Autor Cointelegraph By Brian Quarmby

400 new projects and 100K new wallets in a month on Cardano

400 new projects and 100K new wallets in a month on Cardano

Uverejnil používateľ | apr 20, 2022 |

Activity on the Cardano (ADA) blockchain is starting to heat up, with 400 new projects in the works, along with 100,000 new wallets being created over the past month. According to an April 19 Twitter post from Cardano creators Input Output (IOHK), there are nearly 900 projects in development on the network. The figure has grown by roughly 400 since March 11, after IOHK Vice President Tim Harrison stated that the total stood at around 500 via Linkedin post. As of today, nearly 900 projects are #BuildingOnCardano⚒️ And this number goes up day by day. Keeping track of all the news from this incredible ecosystem is not easy & this is why every week we compile an ecosystem digest with highlights & updates. ⤵️#Cardano $ADA— Input Output (@InputOutputHK) April 18, 2022Cardano is a public and decentralized proof-of-stake (PoS) blockchain that was created by Ethereum co-founder Charles Hoskinson in 2017, after he left the team over disputes on the future direction of the network. Pointing to some of the positive developments on Cardano over the past 10 days, IOHK highlighted six projects ranging from token swaps to DeFi applications that went live on the mainnet, entered test nets, or launched via open beta. One new project getting considerable attention is the AGIX ERC-20 Converter Bride which was developed in collaboration with SingularityNET. The tool went live this week and it enables users to bridge over Ethereum-based ERC-20 Tokens for use on Cardano, with the network’s DeFi sector expected to be a significant beneficiary. After all these years Cardano has finally found utility, to copy Ethereum. https://t.co/kdwaZaQJGf— MatiGreenspan.near (@MatiGreenspan) April 18, 2022

Despite increasing numbers of projects in development, the number of DApps up and running on Cardano appears to be limited, with DeFi Llama listing just 10 different platforms accounting for $224.96 worth of total value locked (TVL). Notably, four of those platforms have $0 TVL also outside of their native tokens. On the NFT side of things, Cardano doesn’t even make the top 15 blockchains in terms of sales volume over the past 24 hours, despite fifteenth ranked Theta only generating $375 during that period. It has been a slow burn for Cardano since launching smart contracts in September, with the network yet to fully take off and provide the promised competition to Ethereum (ETH), or even fellow “ETH killers” such as Solana, Avalanche and Flow. However founder Charles Hoskinson recently suggested in a video posted to his YouTube channel that the tide could soon turn with the upcoming Vasil Hard Fork upgrade in June. He stated that it will provide a “massive performance improvement to Cardano” and its smart contract capabilities. Related: 67% of Cardano holders underwater and most bought less than 1 year agoADA Wallet surge One area of strong growth at the moment is wallet activity on Cardano, with data from Cardano Blockchain insights showing that the number of ADA wallets has increased by 100,000 since March 22. The total figure as of April 19 stands at 3.268 million.Just getting started https://t.co/HGBiJY7n7U— Charles Hoskinson (@IOHK_Charles) April 18, 2022

Within that time frame, the average rate of new ADA wallets per day has surged from around 2,000 to 8,129. The number of transactions/payments per day has barely nudged however, decreasing from 106,952 on March 22 to 106,525 on April 19. Zooming out however, transactions larger than $100,000 have increased by 50X since the start of 2022, suggesting strong institutional demand may already be there.

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Animoca Brands buys major stake in Aussie digital services agency

