• Bitcoin has surged 30% in the past 7 days, reaching a current trading price of $26,600.
• Investors are diversifying portfolios and seeking risk reduction due to the banking crashes.
• Total value locked on Bitcoin has increased significantly, surging to $142.31 million.

Bitcoin’s Strong Surge Amid Market Chaos

Bitcoin has seen a remarkable 30% increase in its value since last Friday’s close, bringing it back to levels last seen in June 2022. This surge has led to the total cryptocurrency market cap surpassing the $1.1 trillion mark and is instilling renewed confidence in investors.

Reasons Behind the Surge

Concerns over liquidity due to banking crashes have prompted investors to diversify their portfolios and seek risk reduction by placing their trust in cryptocurrencies like Bitcoin. As three US-facing crypto banks were liquidated in the span of three days, Bitcoin emerged unscathed and even saw an impressive surge in value.

Total Value Locked on Bitcoin Increases

Data indicates that Bitcoin’s total value locked has increased significantly, reaching $142.31 million – marking a remarkable rise from the $84 million recorded at the beginning of 2021. This suggests that investors are optimistic about its growth potential which is further backed up by Glassnode’s „Recovering from a Bitcoin Bear“ dashboard which shows positive signs for recovery with 8 key indicators monitored for transition from bear market into a period of recovery or new bull cycle..

On-Chain Metrics Suggesting Bull Market

Glassnode’s „Recovering from a Bitcoin Bear“ dashboard shows positive signs for Bitcoin’s recovery as it monitors 8 key indicators suggesting transition from bear market into a period of recovery or new bull cycle.. This is creating optimism among investors as they realize that cryptocurrencies are resilient enough to weather volatile markets and offer protection against traditional financial system inadequacies.

Conclusion

Overall, this week has been one for the history books not just within cryptocurrency world but all markets as well. The strong surge seen by bitcoin amidst chaos proves its ability to remain resilient despite uncertain times and act as an attractive means of reducing risks and diversifying portfolios for investors looking for alternatives outside traditional banking systems

• On March 9th, a flash crash of Huobi’s HT Token caused shockwaves in the crypto space.
• Justin Sun withdrew ~$60 million in Ethereum stablecoins from Huobi around the time of the crash.
• Twitter users are suspicious of the withdrawal and believe it is related to the flash crash.

Huobi’s HT Token Flash Crash

On Thursday, March 9th, a sudden flash crash of Huobi’s HT token sent shockwaves across the crypto space. The native token of the exchange dropped almost 93% of its value in what many saw as an unexpected event.

Justin Sun Withdraws Funds

Around the same time as the collapse, Justin Sun withdrew ~$60 million in Ethereum stablecoins from Huobi to DeFi protocol Aave. On-chain data showed four large transactions amounting near $60 million taking place at this time.

Suspicious Move?

Sun took to Twitter to explain that this was normal practice for fund deployment but many on Crypto Twitter remain skeptical due to his previous controversies such as insider trading with TRX tokens and alleged securities fraud with BTT tokens.

Previous Controversies

Sun has been accused of a number of controversial activities including being tipped off by Binance CEO Changpeng Zhao about a Chinese ICO ban and having his team buying up TRX tokens to pump up prices. He has dismissed all these allegations in regards to his own conduct but people still view him with suspicion when it comes to events like this latest one involving funds being withdrawn from Huobi at an interesting time.

Conclusion

It remains unclear whether or not there were any dubious intentions or if this was just bad timing for Justin Sun’s withdrawal from Huobi amidst their HT Token flash crash, however he will remain a controversial figure until further evidence proves otherwise.

• NFT Wash Trading is a form of market manipulation which involves a single trader buying and selling the same token on an exchange.
• This type of trading is often done to create misleading market data and inflate trading volumes.
• There are several benefits to wash trading, including receiving incentives and rewards from platforms and brokerages.

What Is NFT Wash Trading?

