Analysis Crypto by Thebittimes.Com

The latest victim of a cryptocurrency hack has emerged as MyAlgo , an Algorand blockchain wallet. The cryptocurrency space has witnessed some of the largest cryptocurrency hacks in 2022. The year proved to be the biggest in terms of the number of hacks and the losses incurred. The recent attack on MyAlgo was identified by the team, and they sent out a warning to the users. The team also cautioned the users to withdraw all funds from the mnemonic wallet that was stored in MyAlgo. Also read: Crypto and SEC: Here’s How the SEC Brought its Crackdown Game in February 2023 IMPORTANT: ⚠️We strongly advise all users to withdraw any funds from Mnemonic wallets that were stored in MyAlgo . As we still don't know the root cause of recent hacks, we encourage everyone to take precautionary measures to protect their assets. Thank you for your understanding. — MyAlgo (@myalgo_) February 27, 2023 MyAlgo hasn’t been able to identify the root cause The team, however, hasn’t be

SEC v. Ripple is one of the most well-known disputes that has been ongoing for more than two years. The SEC accused Ripple of marketing XRP as a sec urity, numbing XRP’s potential to develop an upward price trajectory over time. John E Deaton , the founder of CryptoLaw.US, has recently taken to Twitter to address the recent statement by Gary Gensler . The main point of the lawsuit is the allegation that XRP is a sec urity. The very statement has been upheld by Gensler, who states that every cryptocurrency, except Bitcoin, is sec urity. Also read: Shiba Inu Burn Rate Spikes by 2300%, 82 Million SHIB Burned Not true. Outside of @GaryGensler’s 🧠 and #BTC Maxis, there’s no consensus everything other than #Bitcoin is a security. There certainly isn’t a consensus w/in the legal community. Software code is NOT a security. It, like any other asset, can be offered and sold as a security. https://t.co/MokmwLr7Ok — John E Deaton (@JohnEDeaton1) February 27, 2023 Pro-Ripple Deaton

U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested outright banning of crypto activities,” Yellen added. Janet Yellen on ‘Strong’ Crypto Regulation U.S. Treasury Secretary Janet Yellen talked about crypto regulation in an interview with Reuters Saturday on the sidelines of the G20 meeting for finance ministers and central bank governors under India’s presidency in Bengaluru. Yellen emphasized the importance of establishing a robust regulatory framework for cryptocurrencies while clarifying that the U.S. has not proposed an outright ban. The treasury secretary said: We haven’t suggested outright banning of crypto activities, but it is critical to put in place a strong regulatory framework … We’re working with other governments. Crypto regulation was among the key topics discussed by the G20 finance ministers and

Join Our Telegram channel to stay up to date on breaking news coverage The daily chart reveals that the Bitcoin price prediction may extend the bearish movement to the areas below the support level of $23,000. Bitcoin Prediction Statistics Data: Bitcoin price now – $23,046 Bitcoin market cap – $444 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $27,000, $28,000, $29,000 Support Levels: $20,000, $19,000, $18,000 BTC/USD falls below $23,000 as the first digital asset embarks on support after the coin failed to hold above the resistance level of $25,000. According to the daily chart, the bearish control is seen across the market as the sellers are making effort to increase the bearish movement. Bitcoin Price Prediction: Bitcoin (BTC) Could Touch $22k Support The Bitcoin price is hovering at $23,046 with an intraday lo

Shiba Inu (SHIB) is on the verge of launching its layer-2 network, Shibarium . And as such, various platforms are lining up to list tokens for projects that are based on the new layer 2. Following the trend, the known South Korea-based cryptocurrency exchange Gate.io has listed PAW, the native token of PawSwap and a central token in the SHIB ecosystem. $PAW (PAWSWAP) now available on @gate_io ! Read more at: https://t.co/bIMFYNIFxL — Pawswap – The Shibarium DEX (@PawShibarium) February 24, 2023 News of the listing has caused the token to surge. At press time, PAW was trading at $0.000000008744, up 137.2% in the last 24 hours. Moreover, the token has rallied by 210.2% on the weekly charts. Source: CoinGecko However, it should be noted that Gate.io’s announcement mentions that PAW is not yet available to U.S. customers. Other countries where the token is unavailable from Gate.io are Canada, Malaysia, Singapore, Mainland China, Malta, Cuba, Iran, North Korea, the Crimea, Sud

Software engineers and members of the development lab Ripplex want to create a cross- chain bridge for the XRPL network to bolster cross- chain transfers between different block chain networks. According to a recent Github draft, the proposal outlines how the cross- chain bridge could function and suggests ways to prevent transaction replay. Ripplex Dev Proposes XRPL Cross-Chain Bridge Technology According to a recent draft submitted to Github, developers want to create a cross- chain bridge for the XRP Ledger (XRPL). The technology would allow cross- chain transfers and provide block chain interoperability between XRPL and various networks. “In this proposal, a cross- chain transfer is not a single transaction,” the GitHub draft details. “It occurs on two chain s, requires multiple transactions, and involves an additional server type called a ‘witness.’” If a cross- chain bridge is implemented for XRPL, the block chain will join numerous networks that leverage this techno

