Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Kraken pauses deposits for Monero, Gemini has filed to list on Nasdaq under ticker GEMI, revealing steepening losses ahead of its IPO. Meanwhile, traders are showing greater hesitation to buy the dip in Ether compared to Bitcoin.
Kraken temporarily halts Monero (XMR) deposits after 51% takeover
Kraken, a crypto exchange, announced the temporary suspension of Monero deposits on Friday, following a 51% attack on the network by a single mining pool.
Qubic, an AI layer-1 blockchain, said that it achieved dominance over the Monero network on Monday by commanding a majority of the network’s hashrate, the total amount of computing power dedicated to securing a blockchain network. Kraken wrote:
“As a security precaution, we have paused Monero deposits after detecting that a single mining pool has gained more than 50% of the network’s total hashing power. This concentration of mining power poses a potential risk to network integrity.”
The 51% attack sent shockwaves through the Monero community, sparking an online debate about network incentives and security.
Winklevoss’ Gemini files for Nasdaq listing after strong Bullish debut
Gemini Space Station, the crypto exchange and custodian founded by Cameron and Tyler Winklevoss, has filed with the US Securities and Exchange Commission to list its Class A common stock on the Nasdaq Global Select Market under the ticker GEMI.
Founded in 2014, Gemini operates a regulated crypto exchange, custody service, and a range of blockchain-based products, including the US dollar-backed Gemini Dollar (GUSD) stablecoin and a crypto-rewards credit card, the platform said in the filing submitted on Friday.
According to its filing, the IPO will mark the first time its shares are publicly traded, with pricing expected between an undisclosed range. The offering will be led by a syndicate of major banks, including Goldman Sachs, Morgan Stanley, Citigroup and others.
Post-offering, Gemini will have a dual-class share structure, including Class A stock carrying one vote per share and Class B stock carrying ten votes. The Winklevoss twins will retain all Class B shares, ensuring majority voting control and qualifying Gemini as a “controlled company” under Nasdaq rules.
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Ether has ‘slightly more bullish path’ than Bitcoin: Santiment
Ether holds a slight edge over Bitcoin in the short-term as social media chatter around the cryptocurrency is less overheated, says sentiment platform Santiment.
“The $ETH crowd hasn’t shown nearly as much bullishness despite significantly better performance over the past 3 months,” Santiment said in an X post on Friday amid the ETH/BTC ratio, which measures Ether’s relative strength against Bitcoin being up 32.90% over the past 30 days, according to TradingView.
Both Bitcoin and Ether have pulled back since Thursday, when Bitcoin reached a new all-time high of $124,128 and Ether came close to reclaiming its 2021 all-time high of $4,878.
