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South Korea’s largest exchange , Upbit, suffered 159,061 attacks during the first half of 2023. According to the local media Yonhap, it is nearly 2.17 times more than in 2022. To fight back against the increasing trends of hacking attacks, the company increased the portion of funds it held in cold wallets by 70%. It also grew the security levels for its hot wallet funds. Upbit is currently one of the leading cryptocurrency exchange s in South Korea. The company has a trading volume of nearly $1.2 billion. Due to Binance regulatory issues, the company increased its market share by 5.5%. Upbit is gaining traction and attracting users in the competitive cryptocurrency exchange landscape. You might also like: Upbit falls victim to fraudulent deposit incident In 2019, the exchange experienced a significant hack, losing $51 million worth of Ethereum (ETH). Despite this setback, Upbit resumed its normal operations after a two-month hiatus, demonstrating its resilience an...

Is ERC20 Ethereum? Exploring the Fungible Tokens and NFTs Blockchain technology has revolutionized the digital landscape by introducing decentralized networks and enabling peer-to-peer transactions. One of the most significant developments in this field is the creation of tokens on the Ethereum blockchain. These tokens come in various forms, including fungible and non-fungible tokens (NFTs). In this article, we will explore the ERC-20 token standard, answer “Is ERC20 Ethereum?”, and the role in the proliferation of tokens on the Ethereum network. Also read: US Excess Savings Depleted, Will it Impact Stocks And Crypto? Source: Pixabay Understanding Fungible Tokens What are Fungible Tokens? Fungible tokens are digital assets that are interchangeable with one another. In other words, each token is identical in value and can be exchanged one-to-one. This interchangeability makes fungible tokens convenient for various use cases, such as digital currencies, loyalty...

Snook, a multiplayer game, is launch ing on Arbitrum, an Ethereum layer-2. The move is aimed at expanding its player base and introducing USDC, a stablecoin, to complement its native token, SNK. Snook deploys on Arbitrum, enhance gaming experience Snook is a fast-paced blockchain game focused on rewarding gamers based on their skill and effort to thrive in a kill-or-be-killed environment.  The player’s ability to perform directly decides the value of their non-fungible token (NFT) character that can be sold in the secondary market.  You might also like: US SEC may approve Ethereum futures ETFs next week The platform aims to enhance  gaming experience by ensuring that each player’s in-game character is an NFT with immutable records of their skills and achievements.  If a player’s NFT survives, they can continue participating in games, enhancing their traits and continuously increasing their value. The launch on Arbitrum allows the NFT-based game to e...

The amount of unclaimed Arbitrum (ARB) tokens accounts for 0.69% of ARB’s total supply of 10 billion. Arbitrum, a major Layer 2 solution for the Ethereum blockchain, has officially added the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to the Arbitrum’s decentralized autonomous organization (DAO) treasury on Sept. 24, the foundation announced on X (formerly Twitter). The foundation emphasized that Arbitrum users will no longer be able to claim ARB tokens anywhere. “Please be safe out there,” the Arbitrum Foundation added. At the time of writing, the transferred amount of ARB is worth around $56 million. The cryptocurrency slipped 1.6% over the past 24 hours, trading at $0.81, according to data from CoinGecko. The amount of unclaimed ARB tokens accounts for 0.69% of ARB’s total supply of 10 billion. According to data from Dune Analytics, 93% of eligible users had claim ed the tokens. E...

Crypto's liquidity crunch could allow event-based volatility to have a greater impact on prices, according to a recent analysis from Bitfinex. Capital outflows in the crypto industry reached $55 billion in August, according to a report released by crypto exchange Bitfinex.  The analysis is based on the aggregate realized value metric, which measures the realized capital of Bitcoin (BTC) and Ether (ETH) with the combined supply from the top five stablecoins Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI), and TrueUSD (TUSD). "A deep dive into the data reveals a prevailing trend: by early August, the industry had begun to experience capital outflows," notes the report. According to this metric, about $55 billion was drained from the crypto market s over the past month. Capital outflows did not just affect Bitcoin but also impacted Ether and stablecoin liquidity . Bitfinex said: "August was the largest red monthly candle for BTC since the bear market bot...

This week’s episode of Market Talks discusses whether it will ever be “too late” to buy Bitcoin and why BTC could take over the financial world. On the latest episode of Cointelegraph’s Market Talks , host Ray Salmond spoke with Luke Broyles, a popular Bitcoin (BTC) advocate and content creator on YouTube and X (formerly Twitter). During the show, Broyles laid out his Bitcoin invest ment thesis and his unique perspectives on how the asset’s price could eventually rise into seven-figure territory. Broyles said that in 2020, he realized the bond market was broken. While searching for alternative invest ments, he discovered Bitcoin as a sound option. When asked about his Bitcoin invest ment strategy and how he stomachs the volatility, Broyles said:  “I do not own bonds. I have sold off 97% of my stocks over the past three years, and I’m selling off the last 3% this week actually, so it’s funny that you ask that. By the end of this week, the only three assets that I will own will be U.S. ...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Our traditional financial industry , despite its tenacity and resilience, is beginning to show its age. The challenges that plague this sector, including its highly centralized nature, exorbitant transaction costs, and inefficient settlement times, underscore the need for transformation. It is indeed a sturdy structure, but one crafted in an era far removed from today’s rapid technological advancements and evolving consumer demands.  Parallel to these traditional systems, web3 has emerged, promising an efficient, cost-effective, and decentralized alternative. It signifies a shift from internet monopolies to a user-centric internet, where users own their data and interact directly with each other. However, the journey of web3 isn’t without hurdles. Its complex usability, coupled with cybersecurity concerns, are significa...

