Crypto Guides, Knowledge & Insights

Report: In October, 73.1% of Web3 games had fewer than 10 active users.

Blockchain analytics platform Footprint Analytics has released a research report indicating a 15.8% growth in the token market value of the Web3 gaming industry in October. The report states that there are 2,651 games available for users to choose from, but 73.1% of these games (1,937) have fewer than 10 active users.　　Among Polygon-based games, there are 38 games with over 1,000 active users, accounting for 8.1% of the total number of games on the Polygon network. On the BNB Chain, games with over 1,000 active users make up 5.4%, and on the Ethereum network, the percentage is 1.7%.　　

2023-11-15Deep Dive

Foresight Ventures Announces Acquisition of Majority Stake in The Block at a Valuation of 70 Million

Foresight Ventures has announced the acquisition of a majority stake in the cryptocurrency media outlet, The Block, in a deal valuing The Block at $70 million. The Block will continue to operate as an independent business and maintain its existing business lines. As part of the acquisition, Forest Bai, CEO of Foresight Ventures, will assume the role of Chairman of the Board at The Block. Additionally, Tony Cheng, a partner at Foresight Ventures, will join The Blocks board of directors. Larry Cermak will continue to serve as CEO of The Block.　　

2023-11-15Deep Dive

Binance Deployer's Wallet Hacked, 27 Million USDT Stolen, Possibly Due to Private Key Leak

Bit Jungle analyzed the reasons behind the recent theft from a cryptocurrency wallet associated with a Binance deployer. According to reports, the wallet was compromised, and the hacker stole 27.07 million USDT and 11 ETH. Subsequently, the hacker conducted cross-chain transfers of most of the funds using platforms like ChangeNow, FixedFloat, SideShift, among others. However, a small portion of the funds was converted into ETH but has not been transferred yet.　　BitcoinTreasuries speculates that the theft may be due to a private key leak, and the private key leak could have been a result of a phishing attack. BitcoinTreasuries states that they will continue to monitor and provide updates on the investigation, including any evidence linking the hacker to other cases that they have identified.　　

2023-11-15Deep Dive

CoinShares Report: Last Week Witnessed a $293 Million Inflow into Digital Asset Investment Products

CoinShares weekly report indicates that the total inflow into digital asset investment products last week was $293 million, bringing the year-to-date inflow to $1.14 billion. Bitcoin ETP (Exchange-Traded Product) trading volume accounted for 19.5% of the total Bitcoin trading volume on trusted exchanges, suggesting that ETP investors were more involved in this uptrend compared to 2020 and 2021.　　The total inflow into Bitcoin last week was $240 million, bringing the year-to-date inflow to $1.08 billion. Ethereum saw its highest inflow since August 2022, reaching $49 million. Solana experienced additional inflows totaling $12 million.　　

2023-11-15Deep Dive

Michael Saylor: BTC to Enter High Growth Phase from 2024 to 2028, Embraced by BigTech and Banks

MicroStrategy co-founder Michael Saylor recently provided a comprehensive outlook on the future trajectory of Bitcoin (BTC) at the 2023 Australian Cryptocurrency Conference. He discussed the BTC halving event scheduled for 2024 and predicted next year to be crucial for BTC. He anticipates it becoming a “mainstream asset in its adolescence” by the end of next year.　　Looking ahead to 2024-2028, Saylor forecasts that BTC will enter a phase of significant growth, expecting wide adoption within major tech industries and large banks. These sectors are projected to integrate BTC into their respective products and services.　　Moreover, he pointed out the potential participation of major financial institutions such as JPMorgan, Morgan Stanley, Goldman Sachs, Bank of America, and Deutsche Bank in activities including lending, offering mortgage loans, customization, and trading of Bitcoin.　　Taking a long-term view of approximately 25 years, Saylor predicts that BTC will dominate among high-quality assets, emphasizing its potential to outperform the S&P 500 index and the growth of diversified investment portfolios.　　

