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Introduction
LayerZero is an omnichain interoperability protocol designed for lightweight message passing across chains. LayerZero provides authentic and guaranteed message delivery with configurable trustlessness. It is a “blockchain of blockchains” that allows other blockchain networks to communicate directly and in a trustless manner.
According to @ai_9684xtpa's monitoring, three hours ago, a suspected PORTAL market maker address withdrew $2.6 million worth of ZRO from CEX, making it the second largest asset held by this address ($4.03 million). The top one is AVAX ($13.42 million). Prior to this, there had been no ZRO interaction with this address for over a month.
A suspected PORTAL market maker address withdrew $2.6 million worth of ZRO from CEX three hours agoLayerZero Labs and Eigen Labs have partnered to create the Cryptoeconomic Decentralized Verifier Networks (DVNs) Framework, designed to improve the security of cross-chain transactions. The new system leverages financial incentives and technical verification to safeguard cross-chain messaging. According to a blog post from LayerZero on October 2, this collaboration addresses challenges such as limited security participation and a lack of economic incentives in existing systems. DVNs allow verifiers to stake assets like Ethereum (CRYPTO:ETH) or native tokens such as EIGEN (CRYPTO:EIGEN) or ZRO (CRYPTO:ZRO) as collateral. If a verifier acts dishonestly or makes mistakes, the staked assets can be slashed, ensuring the system's integrity. The process consists of four primary mechanisms: staking assets, sending and verifying messages across blockchains, voting to veto staked assets if discrepancies are found, and slashing assets in case of malicious behavior. These mechanisms aim to create a more secure environment for decentralized cross-chain communication. Eigen Labs highlighted that the re-staking primitive in EigenLayer allows anyone to stake their assets, further adding a layer of security to omnichannel messaging. The system's flexibility enables application-specific DVNs with customizable security parameters, encouraging wider participation in securing blockchain transactions. The open-source nature of the DVN framework allows other teams to launch their own networks using their preferred assets for staking, expanding the potential use cases. As more entities adopt this framework, LayerZero Labs anticipates that blockchain communication will increasingly emphasize trust, transparency, and accountability. At the time of reporting, EigenLayer has a total value locked (TVL) of $10.8 billion, though this has declined by 50% over the past four months, according to DeFiLlama. The new DVN system is expected to bring more stability and security to cross-chain interactions, reinforcing trust in blockchain technology.
LayerZero and Eigen Labs boost cross-chain transaction securityThe team behind Ethereum re-staking protocol EigenLayer and cross-chain messaging protocol LayerZero have introduced a new system to make cross-chain communication more secure. In a blog post on Oct. 2, LayerZero Labs announced the partnership with Eigen Labs and introduced a framework for “CryptoEconomic Decentralized Verifier Networks” (DVNs). The system combines technical verification with financial incentives to ensure secure cross-chain messaging. It solves several issues regarding cross-chain security, such as lack of economic incentives to ensure trust, limited participation in security, and inflexibility in security models. DVNs leverage cryptoeconomic security, where verifiers stake assets that can be taken away or “slashed” if they act dishonestly or make mistakes. The system has four primary mechanisms to ensure cross-chain communication security. Verifiers lock up or stake assets like ETH , or other tokens such as the protocol’s native assets EIGEN or ZRO, as collateral. Messages are then sent and verified across blockchains. If a discrepancy is found, tokenholders can vote on whether to veto the staked assets. Finally, if malicious behavior is confirmed, the staked assets are taken away or slashed. Stake, verify, veto, slash process for DVNs. Source: LayerZero Labs The benefits of the system include increased security for cross-chain messaging, financial incentives for honest behavior, inclusion of any network to contribute by staking assets, and flexibility with various verification methods, according to the blog post. The framework is open source, which allows other teams to launch their own DVNs using their preferred assets to stake. This enables application-specific DVNs with customizable security parameters. Eigen Labs explained in a blog post that previously, the security of verifying omnichannel messages was solely based on the network’s verification mechanisms. “But now, with Eigenlayer’s re-staking primitive, anyone can stake their assets to provide an extra layer of security,” it added. Interoperability protocol LayerZero is a marketplace for DVN verifiers, with 35 entities currently participating, including zk-proof-based teams like Polyhedra, multi-bridge attestations from Hashi, and oracles like Google Cloud, it stated. Related: EigenLayer’s EIGEN cracks top 100 market rank in trading debut LayerZero Labs concluded that, as this framework is adopted, the future of blockchain communication will be “defined by trust, transparency, and accountability bringing us closer to a world where every message across blockchains is secured by cryptoeconomics.” EigenLayer currently has $10.8 billion in total value locked; however, according to DeFiLlama, that figure has fallen by almost 50% over the past four months. Magazine: Ethereum restaking: Blockchain innovation or dangerous house of cards?
LayerZero Labs, Eigen Labs raise the stakes on cross-chain transactionsBitget market data shows that cross-chain bridge concept tokens are performing strongly, among which: AXL has increased by 21.73% in the last 24 hours, currently priced at $0.71682; W has increased by 18.47% in the last 24 hours, currently priced at $0.3002; ZRO has increased by 8.50% in the last 24 hours, currently priced at $4.979.
