Značka: Coingecko

Dogecoin jumps after Elon Musk shares glimpse into Twitter 2.0 plans

Billionaire entrepreneur Elon Musk has confirmed that he intends on integrating payments into what he describes as Twitter 2.0 — “The Everything App” —  fuelling a short-lived 19.4% price surge for meme-inspired cryptocurrency Dogecoin (DOGE).The new Twitter CEO revealed his plans in a Nov. 27 tweet to his 119.2 million followers, in which he shared several slides from a recent “Twitter company talk.”Slides from my Twitter company talk pic.twitter.com/8LLXrwylta— Elon Musk (@elonmusk) November 27, 2022While Musk made no mention of DOGE in the tweet or in the attached slides, this didn’t appear to stop some investors from being hopeful that Dogecoin would be involved in some way.Payments in Dogecoin? @elonmusk #doge pic.twitter.com/DVn93nfdeg— Gail Alfar (@GailAlfarATX) November 27, 2022

According to data from CoinGecko, Dogecoin’s (DOGE) price surged 19.4% from $0.089 to $0.107 over several hours after the tweet before cooling off to $0.096 at the time of writing.Other plans listed as part of Musk’s vision for Twitter 2.0 included “Advertising as Entertainment,” “Video,” “Encrypted DMs,” “Longform Tweets” and “Relaunch Blue Verified.”Data from the slides also suggest that Musk’s takeover of the company has already made an impact, with the social media platform reaching an all-time high in terms of “new user signups” and “user active minutes,” which were up 86% and 30% respectively over the last week in comparison to the same seven day period in 2021. Related: Is DOGE really worth the hype even after Musk’s Twitter buyout?In October, rumors surfaced of Twitter’s crypto wallet plans after popular tech blogger Jane Manchun Wong speculated in a Oct. 27 tweet that the the company had already begun working on a wallet prototype that supports cryptocurrency deposits and withdrawals, which led to a DOGE price surge of 40% at the time. Lior Yaffe, the co-founder of Switzerland-based blockchain software company Jelurida recently told Cointelegraph that even if Musk were to integrate Dogecoin onto Twitter, it wouldn’t be a wise decision:“Even if they do manage to build a payment system around Twitter, there are much better blockchain solutions than Dogecoin to choose from with regards to security, privacy, smart contracts and scaling.”Daniel Elsawey, CEO and co-founder of decentralized exchange (DEX) TideFi also recently told Cointelegraph that while the integration is possible, its utility on Twitter would be strictly limited to payments:“Given that DOGE cannot directly interact with smart contracts as part of its original design, I would say that unless it’s specifically used as an option for payment, the use cases associated will continue to remain speculative.”

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FTX collapse could see crypto sector layoffs accelerate

The fall of crypto exchange FTX and potential resulting contagion could lead to an acceleration of crypto-company layoffs in the coming months, recruitment specialists warn.A Nov. 14 report from crypto data aggregator platform CoinGecko found that as of Nov. 13, the crypto space has seen 4,695 employees let go in 2022 so far, presenting 4% of staff cuts across all “technology startups.” However, the authors of the report warn that crypto layoffs could increase in the coming months when the “full impact” of FTX’s sudden collapse takes effect: “With the collapse of FTX since November 2 and its full impact on the cryptocurrency space still unfolding, further cryptocurrency layoffs may occur in the months to follow.”Speaking to Cointelegraph, CryptoRecruit founder Neil Dundon argues that while FTX’s events will cause some layoffs, it hasn’t changed the broader trend that crypto recruitment follows crypto prices.“Layoffs have been consistent effectively following the same trend as crypto prices. FTX hasn’t changed that broader trend albeit a tragic event,” he said, adding: “There will be layoffs because of it but that will present opportunities for good projects to scoop up good talent which we are collecting.”Kevin Gibson, the founder of recruitment firm Proof of Search was less optimistic, sharing that he had one candidate that was due to start employment today but had his offer “pulled” during the first call with the company. Gibson said it was hard to comment on how the FTX collapse will shake out as it’s “changing daily” but said his candidate’s experience “will not be an isolated incident.”Companies across the crypto sector have already undergone a number of layoffs throughout the year as a result of the market downturn. Among the most recent staff cuts in the industry include payment processor Stripe’s layoff of 1,000 employees, Flow blockchain developer Dapper Lab’s 22% cut, and venture capital firm Digital Currency Group’s 10% layoff. All layoffs took effect in early November.Digital asset-focused investment firm Galaxy Digital was also reported to be eyeing off a 20% cut on Nov. 1. Coinbase is understood to have cut another 60 staff on Nov. 10, according to Yahoo Finance.Related: Tech talent migrates to Web3 as large companies face layoffsThe latest CoinGecko report follows an earlier Nov. 4 report which looked into the cities most impacted by cryptocurrency layoffs. At the top of the list was San Francisco — home to Silicon Valley, one of the world’s largest technology and innovation hubs — which was followed by Dubai, New York City and Singapore.