2023-11-13Deep Dive

Gitcoin: GG19 will commence at 12:00 UTC on November 15, 2023

Gitcoins official announcement on X platform reveals the commencement of GG19 on November 15, 2023, at 12:00 UTC, ending on November 29, 2023, at 23:59 UTC.　　The round consists of three project rounds, over nine community rounds, and funding totaling $1.24 million. Applications will remain open throughout the round, but its encouraged to submit applications promptly. Reviews will be conducted on a first-come, first-served basis. The deadline for ensuring early bird review before the round begins is November 8.　　Given that Gitcoin Passport scores reset after 90 days, users are advised to refresh their scores before GG19 begins on November 15. Note: A minimum score of 15 is required to be eligible for matching. The matching capacity increases proportionally when scores are between 15 and 25.　　GG19s planned rounds OSS and Web3 communities will take place on the Public Goods Network.　　

2023-11-13Deep Dive

FTX Bankruptcy Trustee Sues Bybit to Recover $953 Million in Assets

FTXs bankruptcy trustee has filed a lawsuit against the cryptocurrency exchange Bybit Fintech Ltd and its two subsidiaries this Friday in a Delaware court. The suit seeks to recover approximately $953 million in cash and crypto assets that were withdrawn from the platform before FTXs collapse.　　The lawsuit alleges that Mirana Corp., an investment arm under Bybit, possessed special VIP privileges that most FTX customers did not have, utilizing these privileges to move a significant portion of its assets out of FTXs platform during the FTX collapse. While FTX clients were waiting in line for withdrawals, Mirana exerted pressure on FTX employees to meet its withdrawal requests.　　Another subsidiary named in the suit is Time Research Ltd.　　

2023-11-13Deep Dive

DeFi Platform Raft Under $3.3 Million Attack, But Hackers Face Losses

The decentralized finance platform Raft suffered a hack on Friday afternoon, resulting in a loss of approximately $3.3 million worth of Ethereum. However, the attacker might have incurred losses during this theft.　　On-chain data indicates that the attacker siphoned off 1,577 ETH from Raft and subsequently sent 1,570 ETH to a burn address—essentially destroying the majority of the stolen assets, leaving only 7 ETH. Prior to the attack, the hackers address received 18 ETH via the encrypted mixing service Tornado Cash, seemingly to fund transactions.　　After executing transfers and paying blockchain fees, the hackers crypto wallet was left with only 14 ETH, which is less than the initial 18 ETH received.　　

2023-11-13Deep Dive

NEAR Foundation Partners with Eigen Labs to Co-Develop Layer 2 Project EigenLayer

The NEAR Foundation has announced a collaboration with Eigen Labs to facilitate faster and more cost-effective Web3 transactions on Ethereums rollup through EigenLayer. EigenLayer aims to be the worlds first “fast finality layer” for Ethereum Layer 2. The team states that transaction times on this network will be reduced to 3-4 seconds, and the cost of transacting on this layer will be approximately 4,000 times cheaper than the current options.　　

2023-11-13Deep Dive

This Week: CYBER, APE, ROSE, and More Tokens Scheduled for Major Unlocks

Token Unlocks data reveals that this week (November 13th to November 19th), five tokens - CYBER, FLOW, 1INCH, APE, and ROSE - are set to undergo substantial unlocks:　　At 2:14 UTC on November 15th, CyberConnect is scheduled to unlock 1.26 million CYBER tokens (approximately $8.56 million), accounting for 11.43% of the circulating supply.　　At 8:00 UTC on November 16th, Flow will unlock 2.6 million FLOW tokens (about $1.82 million), representing 0.25% of the circulating supply.　　At 20:00 UTC on November 16th, 1inch will unlock 21,430 1INCH tokens (approximately $8,160).　　At 8:00 UTC on November 17th, ApeCoin is set to unlock 15.6 million APE tokens (around $23.56 million), comprising 4.23% of the circulating supply.　　On November 19th at 12:00 UTC, Oasis Network will unlock 196 million ROSE tokens (approximately $14.83 million), representing 3.9% of the circulating supply.　　

2023-11-13Deep Dive

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