Cross-chain bridge concept tokens generally rise: AXL 24-hour increase of 21.73%Since adopting Bitcoin as part of its financial strategy in April 2024, Japanese firm Metaplanet has experienced a significant stock surge of 443.2%, far surpassing the performance of other major assets. This sharp increase is largely credited to the company’s bold move to embrace cryptocurrency, which has strengthened investor confidence and increased demand for its stock. Additionally, a crypto analyst has projected that Cardano’s native token, ADA, could rise to $0.50, adding to the market’s growing optimism. Meanwhile, tokens within specific blockchains have also witnessed rallies. This article curates the trending cryptocurrency tokens on Avalanche Chain today . Trending Cryptocurrency Tokens on Avalanche Chain Today LayerZero is a cutting-edge interoperability protocol that links more than 50 blockchains. Spell Token (SPELL) is currently trading at $0.000214, with a market capitalization of $324.71K. The PHARAOH (PHAR) token is valued at $46.255, holding a market cap of $847.86K. Pepe Unchained (PEPU) has gained attention in the crypto community due to its successful presale and future development plans. Additionally, PayPal has expanded its services, enabling merchants to buy and sell cryptocurrencies. 1. LayerZero (ZRO) LayerZero is an innovative interoperability protocol connecting over 50 blockchains. The network empowers developers to build seamless omnichain applications, tokens, and experiences. The protocol operates through immutable on-chain endpoints, a configurable security stack, and a permissionless set of Executors. This framework enables the censorship-resistant transfer of messages between different blockchain networks, providing a more connected and decentralized ecosystem. As of press time, LayerZero trades at $4.704, with a market capitalization of $5.01 million. Over the last 24 hours, its trading volume reached $1.01K, showing an 18.18% increase in activity. The circulating supply is currently at 1.03 million ZRO coins, representing 100% of its total supply. Furthermore, the platform has processed a significant 121.74K transactions, and its volatility index is 0.3713. Although the market liquidity remains modest at $2.7K, the project shows signs of resilience. Regarding price predictions, LayerZero is expected to experience steady growth soon. By September 30, 2024, the ZRO price may climb to $5.79, marking a 20.59% increase. Forecasts for the following week suggest the token could trade within the $5.79 to $7.01 range, with the upper price target indicating a 21.13% rise by October 7, 2024. In conclusion, while the protocol is still evolving, LayerZero demonstrates strong potential for growth. Its bullish market outlook is supported by increasing activity and positive technical indicators. However, market fluctuations could still impact its trajectory. 2. Spell Token (SPELL) Spell Token (SPELL) trades at $0.000214, with a market capitalization of $324.71K. Over the past 24 hours, SPELL has experienced a 51.94% increase in trading volume, reaching $834.78. The circulating supply stands at 1.51 billion SPELL coins, which fully matches the maximum supply available. SPELL’s market indicators show a moderate level of activity. The token has a market cap of $324.71K and liquidity of $9.2K, with 26.45K holders. Over the last 30 days, SPELL has had 17 green days, reflecting some consistency in price gains. Currently, SPELL is trading 6.25% above its 200-day Simple Moving Average (SMA) of $0.000553, which can be a positive signal for future performance. Regarding recent trading activity, SPELL recorded nine transactions within 24 hours. Five were buy orders, amounting to $804.88, while four were sell orders, totaling $29.91. The token’s price during these trades ranged between $0.00014 and $0.00021, with liquidity appearing moderate about its market capitalization. . If it reaches the upper price target, this would result in a significant increase of 368.72%. Spell Token has demonstrated positive performance over the past year, with a 16% price rise. Its current price, positioned above the 200-day SMA, is a bullish indicator, though the token remains somewhat volatile. With moderate liquidity and market cap, the price predictions show potential for further growth. However, investors should remain aware of market risks and fluctuations when considering future investments in SPELL. 3. PHARAOH (PHAR) The PHARAOH (PHAR) token is currently priced at $46.255 USD and has a market capitalization of $847.86K. Additionally, its 24-hour trading volume is $87.54K, reflecting an 18.14% increase over the past day. Moreover, the circulating supply is 18.33K PHAR coins, representing 16.27% of the total supply of 112.62K PHAR. In terms of liquidity, the market holds $621.9K, and the token has a total market cap of $4.98M. Furthermore, the number of holders is 5.1K, and 114.75K transactions have been completed so far. In addition, the coin has a volatility rate of 0.1407, indicating moderate price fluctuations. Looking at recent activity, PHARAOH has shown a 13.06% increase over the last 24 hours. Notably, it has experienced significant weekly growth at 85.63%. Over the past 24 hours, 132 transactions were processed, with 51 buys amounting to $52,710.53 and 81 sell orders totaling $34,834.85. PHARAOH has gained significant traction, with 5.1K holders and over 114.75K total transactions. The token’s liquidity pool consists of 10.93K WAVAX and 6.93K PHAR, representing 6.15% of the total supply pooled. Notably, PHARAOH’s DEXTscore, which assesses project reliability, is strong, with high marks across the board. The Pharaoh Exchange platform has also surpassed $20M in Total Value Locked (TVL), with over $1.15 billion in total trading volume and 581,545 total trades executed by 50,470 traders. This growing activity suggests increasing confidence in the platform. What Might Be The Next Top Trending Crypto? Pepe Unchained (PEPU) has recently garnered attention in the crypto space thanks to its presale success and plans for future development. The project has raised $15.4 million so far, making it a standout among early-stage cryptocurrencies. With its upcoming Layer-2 blockchain specifically designed for meme coins, PEPU could see further growth, particularly with its goal of offering a network 100 times faster than Ethereum. One of the key features of the