Animoca Brands buys major stake in Aussie digital services agency

Uverejnil používateľ | apr 19, 2022 |

NFT investment giant Animoca Brands has acquired a major stake in Australian digital marketing agency Be Media. Be Media has locations in Perth, Melbourne, and Sydney and has provided Web2 firms with advertising and digital strategy since 2013. While the company isn’t geared up towards the crypto sector, the investment seems to be a part of Animoca’s immediate aim to “shepherd companies into Web3.”According to an announcement shared with Cointelegraph, Be Media will be tasked with seeking out partnerships with top Australian Brands relating to Animoca’s various blockchain-focused initiatives such as NFTs and launching an “open Metaverse”. “In line with its expanded scope after the acquisition, Be Media has begun an aggressive hiring process in the fields of blockchain development and project management to support the expanding pipeline of opportunities that the company will handle,” the announcement read. Be Media founder and CEO Jordan Fogarty — who will retain a minor stake and continue with his current role — outlined his enthusiasm for diving into blockchain tech with his firm, noting that he was “honored” to have the chance to help local companies take the plunge into Web3 and “introduce their customers to the metaverse, NFTs, and the power of digital property rights.” Speaking with the Australian Financial Review (AFR) on April 19, Fogarty also suggested that there is currently “insane” demand from the local business sector to adopt Web3 tech such as NFTs: “So many brands out there are saying they need to do something in web3, but how, and there’s not many service providers with the skills and experience because it’s so new.”“At the corporate level I’d be surprised if there aren’t many companies thinking of a strategy in this space,” he added.Related: ‘Our democracy will better evolve because of DAOs,’ says Animoca’s Yat SiuAnimoca, the crypto unicorn valued at around $5 billion, has been on a relentless investment spree over the past couple of years. Last week alone, Cointelegraph reported that the company acquired a 96% stake in Eden Games for $15 million, and a 70% stake in Darewise Entertainment. Both deals are expected to help the company develop triple-A level games backed by blockchain tech. While the investment in Be Media also adds to Animoca’s two other Australian investments which include gaming firms Blowfish Studios and Grease Monkey Games.

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Moonbirds fly into NFT top spot with $290M sold in four days

Moonbirds fly into NFT top spot with $290M sold in four days

Uverejnil používateľ | apr 19, 2022 |

The freshly launched Ethereum-based Moonbirds NFT project is soaring to the top of the trade volume charts after generating $290 million worth of sales in just four days. There are 10,000 computer-generated pixel owl avatar NFTs in total, which were promptly sold out on April 16 for a mint price of 2.5 Ether (ETH) per NFT, or $7,700 at current prices. The floor price (minimum average sale) has since exploded on secondary markets, with OpenSea currently showing a hefty sum of 18.45 ETH ($56,800). BLOOD MOON RISING #moonbirds pic.twitter.com/Jm6bqBVuVF— beeple (@beeple) April 16, 2022According to data from CryptoSlam, the project has generated more than $289.9 million worth of secondary sales (figure also includes mint sales). The figure places the project as the top-selling NFT collection over the seven-day and 30-day metrics, and second over the past 24 hours. Looking at the 30-day chart, the gulf in volume is notable, with Moonbirds’ NFT sales figures a whopping 52% ahead of second-placed Azuki and its $189.3 million worth of volume, and 76% of the BAYC at $164.6 million. DappRadar also highlighted that the Moonbirds #7963 NFT fetched the ninth-largest sale of all NFT collections over the past week at 135 ETH ($410,000). Top NFT Sales over past week: DappRadarThe Moonbirds project is following a similar route to the Bored Ape Yacht Club (BAYC) by launching utility-focused NFTs that grant holders access to a private ecosystem and membership club. According to the project’s roadmap, hodler benefits will include priority access to future drops, a membership club, merchandise, and early access to an upcoming Metaverse platform named “Project Highrise.”The Moonbirds NFT collection was founded by the PROOF Collective, which is working on several NFT projects and also acts as an exclusive social club for the 1,000 holders of the PROOF Collective NFTs. The collectible membership passes have an eye-watering floor price of 91 ETH ($278,800) at the time of writing. 1/25So why did I invest 120 $ETH into @moonbirds_xyz which is now valued at roughly 300 $ETH based on last sales? Why was this such an easy play for me and why am I not selling yet?Let’s dive into Moonbirds and @proof_xyz pic.twitter.com/3zuS6IgCrn— MoonCat2878 (@mooncat2878) April 18, 2022

Moonbirds’ impressive launch appears to be a result of investors heavily backing the founding members of the PROOF Collective, which includes tech entrepreneur and Digg founder Kevin Rose along with web3 investors Justin Mezzell and Ryan Carson. Related: How to get premium high-resolution metaverse and NFT imagesAn NFT collector who goes by “Cryptolocity” on Twitter highlighted Rose yesterday, noting that they backed the project due to his strong reputation, connections in the web2 and web3 worlds, along with his NFT focused podcast which has “contained some of the most life-changing ‘alpha’” for his listeners.2/ First, the major reason why this project has seen such success is the people behind it all: Kevin Rose @kevinrose and his team Ryan Carson @ryancarson Justin Mezzell @JustinMezzell are very well known figure in the Web 2 and Web 3 world and are the ones spearheading it all— Cryptolocity (@Cryptolocity) April 17, 2022

