InCoin Eng (crypto news)

2021-12-17 16:45:15 Dogecoin blockchain network releases NFT for the first time

Blockchain network Dogecoin for the first time had its own non-exchangeable token (NFT). A DOGE developer nicknamed @inevitable360 tweeted about it on his Twitter page. According to the transaction details, a collage with the altcoin logo was released online.

The developer used the SHA-256 algorithm to create the hash. The transaction fee was only 0.1 DOGE (~$0.017 at current exchange rate). The developer has already allowed the creation of an NFT-marketplace based on the Dogecoin blockchain. At the time of writing, the price of DOGE in the pair DOGE/USD is $0.17.

In addition to Dogecoin, NFT technology is supported by Ethereum, Flow, Binance Smart Chain, Solana blockchain networks, as well as sidechains like Ronin. Messari calculates that secondary sales of NFT tokens have surpassed $15 billion, with the Ethereum network accounting for nearly $10 billion of that amount. Open / Comment

2021-12-16 19:16:02 Head of Kraken commented on bitcoin decline

The head of cryptocurrency exchange Kraken, Jesse Powell, admitted the onset of a new cryptozyma. Speaking to Bloomberg, he noted that bitcoin could fall below $40,000 and it should be seen as a "buying opportunity."
According to Powell, the market for the first cryptocurrency is cyclical, with halvings being the starting points for these phases. The previous decline in miners' fees occurred in May 2020, with the next one expected in March 2024.

Despite the possible approaching cryptozyma, the head of Kraken believes the price of digital gold will recover quickly as investors start buying assets.

"I think a lot of people are looking at prices below $40,000 as a buying opportunity. I personally was buying when we were down to almost $30,000 a few months ago. A lot of people are just waiting to get back into the market at the lowest prices," he said. Open / Comment

2021-12-16 16:30:33 How much money have cryptoprojects lost in 10 years to hackers?

Crystal Blockchain analysts prepared a report on hacking and fraud in the cryptocurrency industry for the period from 2011 to 2021. The equivalent of user losses in fiat currencies is growing along with market capitalization. While in early 2014 the disappearance of 850,000 BTC from MtGOX balances was estimated at "only" half a billion dollars and was the largest hack in the world, in recent years, loss figures of hundreds of millions of dollars no longer surprise anyone.

Since 2020, nearly half of all cryptocurrency hacks were related to DeFi projects. In the first 8 months of 2021, losses at DeFi accounted for nearly 54% of all criminal activity in the industry.

Over the past ten years, there have been 120 security attacks, 73 attacks on DeFi projects, and 33 fraud schemes that have resulted in the theft of crypto assets totaling about $12.1 billion. Open / Comment

2021-12-15 18:55:15 CoinMarketCap failure disrupted services and applications

Due to an error in CoinMarketCap's website, some cryptocurrency platforms and applications were automatically shut down to avoid a disaster.

Tonight, due to a technical glitch, the cryptodata aggregator was incorrectly displaying prices of digital assets and other value-dependent indicators for several hours. At that time, bitcoin on SMS reached $872 billion and its market capitalization exceeded $14.71 quintillion, for ethereum the values were $81 billion and $83.09 quintillion respectively.

At the time, even the company itself joked about this, asking users what it felt like to become trillionaires.

Since some wallets, smart contracts, DeFi protocols, exchanges, trading bots and other services use CoinMarketCap as a data source, many of them were suspended for the duration of the failure to ensure user safety. Open / Comment

2021-12-15 14:28:02 Whale Alert tracked several large transfers of 285.9 million XRP

Whale Alert reported that crypto-giant Ripple, some of its ODL platforms and major cryptocurrency exchanges transferred a whopping 285.9 million XRP in the last day. The largest transaction included 100 million, with tokens moving between the domestic wallets of the South Korean exchange Bithumb.

Ripple and some of its ODL corridors were also involved in these transfers. 20 million XRP were sent from Ripple's RL18-VN wallet to the Philippine exchange Coins.ph.