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'Everything is fine' — Gala Games calls for calm after fears of multi-billion dollar hack

Blockchain gaming company Gala Games urged its community for calm after misplaced fears of a  multi-billion dollar rug pull or hack caused the GALA token to temporarily crash 25.6%.The initial panic, which Gala Games later implied was unfounded, came after a single wallet address appeared to mint over $2 billion GALA tokens out of thin air — which was flagged by blockchain security firm PeckShield on Nov. 3.Fears that the unusual activity was a sign of an exploit or rug pull caused the GALA token price to drop a dramatic 25.6% from $0.0394 to $0.0293 over a 130-minute stretch late on Nov. 3, according to data from CoinGecko. However, Gala Games took to Twitter on Nov. 4 to dispel the “FUD” surrounding its native token, explaining that “lots of people are tossing around words like ‘hack’ and ‘rug’. Neither of these is the case.” Update for everyone – there is a LOT of FUD out there surrounding $GALA…lots of people tossing around words like “hack” and “rug”. Neither of these is the case.Here is the real story – read this update from @BitBenderBrink and @pNetworkDeFi. https://t.co/ruI16v2Lkv— Gala Games – Spider Tanks is LIVE! (@GoGalaGames) November 4, 2022Gala Games president for blockchain Jason Brink explained that the unusual activity detected on decentralized exchange (DEX) PancakeSwap was performed by pNetwork, who was working to drain the liquidity pool as a means to safeguard it from a potential vulnerability. Before you panic about $GALA, please read this thread from @pNetworkDeFi.TLDR: Everything is fine. The activity you have been seeing on @PancakeSwap is pNetwork working to drain the liquidity pool. GALA on ETH is completely unaffected.Do not buy $pGALA on PancakeSwap for now https://t.co/bAnHxlVcp1— Jason Brink aka BitBender (@BitBenderBrink) November 3, 2022

In a separate tweet, pNetwork, the cross-chain interoperability bridge used by Gala Games on the Binance Smart Chain, confirmed that a “misconfiguration” event took place. It also responded to a tweet from Peckshield to note that it “coordinated the white hat attack” to prevent pGALA from being exploited:Yes, we noticed pGALA wasn’t to be considered safe anymore and coordinated the white hat attack to prevent pGALA from being maliciously exploited. Funds are safe but users should NOT transfer or buy/sell pGALA on pancakeswap— pNetwork (@pNetworkDeFi) November 3, 2022

The explanations appear to have quelled some panic, with the GALA token price since partially recovered from its 24-hour low of $0.0293 to now sit at $0.352. Related: Major hack on play-to-earn crypto games a ‘matter of time:’ ReportGala Games confirmed that all GALA tokens on Ethereum and GALA-related assets on the GALA bridge were safe, the team, along with pNetwork informed the community of its decision to “temporarily suspend” transaction activity on the bridge. Brink also advised not to buy pGALA on PancakeSwap “for now.” “A new pGALA token will be created to replace the old compromised one” which will be sent to those who owned pGALA before the pool was drained, pNetwork said.

