Altcoins
Over 540,000 New Crypto Assets Have Been Launched in First Four Months of 2024, According to CoinGecko
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1 month agoon
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adminMore than half a million altcoins have already been created between January and early April this year, according to crypto data aggregator CoinGecko.
Using data from its decentralized exchange (DEX) tracker GeckoTerminal, CoinGecko examined the number of cryptocurrencies from December 31st, 2021 to April 11th, 2024.
The result shows that 2.52 million cryptocurrencies have been launched to date, including transient memecoins and dead projects. The current number of crypto assets is also 5.7 times more than the 440,000 that existed at the end of 2021.
The period between January 1 and April 11th this year saw the rollout of 540,000 new tokens, equivalent to an average of 5,300 new tokens being launched every day in 2024. In comparison, 2022 recorded 720,000 new tokens and 2023, 830,000.
“Given that this is already more than half of the 0.83 million new tokens launched last year, 2024 is on track to surpass 2023 in the number of new tokens on-chain.”
CoinGecko says the memecoin season, which returned in late February this year, led to a record high of 195,735 new tokens launched in March 2024.
“This highlights the frenzy of memecoin activity as opportunistic participants launch derivatives of memecoins or themes that are already popular.
January and February 2024 also saw a large number of new tokens launched in each month, at 134,647 and 195,735 respectively. This perhaps suggests that on-chain speculative activity is on the rise regardless of broader rotations into memecoins.”
CoinGecko says future memecoin seasons may see a greater spike in new crypto assets because of the new tools that make token creation easier and the decreasing cost of on-chain trading.
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Altcoins
Ethereum-Based Altcoin Leads Real-World Assets Sector in Development Activity, According to Santiment
Published
1 week agoon
May 9, 2024By
adminBlockchain analytics platform Santiment says one Ethereum (ETH)-based altcoin project is leading in the real-world asset (RWA) sector based on development activity.
Santiment says that blockchain oracle Chainlink (LINK) is seeing the greatest amount of daily activity on the development hosting platform GitHub.
LINK Is seeing more than two times the amount of development activity compared to the second most active blockchain project, Synthetix (SNX), a decentralized finance (DeFi) crypto that allows synthetic asset creation on Ethereum.
“Here are crypto’s top real-world assets by development. This list is compiled by counting any non-redundant GitHub activity, and averaging this daily activity over the past 30 days. Chainlink currently produces 2.49x more daily activity than the next most active project, Synthetix, in the RWA sector.”
Santiment’s ranking list is as follows: 1. Chainlink 2. Synthetix.io 3. Centrifuge (CFG) 4. Dusk (DUSK) 5. Oraichain (ORAI) 6. Creditcoin (CTC) 7. IX Swap (IXS) 8. Maker (MKR) 9. Polymesh Network (POLYX) 10. Reserve Rights (RSR).
Santiment also says that the native asset of decentralized oracle protocol Tellor (TRB) is outperforming most other digital assets so far this month.
“Tellor is one of the top performing assets thus far in May, exactly doubling in market cap since the calendar month turned. Whale transactions and address activity have both seen sudden spikes, which are suggesting potential TRB profit takes.”
Tellor is trading for $111.64 at time of writing, up 16% in the last 24 hours.
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Altcoins
Hackers With $182,000,000 Stolen From Poloniex Starts Moving Funds to Tornado Cash
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1 week agoon
May 8, 2024By
adminThe hacker who looted the crypto exchange Poloniex has started moving Ethereum (ETH) to the mixing service Tornado Cash, according to the digital asset de-anonymizing platform Arkham.
Arkham notes the hacker moved 1126.1 ETH worth more than $3.4 million into Tornado Cash across a series of 20 transactions on Monday and Tuesday.
They represent the exploiter’s first moves into the controversial Ethereum-based crypto mixer, which helps users conceal their digital assets.
The hacker raided Poloniex in early November, stealing $56 million worth of ETH, $48 million worth of Tron (TRX) and $18 million worth of Bitcoin (BTC), as well as smaller amounts of other crypto assets.
The exchange, which is owned by Tron founder Justin Sun, offered a 5% white hat bounty that went unaccepted. and the hacker still holds $181.47 million worth of crypto in their primary address, according to Arkham.
Justin Sun-affiliated projects have endured a prolific string of attacks in the past several months: In September, hackers exploited the Sun-linked exchange giant HTX for approximately 4,999 Ethereum worth $7.9 million, according to the blockchain security firm PeckShield.
Then in November, hackers hit HTX and Heco Bridge, another Sun-linked project that’s used to move funds between Ethereum and energy-saving blockchain Heco Chain, for a combined $100 million, according to cybersecurity firm Cyvers.
And in January, hackers once again struck HTX, hitting the exchange with a distributed denial of service (DDoS) attack that caused a brief outage.
A DDoS attack is a malicious attempt by bad actors to flood the target website with traffic to overwhelm the site’s infrastructure.
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Altcoins
‘Last Dip Ever’ – Analyst Predicts Solana Rally, Says Three Memecoins Will Surge Alongside SOL
Published
1 week agoon
May 8, 2024By
adminA closely followed crypto trader believes that Solana (SOL) just witnessed its last major correction for this market cycle.
Pseudonymous analyst Inmortal tells his 213,300 followers on the social media platform X that SOL bulls successfully defended support at around $120.
The trader shares a chart suggesting that the blue-chip altcoin is now poised to rally to a fresh 2024 high at $320.
“Last dip ever.
SOL.”
At time of writing, SOL is worth $153.45, suggesting an upside potential of nearly 110% if the altcoin hits the analyst’s target.
Inmortal also predicts that a trio of memecoins will rally alongside Solana. The trader is taking a close watch on Floki (FLOKI), which he says looks bullish after retesting the 200 moving average (MA) on the eight-hour chart and reclaiming support at $0.00015.
Inmortal believes that FLOKI will dip to around $0.00017 before surging to $0.00025 later this month.
“IF SOL goes up, THEN FLOKI, DOGE, PEPE go up too.
Especially interested in FLOKI
> Deviation + Retest + 200 MA
> A bit lagged.”
At time of writing, FLOKI is trading at $0.000179.
Another coin on the trader’s radar is Seedify.Fund (SFUND), an incubator and launchpad specializing in blockchain gaming. According to the analyst, SFUND is currently in the process of cementing the $2.60 level as support.
“Retesting a 578 days accumulation, for the second time.
Definitely, you don’t see this every day.
SFUND.”
Looking at the trader’s chart, he seems to predict that SFUND will rally to $6 in the coming months. At time of writing, SFUND is trading at $2.65.
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