[PRESS RELEASE – Tortola, British Virgin Island, October 25th, 2024]
Aark Digital recently experienced a security incident in which an unauthorized party accessed and withdrew approximately 1,386,085 USDC and 24.143 ETH. In response, the project has launched 24/7 recovery efforts, while also implementing additional security measures to safeguard against any further unauthorized activity.
As part of its recovery strategy, Aark Digital is offering a 15% bounty to the individual responsible, contingent upon the safe and complete return of the misappropriated assets. This bounty, amounting to 225,000 USDC, is intended to incentivize the return of the funds, and additional details are available on Arkham’s bounty platform here.
Should a full recovery not occur, Aark Digitial has indicated that it will announce a distribution plan to address the situation appropriately. The organization has set a deadline of 26th October 2024, 15:00 UTC, for the responsible party to respond, stating that it is prepared to pursue legal measures if the funds are not returned within this timeframe.
Aark Digital is committed to keeping its community informed throughout this process, emphasizing its dedication to transparency and user security.
Aark Digital will continue to release updates on the situation as they become available.
About Aark Digital
Aark Digital is a blockchain-focused project dedicated to providing secure, innovative solutions within the digital asset space. Committed to transparency and user security, Aark Digital leverages cutting-edge technology and industry best practices to safeguard assets and build trust within its community. Aark Digital aims to advance the growth and adoption of decentralized finance worldwide.
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The meme coin MEW tapped a new peak after rallying by another 8% in the past 24 hours.
While some predict further growth, others warn of a potential pullback due to rising FOMO.
The Bull Run Goes on
The Solana-based meme coin Cat in a Dogs World (MEW) has been one of crypto’s rock stars lately, with its price pumping by 85% on a two-week scale.
MEW Price, Source: CoinGecko
Several hours ago, it hit a new all-time high of over $0.01, while its market capitalization exceeded the psychological level of $1 billion. This positioned MEW as the 82nd-biggest cryptocurrency and the eighth-largest in the meme coin realm.
The asset started the month on the right foot, seeing a gradual price increase until October 21. After that, things went to another dimension, with MEW charting double-digit daily gains and climbing the crypto ladder. One evident reason fueling the rally was Upbit’s decision to allow trading services with the meme coin. As CryptoPotato reported, the biggest Korean cryptocurrency exchange listed the MEW/KRW trading pair.
It is worth mentioning that MEW is not the only cat-themed token that is well in the green today (October 25). Some of the other top performers include Purr (PURR), Wen (WEN), MANEKI (MANEKI), and more. On the other hand, Popcat (POPCAT) – the leading cat-related meme coin – is down 10% for the past 24 hours.
MEW Price Predictions
Multiple market observers believe the meme coin’s uptick is nowhere near its end. Crypto General (an X user with more than 200,000 followers) noted its “consistent uptrend,” suggesting more room for growth. The analyst envisioned “a parabolic move” to as high as $0.045 in the following days.
However, some forecasted a potential correction. Crypto_Jobs is among the pessimists, suggesting that the rising FOMO (Fear of Missing Out) could negatively affect MEW’s valuation in the short term.
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Popular crypto YouTube channel MemeFi Club just dropped a big prediction about Crypto All-Stars – saying it could land a Binance listing soon.
The project’s staking protocol and rising presale hype have caught the channel’s attention during its latest meme coin market breakdown.
So let’s take a look at Crypto All-Stars and what all the hype is about.
MemeFi Club Thinks STARS Token Could Obtain Binance Listing Soon
With over 3.8 million subscribers, MemeFi Club has become one of crypto YouTube’s biggest names.
The channel, which started as the official content hub for the Web3 fighting game MemeFi, now moves markets with its token outlooks.
Its latest bombshell is a deep dive into Crypto All-Stars.
The video, “Crypto All-Stars & Binance: The Next Big Meme Coin to Stake?,” has racked up 712,000 views in 11 days.
It discussed Crypto All-Stars’ growing market presence and drew parallels to NEIRO – another meme coin that landed a Binance listing.