Pepe Unchained project is the introduction of tools like a block explorer and Ethereum bridging, which could make the platform attractive to meme coin traders and creators. The price of PEPU tokens currently sits at $0.00985, with expectations of further increases as the presale progresses. The project has allocated 40% of its total token supply to presale participants, while 10% is reserved for marketing efforts. Additionally, 7.5% of the supply is set aside for exchange liquidity when PEPU is listed on decentralized exchanges (DEXs). A major draw for investors is PEPU’s double staking protocol, which promises an estimated annual return of 137%. This staking option has already attracted over 1.16 billion PEPU tokens from investors. The project is also launching a developer incentive program, “Frens with Benefits,” which aims to attract blockchain developers to its Layer-2 network. Grants under this program, managed by the “Pepe Council,” are expected to start in Q4 2024. Visit Pepe Unchained Presale Read More Most Trending Cryptocurrency
Trending Cryptocurrency Tokens on Avalanche Chain Today – LayerZero, Spell Token, PHARAOHBitlayer partners with LayerZero for seamless cross-chain dApp communication. LayerZero’s protocol eliminates cross-chain transaction fees, enhancing user experience. defi.money integrates LayerZero for secure, omnichain stablecoin transfers. Bitlayer teamed up with LayerZero Labs to improve cross-chain interoperability within its ecosystem. This partnership will use LayerZero’s open-source, immutable messaging protocol. This will allow Bitlayer projects to create dApps that communicate seamlessly across over 90 blockchain networks. Furthermore, the integration will let developers bridge funds across over 300 decentralized applications operating within Bitlayer’s ecosystem. LayerZero’s Protocol Eliminates Transaction Fees LayerZero’s messaging protocol will eliminate transaction fees associated with cross-chain interactions, simplifying the bridging process between various blockchain platforms. The protocol’s unique design will give Bitlayer developers more control over the security of their applications, allowing them to send arbitrary messages across chains without compromising their security frameworks. By integrating LayerZero, Bitlayer will further enhance its ecosystem’s full Ethereum Virtual Machine (EVM) compatibility, making it easier for developers to design and deploy applications that communicate and function seamlessly across multiple blockchains. Read also: LayerZero Redistributes Unclaimed ZRO Tokens, Rewards Active Users LayerZero has quickly become essential for cross-chain connection, emerging as a leading decentralized messaging and communication solution. As of the second quarter of 2024, LayerZero has facilitated over 137 million messages across 90 different blockchain networks. The protocol has supported over $5.0 billion in crypto-asset transfers, with more than 200 decentralized applications using its messaging system for cross-chain interactions. Defi.money Adopts LayerZero for Enhanced Functionality Besides its partnership with Bitlayer, LayerZero has also integrated with DeFi protocol defi.money . This integration will allow defi.money’s native stablecoin, MONEY, to function as an omnichain fungible token (OFT), enabling cross-chain liquidity and seamless token transfers across supported networks. With the OFT standard, users will be able to send, receive, and deploy assets across blockchains, creating a natively omnichain environment for defi.money. The defi.money team noted that LayerZero’s secure messaging protocol will be crucial in ensuring that defi.money maintains full control over the MONEY contract, eliminating third-party risks. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
LayerZero Expands Cross-Chain Reach with Bitlayer and defi.moneyon Sept. 26,Cross-chain communication protocol LayerZero has seen a resurgence in on-chain activity following the announcement of its second airdrop program, with average daily message volume rising to 98,000 on Saturday, up 433 percent from this low point (18,400), indicating renewed user interest in the protocol. Recent activity on the protocol has been subdued, with average daily messages hovering around 20,000 for several weeks. The announcement of the second airdrop appears to have been the catalyst for the surge in activity. It should be noted that wallets that claimed ZRO tokens in the first airdrop but did not show subsequent activity were excluded from this round, thus incentivizing users to continue participating in the protocol. This criterion is a clever mechanism to differentiate between genuine users and speculative “airdrop farmers,” potentially fostering a more active and loyal user base. (The Block)
LayerZero Sees Surge in User Activity After Announcing Second Airdrop Program, Average Daily Message Volume Up 433% from Low PointThe market shows that ZRO has broken through $4.85 and is now quoted at $4.802, with a 24-hour increase of 13.87%. The market fluctuation is quite large, please manage your risk well.
ZRO has broken through $4.85, with a 24-hour increase of 13.87%LayerZero (ZRO), a cross-chain communication protocol, is experiencing a dramatic resurgence in activity following the announcement of its second airdrop. On Saturday, the number of daily messages on the platform rose to 98,000, a 433% increase from the previous low of 18,400. The spike came after a period of stagnation when message volume hovered around 20,000 per day. The increase in activity appears to be directly linked to the recent airdrop announcement, which introduced new eligibility criteria designed to encourage continued engagement with the protocol. Unlike the first airdrop, wallets that had previously claimed ZRO tokens but did not show further engagement were excluded from this round in a move aimed at filtering out “airdrop farmers” and rewarding more active participants. Related News A US Court Ruled in Favor of the SEC in a Cryptocurrency Case! This strategy serves multiple purposes. By encouraging continued engagement with the protocol, LayerZero fosters a more engaged and committed user base that can support long-term ecosystem growth. The 30-day claim window for the second airdrop is expected to keep activity levels high as users attempt to meet eligibility requirements for future token distributions. *This is not investment advice.
