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Terra Classic (LUNC) has been rally ing over the past week, surging more than 181% due to intense buying pressure. Further fueling interest in LUNC, Binance just completed its 16 th token burn, removing 3.9 billion LUNC from circulation. As LUNC keeps drawing attention, traders are also watching new gaming altcoin , TG.Casino (TGC), which has raised over $3.3 million in presale. Binance burns help boost Terra Classic price to $0.00026 On Dec. 1, Binance executed its 16 th token burn of LUNC, covering trading fees accumulated on the exchange from Oct. 31 to Nov. 29. Binance has burned over 43 billion LUNC from fees to date, significantly reducing the circulating supply. The recent burn of 3.9 billion tokens is significantly higher than November’s burn of 760 million tokens, the lowest amount yet. You might also like: Terraform Labs’ strategic move fuels USTC and LUNC rally  This surge in the burn rate correlates with a massive spike in LUNC trading volumes on Binan...

Proponents say PayPal’s PYUSD could see Ethereum become the money layer of the internet, while opponents argue that it’ll act like a poorly designed CBDC. Paypal’s new Ethereum-based stablecoin, PYUSD has been seen as bittersweet news for the crypto community . While it could finally see Ethereum find its place in mainstream adoption, it could also spell trouble for de central ization and personal control of assets, warns the community . The new stablecoin, Paypal USD, was launched on Aug. 7 and is issued by Paxos Trust Co. — the firm behind Binance USD (BUSD). It’s built on Ethereum and “designed for digital payments and Web3,” with the firm saying it will soon be available to United States customers. The launch has been seen as a boon for Ethereum adoption. Ethereum bulls Anthony Sassano and Ryan Sean Adams believe the ERC-20 stablecoin will push the blockchain closer towards becoming the money layer of the internet. This is the Ethereum contract address for PayPal's stablecoin....

Positive Ethereum and Arbitrum network developments and the eventual improvement in crypto investor sentiment could lend a boost to ARB price. While Arbitrum’s governance token ARB has been in a consistent downturn since the airdrop in late March, its ecosystem shows healthy growth.  A recent Nansen report shows that Arbitrum’s activity improved after the airdrop, stabilizing “at a level higher” than before the airdrop. The daily active users, gas fees and transaction count maintained consistent higher levels on the Ethereum rollup since April 2023. The gap between the number of active users on Arbitrum and Optimism widened after the Aribtrum airdrop, closing in on Ethereum. Daily Active Users of Arbitrum, Ethereum and Optimism (past 6 months). Source: Nansen The trading volume on Arbitrum-based decentralized exchanges paint a similar picture, showing an evident rise in volume after the airdrop. The trading volume of DEXes on Arbitrum. Source: DeFiLlama Moreover, Nansen’s report sh...

At a time when USDT is touching new market cap highs, the other stablecoins are struggling to keep their market dominance. Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance. The new ATH market cap for the USDT stablecoin comes in a year when other stablecoin issuers are struggling to remain afloat due to regulatory ire. The same was pointed out by cryptocurrency exchange Binance’s CEO Changpang Zhao aka CZ. Tether USDT market cap chart. Source: Coinmarketcap CZ in a quote tweet drew attention towards BUSD, a Binance stablecoin issued by Paxos. The Binance CEO said that “BUSD was a fully regulated stablecoin that was ‘capped’ by NYDFS at a $23 billion and currently sits at a $5 billion market cap and since then USDT has seen tremendous growth.” BUSD, a fully regulated stablecoin, was "capped" (no new minting) by NYDFS at $23b. Now at $5b market cap. Since then, USDT has seen t...

MetaMask stated its security team is working with others in the Web3 wallet space to uncover the source of this exploit. Cryptocurrency wallet provider MetaMask has denied claims that an exploit of its wallet is the cause of a “massive wallet draining operation" that has claimed over 5,000 Ether (ETH). On April 18, MetaMask tweeted in response to a series of tweets posted on April 17 by Taylor Monahan, the founder of Ethereum wallet manager MyCrypto, who explained an unidentified wallet-draining exploit has stolen over $10.5 million in crypto and nonfungible tokens (NFTs) since December 2022. “Recent reporting on [Monahan’s] thread has incorrectly claimed that a massive wallet-draining operation is a result of a MetaMask exploit,” MetaMask said. Recent reporting on @tayvano_’s thread has incorrectly claimed that a massive wallet draining operation is a result of a MetaMask exploit. This is incorrect. This is not a MetaMask-specific exploit. https://t.co/MiJ3QgslMy — MetaMask (@M...