ETH drops over 17% after the Merge, experts in a worry
At the time the Merge happened ETH was traded at ~ $1,600. At the time of writing, it’s priced at ~ $1,320. The whales took advantage of the Merge and sold $1.5 billion worth of crypto. Just a few days after Ethereum shifted to PoS, an unknown user transferred $358 million worth of ETH to an exchange.
Experts say the situation may be critical, as ETH might drop to $1000.
Cardano hard fork is now live
Vasil is expected to enhance performance and throughput and help create blocks faster. Thus, it will increase efficiency and transaction speed. Also, dApps are anticipated to run cheaper.
According to developers, the Cardano technology enables the transition without the system being interrupted or restarted.
OpenSea launches OpenRarity & adds support for Arbitrum
OpenRarity is a protocol helping users to find rare items on the marketplace. To create a ranking, it uses a math approach. More rare tokens will be ranked 1 or 2, while those similar to others will get higher numbers. However, creators will be able to choose whether they want their collections to be ranked.
Also, the marketplace has introduced Arbitrum. Now it supports four networks: Ethereum, Polygon, Solana, and Arbitrum.
Opera to integrate Elrond
The browser users will access Elrond ecosystem dApps and use the in-built Opera wallet to receive and send EGLD, an Elrond token. The full implementation is scheduled for the end of the year.
Earlier, Opera began supporting Bitcoin, Celo, IXO, Nervos, Polygon, Ronin, Solana, and StarkEx.
The US plans to ban algorithmic stablecoins for two years
The new regulation draft is about to prohibit coins like TerraUSD (UST) for 2 years. The watchdogs plan to study such tokens while existing providers will have time to collateralize their tokens in a different way. The vote on the draft is expected next week.
Binance’s new Global Advisory Board to regulate crypto?
The newly formed committee will cooperate with authorities to ensure “responsible regulation” for the crypto space. The list of its members includes officials and business representatives from the US, Nigeria, South Korea, France, South Africa, Brazil, the UK, Germany, and other countries.
Zilliqa to launch a Web3 gaming console
It’s anticipated to have a built-in wallet and mining features. Developers say playing-to-earn will be easy, without any crypto-related complexities.
The launch is set for next year. Two games by Zilliqa are coming first, followed by games from other creators.
Fraudsters never sleep: TikTok, Revolut, and bridge hacks
- Crypto scammers move to TikTok. According to BBB research, the most popular videos feature people with a large amount of cash offering “easy ways” to make money on crypto.
- Revolut users’ data exposed after a hack. The issue might have affected over 50,000 people. The company says hackers accessed the data of only 0.16% of its users for a short time.
- Ethereum-Arbitrum bridge vulnerability detected. It might have caused over $200 million in losses.