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300 Token price, market cap on Coin360 heatmap

300 Token(300)

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1 day agocryptodaily
This Crypto-Based Sports Betting Platform Gives You Cashback on Lost Bets
Traditional sports betting platforms win when their players lose. Betero turns this centralized concept upside down with a DAO-governed sports betting platform that wins when its players win. “We all love to bet, and we all love crypto. Alvaro and I saw the opportunity to create a decentralized sports betting platform that gives back to its players instead of maximizing profits for its owners. A fair platform. And people seem to REALLY love it.”—Frederic Betero raised over $1,000,000 from more than 1,500 contributors in its presale. The community is strong and ever-growing. Now, Betero wants you to be a part of the decentralized future of sports betting. The Sports Betting Industry Is Designed to Rip You Off “Centralized sports betting platforms are strong now, pocketing most profits. Their goal is just to serve their shareholders, not the players. Once there is a feasible alternative for the players, they’ll switch over without a second thought.” —Bruno When you place a bet on a traditional sports betting platform, your bookie doesn’t match it. It just acts as an intermediary that connects bettors against each other, charges a fee for doing so, and takes little risk. What makes this exploitative is that they hide their fee by manipulating the odds. Instead of representing real-world probabilities, the odds are set to balance the betting pools to make as much profit as possible. The usual profit margin is between 5–10% for bets on which team would win a match. Bets on the scoreline of a match have a profit margin greater than 20%, while bets on who would score first climb up to more than 30%. Multiple bets that combine different types of odds, such as the first scorer and winner, are merged and yield even higher margins for the bookie of up to 50%. When Decentralization Meets Sports Betting, Everyone Wins Betero eliminates capitalism’s stranglehold on the betting market and distributes profits back to the players and token holders. It breaks up this margin-based marketplace economy into a decentralized market that rewards the participants. The Betero system calculates the platform’s profit each month and redistributes 25% of it among the players who have a negative betting balance. The integrated DAO allows Betero token (BTE) holders to submit proposals or vote for existing proposals to change the platform’s mechanisms. This includes data providers for the odds, profit redistribution percentages, and supported cryptocurrencies. The Decentralized Future of Sports Betting “Betero will become one of the leading betting platforms. It’s easy to use, and when the crypto market gets even bigger, we’re already here. Each new partnership with a famous athlete helps us gain popularity and with it trust.” —Frederic In its presale, Betero raised over $1,000,000 from more than 1,500 contributors. The total staked value of BTE has since risen to around $3,500,000, with the community’s spirit going strong. Be among the first to invest in the future of sports betting and enjoy: ● Early investment ROI. Get the best token prices before the platform’s launch. ● Yield farming. Betero’s yield farming just opened with APYs of 100–300%! ● Profit-share. BTE token holders automatically join Betero’s profit-sharing system at its launch. In short, Betero is creating a betting platform that aligns the interests of everyone. If the players win, Betero wins, and so do the token holders. The best time to become a BTE holder is right now. Learn more about Betero on the official website and become part of a fair betting future: betero.io. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
DeFi Protocol Ankr Hit By Multi-Million Dollar Exploit
With the crypto industry’s focus on the FTX fiasco, DeFi hackers have been making merry, hitting Ankr, and as per information available, stealing $5 million. Hackers were able to exploit an unlimited minting bug. The DeFi protocol stated it is working with exchanges to mitigate the hack’s impact. Ankr Falls Victim To Exploit Ankr, a BNB Chain-based decentralized finance (DeFi) protocol, has confirmed that it has fallen victim to a multi-million dollar exploit. The attack occurred on the 1st of December and was discovered by on-chain security analyst PeckShield on the 2nd of December. Ankr confirmed the developments shortly after, stating on Twitter that hackers had managed to exploit the aBNB token. They also announced that they were working with exchanges to halt trading of the token in question. “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.” Details Of The Hack According to the available details, the hacker was able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc) thanks to a vulnerability in the smart contract for the token. “Our analysis shows the $aBNBc token contract has an unlimited mint bug. Specifically, while mint() is protected with onlyMinter modifier, there is another function (w/ 0x3b3a5522 func. signature) that completely bypasses the caller verification to have arbitrary mint !!!” PeckShield reported that the hacker had transferred around 900 BNB, worth around $253,000 into Tornado Cash. Additionally, the exploiter also bridged USDC and ETH to the Ethereum blockchain. According to PeckShield, the