InCoin Eng (crypto news)

2022-02-24 15:38:01 Whale Alert tracked two large XRP transactions

According to a large transaction tracking bot called Whale Alert, a couple of hours ago there was unusual activity from XRP kits that moved $30 million worth of tokens.

Both transactions were linked to the Bitstamp cryptocurrency exchange, one of which involved an unknown wallet transferring 20 million XRP tokens worth $14.2 million.

The first transaction was from the Bitstamp exchange to another anonymous wallet, which currently contains 111 million XRP and is owned by either the exchange or a large anonymous crypto-kit that trades on the Bithumb exchange.

The unknown wallet, which has transferred a large number of coins to Bitstamp, currently contains only 45 XRP. It is most likely tied to this exchange because it has consistently received a large number of incoming transactions from the exchange and has no contact with other XRP wallets.

If we talk about the price of XRP, the token has lost about 10% of its value in 24 hours. Open / Comment

2022-02-23 19:17:01 Terra launches $1 billion bitcoin "stabilization fund"

Luna Foundation Guard, a nonprofit organization, announced the successful completion of a $1 billion private sale of LUNA tokens. The funds will be used as a reserve for the UST steblecoin.

Venture capital firms such as Jump Crypto, Three Arrows Capital, GSR, Tribe Capital and others participated in the token sale. According to the announcement, the money received will be converted into bitcoins and used as a reserve fund for the UST algorithmic stackablecoin, which is used in the Terra ecosystem. The choice of bitcoin as an asset to hold reserves is dictated by the fact that the first cryptocurrency "loosely correlates with the Terra ecosystem."

"Algorithmic Stablecoins are often criticized because of the possibility of "default" when the amount of sell orders exceeds reserves. A decentralized reserve can provide additional opportunities during UST drawdown cycles," the developers note. Open / Comment

2022-02-23 17:35:08 Avalanche (AVAX) beat Solana (SOL) and Tron (TRX) in TVL

Avalanche's (AVAX) growing popularity has helped it surpass Solana (SOL) and Tron (TRX) in January 2022 in terms of total value of blocked assets in the protocol (TVL).

In January the total value of assets blocked in the Avalanche (AVAX) protocol exceeded that of its main competitors. According to BeInCrypto's research, the January TVL for the AVAX blockchain was $8.53 billion.

It's worth noting that this result represents a dramatic 27% drop from the TVL for December 2021 ($11.83 billion). However, this did not prevent Avalanche from maintaining its leadership position against SOL and TRX. Open / Comment

2022-02-23 15:23:01 Coinbase added support for Ledger hardware wallets

Coinbase, the largest U.S. bitcoin exchange, has added support for Ledger hardware cryptocurrency wallets to its Coinbase Wallet browser extension.

To celebrate the integration, Ledger released a limited edition Nano X Coinbase Edition. The devices are available for purchase at the manufacturer's online store.

"The Coinbase Wallet is your pass to collecting NFTs, participating in DeFi, joining DAO and more. As you begin to spend more of your life on blockchain, it's more important than ever to keep your assets safe," the statement said.

The company expects the integration of Ledger wallets will provide additional layers of protection.

"The hardware wallet ensures that only the user who physically owns the device can complete it," Coinbase explained. Open / Comment

2022-02-23 13:52:01 Arcane Research pointed to an increase in bitcoin's correlation with the S&P 500

Heightened geopolitical tensions have led to increased correlation between the first cryptocurrency and the U.S. stock index S & P 500. This is stated in an analytical report by Arcane Research.

According to the researchers' observations, the 90-day correlation between BTC and the "barometer of the U.S. economy" reached its highest level since October 2020. By contrast, bitcoin's statistical correlation with gold has turned negative.

"Gold acts as a low-risk asset during this period of significant geopolitical uncertainty," the experts shared.

