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News

Top Performing Cryptocurrencies in the First Half of 2024

While spot bitcoin exchange-traded funds (ETFs) stole the spotlight in the digital asset world during the first half of 2024, several lesser-known cryptocurrencies also attracted significant attention. According to CoinGecko, the total market value of all cryptocurrencies surged by $661 billion in the first half of the year, with bitcoin alone contributing $409 billion to this increase. Forbes recently highlighted the top ten best-performing cryptocurrencies for the first half of 2024: 1. Dogwifhat: Leading the pack with an impressive 1,306% increase in value, Dogwifhat's market capitalization now stands at $2.1 billion. 2. Pepe: Up by 815%, Pepe has reached a market cap of $5 billion. 3. Artificial Superintelligence Alliance: This cryptocurrency saw a 545% rise, bringing its market cap to $3.6 billion. 4. Floki: With a 392% increase, Floki's market capitalization is now $1.6 billion. 5. JasmyCoin: Up by 343%, […]

Will Izuchukwu July 16, 2024

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News

USDT’s Market Dominance Slips Amid Rising Competition And Regulatory Challenges

This year, Tether's dominance on centralized exchanges (CEXs) has slipped from 82% to 74%, reflecting the growing competition and regulatory challenges it faces. Despite USDT remaining the top stablecoin, its market share decline is a significant indicator of shifting dynamics in the stablecoin market. The introduction of competing stablecoins like FDUSD and the increasing demand for regulated options such as USDC are major factors driving this shift. USDC, in particular, has seen a notable rise, with its market share climbing to 12% by June. This growth is largely attributed to higher trading volumes on platforms like Binance, Bybit, and OKX, bolstered by the European Union's Markets in Crypto-Assets (MiCA) regulations. MiCA has created a more stringent regulatory environment, pushing major exchanges to delist non-compliant stablecoins like USDT for European users. This regulatory push has further accelerated the adoption of compliant […]

Will Izuchukwu July 13, 2024

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News

Compound Finance Website Compromised; CEO Resigns To Launch Legend DeFi Protocol

Compound Finance, a prominent player in the DeFi space, faced a security breach yesterday when its official website was hacked and replaced with a phishing site. Michael Lewellen, a security consultant for Compound DAO, confirmed the incident and advised users to refrain from interacting with the compromised website. Fortunately, the breach was limited to the website itself, and the Compound protocol's smart contracts remained unaffected, ensuring the safety of all funds stored within the protocol. https://twitter.com/LewellenMichael/status/1811303839888261530?t=UoD7WtSzCoD6ce0f1zWxHA&s=19 In response to the breach, Compound CEO Jayson Hobby announced his resignation today. Hobby, who had been with Compound since 2019, cited the incident as a catalyst for his decision. Alongside Compound CTO Geoffrey Hayes and Compound Vice President of Products Mykel Pereira, Hobby has launched a new DeFi protocol named Legend. https://twitter.com/jaysonhobby/status/1811079333974528498?t=F5vv7S9EcWi_1MOtXKKYgw&s=19 In a statement, Hobby expressed his aspiration to onboard the next […]

Will Izuchukwu July 13, 2024

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News

$ZKJ Launches New Staking Campaign With Promising Returns

$ZKJ is set to launch a new staking campaign, following the success of its previous round which saw a remarkable 144% APR in the first week. https://twitter.com/SamuelXeus/status/1810744888238977451?t=P_2zLV15oClJgm3p03wtUg&s=19 This initiative allows ZK provers to stake their $ZKJ tokens to participate in the zero-knowledge proof network, earning rewards for the proofs they provide. This staking mechanism underscores the importance of governance tokens within the @PolyhedraZK ecosystem. https://twitter.com/Paimon_xX/status/1811338406833594850?t=wT8bV9MgmcHnCdYhh013Iw&s=19 With the $ZKJ (formerly known as $ZK) staking program ending today, iCrypto.ai has observed significant deposits of $ZKJ back onto centralized exchanges (CEX), particularly OKX. Participants in the staking program over the past month will be rewarded with $ETHFI, $CYBER, and $ID tokens. $ZKJ Price Action To Monitor  In the last month, $ZKJ has increased by 8%, showing resilience against the broader decline in $BTC. The token continues to trend upwards, forming a triangle pattern […]

Will Izuchukwu July 11, 2024

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News

Layer 2 Report | Q2 2024: Address Growth, Transactions, and Money Flow

I. Addresses 1. Total Unique Addresses by Chain Optimism leads the pack in Q2 2024 with 149.6 million unique addresses. Following behind are Base with 84.7 million and Arbitrum with 33.2 million addresses. 2. Daily New Unique Addresses Created by Chain Base, Optimism, and Arbitrum were the top three chains for the constant creation of new unique addresses throughout Q2 2024. Notably, Base experienced a spike on June 1, with 1 million new addresses created in just one day. Growth of New Unique Addresses in Q2 2024: - Highest growth rate: Blast (+175%) and Mantle (+160%) - Chain with the highest number of new addresses: Base (+16M) II. Transactions 1. Daily Transactions opBNB, Base, and Arbitrum led the way in daily transactions throughout Q2 2024, with the following daily averages: - opBNB: 4.7 million transactions - Base: 2.6 million transactions […]