User Activity in this Altcoin Increased by Over 400 Percent Suddenly, Here’s WhyLayerZero ZRO +5.63% , the cross-chain messaging protocol, is witnessing a resurgence in activity, with daily messages rising to 98,000 on Saturday. This surge comes hot on the heels of the protocol announcing a second airdrop, breathing new life into the ecosystem. The recent spike represents a 433% increase from the previous low of 18,400 messages, signaling a renewed interest in the protocol. This resurgence is particularly noteworthy given the protocol's recent lull in activity, which had seen daily messages hovering around the 20,000 mark for several weeks. The announcement of a second airdrop appears to be the catalyst for this sudden uptick in activity. LayerZero's strategic move includes an interesting twist : Wallets that claimed ZRO tokens in the first airdrop but showed no subsequent activity are excluded from this round, incentivizing sustained engagement with the protocol. This criterion serves as a clever mechanism to distinguish between genuine users and opportunistic "airdrop farmers," potentially fostering a more active and committed user base. The implications of this strategy extend beyond just boosting short-term numbers: By rewarding active users, LayerZero is encouraging ongoing interaction with its protocol, which could lead to more organic growth and development of its ecosystem. The 30-day claim window for the new airdrop could sustain this heightened activity level as users scramble to meet potential criteria for future token distributions. As people start to claim their tokens, we’ll have to keep an eye out for the daily activity of LayerZero. Will this surge in activity translate into long-term adoption and use of the LayerZero protocol? Or will we see a drop-off once the airdrop excitement fades, similar to patterns observed with other protocols post-token distribution? This is an excerpt from The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.
LayerZero activity surges 433% following second airdrop announcementCryptocurrency protocol LayerZero ZRO is making headlines with a remarkable resurgence in user activity. The protocol has seen its daily messaging soar to 98,000, a stark contrast to its previous average of 20,000. LayerZero’s recent announcement regarding a second airdrop has significantly contributed to this uptick. Discover the factors driving LayerZero’s user activity resurgence and what it means for the future of cross-chain messaging protocols. Impressive Surge in Daily Messages on LayerZero Protocol LayerZero ZRO, the innovative cross-chain messaging protocol, recently recorded a dramatic increase in daily message volume, reaching 98,000 messages on Saturday. This represents a staggering 433% growth from its previous low of 18,400 messages. The substantial uptick follows weeks of stagnation, during which the protocol’s activity hovered around the 20,000 message mark. Impact of the Second Airdrop Announcement The pivotal driver behind this surge appears to be LayerZero’s announcement of a second airdrop. Historically, airdrops have been used as strategic incentives to increase user engagement and distribution of tokens. LayerZero’s recent move has not only reinvigorated its existing user base but has also attracted new participants, eager to claim their share of the airdrop. Long-term Implications of Increased Activity While the immediate uptick in user activity is promising, questions remain about the longevity of this interest. Will the excitement surrounding the airdrop lead to sustained usage of the LayerZero protocol, or will activity dwindle once the distribution period concludes? Observing patterns from similar protocols, there is a risk that daily message volumes might drop post-airdrop; however, if LayerZero can maintain engagement, it could signify robust long-term growth. Strategic Considerations for LayerZero’s Future LayerZero’s ability to keep users engaged post-airdrop will be critical in assessing its long-term viability. Continuing to innovate and provide valuable services could foster a loyal user base. Additionally, ensuring that the protocol remains secure and efficient will be paramount in maintaining users’ trust and interest. Conclusion The recent surge in LayerZero’s daily messaging activity, driven by the announcement of its second airdrop, underscores the protocol’s potential to re-engage and expand its user base. However, sustaining this growth will require strategic initiatives and ongoing innovation. Stakeholders will be closely watching if LayerZero can transform this short-term boost into long-term success, setting a precedent for cross-chain messaging protocols in the cryptocurrency space. In Case You Missed It: Republican Lawmakers Urge SEC to Repeal Controversial Crypto Rule SAB 121 Amid Bitcoin Regulation Debate
LayerZero ZRO Sees 433% Surge in Activity Following Second Airdrop AnnouncementOnly wallets with transactions after the Token Generation Event will get more ZRO tokens. Inactive wallets or flagged Sybil accounts will not receive any more tokens. Users must claim their additional tokens within 30 days or they will be given to LayerZero Foundation. LayerZero Foundation has ended the ZRO token claim period and started giving unclaimed monetary units to eligible wallets. Only wallets that claimed ZRO coins and made transactions after the Token Generation Event will get more currency. Any wallets flagged as Sybil accounts or inactive after TGE will not receive further tokens. Who Can Get Tokens? The Foundation set clear rules for wallets that can receive additional tokens.Accounts must have claimed ZRO tokens and made at least one transaction after TGE. Any wallets flagged as Sybil accounts in the first or second audit rounds are not allowed to get more tokens. This helps make sure only active users benefit from the redistribution. The ZRO claim period has ended. Any unclaimed tokens are being reallocated to wallets that claimed before 9 AM PT today. Eligibility for reallocation: – Ineligible: Wallets that claimed ZRO but had no transactions after the Token Generation Event (TGE) will not receive any more… pic.twitter.com/rOBimR8Fx0 — LayerZero Foundation (@LayerZero_Fndn) September 20, 2024 Eligible wallets will get tokens based on how much they originally claimed during TGE. Users who spent more on gas fees after TGE will receive more of the unclaimed tokens. This method helps active users get a fair share of the redistribution. Gas Fees Determine Token Shares LayerZero will give extra tokens to wallets that spent higher gas fees after TGE. Wallets with bigger gas fees will get a larger share of unclaimed tokens. This system encourages users to stay active on LayerZero after TGE and helps make the token distribution fair. Users should claim tokens from the same chain they used before. Aptos users need to use their EVM wallets for a smooth process. The Foundation gave this guidance to avoid any issues during the redistribution. Read CRYPTONEWSLAND on google news 30-Day Claim Deadline Users who are eligible have 30 days to claim their tokens. After 30 days, any unclaimed tokens will go to the LayerZero Foundation. Users should log into the $ZRO Claims Homepage to check their status and claim their tokens. The Foundation has asked users to act quickly and complete the process on time. The LayerZero system rewards active users. It makes sure that those who spent more time and effort using the network get their rightful share of the tokens. What effect will this have on future engagement with LayerZero? disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
LayerZero Ends ZRO Claims and Starts Redistributing Tokens to Active UsersPANews reported on September 21 that LayerZero announced on platform X that the ZRO claim period has ended, and all unclaimed tokens will be redistributed to wallets that previously claimed airdrops. Eligibility for redistribution: - Ineligible: Wallets that claimed ZRO after TGE but had no transactions will not receive any more tokens. Additionally, wallets identified as witches in the first or second round of audits are also ineligible. - Eligible: Wallets that claimed ZRO after TGE and used LayerZero at least once are eligible to receive additional tokens. The distribution method for eligible wallets is as follows: - Eligible wallets will receive proportionally based on their original share of ZRO obtained from TGE. - Tokens entering zero transaction wallets (i.e., ineligible wallets) after TGE will be redistributed to eligible wallets based on the amount of gas each user has spent since TGE. - This means each qualifying user will get their original proportional share plus an extra proportional share of tokens originally intended for non-qualifying wallets (based on paid gas fees). - Ensure you claim your additional tokens from the same chain as the first time. Aptos users should claim from their EVM wallet. Any unclaimed tokens within the next 30 days will go to the LayerZero Foundation.
