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The price of bitcoin set a new $61,820.49 all-time high over the weekend after a period of drops and consolidation since mid-February, according to CryptoCompare’s Bitcoin Price Index.
Popular cryptocurrency exchange FTX is reportedly negotiating with Florida’s Miami-Dade County authorities a sponsorship deal that would see it rename the stadium of the NBA’s Miami Heat.
A platform for issuing social tokens on the Ethereum blockchain, Roll, has been exploited for almost 3,000 ETH, or about $5.7 million. Tokens minted and distributed on the platform including WHALE, RARE, and PICA were seemingly stolen and dumped on the market.
Top stories in the Crypto Roundup today:
- Bitcoin Price Sets New $61,800 All-Time High
- FTX Reportedly in Talks to Rename NBA Stadium
- Social Token Platform Roll Exploited For $5.7 Million
- Daily Movers – ONE, ALGO, HBAR
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Bitcoin Price Sets New $61,800 All-Time High
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The price of bitcoin set a new $61,820.49 all-time high over the weekend after a period of drops and consolidation since mid-February, according to CryptoCompare’s Bitcoin Price Index.
The cryptocurrency has since corrected back down to $58,000, its previous all-time high. Speaking to CoinDesk Jehan Chu, co-founder and managing partner of Kenetic, a Hong Kong-based trading firm, said:
“Institutional investment continues to build momentum with Chinese internet firm Meitu the latest to execute a Bitcoin treasury strategy.”
Bitcoin’s recent retreat to $43,000 is believed to be associated with uncertainty in traditional markets over the $1.9 trillion stimulus in the U.S. and its effects on bond yields. BTC’s new high came two days after President Joe Biden signed the stimulus program.
Some people are reportedly already receiving stimulus checks, which could have contributed to bitcoin’s rise. U.S. Treasury yields have since climbed back to over 12-month highs, which to some could have negatively affected bitcoin’s price.
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FTX Reportedly in Talks to Rename NBA Stadium
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Popular cryptocurrency exchange FTX is reportedly negotiating with Florida’s Miami-Dade County authorities a sponsorship deal that would see it rename the stadium of the NBA’s Miami Heat.
The basketball arena, owned by Miami-Dade County, has been named after its sponsor American Airlines since 1999. If the deal is successful, its name would change to the FTX Arena. A domain name associated with that name – ftxarena.com – is already registered, which could mean FTX is close to a deal, or someone sniped the domain name.
The intersection between crypto and basketball isn’t new. NBA Top Shot, a crypto collectibles trading card games, has been growing over the last few weeks. Miami Mayor Francis Suarez has also recently shown a crypto-friendly stance, at one point proposing the city pay part of public sector employees’ salaries in bitcoin.
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Social Token Platform Roll Exploited For $5.7 Million
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A platform for issuing social tokens on the Ethereum blockchain, Roll, has been exploited for almost 3,000 ETH, or about $5.7 million. Tokens minted and distributed on the platform including WHALE, RARE, and PICA were seemingly stolen and dumped on the market.
WHALE, a social coin backed by NFT assets, confirmed the incident saying 2.17% of its supply was “compromised through a hack on our social token issuer’s hot wallet.” In a follow-up tweet, WHALE announced it secured the rest of its tokens in cold storage.
Blockchain data shows that hundreds of ETH were transferred to Tornado Cash, a privacy tool used by hackers to cover their tracks by making it hard to follow transaction trails on the blockchain.
In response Roll suspended withdrawals of social money from its wallets, and set up a $500,00 fund to help those affected. Behind the hack was seemingly a compromised Roll wallet.
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Daily Movers – ONE, ALGO, HBAR
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Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.
Harmony (ONE) – Harmony provides a high-throughput, low-latency and low-fee consensus platform designed to power the decentralized economy of the future. It plans to address the issues faced in other blockchain ecosystems through the use of the best research and engineering practices in an optimally tuned system.
Hedera Hashgraph (HBAR) – Hedera is a decentralized public network for the users to make its digital world exactly as it should be – theirs. Whether the user is a startup or enterprise, a creator or a consumer, Hedera is designed to go beyond blockchain for developers to create the next era of fast, fair, and secure applications.
Algorand (ALGO) – The Algorand platform is the first public, a permissionless pure proof-of-stake blockchain protocol that solves the “blockchain trilemma” of achieving scalability, security, and true decentralization all at once. Performance on the Algorand platform exceeds 1000 transactions per second (TPS) with a latency of fewer than 5 seconds
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State of the Crypto by Top Tier Exchange Volume
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