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Cryptocurrency Arbitrum Rises More Than 5% In 24 hours

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Cryptocurrency Arbitrum Rises More Than 5% In 24 hours

Over the past 24 hours, Arbitrum’s ARB/USD price has risen 5.3% to $0.81. This continues its positive trend over the past week where it has experienced a 6.0% gain, moving from $0.75 to its current price. As it stands right now, the coin’s all-time high is $2.39.

The chart below compares the price movement and volatility for Arbitrum over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Arbitrum’s trading volume has climbed 53.0% over the past week, moving in tandem, directionally, with the overall circulating supply of the coin, which has increased 3.56%. This brings the circulating supply to 3.34 billion, which makes up an estimated 33.39% of its max supply of 10.00 billion. According to our data, the current market cap ranking for ARB is #36 at $2.70 billion.

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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Biden's Exit Spurs Bullish Outlook? Citi Upgrades Coinbase Amid Favorable Crypto Regulatory Shifts – Coinbase Glb (NASDAQ:COIN)

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Biden's Exit Spurs Bullish Outlook? Citi Upgrades Coinbase Amid Favorable Crypto Regulatory Shifts – Coinbase Glb (NASDAQ:COIN)

Investment bank Citi upgraded shares of cryptocurrency trading platform, Coinbase Global Inc. COIN, from neutral to buy, anticipating an improved regulatory landscape for cryptocurrency assets.

What Happened: Analysts led by Peter Christiansen raised their guidance on the cryptocurrency-linked stock from neutral at $260 to a buy with a target of $345, according to a Bloomberg report Tuesday.

“Shifts in the U.S. Election landscape and the Supreme Court’s overturning of the long-standing Chevron precedent has changed our view on Coinbase’s regulatory risks,” Christiansen wrote.

The analyst added that the upcoming U.S. elections are taking a positive pivot toward the cryptocurrency industry in the wake of President Joe Biden‘s withdrawal from the presidential race. 

“President Joe Biden’s time in office had led many to conclude that the potential for pro-cryptocurrency legislation would fare better under a different administration.”

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Furthermore, the analyst believes that the Supreme Court’s decision to remove the Chevron Defence Doctrine, which limits regulators’ power, could benefit Coinbase in its ongoing legal tussle with the SEC.

See Also: Elon Musk Agrees with DogeDesigner: Funding For Trump-Supporting Super PAC Is ‘Far Below’ $45M A Month So Far

Why It Matters: Coinbase is one of the most high-profile cryptocurrency-associated stocks on Wall Street, with a market capitalization of $63.26 billion.

Shares of the company have jumped nearly 70% year-to-date, coinciding with the broader recovery in the cryptocurrency market. This follows a lackluster performance during the 2022-23 bear market when the stock failed to reach $100.

Coinbase was hit by an enforcement action by the SEC on charges of operating an unregistered securities exchange. In response, the cryptocurrency exchange has also sued federal regulators, accusing them of hindering the industry’s growth.

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Price Action: Shares of Coinbase closed 2.38% lower at $258.83 during Tuesday’s regular trading session, according to data from Benzinga Pro. 

Photo by rafapress on Shutterstock

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New Spot Ether ETFs See $1 Billion of Trading Volume on First Day

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New Spot Ether ETFs See  Billion of Trading Volume on First Day

Key Takeaways

  • The nine spot ether ETFs that launched Tuesday were down around 1% after their first day of trading.
  • The collective trading volume of the ETFs was just over $1 billion, with the Grayscale Ethereum Trust seeing the most action. The fund held more than $9 billion worth of ether prior to its conversion to an ETF.
  • Spot bitcoin ETFs saw $4.66 billion worth of volume on their first trading day in January.

Ether, the underlying cryptocurrency of the Ethereum crypto network, and its associated spot exchange-traded funds moved slightly lower on the first day of trading for the new investment products.

Shortly after the market’s close, Ether traded a bit under $3,500 according to CoinDesk, edging just lower over the previous 24 hours. The nine spot ether ETFs were down roughly 1% apiece.

