Web3Crunch is your go-to source for expert crypto technical analysis and insights on the fast-evolving world of Web3. From blockchain to decentralized finance and NFTs, we've got you covered.
Coinbase Wallet is a self-custody wallet, giving you complete control over your digital assets, including cryptocurrencies and NFTs. Unlike holding your assets on an exchange, where the exchange controls the private keys, using Coinbase Wallet means you are in control of your private keys, which are encrypted on your device. This level of security and autonomy is crucial in the decentralized world of blockchain.
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So, Bitcoin decided to crash the $50K party for the first time since the days when we thought sourdough baking was a personality trait (circa December 2021). And Ether? It’s not sitting this dance out, especially with Franklin Templeton eyeing an ETH ETF like it’s the last slice of pizza. Strap in, folks. We’re diving into the crypto madness where the stakes are high, the rallies are dizzying, and everyone’s trying to figure out if we’re making history or just meme-worthy mistakes.
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Gamee, an Animoca Brands subsidiary, fell victim to a massive cyber-heist, losing $7 million worth of GMEE tokens. Hackers exploited unauthorized access, prompting urgent security measures and a community-focused recovery plan. Amidst a 45% GMEE price drop, Gamee’s response highlights the ongoing battle against crypto sector vulnerabilities.
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The FTX estate has offloaded nearly three-quarters of its Grayscale Bitcoin Trust (GBTC) shares, raking in around $600 million. This strategic liquidation is part of a broader plan to repay victims of the collapsed exchange, amidst a volatile market and the recent green light for GBTC’s conversion into a Bitcoin ETF by the SEC.
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ConcentricFi, operating on the Arbitrum network, has confirmed a security breach leading to a $1.6 million loss. The incident, which ties back to the infamous OKX Exploiter, prompted an immediate market response, crashing CONE prices by 57%. ConcentricFi urges users to halt all protocol interactions as it beefs up security measures.
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Crypto airdrops have emerged as a popular strategy for blockchain projects to distribute free tokens to their community members. These airdrops are a form of promotional activity with varying objectives, such as rewarding early adopters, broadening the project’s reach, and generating excitement among investors and traders.
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The crypto market faces a storm as futures traders lose $217 million, largely influenced by Grayscale’s potential bitcoin sale and GBTC’s price dip. Amidst this, newly approved bitcoin ETFs gain traction, while the overall market braces for a range-bound trajectory in the short term.
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Check Point Research has uncovered a large-scale NFT scam targeting APE token holders with fraudulent airdrops. Attackers are tricking victims into connecting their wallets to fake websites, resulting in significant fund losses. This sophisticated scam mimics legitimate sources, making it a dire warning for NFT enthusiasts.
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The cumulative volume of 11 spot bitcoin ETFs has soared past $11 billion in just four days, with Grayscale, BlackRock, and Fidelity leading the charge. Despite a slight dip in daily volume and bitcoin’s price, this development signals growing investor interest in crypto ETFs.
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NFT trading volume has halved in 2023, plummeting from $26.3 billion to $11.8 billion. Despite this downturn, marked by OpenSea’s struggles and macroeconomic challenges, the industry eyes a revival, particularly in gaming NFTs, which could redefine the sector’s future.
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