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FEATURING:
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Like, follow & share (it will be constantly updated) ↙️⬇️↘️
The Blowfish team is said to have put defenses in place to block the newly found drainers automatically and is monitoring on-chain activity.
SCAM-AS-A-SERVICE: NEW SOLANA DRAINERS IDENTIFIED
The drainers, available on scam-as-a-service marketplaces, can flip a conditional within an on-chain transaction.
Web3 security firm Blowfish has detected two new Solana drainers that can perform bit-flip attacks, according to a Feb. 9 analysis shared on social media platform X.
The drainers, Aqua and Vanish, were flagged modifying a conditional within on-chain data, even after a user’s private key was used to sign a transaction. According to Blowfish, the drainers’ script is available for a fee in marketplaces offering scam-as-a-service tools.
The Blowfish team broke down the method used by the drainers to flip data and steal funds: “On Solana, a dApp can be given authority to submit a transaction. If the dApp’s on-chain program includes a conditional that allows it to send the user SOL or drain their account, a drainer could flip that conditional at any time,” reads the analysis.
The drainers go unnoticed by users at first. The victim signs what appears to be a valid transaction. However, after receiving the signature, the drainer temporarily holds on to the transaction. “Then, via a separate transaction, they flip the dApp’s conditional; it goes from appearing to send SOL to taking it instead.”
A bit-flip attack is a form of exploitation where the attacker changes the value of some bits in the encrypted data to manipulate a system. It allows the attacker to modify the encrypted message without knowing the encryption key. By flipping specific bits, an attacker can sometimes change a message in a predictable way once it’s decrypted.
A rising number of crypto drainers have targeted the Solana ecosystem. According to Chainalysis, one of the largest online communities devoted to a single Solana wallet drainer kit had over 6,000 members as of January. Brian Carter, Chainalysis senior intelligence analyst, told Cointelegraph in a previous interview that the most successful draining kits can target many assets in various ways.
The drainers, available on scam-as-a-service marketplaces, can flip a conditional within an on-chain transaction.
Web3 security firm Blowfish has detected two new Solana drainers that can perform bit-flip attacks, according to a Feb. 9 analysis shared on social media platform X.
The drainers, Aqua and Vanish, were flagged modifying a conditional within on-chain data, even after a user’s private key was used to sign a transaction. According to Blowfish, the drainers’ script is available for a fee in marketplaces offering scam-as-a-service tools.
The Blowfish team broke down the method used by the drainers to flip data and steal funds: “On Solana, a dApp can be given authority to submit a transaction. If the dApp’s on-chain program includes a conditional that allows it to send the user SOL or drain their account, a drainer could flip that conditional at any time,” reads the analysis.
The drainers go unnoticed by users at first. The victim signs what appears to be a valid transaction. However, after receiving the signature, the drainer temporarily holds on to the transaction. “Then, via a separate transaction, they flip the dApp’s conditional; it goes from appearing to send SOL to taking it instead.”
A bit-flip attack is a form of exploitation where the attacker changes the value of some bits in the encrypted data to manipulate a system. It allows the attacker to modify the encrypted message without knowing the encryption key. By flipping specific bits, an attacker can sometimes change a message in a predictable way once it’s decrypted.
A rising number of crypto drainers have targeted the Solana ecosystem. According to Chainalysis, one of the largest online communities devoted to a single Solana wallet drainer kit had over 6,000 members as of January. Brian Carter, Chainalysis senior intelligence analyst, told Cointelegraph in a previous interview that the most successful draining kits can target many assets in various ways.
SCAM-AS-A-SERVICE: NEW SOLANA DRAINERS IDENTIFIED
The drainers, available on scam-as-a-service marketplaces, can flip a conditional within an on-chain transaction.
Web3 security firm Blowfish has detected two new Solana drainers that can perform bit-flip attacks, according to a Feb. 9 analysis shared on social media platform X.
The drainers, Aqua and Vanish, were flagged modifying a conditional within on-chain data, even after a user’s private key was used to sign a transaction. According to Blowfish, the drainers’ script is available for a fee in marketplaces offering scam-as-a-service tools.
The Blowfish team broke down the method used by the drainers to flip data and steal funds: “On Solana, a dApp can be given authority to submit a transaction. If the dApp’s on-chain program includes a conditional that allows it to send the user SOL or drain their account, a drainer could flip that conditional at any time,” reads the analysis.
