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$DEAI Surges 25% As New Announcement Boosts Market Cap

$DEAI, a raising star in the decentralized AI space, is showing significant movement with its Fully Diluted Valuation (FDV) surpassing $290 million and a market cap of $28 million. A recent announcement from Zero1 Labs has fueled a 25% surge in $DEAI’s price over the past 24 hours. Several key factors are driving this growth: 1. ZERO new token emissions for the next 12-16 months: This means no additional $DEAI tokens will enter the market during this period, reducing the risk of dilution and potentially increasing the value of existing tokens. 2. No impact from venture capitalists: With no VCs involved, there is minimal risk of large sell-offs that could drive down the price. 3. Launch of the FHE-based EVM Cypher chain: Scheduled for early 2025, this innovative blockchain technology promises enhanced privacy and security features, further solidifying $DEAI’s position […]

Will Izuchukwu July 30, 2024

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IoTeX Emerges As Key Player In DePIN Market With $20 Billion Market Cap

IoTeX, a layer 1 blockchain optimized for Decentralized Physical Infrastructure Networks (DePIN), is becoming a pivotal narrative in the current cycle, boasting a market cap exceeding $20 billion. According to intotheblock, IoTeX provides a robust and open modular infrastructure for DePIN projects, equipped with a comprehensive suite of tools to develop fully decentralized and interoperable projects. IoTeX has shown substantial growth, now supporting around 564,000 addresses with balances, reflecting a steady increase in recent months. This is a significant rise from the previous bull cycle, where addresses surged from approximately 10,000 to over 250,000. https://twitter.com/intotheblock/status/1817898077384048654?t=_9e-Zia7TAQOD2gDkD-FJg&s=19 IoTex User Base Grows Significantly  Recently, IoTeX has witnessed a significant uptick in adoption rates, indicating a growing user base. This trend is evident from the spike in new addresses, which peaked at 1,500 daily this month—a 494% increase compared to the average at the […]

Will Izuchukwu July 30, 2024

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BNB Chain Reclaims Fourth Spot As Leading Cryptocurrency

Just hours after Solana surpassed BNB Chain in market capitalization, BNB Chain has reclaimed its position as the world's fourth-largest cryptocurrency. The rapid flip in rankings underscores the volatility and fierce competition within the crypto market. Adding to the excitement, the top MEMEcoin on BNB Chain, $WHY, has reached new highs. The token now boasts a liquidity of $18 million and a fully diluted valuation (FDV) of $129 million. In a notable transaction today, a newly created wallet withdrew 321 BNB (approximately $186,000) from Binance to purchase 628.3 billion $WHY at a price of $0.0000002944 each. https://twitter.com/lookonchain/status/1817074993903325282?t=v8snEiINBVc96F3I0Hk0-A&s=19 BNB Holder Deposits Huge Amount On Exchange In a contrasting move, a long-term BNB holder made a significant deposit. The holder, who has maintained their BNB for seven years, deposited their entire 3.85K BNB into Binance. This wallet, 0x1b9b, originally received 3.85K BNB […]

Will Izuchukwu July 27, 2024

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Warning: Sorta Finance Likely To Exit Scam On Arbitrum

Investors are urged to steer clear of Sorta Finance on Arbitrum amid strong indications of an impending exit scam. The protocol recently deactivated its Sorta Finance X account, raising serious red flags about its legitimacy. This scammer has a notorious history, previously stealing over $25 million through various scams, including Magnate, Kokomo, Lendora, Solfire, Crolend, and HashDAO. The current deployer address for Sorta Finance was newly funded, and the first address to interact with Sorta's contracts received 100 ETH from Tornado Cash, a known anonymity tool often associated with illicit activities. https://twitter.com/ChainAegis/status/1816673174186229788?t=k6R96I-A5Zx8HeOyEYm9Wg&s=19 Sorta Finance operates by forking Compound V2 on various EVM chains. Once the Total Value Locked (TVL) in the protocol reaches a significant amount, the scam operators typically pause withdrawals and borrowing, subsequently rugging all users. This method has been used effectively in their previous scams. To add […]

Will Izuchukwu July 26, 2024

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Babylon’s Staking Protocol: Pioneering Restaking On Bitcoin

Babylon's staking protocol, designed to support multiple chains, is making waves with its ambitious plans to implement restaking on Bitcoin. While restaking on Ethereum has been explored by teams like @eigenlayer and @symbioticfi, Bitcoin's lack of smart contracts poses significant challenges. However, the substantial market presence of Bitcoin, which comprises over 50% of the industry's market cap, makes this endeavor worthwhile. https://twitter.com/0xkrane/status/1816463519975461326?t=Z9Zs5mDbG6ydMFYNXN90Rw&s=19 If BTC restaking becomes viable, it could significantly reduce the bootstrapping costs for AVSs or restaking consumers. Additionally, it would provide more auditable, on-chain yield-generating options for Bitcoin, a first at scale. Babylon’s innovative use of Extractable One Time Signatures (EOTS) for slashing and the repurposing of their timestamping protocol for fast unbonding further highlight their technical ingenuity. Last Friday, Babylon and @SolvProtocol jointly opened an early pledge quota of 500 $BTC, which sold out in just two […]

Will Izuchukwu July 25, 2024

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Zircuit Completes Mainnet Funding Round With Top Investors To Boost Ecosystem Growth