NFT Wash Trading is a form of market manipulation which involves a single trader buying and selling the same token on an exchange. This type of trading is often done to create misleading market data and inflate trading volumes. It isn’t exclusive to NFTs but can also be seen in traditional assets such as stocks.

Why Does Crypto And NFT Wash Trading Happen?

Despite being morally questionable, there are some benefits that come with wash trading. For example, traders can receive greater rewards from platforms by inflating their figures through this practice. Moreover, token airdrops are another popular way blockchain protocols attract users by incentivizing them with free tokens or other rewards for participating in certain activities like wash trades.

Are There Risks To NFT Wash Trading?

Wash trading has become increasingly scrutinized by regulators due to its deceptive nature, as it distorts real-time price movements across markets. Therefore, it’s important for traders to be aware of the potential risks associated with such practices when seeking out incentives or rewards from platforms or exchanges. Furthermore, they should also be aware that if caught engaging in wash trades they could face consequences such as fines or even criminal charges depending on the severity of their actions and the jurisdiction in which they operate under.

How Can Traders Tell If An Exchange Is Engaging In Wash Trades?

Fortunately, there are some ways traders can tell if an exchange is engaging in wash trades or not. By looking at an exchange’s order book one can spot out suspicious activity such as orders that have been placed too close together (as well as other signs). Additionally, using blockchain analysis tools like Chainalysis can help identify cases where wallets have made numerous self-financed transactions indicating possible wash trade activities taking place on the platform/exchange in question.

Conclusion

                                                                                                                                                                           
 In conclusion, while NFT wash trading may offer short term gains it carries significant risks and should only be used cautiously after careful consideration has been taken into account regarding potential consequences resulting from engaging in this type of activity (such as fines or legal action). It’s important for traders to know how to detect whether an exchange is engaging in these practices before deciding whether it’s worth pursuing further or not

• Ripple XRP is a cryptocurrency that was designed by Ripple and has been around since long before Ethereum.
• The XRP Ledger is Ripple’s open-source blockchain, which powers its global payment network.
• Ripple aims to provide fast and efficient cross-border payments with minimal fees for banks and large financial institutions.

What Is Ripple XRP?

Ripple (formerly known as Ripple Labs) is a for-profit fintech company building products and services that use blockchain technology. Its native digital currency is XRP, which powers its decentralized public blockchain, the XRP Ledger.

What Problem Does Ripple XRP Solve?

International payments can take days to process and incur high transfer fees when made in fiat currencies. The Ripple protocol attempts to solve this problem by providing quick and cost-efficient international payments at scale for banks and financial institutions.

Advantages of Using XRP

XRP transactions are faster than other cryptocurrencies, with transactions settling within 3-5 seconds compared to 10 minutes or more on Bitcoin’s network. It also uses far less energy than other networks, making it more environmentally friendly than many of its competitors.

Disadvantages of Using XRP

Ripple has faced criticism from the crypto community due to its centralized nature compared to other networks such as Bitcoin or Ethereum. In addition, some have argued that newer networks offer better scalability than the aging XRP Ledger platform.

Conclusion

Ripple’s long history in the industry combined with its real-world integration makes it a top cryptocurrency by market cap despite recent criticism over scalability issues and centralization concerns. Ultimately whether you consider it an industry leader or a cryptocurrency dinosaur will depend on your own opinion – but one thing is certain: there’s no denying the impact that this OG crypto has had on the world of finance!

• The Klaytn Foundation has announced changes to the governance system and tokenomics model of its native KLAY tokens.
• These changes are aimed at increasing decentralization and sustainability of the blockchain, as well as community involvement in the Klaytn Network.
• The price of KLAY has jumped by 49.3% in the past week, trading at $0.3024 for the first time since October 2022.

Klaytn Changes Tokenomics and Governance Models

The Klaytn Foundation is making changes to its network’s governance system and tokenomics model in order to increase decentralization, sustainability and community involvement on the Klaytn blockchain. These changes come as part of Klaytn’s Decentralization Phase of its Governance Roadmap, which will also introduce a communication channel for community members to engage in decision-making processes.