The drainers go unnoticed by users at first. The victim signs what appears to be a valid transaction. However, after receiving the signature, the drainer temporarily holds on to the transaction. “Then, via a separate transaction, they flip the dApp’s conditional; it goes from appearing to send SOL to taking it instead.”
A bit-flip attack is a form of exploitation where the attacker changes the value of some bits in the encrypted data to manipulate a system. It allows the attacker to modify the encrypted message without knowing the encryption key. By flipping specific bits, an attacker can sometimes change a message in a predictable way once it’s decrypted.
A rising number of crypto drainers have targeted the Solana ecosystem. According to Chainalysis, one of the largest online communities devoted to a single Solana wallet drainer kit had over 6,000 members as of January. Brian Carter, Chainalysis senior intelligence analyst, told Cointelegraph in a previous interview that the most successful draining kits can target many assets in various ways.
The drainers, available on scam-as-a-service marketplaces, can flip a conditional within an on-chain transaction.
Web3 security firm Blowfish has detected two new Solana drainers that can perform bit-flip attacks, according to a Feb. 9 analysis shared on social media platform X.
The drainers, Aqua and Vanish, were flagged modifying a conditional within on-chain data, even after a user’s private key was used to sign a transaction. According to Blowfish, the drainers’ script is available for a fee in marketplaces offering scam-as-a-service tools.
The Blowfish team broke down the method used by the drainers to flip data and steal funds: “On Solana, a dApp can be given authority to submit a transaction. If the dApp’s on-chain program includes a conditional that allows it to send the user SOL or drain their account, a drainer could flip that conditional at any time,” reads the analysis.
The drainers go unnoticed by users at first. The victim signs what appears to be a valid transaction. However, after receiving the signature, the drainer temporarily holds on to the transaction. “Then, via a separate transaction, they flip the dApp’s conditional; it goes from appearing to send SOL to taking it instead.”
A bit-flip attack is a form of exploitation where the attacker changes the value of some bits in the encrypted data to manipulate a system. It allows the attacker to modify the encrypted message without knowing the encryption key. By flipping specific bits, an attacker can sometimes change a message in a predictable way once it’s decrypted.
A rising number of crypto drainers have targeted the Solana ecosystem. According to Chainalysis, one of the largest online communities devoted to a single Solana wallet drainer kit had over 6,000 members as of January. Brian Carter, Chainalysis senior intelligence analyst, told Cointelegraph in a previous interview that the most successful draining kits can target many assets in various ways.
HOW TO SET UP A STABLECOIN WALLET
To ensure a secure and seamless experience, there are a few requirements to set up a digital wallet for stablecoins. Users must first have access to a device that can run digital wallet programs and a reliable internet connection. Then, picking a trustworthy wallet provider that prioritizes security and stablecoin compatibility is crucial.
After choosing an appropriate wallet, users need to register for an account and go through regulatory-compliant identity verification procedures. Users can fund their digital wallet with fiat money using bank transfers or other payment options after fulfilling these requirements.
For example, with a wallet such as MetaMask, users can add stablecoins by connecting to decentralized finance (DeFi) platforms and swapping assets through smart contracts. It is important to note that ensuring the wallet of choice supports the particular stablecoins of interest is essential to a smooth and effective setup.
⬇️The future of stablecoins in everyday finance
The future of stablecoin technology holds exciting prospects, with new developments aimed at improving integration and functionality. Developments in smart contracts might provide programmable elements, opening the door to automated financial processes.
Additional areas of emphasis include enhanced scalability and privacy-focused features. Stablecoins have the potential to streamline international payments by enabling quicker cross-border transactions and removing intermediaries through their connection with conventional financial systems.
Increased acceptance and usage within the traditional banking sector could result from standardized frameworks created through collaboration between regulatory authorities and stablecoin projects. The development of central bank digital currencies (CBDCs) is another avenue where stablecoins might promote interoperability between digital and conventional monetary systems.
To ensure a secure and seamless experience, there are a few requirements to set up a digital wallet for stablecoins. Users must first have access to a device that can run digital wallet programs and a reliable internet connection. Then, picking a trustworthy wallet provider that prioritizes security and stablecoin compatibility is crucial.
