ApeX Launches APEX Token Buyback Program
ApeX Protocol has announced the launch of an APEX token buyback program, with an initial capital injection of $12 million. Starting next week, 50% of ApeX protocol's daily revenue, alongside the committed $12 million, will be used to repurchase APEX tokens from the open market. This allocation will gradually increase, eventually reaching 90% of total revenue. All repurchased tokens will be transferred and locked to an on-chain public address, fully visible to the community.
Significant Ethereum Transfers from OKX
Onchain Lens monitored two newly created wallets withdrawing 5830 ETH, worth $24.08 million, from OKX in the past 24 hours. These large transfers raise questions about the motivations behind these new addresses.
Hypurr NFT Floor Price Rises
The floor price of Hypurr NFTs has reached approximately $62,000, with a 24-hour trading volume of around $38.48 million. #2681 was sold at the highest price so far, 9999 HYPE, or approximately $466,000. Address 0xb71...3bc5c is the top individual holder, owning 13 NFTs.
Babylon Proposes BABY Token Inflation Reduction and BTC-BABY Co-Staking
The Babylon community is proposing to reduce the BABY token inflation rate by approximately 30%, from 8% to 5.5% annually. The new rate would be allocated as follows:
- 1% to Bitcoin (BTC) stakers.
- 2% to BABY stakers.
- An additional 2.35% to BTC and BABY co-stakers as a joint staking reward.
- A small percentage to contributors to transaction validation.
Additionally, Babylon proposes introducing a BTC-BABY co-staking function to encourage BTC stakers to also stake BABY, enhancing network security.
Impact of These Developments
These developments signal ongoing dynamism in the cryptocurrency market. Buyback programs like ApeX's can boost token value. Proposals to adjust tokenomics like Babylon's aim to improve long-term sustainability. Large Ethereum transfers raise interest in market movements. And Bitcoin money laundering cases, like the one in London, serve as a reminder of the importance of regulatory compliance.
Bitcoin Money Laundering Trial in London
A trial concerning one of the UK's largest Bitcoin money laundering cases is set to begin in London. The trial will involve testimony from victims in China via video link, as part of judicial cooperation between the two countries.
Firedancer Proposal to Remove Solana Block Limits
Jump Crypto's Firedancer team is proposing to remove the current Solana compute unit limit per block (60 million CU) after the Alpenglow upgrade. The goal is to improve network efficiency.
Bitcoin Address Activated After 11.9 Years of Dormancy
An address containing 400 BTC was activated after 11.9 years of dormancy. The value of these Bitcoins is currently estimated at around $44.32 million.
Large Token Unlocks Coming
Cryptocurrencies SUI, EIGEN, ENA, and OP will experience significant token unlocks in the coming week, with SUI alone unlocking approximately $137 million worth of tokens.
Other Updates
- Falcon Finance: FF token claim window opening September 29th.
- Hyperliquid: Permissionless spot quote assets launching on mainnet, USDH is the first asset enabled.
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