hacker holds 3000 ETH and around 500,000 USDC. The 20 trillion aBNBc tokens held by the attacker make them the 13th largest holder of the token. The aBNBc token is the reward-bearing token for BNB tokens staked on the Ankr platform. Vulnerabilities In The Smart Contract Code Blockchain security firm Beosin confirmed the source of the exploit, stating that it was likely due to vulnerabilities in the smart contract code, along with compromised private keys. According to Beosin, these vulnerabilities could have emerged from a technical upgrade carried out by Ankr. “@ankr has been exploited. $aBNBc has dropped -99.5%. The hacker minted tons of $aBNBc and made a profit of 5,500 BNB (~$1.6 million). The deployer changed the implementation contract to the vulnerable contract address before the attack (possibly due to private key compromise).” A spokesperson for the security firm stated, “It is possible that the deployer’s private key was exposed in this upgrade, leading to an attacker using deployer privileges to modify the contract.” Binance Investigating The Exploit Binance, in a post on the 2nd of December, confirmed that its team was engaged with Ankr and other related parties and was investigating the matter further. It also added that no Binance user funds were at risk. “We are aware of the attack targeting @ankr’s aBNBc token. Our team is engaged with the relevant parties and @BNBCHAIN to investigate further. This is not an attack against #Binance, and your funds are SAFU on our exchange. This thread will be updated should there be any updates.” ANKR And BNB Price Drops As a result of the developments, both ANKR and BNB saw a considerable drop in price. At the time the news of the exploit broke, the ANKR token dropped around 6.6%, falling to $0.0211. However, it has since recovered and is currently trading at $0.0216. The token is already over 90% down from its all-time high of $0.213. The BNB token also dropped, falling by 3.1%. However, this decline was attributed to a wider decline in the crypto markets. DeFi hacks had shot up drastically over the past couple of months, with October becoming the worst month in DeFi history. Several DeFi protocols, such as the Ethereum Alarm Clock Service, Polygon’s QuickSwap, Mango Markets, and others, fell victim to exploits. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days agocryptodaily
NFT Trading Goes Live On Uniswap
Uniswap Lab’s NFT aggregator platform went live earlier today with a $5 million USDC airdrop to Genie users. Uniswap Announces Aggregator Tool Uniswap finally launched its NFT aggregator platform, where users will be able to conduct NFT trading from across multiple marketplaces. The team announced the launch of its aggregator on Twitter, saying, “NFTs are officially live on Uniswap!! Starting today, you can trade NFTs across major marketplaces to find more listings and better prices. We're also airdropping ~$5M USDC to historical Genie users & offering gas rebates to the first 22,000 buyers.” The company had recently successfully conducted its Series B funding round for new offerings, including the NFT aggregator tool. Better Prices, More Options The aggregator tool will allow Uniswap users to trade digital collectibles across leading NFT marketplaces like OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation, and NFT20. The team has claimed that users will be able to access the widest range of NFTs at the best prices as the Uniswap platform has 35% more listings than any other marketplace. In addition, the platform has claimed that gas fees will be 15% lower than other NFT aggregators thanks to its new open-sourced Universal Router contract. Furthermore, the first 22,000 users of the aggregator will also receive discounts on gas fees. The team has also stated that all the front-end code has been open-sourced, making it the first NFT platform to do so. Genie Holders To Receive Funds The decentralized crypto exchange had previously acquired the NFT marketplace aggregator Genie in June. As per the announcement, the firm will give away funds amounting to $5 million USDC to historical Genie users to welcome them into the Uniswap family. The distribution of these funds will be based on a snapshot taken on April 15 and across two tier of recipients. Wallets that completed more than one transaction before the snapshot will receive $300 worth of USDC, while the wallets that held the Genie:Genesis NFT will receive $1000 worth of USDC. Interoperability Between NFTs And ERC-20 The team also released a more in-depth statement on Twitter, addressing the intention behind building on the interoperability between NFTs and ERC-20 tokens. “NFTs and ERC-20 tokens have largely existed as two separate ecosystems within crypto, but both are essential to growing the digital economy. Launching NFTs on Uniswap is our first step in building more interoperable experiences between the two.” The statement also claimed that the aggregator was built to deliver better prices, faster indexing, safer smart contracts, and efficient execution. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 days agocryptodaily
Utherverse Partners with Tokensoft to Launch IDO for Native Metaverse Token