After choosing an appropriate wallet, users need to register for an account and go through regulatory-compliant identity verification procedures. Users can fund their digital wallet with fiat money using bank transfers or other payment options after fulfilling these requirements.
For example, with a wallet such as MetaMask, users can add stablecoins by connecting to decentralized finance (DeFi) platforms and swapping assets through smart contracts. It is important to note that ensuring the wallet of choice supports the particular stablecoins of interest is essential to a smooth and effective setup.
⬇️The future of stablecoins in everyday finance
The future of stablecoin technology holds exciting prospects, with new developments aimed at improving integration and functionality. Developments in smart contracts might provide programmable elements, opening the door to automated financial processes.
Additional areas of emphasis include enhanced scalability and privacy-focused features. Stablecoins have the potential to streamline international payments by enabling quicker cross-border transactions and removing intermediaries through their connection with conventional financial systems.
Increased acceptance and usage within the traditional banking sector could result from standardized frameworks created through collaboration between regulatory authorities and stablecoin projects. The development of central bank digital currencies (CBDCs) is another avenue where stablecoins might promote interoperability between digital and conventional monetary systems.
HOW TO USE STABLECOINS FOR EVERYDAY TRANSACTIONS
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
HOW TO SET UP A STABLECOIN WALLET
To ensure a secure and seamless experience, there are a few requirements to set up a digital wallet for stablecoins. Users must first have access to a device that can run digital wallet programs and a reliable internet connection. Then, picking a trustworthy wallet provider that prioritizes security and stablecoin compatibility is crucial.
After choosing an appropriate wallet, users need to register for an account and go through regulatory-compliant identity verification procedures. Users can fund their digital wallet with fiat money using bank transfers or other payment options after fulfilling these requirements.
For example, with a wallet such as MetaMask, users can add stablecoins by connecting to decentralized finance (DeFi) platforms and swapping assets through smart contracts. It is important to note that ensuring the wallet of choice supports the particular stablecoins of interest is essential to a smooth and effective setup.
⬇️The future of stablecoins in everyday finance
The future of stablecoin technology holds exciting prospects, with new developments aimed at improving integration and functionality. Developments in smart contracts might provide programmable elements, opening the door to automated financial processes.
Additional areas of emphasis include enhanced scalability and privacy-focused features. Stablecoins have the potential to streamline international payments by enabling quicker cross-border transactions and removing intermediaries through their connection with conventional financial systems.
Increased acceptance and usage within the traditional banking sector could result from standardized frameworks created through collaboration between regulatory authorities and stablecoin projects. The development of central bank digital currencies (CBDCs) is another avenue where stablecoins might promote interoperability between digital and conventional monetary systems.
To ensure a secure and seamless experience, there are a few requirements to set up a digital wallet for stablecoins. Users must first have access to a device that can run digital wallet programs and a reliable internet connection. Then, picking a trustworthy wallet provider that prioritizes security and stablecoin compatibility is crucial.
After choosing an appropriate wallet, users need to register for an account and go through regulatory-compliant identity verification procedures. Users can fund their digital wallet with fiat money using bank transfers or other payment options after fulfilling these requirements.
For example, with a wallet such as MetaMask, users can add stablecoins by connecting to decentralized finance (DeFi) platforms and swapping assets through smart contracts. It is important to note that ensuring the wallet of choice supports the particular stablecoins of interest is essential to a smooth and effective setup.
⬇️The future of stablecoins in everyday finance
The future of stablecoin technology holds exciting prospects, with new developments aimed at improving integration and functionality. Developments in smart contracts might provide programmable elements, opening the door to automated financial processes.
Additional areas of emphasis include enhanced scalability and privacy-focused features. Stablecoins have the potential to streamline international payments by enabling quicker cross-border transactions and removing intermediaries through their connection with conventional financial systems.
Increased acceptance and usage within the traditional banking sector could result from standardized frameworks created through collaboration between regulatory authorities and stablecoin projects. The development of central bank digital currencies (CBDCs) is another avenue where stablecoins might promote interoperability between digital and conventional monetary systems.
HOW TO USE STABLECOINS FOR EVERYDAY TRANSACTIONS
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
HOW TO USE STABLECOINS FOR EVERYDAY TRANSACTIONS
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
Discover the ease and security of utilizing stablecoins in your daily transactions, revolutionizing the way you handle digital payments with stability and convenience.
