Features News Daily TheBitTimes.com

The Terra block chain experienced a significant disruption on July 31, 2024, as operations were halted to address a major security exploit. The block chain was paused at block height 11430400, and transactions have been suspended until further notice. According to an official update from Terra, the halt was necessary for validators to implement an emergency patch to rectify a suspected exploit affecting the network. Attention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time. We will be working with the validators on Terra (phoenix-1) to apply an emergency patch thereafter to remediate a… — Terra Powered by LUNA (@terra_money) July 31, 2024 Details of the Exploit The exploit, identified as a reentrancy attack, resulted in substantial financial losses. Security firm Beosin reported that the breach led to the theft of approximately $4 million worth of tok...

Best Wallet ($BEST), a leading Web3 wallet, has launched its exciting airdrop campaign, offering participants the opportunity to earn its powerful $BEST token through fun and simple quests. The $BEST token is packed with a multitude of benefits. By holding $BEST tokens in Best Wallet, users will enjoy exclusive benefits such as significantly reduced transaction fees, exclusive access to partner presales, higher staking rewards, and governance rights over its growing ecosystem, which includes the Best Wallet, Best DEX, and the upcoming Best Card. Starting the quests is quick and completely free. Register on the Best Wallet website for the airdrop campaign and begin completing quests to earn points redeemable for $BEST tokens. This engaging and rewarding experience for early participants begins today with the launch of the airdrop campaign. Don’t miss out – the more points you collect now, the bigger your $BEST holdings will be! Complete...

US Senator Cynthia Lummis proposed new legislation to partly fund a US strategic Bitcoin reserve at the recent Bitcoin Conference in Nashville. The office of Senator Lummis today shared a draft of the legislation, revealing that the reserve would be funded partly by revealing the Federal Reserve’s Gold stash. According to the draft, the plan proposes establishing a “Bitcoin Purchase Program” of up to 200,000 BTC a year over five years. The “Bitcoin Act of 2024,” would “establish a decentralized network of secure Bitcoin storage facilities distributed across the U.S.” It would select the locations for the vaults “based on a comprehensive risk assessment, prioritizing geographic diversity, security, and accessibility.” The plan does come with sacrifice, as the draft legislation reveals. It calls for setting aside $6 billion from any net earnings remitted by the Federal Reserve to the Treasury from fiscal years 2025 through 2029. Furth...

If you thought 2024 has been a big year for Bitcoin, just wait to see what’s in store for 2025. The spate of development within the Bitcoin ecosystem has been dizzying as new L2s and tooling spring up to extend Bitcoin’s capabilities and unlock new use cases. This trend was clear to see at Bitcoin 2024 in Nashville last week where a host of major announcements shed light on where the world’s leading cryptocurrency network is headed next. One of the highlights in a conference packed with highlights was exSat’s announcement about the state of play with its testnet. Expectations for the Bitcoin scaling L2 are riding high and there’s been a broad swelling of support for the nascent infra layer. The launch of the exSat testnet was announced at Bitcoin 2024 including details of the blockchain infrastructure giants that are already onboard and diversifying its validator set. exSat Docking Layer Achieves Lift-Off exSat is building a docking layer for scaling Bitcoin. It ta...

Poodlana’s presale surges to $3.5M, with price set to rise further. Bitcoin hits $69,000, boosted by Trump’s pro-crypto remarks. BOOK OF MEME rises 20%, with strong technical patterns and market interest. As August approaches, the cryptocurrency market continues to evolve with exciting developments and noteworthy trends. Three cryptocurrencies stand out for their potential to capture significant attention and drive market momentum: Poodlana (POODL), Bitcoin (BTC), and BOOK OF MEME (BOME). Each of these assets is making waves in its own way, whether through innovative presales, significant price rallies, or emerging market trends. Here’s why Poodlana, Bitcoin, and BOOK OF MEME (BOME) are the ones to watch as we move deeper into August. 1. Poodlana: a new Solana meme coin making waves in presale Poodlana (POODL) is quickly gaining traction in the crypto space, particularly within the meme coin sector. Launched on July 17, 2024, Poodlana...

In what some have branded a ‘ governance attack ,’ controversial Proposal 289 passed a Compound Finance DAO vote yesterday, with a margin of 52% to 48%. The proposal grants 499,000 COMP tokens, worth $25 million at the time, to be sent to a goldCOMP vault created by a group known as the ‘Golden Boys.’ The price of COMP has dropped over 6% in the past 24 hours, according to data from CoinMarketCap. Potential governance attack on Compound seems to have passed.https://t.co/Uz2rteKvi6 — Michael Bentley (@euler_mab) July 28, 2024 Read more: Compound Finance and Celer Network websites compromised in ‘front-end’ attacks Compound is one of the longest-established lending platforms in the decentralized finance (DeFi) sector. Any decision about the running of the protocol must be made via on-chain governance, with votes being cast by owners of COMP tokens proportional to their holdings. While the proposal purports to be “an exciting new strategy designed to provide COMP hold...