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CoinGecko open to acquisition but now is ‘too early,’ co-founder says

Major cryptocurrency tracking website CoinGecko is open to acquisitions, but not right now, according to a co-founder of the platform.CoinGecko has been hit by the current crypto bear market but the firm is far from selling off, CoinGecko chief operating officer Bobby Ong told Cointelegraph.Ong believes that all crypto-related companies are affected by the cyclical nature of the industry as they usually do well during bull runs and struggle during bear markets.“During this crypto winter, we at CoinGecko are similarly impacted. This will be our third crypto winter and we are focused on improving CoinGecko to prepare for the eventual bull run that will come again,” Ong said.According to COO, CoinGecko had 100 million monthly pageviews in July, experiencing a 85% decrease in traffic compared to peak in November 2021. The traffic decline comes in line with the price movement of Bitcoin, which reached an all-time high above $68,000 last November. “This has definitely impacted revenue as advertising is one of our major revenue drivers and is a function of pageviews received,” Ong noted. He also said that new token listings on CoinGecko dropped about 70% from last year.Despite shrinking revenues and the ongoing uncertainty around the crypto market, CoinGecko is still holding strong in terms of its headcount. The firm nearly doubled its staff over the past seven months from 30 to 57 team members and has not laid off any employees. CoinGecko hasn’t instituted any hiring freeze as well, Ong said.“In fact, we just paid out a small bonus to all team members for the first half of 2022 despite the bear market. We are also in the process of reviewing our salaries to make it more competitive to hire and retain the best talents,” the COO stated, noting that CoinGecko has a few remaining open roles for the rest of the year.CoinGecko is the biggest rival of CoinMarketCap, the crypto price-tracking website that was bought by Binance in April 2020. The acquisition came during the post-2017 crypto winter, with Bitcoin trading between $7,000-8,000 during the month of acquisition. Binance has never officially announced the cost of the deal, while it was rumored to cost the firm $400 million.Bitcoin price chart from May 2017 to April 2020. Source: CoinGeckoFollowing CoinMarketCap’s acquisition, Ong said that the firm was approached multiple times by exchanges, venture capitalists and angel investors but CoinGecko opted to prioritize independence and stay neutral. The company’s views have somewhat changed since, as CoinGecko considers it might sell the platform one day, Ong said, stating:“At some point in the future, we will be open to selling the firm but right now, it is too early to sell. The crypto industry is still in its first inning and there will be high growth in the coming years.”Ong once again predicted that “anything that can be tokenized will be tokenized in the future,” which would require a reliable source to track all those tokens.Related: ‘Builders rejoice’: Experts on why bear markets are good for Bitcoin“CoinGecko aims to empower the decentralized future by being the foundational infrastructure to help people get the information they need on the millions of tokens that will be listed in the future,” the COO noted.He also emphasized that the bear market is the best time to focus on building great products as there is “significantly less noise and distraction from short-term trends.”

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Etherscan, CoinGecko warn against ongoing MetaMask phishing attacks

Popular crypto analytics platforms Etherscan and CoinGecko have parallelly issued an alert against an ongoing phishing attack on their platforms. The firms began investigating the attack after numerous users reported unusual MetaMask pop-ups prompting users to connect their crypto wallets to the website. Based on the information disclosed by the analytics firms, the latest phishing attack attempts to gain access to users’ funds by requesting to integrate their crypto wallets via MetaMask once they access the official websites. Security Alert: If you are on the CoinGecko website and you are being prompted by your Metamask to connect to this site, this is a SCAM. Don’t connect it. We are investigating the root cause of this issue. pic.twitter.com/7vPfTAjtiU— CoinGecko (@coingecko) May 13, 2022Etherscan further revealed that the attackers have managed to display phishing pop-ups via third-party integration and advised investors to refrain from confirming any transactions requested by MetaMask. We’ve received reports of phishing popups via a 3rd party integration and are currently investigating. Please be careful not to confirm any transactions that pop up on the website.— “The Etherscan” (@etherscan) May 13, 2022