Price Increase for KLAY Tokens

As a result of these developments, KLAY tokens have seen a significant positive impact on their prices. In just one week, KLAY has gained 49.3% in value, trading at $0.3024 for the first time since October 2022. As of now, 1 KLAY trades hands at $0.2901 with a total market cap of $884 million USD ranking it 59th among all cryptocurrencies worldwide according to CoinMarketCap data from February 20th 2021 UTC-8PM GMT +1:00BST (London).

Klaytn Governance Council Proposal

The new governance system is being proposed by the Klaytn Governance Council (GC), who are collaborating with the Klaytn Foundation on detailed plans regarding how uncirculated (reserve) KLAY tokens should be handled under this revised tokenomics model. This proposal will be presented to GC members from February 22nd through February 28th for voting purposes before it is officially implemented into the network’s mainnet codebase later this year or early next year if approved by GC voters.

Permissionless Validator Structure

With these changes also comes a fully permissionless validator structure that allows anyone from around world to participate in open block validation on the Klaytn platform without needing any special permission from developers or administrators from within or outside the foundation itself . The goal here is to make sure that everyone can have an equal chance at participating in maintaining and developing this blockchain ecosystem regardless of where they live geographically or what their technical capabilities may be like currently .

Roadmap For 2023 To Be Released On Feb 27th

On February 27th , The Klaytn Foundation will release its roadmap for 2023 that includes further details regarding future updates , upcoming projects , partnerships , technology advancements , etc related to this blockchain platform . This plan could potentially provide more insight into how these latest changes may affect other aspects of decentralized finance within South Korea’s largest Layer-1 public chain going forward .

• Shiba Inu’s (SHIB) lead developer Shytoshi Kusama officially distanced himself from the new copycat token Paw (PAW).
• The $PAW token has been deemed a pump-and-dump scheme by many members of the SHIB community.
• Shytoshi Kusama also shared a crypto donation link to support those affected by the recent earthquake in Turkey and Syria.

Shiba Inu’s (SHIB) Main Developer Clears Up New Token Rumors

False Endorsement of Unrelated Token

Shiba Inu’s lead developer Shytoshi Kusama officially distanced himself from the new copycat token Paw (PAW), developed by a member of the SHIB Defence Breed. On top of that, the $PAW token has already been deemed a pump-and-dump scheme by a large chunk of the Shiba Inu community on both Twitter and Discord. Hence, Kusama ended his tweet with a cautionary message: „Be careful #Shibarmy, many wolves in Shib’s clothing.“ Additionally, there was false endorsement of an unrelated token as part of Shiba Inu’s Ecosystem.

Crypto Donation Details for Turkey and Syria

Previously, Kusama sent a warm and comforting message to people affected by an enormous earthquake in Turkey and Syria. As the Kahramanmaras earthquake counts over 35,000 victims already, people need medical aid, food, and emergency accommodation. Although none of the whales answered his initial call for help, he recently shared a donation link that supports BEP20, Avalanche, and ERC-20 transfers on Ethereum’s network suitable for SHIB transfers.

Delayed Release Of ‘Shibarium’ Layer-2 Solution

The highly anticipated Layer-2 solution for Shiba Inu was expected to be released today on Valentine’s Day but hasn’t come yet. This hasn’t stopped some community members from wondering if it was just another rumor or not. Nevertheless this shouldn’t overshadow today’s celebration of love and romance as SHIB Sunshine noted with her heartfelt message to one of crypto’s largest communities: „Patience is key.“

Conclusion

In conclusion despite all these events taking place within the Shiba Inu space its main developer has taken steps to ensure that its ecosystem is not corrupted by any malicious activities or false information meant to sway public opinion away from their original mission statement — “to create an environment where everyone can benefit financially through cryptocurrency investments“.

