Autor Cointelegraph By Arnold Kirimi

OpenSea surpasses $3.5B in monthly Ether trading volume setting new ATH

OpenSea surpasses $3.5B in monthly Ether trading volume setting new ATH

Uverejnil používateľ | jan 17, 2022 |

With two more weeks left in January, nonfungible token (NFT) marketplace OpenSea has seen its monthly trade volume in Ether (ETH) exceed $3.5 billion for the first time ever.According to data from Dune Analytics, OpenSea has now surpassed the all-time high of $3.42 billion set in August 2021 to establish a new all-time high, surpassing the $3.5 billion mark in Ether trading volume.OpenSea’s record-high volume on Sunday, as per Dune Analytics, was $261 million. Thus far in January, OpenSea has broken $169 million in trading volume for each day.The surge in NFT trade volume appears to be fueled by the price increase in Bored Ape Yacht Club (BAYC) and its sibling collections, Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC). BAYC, which has a large number of celebrity owners, is still the most popular NFT collection on OpenSea, with 14,306 ETH (nearly $47 million in current market value) traded over the last 24 hours.OpenSea announced a $300 million Series C financing round early this year, led by venture capital firms Paradigm and Coatue. The fresh cash brought the firm’s valuation to $13.3 billion, with the intention of using it for product improvement and boosting employee numbers.Related: NFT sales and blockchain games continue to grow despite the recent market slump: ReportNew players are rapidly gaining ground on OpenSea, however, and one notable competitor is LooksRare — a new NFT marketplace launched earlier this month that is already outpacing OpenSea in terms of trading volumes, as per Dune Analytics’ data. However, according to early reports, the platform appears to be overflowing with wash trading to rig the token-based rewards system.In other news, Sultan Gustaf Al Ghozali, a 22-year-old computer science student from Semarang, Indonesia, became a millionaire by turning 1,000 selfies into NFTs and selling them on Opensea.

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Crypto.com pauses withdrawals due to ‘suspicious activity’

Crypto.com pauses withdrawals due to ‘suspicious activity’

Uverejnil používateľ | jan 17, 2022 |

Major crypto wallet and platform Crypto.com has temporarily halted withdrawals after “a small number of users reporting suspicious activity on their accounts,” but all funds are reportedly safu at the moment. We have a small number of users reporting suspicious activity on their accounts. We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.— Crypto.com (@cryptocom) January 17, 2022A few hours ago, Crypto.com halted withdrawals from its platform in response to several “thefts” by customers’ accounts. Dogecoin (DOGE) founder Billy Markus noticed a suspicious transaction pattern on Etherscan that prompted the company to halt all transactions until they figured out what was going on with their platform.Internal system transfers and funds are safe? Inside job gone awry like office space? Hackers taking funds from an exchange hot wallet? ‍♂️Never a dull day in the world of crypto.— Shibetoshi Nakamoto (@BillyM2k) January 17, 2022

Ben Baller, a cryptocurrency enthusiast and jeweler, claimed that his account was breached, losing 4.28 Ether (ETH) (about $15,000). Ben also said that he used two-factor authentication, so the alleged perpetrators must have bypassed some of Crypto.com’s security features.I messaged yah guys hours ago about my account having 4.28ETH stolen out of nowhere and I’m also wondering how they got passed the 2FA?— BEN BALLER™ (@BENBALLER) January 17, 2022

Related: Crypto.com announces global partnership with Formula 1Cointelegraph reached out to Crypto.com for more details regarding its decision to halt withdrawals but did not receive a response as of publishing time. This article will be updated pending new information.The cryptocurrency industry is no stranger to hacks, rug-pulls and protocol exploits. Earlier this month, decentralized finance security platform and bug bounty service ImmuneFi found that losses from hacks, scams and other malicious activities exceeded $10.2 billion dollars over 2021.Per the report, there were 120 crypto exploits or fraudulent rug-pulls, the highest-valued hack being the Poly Network at $613 million.

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Bitcoin payments decline as other cryptocurrencies grow

Bitcoin payments decline as other cryptocurrencies grow

Uverejnil používateľ | jan 17, 2022 |

BitPay Inc., one of the world’s most well-known crypto payment processors, has seen a shift in the type of digital assets used for purchases over the last year, according to a Bloomberg report.According to Bitpay, Bitcoin’s (BTC) usage at businesses that use its payment system fell last year to about 65% of processed transactions, down from 92% in 2020. Along with this change, Ether (ETH) represented 15% of all transactions, whereas other currencies like Litecoin (LTC) and Dash (DASH) have increased their portion.Businesses have started using stablecoins more frequently for cross-border payments since November when crypto values had been depreciating. Consumers have also begun to use stablecoins because their value is constant, resulting in less risk in the notoriously volatile cryptocurrency market, as per the report.The growing popularity of stablecoins has partly contributed to the use of alternative coins for payments. Dogecoin (DOGE), for example, became famous last year as the result of its followers, such as Tesla CEO Elon Musk, who on Friday announced that Dogecoin may be used to buy Tesla-related products.Related: Retailers to drive crypto payments adoption: SurveyThe trend suggests that individuals are holding Bitcoin rather than spending it. Bitcoin’s prices increased by 60% in 2021, regardless of the fourth quarter’s volatility. According to Bitpay, the majority of last year’s crypto transactions were in luxury items like jewelry, watches and automobiles.Whales have never held more bitcoin pic.twitter.com/a9jxAV3Mxp— zerohedge (@zerohedge) January 16, 2022Transaction volumes for high-end items increased 31% in 2021 from 9% in 2020, according to Stephen Pair, Bitpay’s CEO. Payment volume rose by 57% across the board in 2021.