Pointing toward the possible cause of the attack, @Noedel19, a member of Crypto Twitter, connected the ongoing phishing attacks to the compromise of Coinzilla, an advertising and marketing agency, stating that “Any website that makes use of Coinzilla Ads are compromised.”Compromised CoinZilla source code with phishing link. Source: @Noedel19The screenshots shared below show the automated pop-up from MetaMask asking to connect with the link falsely portraying as Bored Ape Yacht Club’s (BAYC) non-fungible token (NFT) offering.CoinGecko website showing fake MetaMask pop-up. Source: @Noedel19On May 4, Cointelegraph further warned readers about the rise in Ape-themed airdrop phishing scams, which is further cemented by the latest warnings issued by Etherscan and CoinGecko.While an official confirmation from Coinzilla is still underway, @Noedel19 suspects that all companies that have ad integration with Coinzilla remain at risk of similar attacks wherein their users get pop-ups for MetaMask integration. As a primary means of damage control, Etherscan has disabled the compromised third-party integration on its website.Coinzilla has not yet responded to Cointelegraph’s request for comment. Related: Bored Ape Yacht Club NFTs stolen in Instagram phishing attackThe team behind BAYC recently warned investors about an attack after hackers were found to breach their official Instagram account. There is no mint going on today. It looks like BAYC Instagram was hacked. Do not mint anything, click links, or link your wallet to anything.— Bored Ape Yacht Club (@BoredApeYC) April 25, 2022

As Cointelegraph reported on April 25, hackers were able to gain access to BAYC’s official Instagram account. The hackers then contacted BAYC’s Instagram followers and shared links to fake airdrops. Users who connected their MetaMask wallets to the scam website were subsequently drained of their Ape NFTs. Unconfirmed reports suggest that approximately 100 NFTs were stolen during the phishing attack.

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The NFT sector is projected to move around $800 billion over next 2 years: Report

Although NFTs have been a part of the cryptocurrency market since 2014, interest and adoption ha risen rapidly over the last two years. At their height in August 2021, the total trading volume of NFTs rose to over $5 billion, kickstarting what briefly came be to known as “NFT Summer”.According to a report by Coingecko, the NFT market is now expected to move more than $800 billion in the coming two years. The report, which mostly utilized investors from Asia and the Pacific, highlighted that of 871 respondents, around 72% of them already own NFT(s), with more than 50% of them declaring that they had 5 or more.As for investors, the report indicated a balance between the generations, suggesting 43.6% of NFT investors surveyed were between 18-30 years old and 45.2% are between 30-50 years old.While the bulk of the NFT market appeared to be concentrated in popular collections such as the Bored Ape Yacht Club (BAYC) and CryptoPunks, 35.8% of respondents said they were interested in NFTs linked to play-to-earn and metaverse games, and 25% stated that they prefer art NFTs.”The metaverse sector is projected to move around $800 billion over the next 2 years, and gaming appears to be the most likely entry point into the NFTs market,” the report highlighted.”Our respondents have indicated that “flip & earn” was the primary motivation behind their NFT purchases, though 2/3 of respondents indicated that NFTs only made up

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

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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Bitcoin briefly dethroned by unknown altcoin due to CoinGecko glitch

