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These are the best NFT crypto projects to watch out for in February

NFT FTX Token

In 2021, NFTs or non-fungible tokens simply exploded. We saw unprecedented NFT sales, and there is no doubt this is a subsector of the crypto market that is worth noting. Here are some of the reasons why:

  • NFTs can be great stores of wealth when the market is slumping.
  • Many exciting new projects in NFTs keep coming out regularly.
  • There is hope that NFTs will also boom with the rise of the metaverse.

Well, if you ever wanted to invest in the future of NFTs, there are a few new and exciting projects you can consider. Here is the full list.

FTX Token (FTT)

FTX Token (FTT) is one of the leading crypto exchanges in the world. It is geared for the daily trader thanks to its wide range of derivative products. However, over the last few hours, FTX announced a new initiative that will see increased investment in gaming and NFTs.

Data Source: Tradingview 

In fact, the platform is looking to make NFTs widely adopted across the world not just as a store of value but also as a unique asset class within crypto.

Crypto.com (CRO)

Crypto.com (CRO) is not what you would call a new NFT based project. It is in fact one of the oldest exchanges in the world. But just like FTX, Crypto.com has also been making incredible moves in the NFT space.

The launch of a dedicated NFT marketplace as part of the CRO ecosystem is one of these moves. We expect the crypto.com NFT platform to grow and deliver immense value in the near and long term.

Chiliz (CHZ)

Chiliz (CHZ) is one of the leading sports entertainment blockchains behind the many fan tokens we have seen with football clubs in Europe. The platform is also spending a lot of resources on building a broad NFT platform for sports memorabilia and other items. It is worth watching in the coming months.

The post These are the best NFT crypto projects to watch out for in February appeared first on Coin Journal.

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Komodo (KMD) up 5% in 7 days: factors behind the jump as a majority of coins drop

Komodo (KMD) coin prices have jumped 5% amid the global crypto bloodbath and despite today’s pullback is poised for a major take-off going by its recent price movements.

Today, the KMD coin started by shooting up by more than 25% to clinch a daily high of $0.657233, before pulling back to a price of $0.478111 at the time of writing.

Let’s take a deep dive into the factors fuelling Komodo’s price surge.

What is Komodo and why is its price rising?

In a nutshell, Komodo is an open decentralized multi-chain platform. Its native token is KMD.

Both the Komodo platform and the KMD coin have been gaining traction across the crypto space because of Komodo’s alternative approach to achieving cross-chain interoperability.

Below are the main reasons contributing to the current KMD price hike.

1. Multiple blockchain networks integration

One of the best and major developments that the Komodo protocol has made this year is the recent support for 13 separate blockchain networks on AtomicDEX.

AtomicDEX offers support to Ethereum Virtual Machine-compatible networks and networks that share a source code with Bitcoin (BTC) like Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH).

Also, according to comments from different parties, there is a possibility of some more coins like Cosmos, Polkadot, and Digibyte getting integrated on AtomicDEX in the future.

2. Launching NFTs on Komodo Network

The other reason for the KMD price surge is the launching of Non-Fungible Tokens (NFTs) on its ecosystem. The most recent NFT collection to be launched is the upcoming launch of Cyber Komodos, a collection of 777 unique Komodos with varying rarity that is scheduled for launch on 15th, March this year on the Tokel NFT platform.

Currently, NFTs are trending the most within the crypto space and they are attracting both new users as well as engaging their communities.

3. Cross-chain interoperability

Achieving secure cross-chain interoperability has not gone unnoticed. Most of the cross-chain projects have been faced with security challenges with some being exploited by hackers. The most recent high-profile exploit of cross-chain bridges is the Wormhole bridge hack on the Solana network.

The post Komodo (KMD) up 5% in 7 days: factors behind the jump as a majority of coins drop appeared first on Coin Journal.

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FCA warns crypto businesses about mergers shortly after Bitpanda deal

  • The UK regulator says it has powers to cancel the registration of a crypto business if it’s found not to be compliant with set requirements.

  • Bitpanda announced the acquisition of DeFi custodian firm Trustology on Tuesday morning.

UK’s financial regulator, the Financial Conduct Authority (FCA), has warned crypto-asset businesses about mergers, citing the lack of a regulatory environment to assess the new owner’s compliance.

The FCA’s statement came shortly after crypto exchange Bitpand announced the acquisition of UK-registered DeFi custodian platform Trustology.

Regulated businesses to comply with requirements

According to the financial regulator, Trustology is a regulated business under the country’s Money Laundering Regulations (MLRs) provisions. 

The acquisition is thus beneficial to the acquiring company under the MLR rules. However, the said provisions do not provide for access to regulatory aspects touching on the new owners, it added in a statement.

The MLRs do not include any provisions that allow the FCA to assess the fitness and propriety of beneficial owners or changes in control before a transaction is completed,” the agency said.

In this case, the regulatory purview of the MLRs differs from other regulatory provisions, the statement added. With these in place, the watchdog has supervisory, authorisation, and enforcement powers on all businesses operating in the United Kingdom.

“The FCA can take steps to suspend or cancel the registration of a crypto asset business if it is not satisfied the firm or its beneficial owner is fit and proper,” the financial markets regulator warned. 

It added that it could suspend or cancel a crypto asset firm’s registration if it’s determined that the concerned firm has failed to comply with set requirements.

Bitpanda announced it had acquired Trustology on Tuesday, with this the first-ever such merger in the UK’s crypto regulated landscape.

