Seed phrases, a random combination of words from the Bitcoin Improvement Protocol (BIP) 39 list of 2,048 words, act as one of the primary layers of security against unauthorized access to a user’s crypto holdings. But what happens when your “smart” phone’s predictive typing remembers and suggests the words next time you try to access your digital wallet? Andre, a 33-year-old IT professional from Germany, recently posted on the r/CryptoCurrency subreddit after discovering his mobile phone’s ability to predict his entire recovery seed phrase as soon as he typed down the first word. As a fair warning to fellow Redditors …
Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 — nearly $80 million. On Saturday, Fei Protocol informed its investors about an exploit across numerous Rari Capital Fuse pools while requesting the hackers to return the stolen funds against a $10 million bounty and a “no questions asked” commitment. We are aware of an exploit on various Rari Fuse pools. We have identified the root cause and paused all borrowing to mitigate further damage. To …
A new rule imposed by Belgium’s financial regulatory agency, the Financial Services and Markets Authority (FSMA), will now require crypto exchanges and custodial wallet services in the region to register within a sharp deadline. Starting tomorrow on May 1, legal individuals and entities that wish to provide crypto exchange services or custodial wallets in Belgium will have to register in advance, according to the information released by the FSMA. As from 1 May 2022, providers of exchange services between #virtual #currencies and legal currencies, or custody #wallet services will have to register with the #FSMA. Please consult the FAQs. https://t.co/P44mkovn5L …
The total crypto market capitalization has been holding a slightly ascending trend for the past three months, and the $1.75 trillion support was most recently tested on April 27 as Bitcoin (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27. The crypto market’s aggregate capitalization showed a 3.5% decrease in the last seven days. Meanwhile, notable losers were an 18.8% loss from Ripple (XRP), a 10.2% loss from Cardano (ADA) and a 9.7% drop in Polkadot (DOT) price. Analyzing a broader range of altcoins provides a more balanced picture that includes 25% gains from some gaming and …
For years, cryptocurrency advocates have touted the world-changing capability of digital currency and blockchain technology. Yet with the passing of each market cycle, new projects come and go, and the promised utility of these “real-world use case” projects fails to satisfy. While a majority of tokens promise to solve real-world problems, only a few achieve this, and the others are mere speculative investments. Here’s a look at the three things cryptocurrency investors can actually “do” with their coins. Lending Perhaps the simplest use case offered to cryptocurrency holders is also one of the oldest monetary applications in finance: lending. Ever …
Avalanche (AVAX) price is down more than 30% in April, but despite the negative price move, the smart contract platform remains a top contender for decentralized applications due to its scalability, low-cost transactions and its large footprint in the decentralized finance (DeFi) landscape. The network is compatible with the Ethereum Virtual Machine (EVM) and unique in that it does not face the same operational bottlenecks of high transaction fees and network congestion. Avalanche was able to amass over $9 billion in total value locked (TVL) by offering a proof-of-stake (PoS) layer-1 scaling solution. This indicator is extremely relevant because it …
The U.S. dollar index (DXY) turned down from its 20-year high on April 29 but that has not changed the bearish price action seen in Bitcoin (BTC) and the U.S. equity markets. Equities remain under pressure and this week, Amazon stock saw its biggest intraday drop since 2014 after uncertainty over the U.S. Federal Reserve’s tightening measures placed investor sentiment back into choppy waters. If Bitcoin extends its correction, on-chain analysis platform Whalemap believes that the $25,000 to $27,000 zone may be the best place “to go all-in” on Bitcoin. Long-term investors do not appear to be panicking over the …
At least three market catalysts show that Dogecoin (DOGE) could climb by at least 50% by the end of Q3 2022. Falling wedge breakout in play Dogecoin has been painting a “falling wedge” pattern on its longer-timeframe charts since May 2021, hinting at the potential for a bullish reversal in the coming months. Falling wedges appear when the price trends lower inside a range defined by two descending, converging trendlines. Their occurrence coincides with declining trade volumes, suggesting that trading activity slowed down due to the narrowing price range. A break of the wedge to the upside, coupled with a …
Roger Ver, an early investor and ardent promoter of Bitcoin (BTC), which earned him the moniker “Bitcoin Jesus,” has resurfaced on Twitter after a year and backed Dogecoin (DOGE) in an interview, preferring it for payments over the world’s first crypto. In an interview with Bloomberg, the Bitcoin.com founder said how he was a fan of the memecoin due to its fast transaction times and low fees: “Dogecoin is significantly better, it’s cheaper and more reliable [than Bitcoin]. If I had to pick three contenders for the world’s dominant cryptocurrency, they would be Doge, Litecoin and Bitcoin Cash.” Ver also …
As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market. Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed a strong affinity for various financial opportunities brought forward by decentralized finance (DeFi) and other investment opportunities. As explained by Raks Sondhi, managing director of Independent Reserve Singapore, the country’s rapid crypto adoption is driven by high level of trust and confidence in the future …
As told via a Twitter post on Tuesday, Toncoin (TON)'s independent developers have rolled out crypto payment options on Telegram using a Wallet Bot. To access the feature, users first need to opt in via the Wallet Bot on Telegram, which allows them to purchase cryptocurrency by bank card, exchange and transfer to other wallets. According to the company, they can then send Bitcoin (BTC) or Toncoin to other users by clicking on the “Wallet” icon in direct messages. You can now send #Toncoin directly within Telegram chats! It’s a new way to send Toncoin without transaction fees to any …
The nonfungible token (NFT) and Metaverse sectors have been the bright spots in an otherwise sideways crypto market in 2022 and proof of this comes as the APE token hit a new all-time high at $22.60 on April 28. The steady bullish momentum for APE is, in large part, due to the upcoming The Otherside land auction being held by Yuga Labs and Animoca Brands in conjunction Bored Ape Yacht Club NFT project on April 30. The Otherside launch will consist of a Dutch auction-style sale and only Know Your Customer (KYC)-approved wallets will be allowed to participate in the …