However, it’s not just this potential listing that MemeFi Club is excited about.
They also seem interested in Crypto All-Stars’ MemeVault staking platform, which sets it apart from typical meme coins.
Such an endorsement from a channel like MemeFi Club is huge.
Given that Crypto All-Stars is still in its presale phase, the interest this video has generated could create even more momentum for the project’s planned DEX launch.
The MemeVault – Where Meme Coins Become Yield-Bearing Assets
Let’s take a closer look at Crypto All-Stars’ MemeVault platform.
Think of it like a rewards hub where investors can stake popular meme coins like DOGE, PEPE, and FLOKI to earn STARS tokens.
For example, someone holding 100,000 PEPE could stake those tokens in the MemeVault, rather than just holding them in their crypto wallet.
This would turn PEPE into a yield-bearing asset.
Built on the ERC-1155 standard, the MemeVault’s main aim is to unite the meme coin landscape into one ecosystem.
The project’s tokenomics structure backs up this goal.
A 25% chunk of the STARS supply has been set aside for staking rewards, with another 25% reserved for development in the “War Chest.”
The presale allocation sits at 20%, marketing takes another 20%, and 10% is set aside for liquidity.
These allocations suggest the team is focused on sustainability.
By encouraging users to stake multiple meme coins in the MemeVault, Crypto All-Stars is betting that interconnectedness will set it apart from the thousands of useless meme coins that launch monthly.
STARS Presale Catches Fire & Raises $2.7M Ahead of DEX Listing
The buzz around Crypto All-Stars has translated to presale momentum.
With $2.7 million raised so far, investors seem eager to grab STARS tokens at the current price of $0.0015248.
The project is keeping things accessible, too – accepting both crypto and card payments.
Looking ahead, the roadmap is packed with potential catalysts.
Token claiming and a DEX listing is expected to happen just after the presale wraps up, which could create huge initial trading volume.
And with MemeFi Club’s recent coverage putting eyes on the project, that Binance listing speculation isn’t likely to die down anytime soon.
The team also plans to roll out the full version of the MemeVault.
Crypto All-Stars’ Telegram channel members are already excited about this upcoming milestone.
Ultimately, as with any presale project – especially one in the meme coin niche – nothing is guaranteed.
But given Crypto All-Stars’ enormous early momentum, it’s one to watch as we enter the final part of 2024.
Visit Crypto All-Stars Presale
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This week, we examine Ethereum, Ripple, Solana, Dogecoin, and Binance Coin in greater detail.
Ethereum (ETH)
Ethereum closed the week in red, and its price fell by 6%. This comes after buyers failed to move it above $2,800 on Monday. Since then, sellers have taken the initiative and dominated.
The current downtrend is quite steep and may see the price revisit the support at $2,400. This is where buyers managed to reverse the price action in the past. Until then, the momentum remains bearish, at least on lower timeframes.
Looking ahead, Ethereum appears to lag the most compared to other market leaders. Both Bitcoin and Solana, for example, have done much better this week, with SOL, in particular, booking an 11% price increase. This begs the question of why ETH continues to underperform.
Chart by TradingView
Ripple (XRP)
XRP could not hold above 54 cents, and the price fell, closing the week with a 5% loss. If buyers don’t show up soon, this cryptocurrency may go to the next key support level at 48 cents. The previous level at 54 cents is now acting as resistance.
The biggest problem for XRP is the lack of volume, which has been declining since its local high in March 2024. This made any attempt at a breakout weak. Sellers were also quick to capitalize on this weakness and take over the price action every time buyers pushed XRP above 60 cents.
Looking ahead, the bias is somewhat bearish after this recent breakdown. If buyers manage to stop this downtrend at 48 cents, then XRP could return on an uptrend to face the resistance at 54 cents.
Chart by TradingView
Solana (SOL)
Solana had a fantastic week and closed with an 11% price increase. This is in sharp contrast to ETH or XRP, which struggled. The price also broke above $164, putting it in an uptrend with clear bullish momentum that may intensify based on its increasing volume.