Layer 2 project Zircuit has successfully completed its Mainnet funding round, securing investments from prominent names such as Mirana Ventures, Amber Group, Nomad Capital, and Robot Ventures. This new funding will enable Zircuit to accelerate the growth and activity of its ecosystem. Founded in 2022, Zircuit has already made significant strides, boasting a Total Value Locked (TVL) of over $2.9 billion, according to DeFiLlama data. This substantial amount is staked in the pre-mainnet staking program with various Liquid Staked Tokens (LSTs) and Liquid Restaked Tokens (LRTs). Zircuit aims to create the safest and most capital-efficient liquidity hub for these high-value liquid restaked assets. https://twitter.com/WuBlockchain/status/1815559972207710275?t=bs3Pz65uh0rm8u9Cvv4y3w&s=19 The project has also garnered support from other influential backers, including Dragonfly Capital, Pantera Capital, and BitMex co-founder Arthur Hayes, known on Twitter as @CryptoHayes. With this impressive lineup of investors and a robust staking program, […]

Will Izuchukwu July 24, 2024

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WazirX Halts Trading After $230 Million Exploit, Offers Bounty For Recovery

Indian cryptocurrency exchange WazirX has paused all trading activities following a massive $230 million hack. https://twitter.com/WazirXIndia/status/1815004031561220352?t=nQ44hesdmDOXDJk10zWXBg&s=19 In a bid to recover the stolen funds, the exchange is offering a reward of up to 10% of the hacked amount, which could amount to $23 million, and $10,000 for information leading to the freezing of the assets. https://twitter.com/ibcgroupio/status/1815185545921798166?t=BMabugV1dGSCti1YeQImKg&s=19 Suspicions have fallen on North Korea’s notorious Lazarus Group, known for its complex cyber heists, making the recovery process particularly challenging. WazirX Exploiter Moves Ethereum  Recent on-chain analysis has revealed that the WazirX exploiter is actively moving Ethereum ($ETH). In the last 20 minutes alone, the hacker has transferred 16,345 $ETH, valued at $56.88 million, to two new wallets identified as “0x58d” and “0x668”. Currently, the exploiter holds approximately 43,962 $ETH, worth $153 million, spread across various wallets. https://twitter.com/spotonchain/status/1815310961462632481?t=fWOUJVhMbQ-fPhV2JwRdVg&s=19 In addition to $ETH, the […]

Will Izuchukwu July 22, 2024

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Gods Unchained: A Rising Star In The Play-to-Earn Gaming World

Gods Unchained, a free-to-play tactical card game that grants players true ownership of their in-game items, is making waves in the gaming and cryptocurrency communities. The game's native token, $GODS, has experienced a remarkable surge, increasing by over 140% from its October 2023 low this month. According to data from @Intotheblock, 42% of $GODS holders are currently in profit, while 10% of active addresses are also profitable. This resurgence is accompanied by a dramatic rise in transaction volume, soaring from $29.98k to over $6.4 million this week. https://twitter.com/felixreads/status/1814262588647072216?t=B9RM6KinbdUSP_zJIrytCA&s=19 The NFT collection of Gods Unchained has also seen significant success, ranking in the top 4 by sales volume on Cryptoslam.io over the past seven days. This achievement underscores the growing popularity and value of the game’s digital assets. Gods Unchained stands out in the play-to-earn sector, offering both engaging gameplay and […]

Will Izuchukwu July 20, 2024

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LIFI Protocol Suffers $9.7M Attack, Urgent Call For Users To Revoke Approvals

LIFI Protocol (@lifiprotocol) recently fell victim to a significant attack, resulting in a loss of approximately $9.7 million. The stolen assets included 6,335,889 USDT, 3,191,914 USDC, and 169,533 DAI. These funds were swiftly converted into 2,857 ETH ($9.7 million) and dispersed across multiple wallets. https://twitter.com/lookonchain/status/1813220220238242249?t=psKTbyIJwO7aLIf78b7zaw&s=19 In light of this incident, users are urgently advised to revoke approvals for the following addresses: - 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae - 0x341e94069f53234fE6DabeF707aD424830525715 - 0xDE1E598b81620773454588B85D6b5D4eEC32573e - 0x24ca98fB6972F5eE05f0dB00595c7f68D9FaFd68 Cyver's alert system has detected additional suspicious transactions involving LIFI Protocol on the Arbitrum (ARB) network. Consequently, it strongly recommends users revoke their approvals for the address 0x1231deb6f5749ef6ce6943a275a1d3e7486f4eae to safeguard their assets. https://twitter.com/CyversAlerts/status/1813196692235210954?t=RXF4fZ0wjUPBujW3rno_hg&s=19 Total Loss Comes In At Around $10 Million  The total loss across different chains is now approaching $10 million, highlighting the urgent need for users to take precautionary measures. LIFI Protocol and security experts are working diligently to […]

Will Izuchukwu July 18, 2024

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Major GHO Whale Strategy Could Impact Market Dynamics

The largest GHO whale has minted approximately 17.5% of all circulating GHO, equating to 15.5 million GHO. This whale's strategy involves using sDAI as collateral to mint GHO and subsequently depositing the minted GHO into the safety module pool to earn both GHO and AAVE incentives. With the current sDAI DSR at 8% and the added incentives from the GHO program, this whale effectively earns an additional 20% APR by depositing into the safety module, making it a profitable strategy for their $22 million worth of stablecoins. This strategy is noteworthy for several reasons: 1. Market Impact: The whale's actions could significantly influence market dynamics. If the DSR or GHO incentives were to decrease, the whale might close their position. This could lead to a sudden influx of GHO in the market, potentially affecting the circulating supply and market liquidity. […]

Will Izuchukwu July 16, 2024

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