Bitpanda is an Australia-based cryptocurrency exchange that’s regulated in the EU. According to the exchange, the move to acquire the custodian wallet works towards the transitioning of Bitpanda Pro into a fully-fledged prime brokerage platform.

The post FCA warns crypto businesses about mergers shortly after Bitpanda deal appeared first on Coin Journal.

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Bitcoin could fall to $30,000 with this ‘perfect storm’ of factors, analyst says

  • The Russia-Ukraine crisis, higher rates, and new crypto regulations in the US could be the “perfect storm” that sends Bitcoin to $30,000, said the analyst.
  • Bitcoin tested lows of $36,500 and is finding it hard to stay above $38k amid investor uncertainty.

Bitcoin is down 3% in the past 24 hours, with price movement on Tuesday including an intraday low of $36,500.

The bellwether crypto is down more than 11% this past week and fell heavily on Monday amid a confluence of macro factors analysts say could combine for a ‘perfect storm’ of negative price drivers.

As of writing, the cryptocurrency has bounced above $37k but remains weak. According to one analyst, the current market conditions might see BTC prices fall below the major support level at $30,000.

This could be the „perfect storm“

On Monday, Russian President Vladimir Putin signed a decree recognizing the self-proclaimed republics of Donetsk and Luhansk as independent. He then followed it up with an order sending troops into the Ukrainian regions, prompting sanctions from the US, and the European Union. The UN Security Council also met and condemned Putin’s move.

Bitcoin price reacted alongside stocks to hit multi-week low, with further rot likely as US markets opened after Monday’s President Day holiday.

The fresh downside pressure comes amid continuing jitters among investors as the US Federal Reserve looks to implement the first of many rate hikes.

Meanwhile, the crypto market is anticipating a regulatory shift in the US with an impending executive order from the White House.

„The Ukraine crisis, compounded by rising interest rates and crypto regulations in the US, may create a perfect storm driving the bitcoin to test the $30,000 level,“ CloudTree Ventures’ Winston Ma told the Street.

According to him, Bitcoin continues to act “more like high growth tech assets,” and the risk-off sentiment may greatly influence crypto markets.

Crypto analyst KALEO says there is the possibility of a bullish bounce to $40,000 and above. However, with weakness still abounding, the next major support level could be found at $32,000.

“BTC found support at the base of the Feb 3rd lows where we saw the bullish leg up. Macro structure still looks weak, and I wouldn’t find any confidence in this bounce until a break above $40K. Still expecting this to slowly bleed out until a breakdown to ~$32K,” he said.

Bitcoin was trading around $37,785 at the time of writing.

The post Bitcoin could fall to $30,000 with this ‘perfect storm’ of factors, analyst says appeared first on Coin Journal.

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REVEALED: Research claims a former crypto CEO hacked The DAO in 2016

  • Laura Shin says that investigations point to former TenX CEO as the man behind the hack on The DAO.
  • The alleged hacker has reportedly denied the accusation.

Crypto journalist Laura Shin says that extended research and investigation around the infamous hack on The DAO in 2016 was able to unearth the identity of the hacker as one Toby Hoenisch, an apparent well-known figure within the crypto space.

The senior Forbes contributor revealed she worked with blockchain analytics firm Chainalysis to trace the DAO funds’ movement.

“Who hacked The DAO? My exclusive investigation, built on the reporting for my new book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, appears to point to Toby Hoenisch, a 36-year-old programmer who grew up in Austria and was living in Singapore at the time of the hack,” Shin wrote in an article published Tuesday, February 22.

Shin adds that Hoenisch has until the articles’ publication a well-known figure whose crypto profile includes being the co-founder and CEO of TenX, an $80 million initial coin offering (ICO) project that failed to live up to expectations.

The alleged hacker denies DAO hack

According to Shin’s article, Hoenisch has denied being the hacker behind the 2016 attack that saw The DAO lose 3.64 million ETH tokens.

Hoenisch is said to have replied to an email detailing his role by saying that the “statement and conclusion” indicated were “factually inaccurate.”

But investigations by Shin and blockchain analytics platform Chainalysis, tracking a 50 BTC transaction to a Wasabi Wallet was able to unmask the hacker as Hoenisch.

Per the research, Chainalysis was able to use never-before-revealed monitoring technology to “de-mix” the bitcoins and trace them to four exchanges.

Blockchain research helps identify hacked funds

From one of the exchanges, the alleged hacker swapped the BTC for the privacy coin Grin. These tokens were then sent to a Grin node that analysis showed as grin.toby.ai. The IP address of this particular node was also connected to other nodes such as ln.toby.ai and lnd.ln.toby.ai, with another linked to TenX.

“For anyone who was into crypto in June 2017, this name may ring a bell. That month, as the ICO craze was reaching its initial peak, there was an $80 million ICO named TenX. The CEO and cofounder used the handle @tobyai on AngelList, Betalist, GitHub, Keybase, LinkedIn, Medium, Pinterest, Reddit, StackOverflow, and Twitter. His name was Toby Hoenisch.”

Apart from these “links”, Shin says Hoenisch had been an active individual around The DAO, severally emailing the platform’s developers Slock.it.

The story has just broken after Shin’s book was published and it is now likely a lot more could be revealed, including from those Hoenisch emailed.

The DAO remains one of the largest thefts in the crypto space, even though the hacker never managed to cash out all the stolen funds. At the time in 2016, The DAO’s stolen funds amounted to about $60 million.

Today, that would be nearly $10 billion following Ether (ETH) prices rallying from lows of $20 then.

The post REVEALED: Research claims a former crypto CEO hacked The DAO in 2016 appeared first on Coin Journal.