New York, NY, 30th November, 2022, ChainwireUtherverse, one of the largest metaverse platforms in the world, has signed a partnership agreement with Tokensoft, the leading technology platform for launching digital assets. The deal will facilitate the first and second presale rounds of Uther Coin (UTHX) as part of the token’s initial decentralized offering (IDO). Uther Coin will be the primary token used for transactions throughout the next generation Utherverse Software Platform. Utherverse powers one of the most popular and advanced metaverses ever built. As such, Uther Coin will be needed by everyone accessing the preeminent metaverse. “Tokensoft has proven itself a credible resource for IDOs that delivers on its promises and the recent launch of its Web3-enabled platform makes it one of the strongest performers out there,” said Brian Shuster, founder and CEO of Utherverse. “We are anticipating a tremendous response to Uther Coin from our international community. Utherverse is going to significantly change the metaverse landscape and our coin will likely be a top performer among IDOs as we approach the launch of the Utherverse.” As part of the agreement, a pre-sale of Uther Coin will be made available to buyers outside the United States and Canada beginning December 1. Interested persons should go to https://www.utherverse.io/UTHX to get approved and listed for the sale. Founded in 2017, Tokensoft is a technology platform for creating and managing digital assets, based in Austin, Texas. The Tokensoft platform helps customers comply with applicable regulations internationally to access a global user base. To date, Tokensoft has helped create over $18 billion in market capitalization with projects such as Avalanche, The Graph and Moonbeam. Utherverse is a metaverse platform that enables developers to build interconnected virtual worlds, provides hyper-realistic immersive experiences for consumers and opportunities for companies to market and monetize their products and services. Utherverse generates revenue from custom metaverse building services, sales of NFTs and a variety of business verticals including advertising/marketing, shopping/retail, conferences/conventions, education, dating, lifestyle, entertainment events/performances, VIP experiences and virtual offices. About Utherverse The Utherverse platform was launched in 2005 by internet visionary Brian Shuster. A beta version of the next generation Utherverse platform is expected to launch in early 2023. The platform has served 50 million+ users with 32 billion+ virtual commerce transactions. Utherverse has developed the technology and received more than 40 patents critical toward operating large-scale metaverses. The company is based in British Columbia, Canada. More information can be found online at Utherverse.io For more information please visit/follow us on: Twitter Instagram Facebook LinkedIn Telegram Discord: Utherverse.ioContactSteve HonigThe Honig Company, [email protected]
5 days agocryptopotato
Uniswap Launches NFT Trading, $5 Million Airdrop Available for Claim
Genie users who completed over one trade before April 15, 2022 will get $300 worth of USDC, while those owning a Genie: Genesis NFT - $1,000 in USDC.
7 days agocryptodaily
KNG token IEO, historic campaign by Kanga Exchange
Kanga Exchange is a multifunctional cryptocurrency platform. The core product of the exchange is the spot market, where you can find some of the most popular cryptocurrencies, features and a launchpad. Now, Kanga is going a step further by organizing a spectacular IEO. Exchange plans to raise at least $1 million and conduct a historic buy back of KNG exchange tokens. Kanga Exchange - future of the European market (H2) Polish cryptocurrency exchange stands out on the European market by offering innovative solutions for the blockchain industry. It is a quickly expanding system of FinTech products and services with the objective of enabling the adoption of cryptocurrencies in day-to-day life. Kanga Exchange founders have a long list of accomplishments in the FinTech sector. Cryptocurrency exchange and KNG token are their newest inventions. KNG creators have scheduled a number of significant events for their token in the near future. Maximum quantity of the KNG token is 21 million units, which coincides with the supply limit of Bitcoin. KNG, like many of the well-known exchange tokens including BNB, CRO and KCS, is also a utility token, bringing many functionalities to the community. Most valuable features (H2) Without a doubt, exchange points are Kanga's most significant product. Kanga is the market leader with over 350 locations throughout Europe and beyond. Founders like to emphasize that Poland, Czech Republic, and the United Arab Emirates are just the beginning of their expansion. Kanga has also prepared Kanga Local as an additional cryptocurrency exchange option. With Kanga's peer-to-peer system, which features over 300 real people - Locals, anyone wishing to purchase cryptocurrencies may do so with ease. There are various nations where Kanga Locals can be found, including Poland, Germany, Bulgaria, Norway, Sweden, and more. Visiting this page is the simplest way to contact the nearest Locals. On Kanga Exchange you will find many functionalities. The most important of all is the Launchpad, where users can find the latest public sales, private sales and Initial NFT Offerings (INO). It is worth mentioning that KNG has a unique staking system, as it has a special autotransfer, so that the daily rewards for staking are increased by a bonus that grows every day. The second of the functionalities is staking where the community will find the opportunity to earn passive income on tokens and stablecoins. In addition to the