LayerZero: The claim period for ZRO airdrop has endedCrypto lender Shezmu has managed to recover almost $5 million worth of assets after losing them earlier today in a hacking breach. Chaofan Shou raised the alarm on X that the lender’s storage vault had been compromised, and implied that it is not certain whether this is a genuine hack or a rug pull. Chaofan mentioned that $ShezUSD token worth $4.9 million was stolen in the attack. Later, in another X post, the lender’s team confirmed that its ShezmuUSD stablecoin vault was exploited and the funds were lost. The company urged the attackers to return the funds in exchange for a bounty and promised that no legal repercussions would follow the attack. The team gave the attacker 24 hours to return the funds, with a 10% bounty reward. It also mentioned that failure to return the funds in the designated time frame will prompt the team to escalate the matter legally. The hacker convinced Shezmu to raise the bounty to 20% Following an on-chain discussion with the hacker, the team received 80% of the stolen funds back into its treasury. The team reminded the hacker that his wallet is linked to a KYC exchange, and if the hacker returns the funds, the incident will be considered a white-hat hack. See also LayerZero concludes ZRO token claim period, announces redistribution to eligible users Negotiations between the Shezmu team and the hacker. Source: Etherscan A few hours after the incident, the team received the stolen Dai tokens in the wallet. At first, the hacker sent 282.18 Ether, followed by 137 WETH. The team has urged its investors and users of the protocol to avoid interacting with the platform’s Oasis vault for now, until further notice. In a similar event, WazirX , an Indian crypto exchange, reportedly got hacked recently, resulting in the loss of $230 million worth of funds. However, the exchange has not done much to track down the funds. Furthermore, WazirX did not formally accept that it was hacked and blamed its custodian for the loss of funds. Recently, the exchange ended up receiving legal threats from customers, including another rival exchange called CoinSwitch.
Shezmu recovers hacked crypto funds by negotiating with the hackerZRO token reallocation favors active post-TGE wallets, excluding inactive and Sybil accounts. LayerZero users can claim extra ZRO via a simple process; 30-day deadline applies. lzCatalyst program backs omnichain apps with $300M, aiming to integrate LayerZero tech. The LayerZero Foundation has officially closed the ZRO token claim period and started the process of reallocating unclaimed tokens. They’ve detailed the criteria for determining eligible wallets, how the reallocation will work, and the process for claiming additional tokens on their X account. How ZRO Tokens Will Be Reallocated The Foundation explained that only wallets that both claimed ZRO and made transactions after the Token Generation Event (TGE) are eligible for more tokens. Wallets without transactions after the TGE, and those flagged as Sybil during the first and second review rounds, won’t receive any further allocations. This approach prioritizes active LayerZero users after the TGE. Read also : LayerZero’s ZRO Token Surges 36% Weekly, Eyes $4.00 Resistance Level Eligible wallets will get their additional ZRO tokens through a pro-rata distribution system based on their original token claim during the TGE. Plus, users who spent more on gas fees after the TGE will get a bigger share of the tokens originally meant for ineligible wallets. The Foundation has asked users to claim their tokens from the same chain they originally used, especially highlighting that Aptos users should claim from their EVM wallets. Reclaiming Tokens and Extra Rewards Users eligible for token reallocation can claim their tokens in three easy steps. They need to log in to the $ZRO Claims Homepage, check their reallocation status, and claim their tokens. They also pointed out that users have 30 days to claim their tokens, after which unclaimed tokens will go to the LayerZero Foundation. Read also : LayerZero Labs Cracks Down on Insider Airdrop Participation On top of that, the Foundation has launched the LayerZero Pilot Quest, allowing users to complete quests to boost their ZRO allocation even more. This comes after the recent conclusion of the ZRO token reallocation process. LayerZero’s lzCatalyst Program Earlier this month, the LayerZero Foundation kicked off the lzCatalyst program to support projects integrating LayerZero’s technology. With up to $300 million in funding, the program connects developers with venture capital firms. Launch partners include a16z Crypto, Atrum, Delphi Ventures, and Animoca Brands. The lzCatalyst initiative focuses on building omnichain applications, which allow for smooth interaction between different blockchain networks. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
LayerZero Redistributes Unclaimed ZRO Tokens, Rewards Active UsersAnthony Scaramucci predicts Bitcoin could reach $100,000 by year-end. He expects pro-crypto legislation in early 2025, supported by bipartisan interest in the sector. Bitcoin is trending upwards at $60,328 ahead of the Fed’s policy decision. Hedge fund manager and SkyBridge Capital founder Anthony Scaramucci foresees Bitcoin reaching new all-time highs, according to a Bloomberg report . Scaramucci explained that this potential growth will stem from interest rate cuts and possible regulatory clarity following the November U.S. presidential election. “We are going to get pro-cryptocurrency, Bitcoin, and stablecoin legislation in the first part of the next congressional term in the US. At the same time, you’re intersecting with rate cuts from the Federal Reserve.” Bipartisan Support and Political Landscape Scaramucci also stressed the importance of bipartisan support in crypto regulation, pointing out that both Republicans and Democrats are interested in the sector. Former President Donald Trump has taken a pro-crypto stance to gain votes and donations in the presidential race. In contrast, Vice