crypto blog
Animoca Brands’ Lympo NFT platform hacked for $18.7 million
Sports NFT minting platform and Animoca Brands subsidiary Lympo suffered from a hot wallet security breach and lost 165.2 million LMT tokens worth $18.7 million at the time of the hack. A short Medium update from the Lympo team stated that on Jan. 10 hackers managed to gain access to Lympo’s operational hot wallet and “stole a total of approximately 165.2 million LMT from it.” According to the post, ten different project wallets were compromised in the attack. It appears that most of the stolen tokens were sent to a single address, swapped for Ether (ETH) on Uniswap and Sushiswap, then sent elsewhere. LMT price tumbled 92% to $0.0093 after hackers transferred then sold the loot from the project’s hot wallets. A subsequent Jan. 11 tweet from the team stated that they were “working on stabil...
Australia’s largest crypto exchange will sponsor tennis star Ajla Tomljanovic
BTC Markets, the largest digital assets exchange in Australia, has announced it will be sponsoring professional tennis player Ajla Tomljanovic for the Australian Open and Sydney Tennis Classic tournaments taking place this month. In a Tuesday announcement, BTC Markets said it would be backing Tomljanovic as part of a partnership inspired in part by “increased investor activity from female investors in the last financial year.” Users from the crypto exchange will have the chance to win tickets to the tournaments and a meeting with the tennis star with a nonfungible token showing proof of attendance. Flash Competition to win 2 tix to see @Ajlatom play tomorrow at the Sydney Classic! Yup, you read that right, tennis & crypto united at last Gotta love how Aussies support their own – ...
3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto
On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App. I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp — andre (@andre) January 10, 2022 Iguodala j...
Bitcoin price bounces to $41.5K, but derivatives data shows traders lack confidence
Bitcoin (BTC) briefly reached its lowest level in five months this Monday at $39,650, marking a 42.6% drawdown from the all-time high present on Nov 22, 2022. Some argue that a “crypto winter” has already begun citing the $2.1 billion leverage-long aggregate crypto futures contracts that were liquidated over the past seven days. Bitcoin/USD price at FTX. Source: TradingView The descending channel guiding Bitcoin’s negative performance for the past 63 days indicates that traders should expect sub-$40,000 prices by February. Confidence from investors continued to decline after the United States Federal Reserve’s December FOMC session on Jan. 5. The monetary policy authority showed commitment to decrease its balance sheet and increase interest rates in 2022. On Jan. 5, Kazakhstan’s political ...
Binance sponsors AFCON to further develop crypto adoption in Africa
Monday marked the start of the TotalEnergies Africa Cup of Nations tournament — the largest men’s football championship series in Africa. At the same time, Binance announced its official partnership with the Confederation of African Football as well as its official sponsorship for the AFCON 2021 tournament, becoming the first crypto and blockchain sponsor for the event. Through this sponsorship, Binance will also be promoting CAF’s social media content which will include the Assist of the Day, Assist of the Week and Assist of the Tournament. This content will cover games from five cities in Cameroon across all six venues. Veron Mosengo-Omba, the General Secretary for the CAF, was “delighted to welcome Binance as an official sponsor of the AFCON tournament this year.” Mosengo-Omba said that...
Bitcoin down 11% over the last 7-days: Here’s Galaxy Digital chief’s projected BTC price floor figure
The ex-hedge fund manager predicted last month that Bitcoin could hold at $42,000 Financier and crypto investor Mike Novogratz recently told CNBC that he expects to see Bitcoin fall even further to a price floor much around $40,000 or $38,000. Bloomberg reported the change of heart from the crypto bull who recently opined that Bitcoin could hold at $42,000. Delving into the projection, Novogratz stated that he would put a hold on buying crypto again. The Galaxy Investment chief added that there is a substantial amount of institutional money, ready to pounce on the opportunity to get into the space. “(There is a) tremendous amount of institutional demand on the sidelines,” he said. He insisted he is not tense about the medium-term performance of cryptocurrencies even though...
AXS, LRC and SAND are tokens worthy of your attention on January 10 and this is why!