aforementioned, Kanga also includes features such as Dust Sweep and SWAP, which make users' lives much easier. KNG token IEO (H2) Founders of Kanga have planned a lot for the end of November. These events will be monumental for the European cryptocurrency exchange sector. Special KNG token IEO will take place on November 29. Community of the project will be given a unique opportunity to purchase tokens. Developers also created the mechanism to prevent price of the token from being dumped. Important aspect of this IEO is that the funds collected will not be used by the exchange for its own goals or technological development. The amount raised will fully benefit the community that rallies around the exchange and the KNG token. What will happen to the minimum of $1 million raised? The result of this IEO will be a historic for the European cryptocurrency scene BUY BACK. KNG tokens Buy Back (H2) Kanga is the first in Europe to plan a historic buy back of its tokens worth at least $1 million. The entire buy back will be conducted openly and everyone will have the opportunity to watch it live. On the exchange's website you will find a counter of bought back tokens and ten recent transactions. Creators are very committed to carrying out the action in full transparency. Start: 01.12.2022 Duration: 100 days Staking Rewards (H2) As a thank you to the exchange's supporters, the developers of Kanga Exchange plan to distribute half of the tokens collected during the buy back as staking rewards. Holders of KNG tokens will classically receive KNG staking rewards (which are generated from all revenues of the exchange) but for a period of at least a hundred days, rewards will be higher by the daily amount of tokens bought back from the market. It is worth noting that tokens will be bought back daily and half of the purchased tokens will immediately go into the pool for staking rewards. KNG token burn (H2) Exchange wanted its token to be deflationary for a long time. They decided that the ideal option would be to burn half of the bought back tokens. In this way, the project will reduce the number of tokens in circulation, which will directly affect the value of the tokens. The amount of tokens that will be allocated for burning will depend on the market price of the KNG token at the time of the buy back. Creators plan to allocate a minimum of half a million dollars for this purpose. As in the case of staking rewards, half of the tokens collected each day will immediately be burned. KNG Priority Pass (H2) Developers have prepared one more bonus for those staking KNG. Holders have the opportunity to take part in auctions before the IEO to guarantee the purchase of tokens at favorable conditions. With this arrangement, KNG holders who are staking their tokens are rewarded for their loyalty to the project. Auctions started on 26th of November with 6 available packages and will end an hour before actual IEO. IEO details (H2) IEO date: 29.11.2022 at 12:00 p.m. UTC Max investment: 2000 KNG KNG price: 50% of the market price from 26.11. Cliff: Tokens will begin to be released after 365 days. Vesting: Tokens will be released for 100 days, transferred directly to staking accounts of the buyers. Token type: ERC20 Mainnet: Ethereum https://trade.kanga.exchange https://kanga.exchange Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
10 days agocryptopotato
Weekend Watch: Dogecoin Skyrockets 13%, BNB Breaks $300
Bitcoin's dominance continues to suffer as DOGE and BNB have outperformed BTC.
12 days agocryptodaily
El Salvador tables bill for Bitcoin bonds project
The El Salvadoran Minister of the Economy has introduced a bill which will enable the Bukele government to raise $1 billion in order to build out its proposed Bitcoin city. Bitcoin bonds The Bitcoin bonds project, also known as Volcano bonds, was an idea initially introduced by the Bukele government back in 2021. The plan was to use the bonds to raise around $1 billion with which to build a Bitcoin city at the foot of the Colchagua volcano. The hydrothermal energy that is emitted by the volcano would be tapped and used to supply a crypto mining farm. After some delays a 33-page bill has now been submitted by Maria Luisa Hayem Brevé, the Minister of the Economy. The bill will establish a National Digital Assets Commission that will oversee the regulation of all parties involved as well as the public offering process. According to an article on Coin Telegraph, the bill could in fact be approved before Christmas. Obstacles for El Salvador El Salvador made Bitcoin legal tender back in September of 2021, and the country has accumulated around 2,300 bitcoin at a cost of nearly $104 million. However, since that time there have been many obstacles for the Bukele government to overcome. Not least has been bitcoin’s vertiginous drop in price. It has lost around 77% in value since the top in November of last year, and given the contagion from the FTX fall-out, it might well fall even further. World financial bodies such as the IMF have called on El Salvador to reverse its Bitcoin stance, but President Bukele has resisted so far. Be that as it may, the bitcoin price will need to go up if the Central American country is not to default on its debt. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
12 days agocoindesk
Bitcoin Clings to $16K Ahead of Fed Minutes
Bitcoin was steady, around $16,300, as traders anticipated the release of the Federal Reserve meeting minutes later Wednesday.
