Solana Saga, NFT Trader Hack, OKX NFT Marketplace, and Tap Protocol: Crypto News Roundup 18 December

5uhB...Zmmt

18 Dec 2023

280

The crypto world is buzzing with exciting news and developments, from the launch of a premium smartphone for web3 enthusiasts to the recovery of stolen NFTs worth millions of dollars. Here are some of the highlights from the past week that you don’t want to miss.

Solana Saga Phone Sells for Up to $5K on eBay

The Solana Saga phone, a flagship Android device with features for the future of web3, has been selling like hotcakes on eBay, with some buyers paying as much as $5,000 for the phone. The phone, which is powered by the Solana blockchain and comes with a built-in wallet and dApp store, was originally priced at $1,000 and sold out within hours of its launch on Dec. 15.
One of the reasons for the high demand is the generous airdrop of 30 million Bonk tokens, a Solana-based memecoin, that comes with every phone purchase. Bonk, which claims to be the first dog coin for the people, by the people, has seen its price skyrocket by over 2,000% in a week, making the airdrop worth more than the phone itself. Some lucky buyers have already received their Bonk tokens, while others are still waiting for their phones to arrive.

NFT Trader Hacker Returns Stolen NFTs After Receiving Bounty

The hacker who stole nearly $3 million worth of NFTs from the peer-to-peer trading platform NFT Trader has returned most of the loot after receiving a bounty of 120 ETH (around $450,000) from the platform. The hacker had exploited a vulnerability in the platform’s smart contract and transferred 36 Bored Ape Yacht Club (BAYC) and 18 Mutant Ape Yacht Club (MAYC) NFTs to their own wallet on Dec. 16.

The platform quickly notified the community and offered a bounty for the return of the NFTs, which are among the most popular and valuable collections in the NFT space. The hacker agreed to the deal and sent back the NFTs on Dec. 17, keeping only two MAYC NFTs as a souvenir. The platform has since patched the vulnerability and resumed its service.

OKX NFT Marketplace Surpasses Blur, OpenSea in Trading Volume

The OKX NFT Marketplace, a comprehensive multichain open NFT marketplace, has surpassed Blur and OpenSea in daily trading volume, thanks to the frenzy around Bitcoin Ordinals, a new NFT project that leverages the Ordinals system to create unique art pieces based on Bitcoin transactions. According to data from Nansen, the OKX NFT Marketplace recorded a 24-hour trading volume of $50.33 million on Dec. 17, while Blur came in second with $13.21 million, followed by Magic Eden’s $7.63 million, UniSat’s $3.82 million, and OpenSea’s $3.25 million.

The OKX NFT Marketplace, which supports 11+ blockchain networks and aggregates NFT collections from other major marketplaces, is the only platform that enables trading of BTC Ordinals NFTs, which have been selling for up to $100,000 each. The project, which was launched on Dec. 15, has already generated over $40 million in sales and attracted over 10,000 buyers.

Tap Protocol Raises $4.2 Million to Develop on Bitcoin

Trac Systems, the parent company of Tap Protocol, has raised $4.2 million in a fundraising round led by Sora Ventures, to develop Bitcoin’s capabilities as a developer platform through the Ordinals system. The Ordinals system is a protocol that enhances OrdFi functionality, enabling the secure locking of value on Bitcoin. The system allows users to create and trade NFTs, tokens, and other digital assets on Bitcoin, without relying on third-party platforms or intermediaries.

Tap Protocol, which is built on top of the Ordinals system, has been used to develop several applications on Bitcoin, such as fractionalisation of Ordinals art, token functions for gaming, and DeFi solutions. The project aims to bring more innovation and adoption to the Bitcoin ecosystem, by leveraging its security, decentralisation, and scalability.

Conclusion

These are some of the most exciting and noteworthy news and developments from the crypto world in the past week. Whether you are interested in web3, NFTs, or Bitcoin, there is something for everyone to explore and enjoy. Stay tuned for more updates and insights from the crypto space.

Disclaimer: The information and content provided in this article are for informational and educational purposes only and do not constitute any financial, investment, or legal advice. Trading, buying, or investing in cryptocurrencies involves significant risks and may result in the loss of your capital. You should do your own research and consult a professional before making any decisions. This article is not a suggestion or an endorsement of any cryptocurrency or platform.

I hope you enjoyed this edition of the crypto news roundup, and that you learned something new and useful. If you did, please share this article with your friends and family, and subscribe to me for more updates and insights. Thank you for reading, and happy crypto!