Crypto Prices Today: Bitcoin At 51K, Ethereum Above $3,100 As Solana & PEPE Rebound

7Ary...USep

26 Feb 2024

As per the latest report in the town, MicroStrategy, the world’s largest corporate holder of Bitcoin (BTC), faced a major phishing attack on its Twitter account. Reportedly, investors have fallen to the bait and lost somewhere around half-a-million dollars.

MicroStrategy’s Twitter Hacked

Hackers gained unauthorized access to the MicroStrategy account and proceeded to post a phishing airdrop link, potentially putting users at risk of financial loss. Twitter handle Spreek was the first to report this.
Reportedly, a tweet surfaced from MicroStrategy’s official account stating the launch of an Ethereum token $MSTR. Interestingly, the tweet noted that this token will be backed by the company’s own Bitcoin reserves.
As reported by cybersecurity analyst ZachXBT, the unauthorized post has already resulted in a significant loss amounting to $440,000. The phishing link deceived users into providing sensitive information or transferring cryptocurrency to the attackers, under the guise of a fraudulent airdrop campaign. MicroStrategy has yet to issue an official statement addressing the breach.

0xe7645b8672b28a17dd0d650a5bf89539c9aa28da
~$440K stolen from the compromise so far
— ZachXBT (@zachxbt) February 26, 2024

Twitter (X) Account Hacks Are Getting Common, Once Again

Hacking official Twitter (X) handles has been a common goal for all hackers and X continues to be the most popular platform for crypto community engagement. So far, hackers have been targeting the X accounts of crypto firms, however, we have witnessed them going far and beyond by hacking the accounts of some of the top regulatory agencies and corporate firms.
Last month, in a surprising twist preceding the anticipated approval of the spot Bitcoin ETF, a tweet from the SEC X handle declared the ETFs as approved. Notably, the X platform verified that, at the time of the account compromise, the SEC account lacked two-factor authentication.
The breach resulted from an unidentified party gaining control over a phone number linked to the SEC account through a third-party service, as outlined by the Safety Team. The agency issued a statement affirming its intent to cooperate with law enforcement authorities in probing the hack.
MicroStrategy is the latest victim of another such major incident in 2024. It seems that big players really need to beef up the security measures in all their communicating channels in order to avoid such incidents in the future.

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Top 3 Crypto Gainers Of The Week: UNI, FIL, And WLD

Top 3 Crypto Gainers of The Week: UNI, FIL, and WLD

The crypto ecosystem had an eventful week with Uniswap (UNI), Filecoin (FIL) and Worldcoin (WLD) taking the center stage
By Godfrey Benjamin16 hours ago

STORY HIGHLIGHTS

Uniswap, Filecoin and Worldcoin are top gainers for the week
Worldcoin just hit a new All-Time High (ATH)
The influence of spot Bitcoin ETF cannot be underestimated

The crypto ecosystem had an eclectic week seeing Bitcoin (BTC) soaring to a high of $52,945 on heightened sentiments surrounding spot Exchange Traded Fund (ETF) products.
With the heightened activities surrounding Bitcoin’s price action, many altcoins joined the trend, soaring to new heights when interwoven with their own personal ecosystem fundamentals. Of the altcoins that recorded expansive growths this period, Uniswap (UNI), Filecoin (FIL) and Worldcoin (WLD) stand out.
Here’s an overview of their price outlook this past week.

Uniswap (UNI)

This week in crypto, it was as if Uniswap (UNI) emerged from dormancy after it soared as high as 76% after it unveiled a change in staking mechanism to reward its adopters. At the time of writing, Uniswap is in a correction mode as its price has slipped 5.87% in the past 24 hours to $10.56.
Uniswap 7-Day Chart. Source: CoinMarketCap
Uniswap has retained a more than 38% growth over the trailing 7-day period and with its new UNI.ETH domain name embrace, the DEX platform is likely to draw more use cases that can weigh in on the price in the long term.

Filecoin (FIL)

Filecoin (FIL) showcased a breakout from dormancy this week as its price retested the $8 price mark for this first time in more than a month. At the time of writing, the decentralized file storage protocol jumped is worth $8.45, up by 8.11% in the past 24 hours.
In the past 7-days, Filecoin has jumped more than 38% and by over 78% in the past month. As a crypto with many use cases, Filecoin recently gained a validation from Solana co-founder, Anatoly Yakovenko amid both protocol’s partnership, underscoring the importance of the protocol in the crypto ecosystem.
Filecoin 7-Day Chart. Source: CoinMarketCap

Worldcoin (WLD)

Beyond gaining major traction in its Orb verification innovation, Worldcoin has been riding on the growing influence of OpenAI to chart new pathways for itself. Earlier today, Worldcoin breached the All-Time High (ATH) of $9.33 after sustaining a 24-hour growth of 5.80%.
With its parabolic growth, Worldcoin is now leading the crypto momentum after amassing an additional 60% surge in 7 days and 292% in the past month.
Worldcoin 7-Day Chart. Source: CoinMarketCap

Crypto Momentum Not Slowing Down

The spot Bitcoin ETF emergence has shifted the paradigm in the crypto ecosystem overall. Beyond the trio of Uniswap, Filecoin and Worldcoin, other altcoins also entered into the limelight in the week.
More growth pushes are projected as investors are now more confident in the market and in the long term, more upshoots might be recorded in the long term.