Axie Infinity (AXS), Loopring (LRC), and The Sandbox (SAND) are the go-to tokens to buy on January 10. Each of these tokens showcases a huge promise for growth. They are at a solid value point, making them a worthwhile purchase. Axie Infinity is one of the largest cryptocurrency-based play-to-earn games, which has showcased huge growth. AXS is its native cryptocurrency token. Loopring is an open-sourced, audited, and non-custodial exchange protocol powered by the LRC cryptocurrency token. The Sandbox is a virtual world that runs on top of the Ethereum blockchain, which is powered by the SAND cryptocurrency token. SAND is an ERC-20 based token. Should you buy Axie Infinity (AXS)? On January 10, Axie Infinity (AXS) had a value of $69.22. To get a better perspective as to what kind of value p...
Dogecoin creator slams Mozilla for pausing crypto donations
The Mozilla Foundation’s back-tracking on crypto has earned a reaction from the creator of the world’s first meme cryptocurrency. On Dec. 31, 2021, Mozilla, the developers of the Firefox internet browser, tweeted that the company was accepting cryptos like Dogecoin (DOGE), Ether (ETH), and Bitcoin (BTC) as donations, along with a Bitpay donation link. However, less than a week later, the campaign was stopped after it received backlash from users and programmer Jamie Zawinski, a co-founder of Mozilla. According to Zawinski, everyone involved should be “ashamed of this decision to partner with planet-incinerating Ponzi grifters.” Zawinski didn’t stop there. As a follow-up, he published a blog post on his website and wrote that the crypto industry’s business model ...
Bitcoin drops below $40K for first time in 3 months as fear set to ‘accelerate’
Bitcoin (BTC) fell below the landmark $40,000 mark for the first time since September 2021 on Jan. 10, heightening a rout that began six weeks ago. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bollinger bands step in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD encountering predictable volatility as bears finally steered the market back into the $30,000 zone. The move had been long preempted, with forecasts even calling for an identical floor to that of July — just below $30,000. “And we’re dipping into the $40K region for Bitcoin, through which the fear will only accelerate even more,” Cointelegraph contributor Michaël van de Poppe reacted. For trader and analyst Rekt Capital, the first point of support lay in the lower of the tw...
These 3 cryptocurrencies are taking an even bigger hit during Bitcoin’s price slump
The cost to purchase one Bitcoin (BTC) has dropped almost 10% in the last seven days and has been eyeing extended declines as it drops below $40,000, its interim psychological support, on Jan. 10. BTC/USD weekly price chart. Source: TradingView Nonetheless, the losses suffered by Bitcoin still appear less than that of some of its top crypto rivals’ performances. For instance, Cardano (ADA), the seventh-largest cryptocurrency by market valuation, has dropped by nearly 11% to around $1.15 in the last seven days. Similarly, Ripple (XRP), the eighth-largest by market capitalization, has dipped by around 10% to nearly $0.75 in the same period. Meanwhile, some cryptocurrencies listed among the top 50 digital assets have experienced bigger losses between 15% and 30% in the last week. They i...
Billionaire investor Bill Miller puts 50% of net worth in Bitcoin
Investor Bill Miller is bullish on Bitcoin (BTC) despite the cryptocurrency touching multi-month lows below $40,000 in early January 2022. Miller no longer considers himself just a “Bitcoin observer” but rather a real Bitcoin bull, as he said in a WealthTrack interview last Friday. The billionaire investor now holds 50% of his net worth in Bitcoin and related investments in major industry firms like Michael Saylor’s MicroStrategy and BTC mining firm Stronghold Digital Mining. An early Amazon investor, Miller owns almost 100% of the rest of his portfolio in Amazon, he noted. Miller bought his first Bitcoin back in 2014 when BTC was trading around $200 and then purchased a “little bit more overtime” when it became $500. The investor did not buy it for years until BTC plummeted to $30,000 aft...
Ethereum developers disagree with JP Morgan’s prediction of loss of dominance
The analyst team had predicted that Ethereum’s market share would continue shrinking Last Wednesday, JPMorgan Chase & Co. research analysts in a team led by Nikolaos Panigirtzoglou said Ethereum’s dominance is at risk of getting chopped off by competing blockchain ecosystems. JP Morgan’s projection According to Bloomberg, analysts from the American investment bank said in a note that Ethereum’s market share could remain on the path of decline until the final phase, sharding, arrives. Labelled the most critical stage for scaling, it is not expected to arrive until 2023. Evidently, Ethereum has seen a decline in dominance in the decentralised finance niche. At the start of 2021, it locked almost 100% of the total DeFi value, a figure which declined to about 7...
