NFT News Official TheBitTimes.com

Some analysts have provided possible ways the exchange was exploited and pinned potential initial losses at over $600,000. Decentralized exchange LeetSwap, which operates on Coinbase’S Base network has announced a sudden pause to trading , citing concerns of a potential exploit . LeetSwap tweeted on Aug. 1 that it noticed some of its liquidity pools may have been compromised and has temporarily able stopped trading to investigate. Algorithmic market maker Wintermute’s research head Igor Igamberdiev was among those sharing theories on how the exploit may have worked, saying the attacker could have used an exposed smart contract function. Related: Pro-XRP lawyer Jeremy Hogan’s scam tweet bonanza finally falls silent The function would have allowed them to undertake a series of token swaps eventually allowing them to drain liquidity pools on LeetSwap. It was easy: - swap a bit of WETH for X tokens (should have fees) - call _transferFeesSupportingTaxTokens(address, uint256) to move tok...

Jul 31, 2023 at 10:10 // Price Author Coin Idol Quant (QNT) price is regaining upward momentum after rising above the moving average lines. Quant long-term price forecast: bullish Earlier, the cryptocurrency asset recovered from its previous downturn and resumed a sideways pattern. The price of QNT fluctuated between $96 and $120. Buyers made two unsuccessful attempts to break the barrier at $120. Today, QNT is rising and reached a high of $112.83. The price of the cryptocurrency is rising as it prepares to test the barrier for the third time. On t...

The U.S. Senate has approved the 2024 National Defense Authorization Act (NDAA). The bill included a provision to strengthen regulatory scrutiny of financial institutions involved in crypto trading, particularly mixers and anonymity-enhancing tokens, focusing on enhancing oversight and transparency of crypto transactions. Bipartisan senators unite to propel crypto regulation The bipartisan group of U.S. Senators, including Kirsten Gillibrand, Cynthia Lummis, Elizabeth Warren, and Roger Marshall, had proposed this amendment. They highlighted that this step taken by Congress is one of the most significant actions regarding crypto assets regulations in the U.S. up to this point. The provision entails the Secretary of the Treasury establishing examination standards for crypto assets. This step aims to assist examiners in effectively evaluating risk and ensuring adherence to anti-money laundering and sanctions regulations. Read more: US Treasury Secretary Yellen wants more ...

The British Museum, well-known for its vast assortment of global artwork and historical objects, has joined forces with The Sandbox, a reputable player in the crypto and metaverse scene. This announcement marks a new journey for the British Museum, marking its transition into digital experiences, an evolution increasingly being adopted by traditional cultural institutions. The British Museum, founded in 1753, has pledged to become a “museum of the world, for the world.” As the world becomes more digital, this mission becomes even more critical. By exploring digital platforms, the museum strives to apply this longstanding principle to modern, technology-focused circumstances. Immerse yourself in a world of history, art, and culture of the @britishmuseum as digital collectibles and metaverse experiences…inside The Sandbox! In collaboration with @LaCollectionOffhttps://t.co/ksihwcbUFf — The Sandbox (@TheSandboxGame) July 27, 2023 The partnership with The Sandbox,...

The key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Nonfungible tokens (NFT) adoption is picking up steam across the food and beverage industry, with many fast-food chains displaying interest in this new asset class.  A report by ResearchAndMarkets.com states that the global food & beverage NFT market size is expected to reach USD 2,134.04 Million by 2032. These statistics have been evident as recently, Global fast-food brands , including Pizza Hut and Papa John’s, are discovering new ways to integrate NFTs into their marketing strategies.  The report states that the key supporting factors for the market are the adoption of blockchain technology and the demand for NFTs for transparency and traceability in the food industry. Unique ownership opportunities, using NFTs in virtual reality and video games, promotions and advertising from food companies and restaurants are o...

Bitcoin casts off a U.S. GDP "nothingburger" but DXY charges to two-week highs in what is traditionally a BTC price headwind. Bitcoin (BTC) ate away at the prior day’s gains on July 27 as United States macroeconomic data produced a muted reaction. BTC/USD 1-hour chart. Source: TradingView Analyst warns of BTC price dip Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning after a brief push to $29,680 into the daily close. The largest cryptocurrency had offered a modest uptick after the Federal Reserve hiked interest rates to their highest since 2001 — a move already price d in by markets. The day’s U.S. GDP advanced print for Q2 came in better than forecast at 2.4% annualized, pointing to inflationary pressures continuing to ebb in what could prove a catalyst for risk asset performance. Bitcoin did not noticeably react, however, with stocks likewise fairly flat after the Wall Street open. Michaël van de Poppe, founder and CEO of trading firm...