13 days agocryptodaily
ABBC Foundation Introduces ABBC Trade: New Way for Crypto Investors To Maximize Earnings
ABBC Foundation has just launched a new portal, ABBC Trade, where users who trade their ABBC coins will receive 300% BUSD incentives over the course of 365 days. Notably, these BUSD awards can be withdrawn every 7 days through the Aladdin Pro wallet. Once users have subscribed to an ABBC Trade plan, they can track their weekly BUSD rewards and claim them at any time. The portal allows ABBC holders to trade their coins with a minimum of 100 BUSD and a maximum of 1,000 BUSD per month. After reaching the maximum limit, users must wait a month before trading more ABBC. ABBC Trade users are also eligible for a referral program after they have subscribed to a plan. Through the referral program, users can invite their family and friends to register and subscribe to the ABBC Trade plan. Referrers can immediately receive 7% BUSD rewards based on how much their referees have traded. ABBC Foundation is also considering conducting monthly Bonanza events. With these events, one lucky trader will have the opportunity to double the amount they have traded on an ongoing ABBC Trade plan. Prior to subscribing to any plan within the ABBC Trade portal, users must undergo KYC verification. A scanned copy of the user’s passport or a government-issued photo ID must be submitted together with a selfie holding their passport or photo ID in one hand, and a piece of paper with the current date and “#ABBCCoin” written on the other hand. ABBC Foundation, the global blockchain company, is committed to providing its ever-supportive ABBC community with the latest technological advancements and exciting projects that enable an efficient and convenient cryptocurrency experience. Recently, ABBC announced that their cryptocurrency-based online shopping platform Buyaladdin will be launched globally soon, aiming for a more accessible shopping experience for everyone. The shopping mall will accept payments in Bitcoin (BTC), Ethereum (ETH), and ABBC Coin (ABBC). Moreover, 1 ABBC will be equal to $100 in the Buyaladdin shopping mall. In addition to providing the highest level of ease and security, ABBC Foundation pledges to continually innovate and enhance the services it provides to its users. As an integral part of the broader ABBC ecosystem, ABBC Trade offers users a chance to expand their crypto earnings. More information can be found in the ABBC Trade user manual. About ABBC Foundation ABBC Foundation is a global blockchain company responsible for protecting the best interests of the ABBC Coin. As a hub for blockchain and crypto adoption, the Dubai-based foundation aims to shape the future of payment security with its advanced and phenomenal projects. Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
13 days agocryptopotato
Altcoin Madness: BNB Soars to $300, Litecoin Skyrockets 27% Daily (Market Watch)
Litecoin and Binance Coin have popped up as the biggest gainers today with double-digit price increases.
14 days agocryptodaily
FTX Hacker Dumps ETH On Markets, Price Plummets
Users affected by the FTX collapse now have another major problem to deal with, as it emerged the hacker responsible for the subsequent hack has begun manipulating the price of ETH. As a result of the hacker dumping ETH on the market, the price of the asset fell by over 7% in just a few hours. Hacker Moving Funds The hacker behind the attack on the FTX exchange has started offloading millions of dollars worth of ETH, resulting in a dramatic drop in the price of the cryptocurrency. The hacker had gotten away with nearly $300 million worth of crypto and, at the time of writing, was the 35th largest holder of ETH in the world. Chainalysis broke the news of the stolen funds being on the move again and urged exchanges to be alert in case the hacker tried to cash out. “Funds stolen from FTX are on the move, and exchanges should be on high alert to freeze them if the hacker attempts to cash out.” On Sunday, the hacker moved 50,000 ETH, worth over $59 million, to a new address. The receiving address swapped the ETH for renBTC, a type of BTC that can run on the Ethereum blockchain. After this, the address made separate transfers totaling around $59 million, according to data from Etherscan. According to on-chain researcher ZachXBT, the hacker is using the Ren Bridge to move the renBTC to the Bitcoin blockchain. This is the latest development stemming from the fallout of the FTX exchange that has gripped the cryptocurrency markets. ETH Plummets With the hacker dumping ETH on the market, the cryptocurrency price dropped by nearly 3% in the past 24 hours. On the other hand, Bitcoin was down only by 0.6%. Currently, the price of ETH is down by 3.09%, with the asset trading at $1099. According to available data, the hacker still possesses around 200,735 ETH, worth nearly $236 million at current prices. The hacker’s wallet was first identified by crypto sleuth ZachXBT on the 11th of November. FTX