Monat: Februar 2022

The crypto markets were in the red this morning, with the majority of the top 10 cryptos registering losses over the past 24 hours.

Google owner Alphabet drove US markets up yesterday as the firm posted a surge in profits. The stock topped the SPX500 rising 7.33%.

Investors will be following several releases coming out of the Bank of England today, including the Monetary Policy Report and votes on Asset Purchase Facility and MPC official bank rate at 12:00 GMT.

These will be followed by a press conference held by BOE Governor Andrew Bailey at 12:30 GMT.

Top cryptos

Bitcoin was around 4% lower, trading below $37,000 at time of writing. Ethereum, Cardano and XRP were also down around 4%, while Solana was trading around 14% lower.

Top movers

Outside the top 20, Chainlink and Enjin Coin lost 10%, Fantom, Elrond, Aave, The Graph, and VeChain each lost 9%, The Sandbox shed 11% of its value, and Flow and Kadena were down by 12%. Convex Finance and Render Token shed 14% and Arweave was down 15%.

Quant was the biggest winner in the top 100 biggest coins by market cap yesterday. Today, its rally continues. It’s one of the few coins in the green. It has added 19% to its value and is currently trading for $128. 

Trending

Strike, the token of a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several markets supported by the platform, is up 50% today.

Ooki is the token of a decentralized protocol for margin trading, borrowing, lending and staking. It gained 85% on news of a Binance listing.

The post Market highlights February 3: Cryptos in the red, Alphabet tops SPX500 on strong earnings appeared first on Coin Journal.

Solana’s price has taken a hit again after attempting to correct the recent drop. This time the price is dropping after a bridge between Solana and Ethereum, called Wormhole Bridge, was hacked resulting in a loss of 120000 wrapped ETH with an estimated worth of $320 million.

Solana is currently trading at $98.45 with a drop of 9.42% in the last 24 hours. It is now trading 62.15% down from its November 6, 2021, all-time high of $260.06.

SOL’s current market cap stands at $30.9 billion. It has a circulating supply of 314.8 million SOL coins and a 24 hours trading volume of $3.2 billion.

Wormhole Bridge hack

According to emerging reports, the Wormhole Bridge was hacked in the early hours of February 3

According to reports and Twitter posts made by Solana Team, the hack resulted in a loss of about 120,000 wrapped ETH coins worth a whopping $320 million. After the hack, the team said that Ethereum (ETH) will be added to the bridge to ensure that any wrapped ETH on the Bridge is fully backed.

The wormhole network was exploited for 120k wETH.

ETH will be added over the next hours to ensure wETH is backed 1:1. More details to come shortly.

We are working to get the network back up quickly. Thanks for your patience.

— Wormhole🌪 (@wormholecrypto) February 2, 2022

On the other hand, Wormhole has already confirmed that the issue had been sorted out and the vulnerability has been patched. They are currently working on getting the entire network up again.

Wormhole developers went ahead to offer a bug bounty for the exploit details. They said:

“We noticed that you were able to exploit the Solana VAA verification and mint tokens. We would like to offer you a whitehat agreement, and present you a bug bounty of $10 million for exploit details, and returning the wETH you have minted.”

This hack, brings to light again the vulnerability of DeFi protocols, and the co-founder of blockchain analysis firm Elliptic Tom Robinson, said:

“This demonstrates once again that the security of DeFi services has not reached a level that is appropriate for the huge sums being stored within them. The transparency of the blockchain is allowing attackers to identify and exploit major bugs.”

Solana’s unending woes

The bridge hack is the latest in the growing list of Solana’s unending problems. First, it was four consecutive network outages on the Solana network in January and then this hack.

The hack came at a time when Solana was prepared to correct the market price fall of SOL that had resulted from the network congestions. It now complicates issues for the network taunted as an “Ethereum Killer.”

Samczsun, a paradigm security researcher, started by first determining if the hack started on Ethereum or Solana.

From Samczsun’s research, there were only two possible routes that the hacker(s) could have used. They either exploited the bridge or got the private keys. In addition, he said that there was a corresponding transaction on Solana where the hacker bridged out the ETH without depositing them by exploiting a vulnerability to mint wETH. The encoded VM that the attacker submitted showed that it contained valid signatures from the guardians

How did the @wormholecrypto exploit work? I joined forces with @gf_256 and @ret2jazzy to reverse engineer the exploit, and now that it’s been patched we can finally share it with you👇 pic.twitter.com/lXwD0GLZ3N

— samczsun (@samczsun) February 3, 2022

The post Solana price drops by 9%: all you need to know about the Wormhole Bridge hack appeared first on Coin Journal.

Quant was the biggest winner in the top 100 biggest coins by market cap yesterday. Today, its rally continues. It has added a third to its value today and is currently trading for $138. 

If you want to learn all the details around Quant, including whether it’s a valuable asset and the best places to buy Quant now, you’ve come to the right place.     

Top places to buy Quant now

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

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What is Quant?

Quant launched in June 2018 with the goal of connecting blockchains and networks on a global scale, without reducing the efficiency and interoperability of the network. It is the first project to solve the interoperability problem through the creation of the first blockchain operating system.

Quant’s operating system, Overledger, was designed to act as a gateway for any blockchain-based project to access all other blockchains. It also works in connecting an application to other applications in the same blockchain ecosystem, like Ethereum.

More than multiple blockchain interactions, Quant creates different layers for apps to interact at different levels. Quant has different layers for transactions, messaging, filtering and ordering, and an application for sharing and referencing identical messages related to other applications.

Should I buy Quant today?

Quant may be a unique and valuable asset, but it is also a volatile one. Any investment you make should be adjusted to your risk tolerance.   

Quant price prediction

According to Cryptonewsz, demand for Quant will skyrocket in December, resulting in a massive upswing in prices by the end of the year. 1 QNT will trade for $200 at this time.

In 2023, they predict a price of around $206. The following year, Quant will exceed the expectations of most cryptocurrency and forex investors, reaching $305.  

Quant on social media

$QNT beautfiul 4 hour chart. 46% down from sell to buy signal. 30% up since buy signal flashed. #Quant #QNT pic.twitter.com/Vb15DLC2Kp

— MTI_Trading (@MTI_Trading) February 3, 2022

The post No end to Quant’s rally in sight: top places to buy Quant now appeared first on Coin Journal.