Join Our Telegram channel to stay up to date on breaking news coverage Aptos (APT) was trading at $13.71 after rising 5.13% over the last 24 hours. This follows a series of collaborations by the Aptos Foundation in an attempt to scale the use cases of the Aptos ecosystem in the Web3 space. However, these efforts may not be enough to prevent the APT price from falling further as validated by the technical setup. Aptos Collaborates With Outlier Ventures To Launch The 2023 Move Accelerator Program The Aptos Foundation is sponsoring an in-person accelerator program launched by Outlier Ventures, a renowned Web3 investor.  2/ Innovative minds want to know… what can they expect from the Move Accelerator program? ✅Support and mentorship from @OVioHQ + @aptoslabs ✅Expert, boundary-pushing training in next-gen MOVE use cases ✅Inspiring surroundings while on-site at Aptos HQ in Palo Alto, CA, USA — Aptos (@Aptos_Network) February 22, 2023 The 12-week program is aimed at supporting

Join Our Telegram channel to stay up to date on breaking news coverage Stellar is trading along the resistance level at $0.09 and has retested once. The price of Stellar dipped 4.5% after hitting the resistance level twice. With its new technology that enables anyone to create projects on its blockchain, could Stellar Lumens see a surge in the value of its XML token? Stellar (XLM) Introduces New Project Technology, Will the Price of XLM Hit New Highs Stellar Lumens, a cryptocurrency platform, has recently unveiled a new technology that allows anyone to create projects on its blockchain. This development has generated speculation about the potential impact it could have on the value of its native token, XLM. Stellar Lumens has a new technology to help ANYONE create projects on their blockchain. Will this push the #XLM token ahead as well? Leave a comment #crypto #cryptonews pic.twitter.com/Yf77Y1hb2A — CryptoCoinOpps (@CryptoCoinOpps) February 21, 2023 Stellar offers a fa

Move over Bitcoin [BTC], altcoins have been making quite some noise in the market lately. Small market cap coins in particular have been emerging as the talk of the town. HEX, for instance, was seen growing both in terms of value as well as popularity. It was also noted that these two could be related for this specific cryptocurrency. Crypto social intelligence aggregator, LunarCrush, pointed out how the price change of HEX was linked to its increase in social engagements. According to the platform, time and again HEX has shown a weekly rise of 7% each time its social engagements hit a 3-month high. Currently, the network was heading in the same direction. Well well… Would you look at that! The last 10+ times $ HEX social engagements hit a 3-month high, its price change averaged a weekly return of 7%. # HEX social engagements are climbing upwards, currently at a 3-month high again. Would you take that trade❓ #TradeTheTalk pic.twitter.com/AxnmnynBvZ — LunarCrush (@LunarC

Join Our Telegram channel to stay up to date on breaking news coverage The Securities and Futures Commission (SFC) of Hong Kong is seeking public input on its recently proposed licensing system for cryptocurrency exchanges, which is slated to go into effect in June 2023. Whether to permit regulated exchanges to service retail investors in the nation and what steps should be taken to provide a variety of “strong investor protection measures” are two important issues that need to be addressed during the public consultation session. On February 20, the SFC announced the start of a consultation process defining a new licensing system for the sector that would require all centralized cryptocurrency trading platforms operating in Hong Kong to get a license from the regulatory agency. The Securities and Futures Commission of Hong Kong requests public input on proposals to permit authorized cryptocurrency exchanges to provide services to retail investors The SFC’s proposed regulator

Polygon (MATIC) has proven to be a highlight performer over the past week, and as it flips Dogecoin, it could be aiming to surpass Cardano next. Bitcoins’ rise to surpass $25,000 has impacted the industry as a whole, but no one has seen the gains that MATIC has seen through its 21% rise in seven days. The heights that MATIC has hit in the last week already have it passing the world’s most popular meme coin by market cap. Now, the token is aiming to surpass Cardano (ADA) as it continues its climb. Conversely, only time will tell whether or not the current climb is sustainable. Source – Forbes MATIC Flips DOGE with ADA on the Horizon When the SEC set out on its crusade against the digital asset industry, many thought the worst of the market’s response. Contrarily, there have been positives in terms of the movement of most digital assets, including Bitcoin, which broke through the $25,000 price point. One of the biggest performers alongside the world’s most prominent crypto h

Hackers continue to create fake Web3-enabled websites to fleece unsuspecting victims’ browser-based wallets, with ETHDenver being the latest victim. A fake website of the popular Ethereum Denver conference is the latest phishing target of a red-flagged smart contract that has stolen over $300,000 worth of Ether (ETH). The popular conference saw its website duplicated by hackers this week in order to trick users into connecting their MetaMask wallets. According to Blockfence, which identified the fraudulent website, the smart contract has accessed more than 2,800 wallets and stolen over $300,000 over the past six months. Another day, another scam. This time the scammer targeted the @EthereumDenver website. Blockfence is here to protect you and fight scammers together: The scam contract was marked as "High Risk" by our ML algorithm and our partners at @GoplusSecurity pic.twitter.com/Jdtoz2Bgu4 — Blockfence (@blockfence_io) February 20, 2023 ETHDenver also issued a notice t

The partnership will bring increased liquidity, trading volume, and new trading pairs to the recently launched Proton DEX, solidifying their vision of establishing Proton DEX as the largest decentralized trading engine in the industry. As a company, Metallicus is dedicated to building the world’s most customer-centric digital asset banking network, offering secure, regulated, and sustainable blockchain-based solutions for retail and corporate clients. Their commitment to compliance and regulation, combined with Kairon Labs ’ expertise, makes them the perfect partner for their mission. Kairon Labs, with their extensive network of exchanges, investors, and service providers, has a proven track record of providing world-class liquidity services to digital asset issuers. About Proton DEX Proton DEX is a decentralized exchange that allows users to trade cryptocurrencies without intermediaries. The platform offers an order book, different types of orders, and trading view chart integration.