Stablecoins, which provide stability and value preservation for consumers, stand out as a reliable bridge between digital assets and everyday transactions in the volatile world of cryptocurrencies. This guide explores the practical aspects of utilizing stablecoins in day-to-day financial transactions.
ADVANTAGES OF USING STABLECOINS OVER TRADITIONAL AND OTHER DIGITAL CURRENCIES
Stablecoins are a subset of digital currencies whose value is fixed to a reserve asset, like a fiat currency or commodity. They stand apart from the frequent price volatility associated with cryptocurrencies such as Ether $ETH or Bitcoin $BTC due to their stability. Stablecoins come in three forms: algorithmic, fiat-collateralized and crypto-collateralized.
Algorithmic stablecoins employ algorithms and smart contracts to control supply and demand and preserve stability. Stablecoins with fiat collateral are directly correlated with traditional currencies. Stablecoins that are collateralized with other cryptocurrencies, or crypto-collateralized stablecoins, offer decentralization but also expose investors to volatility in the cryptocurrency market.
Stablecoins provide reduced costs, faster transactions and price stability over other digital currencies and traditional currencies. They can be used for regular transactions and as a hedge against the volatility of cryptocurrencies because of their value peg, which ensures a steady store of value. Furthermore, stablecoins frequently make cross-border transactions faster and less expensive than they would be through regular banking systems, making them a more practical and economical option for both consumers and companies.
BITCOIN SHORTS SHOULD BRACE TO GET SQUEEZED AS $BTC PRICE EYES $50k
Bitcoin may be consolidating after 6% daily gains, but the potential for runaway BTC price upside is there, says analysis.
Bitcoin $BTC took a rain check on snap upside at the feb. 9 Wall Street open as 24hrs gain hit 6%.
ANALYSIS WANRNS BITCOIN SHORTERS PLAY A RISKY GAME
Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory retracing after reaching $47,700.
The move, driven by spot markets, barely stopped for breath overnight as successive Asia and United States trading sessions posed little problem for bulls.
“Strong bounce from the midrange, attacking $48,000 again, as expected,” popular trader Jelle wrote in part of his latest analysis on X (formerly Twitter).
“Last hurdle for Bitcoin to overcome, not much standing in the way of new all-time highs once it breaks.”
#TrendingTopic
Bitcoin may be consolidating after 6% daily gains, but the potential for runaway BTC price upside is there, says analysis.
Bitcoin $BTC took a rain check on snap upside at the feb. 9 Wall Street open as 24hrs gain hit 6%.
ANALYSIS WANRNS BITCOIN SHORTERS PLAY A RISKY GAME
Data from Cointelegraph Markets Pro and TradingView showed BTC price trajectory retracing after reaching $47,700.
The move, driven by spot markets, barely stopped for breath overnight as successive Asia and United States trading sessions posed little problem for bulls.
“Strong bounce from the midrange, attacking $48,000 again, as expected,” popular trader Jelle wrote in part of his latest analysis on X (formerly Twitter).
“Last hurdle for Bitcoin to overcome, not much standing in the way of new all-time highs once it breaks.”
#TrendingTopic
DeFi COMPLIANCE IN 2024 AND NEW SEC RULES SET TO BE CHALLENGED: FINANCE REDEFINED
Experts say the SEC’s new rule impacting DEX liquidity providers has attracted much criticism and may be challenged in court.
In an interview with Cointelegraph, Ripple’s president stated that 2024 could be the year of DeFi regulations. Meanwhile, the United States Securities and Exchange Commission (SEC) has introduced a new definition for a “dealer” and “government securities dealer,” targeting liquidity providers in DeFi. But, experts believe stakeholders will challenge the new rule in court.
The top 100 DeFi tokens had a bullish week, following the footsteps of broader market gains, and the total value locked (TVL) in DeFi protocols crossed $63 billion.
DeFi COMPLIANCE TO BE A TOP INDUSTRY TREND IN 2024, SAYS RIPPLE’S PRESIDENT
According to its president, Monica Long, global payment network Ripple expects compliance in decentralized finance (DeFi) to be the industry’s “biggest breakthrough” of 2024.
In an interview with Cointelegraph, Long said previous hype cycles fueled by initial coin offerings and nonfungible tokens would be replaced by real-world utility at scale, which requires compliance, usability and integration with existing systems.
