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Shiba Inu gaits into Parex Exchange in a few hours

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The Parex decentralized exchange took to its Twitter handle to announce that it will begin trading Shiba Inu starting on 20 April 2022. Parex exchange stated two days ago that it will begin accepting Shiba Inu deposits and trading on its platform on April 20. USDT will be coupled with the meme token.

Earlier this month, it was revealed that the SHIB coin had been introduced to several other exchanges around the world. Parex, on the other hand, is a decentralized cryptocurrency exchange that helps make a unique debut for the meme coin. Decentralized platforms enable transactions to take place securely utilising peer-to-peer technology without the need for a third party to act as an intermediary.

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According to Bloomberg, the launch of Parex was announced on March 23. The DRC-16 protocol was used to launch it on the myDexChain network.

The platform is distinct from previous exchanges since it includes a mineable PRX token that operates on the Proof-of-Interoperability protocol. The latter allows PRX to connect to other blockchains such as Ethereum, Polygon, Polkadot, and many more. 

Robinhood joins forces with Shiba Inu through listing

VALR, a South African digital exchange, listed the Dogecoin-killer earlier this month. Aside from that, the canine token SHIB was finally listed on the Robinhood trading app, which had been a long time coming.

According to a listing bot, the meme cryptocurrency Shiba Inu had been listed by commission-free investment platform Robinhood. Even though the corporation has yet to formally unveil a new addition to its line-up, the meme coin has now appeared on the official website.

On April 12, Robinhood welcomed Shiba Inu, as well as three more prominent altcoins: Polygon’s MATIC, Compound (COMP), and Solana (SOL) (SOL).

In early 2018, Robinhood added functionality for cryptocurrency trading, initially for Bitcoin and Ethereum. In the same year, it added Litecoin, Ethereum Classic, Bitcoin Cash, and Dogecoin to the mix. Despite the fact that the crypto industry has grown by leaps and bounds since 2018, the firm has resisted adding new coins to its platform until now.

At the time of writing, Shiba Inu (SHIB) was trading at $0.00002531 and seemed bullish with an increase of 0.35% in the last 24 hours.

Shiba Inu Listed: Robinhood Made Crypto Twitter Go Woof!

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Shiba Inu, after a long wait, has finally manifested in Robinhood’s trading list including four new cryptocurrencies on its platform. Besides the meme coin, the other assets listed are Solana’s SOL, Polygon’s MATIC, and Compound’s COMP.

Following the update, the prices of all the listed tokens surge. At press time, shares of Robinhood were up 5% since the announcement. SHIB’s price too spiked 20% on Tuesday, before falling by 11% and is currently trading at $0.00002696 as per Coinmarketcap. Other cryptocurrencies, including Bitcoin and Solana, also advanced. 

The news was received with a lot of fervor as Shiba Inu proponents rallied behind the asset to be listed on the platform, even went to initiate a change petition, gathering as many as 550,000 signatories in favor of the move. 

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The U.S.-based commission-free trading platform, at the time, said it was carefully considering all aspects such as customer demand, its listing committee deliberates factors including on-chain analysis, and security, as well as legal and financial variables, among others, before adding the new coins to its offerings.

With regards to today’s addition, Steve Quirk, chief brokerage officer at Robinhood, said in a blog post.

We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto. As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.

Robinhood already offered seven cryptocurrencies including Bitcoin [BTC], ether [ETH], and dogecoin [DOGE].

Investors hodling Shiba Inu – buying the dip

The Shiba Inu ecosystem has been teeming with a lot of positive developments. All the events that culminated in Shiba Inu’s massive intraday rally also include a period of strong accumulation, data from IntoTheBlock shows.

The meme coins have recently topped the ETH whales holdings list. Whalestats data revealed that the overall amount of SHIB owned by the top 1,000 ETH wallets is worth a whopping $1,459,250,776.

The analytics platform noted the address holding SHIB for more than a year increased its balance in the last 30 days. As a result, these “hodlers” now have control over 2.82% of the net SHIB supply in circulation.