A “major leading indicator” for Bitcoin is pointing the way toward a classic repeat of bullish BTC price phases, analysis says. Bitcoin (BTC) is facing the prospect of a “big bull move” as stablecoin buying power returns, on-chain data hints. Analysis courtesy of on-chain analytics platform CryptoQuant now shows stablecoin supply metrics repeating historical bull market patterns. “Major leading indicator” flips bullish for BTC price Bitcoin is in peak accumulation mode, according to CryptoQuant’s stablecoin s ratio metric, and the results have always been positive for BTC price action. As noted by market cyclist and on-chain analyst Cole Garner, when denominated in United States dollars, the stablecoins ratio for exchange Bitfinex recently hit its highest since late 2022. This came at a time when markets had sold off significantly after the FTX meltdown, paving the way for a resurgence that took the BTC price 70% higher in Q1 alone. “Bitfinex Bitcoin to stables ratio blows up in adv...

According to crypto analyst Austin Hilton, holding 500 XRP tokens might be enough to turn an investor into a millionaire. Hilton cites Kenny Nguyen as his source, who claimed that certain events may skyrocket the token’s price. Currently, buying 500 XRP tokens would cost around $335. For this investment to become a million dollars, it would need to rally by 298407.46 %. However, before such a rally can take place, a few events need to occur for the project. The first event, which has already somewhat taken place, is Ripple’s victory against the SEC (Securities and Exchange Commission). A US court made a historic ruling that XRP tokens are no securities, contradictory to the agency’s lawsuit. The second event is the re-listing of the token on exchanges that removed it during the trial. Several prominent exchanges have already begun trading for the token after years of absence on their platforms. Also Read: XRP: List of Exchanges That Have Re-listed the Crypto...

The CFTC has accused Tennessee-based real estate business owners of running a fraud ulent crypto scheme that allegedly swindled over 100 individuals out of more than $6 million. The Commodity Futures Trading Commission (CFTC) initiated a lawsuit against Michael and Amanda Griffis on July 25, a couple residing in Tennessee, who allegedly exploited their real estate business clientele to conduct a crypto scheme. The Griffises, who own EXIT Realty Screamin’ Eagle, are said to have deceived over 100 individuals, raising more than $6 million in the process. The elaborate fraud involved a digital asset commodity pool, ironically titled “Blessings of God Thru Crypto.” The scheme appealed to investors with promises of outsized returns and a surefire opportunity to speculate on the future value of cryptocurrencies. Misrepresenting the security of investors’ funds, the Griffises claimed these resources would remain in their control and would be used to trade “...

Rain crypto exchange has secured a regulatory license from United Arab Emirates (UAE) authorities. Rain Exchange, a Bitcoin (BTC) trading venue headquartered in Bahrain, has secured regulatory approval from UAE authorities to operate its digital assets brokerage and custody platform. According to a July 25 report by Reuters, the approval will make it possible for the Coinbase Ventures- backed Rain to offer crypto trading and storage services for retail and institutional clients in the UAE. The exchange will also be able to open a bank account in the region and offer customers crypto -fiat exchange services. Founded during the crypto summer of 2017, Rain is backed by Coinbase Ventures and Kleiner Perkins. The exchange’s valuation skyrocketed to $500 million following a successful Series B round that raised $110 million in 2022. UAE attracting web3 firms  The United States has been quite reluctant to formulate clear-cut and amenable crypto laws to foster the growth of innov...

Russian President Vladimir Putin signed the digital ruble bill into law on July 24. President Vladimir Putin had given his official approval, signing the digital ruble bill into law, and thus, putting Russia on track with its central bank digital currency (CBDC) implementation plan. Based on an official governmental statement, the digital ruble law is set to come into operation from August 1, 2023, with all rules except for one due for enforcement. The one rule that was not immediately enforced pertained to amendments to multiple federal laws in Russia, encompassing inheritance and bankruptcy. These adjustments are set to be operational from August 2024. The legislative development in August allows the Russian central bank the power to launch the first real consumer CBDC pilot. This initial expectation had been for trials to kick off in April, involving collaboration with 13 local banks, with Sberbank, Russia’s biggest bank, among them. In line with the law that was jus...

