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Recently, stablecoins have faced a very difficult situation. The reduction in the overall level of capitalization reached $127 billion. Such values have not been seen since the summer of 2021. The market share fell to 10.3%. Source: CCData The reason for this fall, experts say the collapse of the participants in the banking system, as well as excessive pressure from regulators. For example, the loss of USDT collateral due to the collapse of SVB could reach 20%. However, comprehensive support measures have helped clients keep their deposits. However, the credibility of the most stable coin of all cryptocurrencies has suffered.…
Ethereum (ETH) renewed its yearly high on July 14, but then began to decline and broke through the ascending support line, confirming the correction. Will the area stand $1800 While the price action reinforces the bearish breakout, wave analysis suggests that a bottom will be reached soon. After that, ETH will resume growth. Ethereum breaks support As the results of the technical analysis of the daily chart show, Ethereum is giving mixed signals. Since June 10, the price of ETH and the rising support line (solid line on the chart) have been rising. As long as the line remained unbroken,…
Exchange.art NFT marketplace based on the Solana network will soon switch to multi-chain technology and integrate Ethereum support. The press service of the site stated that the process will begin on August 1, 2023. More than 80 digital art artists who work on the basis of the Ethereum network will participate. They will include Sotheby’s Glitch Art contributor Patrick Amadon and Amber Vittoria. Exchange.art COO Larisa Barbu said that Exchange.art has always had plans to “go beyond Solana.” The project sought to recruit new creators and collectors. “The vision for Exchange.art is to become a hub for digital art and…
The price of Bitcoin “fell out” of the range in which the cryptocurrency was traded for almost a whole month. In general, on the first wave of the drain, BTC dropped down to 29 thousand dollars. The new market collapse is caused by several factors at once, one of which is the state of the US economy. On top of that, bitcoin mining difficulty will soon fall to a record high since the beginning of this year. Let’s take a closer look at each of the above factors. Yesterday, Bitcoin managed to sink from 30.2 to 29 thousand dollars. The…
The Italian company Azimut Group, which manages assets worth more than $87.2 billion, fell victim to the BlackCat ransomware group. The firm released a public statement on the matter. The incident happened on July 21st. According to Ransomware.live, the hackers claimed they were able to steal “more than 500 GB of data,” including supposedly complete customer financial information, company records, stocks, and antique purchases. Threatening the company with a data leak, BlackCat demanded an undisclosed ransom amount. However, Azimut Group rejected the extortionists’ demands. The company acknowledged the presence of “unauthorized access” to its systems, but assured that the personal…
The cryptocurrency community on Twitter is once again rattled by yet another attack on the decentralized finance (DeFi) sector protocol. This time the victim was a lending project in the zkSync EraLend network. Well-known journalist Colin Wu reported this with reference to specialists from the blockchain security team from Spreek. According to initial data, users of the protocol lost approximately $1.7 million. Such information was provided by Spreek researchers in the first minutes after the attack. Experts claimed that cybercriminals stole digital assets in USD Coin (USDC) stablecoin. They also stressed that members of the EraLend team said: “The attack…
Last month, Bitcoin (BTC) posted a significant price spike, fueled by growing optimism about the possible approval of a bitcoin exchange-traded fund (ETF). This event was seen as a potential catalyst for greater adoption of cryptocurrencies among organizations. However, after peaking just above $31,400 earlier this month, the leading cryptocurrency has corrected to a current value of around $29,000. To get a better idea of Bitcoin’s potential price movement for the rest of the year, 29 financial experts were asked to give their opinion on the matter. According to Finder.com results, market experts expect the world’s largest cryptocurrency to rise…
Solana-based ATMTA announces restructuring and downsizing. Game Web3-studio, which launched the popular game Star Atlas, announced a major change in its activities. According to the management of the organization, difficult market conditions became the reason. Representatives said that only 45 people would remain in the team. They recalled that at the end of 2022, at the peak, the number of employees was 235. However, after the collapse of the FTX exchange, 167 of them had to be fired. ATMTA’s CEO released a detailed statement. He outlined all the activities of the organization. According to him, a significant reduction in the…
ZachXBT tweeted about the Alphapo hot wallet heist. Additionally, it is reported that TRON and BTC worth $37 million were stolen. The total amount of funds stolen from Alphapo has now risen to $60 million. The robbery raised security concerns and exposed potential vulnerabilities in the crypto ecosystem. According to previous ZachXBT monitoring reports, it was initially reported that Alphapo’s hot wallet was hacked and resulted in the theft of $23 million. In response to the attack, the Alphapo HyperDrop client took immediate action by disabling withdrawals to prevent further losses. An investigation into the theft revealed a tangled web…
The third Litecoin halving will happen in a few days. In anticipation of this important event, analysts and crypto enthusiasts are speculating about LTC price dynamics We will tell you how the Litecoin halving works, why it is so important for crypto investors and miners, and what to expect from the LTC price this time. Source: NiceHash What is Litecoin halving Halving is an event during which the reward of miners for mining a block is halved. This mechanism allows you to control the rate of inflation of a crypto asset and create a deficit that can increase its value…