Shibarium testnet draws closer; Can it propel SHIB to a new ATH?

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Shibarium, a Layer 2 scaling solution for the Shiba Inu is heading closer to launching its public beta version. This was revealed in a Twitter update by Milkshake from a recent Medium blog post, Unification Foundation, a team working on the layer2 project.

The article revealed that a public testnet of Shibarium is slated to go live within the next few months with a public beta to follow shortly thereafter.

According to the post, the Alpha TestNet version for Shibarium is currently underway which will be used for network testing and the development of all end-user engagement tools such as wallets and block explorers, token transfer bridges, etc.

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There will be some private invitations sent out to trusted testers after these have been prepared and implemented. The feedback will be used to improve and expand the network and tools before releasing a public Beta TestNet. Further the blog read,

“In continuing the foundational work to support open source projects with large utility, the Unification team continues to play a strong role in the development of the Shibarium network. Shibarium which will be the premium L2 for the Shib token community, & in partnership with the Shib Army, enabling rapid low-cost transactions optimized for gaming.”

Can Shibarium be the gamechanger for Shiba Inu?

As Shiba Inu is an ERC-20 token, the asset is plagued with high gas fees rendering it unaffordable for many newbies. With the introduction of the scaling solution Shibarium, many in the community expect it to be a gamechanger for the popular meme coin use cases.

Besides that developers are also working on an algorithmic stablecoin called SHI that will operate on both Ethereum and Shibarium. Not content with just being a meme coin, Shiba Inu has announced its plans to develop its own virtual space and world, “Shib: The Metaverse”.

Even though SHIB’s price remained flat, Whales continue to buy the dip, as data from WhaleStats revealed that SHIB blasted its way to be one of the largest holdings among the top ETH whales. This position had previously been occupied by FTT [FTX Token] for a while now.

Meanwhile, the Shibarmy is also helping the asset to grow by burning massive amounts of the coin. As per statistics by shibburn, 1.4 billion SHIB has been burned in the 24 hours. All these developments would initiate a leg up in the token’s price action.

BAYC NFT Stolen From Taiwanese Singer Jay Chou Has Been Sold for 164 ETH

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On the NFT trade platform LooksRare, a Bored Ape Yacht Club (BAYC) NFT reportedly stolen from Taiwanese musician Jay Chou sold for 164 ETH ($570,000).

According to the singer, the NFT, BAYC #3738, was taken along with numerous other tokens in a phishing assault.

The attack happened simultaneously as a hack on the official BAYC discord. However, it’s unclear if the two are connected. A Mutant Ape NFT was stolen during the BAYC raid.

According to on-chain statistics, the NFT has already passed through many hands since its theft on Friday. Its most recent selling was for a profit of approximately 50% above BAYC’s floor price.

The journey of the lost BAYC APE

The ape in dispute had gone through at least two purchasers in the hours following its abduction, according to a comprehensive study by blockchain security firm Beosin.

The first transaction involved 124 wrapped ETH (WETH), while the second involved 155 WETH.

The hacker utilized tornado cash, a prominent crypto mixer, to make the laundered ETH untraceable.

The LooksRare account that presently owns the token looks like a whale with an extensive collection of Bored Apes. It wasn’t apparent whether those Apes were also stolen items.

Thefts of Bored Apes are not uncommon since thefts have been documented since the NFT boom in 2021.

A never-ending spree of crypto hacks

A hacker drained a liquidity pool belonging to the popular play-to-earn game (P2E) Axie Infinity (AXS) last week, stealing around $600 million worth of tokens in the largest crypto heist.

On Monday, the hacker was seen transferring the majority of the stolen tokens into Tornado Cash, where they are likely to be untraceable.

Nonetheless, given the attack’s high visibility and the hacker’s use of private, centralized exchanges to fund it, their identity may be traceable in the near future.

The attacks highlight that no matter how unhackable you think anything is, the hackers find their way around everything. The best way is to have self custody of your own assets. The freedom of digital assets comes with great responsibility. It’s best to safeguard and secure it rather than weeping later once it’s lost.

