Disappearance of Nearly 2,000 Starknet Airdrop ParticipantsBy AZC News | 11 hours agoStarknet req
Disappearance of Nearly 2,000 Starknet Airdrop Participants
By AZC News | 11 hours ago
Starknet requires users to demonstrate commitment to network development or regular usage within specific timeframes due to its stringent eligibility criteria. The distribution plan for 10 billion tokens among investors, developers, contributors, and end users is set to be completed by September 2022.Disappearance of Nearly 2,000 Starknet Airdrop Participants
A notable crypto commentator, known as Banteg on X (formerly Twitter), recently assessed the participants in the recent Ethereum layer-2 network Starknet airdrop, revealing a surprising disappearance of the majority.
Sharing the revelation with his 178,700 followers on X, Banteg disclosed that nearly 2,000 participants eligible for the highly anticipated Starknet token airdrop have either changed the names of their accounts or completely deleted them since the activity snapshot.
"Reviewed all Starknet airdropees and discovered 1854 individuals who have either altered the name or deleted their account since the activity snapshot." He also claimed that roughly half of these accounts are occupied by squatters. "Approximately half of the names are squatted, but squatters stand no chance. I will personally ensure you steal zero coins from the real devs." A user on X proposed using user identification numbers instead of usernames to address this issue.
Starknet's public launch is set for February 20, creating heightened anticipation regarding eligibility for the airdrop. The criteria for participant eligibility are outlined on Starknet's website, emphasizing the need for contributors to demonstrate commitment to network development or frequent utilization over a specified period, setting it apart from typical crypto airdrops.
Speculation arises regarding Starknet Airdrop Eligibility as it deviates from the typical pattern where a project's hype coincides with the conclusion of its development and use-case timeframe.
Related: Top 10 Best-Selling NFTs of the Week
Unlike the norm, Starknet's eligibility criteria include using the network more than five times over a period of three months or more, along with transactions totaling at least $100 before the end of 2022. These stipulations not only aim to attract user interest but also serve as a means to rigorously test the network for any potential bugs.
StarkNet Alpha, initially launched in November 2021, has seen collaboration from various teams, contributing to the expansion of its ecosystem. With 10 billion StarkNet tokens already minted, the scheduled go-live date is set for September 2022. These tokens will be distributed to a diverse group including investors, employees, community developers, contributors, end users, and consultants.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their
By AZC News | 10 hours ago
A new report from Chainalysis reveals that the volume of crypto money laundering by criminal organizations in 2023 reached $22.2 billion USD.Crypto Money Laundering Decreases by 30% in 2023
Crypto money laundering activities related to criminal activities decreased significantly in 2023, partly due to the decrease in cryptocurrency trading volume last year, but also because hacker organizations such as the Lazarus Group have found other ways to evade detection. This is the conclusion of the annual crypto money laundering report released by Chainalysis on February 15th.
Evidence of the decline in crypto money laundering
Market research firm stated that in 2023, there were $22.2 billion in cryptocurrency funds detected related to money laundering and legal violations, a 30% decrease from the $31.5 billion in 2022.
Statistics on the amount of money laundered via crypto by year. Source: Chainalysis
However, there are still some alarming signs, such as criminal organizations like the Lazarus Group (responsible for hacks such as Ronin, Harmony, Atomic Wallet, Orbit Chain, etc.) gradually shifting from using mixing services and exchanges to launder money to cross-chain bridges, gambling platforms, and DeFi, indicating an increase in sophistication.
Statistics on the money laundering channels utilized by criminals in crypto. Source: Chainalysis
The increasing use of cross-chain bridges in crypto money laundering. Source: Chainalysis
Chainalysis declared that increased enforcement efforts from global authorities have also contributed to reducing and blocking the flow of assets through crypto by criminals. In November 2023, U.S., Dutch, and Finnish authorities shut down the Sinbad transaction mixing platform, one of the places frequently used by crypto hackers since Tornado Cash was penalized. Additionally, Tether announced at the end of the year that it had supported the U.S. in freezing over $430 million USDT related to criminal activities.