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Hong Kong-based Coinsuper allegedly blocks customers' withdrawals

Hong Kong-based Coinsuper allegedly blocks customers' withdrawals

Uverejnil používateľ | jan 7, 2022 |

A cryptocurrency exchange in Hong Kong has reportedly stopped all withdrawal requests, according to reports. Coinsuper is the sole crypto firm in China that is licensed by the government, and was founded by a former senior UBS Group AG executive in November 2017.The report by Bloomberg suggests that customers of the bourse have been unable to withdraw funds since late November, based on a review of messages on the exchange’s primary Telegram chat group.Five clients reportedly filed police complaints after token withdrawals were apparently halted, leaving them unable to reclaim around $55,000 of cryptocurrency and money.I called the Japanese Consulate in Hong Kong about the withdrawal trouble of the Coin Super Exchange, I was asked to report to the Hong Kong Police Force, but this time I went to the western police district of the Hong Kong Police Force. I have provided information #CoinSuper pic.twitter.com/GuXBLt0Nm2— 火拳FX・越境通貨《紐》【PEGASUS WORLD KIT】 (@PegasusWorldKit) January 4, 2022The public outcry against Coinsuper, which is backed by Pantera Capital and run by Karen Chen, who formerly worked as president of UBS China Inc., might compel the Hong Kong authorities to apply stricter policing. As reported by Cointelegraph in Sept. 2021, a senior executive for the city state’s Securities and Futures Commission said that greater action is needed to combat cryptocurrency fraud, suggesting future guidance on digital asset trading in the special administrative region.Last month, the administrator of Coinsuper’s Telegram discussion group allegedly stopped responding to inquiries about failed withdrawals, then resurfaced last week, asking customers to provide their email addresses. Some clients said at the time that there was no follow-up even after they provided their details.The exchange processed roughly $17.4 million of volume in the last 24 hours — down from a daily peak of $1.3 billion in late 2019, according to data firm Nomics.Related: Hong Kong landlords lease to crypto exchanges following regulatory clarityWhile speaking to Bloomberg, one of the venture capitalists that had backed Coinsuper said that they have completely canceled their $1 million investment in the exchange. The VC said they had lost communication with the exchange’s management team six to eight months ago, and chairperson and CEO Karen Chen stopped replying on WeChat. According to reports, several workers departed the firm between July and December.

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UK air traffic tech firm uses Hedera Hashgraph to track drones

UK air traffic tech firm uses Hedera Hashgraph to track drones

Uverejnil používateľ | jan 7, 2022 |

Hedera’s public ledger consensus service was recently used to “gather, store, and order” millions of data points in a drone data trial sponsored by the United Kingdom government.As per an announcement, Hedera worked with Neuron Innovations, a London-based aviation technology company, to trial safe sharing of long-distance airspace by commercial, military, and government drones.Neuron has implemented an “aviation surveillance as a service” system to allow drones to seamlessly join existing air traffic. The aviation tech firm then utilized Hedera Network’s Hedera Consensus Service to “gather, store, and order” drone data. Neuron CEO Niall Greenwood said:”We have made unmanned, long distance drone travel possible using safety-critical aviation infrastructure. Each flight creates millions of data points, which no other public ledger has been fast enough to log and correctly order.” The multi-drone trial was held in Port Montrose, Scotland, and Cranfield University in Bedfordshire in April and October of 2021. The Neuron sensors recorded data points concerning the drones’ locations and direction while the Hedera Consensus Service logged and timestamped the data collected from each drone on its decentralized public ledger.Related: Hedera and Korea’s Shinhan Bank partner on KRW stablecoin pilotThe experiment, backed by the U.K. Department for Business, Energy and Industrial Strategy, was one of a number of drone-related tests. The main finding from the study was that it was possible to follow unmanned aircraft after they had passed out of view.Hedera Hashgraph is a high-security, public distributed ledger technology network based on a proof-of-stake consensus algorithm. The proof-of-concept, which demonstrates that a certain procedure or concept is feasible, utilizes the Hedera Consensus Service and the Hedera Token Service.Hedera Hashgraph has established a number of collaborations to apply blockchain technology in real-world applications across several sectors. In November 2021, Cointelegraph reported that the Hedera Council partnered with ServiceNow, a cloud-based digital workflow platform, to integrate the Now Platform and create a new degree of trust and responsibility in digital transactions.

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