CoinGecko, one of the largest cryptocurrency tracking websites in the world, has suffered a major glitch on Friday morning, with Bitcoin (BTC) mistakenly losing its position as the largest digital currency by market capitalization to a lesser-known altcoin.The list of top-valued cryptocurrencies on CoinGecko briefly went somewhat irrelevant, with the BTC market cap temporarily falling behind a token known as Relevant (REL).As of 07:20 am UTC, REL was mistakenly placed at the top of the most-valued cryptocurrencies on CoinGecko, with the market cap going insane at $6.5 septillion, or way more than all other assets in the world combined.Source: CoinGeckoThe glitch also affected the total crypto market capitalization on CoinGecko, with the market cap temporarily growing as big as $7 septillion. The issue was quickly fixed as the website data appeared to be back to normal as of 8:20 am UTC.CoinGecko co-founder and CEO Bobby Ong told Cointelegraph that the website’s errors were due to a major glitch, stating:“We are facing an internal glitch over here affecting the market cap of some coins and are fixing this issue now. Things are stabilizing so hopefully no more cases like this happening again.”According to CoinGecko’s major competitor website, CoinMarketCap, the REL token subsequently surged following the glitch, with the price surging to $0.9, or over 20% over the past 24 hours at the time of writing. The coin’s fully diluted market cap is now worth $24.7 million, ranked the 5,378th token by market cap, according to the website.The REL token was launched by crypto developer Slava Balasanov in 2018. After hitting the all-time high above $8 in April 202, the REL token subsequently plummeted below $1 in a couple of months.Some enthusiasts in the crypto community chuckled about CoinGecko’s latest glitch as it came shortly after CoinMarketCap’s owner Binance announced a $200 million investment in Forbes on Thursday.In light of Binance’s 200m investment in Forbes, this is how CoinGecko plans to stay relevant pic.twitter.com/u7BC8XOw22— Darren Lau (Lau, Lau) (@Darrenlautf) February 11, 2022Related: CoinMarketCap removes allegedly fake SHIB wormhole addressesCoinGecko is not alone in facing glitches like this though. CoinMarketCap experienced a similar issue one year ago, with Wrapped Bitcoin suddenly gaining quadrillions of dollars in value, briefly and mistakenly becoming the website’s most-valued cryptocurrency in January 2021.

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Why Kevin O'Leary thinks NFTs could become bigger than Bitcoin

Millionaire investor and crypto proponent Kevin O’Leary thinks that the NFT sector could be worth more than Bitcoin in the future. Speaking with CNBC’s Capital Connection on Jan. 5, O’Leary — also known as Mr. Wonderful — argued that NFTs provide a greater potential to attract capital than Bitcoin due to their ability to tokenize and authenticate physical assets such as cars, watches and real estate: “You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone.”Mr. Wonderful admitted however, that he is not tied to that bet and will still be investing on “both sides of that equation.”The former crypto skeptic told Cointelegraph in a recent interview that his change in tune towards blockchain and digital assets was due to the growing trend of regulators warming up across the globe over the past couple of years. Not everyone agrees with comparisons between Bitcoin and NFTs however, with Coingecko digital marketing associate Khai Ren Kuan telling Cointelegraph that it’s “probably not fair to compare Bitcoin, which is a single asset, to NFTs which are an entire sector.”Kuan did note however, that the NFT adoption curve in 2022 is only going to increase upwards as the sector is still in its early days:“I think collectively if you look across all NFTs, and the fact that 2021 was year one of market adoption, there’s definitely still a lot of room to grow.”“We’ve already got a set of ‘blue chip’ NFTs, but I think the industry is still barely scratching the surface of what NFTs could be and what they could do, particularly if the Metaverse comes to fruition,” he added.Related: Global search interest for ‘NFT’ surpasses ‘crypto’ for the first time everCoingecko recently published a new book called “How to NFT” which provides a rundown for newbies entering the nonfugible space on how to buy, sell, store and mint NFTs. Questioned on whether he thinks the “NFT art narrative” will continue to dominate in 2022, or if the trend will shift towards utility-based NFTs, Kuan said: “Arts and collectibles are always going to be high on the list as they’re the most beginner-friendly and easiest to understand. In terms of utility NFTs I think what’s probably interesting to watch for is how some NFTs are going to both be art, and have utility.”“We’ve seen BAYC which the NFT doubles as membership into their ‘club’, and it really helps build a sense of identity and community,” he added.

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