Day: December 16, 2023

Tron (TRX) could suffer after the HTX hack: is this presale a safer bet?

Recent headlines have been buzzing with concerns about the vulnerabilities of major players. The TRX community is facing a potential setback after the HTX Hack, leaving many investors uneasy about the security of their assets. 

This article delves into the implications of the HTX Hack and explores a potentially safer option for investment – Galaxy Fox, a new player with one of the best upcoming ICO campaigns.

TRX could suffer after major HTX hack

On November 22, the HTX and Heco cross-chain bridge, a protocol connecting an exchange and the Ethereum network, fell victim to a hacking incident, resulting in a staggering loss of over $116 million in crypto assets. This was the second major attack on HTX within three months, raising eyebrows within the crypto community.

Tron founder and HTX advisor Justin Sun publicized that the exchange would fully compensate affected users for their losses from the hack. This comes after a similar incident in late September, where assets worth $8 million were stolen from HTX, only to be returned after negotiations with the hacker.

Compounding the issue, another platform linked to Sun, Poloniex, was hacked in mid-November, with stolen funds amounting to a hefty $125 million. While the exchange couldn’t recover the stolen assets, Sun assured affected users that reimbursement for their losses would be facilitated through an airdrop.

In total, HTX, Heco Bridge, and Poloniex have collectively suffered losses of almost $250 million within a mere three months. Such security breaches are raising doubts among users about the safety of their assets on platforms associated with Justin Sun, including Tron (TRX).

Galaxy Fox: a much safer bet

Amid this crypto turmoil, Galaxy Fox emerges as a potential beacon of stability and innovation. Meme coins, once regarded as mere online jokes, have gained significant traction, and Galaxy Fox is positioned as a serious contender in this space.

This best upcoming ICO distinguishes itself as a full utility coin, drawing inspiration from successful meme coins like Dogecoin and Shiba Inu, as well as play-to-earn tokens like Axie Infinity. Offering multiple avenues for profit, including token ownership, staking, and participation in a web3 endless runner game, Galaxy Fox is capturing the attention of the crypto community.

Galaxy Fox has reached a milestone of $1M in its presale! Priced at $0.001122 per $GFOX, the presale is already in Stage 3, with over 1.2 billion tokens distributed to early investors. The community is buzzing with anticipation as the next stage looms on the horizon, promising a token price of $0.00132.

Galaxy Fox’s web3 runner game and NFTs

Galaxy Fox introduces a unique play-to-earn dynamic through its web3 runner game, providing players with opportunities to earn $GFOX tokens by showcasing their gaming prowess. Adding an extra layer of strategy, the game incorporates the coolest NFT assets, each with distinctive attributes that influence in-game performance.

Notably, Galaxy Fox plans to unleash a collection of 3,000 unique NFTs throughout its presale. These NFTs are available for minting on the Galaxy Fox website and tradable on OpenSea. They feature unique characters from the Galaxy Fox Ecosystem, adding a touch of collectible excitement to the best upcoming ICO space.

Conclusion

As the crypto community navigates through uncertainties, Galaxy Fox emerges as a good crypto to buy and a secure investment alternative for investors seeking stability and growth potential. With its innovative features, committed community, and ongoing presale, this project offers a fresh perspective on meme coins, blending utility with excitement.

To be part of this exciting journey, explore the Galaxy Fox presale on their website and join the community on Telegram. Galaxy Fox stands as a beacon of resilience and innovation, ready to redefine your crypto experience.

To learn more about $GFOX, visit Galaxy Fox Presale or join the community.

The post Tron (TRX) could suffer after the HTX hack: is this presale a safer bet? appeared first on CoinJournal.

Arbitrum network back to normal after brief outage

Ethereum layer 2 solution Arbitrum had a brief downtime on Friday.
An update showed a surge in inscriptions had contributed to the spike in network traffic and gas fees.
Arbitrum has since “resolved this issue,” with operations back to normal and gas prices steadily recovering.

Arbitrum, a rollup chain on Ethereum, is running normally after a brief downtime on Friday.

The layer 2 Ethereum scaling solution faced a little more than one hour network outage on December 15. An update posted on the official Arbitrum Foundation account on X noted that the outage happened after a surge in inscriptions triggered a stall in the Arbitrum One Sequencer.

Arbitrum operations back to normal

According to details shared with the community, the Arbitrum One Sequencer and Feed stalled approximately at 10:29 AM ET. The technical hitch led to a significant surge in network traffic and inevitably a spike in transaction fees.

The Arbitrum One Sequencer stalled at 10:29 AM ET during a significant surge in network traffic.

We are working to resolve as quickly as possible and will provide a post-mortem as soon as possible.

More details here: https://t.co/NBlzFuPFro

— Arbitrum (💙,🧡) (@arbitrum) December 15, 2023

While the platform has yet to provide a full post-mortem of the temporary outage, initial investigations show that rising inscriptions triggered the Sequencer’s failure. Here’s the team’s initial report.

