Kategorie: Crypto News

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Shiba Inu whales accumulated a staggering 1 trillion SHIB in 8 weeks

  • Shiba Inu wallet addresses with 10 million to 100 billion added 1.11 trillion SHIB since June 4.
  • The increased whale activity comes amid bullish sentiment for Shiba Inu ahead of its Shibarium launch.
  • SHIB price was slightly higher on Saturday, trading around $0.00000830.

Shiba Inu is among altcoins to see a significant surge in their prices over the past week, with the meme coin largely benefitting from whale activity.

According to on-chain data from market intelligence platform Santiment, large holders have accumulated staggering amounts of SHIB since early June.  This spike in whale activity comes ahead of a highly anticipated Shiba Inu ecosystem event – the launch of the layer-2 solution Shibarium.

While only testnet access is available for now, the huge anticipation surrounding Shibarium is one of the factors driving interest in the meme coin.

Shiba Inu whales gorge on SHIB

As Santiment shared on Friday, large Shina Inu wallets in the category of “sharks” and “dolphins” have added more than $9 million worth of SHIB over the past two or so months.

Indeed, on-chain data indicates addresses with 10 million to 100 billion SHIB have accumulated 1.11 trillion of the meme token since June 4. The total SHIB holdings in the hands of these large investors stood at $32.49 trillion on Friday, July 28. In total, this group holds roughly $266 million worth of SHIB.

Here’s Santiment’s chart showing the increased SHIB accumulation by 10 million to 100 billion address cohort.

SHIB price outlook

SHIB traded at $0.00000830 on Saturday afternoon, about 2% up in the past 24 hours after paring gains seen when it reached intraday highs of $0.00000840 across major exchanges.

CoinGecko ranks Shiba Inu the 15th largest cryptocurrency by market cap, with this at over $4.9 billion at the time of writing.

The post Shiba Inu whales accumulated a staggering 1 trillion SHIB in 8 weeks appeared first on CoinJournal.

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zkSync Era protocol Kannagi Finance rugpulls, users lose millions

  • Kannagi Finance has reportedly rugpulled, with users losses amounting to $2.13 million.
  • Protocol’s social media channels have been deleted or are unaccessible.
  • KANA token has nosedived, plunging by 99% after the incident.

Kannagi Finance, a revenue aggregator protocol on zkSync Era, has reportedly rugpulled. Users have suffered major losses, while the price of the native token KANA has nosedived.

The protocol’s official website has allegedly “expired”. Meanwhile, its social media channels, including the official Twitter account are inaccessible. Total value locked (TVL) has plummeted from $2.13 million on Friday to near zero this morning, putting users losses at over $2 million.

TVL plunged to near zero

Kannagi Finance is said to have had its audit on June 6, handled by SolidProof, an audit agency under Germany-based Make Network. However, the protocol’s smart contract code remained closed-source and unverified.

 “The zkSync Era revenue aggregator protocol Kannagi Finance has RugPulled, and its official website have expired. The TVL of Kannagi Finance was $2.13 million yesterday, and the current TVL has almost returned to zero, so the estimated user loss is $2.13m.  The Kannagi Finance contract code is not open source verified,” Wu Blockchain reported earlier Saturday.

A statement from SolidProof acknowledges the incident and say they are “thoroughly investigate the situation.” However, they have pointed out that the platform, which has worked with BitMart, PinkSale and UNCX, did not audit the Vault contracts for the reported incident.

“However, as a registered security provider, our top priority is to assist in resolving this issue promptly and transparently,” the statement read.

Following the incident, Kannagi Finance’s native token KANA plunged 99% to near zero.

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Solana’s Aurory goes cross-platform with expansion to Arbitrum

  • Solana based Aurory has expanded to Arbitrum, a leading L2 for Ethereum.
  • $1 million in AURY liquidity has been added to the Arbitrum native DEX Camelot.
  • AURY price surged more than 22% to hit highs of $1.00.