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Starknet (STRK) Becomes Fourth Ethereum L2 With TVL Above $1B

Starknet (STRK) Becomes Fourth Ethereum L2 With TVL Above $1B

Starknet (STRK) is now the fourth biggest Ethereum L2 chain per Total Value Locked (TVL) which has now topped $1.3 billion
By Godfrey Benjamin18 hours ago

STORY HIGHLIGHTS

Starknet has cross the $1 billion TVL milestone
The protocol now trails only Arbitrum, Optimism and Manta Network in TVL
The STRK token has seen erratic growth since launch

Ethereum-based Layer-2 scaling solution Starknet is on a bullish rampage following its historic launch earlier in the week. Starknet is now the 4th L2 on Ethereum whose Total Value Locked (TVL) now exceeds the $1 billion threshold.

The Starknet (STRK) TVL Growth

Starknet made its emergence in the crypto ecosystem following the launch of its STRK airdrop. The protocol rewarded its early users with over 700 million tokens out of the designated 1.8 billion for the airdrop.
The Starknet airdrop was a success but with few inconsistencies like some users receiving millions of the STRK token. There was an immediate selloff from some recipients that eventually led to the slump in the price of the asset at post-launch.
Just like other known Ethereum L2 debuts, Starknet’s emergence was supported by many top trading platforms including Binance Exchange which eventually listed STRK for trading.
Per data from L2Beat, Starknet now boasts of a TVL of $1.31 billion, up by more than 620% since launch. With the statistics, Starknet now trails only behind Arbitrum One with a TVL of more than $12.82 billion, OP Mainnet with a TVL of $7.51 billion and Manta Pacific that boasts of a $1.83 billion locked in its smart contracts.
Starknet approaches the Ethereum scalability agenda in a unique way using its zk Rollup technology. Recognizing its uniqueness has drawn many new capital inflow with top smart contracts on the platform including Orbiter Finance and Rango Exchange now drawing users across the board.

The STRK Token Outlook

The Starknet (STRK) native token has faced a lot of selling pressure since its emergence, one that is reminiscent of the volatile digital currency. At the time of writing, the token is changing hands for $1.92 after dropping by 1.53% in the past 24 hours.
While STRK has witnessed some bullish rebounds, its metrics shows that many early recipients are still selling off the token, underscored by the more than 30% slump in trading volume to $293,675,333. Amid these broader price slump, the launch of Starknet (STRK) has proven to be relatively successful with the market capitalization now pegged at $1.39 billion.
With advanced perpetuals contract trading integration like that from Binance, Starknet is poised to wade through its ongoing bearish slump in the near future.

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AI News: 5 Takeaways From Nvidia’s Earnings That Could Spark Market Trends

AI News: 5 Takeaways From Nvidia’s Earnings that Could Spark Market Trends

The five most notable trends set by Nvidia's upbeat earnings establish a pattern for the larger AI sector.
By Nausheen Thusoo19 hours ago

STORY HIGHLIGHTS

Nvidia's results have cemented the idea that AI revenue will be the key source of income for many in the race.
With its software and service offerings, Nvidia announced "great progress" and achieved a yearly revenue run rate of $1 billion.
Nvidia's results show that sanctions on China have not hampered shipment and trade.

The AI industry saw a sentimental boost in investor opinion as Nvidia posted extremely upbeat results. With $22.1 billion in revenue for the quarter, Nvidia reported adjusted profits per share (EPS) of $5.16. Revenue of $20.4 billion and profits per share of $4.60 were the projections made by analysts. Nvidia reported an EPS of $0.88 on $6.1 billion during the same period last quarter, which is a huge increase. The company’s $27 billion in revenue for the full 2022 fiscal year served as another evidence of Nvidia’s accomplishment.
Nvidia’s earnings also set a trend for the broader artificial intelligence industry. Here are 5 characteristics of Nvidia’s results that could turn into trends in the future:

AI Revenue to Become Top Priority for Companies

Nvidia’s results have cemented the idea that AI revenue will be the key source of income for many in the race. Tech giants will also have to soon pace up their AI development to start minting AI revenue. According to Investing, Data center sales, which includes Nvidia’s major AI sales, more than tripled to $47.5 billion for the fiscal year 2024 thanks in part to Nvidia’s record-breaking fourth-quarter revenue of $18.4 billion.

China Chip Sanctions Not a Big Worry

Nvidia in its results said that “except China, where data center revenue drastically decreased as a result of the US government’s October export restriction regulations, growth was robust everywhere else”. Last year, the United States sanctioned chip-making firms in China, which caused a steep rivalry among both nations to dominate the AI race. Despite not having the necessary permissions from the US government to export prohibited goods to China, the business stated that Nvidia has “started shipping alternatives that don’t require a license for the China market.”
The move shows that the overall worries that market participants had about sanctions on China, and an overall fall in chip trade are likely to perish as companies are now looking at suitable alternatives to keep their businesses profitable.

AI Market Growth to Be Key

In the future, AI will be a significant source of income for IT companies. The outlook for the industry could see a significant portion of IT businesses’ operations centered around artificial intelligence. Due to the constant release of new product lists and subscription models, AI will likely be the prime focus and user base provider for many companies in the future.

AI Supply Chain to Stay Stable

The supply chains of the industry leader in AI, which has struggled to keep up with the rapid demand for Nvidia processors, are also getting better. Stable supply chains for AI will have to guarantee that manufacturing can go on even in unstable environments. Though many companies can face issues meeting expectations, the boarder idea of venturing into multiple products to set the issue off is common in the industry. This resists interruptions to the international movement of products by spotting early warning signs and proactively and consistently adjusting to changing circumstances.

Nvidia’s AI Enterprise Software

With its software and service offerings, Nvidia announced “great progress” and achieved a yearly revenue run rate of $1 billion. The growth signifies the wider use of AI software by customers. This also shows a spur in demand and usage by markets. In the future, a key metric to judge any company’s earnings and growth will be analyzing its software growth and the overall performance of that particular segment.