Month: August 2022

Crypto users spent $2.7B minting NFTs in first half of 2022: Report

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According to new market research published by blockchain data firm Nansen, crypto users spent 963,227 Ether (ETH), worth $2.7 billion, minting nonfungible tokens (NFTs) on the Ethereum blockchain in the first half of 2022. An overwhelming majority of minting took place on OpenSea.io.  Minting occurred across 1.088 million unique wallet addresses on Ethereum during this period, Nansen said. In comparison, about $107 million worth of NFTs were minted on BNB Chain and $77 million for Avalanche. A total of 263,800 unique wallet addresses were involved in NFT minting on the…

Cross-Chain Bridge Nomad Loses $190 Million Making It 2022’s Third-Largest Crypto Heist – Bitcoin News

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On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time. Nomad Cross-Chain Bridge Exploited for $190 Million Cross-chain bridges in the world of decentralized finance (defi) just can’t catch a break no matter how long they have been running and even after the bridges have been audited. On August 1, 2022, the cross-chain bridge Nomad…

Bitcoin derivatives show a lack of confidence from bulls

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Bitcoin (BTC) has been trending up since mid-July, although the current ascending channel formation holds $21,100 support. This pattern has been holding for 45 days and could potentially drive BTC towards $26,000 by late August. Bitcoin/USD 12-hour price. Source: TradingView According to Bitcoin derivatives data, investors are pricing higher odds of a downturn, but recent improvements in global economic perspective might take the bears by surprise. The correlation to traditional assets is the main source of investors’ distrust, especially when pricing in recession risks and tensions between the United States…

Web3 Development Remains Strong Despite Crypto Downturn: Report

Titled “Blockchain Open-Source Developers Signal Strength of Web3 Community,” the report examined developer activity on the Ethereum, Bitcoin and Solana blockchains. The data analysts looked at 1,000 active organizations contributing to more than 30,000 open source projects across the chains, collating data from a number of sources, including code repository GitHub. Source CryptoDevelopmentDownturnRemainsReportStrongWeb3 CryptoX Portal

XRP In Bearish Mode As Ripple Unlatches 1 Billion Tokens From 2 Wallets

Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges. Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently. In effect, Ripple is…

Another Red Daily Close Puts Bitcoin Below $23,000, Is Recovery Expected?

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Bitcoin has seen another red daily close after a tremendous rally from last week. This has now wiped off most of the gains made during this time period and has left the digital asset struggling below $23,000 once more. The momentum has quickly died down as the news of the recession settled in. Its viability as an inflation hedge is once more called into question given its performance so far this year. Is Bitcoin Still A Good Bet? Bitcoin being an inflation hedge, has been one of the selling points…

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io 🚨 Join my VIP now! – Bitcoin and Ethereum Price Dump / Crash Analysis & Crypto News Update! 👍 THUMBS UP & SUBSCRIBE NOW + 🔔! *** VIP PRIVATE TRADE IDEAS & ALERTS – *** ************** 2022 VIP ELITE INFO: ************** 🚨 VIP PRIVATE TRADE IDEAS & ALERTS – 👆 VIP Link doesn’t open properly on Safari browser- use a different browser! 👆 ************** Are the Bitcoin (BTC) and Ethereum (ETH) price charts potentially going to dump / crash further, in my…

Hedge fund billionaire Steve Cohen exits crypto startup Radkl amid bear market: Report

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Steve Cohen, the founder of hedge fund Point72 Asset Management, has reportedly exited his investment in crypto trading firm Radkl. According to a Tuesday report from Bloomberg citing a Radkl spokesperson, Cohen has reduced his exposure to crypto investments following his exiting the trading firm. However, the spokesperson reportedly said Radkl was still “extremely well capitalized with its current investors” and was continuing to grow. Cohen, whose net worth was estimated at more than $17 billion, has backed crypto and blockchain projects both using his personal portfolio and through Point72.…