The ETFs saw combined trading volume of just over $1 billion, according to The Block. The preexisting Grayscale Ethereum Trust (ETHE) saw the most activity at $456 million worth of trades. The Grayscale Ethereum Trust held more than $9 billion worth of ether prior to its conversion to an ETF.

Of the new funds, BlackRock’s iShares Ethereum Trust (ETHA) saw the highest volume at at $240 million, followed by the Fidelity Ethereum Fund (FETH) at $136 million.

The day’s spot ether ETF volumes were about 21% of the $4.66 billion seen on the first day of spot bitcoin ETF trading back in January, according to Bloomberg analyst James Seyffart. The spot ether ETF market was more active than the futures-based ether ETFs, which saw limited activity on their debut in October.

Seyffart on the social network X noted that the spot bitcoin ETFs’ $4.66 billion of day one trading volume correlated with $655 million of inflows. At a similar ratio, that would indicate roughly $140 million of inflows for the spot ether ETFs.

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Tonkeeper: TON Network Native Cryptocurrency Wallet – Blockonomi

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Tonkeeper: TON Network Native Cryptocurrency Wallet – Blockonomi

Ever since its launch in 2022, the TON network has risen to prominence in the blockchain space, becoming one of the most dominant blockchains out there.

Today, its token stands as the 8th biggest cryptocurrency by market capitalization, a feat that has earned all projects related to it with a massive boost.

One such project is Tonkeeper, the go-to wallet for most TON network users and one of the most versatile wallets any blockchain has to offer.

As a non-custodial crypto wallet, Tonkeeper already comes with the myriad of benefits that decentralized wallets have to offer.

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These include full control over one’s private keys, enhanced security, and the ability to interact directly with decentralized applications (dApps) without intermediaries.

In addition to these, Tonkeeper goes beyond the basics to offer a comprehensive suite of tools tailored specifically for the TON ecosystem.

One of the most important elements that stand out about Tonkeeper is its development as an open-source project. This means that any user is able to audit the entirety of its code, ensuring transparency and fostering trust within the community.

It also means that developers all over the world can contribute security upgrades and new features that can be easily integrated after being reviewed.

The result of this design philosophy is a TON-native crypto wallet that is not only easy to use and versatile but also quite powerful. Tonkeeper is not only accessible via a browser extension as most web-based wallets and an iOS/Android app like mobile wallets but also through Telegram, an instant messaging service expected to hit 1 billion users this year.

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Who is Behind Tonkeeper?

Tonkeeper is developed by TON Apps, a 23-member team that has been developing decentralized apps since its founding in 2021. In addition to Tonkeeper, the team has also developed TonAPI, TONViewer, and TONConsole. These three solutions allow individuals, businesses, and investors looking to interact with the TON ecosystem at a deeper level.

Former VK Lead Architect and Stellar Development Foundation Protocol Architect Oleg Andreev is currently serving as TON Apps’s Chief Executive Officer, leading the company’s effort to become a major player in the TON ecosystem.

TON Apps co-founder Vladimir Makhov also plays an active role in the company, using his experience as a seasoned entrepreneur and 6-time founder to establish partnerships within the space. Makhov is a big believer and player in the TON ecosystem, currently running two other projects around the TON blockchain.

The Dubai-based company has managed to achieve some impressive statistics over the past couple of years, reaching over 24 million active users and 240 million sessions each year, all across 240 countries. When it comes to Tonkeeper, the company has reported that it has been installed over 25 million times already.


Tonkeeper Features

Let’s talk about the features Tonkeeper has to offer its users and how these set it apart from other wallets. These features include those that we have come to expect from any crypto wallet, such as send/receive, token swapping, and NFT storage, as well as others a little bit more exclusive like staking, NFT marketplace integration, QR payments, and built-in DEX.

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Two features that stand out are Tonkeeper’s subscriptions, Domains, and Fragment features, which we will discuss in more detail in a moment. These are features that are not very common in the world of crypto wallets but will certainly become more appealing as the ecosystem grows.

Send/Receive/Swap Cryptocurrency

These are the bread and butter of any cryptocurrency wallet and as such, Tonkeeper possesses such a feature. By using Tonkeeper, users will be able to transact with popular cryptocurrencies such as USDT, GLINT, TON, and many more, whether it is by transferring or swapping them.

