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Market Update:
Market’s have bounced back strongly this week and this is the first time i am seeing green indicators in all of the sectors:-
Ripple Co-Founder Backs Controversial Campaign to Move Bitcoin to Proof of Stake
Environmental activist groups as well as the CEO and co-founder of Ripple have joined forces to campaign for a code change to Bitcoin.
Several environmental groups, including Greenpeace USA, Environmental Working Group, as well as local activist organizations, have formed a consortium to launch a campaign highlighting Bitcoin’s environmental impact.
Per Bloomberg, the initiative, called “Change the Code, Not the Climate,” will see the consortium run advertisements in major media outlets such as the New York Times, Politico, and The Wall Street Journal.
The goal is to persuade the Bitcoin community to modify the network’s existing code and remove its proof-of-work (PoW) consensus algorithm, which requires miners to solve complicated problems to validate transactions and issue new currency, in favor of the less energy-hungry proof-of-stake (PoS) mechanism.
According to Cambridge Bitcoin Electricity Consumption Index, the Bitcoin network uses about 136 terawatt-hours, which is more than Norway or Ukraine.
OpenSea Confirms It Will Start Listing Solana NFTs in April
Collections like Solana Monkey Business, Degenerate Apes, and Aurory appear headed to OpenSea after the firm confirms recent leaks.
Solana NFTs will be added to the OpenSea marketplace in April.
The news follows months of leaks suggesting that support was in the works.
OpenSea revealed the news with a short teaser video posted to its official Twitter account
The Solana NFT space grew rapidly last fall on the back of rising collections like Solana Monkey Business, Degenerate Ape Academy, and Aurory. Solana offers faster, cheaper, and more energy-efficient transactions than Ethereum’s mainnet
Terra's LUNA Sets New All-Time High Following $135 Million Bitcoin Buy
Terra's token LUNA hit an all-time high after the project's founder and CEO confirmed that it had bought over $1 billion in Bitcoin since January.
LUNA, the governance token behind the Terra network, is leading the charge in today's crypto market. It spiked more than 10% earlier today to reach a new record high of $106.14, according to CoinMarketCap.
LUNA's latest price action most likely relates to the news that Luna Foundation Guard (LFG), a Singapore-based non-profit organization supporting the Terra network, recently purchased $135 million worth of Bitcoin to back the UST stablecoin.
Someone Just Sold a Bored Ape Ethereum NFT for Only $115
Did the seller accidentally accept 115 DAI instead of ETH, or is this an exploit or some kind of tax loss harvesting scheme?
A Bored Ape Yacht Club NFT sold for 115 DAI ($115) today, which is a fraction of the current going rate for the collection.
Some believe that the seller thought the offer was in ETH instead of DAI, or that it could be part of a tax evasion scheme.
Hacker Drains $622M From Axie Infinity’s Ronin Ethereum Sidechain
The Ronin bridge was drained of 173,600 ETH and 25.5M USDC via the use of “hacked private keys,” Sky Mavis says.
Ronin, the Ethereum sidechain for NFT game Axie Infinity, has been hit with a sizable exploit.
All told, some $622 million worth of Ethereum and USDC were drained from the bridge that connects Ronin to Ethereum’s mainnet.
Developer Sky Mavis announced the news today, writing that the exploit took place on March 23 but only discovered earlier today. The attacker used “hacked private keys” to execute the exploit, per the team’s report, and thus was able to forge transactions to claim the funds.
All told, the attacker took 173,600 WETH or Wrapped Ethereum (nearly $597 million) and 25.5 million USDC stablecoin ($25.5 million), adding up to about $622 million worth of crypto funds as of this writing. Most of the stolen funds are still sitting in the hacker’s wallet.
YouTube Post of the Week
Patrons are enjoying their ride with ThorChain, however dont forget to convert your Rune into Native Rune if you haven’t already done so.
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