobi in the first two quarters of 2023 was 16.55 million dollars and 26.91 million dollars respectively.

You might like: JPMorgan Gives Estimated Time for Bitcoin ETF Approval

In the second quarter of 2023, the Huobi (HTX) platform burned 1,950,555 HT tokens. Thanks to this burning mechanism, the platform had burned a total of 298,940,224 HT as of July 15, 2023.

This move is part of HTX’s aim to decrease the total HT supply in circulation and increase the value of HT. The exchange has been regularly burning HT tokens since 2018, and they have burned a total of 301,002,441 HT tokens as of October 15, 2023. They recorded a deflation rate of 0.9718% in the third quarter of 2023.

Huobi’s burning mechanism involves setting aside 20% of its revenue for burning HT. This revenue includes transaction fees from spot transactions, future transactions, OTC transactions, interest from isolated margin loans, cross margin loans, OTC loans, withdrawal fees, and revenue from various services such as margin trading.

Also In the comment section, you can freely share your comments and  opinions about the topic. Additionally, don’ t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates instantly.

The post Huobi (HTX) Continues to Burn Its Own Token! appeared first on Coin Engineer.