However, what makes this special in Tonkeeper, is that the wallet has been offering gasless transfers on specific coins like USDT and Notcoin. This makes this wallet a great option for users looking to avoid the costly transaction fees associated with networks like Ethereum, all without sacrificing the fast settlement.

Any fees associated with sending or swapping cryptocurrency with Tonkeeper are paid by using the wallet’s “Battery”. This off-chain account is used for token swaps, token transfers, and NFT transfers, using a system of “charges” that makes it easy to know how much is being paid for each transaction. This battery can be charged with as little as 3 USDt or 300 NOT by transferring on-chain or paying via the Android/iOS app stores.

 

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Pay/Subscribe with Cryptocurrency

As a wallet designed to be as versatile as possible, Tonkeeper is all about covering as many use cases as it can. This means having functionalities that can be used on a daily basis, such as online and QR payments. This feature makes Tonkeeper quite a good option for those who aim to or have made crypto an integral part of their daily lives. Buying goods and paying for services is as easy as scanning a QR or completing the payment within the app.

Tonkeeper especially shines when it comes to paying for subscriptions, as it comes with a subscription management tool. This allows users to monitor their active and expired subscriptions, providing granular control over each of them.

Staking

One of the biggest benefits of cryptocurrency is the possibility to earn on your holdings passively. To achieve this, staking has become one of the most popular tools at the moment and as such, Tonkeeper supports it. The staking feature allows users to stake their TON to start earning rewards, adding value to their crypto experience without requiring them to take any further steps.

Decentralized Apps Integration

Cryptocurrency is becoming more popular by the day and as such, new tools and apps are created every hour. Apps running on the TON network are available to Tonkeeper users looking to make their experience more personal and customized, all without leaving their wallets.

One such example is TON Diamonds, a marketplace for digital artists and collectors looking to create/collect high-quality assets while using the benefits of technologies like NFTs and blockchain. Tonkeeper users can interact easily with the marketplace, storing their NFTs directly in their wallets and easily accessing them.

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Domains/ Fragment

The TON domains feature allows Tonkeeper users to assign a human-readable name to their wallets, similar to how a website URL or email address works. This makes it easy to share a wallet address with other people, removing the complexity and anxiety caused by the unreadable string of characters that wallet addresses are.

Similarly, Fragment allows users to buy and sell Telegram usernames and anonymous numbers, something that is becoming increasingly popular as Telegram and privacy concerns grow around the globe.


STON.FI

Tonkeeper users can access ston.f directly from their wallet. This cross-chain DEX offers access to thousands of cryptocurrencies across multiple networks, all with instant transaction settlement, low slippage, and no fees. This, combined with the staking capabilities, makes it easy for investors to access the best deals at any time, maximizing their profits at every step of their journey.

Bug Bounty Program

To keep its users’ funds even more secure and their experience at its best, Tonkeeper has created a bug bounty program. This program allows anyone to report issues with Tonkeeper to the support team, get them fixed by the developers, and get rewarded.

The rewards for Tonkeeper’s bug bounty program vary based on the severity and impact of the reported issues. While the exact reward structure is not openly published by Tonkeeper, these are usually high enough to incentivize security researchers and users to actively look for and report potential vulnerabilities.

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Conclusion

Tonkeeper is a feature-rich, user-friendly, and secure wallet that will cater to the needs of most cryptocurrency users, no matter their level of experience. The range of functionalities and widespread availability makes it easy to take advantage of, no matter where you are or what you need to do.

Need to check on your crypto, change your investment, pay your subscription to your favorite game, or anything else? No problem, the Telegram, browser, or mobile integration has got you covered.

The bug-bounty program and the open-source nature of Tonkeeper, help the wallet keep up to date with the latest security practices and threats, something essential in any financial product. In addition to this, being non-custodial also means that users are in control of their funds at any given time.

For users looking to engage with the TON network, whether for simple transactions or more complex decentralized finance activities, Tonkeeper offers a comprehensive solution that balances functionality with ease of use.

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