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bridge hacks

How BTC Whales Big a Big Splash and Move Markets

By Allen Taylor | Cryptocracy | 8 Aug 2022


How bitcoin whales move markets(An awesome read)

Citi says Ethereum Merge could boost Coinbase’s stock price. Meanwhile, the Lightning Network is quietly scaling with new apps. The network currently has over 100 apps in 20 different categories. Good things scale. And when they reach a certain critical point, they begin to scale faster. Lightning Network could be at that critical point.

More XRP holders join hands with Ripple to fight SEC, making the total 70,000 XRP HODLers. Meanwhile, Ripple’s CTO David Schwartz seized an opportunity to jab Stellar Lumens in the rib, courtesy the state of Connecticut. Kudos for creativity.

BNB Chain wins the second quarter.

Celsius decides it doesn’t want its CFO back, after all.

Aave has a proposal on the table to freeze reserves on its Fantom bridge.

Aave

bridge hacks

Opera is deepening its integration with Web3 in Southeast Asia. If Opera were to launch its own token in competition with Brave, I’d give it consideration.

Polygon-based Dragoma appears to have pulled the rug on gamers.

Fairfax County in Virginia invests $70 million into crypto lending.

How to create your first zero-knowledge proof on Bitcoin.

Credit card ban on Pornhub could drive sleaze to Web3 platforms.

New dating app allows romance enthusiasts a way to seek love in the metaverseAm I the only one who thinks virtual reality romance is a bit icky? On the other hand, the virtual reality industry is due a makeover.

Managing director of Cronos says Web3 users will do more than just trade crypto.

Is crypto becoming gender-neutralAs long as it doesn’t become gender-neutered.

There’s always another crypto hack just around the corner.

 

From the Hive

Hive juggernaut @jongolson, aka Jongo!, boasts of Hive Power (HP) over $100,000. He’s aiming for $150,000. There’s more than one way to get that much HP. You can, of course, earn it organically over time. Another way is to buy Hive and power up. I haven’t analyzed the blockchain to see which way Jongo! did it, but the fact that he has an account with that much HP in it and he’s delegating almost half of that to other accounts proves that Hive has something going for it.

Hive Power

Don’t look now, but I’ve made the Actifit top 500 leader board

Actifit leader board

I’ve also been awarded for being a buzzy bee.

Hivebuzz

Crypto in Other Places

 

In Kazakhstan, law officers arrest crime group members believed to be forcing IT professionals to run underground mining operationsThis is interesting. Kazakhstan was one of the beneficiaries of China’s crackdown on crypto mining last year. Many miners flocked to the nation to evade China’s law. What’s not clear about this article is whether these crime syndicates came from China or if they’re homegrown. And why would anyone need to be forced to run a mining operation underground? As far as I know, crypto mining isn’t illegal in Kazakhstan.

Nepal to issue a digital currency.

Snark and commentary in italics. Just what you’ve come to expect from me.

Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice. Do your own research.

Image credits: Bridge hacks, Chainalysis; Aave, Aave; Hive Power account growth, @jongolson at Hive.blog

 

Resources

  1. https://cointelegraph.com/news/how-bitcoin-whales-make-a-splash-in-markets-and-move-prices
  2. https://dailyhodl.com/2022/08/07/banking-titan-citi-says-ethereum-merge-could-boost-crypto-exchange-coinbase-stock-price-report/
  3. https://www.coindesk.com/business/2022/08/07/move-over-ethereum-bitcoins-lightning-network-has-apps-too/
  4. https://thecryptobasic.com/2022/08/08/more-investors-join-deatons-class-action-as-over-70k-xrp-holders-now-stand-with-ripple-against-sec/
  5. https://timestabloid.com/ripple-cto-david-schwartz-takes-a-dig-at-stellar-lumens-to-show-that-xrp-is-bigger-than-xlm/
  6. https://beincrypto.com/bnb-outperforms-other-smart-contract-networks-in-second-quarter/
  7. https://www.cnbc.com/2022/08/07/celsius-withdraws-motion-to-hire-cfo-back-at-92000-a-month.html
  8. https://governance.aave.com/t/arc-aave-v3-fantom-freeze-reserves/9166
  9. https://forkast.news/welcome-web3-bigger-monster-version-2-sibling/
  10. https://www.coindesk.com/business/2022/08/08/polygon-based-web3-game-dragoma-supporters-fall-victim-to-35m-rug-pull-peckshield/
  11. https://bitcoinist.com/virginia-fairfax-county-pours-70-million-into-crypto-lending-as-investment/
  12. https://coingeek.com/create-your-first-zero-knowledge-proof-program-on-bitcoin-a-practical-step-by-step-guide/
  13. https://bravenewcoin.com/insights/pornhub-crypto-news
  14. https://www.forbes.com/sites/davidwestenhaver/2022/08/07/looking-for-love-in-the-metaverse/
  15. https://venturebeat.com/2022/08/07/why-the-lack-of-metaverse-integration-in-todays-vr-ecosystem-needs-to-be-addressed/
  16. https://cryptopotato.com/users-in-web3-will-do-a-lot-more-than-just-trade-crypto-cronos-ken-timsit-interview/
  17. https://timesofindia.indiatimes.com/blogs/voices/an-insight-into-how-the-world-of-cryptocurrency-is-becoming-gender-neutral/
  18. https://techcrunch.com/2022/08/07/theres-always-another-nightmarish-crypto-hack-around-the-corner/
  19. https://hive.blog/hive-119826/@jongolson/myhivegoals-i-love-true-web3
  20. https://wallet.hive.blog/@jongolson/transfers
  21. https://hive.blog/hive-193552/@pjansen/actifit-pjansen-20220807t212905639z
  22. https://news.bitcoin.com/police-in-kazakhstan-arrest-gang-forcing-it-specialists-to-run-crypto-farms/
  23. https://news.bitcoin.com/nepal-prepares-to-issue-digital-currency-drafts-necessary-amendments/
  24. https://cryptocracy.substack.com/p/how-bitcoin-whales-move-the-markets

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Allen Taylor
Allen Taylor Verified Member

Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


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