NFTs: where people pay big bucks to own a piece of digital art that anyone can still view for free. It's like buying the Mona Lisa, but everyone can still visit the Louvre and take a selfie with it. Maybe I should start selling virtual air. #NFT#CryptoArt#VirtualWealth
So apparently, people are paying millions for digital art? I'm still trying to figure out how I can sell my 10-year-old MS Paint masterpiece for a couple of Ethereum. Who knew pixelated stick figures could be the next big thing? #NFT#DigitalArt#CryptoCraze
Near tokens are like those elusive items at the grocery store. You can see them, you know they exist, but they always manage to slip through your fingers at the last moment. It's like a game of hide and seek with your cryptocurrency – and the tokens are definitely winning. #NearTokens#CryptoGames
Why invest in real coins when you can invest in shitcoins and literally watch your money go down the drain? It's like flushing your cash down the toilet, but with the added thrill of hoping it miraculously turns into gold. 💩💰 #ShitcoinInvestor#MoneyFlushingExpert
I used to buy Shiba Inu tokens just for fun, but now I can't tell if I'm investing in a cryptocurrency or adopting a new pet. I mean, who wouldn't want a digital Shiba Inu that might make you rich? It's like playing the lottery, but with memes and virtual doggies!
DeFi: When you're too broke for the bank to notice you, so you decide to make some magic on the blockchain instead. It's like playing Monopoly, but with real money, and the risk of accidentally sending it into the void. Welcome to the wild world of decentralized finance, where the rollercoaster never stops! 🎢
I invested in Binance tokens and now I can't decide if I'm a financial guru or just a reckless gambler hoping for the best. My friends think I'm a genius, my mom thinks I'm insane, and the Binance website keeps giving me heart palpitations. Who knew digital money could be such a rollercoaster?
Can we take a moment to appreciate how Web3 is like the rebellious teenager of the internet? It's all like, "Hey, I don't need no centralized authority telling me what to do!" And we're just over here like parents, trying to figure out our new role in this wild digital revolution. #Web3Adventures
If Solana tokens were a person, they'd be the one who shows up early for everything – always speedy, never wanting to miss out on the action. They're like the friend who's already at the party when you're still debating whether to go or not. Solana tokens: the eager beaver of the crypto world!
If Ripple (XRP) tokens were a person, they'd be the smooth-talking, flashy dressers of the crypto world. It's like they waltz into the party, start the dance floor on fire, and then disappear just as quickly. The party's always wild when they show up, but where do they vanish to next?
In a brazen cyber heist, the peer-to-peer trading platform NFT Trader fell victim to a sophisticated hack. It resulted in the theft of millions of dollars worth of high-value Non-Fungible Tokens (NFTs).
Among the stolen digital assets were rare tokens from prominent collections like Bored Ape and Mutant Ape Yacht Club, World of Women NFTs, VeeFriends, and Art Blocks.
Many others believe that bitcoin is a risk hedge asset. Venture capitalist Tim Draper previously explained that he is bullish about bitcoin because “it’s a great hedge against inflation.” Famed hedge fund manager Paul Tudor Jones has said several times that bitcoin is his preferred inflation hedge over gold.
Blackrock CEO Larry Fink detailed in July that bitcoin can hedge against inflation and “the onerous problems of any one country, or the devaluation of your currency, whatever country you are in.” Blackrock, the world’s largest asset manager, is currently seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch a spot bitcoin exchange-traded fund (ETF).
"Top tier" NFTs stolen in NFT Trader hack
Attackers exploited old smart contracts from the NFT Trader peer-to-peer NFT trading application to steal pricey NFTs, including at least 37 Bored Apes, 13 Mutant Apes, and NFTs from the VeeFriends and World of Women collections. Some ETH and APE tokens were also stolen. Altogether, the stolen NFTs are priced at around $3 million, though the hacker may not be able to liquidate them for that ammount.
One attacker claimed in on-chain messages that the original attack had been perpetrated by someone else, but that they were one of the many copycat attackers, describing themselves as someone who had "[come] here to pick up residual garbage". They requested victims send additional ETH to get their NFTs back. "If you want the monkey nft back, then you need to pay me a bouty, which is what I deserve", they wrote, asking for NFT holders to send them 10% of the Ape floor price — itself likely an additional scam, although that attacker did return some NFTs and some ETH.
