CRYPTO WORLD NETWORK NEWS

Aussies buy fuel and chips with crypto across 175 fuel outlets

August 18, 2022 CRYPTO WORLD

Commenting on the rollout, Crypto.com’s Karl Mohan tipped the adoption of an AUD-backed stablecoin as being the catalyst to make crypto payments mainstream in Australia. Convenience store and petrol station brand On The Run (OTR) has launched crypto payment support across all 175 of its petrol stations and convenience stores across Victoria, South Australia (SA), and Western Australia (WA) as of Thursday. As previously reported, the move is part of a collaboration between OTR, Singapore-based exchange Crypto.com and DataMesh, a Sydney-based payment systems provider. The exchange has provided its Pay…

Almost $200 Million Drained From Nomad Exploit

August 2, 2022 CRYPTO WORLD

In a series of continued exploits and hacks that the crypto industry has been experiencing as of late, the Nomad bridge hacked news doesn’t come as a shocking surprise. Nomad, a cross-blockchain transfer bridge, was recently exploited and drained for $200 million. The current market crash, alongside NFTs crashing to the floor, made crypto enthusiasts cautious to invest in new cryptocurrency releases. While the top exchanges are listing new cryptos each day, hacks like these create an air of panic among investors. Let’s take a look at how the nomad…

Crypto hackers stole almost $2 billion in H1 2022

July 11, 2022 CRYPTO WORLD

The interest in cryptocurrencies is diminishing worldwide; the NFTs market is dwindling, and Bitcoin is experiencing the biggest price drop in 11 years. Yet, cybercriminals continue to make billions by targeting various crypto projects. According to the data analyzed by the Atlas VPN team, based on the numbers provided by Slowmist Hacked, cybercriminals looted $1.97 billion from 175 crypto project hacks in the first half of 2022. The Ethereum ecosystem suffered the most, with more than $1 billion stolen in 32 events. Monetary losses were calculated based on the conversion…

Elon Musk Says He Will Continue Supporting Dogecoin “Wherever Possible”

July 7, 2022 CRYPTO WORLD

Tesla CEO Elon Musk said he will continue “supporting Doge wherever possible” in reaction to the news that The Boring Company is now accepting Dogecoin as payment for a ride. Elon Musk has been a backer of Dogecoin ever since he stated in April 2019 that the meme coin was his favorite cryptocurrency. He has since been a strong supporter of Dogecoin, tweeting about everything from having SpaceX put a “literal Dogecoin on the literal moon” to mining the meme token with his children. In the weeks leading up to…

52% of Dogecoin Addresses Remain in Profit Despite Recent Price Drop

June 29, 2022 CRYPTO WORLD

A total of 52% of Dogecoin addresses are “in profit’’ on their investments at a current price of $0.06, according to data from IntoTheBlock. This comes despite the fact that Dogecoin remains down nearly 90% from its May 2021 peak of around $0.73. IntoTheBlock’s In/Out of the Money gives the percentage of addresses that are profiting (in the money), breaking even (at the money), or losing money (out of the money) on their positions at the current price. The In/Out of the Money indicators also look at unrealized profits and…

OpenSea announces migration to Seaport protocol

June 23, 2022June 15, 2022 CRYPTO WORLD

OpenSea, the most popular nonfungible tokens, or NFTs, marketplace by trading volume, announced that it was migrating to Seaport. Among many perks, the protocol says it will feature lower gas fees, the ability to make offers on entire collections, removal of new account initialization fees and more user-friendly signature options. As told by OpenSea, users would pay 35% less for gas fees when transacting on Seaport. Based on data from 2021, it would amount to an estimated $460 million (138,000 ETH) in total savings. In addition, the removal of the…

MicroStrategy will hold onto its Bitcoin however the market performs

June 20, 2022June 15, 2022 CRYPTO WORLD

The recent market downturn has spurred Michael Saylor to publicly state that MicroStrategy is not in danger of being liquidated. The company’s financial reports seem to back his claim. Michael Saylor insists that MicroStrategy is not at risk of liquidation despite the recent Bitcoin crash. The MicroStrategy CEO retweeted a May 10 post today in which he laid out the company’s financial situation. In the original post, MicroStrategy claimed that it would only be at risk of getting liquidated on a $205 million loan it received to buy Bitcoin if…