DeFi Hack on CoW Swap

• A hacker exploited a smart contract in the „solvers competition“ of CoW Swap and stole over $180,000 worth of crypto.
• The exploit did not affect the users or protocol funds as the solver’s bond would pay for all damage.
• The hacker exploited an external solver to drain the settlement contract which held seven days‘ worth of protocol fees.

Overview

CoW Swap, a decentralized exchange (DEX), has become the latest victim of a DeFi exploit after a hacker managed to steal over $180,000 worth of crypto. Despite the exploit, neither the protocol nor its users suffered any losses as the solver’s bond is set to pay for all damages incurred during the attack.

Exploit Details

The exploit was first spotted by MevRefund and confirmed by CoW Swap’s team. According to Nansen, blockchain analytical firm, the exploiter consolidated their stolen funds into two wallets containing $123,000 DAI, $50,000 BNB and $7,400 ETH. The attack happened through an external solver which entered CoW Swap’s “solver competition” 10 days prior to exploit. The hacker then tricked the DEX GPv2Settlement contract to approve SwapGuard for DAI spending and triggered it to transfer from said contract.

Protocol Security Measures

Despite losing over $180K in crypto assets as a result of this attack, CoW Swap maintained that none of its user funds were affected due to their policy of never holding user funds on-platform. Additionally, they stated that no funds were stolen from their protocol either due to the fact that their solver’s bond will be paying for all damages done during this attack.

Conclusion

This recent attack on CoW Swap serves as yet another reminder about why proper security measures are essential when dealing with cryptocurrencies and other digital assets – even when using trusted exchanges such as DEXs like CoWSwap. As long as protocols remain vigilant with their security procedures and investors take extra precaution when handling digital assets, DeFi hacks can still be avoided in future operations.

• Damus, a decentralized social networking platform powered by Nostr, has been launched on the Apple App Store.
• Nostr markets Damus as the „social network you control“ and plans to build it into a platform with uncensored content.
• Damus allows for censorship-resistant and permissionless communications, as well as built-in payments through the Bitcoin Layer-2 Lightning Network.

On February 1, 2023, a milestone was achieved for decentralized protocols as Nostr launched its most popular mobile app Damus on the Apple App Store. Damus, a decentralized social networking platform powered by Nostr, promises to replace centrally-controlled social networks, and has the support of Jack Dorsey, the co-founder of Twitter. Dorsey tweeted his excitement at the news, celebrating the launch of Damus on the App Store.

Nostr markets Damus as the „social network you control,“ and are determined to build it into a social media platform with uncensored content. To accomplish this, Damus allows for censorship-resistant and permissionless communications. This is achieved through cryptographic keypairs, with users sending private encrypted messages with the destination user’s public key, that are decrypted only by the private key corresponding to that public key. Damus also utilizes decentralized relays to distribute messages sent on the platform.

In addition to its censorship-resistant qualities, Damus also has built-in payments through the Bitcoin Layer-2 Lightning Network. This allows users to send payments to other users without relying on centralized payment processors. The launch of Damus therefore adds to the competition that Twitter is facing, as it recently announced the launch of its own payment system, which could include cryptocurrency.

The launch of Damus on the Apple App Store marks a significant milestone for decentralized social media networks, and provides users with a platform that they can control. With its censorship-resistant communications and its built-in payments, Damus promises to be a powerful alternative to centrally-controlled social networks.

• The inaugural Crypties Awards gala was held in December 2022 in Miami at Art Basel and sponsored by multiple crypto projects.
• Katrina Wolfe accepted the Cryptie for Crypto Unicorns from presenter Avery Akkineni of Vayner3.
• Onstage panels and interviews from conferences and summits included Kathleen Breitman of Tezos discussing proof-of-stake, Clay Robbins of Slow Ventures, Soona Amhaz of Volt Capital, Sarah Guo of Conviction and Alex Strzesniewski of AngelBlock discussing raising money during Crypto Winter.