Cardano has 517 projects locked in with NFT accounting for the largest share

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Cardano’s ecosystem continues to grow by leaps and bounds. A Twitter user by the pseudonym TTS17 shared a LinkedIn post by Tim Harrison, creator of the blockchain, showing the number of projects building on ADA. The data which is in the form of a pie diagram indicated that there are 517 projects being currently deployed on Cardano as of March 11.

Of that, NFT collections occupied the major chunk of the pie comprising 34.7% of ADA’s projects. This was followed by Decentralized exchanges or DEX and the gaming sector hitting second and third positions. Recently the proof-of-stake [PoS] blockchain achieved a new record of the number of NFTs minted on Cardano crossing a staggering 800,000.

Of late, a number of significant milestones have been registered on the network, as development on the blockchain has received a further boost from the recent Alonzo upgrade in September 2021.

The upgrade has brought smart contract capabilities, which enabled the network to grow and operate at a much faster rate than it had previously been able to. In reference to that, Cardano founder Charles Hoskinson called it the most “significant change in the history of the protocol.”

Whales accumulation in Cardano network hit ATH

As per data from the blockchain analysis firm, IntoTheBlock showed that wallet addresses with 1 million to 10 million coins rose to an all-time high of 12 billion ADA [$9.72 billion] last week. Notably, this was an impressive 41 percent jump since January,

The accumulation by these large-cap investors hints at a possible bull run for ADA’s price action. In September, before the downtrend, whales were on a dumping spree leading to a significant sell-off, which eventually acted as an advance indicator of the upcoming price fall in the asset price movement.

Another significant development was from DefiLama, a site that tracks DeFi data, which showed the total value locked [TVL] in the Cardano network increased by $50 million in just 7 days, reaching a record high of $160.79 million. Data also suggested that roughly 70 percent of the funds are locked in SundaeSwap, reflecting supporting the growing popularity of the decentralized exchange.

Cardano: With a 70% drop in 5+ months, has ADA hit rock bottom?

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Leading altcoin Cardano’s price saw a massive plunge of 70% in more than 5 months amidst extreme market volatility. The popular asset price swung wildly in tandem to the broader market, charting a new all-time high of $3.10 last September to $0.85 on February 2022 and back to $0.92 at the press time.

Despite the grim outlook on the price front, on-chain data platform Santiment observed that shark addresses holding 10k to 100k ADA have historically done a pretty decent job at calling tops. In addition to that, over the past 5 weeks, these addresses have added nearly 6% more of the overall ADA supply.

Santiment then takes a deep dive into some key metrics to see if the 7th largest cryptocurrency by market cap is heading for a trend reversal.

What does Cardano’s on-chain indicators reveal?

In terms of Whale Activity, the report observes that the cohort of addresses holding between 10,000 to 100,000 has been growing rapidly.

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However, the group above that holds between 100,000 to 1,000,000 ADA tokens has dumped from 37.0% to 17.7% of the supply held in just the past three months. The report then says that these two cancel each other out, and create a mostly neutral indicator.

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Next, the data looks into the Funding Rate which notes that traders are shorting at their highest ratio in a month as evident in the total average hourly funding of Cardano on both FTX and DYDX.

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Lastly, the report takes into consideration another key indicator which is the Whale Transaction Count. The number of transactions amounting to $100,000 or more can play a major part in indicating price turnarounds. As illustrated in the chart below there are massive spikes in whale transactions that mark either major tops or bottoms.

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As for ADA right now, not a lot appears to be happening, the report added. Further, it stated,

“We see that the major clusters of whale transactions both happened right at local tops in both May and at their all-time high in September. Look for an uptick in these transactions as some great alpha that Cardano will see a long-term turnaround.”

OpenSea is examining the phishing attack after labeling $200M loss to be ‘False Rumors’

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After a recent hack that stalled OpenSea’s planned upgrade, the leading NFT marketplace is currently examining the factors that led to the “phishing attack” while announcing some key updates with respect to the incident via their official Twitter handle.