As we kick off the week, the total crypto market stands at an impressive $2.42 trillion. Bitcoin, priced at $67,710, has seen a slight dip of -1.63% in the past 24 hours, which has brought its market cap down to $1.33 trillion, with a dominance of 55.08%. However, this minor decrease hasn’t dampened market spirits. In fact, the Fear & Greed Index is still showing a healthy reading of 71, indicating a bullish sentiment. Moreover, with trading volume hitting $384.79 billion, it’s clear that the excitement in the crypto space remains strong.   Biggest Crypto Gainers Today – Top List Interestingly, 21% of cryptocurrencies gained value, while 79% lost value in the last 24 hours. For instance, FTX Token (FTT) emerged as the biggest gainer, surging 8.22% and showcasing strong investor confidence. Conversely, Blox experienced the most significant drop, with a 6.14% decrease. Amid this varied performance, four standout top gainers caught the eye. Firstly, PlatON su...

Solana (SOL) is currently among the standout cryptocurrencies, record ing significant buy pressure as the token seeks to breach new highs. Notably, the recent buying pressure has elevated Solana to the fourth-highest crypto by market capitalization, surpassing Binance Coin (BNB). As of this writing, SOL had a market cap of $87.05 billion, flipping BNB, which had a capitalization of $86.22 billion. At the moment, Solana is targeting the $200 mark after clearing the $180 resistance zone. By press time, SOL was trading at $186 with daily gains of over 2%. The recent bullish momentum is visible in the weekly timeframe, with Solana up by over 10%. Picks for you 3 cryptocurrencies to avoid trading this week amid $190 million in unlocks 1 hour ago ...

A widely followed crypto analyst says that Bitcoin (BTC) could have further upside after rebounding off a major support zone. In a new strategy session, crypto trader Rekt Capital tells his 483,300 followers on the social media platform X that the crypto king could shoot up past $71,000 over the Labor Day weekend. “Bitcoin successfully dipped into $65,000 and rebounded. Now let’s see if Bitcoin now rallies to $71,500. Bitcoin has an entire long weekend to do it.” Source: Rekt Capital/X According to the trader, since BTC held $65,000 as its support zone, it will continue to stay in a price range of between $65,000 and $71,000 in the short term. “The retest was successful. Bitcoin has confirmed $65,000 as support. Price will now continue to occupy the $65,000-$71,500 region (red).” Source: Rekt Capital/X Rekt Capital goes on to note that the top crypto asset by market cap is less than halfway done with its current bull cycle and his...

 NFTs in Gaming: How They Represent In-Game Assets and Ownership! The gaming industry has always been at the forefront of technological innovation, constantly evolving to provide players with immersive experiences and new ways to engage with digital worlds. One of the most transformative advancements in recent years has been the integration of Non-Fungible Tokens (NFTs) into gaming. These unique digital assets have the potential to revolutionize the way in-game assets and ownership are perceived, offering gamers unprecedented control and value. What Are NFTs? Non-fungible tokens, or NFTs, are digital assets that represent ownership of a unique item or piece of content on the blockchain. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are unique and cannot be replaced with something identical. Each NFT contains distinct information that makes it one-of-a-kind. NFTs in Gaming: A Perfect Match The concept of NFTs fit...

Cardano is undergoing one of the most significant phases of its history as of yet. The token is in the queue, waiting to embrace the much-anticipated Chang Hard Fork upgrade. Post-fork update, ADA will embrace increased community participation, which in turn can have a significant impact on its price. Also Read: Ripple: XRP Surges, Beats Bitcoin, Ethereum, And SOL On Major Exchanges Chang Hard Fork Status Update The Chang Hard Fork is one of the most widely anticipated developments that the Cardano ecosystem is currently waiting for. The ADA community is passionately awaiting the fork deployment so that it can explore a plethora of new ecosystem activities that the update ushers in soon. In this wake, a notable crypto platform, Cardano DApp Analyst, took to X to share an update concerning the Chang Hard Fork. The platform shared how the Chang Hard Fork node 9.0.0 is currently at 33%. The fork needs to complete the remaining 70% to initiate the fork on the chain. The platform later po...

Leveraging DeFi for Green Energy Projects in Developing Countries! In recent years, the intersection of decentralized finance (DeFi) and green energy has emerged as a transformative force for sustainable development in developing countries. This synergy offers innovative solutions to long-standing challenges, such as energy access, funding, and scalability of renewable energy projects. By leveraging DeFi, we can create a more inclusive and efficient financial ecosystem that supports the growth of green energy initiatives. The Role of DeFi in Green Energy DeFi, a blockchain-based financial system, eliminates the need for intermediaries, providing more accessible, transparent, and secure financial services. This technology can revolutionize the funding and implementation of green energy projects in several ways: 1. Crowdfunding and Tokenization DeFi platforms enable the tokenization of renewable energy assets, allowing individuals and institutions to invest in projects through fractional...