In December of 2022, Decrypt Studios held the inaugural Crypties Awards gala in Miami at Art Basel. The evening was hosted by Josh Ostrovsky („The Fat Jewish“) and sponsored by multiple crypto projects such as Polygon, Filecoin Foundation, Lamina1, Async, BeetsDAO, The Gold Mask, Gem Set, Breakout, Anonymous, Infinite Objects, Ape Water, Decentralized Pictures, and Vault 721.

Katrina Wolfe accepted the Cryptie for Crypto Unicorns from presenter Avery Akkineni of Vayner3. The other nominees in the category were Stepn, Zed Run, and Blankos Block Party.

The Crypties Awards weren’t the only events of the night. Onstage panels and interviews from conferences and summits were also held. Kathleen Breitman, co-founder of Tezos, spoke about how the Tezos blockchain has used a proof-of-stake mechanism since the beginning, her admiration for Tendermint, Ethereum and sharding, progressive decentralization, and NFT gaming with Decrypt’s Stephen Graves.

Clay Robbins of Slow Ventures, Soona Amhaz of Volt Capital, Sarah Guo of Conviction and formerly Greylock, and Alex Strzesniewski of AngelBlock joined Decrypt’s Jason Nelson at 0xpo Summit in San Francisco on November 3 for an extensive panel on raising venture money even during Crypto Winter.

The night was filled with excitement and praise for the crypto industry. It was a moment to celebrate the projects and people in the space who have worked tirelessly to make it what it is today. It was a night to remember and an opportunity for the crypto community to come together and recognize the progress and advancements being made.

• Lisa Rubin, a blockchain attorney with Paul Hastings, sat down with Decrypt’s Jason Nelson at 0xpo Crossroads in San Francisco to discuss legal misconceptions the industry still holds.
• The Crypties 2022 awards gala was held in December 2022 at Art Basel in Miami.
• Kathleen Breitman, co-founder of Tezos, talked about the Tezos blockchain, Ethereum, and NFT gaming onstage at Web Summit in Lisbon. Clay Robbins of Slow Ventures, Soona Amhaz of Volt Capital, Sarah Guo of Conviction and formerly Greylock, and Alex Strzesniewski of AngelBlock joined Decrypt’s Jason Nelson at 0xpo Summit in San Francisco for a panel on raising venture money even during Crypto Winter.

At 0xpo Crossroads in San Francisco, Decrypt’s Jason Nelson interviewed Lisa Rubin, a blockchain attorney with Paul Hastings, on legal misconceptions the industry still holds. Lisa discussed how companies need to seek legal advice before launch and provided insights into the legal landscape of the industry.

The Crypties 2022 awards gala was held in December 2022 at Art Basel in Miami. Emceed by Josh Ostrovsky („The Fat Jewish“) and with presenters from a range of crypto projects, statuettes were awarded in nine categories. The evening was sponsored by Polygon, Filecoin Foundation, Lamina1, Async, BeetsDAO, The Gold Mask, Gem Set, Breakout, Anonymous, Infinite Objects, Ape Water, Decentralized Pictures, and Vault 721.

Kathleen Breitman, co-founder of Tezos, talked about the Tezos blockchain’s proof-of-stake mechanism, her admiration for Tendermint, Ethereum and sharding, progressive decentralization, and NFT gaming onstage at Web Summit in Lisbon. Clay Robbins of Slow Ventures, Soona Amhaz of Volt Capital, Sarah Guo of Conviction and formerly Greylock, and Alex Strzesniewski of AngelBlock joined Decrypt’s Jason Nelson at 0xpo Summit in San Francisco for an extensive panel on raising venture money even during Crypto Winter. The panel discussed the challenges of raising money in a bear market and provided tips and tricks on how to succeed.

Overall, it was an inspiring day of thought-provoking conversations and educational panels on the legal and financial aspects of the crypto industry. It is clear that the industry has come a long way in the last few years, and the future looks very promising.