Blackrock Holds Another Meeting With SEC
The expectation of the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin exchange-traded funds (ETFs) has intensified this week as several spot bitcoin ETF issuers engage in discussions with the securities regulator regarding their applications. Notably, Blackrock, the world’s largest asset manager, has held its fourth recent meeting with the SEC concerning its spot bitcoin ETF proposal.
According to a meeting memorandum dated Dec. 14, filed with the SEC, staff from the Office of the Chair met with three individuals from Blackrock. The memorandum details: “The discussion concerned the Nasdaq Stock Market LLC’s proposed rule change to list and trade shares of the Ishares Bitcoin Trust under the Nasdaq Rule 5711(d).” Once approved, Blackrock’s spot bitcoin ETF will trade under ticker IBTC.
Bitcoin Once Again Outperforms Ethereum in Thriving NFT Market
The total NFT sales this week, amounting to $503.35 million, saw Bitcoin accounting for more than half of this figure, with its $276.79 million representing 54.98% of the week’s total. This period also marked a significant rise in market activity, with a 199.44% increase in buyers and a 193.20% surge in sellers of NFTs, according to cryptoslam,io stats.
Bitcoin’s performance in NFT sales was notably strong, with a 122.16% increase compared to the previous week, amounting to $276.79 million. Ethereum, while still significant in the market, saw a modest week-over-week growth of just 0.93%, totaling $99.67 million.
Bitcoin’s Total Hashrate Regains Upward Momentum Alongside Hash Price Rise
Barring any major shifts in the coming week, Bitcoin’s difficulty is poised for an upswing. Projections based on current data suggest an increase ranging from 1.64% to 4.5% on Dec. 23. According to data from Luxor’s hashrateindex,com, the hashrate is currently coasting along at 487 EH/s following a temporary dip last week. Presently, block generation times are fluctuating between 8 minutes and 6.6 seconds to 9 minutes and 35 seconds.
As the cryptocurrency market enters a new bull run, identifying altcoins with the potential to skyrocket in value is more crucial than ever. With memecoins like BONK surging nearly 1,300% over the past month, the fear of missing out (FOMO) is gripping investors.
In this climate, a well-considered checklist is essential for discerning which altcoins might yield substantial returns.
Safemoon US Files Chapter 7; SFM Token Plummets
On December 14, 2023, Safemoon US, LLC, the entity behind the safemoon/com website, lodged a Chapter 7 bankruptcy petition in Utah. This type of bankruptcy, often referred to as “liquidation,” necessitates selling the debtor’s nonexempt assets to settle debts with creditors.
For a business such as Safemoon, Chapter 7 bankruptcy signifies halting all operations, while a court-appointed trustee manages the sale of the company’s assets to repay creditors. The bankruptcy submission, authorized by the chief restructuring officer, reveals that Safemoon possesses assets valued between $10 and $50 million, against liabilities ranging from $100K to $500K.
he world’s largest stablecoin issuer has frozen 326 wallets containing $435 million worth of Tether (USDT) for the U.S. authorities, the company highlighted in a letter on Dec. 15. The assets were frozen to assist law enforcement authorities, including the U.S. Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service.
The letter, addressed to Senator Cynthia M. Lummis and Congressman J. French Hill, followed another letter to the politicians on Nov. 16. Both letters were sent in response to Lummis and Hill’s letter to Attorney General Merrick Garland on Oct. 26, which outlined their concerns about the use of stablecoins for illicit activities, such as money laundering and terrorist financing
Skyrocketing Bitcoin Fees Surpass $40
Bitcoin transaction fees are climbing and at the time of writing, a high-priority transaction tapped $40 just before 2 p.m. on Saturday, Dec. 16. Miners have been raking in the fees and an example of this is the fact that block height 821,485 came with 7.314 BTC in fees, which is over the size of the 6.25 BTC block subsidy. Presently, the hash price per petahash per second (PH/s) is coasting along at $108 per PH/s per day.
The recent spike in Bitcoin’s transaction fees to $40 each significantly surpasses the previous 2023 record of $31 per transfer set on May 8. Data from mempool space reveals that for high-priority transactions, individuals are spending 674 satoshis per virtual byte (sat/vB), while for lower-priority ones, the cost is around 602 sat/vB or $35.78, as observed on Saturday afternoon.