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Crypto Daily Roundup, 9 Feb: Green Wave Sweeps Crypto Market

09-Feb-2024 By: Lokesh Gupta
Crypto Daily Roundup

Crypto prices have surged during the previous 24 hours

Top 5 Gainers Coins

IndicesLTPChange (%)
Dymension$7.8318.41%
Beam$0.020814.97%
ThorChain$5.2914.17%
Pyth Network$0.545614.17%
Bonk$0.00001148.08%

Crypto News Key Highlights:

  • UK's NFIB blocked 43 fraudulent web domains, including "actionfraud.info" & "department-fraud.com." Victims urged to report cybercrimes. Trezor's breach exposed 66,000 users; phishing emails ensued. MailerLite breach led to Web3 account hijacks, with attackers amassing $3.3M. Stay vigilant with Markets Pro alerts.

  • Pi42 Exchange introduces new trading pairs like DOGE/INR, responding to user demand. With $2M daily volume and 3000+ sign-ups, Pi42 fosters user engagement via referrals. Content creators seize opportunities in INR crypto futures trading education, contributing to Web3 growth.

  • A federal judge grants Ripple's request to delay SEC-related discovery by a week, requiring detailed financial statements and post-complaint XRP sales. Ripple agrees to comply but finds providing three years of XRP sales contracts burdensome.

  • Crypto investors face escalating threats as scammers target popular projects like Dymension (DYM) and OpenSea. In January, phishing attacks surged, causing $55 million in losses. Sophisticated tactics, including impersonating well-known projects, underscore the need for heightened vigilance.

  • Former BitMEX CEO Arthur Hayes advocates for "points" over ICOs and yield farming in crypto fundraising. Points offer guerilla marketing potential, avoiding regulatory hurdles. However, Hayes warns of potential abuse, stressing the need for trust between projects and users to ensure effectiveness.

  • Vast Bank shuts down its crypto app due to challenges, yet Bitcoin remains resilient, decentralized, and impervious to conventional banking woes. Its enduring journey underscores its role as a hedge against inflation and governmental intervention. The closure underscores the importance of self-custody and evolving regulations, shaping finance's future.

  • BlackRock and Fidelity's Bitcoin ETFs had the most successful debut in the ETF market in 30 years, attracting substantial assets in their first month. Bloomberg's Eric Balchunas credits competition for the ETFs' success, with BlackRock and Fidelity ETFs entering the top ten largest American ETFs by asset inflows by January's end.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read- 24 Crypto Update, 08 Feb: Crypto Market Sees Strong Gains

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