As the price moves higher, attention to Solana is only increasing. The current target and most important level on the chart is the level at $200 which was not revisited since March 2024. If the price manages to return there, then that will be considered a sign of strength and embolden bulls.
Looking ahead, Solana broke a key level as it moved above $164. As long as the price does not fall under it, buyers have the upper hand as they eye the next key target at $200.
Chart by TradingView
Dogecoin (DOGE)
Despite the recent pullback, DOGE closed the week with a 2% price increase. This comes after it managed to move above 14 cents. This level is currently being disputed as a key support, and if it holds, this meme coin will maintain its bullish momentum.
Should the 14 cents level hold, then the way is open for DOGE to continue higher towards 18 cents first and later to the key resistance at 20 cents, which will likely put a fight as sellers returned there the last time it was visited in March.
Looking ahead, Dogecoin turned bullish after it managed to break away from its downtrend that started in April. With clear higher lows and higher highs, this meme coin is well-positioned to continue higher and challenge the key resistance levels ahead.
Chart by TradingView
Binance Coin (BNB)
BNB is still looking for a clear trend since its price action has been ranging in the past few months without a significant breakout. The price closed the week with a 2% loss but managed to stay close to $600, which is a key resistance level.
Without clear momentum, Binance Coin shows indecision and has failed to make new highs since its June ATH. To resume its uptrend, the price has to break above $600 and hold above it. So far, sellers have not allowed it to do so.
Looking ahead, the price still struggles to find its direction. Until a clear trend is formed, do not expect any major moves from this cryptocurrency. However, this also offers a good opportunity to accumulate BNB if you are bullish on it later.
Chart by TradingView
The post Crypto Price Analysis October-25: ETH, XRP, SOL, DOGE, and BNB appeared first on CryptoPotato.
[PRESS RELEASE – Zug, Switzerland, October 24th, 2024]
Leveraging Impossible Cloud’s web2 expertise with 1,000+ enterprise clients, Impossible Cloud Network (ICN) positions itself as the leading DePIN project globally, with its testnet facilitating the onboarding of network validators ahead of the node sale
ICN is aiming to address large-scale demand with its open multi-service cloud platform
Today, Impossible Cloud Network (ICN), the first web3-based cloud platform with mass adoption from business customers, announced the launch of its incentivized testnet. Blockchain developers, enthusiasts, and community members are invited to participate and contribute to the future of decentralized cloud networks. The testnet, serving as the entry point for next year’s mainnet release, provides a hands-on environment for users to explore new features, contribute to platform development, and receive recognition for their participation.
The decentralized cloud platform represents a tremendous opportunity. With Impossible Cloud GmbH as the first service provider, which serves over 1,000 enterprise clients, ICN is well-positioned to leverage its web2 expertise to deliver scalable, multi-service solutions that enhance decentralization, offer more flexibility than traditional systems, and provide a seamless fiat on-ramp into web3. By integrating web3 capabilities, ICN eliminates vendor lock-in and promotes a community-driven approach to managing cloud infrastructure.
“Our testnet is designed to onboard a strong community that will help us build the next cloud leader, with a focus on driving enterprise adoption of web3,” said Kai Wawrzinek, co-founder of ICN. “By working with real clients on real projects and generating real revenue, we’re laying the foundation for something bigger – not tomorrow, but today. The mainnet is our ultimate goal, and the testnet is a step toward realizing our vision of becoming a decentralized alternative to AWS.”
ICN’s testnet is designed to achieve two primary objectives: first, to test and refine the platform for stability and functionality such as continuous SLA validation; and second, to deepen community engagement, ensuring that the platform is optimized to meet real-world needs. The testnet simulates real-world conditions and serves as a catalyst to onboard more validators, ensuring a seamless transition to mainnet. It provides participants with a risk-free environment to contribute to performance and scalability improvements while receiving recognition.
ICN will use a FairDrop mechanism, distributing points based on genuine contributions like bug reports, feature testing, and community engagement. The top 20,000 contributors will be eligible for rewards from a pool of 10.5 million ICNT tokens, representing 1.5% of the initial total supply. As the testnet progresses, new challenges and tasks will be introduced, offering ongoing opportunities to participate, receive recognition, and influence ICN’s development.