Ripple's other ODL partner, Mexican exchange Bitso, sent 19,800,000 XRP between its internal addresses. The U.S.-headquartered exchange Bittrex also transferred 20 million XRP to the European platform Bitstamp. Other exchanges that exchanged XRP include South Korea's Coinone and FTX. The latter sent 1Z 618 010 XRP to HitBTC.

The total amount of XRP sent in these eight transactions is estimated at $2Z1,757,792 at a current price of $0.81 on CoinGecko. Open / Comment

2021-12-14 20:02:01 Elon Musk: Tesla will start selling goods for Dogecoin

The world's richest man and a big fan of Dogecoin, Elon Musk, has just announced that Tesla plans to launch some merchandise to sell Doge to "see how it goes,".

This is exactly what DOGE fans have long been waiting for, asking Musk to allow Tesla to accept the meme cryptocurrency for its electric cars.

Elon Musk stated that Dogecoin is much more convenient for payments than Bitcoin. However, he mentioned BTC as a store of value.

"Tesla will make some products available for purchase with Doge and see how it goes." wrote Musk on his Twitter today.

The price of Dogecoin jumped 20% on his tweet, rising to $0.20. Open / Comment

2021-12-14 17:11:01 Ripple Xumm Wallet app changes name and site

Xumm Community, the Ripple Xumm Wallet app, is now called Xrpl Services. The name of the main online platform has also changed accordingly - it is now xrpl services.

However, the creators noted that the old site will still coexist alongside the new one for now. The timeframe while it will be up and running was not specified.

Wits Wind, the developer of Xumm Wallet, congratulated the creators of the app for this update. He said it will now be clearer that their tools are not developed by XRPL Labs, the team that creates the software for the Ripple XRP Ledger.

It was previously known that Xumm would get tools for fiat transactions. Open / Comment

2021-12-13 17:43:01 NFT artist breaks price record at auction

Popular digital artist Pak sold about 250,000 non-transferable tokens (NFTs) for a total of $91.8 million on the Nifty Gateway trading floor - now considered the highest initial price paid at auction for a live artist's work.

The Merge Collection of Art was sold between Dec. 2 and Dec. 4, allowing buyers to purchase an unlimited number of bulk pieces, according to the marketplace's website.

According to the marketplace, Merge Collection has a "built-in scarcity mechanism" that ensures that the supply of tokens decreases over time. "Each merge token transfer combines it with a token in the recipient's wallet, adding up the value of Mass and resulting in one token," the report said. Open / Comment

2021-12-13 15:30:28 $100 million stolen from users of NFT marketplace Vulcan Forged

An attacker stole nearly $100 million in PYR tokens from the non-replaceable token marketplace (NFT) that Vulcan Forged spoofed, according to Twitter. The team has launched an investigation.

Vulcan Forged, an NFT marketplace, announced Dec. 13 that 148 wallets containing its PYR token had been compromised. An attacker stole more than 4, 5 million PYR tokens worth just under $100 million.

The team is working to replace the stolen PYR tokens, but the investigation has just begun. The PYR token has fallen more than 10 percent since the theft was announced and continues to decline.

The PYR tokens will be replaced with funds in the treasury.

The team provided details about the wallet used in the attack and also contacted exchanges to blacklist the address. The owner may have even provided the wallet's KYC details to the exchanges. If this is true, the investigation should be swift and effective. Open / Comment

2021-12-12 20:04:01 Ripple CTO Criticizes Shiba Inu

David Schwartz, Ripple CTO and creator of XRP Ledger criticized Shiba Inu, joking that losing a billion SHIB tokens would be tantamount to losing a paltry $1.37. Shiba Inu has a total of 1 quintillion tokens.

Schwartz's joke came after $33.4 million worth of SHIB tokens were stolen from the BitMart exchange last week. There has been some controversy between supporters of SHIB and Ripple XRP because of this tweet from Ripple's CTO.

Earlier, it was reported that Ripple partner Nium had partnered with Modern Exchange Co. John Deaton also named a scenario for Ripple to win in court. Open / Comment