Arcane Research also noted the return of the cryptocurrency "fear and greed index" to around the 20 mark, which indicates the prevalence of panic sentiment among market participants. Open / Comment

2022-02-20 20:50:11 OpenSea initiated an investigation into NFT user theft

NFT marketplace OpenSea has initiated an investigation over a "rumored exploit" related to its smart contracts. The company said it was a phishing attack - no problems were found on the platform side.

"We are actively investigating a rumored exploit related to OpenSea smart contracts. It appears to be a phishing attack coming from a third-party resource. Do not click on links outside of opensea.io," the statement said.

On February 19, reports of thefts of non-exchangeable user tokens from the platform surfaced online. There were rumors of a $200 million hack, but OpenSea co-founder Devin Finzer denied the information. According to him, the attacker has $1.7 million in ETH at his address, which he received from the sale of some of the stolen NFTs. Open / Comment

2022-02-20 19:41:01 Meta registers cryptocurrency products in Brazil

Meta has applied for trademark registration in Brazil and the Brazilian National Institute of Industrial Property (INPI) for crypto products and services related to trading, wallets and exchange platforms.

IPNI is the National Institute of Intellectual Property and is a French administrative public institution. Its responsibilities include accepting applications and granting industrial property rights (licenses/patents). Meta applied earlier this year and is on hold; once this is done, Brazilians will know more about cryptocurrencies.

Meta published its application for registration relatively recently and is now waiting for INPI approval. As you can see from the application itself, it was first posted on October 5 last year. Open / Comment

2022-02-20 18:36:01 Who found a "nuclear bomb" on Coinbase will receive a $250,000 reward

Cryptocurrency exchange Coinbase will pay $250,000 to a Twitter user named Tree of Alpha who discovered a "market nuclear bomb."

Tree of Alpha found a bug in the Coinbase trading platform that allowed him to cheat the system and sell Ethereum (ETH) as bitcoins. He transferred 0.024Z ETH from his account to exchange 0.024Z BTC to dollars and made about $1000 instead of $70.

On February 11, the trader asked for help in contacting Coinbase management to submit a report on the platform vulnerability. Exchange representatives confirmed the error and promptly fixed it.

The company will award Tree of Alpha $250000 for finding the bug. Interestingly, decentralized financial services pay much more for bug finding. For example, the Wormhole protocol set a $10 million bonus for identifying vulnerabilities. Open / Comment

2022-02-19 21:09:00 Bitcoin continues to fall amid depleted demand

Over the past 24 hours, bitcoin has lost another 2% and once again fell below $40,000, reaching its lowest point in two weeks. The key factor analysts believe the technical indicators, which reflect the current bearish trends. During the recent surges, the first cryptocurrency failed to consolidate above key exponential moving averages, indicating a lack of sufficient investor support.

The cryptocurrency market may also have reacted reflexively to geopolitical tensions and fluctuating macroeconomic indicators.

As there is now a heightened correlation between bitcoin and the stock market, traders expect further rate declines with temporary spikes and increased volatility. At the same time, the decline should be limited, as the weakening of the downward trend points to a return to the $30-40k range.

ICB Fund believes that BTC could close February in a slight surplus, but continue to fall in March. Open / Comment

2022-02-19 19:27:01 NFT artist PunkMeTender helps fight for women's rights

Punk Angels is a new digital project created by a Los Angeles-based artist under the pseudonym PunkMeTender. It is an NFT collection, aWebZ incubator, and also marks the launch of a movement advocating for social change.

The creator of the collection, Romain, also known as PunkMeTender, was introduced to graffiti by a respected street artist named Thierry Guetta. They worked together for over 15 years creating outstanding works of art, some of which ended up in the collection of celebrities such as Khloe Kardashian, Kylie Jenner and Mariah Carey. In 2016, Romain launched his own venture, PunkMeTender.

The NFT Punk Angels collection includes over 8,888 unique "punk angels," which, according to the artist, represent freedom, inclusivity, empowerment, bringing art, fashion and social change to the meta universe. Open / Comment