This week in coins. Illustration by Mitchell Preffer for Decrypt Companies are doing whatever possible to stay solvent during crypto winter—freezing redemptions, laying off employees, cutting spending, filing for bankruptcy, negotiating buyouts—but those conditions couldn’t prevent markets from warming over the last week. Bitcoin grew 8% over the last seven days to $22,337, as of this writing, but the world’s…
In brief Social media accounts for NFT projects, creators, and influencers are being hacked and used to share scam links, which can result in users’ NFTs and tokens being stolen. Some notable creators are conflicted over whether they should compensate affected users, citing Web3’s focus on self-custody and personal responsibility. Social media hacks are on the rise in the NFT…
Russian telecom and mass media watchdog Roskomnadzor has restored access to the website of the Tor Project, implementing a court ruling with delay. The site was blacklisted last year but the measure was successfully challenged by lawyers. Roskomnadzor Removes Tor Project’s Site From Blacklist of Banned Internet Pages Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media,…
The ongoing cryptocurrency bear market has triggered a massive decline in Bitcoin (BTC) mining profitability as BTC mining expenses outpace the price of Bitcoin. Closely tied to the drop in the BTC price, Bitcoin mining profitability has been tanking since late 2021 and reached its lowest multi-month levels in early July 2022. According to data from crypto tracking website Bitinfocharts,…
Dogecoin was down for a third straight session, despite Elon Musk stating earlier this week that Tesla was still holding the token. Polygon was also down, falling by almost 10% to start the weekend, as cryptocurrencies fell back into the red on Saturday. As of writing, the global crypto market cap is trading 4.81% lower. Polygon (MATIC) Polygon (MATIC) dropped…
With the first half of the year gone, statistics from the second quarter of 2022 indicate that the crypto economy has tumbled significantly in value, and crypto tokens in the top ten market positions have lost 30% to 60% in USD value during the past three months. Q2 data further shows that binance coin managed to avoid the losses its…
Consensus algorithms are processes where validators (also known as nodes or miners) within a blockchain network agree on the current state of the network. This mainly entails agreeing on whether a transaction submitted by a validator is authentic. Fraudulent or inaccurate transactions are rejected by the network assuming all validators are acting fairly with no malicious intent. Validators are rewarded…
Bitcoin moved towards $22,000 to start the weekend, as prices consolidated following Friday’s gains. Price uncertainty has heightened in crypto in the aftermath of recent rallies, which has pushed several tokens towards overbought territory. Ethereum also slipped on Saturday. Bitcoin Bitcoin (BTC) prices fell on Saturday, as price uncertainty in crypto markets continued to heighten following recent gains. The world’s…
The prolonged crypto winter razed off the inflated floor prices across the NFT ecosystem, inadvertently changing investor sentiment and forcing users to rethink their long-term investment strategies. Source: https://cointelegraph.com/news/fans-seek-trust-and-better-understanding-of-sports-nft-market-research
Telefonica, one of the largest communication companies in Spain, has decided to invest in Gamium, strengthening its metaverse push. The company will allocate a non-disclosed amount of funds to this metaverse initiative through Wayra, its innovation-based incubator arm. The company is also collaborating with Meta in the creation of a metaverse innovation hub for startups. Telefonica To Invest In…