Backed by investors like 1kx, HV Capital, and Protocol Labs, Impossible Cloud has raised a total of $18 million to date, with its most recent round closing in March last year. The company’s roadmap includes node sale to further decentralize the network followed by ICN’s introduction of the native token to enable decentralized governance.
For more details, visit ICN’s website:
About Impossible Cloud Network
Impossible Cloud Network (ICN) is the first web3-based cloud platform with mass adoption from business customers. Leveraging web3 technologies, ICN delivers up to 10% faster performance than other decentralized solutions, offering an enterprise-grade alternative to traditional cloud providers. Founded by a team that previously scaled Goodgame Studios into a billion-dollar enterprise, ICN provides services such as cloud storage and GPU computing by connecting hardware providers, service users, and monitoring nodes. By leveraging service-level agreement (SLA) oracles, ICN ensures high performance and reliability. Impossible Cloud has raised $18 million from 1kx, Protocol Labs, HV Capital, TS Ventures, and Very Early Ventures.
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[PRESS RELEASE – Vilnius, Lithuanian, October 24th, 2024]
BingX, a global leading cryptocurrency exchange, has fully restored its operational capacity following a recent hot wallet incident, with all deposits and withdrawals back to normal. In response to the event, BingX is unveiling its new “ShieldX” initiative, a comprehensive plan aimed at enhancing the platform’s security infrastructure.
“ShieldX” introduces an upgraded wallet firewall designed to provide advanced protection against external threats, further safeguarding user assets. BingX has also partnered with leading third-party security firms to implement extra round-the-clock monitoring and threat detection, ensuring any vulnerabilities are identified and addressed swiftly and proactively.
In addition to enhanced firewalls and partnerships, BingX will undergo regular, rigorous security audits conducted by independent security agencies. The exchange is also rolling out a new hacker bounty program, offering rewards to security researchers who help identify potential vulnerabilities, reinforcing its dedication to continuous improvement.
Utilizing its new cybersecurity initiative, BingX is reaffirming its position as a leader in the cryptocurrency space by putting user safety at the forefront. This initiative not only enhances security but also emphasizes the exchange’s long-term commitment to transparency, resilience, and innovation in the face of evolving cybersecurity challenges.
Vivien Lin, Chief Product Officer at BingX, emphasized the importance of the platform’s swift recovery and ongoing commitment to user security. “We are pleased to confirm our platform has not only returned to standard operations but the platform has also been thoroughly enhanced to a higher performance level than before the incident. BingX’s quick response highlights our dedication to safeguarding user assets, with trust, efficiency, and transparency at the heart of our approach. The launch of ‘ShieldX’ marks a crucial step in proactively strengthening our platform’s defenses,” Lin said. “Our priority remains ensuring a secure environment for all users through continuous improvements and strategic partnerships. Furthermore, we are committed to collaborating with industry leaders to drive higher security standards across the crypto ecosystem.”
About BingX
Founded in 2018, BingX is a leading cryptocurrency exchange serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC’s principal partner, marking an exciting debut in the world of sports.
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Uniswap Labs, the company behind the leading decentralized exchange Uniswap, has announced the integration of a cross-chain swap bridge created by Across, a full stack for everything cross-chain.
According to a press release shared with CryptoPotato, the upcoming integration will enable users of the Uniswap Wallet and Uniswap Web App to swap ether (ETH), Wrapped Bitcoin (WBTC), and stablecoins like Tether (USDT), USD Coin (USDC), and Dai (DAI) across nine Ethereum Virtual Machine (EVM)-compatible chains, including Optimism, Arbitrum, Polygon, and Base.
Uniswap to Integrate Across’ Cross-Chain Bridge
Uniswap’s new feature will be powered by Across’ intent-based bridging solution, which allows users to specify their desired action in a single transaction request. It removes the complexities of cross-chain transactions by allowing Across to automatically bridge the assets and interact with smart contracts “under the hood.” This approach to cross-chain bridging removes the risk from the end user and makes such transactions friendly.