President Kamala Harris’s stance on digital assets remains uncertain, though Scaramucci is optimistic about the regulatory environment under her potential administration. He mentioned recent discussions with members of Harris’s campaign, suggesting that her team may support policies that encourage the growth of the cryptocurrency industry while making sure proper safeguards are in place. In August, a member of Harris’s campaign team indicated that she could back measures to help the crypto industry grow. Rate Cuts and Price Predictions On monetary policy, Scaramucci anticipates that the Federal Reserve will reduce borrowing costs by 50 basis points, part of an overall 150-basis-point cut expected over the next 18 months. He believes this will boost asset prices, including Bitcoin , which he predicts could reach $100,000 by year-end. Read also: Beyond Bitcoin: ETH, XRP, ZRO, TIA Show Bullish Signals Bitcoin hit an all-time high of $73,798 in March, driven by demand for U.S. exchange-traded funds (ETFs). After March’s all-time high, the cryptocurrency dropped, reaching $56,000 in August. Mid-year figures show a downturn for Bitcoin and the index around May, followed by a recovery phase that saw gradual increases mixed with minor declines. Similarly, the tech-focused index reached its yearly high around the same period but had a more steady progression than cryptocurrency. By September, the assets were again on the rise, suggesting a resilient performance amidst market fluctuations. Bitcoin has since seen a modest increase, rising by about 5% in the past two days ahead of the Fed’s policy decision. As of press time, Bitcoin traded at $60,328, up 2.11% in the recent intraday session. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Scaramucci Sees Bitcoin Soaring to $100,000 on Rate Cuts, Crypto ClarityEthereum’s breakout above $2,300 is crucial for a bullish move toward $2,320. XRP eyes $0.590 resistance whereby breaking through could push it toward $0.600. LayerZero’s volume surge signals potential gains if $4.05 resistance is broken. Beyond Bitcoin, altcoins are increasingly attracting investor interest. Ethereum (ETH), XRP, LayerZero (ZRO), and Celestia (TIA) are four such altcoins displaying notable trends in recent market activity. Each has its own distinct pattern, sparking curiosity on their potential for significant gains. Ethereum (ETH): Potential Upside Hinges on Key Breakthrough The current price of Ethereum is $2,299.77 increased by a small fraction of 0.27%. The price has been trading in a very narrow range of $2290-$2300 which shows equilibrium in the market between buyers and sellers. Support appears strong around $2,293, which looks like the price has established a base there. Source: Coinmarketcap However, a break below $2,290 could trigger bearish sentiment. On the resistance side, ETH has faced selling pressure at $2,300, a level it has struggled to overcome. A sustained break above this resistance could signal a bullish push toward $2,320, a higher resistance point. Hence, Ethereum’s near-term performance hinges on these critical levels. XRP: Strong Momentum with Key Resistance in Sight XRP is trading at $0.5861 , with an impressive 3.01% gain for the day. The price has been steadily climbing, backed by a 25.29% increase in trading volume. The support level at $0.5691 has proven resilient, preventing further declines and encouraging buyers to step in. An additional minor support is forming at $0.575, bolstering the bullish case. Source: Coinmarketcap On the resistance front, the price faces an immediate challenge at $0.590. Should XRP break past this level, the next resistance could be around $0.600, a historically significant number. Consequently, breaking through these resistance levels may solidify the bullish trend. LayerZero (ZRO): Volume Surge Signals Growing Market Interest LayerZero (ZRO) has shown strong upward momentum, with a daily increase of 5.77%, pushing the price to $4.03 . This bullish trend is fueled by growing market participation, evidenced by a 77.34% rise in trading volume over 24 hours. The key support level is at $3.809, where buyers have shown interest during recent dips. Source: Coinmarketcap Read also: LayerZero (ZRO) Price Prediction 2024-2030: Will ZRO Price Hit $5 Soon? The immediate resistance stands at $4.05, and breaking through this level could lead ZRO toward the $4.10 mark. Moreover, the surge in volume indicates increased market attention, suggesting potential for further gains if buying pressure continues. Celestia (TIA): Consolidation Ahead After Recent Gains? Celestia (TIA) is trading at $4.90 , following a 4.21% daily rise. The price recently bounced off $4.70, a critical support level. A second layer of support sits at $4.60, which has held in previous consolidations. On the upside, the price faces resistance at $5.00. Source: Coinmarketcap Read also: Celestia (TIA) Price Prediction 2024-2030: Will TIA Price Hit $50 Soon? A break above this resistance could set the next target between $5.10 and $5.15. However, the 31.53% drop in trading volume might suggest some profit-taking or waning interest, potentially leading to a period of consolidation before the next significant move. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Beyond Bitcoin: ETH, XRP, ZRO, TIA Show Bullish SignalsOn September 9th, Bryan Pellegrino, CEO of LayerZero Labs, stated at the South Korea Blockchain Week that proactive "witch hunting" activities and prioritizing developers and long-term users have helped maintain the stability of LayerZero's native token ZRO price after its airdrop. Pellegrino also said that LayerZero has done many "very unique" things through airdrops, including "large-scale witch hunts", preventing robots and over-farming to deliver its native ZRO tokens into the hands of the network's most loyal users. The price drop of LayerZero's native token ZRO is smaller compared to Ethereum L2 Starknet (STRK) and ZKsync (ZK), which launched their airdrops during the same period. Since its listing, the price of ZRO has only dropped by 23%.