Related: Tether Announced Its Willingness to Cooperate with the FBI and US Secret Service
According to statistics, the cryptocurrency industry suffered $1.95 billion in losses in the past year due to hacking, scams, and security breaches, halving from the record $4 billion in 2022.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own re
By AZC News | 9 hours ago
Bitcoin has surpassed the $52,000 threshold, propelled by sustained buying pressure from institutional traders.Institutional Buying Spurs Bitcoin Surge Beyond $52,000
Bitcoin has surged past the $52,000 threshold, propelled by sustained buying pressure from institutional traders. According to Ki Young Ju, the founder and CEO of CryptoQuant, institutional brokers are actively purchasing Bitcoin on Coinbase to fulfill their clients' buy orders.
One key metric to gauge this activity is the "Coinbase Premium Index," tracking the percentage difference in BTC prices between Coinbase and Binance. Coinbase, favored by American institutional entities, and Binance, with a more global user base, reveal insights into the distinct buying and selling behaviors of these demographics.
The chart depicting the trend in the Coinbase Premium Index for Bitcoin over the past weeks illustrates predominantly positive levels. This indicates that the price listed on Coinbase has consistently exceeded that on Binance. Such a scenario arises when buying pressure from Coinbase users outweighs that on Binance or when the selling pressure on Coinbase is comparatively lower.
Notably, these positive values coincide with Bitcoin's upward trajectory, indicating a prevailing trend of net buying in the market. The green Coinbase Premium Index reflects the substantial buying pressure from US-based institutional traders, contributing to Bitcoin's recent surge.
In the initial week of the month, the indicator displayed a negative trend, and Bitcoin prices remained in a consolidation phase. However, as the metric shifted towards positive levels, it coincided with the commencement of the recent Bitcoin rally, highlighting the significant role played by these major entities in the current market dynamics.
Examining cumulative returns segmented by session further reinforces the notion that American investors have been pivotal in driving the price surge. Reflexivity Research co-founder Will shared a chart illustrating this pattern. Notably, Bitcoin has exhibited the most favorable returns during American trading hours in recent months, underscoring the substantial buying pressure exerted by entities based in the United States.
Related: Sustainable Growth for Bitcoin with No FOMO Signs
Given the observed correlation between institutional behavior on Coinbase and BTC prices, closely monitoring the premium in the coming days becomes crucial. A sustained positive trend could signify a continuation of the ongoing rally, while a shift into negative territory might indicate these entities engaging in selling activities.
By AZC News | 9 hours ago
In collaboration with the Web3 app Jambo, Aptos Foundation has just announced the launch of JamboPhone, priced at just $99.Aptos Foundation Introduces JamboPhone
According to the announcement on X on February 16th, Aptos Foundation has introduced the JamboPhone the first smartphone in the Aptos ecosystem, with the aim of opening up the digital economy for users in Africa, Southeast Asia, and Latin America.
As shared, JamboPhone is currently available in over 40 countries/regions and is priced at only $99, significantly cheaper than the previous $1000 starting price of the Solana-based Saga smartphone.
Based on the available information on the website, the smartphone features include:
4000 mAh lithium-ion polymer battery
6.5" LCD screen
Dual SIM
Dual-camera design
Users can refer to and purchase the product here.
JamboPhone is a product of collaboration between Aptos and the Web3 app Jambo. Similar to the Solana-based Saga smartphone, JamboPhone also focuses on applications within the Aptos ecosystem, including dApps such as the Petra wallet or Jambo, providing users with a seamless experience within the ecosystem.
Thus, Aptos is the next layer-1 blockchain after Solana to venture into producing physical phones for users. However, information about JamboPhone is still relatively scarce and has not been heavily promoted, while many are interested in JamboPhone to have the opportunity to receive airdrops from projects on Aptos, similar to the Saga precedent.
Related: Solana Plans to Launch a New Smartphone Line after Saga
Solana Develops New Model of Smartphone
Following the success of Saga, Solana has announced the development of another new generation crypto phone with a price tag of just $500. Initially named Chapter 2, this smartphone has reached the milestone of 100,000 pre-orders just one month after its announcement.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