Hayden Adams, CEO of Uniswap Labs, said:
“While we’ve benefited from Ethereum’s scaling improvements, the progress has also led to some fragmentation. This collaboration builds on our shared vision of setting new standards and creating an ideal user experience for cross-chain swaps.”
Across’ intent-based bridging technology is also powered by the ERC-7683 token standard introduced earlier this year by the crypto entity and Uniswap Labs to enhance cross-chain interoperability. The token standard unifies cross-chain intents and allows a universal filler network to process transactions. It enables developers to tap into the entire EVM ecosystem while focusing on one chain, eradicating the need for multiple layer-2 deployments.
While ERC-7683 is still in its early stages, the token standard has gained recognition from the Ethereum founder Vitalik Buterin.
Laying the Groundwork for Asset-to-Asset Swaps
Uniswap said it is integrating Across’s bridging solution to lay the groundwork for swapping between any crypto assets.
Across’ co-founder and CEO Hart Lambur insisted that intents-powered solutions are the only products that give users a two-second experience between layer-2 networks. They have an average three-second time for transactions less than $10,000, representing roughly 99% of all layer-2 bridging activity.
“It can finally make the experience of using hundreds of L2s feel like one unified ecosystem. I envision a future where seamless, 1-click cross-chain transactions become the standard,” Lambur added.
Meanwhile, Uniswap recently unveiled its layer-2 network Unichain, built on the OP Stack as part of the Superchain. Across will become the chain’s bridge when the mainnet goes live.
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[PRESS RELEASE – Dubai, United Arab Emirates, October 23rd, 2024]
Avenix Fzco, a fintech company based in Dubai, UAE, has recently unveiled Forexigo, an automated trading system designed for the forex market. This forex robot specifically targets trading in Gold (XAUUSD) and the British Pound/US Dollar (GBPUSD) currency pair.
Technical Features
Forexigo operates on the MetaTrader 4 (MT4) platform, utilizing a 30-minute (M30) timeframe for both Gold and GBPUSD markets. The system employs a set of algorithms to analyze market conditions and execute trades based on specific criteria.
The forex robot’s market analysis capabilities include trend identification through price action and moving averages. It also incorporates oscillator checks to assess market conditions before entering trades. Forexigo recognizes bullish and bearish engulfing candlestick patterns as part of its trade entry strategy.
To reduce the occurrence of false signals, the system filters out certain candle formations. This approach aims to focus on specific market setups that align with its trading parameters.
Trade Execution and Risk Management
Forexigo’s trade execution process involves a series of checks before opening a position. The system initiates buy trades upon identifying bullish engulfing patterns, while bearish engulfing patterns trigger sell trades.
Risk management features are integrated into Forexigo’s design. Each trade is automatically assigned a stop loss to limit potential losses. The take profit levels differ between assets, with Gold trades using a higher ratio than GBPUSD trades.
The forex robot also imposes limits on open positions. It allows a specified number of open positions for Gold trading and a different number for GBPUSD trading. Additionally, Forexigo implements global stop levels as an extra measure to protect trading capital from unexpected market fluctuations.
Optimization and Development
Avenix Fzco reports that Forexigo has undergone optimization using historical tick data dating back to 2016. The company collaborated with Thinkberry SRL, which provided the Tick Data Suite used in the optimization process.
The forex robot’s programming enables users to switch between trading Gold and GBPUSD. This feature allows for adaptation to different market conditions or alignment with individual trading preferences.
User Support and Documentation
According to Avenix Fzco, Forexigo comes with documentation to assist users in understanding and implementing the forex robot. The company states that customer support is available to address inquiries and concerns related to the software.
Market Context
Forexigo enters a market where various algorithmic trading solutions exist. Its focus on Gold and GBPUSD trading represents a specific approach within the broader automated forex trading software landscape.