Will Izuchukwu July 10, 2024

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News

SSV Network Reaches New Milestone With Over 1,000,000 ETH Staked

SSV Network, a decentralized staking infrastructure, is redefining the resilience and robustness of Ethereum validators through its distributed validator technology (DVT). Achieving a significant milestone, over 1,000,000 ETH is now staked on the SSV network, underscoring its growing influence in the blockchain space. Launched on the mainnet approximately a year ago, SSV Network underwent extensive testing, auditing, and phased launches to ensure a secure and robust protocol. Today, SSV operates as a fully permissionless network, boasting over 700 operators spread across five continents. These operators utilize all available execution and consensus clients, showcasing the network's versatility and global reach. SSV Network is more than just a staking infrastructure; it offers a comprehensive suite of tools designed to support a diverse ecosystem of builders, protocols, and tooling. This suite provides developers with the necessary resources to integrate seamlessly with the network, […]

Will Izuchukwu July 10, 2024

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News

Crypto-Draining Group Pink Drainer Falls Victim To Address Poisoning Scam

Pink Drainer, a well-known group in the realm of crypto-draining, recently encountered a setback when it lost 10 ETH, valued at approximately $30,000, to an address poisoning scam. This type of scam involves perpetrators sending small amounts of cryptocurrency from a deceptive address that closely resembles the legitimate one, tricking the victim into sending funds to the wrong destination. https://twitter.com/Odyssey_web3/status/1810281888327565616?t=yZhsUH_hrW8637XzVILrhg&s=19 Despite Pink Drainer's recent announcement of retiring after reportedly siphoning off more than $85 million in crypto assets, other similar services such as Angel Drainer, Pussy Drainer, and Venom Drainer continue their operations unhindered. https://twitter.com/_TOBTC/status/1810204861566476784?t=4qL3HzrUaJJpCQzBbtnbRQ&s=19 Scammers Create Lookalike Wallet Addresses To Deceive Their Targets The fraudulent transaction was flagged by MistTrack, a monitoring service specializing in tracking suspicious activities in the blockchain. MistTrack explained that scammers create wallet addresses that mimic those of their targets, exploiting visual similarities to deceive […]

Will Izuchukwu July 9, 2024

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News

Solana’s Q2 2024 Report: Explosive Growth In Revenue and Ecosystem Expansion

Solana's Q2 2024 financial report showcases a period of remarkable growth and expansion for the blockchain platform. In this quarter, Solana's fees and revenue soared, generating over $26 million, a staggering increase of more than 42 times compared to the same period last year. This impressive growth highlights the platform's rising adoption and the increasing value users find in its services. The total trading volume of SOL also saw a significant surge, reaching $292 billion. This is nearly seven times higher than the trading volume in Q2 2023, underscoring the growing confidence and participation in the Solana ecosystem. The network and ecosystem metrics for Q2 2024 reveal further insights into Solana's expanding influence. The platform processed over 15.3 billion transactions, both vote and non-vote, indicating robust activity and engagement. Total Value Locked (TVL) on Solana's network hit $3.4 billion, a […]

Will Izuchukwu July 7, 2024

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News

Crypto Hacks and Exploits In Q2 2024: Over $675M In Losses

Q2 2024 witnessed some of the most significant crypto hacks and exploits, resulting in over $675 million in losses. A total of 15 major incidents were recorded, highlighting the persistent vulnerabilities within the crypto space. Among the targets were four crypto exchanges, one individual whale investor, and nine projects. The staggering total loss of $710 million underscores the scale and impact of these breaches. Breaking down the losses by classification, crypto exchanges (CEXs) suffered the most, with a combined loss of $432 million. Various projects were also heavily targeted, resulting in $206 million in losses. Individual entities faced $70 million in losses, while companies experienced relatively minor losses, totaling $2 million. https://twitter.com/Coin98Analytics/status/1808458615319392762?t=M-q_mmOtLIQytR4cAQVUKA&s=19 Watch These Top Five Attack Methods Used By Hackers The top five attack methods employed by hackers in Q2 2024 included contract vulnerabilities, rug pulls, unknown methods, Twitter […]

Will Izuchukwu July 5, 2024

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Market Analysis

Smart Trader 0x8d73 Buys $500K In ENS Despite Bearish Market Trends

In a surprising move, smart trader 0x8d73 has purchased approximately $500K worth of ENS tokens, even as both $BTC and $ENS prices are declining. According to data from icrypto.ai, this trader has acquired 18.39K ENS tokens in the past 16 hours. Shortly after the acquisition, 15.49K ENS tokens, valued at around $414K, were transferred to a storage wallet, 0x021ce. This wallet now holds a total of 18K ENS tokens, worth roughly $452K. https://twitter.com/iCryptoAI/status/1808677907600142716?t=17LSLLxQ7jobq07OIAYDRQ&s=19 Trader 0x8d73, known for a win rate of 42% and involvement in some meme coins, has primarily focused his current portfolio on holding ENS. This strategic move comes amid a broader bearish sentiment in the market, particularly affecting LDO, a token representative of the staking sector. With the EthereumETF expected to begin trading soon, questions arise about the future sentiment of ENS. Given the current market trends, […]

Will Izuchukwu July 5, 2024

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