Bored Ape NFT Floor Price Falls to $88,155 as ETH’s Value Takes a Battering

June 17, 2022June 15, 2022 CRYPTO WORLD

The floor price of major non-fungible tokens has fallen substantially as the crypto winter worsens. This metric illustrates how much the cheapest NFT in a collection currently costs. Data from NFT Price Floor shows the least expensive Bored Ape now costs 78.5 ETH. At current rates, that’s worth just $88,155 — a painful retracement considering all these NFTs have commanded six-figure price tags for the best part of a year. Bored Ape holders have suffered a double whammy. Not only has their value in ETH plunged as the bear market…

Cryptocurrency Market Wipes Out $2 Trillion in Value Since November Peak

June 16, 2022June 15, 2022 CRYPTO WORLD

The cryptocurrency industry has wiped out about $2 trillion in value since hitting a $2.9 trillion peak in November 2021. All of the major digital tokens are deep in the red this year. Bitcoin has slumped more than 53 percent to around $22,000. Ethereum has lost 68 percent to about $1,200. Cardano has plunged 65 percent to below 50 cents. Dogecoin has collapsed 68 percent to roughly a nickel. Litecoin has cratered nearly 70 percent to under $50. Bitcoin and its crypto peers could be leading the financial markets lower,…

Coinbase to lay off 1100 employees

June 15, 2022 CRYPTO WORLD

Coinbase is the latest crypto firm to take an axe to its workforce, outlining plans to lay off around 1100 people – 18% of its workforce – as it looks to cut costs in the face of “current market conditions”. In an SEC filing, the firm says it will reduce its workforce to about 5000 this quarter – by 30 June. The move will cost between $40 million and $45 million in severance and other termination benefits. Coinbase had already put in place a hiring freeze and rescinded a host…

Ethereum just completed a successful dress rehearsal for its most important upgrade ever

June 9, 2022 CRYPTO WORLD

Ethereum just completed its first big dress rehearsal for a long-awaited makeover that will be its most significant overhaul since the digital currency was launched nearly a decade ago. Cryptocurrencies such as ethereum and bitcoin are often criticized for the process of mining to generate new coins. Both currently use a so-called proof-of-work mining model, involving complex math equations that massive numbers of machines race to solve. Ethereum has been working to shift from the energy-intensive proof-of-work method for securing the network to a proof-of-stake model, which requires users to…

Solana surpasses $2 billion in all-time NFT sales, is SOL worth buying?

June 6, 2022 CRYPTO WORLD

Solana SOL/USD is a blockchain platform that made a reputation for itself due to its high speed as well as efficiency. The SOL token is the native cryptocurrency used to pay for the transaction fees on top of the network, and ever since the launch of the project in 2017, Solana has grown into one of the largest projects that facilitate non-fungible tokens (NFTs), among decentralized applications (dApps). Solana has become the go-to blockchain network for non-fungible tokens (NFTs) throughout the past few years due to the fact that it…

Investors dumping on Terra as LUNA 2 tanks 70% in two days

May 30, 2022 CRYPTO WORLD

The price of Terra (LUNA) has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28. Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens, also referred to as LUNA 2, are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST). According to data from CoinGecko, LUNA has dropped roughly 69% since its opening of $18.87 on Saturday to sit at around $5.71 at the time of writing. At this stage,…

Monero enters ‘overbought’ danger zone after XMR price gains 75% in two weeks

May 23, 2022 CRYPTO WORLD

XMR-USD four-hour price chart featuring RSI and rising wedge setup. TradingView

Monero (XMR) price may witness a sharp pullback by June because its 75% rally in the last two weeks has left the gauge almost “overbought.” Monero price RSI meets rising wedge Downside risks have been mounting due to XMR’s relative strength index (RSI), which almost hit 70 this May 23, indicating that the market is considered overvalued. An oversold RSI could amount to a bout of declining moves, as a rule of technical analysis. Additionally, Monero is also painting a bearish reversal pattern, dubbed the rising wedge. Rising wedges form…

Robinhood to allow users hold their own crypto and NFTs

May 18, 2022 CRYPTO WORLD

Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced Tuesday it will let users hold and custody their own cryptocurrencies and NFTs in a separate, stand-alone app. It’s the latest move in the digital asset space for Robinhood as it reaches for growth beyond stock trading. The company shares are off more than 70% since its IPO. The new app will put Robinhood squarely in competition with Coinbase and start-ups like MetaMask. Coinbase CEO Brian Armstrong called his company’s product the…