DeFi MARKET OVERVIEW
Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most trading in the green on the weekly charts. The TVL in DeFi protocols reached $63.9 billion.
Experts say the SEC’s new rule impacting DEX liquidity providers has attracted much criticism and may be challenged in court.
In an interview with Cointelegraph, Ripple’s president stated that 2024 could be the year of DeFi regulations. Meanwhile, the United States Securities and Exchange Commission (SEC) has introduced a new definition for a “dealer” and “government securities dealer,” targeting liquidity providers in DeFi. But, experts believe stakeholders will challenge the new rule in court.
The top 100 DeFi tokens had a bullish week, following the footsteps of broader market gains, and the total value locked (TVL) in DeFi protocols crossed $63 billion.
DeFi COMPLIANCE TO BE A TOP INDUSTRY TREND IN 2024, SAYS RIPPLE’S PRESIDENT
According to its president, Monica Long, global payment network Ripple expects compliance in decentralized finance (DeFi) to be the industry’s “biggest breakthrough” of 2024.
In an interview with Cointelegraph, Long said previous hype cycles fueled by initial coin offerings and nonfungible tokens would be replaced by real-world utility at scale, which requires compliance, usability and integration with existing systems.
DeFi MARKET OVERVIEW
Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization had a bullish week, with most trading in the green on the weekly charts. The TVL in DeFi protocols reached $63.9 billion.
BITCOIN DOGS SET TO MAKE HISTORY WITH FIRST EVER 'ICO' ON BITCOIN BLOCKCHAIN
– Bitcoin Dogs is set to be part of cryptocurrency history with the first ever ICO on the Bitcoin blockchain, launching on February 14th, 2024.
The presale for its native token, 0DOG, will last only 30 days, with an end date of the 15th March 2024, when it will become available for trading.
Accompanying the 0DOG coin will be an immersive metaverse GameFi experience and NFT collection, both available exclusively to token holders.
The sale will start with stage 1, priced at $0.015 per token, after which, the price will then automatically increase every 72 hours. The final stage of the presale will see each 0DOG token being sold at $0.0404, a 169.33% price difference to early-stage buyers.
⛔️The project is set to challenge Bitcoin Cats, which also launched on the Bitcoin Blockchain under 7-weeks ago, and is currently sitting at $24m in market cap, with over $7m daily trading volume.⛔️
Using the paradigm-shifting Ordinals protocol, players will store their NFTs on the Bitcoin BRC-20 blockchain, offering a new level of security and reliability when stacked up against competitors Solana and Ethereum.
PRESS THE PAWS BUTTON: INSIDE THE BITCOIN DOGS GAME
Bitcoin Dogs allows users to raise, trade, and race their pets in a play-to-earn (P2E) environment, drawing heavily on experiences like Tamagotchi or Axie Infinity.
The game invites players to look after their dogs in order to level them up. In-game token BARK powers this process; these can be earned by sharing activity on social media – a mechanism designed to bring new players into the fold.
Seems interesting huh…..
#BitcoinDogs #BitcoinCats #TrendingTopic #Write2Earn
– Bitcoin Dogs is set to be part of cryptocurrency history with the first ever ICO on the Bitcoin blockchain, launching on February 14th, 2024.
The presale for its native token, 0DOG, will last only 30 days, with an end date of the 15th March 2024, when it will become available for trading.
Accompanying the 0DOG coin will be an immersive metaverse GameFi experience and NFT collection, both available exclusively to token holders.
The sale will start with stage 1, priced at $0.015 per token, after which, the price will then automatically increase every 72 hours. The final stage of the presale will see each 0DOG token being sold at $0.0404, a 169.33% price difference to early-stage buyers.
⛔️The project is set to challenge Bitcoin Cats, which also launched on the Bitcoin Blockchain under 7-weeks ago, and is currently sitting at $24m in market cap, with over $7m daily trading volume.⛔️
Using the paradigm-shifting Ordinals protocol, players will store their NFTs on the Bitcoin BRC-20 blockchain, offering a new level of security and reliability when stacked up against competitors Solana and Ethereum.
PRESS THE PAWS BUTTON: INSIDE THE BITCOIN DOGS GAME
Bitcoin Dogs allows users to raise, trade, and race their pets in a play-to-earn (P2E) environment, drawing heavily on experiences like Tamagotchi or Axie Infinity.
