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Kelvin Munene

Kelvin is a tech-savvy wordsmith and a passionate crypto enthusiast. With a knack for chess, football, and Defy, he aims to spread the gospel of decentralization through his compelling and insightful writing. Join him on his journey to bring the benefits of blockchain to the masses

Posts by Kelvin Munene

A suspected exit fraud has investors of the Yearn.Finance governance token YFI on edge. There was a decline of nearly $300 million in market capitalization, according to statistics from CoinMarketCap, as the price of YFI plummeted dramatically. The YFI token dropped from $15,570 to $8,654 within a short duration. The token, despite this, is up 101% in the last 30 days. Another weekend of FUD in the crypto world has been provoked by the sell-off. Some Twitter users have speculated that the creators themselves hold 10 wallets containing half of the total token supply. Etherscan data, however, suggests that a subset of these holders are likely just wallets at cryptocurrency exchanges. Substantial YFI Transferred Lookonchain, a blockchain data analytics startup, has released some analysis on the YFI price drop. One "0x48f9" address was revealed to have transferred millions of dollars across several trading platforms. The address sent about 446 YFI, valued around $5.8 million, in ETH to several exchange addresses. According to data provided by Intotheblock, the monthly rate of whale outflow is lower than the monthly rate of whale inflow. There was a 158% rise in the large holder's inflow over the previous month, while the large holder's outflow was 105%. An automated trading solution for decentralized financial (DeFi) markets is provided by the Yearn.Finance protocol. Andre Cronje, an entrepreneur and Ethereum developer, released the protocol in July of 2020. According to CoinMarketCap, YFI is trading at $9743, down 37% in the last 24 hours at the time of writing. Moreover, the trading volume is up 29.57%. Highlighted Crypto News Today: XRP Faces Selling Pressure as Market Momentum Takes a Downturn

Altcoins Depict Red Blood: Crypto Market in Bloodshed Right Now

The cryptocurrency market is in turmoil, with a significant 7% drop pushing it below the $1 trillion threshold. It’s a real massacre, partly precipitated by Securities and Exchange Commission (SEC) measures. Amid this turmoil, Bitcoin, the reigning champion, dropped 3.75% to $25,500. while Ethereum, the runner-up, plummeted 6.9% to nearly

June 11, 2023 2 mins read
PawSwap

PawSwap Demonstrates Communal Power, Boosts Engagement through CertiK’s Skynet Voting

Profoundly committed to its followers, PawSwap recently expressed gratitude to its vibrant community. They enthusiastically participated in voting on CertiK’s Skynet community pages. The PawSwap team firmly believes such engagement underpins the strength and success of their mission. Thank you #PawSwap Community for the continued engagement and votes on @CertiK's

June 10, 2023 2 mins read
USDC Revolutionizes Transactions with Native Integration on Arbitrum

USDC Revolutionizes Transactions with Native Integration on Arbitrum

USDC, the leading stablecoin issued by Circle, has made a significant breakthrough by becoming available natively on Arbitrum, a prominent layer 2 scaling solution for Ethereum. This development eliminates the need for bridging and offers developers and users seamless access to USDC on the Arbitrum network. 1/ Launch alert 🚨

June 9, 2023 3 mins read
IOG Dismisses SEC's

IOG Dismisses SEC’s Complaints as Factual Missteps; Asserts ADA is Not a Security

Input Output Global (IOG) recently acknowledged the U.S. Securities and Exchange Commission’s (SEC) claims. However, they firmly state that these accusations, which involve the Cardano network and its native token ADA, have no basis in truth.  IOG emphasizes that this situation will not affect their operations. Moreover, they insist unequivocally

June 8, 2023 2 mins read
Binance

Binance.US Streamlines Crypto Trading, Halts OTC Services Amid Market Shifts

In an effort to streamline operations, Binance.US announced it would cease support for certain advanced trading pairs and pause its Over-The-Counter (OTC) trading portal. The changes, which affect a broad spectrum of crypto pairs tied to USDT, BTC, and BUSD, will come into effect from 9 a.m. PDT on June

June 8, 2023 2 mins read
Jim Cramer's Predictions Defied as Bitcoin Price Witnesses Surge

Binance SEC Controversy: Jim Cramer Sounds Alarm on Crypto’s Future

Binance Holdings Ltd., BAM Trading Services Inc. (Binance’s U.S. subsidiary), and founder Changpeng Zhao have all been accused of misconduct by the United States Securities and Exchange Commission (SEC) recently. These claims include various points, such as alleged securities law breaches and a lack of openness. These allegations have cast

June 6, 2023 2 mins read
Polygon Introduces AI Guide Powered by ChatGPT to Support Web3 Enthusiasts

Polygon Joins Taurus for Revolutionary Tokenized Asset Trading

In a pioneering stride for blockchain infrastructure, Taurus, the European digital asset titan, has integrated its system with Polygon, the Ethereum layer 2 networks. This ground-breaking move is poised to revamp the digital financial sphere, enabling financial institutions and corporate entities to issue tokenized assets more efficiently. Unleashing the Power

June 3, 2023 2 mins read
Binance Announces Support for Terra Classic (LUNC) Upgrade

Binance Delists LUNC Futures after Automatic Settlement

Binance Futures, one of the leading cryptocurrency derivatives exchanges, has announced the closure and delisting of the LUNC Perpetual Contract.  The closure will be accompanied by an automatic settlement of all positions, ensuring a smooth transition for traders. This decision is part of Binance’s continuous efforts to optimize its product

June 2, 2023 2 mins read
Injective

Injective Protocol’s Avalon Mainnet Upgrade Boosts DeFi Standards

In a notable breakthrough, Injective Protocol has completed the Avalon Mainnet Upgrade, marking a substantial milestone in its ongoing evolution. The highly anticipated upgrade ushers in robust scalability optimizations, enhancing the platform’s capability to handle increasing network demands. The Avalon Mainnet Upgrade is complete to bring you the most performant

June 2, 2023 2 mins read
Floki Inu

Floki Joins Forces with AliExpress; A New Era of Crypto Shopping

Floki enthusiasts have cause to rejoice, as the popular cryptocurrency, FLOKI, has been linked with AliExpress as a “payment option.” According to the announcement, AliExpress provides users with an exciting option to “shop with FLOKI through Shopping.io,” which allows users to utilize FLOKI to make purchases on AliExpress. Further, the

June 1, 2023 2 mins read