By staking market cap, Terra’s LUNA dethrones Ethereum 2.0 to be the number two cryptocurrency.
LUNA, Terra’s native cryptocurrency, has seen a robust increase despite recent market turmoil. The LUNA cryptocurrency is aiming for a new all-time high and is now trading 7.5 percent higher at $95.36 with a market capitalization of $35.7 billion. According to the most recent data from staking incentives, Terra’s LUNA has surpassed Ethereum 2.0 as the second-largest Proof-of-Stake (PoS) network. With increasing demand among DeFi protocols, Terra’s LUNA has emerged as a significant challenger to Ethereum. Terra LUNA, on the other hand, trails Ethereum in terms of total value locked (TVL), which presently stands at $23.7 billion. Among the top ten cryptocurrencies, LUNA has seen the most growth in the last week, with a gain of 77%. It has surpassed giants such as Solana (SOL), Cardano (ADA), and Avalanche to become the seventh-largest cryptocurrency by market cap (AVAX). So, why is the cost of LUNA so high? The Luna Foundation Guard (LFG) announced last week that the LUNA cryptocurrency would be sold over-the-counter. This money will be used to “establish a Bitcoin-denominated Forex Reserve for UST,” according to the Luna Foundation. LFG explained why this was done: Although the widespread adoption of UST as a consistently stable asset through market volatility should already refute this, a decentralized Reserve can provide an additional avenue to maintain the peg in contractionary cycles that reduces the reflexivity of the system. In terms of user acceptance, Terra has been one of the fastest-growing Layer-1 protocols. The price of its own cryptocurrency, LUNA, has mirrored this. Terra is also on track to cut into Ethereum’s DeFi market cap. In such a short amount of time, the Terra ecosystem now hosts 13 DeFi protocols. This year, a huge number of DeFi protocols are expected to enter the Terra ecosystem. LUNA’s price has also risen due to the burning mechanism of Terra’s native stablecoin, UST.
Metaverse users are now being targeted by a sophisticated phishing attack using MetaMask.
A sophisticated phishing attempt targeting crypto and metaverse users utilizing non-custodial wallets like MetaMask has been discovered by Guardio, a cyber security business. Phishing campaigns are being ramped up by attackers. The Guardio research team noted in a recent blog post that the illicit operation is operating at full throttle in terms of breadth and depth. Hackers were using time-tested web infiltration tactics like domain typo-squatting techniques accelerated by malvertising campaigns where victims unknowingly approve payment to attackers via cloned websites of leading NFT and metaverse brands like OpenSea and others, according to the cybersecurity startup. These NFT and metaverse websites typically provide a high level of functionality and employ a complicated network of wallet connections, relying mostly on non-custodial wallets, the most popular of which is MetaMask. Cloned and malicious websites are ranked on the first page of search results using black hat SEO and aggressive promotion through paid Google AdWords, resulting in thousands of victims. It’s worth noting that the Guardio claims that these cloned websites, which number in the thousands, are “flying under the radar” and are undetectable by in-built browser protection mechanisms or traditional antivirus software. What is the difference between MetaMask and Metaverse? According to the Guardio research team, attackers have amassed tens of thousands, if not hundreds of thousands, of money from vulnerable victims, significantly hurting the user experience and thereby giving the crypto and metaverse scene a poor rap. Blockchain guarantees complete autonomy and control. These are the guidelines that deployment agents and infrastructure providers follow. For example, the MetaMask non-custodial wallet is simple to use and allows users to store ETH, ERC-20, and other EVM-compatible tokens. Over ten million users are reported to have used the wallet to access multiple NFT, Metaverse, and DeFi portals in Ethereum, the Binance Smart Chain (BSC), Harmony, and other EVM-compatible networks. DeFi, NFT, and the Metaverse have all grown in popularity in recent years, commanding billions of dollars. All DeFi dApps had a total value of nearly $208 billion at the time of writing. NFT trading volumes, on the other hand, rose to much than $5 billion in January 2022 alone, extending their impressive numbers from 2021. The overall amount of NFT trading increased to almost $25 billion last year. Meanwhile, the Metaverse is gaining traction, despite the fact that it has been receiving attention since Q3 2021. The Metaverse, according