About Avenix Fzco
Avenix Fzco is a fintech firm based in Dubai, UAE, specializing in the development of forex trading software. The company focuses on creating automated trading solutions compatible with the MetaTrader 4 platform. Avenix Fzco’s approach involves integrating market analysis capabilities and risk management features into their forex robots. The firm aims to provide tools that can adapt to changing market conditions and incorporate recent developments in trading technology. Forex enthusiasts interested in exploring automated trading solutions may visit the Avenix Fzco website to learn more about Forexigo and test the software for themselves.
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The TON ecosystem, initially celebrated for its decentralized architecture and seamless integration with Telegram, is now facing significant challenges from an uptick in fraudulent activities. According to a newly published report by Match Systems, scams targeting TON users have escalated in frequency and sophistication, raising concerns across the broader blockchain community.
Match Systems’ comprehensive research highlights how cybercriminals are exploiting vulnerabilities within the TON network’s open structure. With heightened security measures on Ethereum, many scammers have shifted focus to TON, leveraging its weaker security protocols. Fraudulent schemes such as fake airdrops, phishing campaigns, and wallet drainers have surged, leading to substantial financial losses. In the first half of 2024 alone, reported fraud incidents within the TON ecosystem rose by 45%, with over $10 million stolen through fraudulent airdrop schemes.
Key factors contributing to these scams include security gaps in mini-apps and the exploitation of decentralized exchanges and mixers to launder stolen assets. The decentralized nature of the ecosystem has made it difficult to track and recover stolen funds, intensifying concerns about user safety. Despite the rapid growth of the TON ecosystem, its security infrastructure has struggled to keep pace, leaving users increasingly vulnerable to attacks.
Match Systems’ report provides a detailed analysis of the risks associated with TON and offers a practical checklist to help users avoid falling victim to scams. The report is available for download on the company’s website.
About Match Systems
Match Systems is a leading provider of anti-money laundering (AML) services, blockchain investigations, and compliance solutions for cryptocurrency projects worldwide. The company leverages cutting-edge technology and deep expertise in financial crime prevention to assist organizations in navigating regulatory challenges and minimizing the risks associated with digital assets.
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One viral meme coin surged substantially after Binance launched perpetual contracts for it.
The exchange has been expanding meme coin services, recently listing Baby Doge Coin, Turbo, and Neiro.
A Double-Digit Spike
Meme coins are known for their enhanced volatility, recording substantial swings in both directions following important developments. The latest example solidifying that thesis is the price explosion of Simon’s Cat (CAT).
The meme coin, inspired by the eponymous animated series and launched on the Binance Smart Chain, witnessed a 65% rally on the daily, while its market capitalization neared $250 million.
CAT Price, Source: CoinGecko
The surge was fueled by Binance’s decision to launch 1000CATUSDT perpetual contracts on its futures program. The offering went live on October 21 and allows up to 75x leverage. It supports the multi-assets mode, enabling users to trade the contract across numerous margin assets.
“For example, when the Multi-Assets Mode is activated, users can use BTC as margin when trading the aforementioned perpetual contract,” the company explained.
Perpetual contracts allow traders to speculate on the price movements of a token without actually owning it. They don’t have an expiration date and could be held indefinitely. While such contracts offer opportunities for significant rewards, the high leverage and constant exposure to liquidation make them inherently risky, especially for inexperienced traders.
Binance and Meme Coins
The world’s biggest crypto exchange has been quite open to the meme coin sector lately, adding various services involving such assets.
Most recently, it expanded the list of options offered on Binance Spot by including trading bot services for PEPE/FDUSD. The firm initially embraced the frog-themed coin in May last year.
Last month, Binance listed three additional meme coins on its platform: Baby Doge Coin (BABYDOGE), Turbo (TURBO), and Neiro (NEIRO). Their prices skyrocketed shortly after the disclosure. NEIRO’s spike was the most substantial, with its valuation exploding by 500% on a 24-hour scale.
It is worth mentioning that Binance added the meme coins with seed tags. Tokens in that section represent “innovative projects that may exhibit higher volatility and risks” than other listed assets. The exchange cautioned users to conduct proper due diligence before entering the ecosystem.
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