The Arbitrum One Sequencer is up and running after a temporary outage starting at 10:29 AM EST and resuming at 11:57 AM EST. The team is actively investigating, but we can confirm that a sustained surge of inscriptions triggered the sequencer to stop relaying transactions properly.”

Crypto analyst cygaar noted in a comment on X that its possible people had spammed the layer 2 chain with inscriptions. These overwhelmed the network’s sequencer, creating a huge backlog of transactions and skyrocketing the gas fees.

Summary of the Arbitrum outage and high Ethereum gas prices:

– People are spamming inscription transactions on Arbitrum. These are transactions that submit some hex data on-chain (images and metadata mostly).

– My guess is this overwhelmed the sequencer itself, preventing L2… pic.twitter.com/deJn4yVsT1

— cygaar (@0xCygaar) December 15, 2023

 In a later update, the Arbitrum team said:

Gas prices on Arbitrum One have stabilized and operations are back to normal. We’re continuing to gather more information and will provide a full post-mortem in the coming days.”

The post Arbitrum network back to normal after brief outage appeared first on CoinJournal.

Record-breaking meme coin in presale poses challenge to Shiba Inu and Pepe

Shiba Inu’s Shibarium is set to experience faster and cheaper transactions with the latest hard fork.
Binance loans promotion for PEPE is underway.
The new Rebel Satoshi meme coin has raised over $500,000 in its ongoing presale.

Meme tokens are perhaps the greatest financial experiment of meme culture. In the latest developments, Shiba Inu (SHIB) has initiated an upgrade to its burgeoning Shibarium network. Meanwhile, Pepe (PEPE) users can earn free PEPE tokens in a current promotion from the Binance exchange.

Interestingly, another coin is emerging that may be the best cryptocurrency currently in the meme token market. Read on to learn about the news for Shiba Inu and Pepe, or head to the last section to know about this opportunity.

Shiba Inu’s Shibarium undergoes a hard fork

Shibarium has been one of the strongest points for Shiba Inu in the past few months, producing impressive on-chain metrics. It has processed over 81 million transactions since launching in August 2023.

Like any blockchain, developers can improve the transaction speed, usually achieved with ‘hard forks.’ The Shibarium has undergone such an upgrade dubbed ‘Sepolia,’ bringing a more strategic token-burning mechanism while speeding up transactions and reducing costs.

‘Burning’ remains a frequently used strategy to make SHIB a more valuable crypto to buy. Plans from developers suggest that the process will transition from a manual to an automated system for better efficiency and transparency.

SHIB’s performance isn’t too shabby on the charts. It’s currently worth $0.00000973, close to its monthly high of $0.00001070. Moreover, forecasts imply SHIB will hover in the $0.000010-0.000020 region during 2024.

Current Binance loans promotion allowing users to earn free PEPE 

With Binance as the largest exchange for top crypto coins, Pepe has partnered with the company. It began with developers transferring $500,000 worth of PEPE tokens to the Binance Earn program. 

The purpose is for future PEPE reward campaigns on Binance. The first of these began on December 4, 2023. A current promotion on Binance Loans is underway, which will end on December 31, 2023. The first 800 users who borrow a minimum of 30 USDT with PEPE as collateral will receive about $15 in PEPE (considering the current PEPE price).

On the topic of value, PEPE is presently valued at $0.00000140. Moreover, predictors indicate minimum prices of $0.0000020 and $0.0000040, respectively, for 2024 and 2025.

Let’s end this news about meme coins by looking at the next viral sensation, Rebel Satoshi ($RBLZ).

Rebel Satoshi raises over half a million dollars during presale

Rebel Satoshi is an eccentric rebel-focused meme token gathering rebellious figures to defy the centralized financial status quo. It has the upstanding desire to transfer wealth from the oppressive rich to the low-paid citizens.

Like Pepe, Rebel Satoshi believes it’s poised to achieve a six-figure capitalization in record time. The target is $100 million, which would offer Rebel Satoshi the much-needed financial resources for its revolution. Moreover, it will grab the attention of investors seeking top crypto coins. 

Only a daring few have already seen the vision and joined Rebel Satoshi during its early presale period. This event has raised over $500,000 since the Early Bird Round that began in early November 2023. Participants gain their stake in the platform’s utility token, $RBLZ, fueling a thriving ecosystem of NFTs and staking. Moreover, early adopters can gain governance power and access to insider updates.

$RBLZ is trading for a low $0.018 in Warriors Round 2. However, the developers have graciously provided buyers with a time-limited 20% deposit bonus to boost their holdings. This will go a long way in the expected 38% total gain after the presale since $RBLZ will be worth $0.025.

For the latest updates and more information, be sure to visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram

The post Record-breaking meme coin in presale poses challenge to Shiba Inu and Pepe appeared first on CoinJournal.


Verified by MonsterInsights