Bitcoin begins to fulfil traders' downside targets as BTC price action retraces its steps in a crucial macro week. Bitcoin (BTC) enters the last full week of July on an uncertain footing as $30,000 becomes resistance. In what promises to be an exciting — but perhaps nerve-racking — week for traders, BTC price action is staring down a combination of volatility triggers. Chief among these is the United States Federal Reserve’s decision on interest rates, this headlining an important slew of macro data releases. Some hope that these alone will be enough to shake Bitcoin out of its month-long trading range, in which it has barely moved from the $30,000 mark. The market has so far offered little by way of cues as to where it might head next. That said, traders have become impatient, and increasingly believe that BTC/USD will ultimately break down from current levels to head toward $25,000 or even lower. Cointelegaph takes a look at the main factors in the debate over BTC price performa...

The number of active APT addresses reached 182,000 yesterday. On-chain data shows that 94,000 new accounts were created in just the past 48 hours. A technical pattern on APT’s daily chart suggested that a price breakout may be on the horizon. On-chain data shows that the number of active Aptos (APT) accounts reached 182,000 yesterday, which is also the highest number of addresses since the APT airdrop. Furthermore, the number of new accounts over the past 2 days exceeded 94,000. This surge in new APT holders may be linked to the integration of Chingari – a popular social media app in India. Daily active users and new accounts on Aptos (Source: aptscan) Meanwhile, CoinMarketCap indicated that the altcoin’s price rose 0.74% over the past 24 hours. As a result, APT was changing hands at $7.68 at press time. The cryptocurrency also strengthened against the market leaders Bitcoin (BTC) and Ethereum (ETH) by 0.48% and 1.67% respectively. This meant that 1 A...

Several Bitcoin price indicators suggest that BTC’s narrow trading range could end soon, resulting in a volatile price move in BTC and altcoins. Bitcoin continues to test investors’ patience, as it remains stuck inside a tight range. Although the near term is boring, traders need to be on their toes because narrow ranges are generally followed by a sharp increase in volatility. The only problem is that it is difficult to predict the direction of the breakout with certainty. Glassnode’s latest weekly newsletter highlighted that Bitcoin’s (BTC) consolidation has shrunk the Bollinger Bands, which are separated by just 4.2%. Citing various on-chain indicators, the authors concluded that investors are unwilling to sell, and in several aspects, it looks similar to “periods like 2016 and 2019-20, characterized by choppy market conditions.” Daily cryptocurrency market performance. Source: Coin360 Although Bitcoin’s near term may look uncertain, the long term remains bullish. Capriole Investme...

Cryptocurrencies are transforming lending practices. Crypto loans, or digital asset-backed or blockchain-based loans, can offer businesses and individuals perks that traditional lending mechanisms often struggle to provide.  Access to liquidity One of the primary advantages of crypto loans is their ability to provide quick access to liquidity. Traditional loan processes can be cumbersome and time-consuming, involving extensive paperwork and credit checks. In contrast, crypto loans leverage blockchain technology and smart contracts, enabling borrowers to access funds swiftly. This accessibility is particularly beneficial for businesses requiring immediate capital for operational expenses, investments, or growth initiatives. You might also like: Sequoia Capital shakes up crypto team after $214 million FTX loss No credit checks Traditional lending institutions heavily rely on credit checks to assess the creditworthiness of individuals and business es. This can be challengin...

The internet is flooded with stories about early Shiba Inu investors who turned millionaires are reinvesting in other cryptocurrencies. Read here and here to know more details about the phenomenal tales for a better and more in-depth understanding. If you clicked on those two links that we mentioned, you would know that new and upcoming cryptocurrencies are only using the Shiba Inu brand to further their name using the ‘SHIB millionaires’ tale. Also Read: Shiba Inu: A $2,000 Investment in SHIB Could Have Fetched $1 Billion Shiba Inu: SHIB Millionaires Are Buying More Cryptocurrencies? Source: Instagram / Nickelpack / Kenta Hayashi After making more than $1 million by investing in Shiba Inu during its early days, no data suggests SHIB millionaires are buying more cryptocurrencies. The ones that were brought early, were sold a year after SHIB reached its all-time high of $0.00008616 in October 2021, and most probably never returned to the cryptocurrency markets again. ...