Tuesday, February 27, 2024
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$60K is in sight, but will we reach it before the week ends? In today's news:
It's Bitcoin's turn 💰 The classic con 💸
Read on! | | 24h Hot Searches Worldwide 🔥 | | From Privacy Coins to Privacy Blockchains | | Privacy coins have lost 44.3% market share to privacy blockchains since 2021.
The top 3 privacy blockchains are Mina Protocol (23.2%), Oasis Network (13.6%), and Aleph Zero (6.1%), which have all overtaken Zcash and Dash in terms of market capitalization. | | |
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It's Bitcoin's turn 💰 After a week of staying just under the $52K range, Bitcoin regained its momentum with a 10% jump from $51,230 to $56,375 at the time of writing. The recent price action came off the heels of MicroStrategy acquiring an additional 3,000 BTC for $155.4M and a record $2.4B in daily trading volume for the nine new US spot Bitcoin ETFs. However, Bitcoin purists aren't the only ones celebrating, as the Bitcoin NFT community also saw some major wins over the past week. The floor prices of popular Ordinals PFP collections such as BitcoinPuppets and NodeMonkes rose by 134% and 107%, respectively. Besides that, there will also be an upcoming airdrop of Runestones, another Ordinals project, to over 112K eligible wallets. Despite their name, Runestones claims to be a pre-Runes project, where the inscriptions will be converted into Rune tokens once Casey Rodarmor, the original creator of Ordinals, launches the Runes protocol. Although the inscriptions have not been distributed, users can already trade Runestones for around $575 on Whales Market.
Editor's Take:
Although the Bitcoin ecosystem has grown by leaps and bounds since last year, it may be wise to watch for the latest developments. With all eyes on Bitcoin once more, Bitcoin Layer-2s and other forms of Bitcoin-related infrastructure are also steadily gaining the crypto community's attention. | | | Airdrops seem to be undergoing a resurgence along with the markets. Check out the top airdrops to watch for in 2024! | | | The classic con 💸 The name says it all.
Hong Kong-based crypto exchange BitForex has suddenly closed shop, leaving their customers scratching their heads and being unable to withdraw their funds.
However, crypto sleuth ZachXBT highlighted that the exchange's hot wallets recorded outflows of over $56M right before closing, with most of the funds consisting of TRB.
In fact, over 18% of the TRB supply was transferred out to an unknown wallet. As expected, users were quick to voice out their concerns across Bitforex's various social channels, with reports ranging from inaccessible accounts to account balances showing nothing but zero. However, these complaints might be futile as the exchange has also allegedly deleted messages meant to address the firm's abrupt closure.
While Bitforex has responded that they were conducting an 'unscheduled maintenance', it's pretty hard to believe, considering the exchange's community manager has gone silent and changed their profile picture since the incident. | | | Manta Pacific is the third-largest Layer 2 after Arbitrum and Optimism. Learn about Manta Network and how it is building a multi-modular system for ZK applications. | | | | | 🦎Tell us what you think! We've just revamped our newsletter with a new and fresh format!
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