Aurory, a leading NFT and gaming project in the Solana ecosystem, is seeing fresh adoption after it announced expansion to Ethereum Layer-2 protocol Arbitrum.

According to the platform, expanding to Arbitrum is all about accessibility and bringing more users to the gaming platform.

“Using SyncSpace to expand Aurory to multiple platforms allows us to tap into diverse new user bases, creating frictionless onramps for these communities, regardless of whether they are Web2, or Web3 native,” the Aurory team said.

The integration means that all of Aurory’s on-chain assets are now accessible on either Solana or Arbitrum. Users on the Arbitrum network can get AURY by depositing USDC into SyncSpace, then swapping the stablecoin for AURY.

As a native token, AURY can be used across the Aurory ecosystem. The teams announced that $1 million of AURY liquidity had been seeded on Arbitrum native DEX Camelot.

Aurory’s availability on Ethereum marks a first major milestone for the gaming platform and could be followed by more expansions to leading chains like BNB, Polygon and Avalanche. Meanwhile, experts say Aurory is one of Solana-based gaming projects likely to revolutionise the global play-to-earn (P2E) ecosystem.

AURY price outlook

The AURY price was up more than 22% in the past 24 hours at the time of writing, trading just shy of one dollar at $0.99. The intraday high was $1.00, with price up 135% in the past seven days. The cryptocurrency had a 24-hour trading volume of over $1 million, up more than 23%.

Aurory has a total supply of 100 million coins, current circulating supply of 31 million and market cap of over $30 million.

The post Solana’s Aurory goes cross-platform with expansion to Arbitrum appeared first on CoinJournal.

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Bitget Token (BGB) surges as MEXC announces listing

  • Bitget will list MX Token (MX) while MEXC will add Bitget Token (BGB).
  • Both listings will be on July 31, with trading pairs BGB/USDT and MX/USDT.

Bitget Token (BGB), the utility token of crypto exchange Bitget, will be listed on MEXC Global on July 31, the exchanges announced on Friday.

MEXC will list the Bitget token in the Innovation Zone and has opened deposits for BGB. Initial supported pair will be BGB/USDT, with trading set for Monday, July 31 at 10:00 UTC. Withdrawals will be available from August 1, 2023 at 10:00 UTC, the exchange noted

As MEXC lists BGB, Bitget will also be adding trading support for MX Token (MX), the native utility token of the MEXC Global exchange. The simultaneous listing will go live on July 31, with MX/USDT added to the Platform Token Zone.

BGB price jumped more than 4% following the listing news, with the utility token’s value reaching an intraday high of $0.46. This isn’t far from the all-time high for BGB/USD, which was $0.51 reached in February this year.

Bitget launched an updated version of its token in July 2021. It is used as a form of payment in the exchange platform’s ecosystem, and can be staked or for discounts on trading fees.

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France’s privacy watchdog questions Worldcoin’s data collection

  • France’s privacy watchdog reportedly questions Worldcoin’s biometric data collection.
  • Worldcoin, created by OpenAI CEO Sam Altman, launched on Monday.
  • Users have to scan their irises to get a World ID and crypto token WLD.

IIn latest crypto news, France’s privacy watchdog is reportedly examining legal issues around recently launched Worldcoin (WLD), particularly its biometric data collection.

According to a Reuters report on July 28, the Commission nationale de l’informatique et des libertés (CNIL), had indicated it has questions over Worldcoin’s requirements that include users scan their irises using an orb.

The CNIL has said it opened investigations after Worldcoin collected data from users in France, per details published in the Reuters report.

Worldcoin offers access to a digital ID and free cryptocurrency (in countries where regulation allows) to people who sign up to a “proof of personhood.” Data shows the project created by OpenAI CEO Sam Altman has seen increased sign ups since its launch on Monday.

The project says one unique person is scanning their eyeballs for the World ID every 7.6 seconds.

France’s action comes days after the UK’s The Information Commissioner’s Office also announced it was looking into Worldcoin.

The post France’s privacy watchdog questions Worldcoin’s data collection appeared first on CoinJournal.