to predictions, will be revolutionary, completely revamping the internet. Analysts predict that the Metaverse’s value will exceed $1 trillion in the next decade. Emphasis on the Metaverse and Cryptocurrency Users Because most Metaverse, DeFi, and NFT users are tech-savvy and crypto holders, attackers appear to be specifically targeting them. Attackers are cloning and distributing a near-pixel copy of the original site, catching some users off guard. They are aware that users are also on the alert to avoid getting hacked and losing valuable assets. Because blockchain solutions are noncustodial, the controller of the wallet’s private keys must first validate the transaction before it can be irreversibly confirmed on the network. As a result, by publishing a flawless front-end, attackers may concentrate on exploiting end-user approval, which is arguably the only weakness in blockchain metaverse and NFT sites. Hackers have also successfully extracted private keys, which are passphrases required for transaction confirmation, according to Guardio analysts. How to Stay Safe in Crypto Crypto developments such as the Metaverse and NFTs are intriguing, but they are still in their infancy. Attackers are on the hunt, waiting to extort cash and private keys from unsuspecting victims at any time. Due diligence is required to stay safe. As the first line of defense, always use a reliable antivirus product. As a general guideline, never disclose the private keys to your wallet with anyone, no matter how convincing they seem. Users should also double-check that they are accessing the correct website and not a clone with obvious mistakes.
Shiba Inu and Dogecoin will be recognized at AMC Theaters from March 19th
AMC Entertainment Holdings (AMC) is about to put an end to Dogecoin and Shiba Inu lovers’ lengthy wait. From the beginning of the month, fans will be able to pay with the two dog-themed memecoins, according to Adam Aron, CEO of AMC Theatres. As AMC makes an exciting announcement, DOGE and SHIB pump. Aron stated in a tweet that AMC Theatres was ready to take DOGE and SHIB as a result of the company’s BitPay integration. In November of 2021, the announcement was made for the first time. On March 19, BitPay payments will be available on AMC’s website. BitPay will be integrated into AMC’s mobile app by April 16 or a few days before, according to the CEO. The announcement was greeted with applause from both joke coin groups. The move was praised by Billy Markus, a co-founder of Dogecoin. He mentioned that paying with DOGE at AMC Theatres would be entertaining. thank you for the initiative 🙂 will be fun to go to a meme theater paying with meme money — Shibetoshi Nakamoto (@BillyM2k) February 28, 2022 For a long time, the neighborhood has been anticipating the development. In November of last year, AMC began accepting Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). DOGE was already in the works at the time. Following a Twitter survey in which the SHIB community decisively opted for AMC to embrace SHIB, it was added to its plans. DOGE and SHIB prices have also risen as a result of the current announcement. SHIB is currently trading at $ 0.000026, up 8.91 percent on the day. DOGE has likewise increased by 6.62 percent in the previous 24 hours, reaching $$ 0.13. The acceptance of meme coins has been unparalleled. Dogecoin and Shiba Inu are among the cryptocurrencies that are gaining traction in the mainstream. Dogecoin has been rumored to be headed to eBay, according to a report from The Street this week. eBay’s CEO, Jamie Iannone, stated that the integration might be officially announced at the company’s upcoming investor day on March 10. A virtual restaurant with a Dogecoin theme has opened in Dubai. In the previous three months, Newegg, Travala, and CoinGate have all integrated with SHIB.
As expert discovery concludes in the Ripple lawsuit, major crypto exchanges move $88.8 million in XRP.
The expert discovery phase of the SEC vs. Ripple lawsuit has come to an end, showing how the regulator chooses winners and losers among cryptocurrencies. Leading cryptocurrency exchanges moved 120 million XRP tokens, fueling a positive attitude among traders. As huge transactions flood the network, investors are positive about the XRP price. Large cryptocurrency exchanges […]
Cardano’s On-Chain Activity Surpasses Ethereum’s As ETH Struggles to Recover
The attempt by Ethereum bulls to push the altcoin’s price past resistance at $2,839. Algorand is constructing a bridge to Ethereum, which could increase the amount of Ethereum transactions. If Ethereum price remains above its macro low of $2300, the altcoin may return to the area before reversing its trend. The bulls are unable to […]