LayerZero CEO: Witches "Hunting" and Long-Term Users Keep ZRO Price StableA combo of aggressive Sybil filtering and laser-focus on prioritizing developers and “durable” users helped the price of LayerZero’s native token hold steady following its airdrop, claims LayerZero Labs’ CEO Bryan Pellegrino. Pellegrino told Cointelegraph at Korea Blockchain Week that LayerZero did a lot of “very unique” things with its airdrop, including a “big Sybil hunt” that blocked bots and excessive farming in a bid to put its native ZRO (ZRO) tokens in the hands of the network’s most dedicated users. “Our goal was to reward the real users, the people who are the most dedicated and durable users.” The price of LayerZero’s native token, ZRO, stands in stark contrast to the tokens of Ethereum layer-2 network rivals Starknet (STRK) and ZKsync (ZK), which were also brought to market by airdrop in 2024. Pellegrino said the top priority for any team conducting an airdrop is to “close the gap between expectations and reality,” adding that LayerZero worked hard to balance the scales. “We did this big Sybil hunt. When we announced the Sybil at the beginning, there was a very visceral negative reaction to it because people didn’t expect this to happen,” he said. “But as soon as people started to see we were really putting a lot of effort in, and our goal was, for real users to get a higher allocation, people become very positive on the Sybil hunting.” ZRO outperformed rival major airdrops despite price decline LayerZero airdropped its native ZRO (ZRO) token to users on June 20, first hitting the market at a price of $4.40, per CoinGecko data . Despite receiving backlash over implementing a mandatory donation for users to claim their airdrop — which Pellegrino admitted the team “didn’t give people a heads up on” — the price of ZRO is trading down just 23% from launch. Bryan Pellegrino at Korea Blockchain Week 2024 in Seoul. Source: Cointelegraph Debuting on the market at an opening price of $5, the STRK token was airdropped to 1.3 million wallet addresses on Feb. 20. However, Starknet’s token launch was marred by claims the project had over-prioritized insiders over legitimate users of the network and failed to introduce protections against a massive number of “airdrop squatters.” Related: Rumpel Labs to launch platform for tokenizing airdrop points These airdrop squatters allegedly manipulated metrics on the developer platform GitHub to net themselves disproportionately large sums of STRK tokens. Pseudonymous Yearn.finance developer Banteg said that out of the 1.3 million wallet addresses eligible for the STRK airdrop, an estimated 701,544 addresses were allegedly linked to renamed GitHub accounts controlled by squatters. The price of Starknet’s STRK token is down over 91% from its launch amid a sharp decline in the number of active addresses on the network, plummeting from nearly 380,000 active accounts on Feb. 20 to just 8,300 at the time of publication, according to data from Starknet explorer Starkscan. The number of active accounts on Starknet has plummeted 97% since the airdrop. Source: Starkscan ZKsync airdropped its ZK token to users on June 17, debuting at a price of $0.31, and has since slumped over 67% to a price of $0.10 at the time of publication, per CoinGecko data. Similar to Starknet, ZKsync’s airdrop was lashed by critics for enforcing “almost no Sybil filtering,” allowing the airdrop to be farmed by predatory airdrop hunters who were never legitimate users of the network. “ZKsync airdrop is out. Most farmable and farmed airdrop ever probably,” Mudit Gupta, the information security chief of rival layer-2 network Polygon , wrote in a June 11 X post . “Almost no Sybil filtering as far as I can see,” Gupta added. “Anyone who knew the criteria could’ve easily farmed the shit out of it.” Magazine: ‘Everything feels like it’s going to shit’ — Peter McCormack reveals new podcast
‘Big sybil hunt’ and durable users helped LayerZero airdrop succeed, says CEOCryptocurrency investors are preparing for a critical September, with several significant United States’ macroeconomic events on the horizon that could impact the best altcoins to buy now. The Fed’s upcoming interest rate decisions are especially crucial, as they are expected to influence market dynamics. Whether positive or negative, changes in economic data can greatly affect investor sentiment and risk appetite, thereby influencing the attractiveness of assets like Bitcoin. Last week’s market downturn opened a window for wise investors to update their portfolios with prospective tokens. This week’s market rebound also offers another window for savvy investors to capitalize on the current trend. 5 Best Altcoins to Buy Now LayerZero (ZRO) is emerging as a key player in the crypto industry, primarily due to its focus on enhancing cross-chain communication. The Meme Games project has also attracted attention by timing its presale to coincide with the 2024 Paris Olympics and Paralympics. The presale will conclude on September 8, and the project plans to list on a decentralized exchange (DEX) by September 10. In other news, cryptocurrencies were up on Tuesday despite ETFs witnessing outflows as Wall Street eagerly awaits labor market data . 1. THORChain (RUNE) THORChain has grown considerably over the past week, particularly its weekly liquidity fees, which have increased significantly after a long period of consolidation. Last week, the network witnessed transactions surpassing $500k and reaching $744.8k. This figure marks a 71% gain compared to the previous week, indicating a substantial breakout. This growth comes during the first full week since the protocol raised its minimum Layer 1 (L1) swap cost to 0.15%. Despite the higher prices, network users have continued to use the service, showing resilience and the value they find in THORChain. The L1 swap traffic remains robust, with the average daily volume steady at $30.8 million, suggesting that the increased fees do not deter users. For the first time in 2024, the network’s fees have exceeded block rewards. Over the past week, liquidity fees comprised 51% of the total incentives distributed. THORChain has also seen substantial user growth. According to data, the user base has grown by 41% in 2024, reaching over 510,000 unique users. Similarly, the network’s trading volume has exceeded $71 billion. RUNE traders at $4.17 during press time, reflecting a 7% intraday rally. 