The game invites players to look after their dogs in order to level them up. In-game token BARK powers this process; these can be earned by sharing activity on social media – a mechanism designed to bring new players into the fold.
Seems interesting huh…..
#BitcoinDogs #BitcoinCats #TrendingTopic #Write2Earn
An XRP ETF Could Send Price Soaring, Analyst Remarks
$XRP $ETF
.The creation of an XRP ETF could diminish supply, increase demand, and drive XRP’s value upward.
.XRP’s utility could extend beyond investment, serving as a liquidity hub for institutional transactions.
.Despite hypothetical scenarios, no firm has initiated steps for an XRP ETF, despite favorable regulatory conditions in the US.
Amid mounting anticipation, discussions surrounding the possibility of an XRP exchange-traded fund (ETF) have intensified, fueled by insights from a prominent figure in the XRP community. This individual has outlined a two-pronged strategy that an XRP ETF could employ to potentially drive XRP’s value to unprecedented heights.
The first aspect of this strategy revolves around the investment potential of an XRP ETF. It is proposed that the fund would acquire XRP from public exchanges, locking up the tokens and issuing derivative shares to investors.
This process could theoretically reduce the available supply of XRP, sparking increased demand and consequent price appreciation. Additionally, it’s suggested that a substantial number of global investors, viewing XRP as a viable long-term investment, might opt to channel their funds through such an ETF, amplifying its market impact.
Beyond its role as an investment instrument, the second prong of the strategy explores the utility value of XRP within an ETF framework. Envisioned as an institutional liquidity hub, the XRP held within the fund could facilitate various transactions and payments within institutional contexts. This dual functionality, as both an investment asset and a utility token, holds the potential to redefine XRP’s role within the financial landscape.
However, it’s crucial to acknowledge that these discussions remain speculative at present. Despite XRP’s favorable regulatory status in the United States, no prominent entity has taken concrete steps to establish an XRP ETF.
$XRP $ETF
.The creation of an XRP ETF could diminish supply, increase demand, and drive XRP’s value upward.
.XRP’s utility could extend beyond investment, serving as a liquidity hub for institutional transactions.
.Despite hypothetical scenarios, no firm has initiated steps for an XRP ETF, despite favorable regulatory conditions in the US.
Amid mounting anticipation, discussions surrounding the possibility of an XRP exchange-traded fund (ETF) have intensified, fueled by insights from a prominent figure in the XRP community. This individual has outlined a two-pronged strategy that an XRP ETF could employ to potentially drive XRP’s value to unprecedented heights.
The first aspect of this strategy revolves around the investment potential of an XRP ETF. It is proposed that the fund would acquire XRP from public exchanges, locking up the tokens and issuing derivative shares to investors.
This process could theoretically reduce the available supply of XRP, sparking increased demand and consequent price appreciation. Additionally, it’s suggested that a substantial number of global investors, viewing XRP as a viable long-term investment, might opt to channel their funds through such an ETF, amplifying its market impact.
Beyond its role as an investment instrument, the second prong of the strategy explores the utility value of XRP within an ETF framework. Envisioned as an institutional liquidity hub, the XRP held within the fund could facilitate various transactions and payments within institutional contexts. This dual functionality, as both an investment asset and a utility token, holds the potential to redefine XRP’s role within the financial landscape.
However, it’s crucial to acknowledge that these discussions remain speculative at present. Despite XRP’s favorable regulatory status in the United States, no prominent entity has taken concrete steps to establish an XRP ETF.
Assessing Shibarium as SHIB rides a recovery wave
While the uptrend in price was starting, the number of active and new accounts on Shibarium fell.
.Shibarium has seen mixed trends in accounts in the last three days.
.SHIB sees consecutive positive trends.
The Shiba Inu [SHIB] Shibarium has recently displayed notable activity in key metrics, indicating a rising interest in the network. Simultaneously, SHIB witnessed a recovery over the past few days as interest in the network continues to grow.
SHIBARIUM ACCOUNT EXCITEMENTS SHORT-LIVED
A recent analysis of key statistics for the Shiba Inu Shibarium revealed a surge in new and active accounts. The data showed a notable increase in new accounts between 6th and 7th February, rising from around 33 to 207.
However, the current count has decreased to 79 at the time of this writing, though it remained higher than previous weeks.
Additionally, the number of active accounts experienced a similar upward trend alongside the influx of new accounts. Between 6th and 7th February, the active account metric rose from 552 to 865.