Popular NFT project y00ts has announced that it will migrate from the Polygon (MATIC) blockchain to Ethereum (ETH). The project had only moved to the Polygon ecosystem earlier this year from Solana (SOL). y00ts mentioned that it will also repay the $3 million grant that Polygon gave as part of the change. y00ts will join the DeGods library on Ethereum once the migration is complete. Both projects were created by Rohun Vora, aka Frank, in October 2021. In April, the company had already moved DeGods to Ethereum. Frank stated via a tweet that, “We tried our best to make it work, but we just need to bring our 2 communities tog ETH er.” 1. We tried our best to make it work but we just need to bring our 2 communities tog ETH er. I would appreciate it if everyone remains respectful of all parties involved. It’s all love. https://t.co/6AT4SMUT76 — Frank (@frankdegods) August 9, 2023 The project tweeted that they still love Polygon (...

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...

An Ethereum wallet address that has been dormant for eight years recently moved its entire stash of 61,216 ETH, valued at $116 million at spot rates as of July 19, to an address on Kraken, a crypto exchange. Initially worth approximately $20 million during the pre-mine phase, ETH prices have since surged, lifting the entire stash by 8X to roughly $116 million over the years . A dormant pre-mine address containing 61,216 #ETH (116,396,127 USD) has just been activated after 8.0 years!https://t.co/f79T0fYa7b — Whale Alert (@whale_alert) July 18, 2023 Money on the move Etherscan data verified the pre-mined 61,216 ETH movement to a Kraken wallet address on July 18 at 7:30 pm Eastern Time. Surprisingly, the transfer of $116 million worth of ETH incurred $1.5 in transaction fees. Ethereum Transaction | Source: Etherscan Before sending, he first sent 0.05 ETH as a test to the Kraken address. Ethereum USD Price Chart | Source: CoinMarketCap Coinciding with this bi...

An ethereum trader that recently made a $4.49 million profit by trading ETH on the Binance exchange has just transferred 3,000 ETH to the exchange again. Ether trader moves value The global cryptocurrency markets have seen a resurgence in recent weeks, overcoming the widespread FUD triggered by the U.S. SEC’s enforcement actions against several market participants. Ethereum (ETH), the world’s second-largest cryptocurrency, has also witnessed strong bullish momentum this week, hitting a high of over $1,976 on July 3.  However, despite the strong charge of the bulls so far, on-chain data released by Spot on Chain shows an ETH trader, who had previously earned a profit of over $4 million by correctly catching the token’s previous dump-pump cycles, may be anticipating an imminent ether price crash. You might also like: Revenge trading goes wrong as whale losses $1.88M on ETH shorts Per a Twitter thread by the researchers, the trader has transferred 3000 ETH (worth around...

Ethereum has remained a revered name in the digital asset sector and a widely used blockchain network. As the growth of the market continues and people gravitate toward the development, we break down some commonly asked questions related to these programs. Now, let’s delve into whether or not Ethereum addresses are case-sensitive.  There are few networks as adopted as Ethereum, and as such, addresses Subsequently, ensuring that you have the correct address is a vital part of transferring digital assets. Thus, knowing the case sensitivity of the addresses is a crucial aspect of it. Ethereum Addresses Source: Redot.com Now, before we delve into case sensitivity, let’s understand these indicators a little more. An ETH address is kind of like your own ID on the blockchain. Moreover, this identifiable marker is how you are differentiated from every other entity operating within the network. Additionally, it allows the program to identify if the address is related to a wallet address, a...

Amid a host of trading strategies in the digital asset industry, short selling is an immensely attractive option. Moreover, as the industry continues to fluctuate due to inherent volatility, the concept has become popular with those who forecast a price decrease, and observe profit-making potential. So, let’s discuss in greater detail how to short Ethereum (ETH).  Ethereum is among the most widely known names in the digital asset industry. Nevertheless, the blockchain platform has increased its value exponentially since its arrival in 2015. Yet, as macroeconomic factors have influenced the industry, it may well be shaping up to be a good time to short.  So, let’s observe the trading strategy, and its potential profit for investors, amid Etheruem’s long-term outlook. What is “Shorting” Source: CNBC The trading concept of short selling, or going short, is a widely known financial strategy. Specifically, it constitutes an investor borrowing crypto, and selling it with the ...