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Terra's UST flips BUSD to become third-largest stablecoin

Terra's UST flips BUSD to become third-largest stablecoin

Uverejnil používateľ | apr 18, 2022 |

The Terra (LUNA) blockchain’s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market. UST is a USD-pegged stablecoin that was launched in September 2020. Its minting mechanism requires a user to burn a reserve asset such as LUNA to mint an equivalent amount of UST. According to Coingecko, UST’s total market capitalization has surged 15% over the past 30 days to sit at roughly $17.5 billion at the time of writing. The figure currently places UST as the third-largest stablecoin after it flipped BUSD with a slightly lower market cap of $17.46 billion. The asset now trailing only behind industry giants Tether (USDT) at $82.8 billion, and USD Coin (USDC) at $50 billion, however, the gap is quite substantial at this stage. The data also shows that UST has been on a meteoric pump since mid-November, with the market cap increasing by 525% since then. UST Market cap: CoingeckoDespite flipping BUSD in terms of market cap, UST is trading in volumes well below its immediate competitor, with Binance’s stablecoin seeing $2.26 billion worth of trading volume over the past 24 hours compared to UST’s $431.79 million.According to CoinGecko, the market value of Terra’s stablecoin UST reached $17.5 billion on April 18, surpassing BUSD’s $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. But UST’s trading volume is very low, only 1/5 of BUSD.— Wu Blockchain (@WuBlockchain) April 18, 2022Terra has been grabbing the headlines of late, due in part to co-founder Do Kwon who recently vowed that the project will accrue a whopping $10 billion worth of Bitcoin (BTC) to back its UST reserves. Related Terraform Labs gifts another $880M to Luna Foundation GuardMuch like the wider crypto market of late, however, bullish announcements are doing little to push the price of LUNA upwards. The token’s price is down 12.4% over the past 30 days to sit at $77.31, while it is also down 34.4% since its brief all-time high of $119.18 on April 5.

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MetaMask warns Apple users over iCloud phishing attacks

MetaMask warns Apple users over iCloud phishing attacks

Uverejnil používateľ | apr 18, 2022 |

ConsenSys-owned crypto wallet provider MetaMask has sent out a warning to the community regarding Apple iCloud phishing attacks. The security issue for iPhone, Mac, and iPad users is related to default device settings which see a user’s seed phrase or “password-encrypted MetaMask vault” stored on the iCloud if the user has enabled automatic backups for their app data. In a Twitter thread posted on April 18, MetaMask noted that users run the risk of losing their funds if their Apple password “isn’t strong enough” and an attacker is able to phish their account credentials. To fix the issue, users can disable automatic iCloud backups for MetaMask as detailed: If you have enabled iCloud backup for app data, this will include your password-encrypted MetaMask vault. If your password isn’t strong enough, and someone phishes your iCloud credentials, this can mean stolen funds. (Read on ) 1/3— MetaMask (@MetaMask) April 17, 2022The warning from MetaMask came in response to reports from an NFT collector who goes by “revive_dom” on Twitter, who stated on April 15 that their entire wallet containing $650,000 worth of digital assets and NFTs was wiped via this specific security issue. In a separate thread earlier today, DAPE NFT project founder “Serpent” – who also helped gain the attention of MetaMask via posting sharing the story with their 277,000 followers — gave a rundown of what happened to the victim.They noted that the victim received multiple text messages asking to reset his Apple ID password along with a supposed call from Apple which was ultimately a spoofed caller ID.As they were reportedly unsuspecting of the caller, “revive_dom” handed over a six-digit verification code to prove that they were the owner of the Apple account. The scammers subsequently hung up and accessed his MetaMask account via data stored on iCloud. Key takeaways- ALWAYS use a cold wallet to store your valuables- Never give out verification codes to ANYONE- Protect your information, don’t give out your phone number or your personal email- Caller information is easy to spoof. Companies like Apple will never call you— Serpent (@Serpent) April 17, 2022

Related: MetaMask expands institutional offering by integrating new crypto custodiansAfter MetaMask posted the warning today, “revive_dom” expressed his frustrations with the company, noting that: “I’m not saying they shouldn’t do it but they should tell us. Don’t tell us to never store our seed phrase digitally and then do it behind our backs. If 90% of the people knew this I would bet none of them would have the app or iCloud on.”While most of the community response was supportive, others were quick to emphasize the importance of using cold storage and doing a lot of due diligence when storing assets in a hot wallet.

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