Nevertheless, similar to the new account metric, it has seen a significant decline, currently at around 206. This current level marked the lowest observed in the past few weeks.
#Write2Earn #TrendingTopic #
While the uptrend in price was starting, the number of active and new accounts on Shibarium fell.
.Shibarium has seen mixed trends in accounts in the last three days.
.SHIB sees consecutive positive trends.
The Shiba Inu [SHIB] Shibarium has recently displayed notable activity in key metrics, indicating a rising interest in the network. Simultaneously, SHIB witnessed a recovery over the past few days as interest in the network continues to grow.
SHIBARIUM ACCOUNT EXCITEMENTS SHORT-LIVED
A recent analysis of key statistics for the Shiba Inu Shibarium revealed a surge in new and active accounts. The data showed a notable increase in new accounts between 6th and 7th February, rising from around 33 to 207.
However, the current count has decreased to 79 at the time of this writing, though it remained higher than previous weeks.
Additionally, the number of active accounts experienced a similar upward trend alongside the influx of new accounts. Between 6th and 7th February, the active account metric rose from 552 to 865.
Nevertheless, similar to the new account metric, it has seen a significant decline, currently at around 206. This current level marked the lowest observed in the past few weeks.
#Write2Earn #TrendingTopic #
You need to be extra careful so you won’t fall victim
Investor Lost $1.04 Million Due To Address Poisoning...
As reported by Scam Sniffer, 5 minutes ago, a victim lost $1.04 million by copying the wrong address from a contaminated transfer history.
victim:
0xA87938CdCB07B1CF47Bc12F993Aa648F0A5a7be9
wrong address:
0x73435a475d47519b4424979b55f8a8482bca79f7
correct address:
0x73465924d8a81318e184d7aa9be526ca50ca79f7
Address poisoning in crypto is a scam where a Scamers tries to trick a crypto wallet owner into sending funds to the scammer’s address.
An address-poisoning scammer looks for wallet addresses that interact regularly with each other. It could be friends or family members sending cryptocurrencies and NFTs to each other.
The scammer will use a vanity address generator to create a wallet address that closely resembles your or your friends wallet address.
Crypto wallet addresses can be as long as 42 alphanumeric characters, which makes them difficult to remember. Most crypto wallet users have fallen into the short-cut trap of checking the first and last four characters.
The address-poisoning scammer looks to exploit this habit. The scammer will aim to generate a fake address with the same first and last four characters as the victim’s wallet address.
Now that the fake address is ready, the scammer will send a small amount of crypto or NFTs (or even a $0 token transaction) to the victim’s wallet address.
The victim’s transaction history has now been “poisoned.” The deceitful transaction will appear on the victim’s wallet transaction history.
The scammer hopes you or your Friend will copy-paste the scam address from the transaction history and send funds to the scam address instead of the legitimate one.
As reported by Scam Sniffer, 5 minutes ago, a victim lost $1.04 million by copying the wrong address from a contaminated transfer history.
victim:
0xA87938CdCB07B1CF47Bc12F993Aa648F0A5a7be9
wrong address:
0x73435a475d47519b4424979b55f8a8482bca79f7
correct address:
0x73465924d8a81318e184d7aa9be526ca50ca79f7
Address poisoning in crypto is a scam where a Scamers tries to trick a crypto wallet owner into sending funds to the scammer’s address.
An address-poisoning scammer looks for wallet addresses that interact regularly with each other. It could be friends or family members sending cryptocurrencies and NFTs to each other.
The scammer will use a vanity address generator to create a wallet address that closely resembles your or your friends wallet address.
Crypto wallet addresses can be as long as 42 alphanumeric characters, which makes them difficult to remember. Most crypto wallet users have fallen into the short-cut trap of checking the first and last four characters.
The address-poisoning scammer looks to exploit this habit. The scammer will aim to generate a fake address with the same first and last four characters as the victim’s wallet address.
Now that the fake address is ready, the scammer will send a small amount of crypto or NFTs (or even a $0 token transaction) to the victim’s wallet address.
The victim’s transaction history has now been “poisoned.” The deceitful transaction will appear on the victim’s wallet transaction history.
The scammer hopes you or your Friend will copy-paste the scam address from the transaction history and send funds to the scam address instead of the legitimate one.
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