2. LayerZero (ZRO) LayerZero’s (ZRO) focus on enhancing cross-chain communication has made it a merging player in the crypto industry. The network’s appeal lies in facilitating smooth interactions between different blockchain networks. This capability is particularly important as the blockchain ecosystem becomes more congested. Its role in enabling data and asset transfers across various blockchains enhances its value in the decentralized finance (DeFi) sector. ZRO is changing hands at $4.24, reflecting a 40% intraday rally. The 7-day chart also indicates substantial growth over the past week. As of August 29, LayerZero’s general sentiment is bullish, supported by fourteen technical analysis indicators showing positive signals. Over the past 30 days, LayerZero has closed above its opening price on 15 occasions (50% of the time). Predictions for this week suggest that ZRO will trade between $4.20 and $5.09. If it hits the upper target, it could increase by 21.05% to reach $5.09 by September 2, 2024. If the rally is sustained, ZRO is predicted to surge by 231.21%, reaching $13.92 by September 28, 2024. 3. dogwifhat (WIF) On Monday, memecoins experienced a notable recovery as the broader cryptocurrency market rallied during the Labor Day holiday. Dogwifhat (WIF) mirrored this trend, surging by 13.21% to $1.58. Despite this uptick, the price prediction sentiment remains bearish, with WIF still down 67% from its all-time high, indicating significant volatility. Dogwifhat is trading between $1.20 and $1.77. WIF’s recent 25% dip within a week has caught the attention of bullish investors, who are focusing on key resistance levels. The next significant resistance level is at $2.14. Surpassing this could propel the price to $2.71, representing a potential 55% increase from the current range. If WIF maintains its support level at $1.01, it could pave the way for a strong uptrend, with bulls ready to challenge the bearish momentum. WIF’s 30-day volatility is 10%, well below the 30% threshold, indicating a period of relative stability. Additionally, the coin has high liquidity, evidenced by a volume-to-market cap ratio of 0.8385. WIF shows robust trading activity with a market cap of $1.58 billion and a 24-hour trading volume of $1.33 billion. 4. The Meme Games (MGMES) The Meme Games project has garnered attention by aligning its presale with the upcoming 2024 Paris Olympics and Paralympics. This strategic move and a gamified presale approach have attracted significant interest within the blockchain community. The presale is scheduled to end on September 8, with a DEX listing planned for September 10. The project has raised over $407,000, indicating strong early interest. The current price of MGMES tokens is $0.0094, with the next price increase expected in four days. Investors can participate in the presale through the project’s website using an Ethereum or BNB Chain wallet. The Meme Games project is making a unique impression in the cryptocurrency market by merging the concept of a meme coin with the excitement of the 2024 Olympics. Although the Mondial event has concluded, the project continues to draw attention due to its Olympic-themed concept. The total supply of MGMES tokens is capped at 2.024 billion, with 38% allocated for the presale, offering early investors a substantial share. A standout feature of The Meme Games is its focus on fairness and unpredictability. Each character in the game has an equal chance of winning, which adds an element of excitement and potential reward for participants. Investors can also receive a 25% bonus on their MGMES tokens if their selected meme athlete wins. Additionally, they can improve their chances by purchasing tokens multiple times and supporting different characters. The project also includes a staking option, promising an annual return of 470%, though this rate may vary based on participation levels. Staking offers an opportunity to grow holdings before MGMES is listed on exchanges. Overall, The Meme Games combines an innovative concept with strategic timing to capitalize on the upcoming Olympic excitement and the growing interest in meme coins within the crypto community. Visit The Meme Games Presale 5. BNB (BNB) The BNB Chain ecosystem expanded significantly between August 20 and August 31, 2024, introducing various new projects across multiple sectors, including DeFi, AI, decentralized social networks (DeSoc), and Web3 gaming. LIKWID is a decentralized finance (DeFi) platform that stands out among the new entries. It offers no-loss presales and transaction fee-sharing features and aims to operate across multiple blockchains. Its goal is to integrate smoothly within the broader DeFi landscape. Noracle is another key project that focuses on artificial intelligence (AI). It provides a protocol for prediction-based decentralized applications (Dapps) and games, enhancing interactive and predictive functionalities within the Web3 environment. Despite these promising additions, the volumes of decentralized exchanges (DEX) on the BNB Chain have seen a significant drop of 29% over the past week. This decline is more pronounced than the decreases recorded by DEXs on Ethereum (11.5%) and Solana (19%). However, Binance Coin’s (BNB) price has shown signs of recovery, rising to $535. BNB remains one of the top cryptocurrencies in market capitalization, excluding stablecoins. With a market cap of $77.98 billion, it ranks just behind Ethereum (ETH) at $302 billion and Bitcoin (BTC) at $1.164 billion. Furthermore, Binance Coin is trading 2.82% above its 200-day Simple Moving Average (SMA) of $519.23, indicating a positive trend relative to its token sale price. Learn More Best Cheap Crypto Our Previous Best Altcoins To Buy Now Post
5 Best Altcoins to Buy Now September 3 – THORChain, LayerZero, BNB, dogwifhatDelivery scenarios