The thread also read that the list of affected individuals was numbered 17, and not what was previously mentioned as 32. The attack according to the firm’s observation did not appear to be active after the incident as there has been no activity on the malicious contract for more than 15 hours.

Refuting claims that its website’s code was breached, the platform’s chief executive Devin Finzer said in an earlier tweet on 20 February that

“We don’t believe it’s connected to the OpenSea website. It appears 32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen. NFTs, or non-fungible tokens, have surged in popularity over the past year.”

In a series of tweets, Finzer dismissed rumors that the hack incurred a loss of $200 million. The chief exec also said the hacker “has $1.7 million of ETH in his wallet from selling some of the stolen NFTs. And that some of the stolen NFTs have never been returned.

Finzer in a separate tweet mentioned that he and his team got in touch with “dozens” of individuals across the NFT space, and confirmed that this was a phishing attack.

Furthermore, he announced that Opensea was actively “working with users whose items were stolen to narrow down a set of common websites that they interacted with that might have been responsible for the malicious signatures.”

Critics slammed OpenSea’s ‘phishing’ claims

That being said, not all seem to back up the claims. One user who goes by the name- Mr. Whale in a tweet, posted a few hours after the breach, said that “over $200M [was] lost already.”

Another user named Jacob King also chimed in by rejecting Finzer and Opensea’s phishing attack claim. The user stated that a “flaw in their code led to one of the largest NFTs exploits in history.”

As previously reported by TronWeekly, OpenSea announced an upgrade on their smart contract on 18 February 2022 that aimed at removing inactive listings on the platform. It required users to migrate their listed NFTs from Ethereum blockchain to the new smart contract.

But just a few hours following the announcement, multiple reports emerged of an ongoing large-scale attack that targeted the soon-to-be-delisted NFTs.

94,643.29 Stolen BTC from 2016 Bitfinex hack moved

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According to the reports by Whale alert, large amounts of BTC, which were stolen during the 2016 Bitfinex hack, started moving to an unknown wallet. The hackers carried out the first transaction on (Tue, 01 Feb 2022 04:14:24 UTC). Initially, they moved 1 BTC to the anonymous wallet. As of now, 26 transactions have been carried out on the anonymous wallet. The wallet holds 94643.29 BTC at the time of writing.

Whale alerts is a transparent platform for tracking and analyzing millions of transactions every day. They reported the incident on Twitter, providing the details of the move.

History of the 2016 Bitfinex BTC hack

In August 2016, almost 120,000 bitcoins – now worth roughly $4.6 billion – were stolen from the famous crypto exchange Bitfinex. The hackers may have felt that the challenging portion of their crime was over. However, barely 21 percent of the stolen bitcoins have been transferred after five years, and just 4 percent have been laundered or swapped.

The 119,756 bitcoins stolen from Bitfinex were first transmitted to a single wallet, and 79 percent of them remain there to this day. After a rush of transactions in early 2017, there were very few outflows from the wallet until 2020, when there was a significant rise in activity. In April 2021, 12,241 BTC of the stolen assets were relocated, having a value at the time of $774 million. This rise was presumably spurred by the surging Bitcoin price, which rose more than 700 percent during the prior year.

Elliptic said the hackers laundered the money through darknet markets like Hydra and privacy-focused Wasabi wallet. These marketplaces provide cash-out services with drugs, hacking equipment, and bogus IDs. These allow Bitcoin to be exchanged into gift cards, prepaid debit cards, or actual cash. Software wallets like Wasabi assist in avoiding blockchain tracing, employing a kind of transaction known as a “coinjoin”. It is estimated that over 13 percent of the profits of crime in bitcoin are laundered using private wallets.

The inability of the hackers to move the fund tells a story about the crypto industry’s maturation and how law enforcement capabilities, regulation, and blockchain analytics have combined to make crypto crimes extremely difficult. But to date, they were unable to trace back to the hackers who committed this monstrous loot.

