Day: July 8, 2023

GMX popular in DEX trading but this token likely to take over DeFi

In 2023, the market capitalization of the global cryptocurrency industry reached $1.2 trillion, which exceeded expectations considering the regulatory challenges faced by many crypto platforms in the previous year. Despite these challenges, there remains a sustained level of interest in cryptocurrencies. GMX has been rapidly growing in recent months. DigiToads has also gained attention as an altcoin with potential in 2023 due to its hybrid decentralized finance (DeFi) model that provides users various avenues to generate residual income. DigiToads presale tracked by investors in 2023 DigiToads is a cryptocurrency project that…

BAYC NFT floor price drops 90% from $600,000 in 18 months

The floor price of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) is down by 90% in roughly 18 months as the NFT scene grapples with bear market conditions that spilled over from 2022. BAYC floor price falling The BAYC NFTs, a collection of 10,000 unique Bored Ape NFTs, have been significantly impacted by the current bear market conditions, which can be traced to last year. The BAYC NFT floor price, which once soared to $600,000 in 2021, is now down by over 90%. According to analytics from OpenSea, an NFT marketplace,…

Retailers buying more bitcoin than miners can supply

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a bullish display of conviction, retail holders with less than 1 bitcoin, referred to as “shrimps,” are accumulating more coins than miners can issue every month, on-chain data shows. More retailers are buying and holding bitcoin In a tweet, Glassnode’s lead analyst revealed that shrimps are stacking an average of 33,800 bitcoin (BTC) monthly.  #Bitcoin Shrimp (< 1 $BTC) 🦐 are stacking sats at a rate of 33.8k $BTC per month. Issuance 🔵 is ~27.0k…

Trezor developer confirms private keys can be extracted if firmware is corrupt

A developer has acknowledged that a malicious firmware update can “exfiltrate” the seed and record the passphrase of a Trezor device. This revelation emerged during a discussion on Trezor’s official forum. It is weeks after the Ledger Recover feature suggestion that drew even more concern about the security of assets stored in popular hardware wallets. Trezor confirmation The developer emphasized that although open-source software allows for global community scrutiny and the use of hashes and signatures to verify authenticity, these measures do not eliminate the possibility of harmful code being included…

Investors bullish on Aave, InQubeta, and Filecoin despite inflation concerns

Many people are worried about inflation in the world’s financial markets due to the large amounts of money being spent by governments and central banks. This has led to renewed interest in cryptocurrencies to protect against the potential loss of purchasing power in fiat currencies. Even so, projects like Aave, InQubeta, and Filecoin have garnered substantial investor attention. Despite prevailing anxieties about inflation, these projects have sustained a positive sentiment among investors.  This article delves into the factors contributing to their optimistic outlook amid inflationary concerns. InQubeta: audited and secure…

AI tool revolutionizes brain tumor treatment by guiding surgeons: Study

boss

An artificial intelligence (AI) tool has emerged to assist doctors in combating aggressive brain tumors. It aids in identifying crucial characteristics that provide guidance during surgery. The Cryosection Histopathology Assessment and Review Machine (CHARM) is an advanced tool that efficiently analyzes images to identify the genetic profile of gliomas, a type of aggressive brain tumor. Currently, this process takes days or weeks. Kun-Hsing Yu, the senior author of a July 7 report in Med, explained that surgeons rely on detailed diagnoses to guide their operations. Although the tool’s accuracy may…

Ripple Labs to revolutionize real estate industry through tokenization

boss

Ripple Labs Inc, a company known for blockchain innovation and digital payments, has announced an initiative to transform the real estate industry using tokenization. Antony Welfare, the Central Bank Digital Currency (CBDC) advisor at Ripple, highlighted the growing global interest in CBDCs and stablecoins in a July 7 tweet. He emphasized that Ripple’s team is actively exploring practical applications for CBDCs and stablecoins, with a particular focus on tokenizing real estate assets. During a fintech conference in Romania, Welfare presented an intriguing use case that combines the digital Hong Kong…

ZachXBT’s research cited in Canadian NFT rug pull class action lawsuit

boss

The investigative work of independent blockchain sleuth ZachXBT has been cited in a class action lawsuit in Canada against Boneheads, an alleged $3.1 million nonfungible token rug pull. Tweeting on July 7, ZachXBT highlighted that lawsuit as he reiterated accusations that the Boneheads team “quickly disappeared and spent the mint funds on BAYCs [Bored Ape Yacht Club NFTs], luxury goods, and other items never fulfilling the roadmap.” “Yet another case where my research has been cited,” ZachXBT added. A class action lawsuit was filed in Canada against the Boneheads team…

Union Finance unveils permissionless credit protocol at ETHBarcelona

Jacob Shiach, CEO of Union Finance, introduced Union Finance’s permissionless credit protocol, which aims to facilitate decentralized lending by leveraging trust and coordination among individuals, DAOs, and contracts. Shiach presented a speech on uncollateralized lending and leveraging friendships for fun and profit at the ETHBarcelona conference. During the conference, Shiach discussed various aspects of credit and its role in financial and real economies. He emphasized the importance of time travel, scalability, technology, and lifeline credit in driving economic growth and making more efficient decisions. He also highlighted the complexities of…

Advancements in AI to spark broader adoption of InQubeta and Bittensor 

Investors are always on the lookout for potential AI-based projects, given the transformative impact of artificial intelligence (AI) technology on various industries, including crypto. InQubeta and Bittensor are two AI-based projects in today’s decentralized finance (DeFi) market. InQubeta combines AI and blockchain technology to offer crypto users unique features and potentially greater returns if they invest in their native token, QUBE. The machine learning technology provided by Bittensor and the progress witnessed in InQubeta’s presale position these projects as projects investors can explore. For this reason, their value propositions draw investors’ interest,…