El Salvador president Nayib Bukele predicts a gigantic price increase of BTC soon

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El Salvador President Nayib Bukele tweets out one more message describing how billionaires throughout the world will soon pitch into buying bitcoin, and there won’t be enough coins for everyone, finally resulting in a price spike.

From an all-time high, Bitcoin has dropped to almost 50 percent. But its admirers and fervent advocates continue to put greater trust in the cryptocurrency. In his recent tweet, Bukele writes:

El Salvador’s never ending love for Bitcoin

Even when the market was dipping, Nayib accumulated BTC into his treasury. El Salvador holds at least 1,801 bitcoins. Even though he keeps on getting backslashes, he seems steady on his stand with BTC. International Monetary Fund (IMF) urged El Salvador to remove bitcoin as a legal tender. He responded with a meme GIF.

El Salvador’s history with bitcoin

The Bitcoin Law was enacted by the Legislative Assembly of El Salvador on 8 June 2021, granting the cryptocurrency bitcoin the status of legal tender inside El Salvador after 7 September 2021. Since at least 2019, bitcoin use as a currency in El Salvador was tried. Current president Bukele professed interest in bitcoin while he was mayor of San Salvador in 2017.

Bloomberg News revealed in June 2021 that Bukele and several members of the Nuevas Ideas party had possessed Bitcoin for years. Interestingly, more nations and jurisdictions are interested in following El Salvador. The U.S. State of Arizona intends to make Bitcoin legal money very soon. Famous crypto analyst Lark Davis tweets that this might be a massive deal if Arizona successfully convinced the regulators.

Bear market continues

Famous trader Peter Brandt recently hinted with a tweet that this might be the right time to buy BTC. According to CoinMarketCap, BTC is currently trading at $36,999 with a 24-hour trading volume of $17,255,268,085 during the time of writing. It still continues to trade in $36,000-$38,000 range.

Whale alerts bring to our notice that some whales are still accumulating BTC and other cryptos during the dip. In contrast, sceptics beat around the bush, thinking whether it’s the right time to buy or not. The right time to buy is when there is blood on the streets. It’s hard to ignore Nayib’s words that with the increased demand, the price of BTC is going to soar higher.

The Colossal crypto sell-off; wipes off $1 trillion since November 2021

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The cryptocurrency market hasn’t had a very good year so far in 2022. Bitcoin has lost 16 percent since the beginning of the year, while Ethereum has lost 22 percent. Bitcoin and other coins resumed their downward trend Wednesday, with Bitcoin falling to its lowest level in the previous five months, currently trading at $35,573. Ethereum, the second most popular asset, is presently trading at $2,471.

Bitcoin has dropped by 48% from its all-time high of $69,000 in November 2021. Since then, this drop, combined with a drop in other assets, has resulted in the market losing about $1 trillion.

Various cryptos have together wiped away a market worth of roughly $150 billion in the previous 24 hours, with the global market cap falling 9.28 percent to 1.63 trillion as per the reports by CoinMarketCap.

With Bitcoin down 8.41 percent and Ethereum down 12.93 percent since yesterday, most cryptocurrencies were in the red, with the exception of a few stablecoins named among the Top 100 largest digital assets. Other prominent currencies, like Cardano, have dropped 8.95 percent in the previous 24 hours, while Solana has gone down by 17.62 percent.

What spiked the crypto carnage?

Central Russian Bank recently announced its intention to impose a blanket ban on cryptocurrency trading, circulation, mining, and other related activities, causing widespread concern, given that Russia is the world’s third-largest mining hub.

Furthermore, the Biden administration, together with the US Congress, is paying closer attention to the effects of these assets, as the administration prepares to announce a comprehensive policy covering a variety of digital assets.

In the past 24 hours, 330,834 traders liquidated roughly more than $1 billion as per the reports by Coinglass. Bloodbaths are not a newbie to long-term crypto hodlers. Bear runs and market crashes test the sentiments and rises the uncertainty among many investors.
But remember that when one sells, someone else buys. Even during uncertain times, it’s evident that whales keep accumulating crypto. So take a step back, keep the sentiments away because crypto is not a quick rich scheme.