Issues Statement FTX issued a statement urging cryptocurrency exchanges to be on high alert and secure any funds they can, which can be traced back to the hacker. Any funds recovered could be used in the bankruptcy proceedings. FTX tweeted, “Exchanges should be aware that certain funds transferred from FTX Global and related debtors without authorization on 11/11/22 are being transferred to them through intermediate wallets. Exchanges should take all measures to secure these funds to be returned to the bankruptcy estate.” The trades in question came after the hacker sold a host of crypto assets, such as the DAI stablecoin, Synthetix’s SNX, Aave’s AAVE, LINK, and several other assets for ETH on the CowSwap exchange. The largest of these trades was a $48 million swap of DAI for ETH. The Securities and Exchange Commission of the Bahamas also issued a statement on the 12th of November, stating that it was facilitating the withdrawal of Bahamian funds. This led to significant speculation that the flow of funds from FTX on the 11th of November was the handiwork of the Securities and Exchange Commission of the Bahamas. However, this was refuted by ZachXBT, who tweeted, “The first clue that 0x59 was a blackhat and neither Bahamian officials nor FTX team was when 0x59 began selling tokens for ETH, DAI, and BNB and using a variety of bridges so crypto couldn’t be frozen on 11/12.” Ethereum Users Appeal For Help Some Ethereum users have started sending coded messages to the hacker, asking for a share of the stolen funds. One user appealed to the hacker, stating they had lost a significant sum due to the FTX collapse, asking the hacker to reimburse them. The user in question sent multiple small transactions to the hacker’s address in an attempt to catch their attention. Several other Ethereum users tried the same trick to get the hacker’s attention. Whether they were successful or not remains to be seen. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
14 days agocryptodaily
Increased Polkadot Activity Shows Appetite for Decentralization
An uptick in new user accounts on Polkadot has lent weight to the suggestion that the era of centralization in crypto is finally coming to an end. New analysis from Dot Insights shows there has been a big jump in on-chain activity on Polkadot. At the same time, account activity on the network has risen substantially over the past couple of weeks. More specifically, the two increased metrics refer to the number of new and active accounts on Polkadot, which have soared despite the turmoil afflicting the wider cryptocurrency market. Polkadot’s increased activity comes against the backdrop of the spectacular collapse of FTX, a highly centralized cryptocurrency exchange that, according to some, was the second-largest in the world based on its trading volume. Its collapse saw thousands of investors lose whatever funds they held on the exchange, and as bankruptcy proceedings begin it’s not clear if those users will be able to recoup their losses. Centralized exchanges like FTX grew rapidly in recent years because they provided consumers with a simple onramp to crypto. However, as recent history has shown, many of those centralized exchanges disregarded consumer protections in pursuit of profitability, resulting in numerous meltdowns that have dragged on the industry. Consumers are learning of the risks of centralization the hard way. FTX wasn’t the first, as anyone who held funds on Mt. Gox can testify. And it won’t be the last either - already, several other exchanges have come under pressure following FTX’s collapse, including BlockFi and Gemini. The inevitable conclusion to be drawn is that centralized platforms pose a significant risk to crypto investors, and it’s time for the community to reject them for something better. The community should take note that crypto was never about getting rich quick, as so many investors in the space seem to believe. Rather, crypto is about true individual ownership and self-sovereignty of our finances. It’s an alternative system of finance where individuals hold the keys to their own wallets, and can trade, borrow and lend without a centralized intermediary. The vision of Bitcoin founder Satoshi Nakamoto was to give people a way to take back control of their finances, in response to the 2008 financial crash. He or she created Bitcoin as a response to the truism that power corrupts - if someone controls your money, they’ll likely end up abusing that trust. This is evident in crypto, with centralized exchanges that misuse customer’s funds and dig themselves into a bottomless pit. The only viable path forward is to embrace the true spirit of decentralization. Crypto must be controlled by its users, with no more reliance on corrupt exchanges that are no different from Wall Street’s bankers. The good news is that the crypto community is taking note. In the last two weeks, the number of daily new accounts on Polkadot grew by almost 10 times. In the same period, the number of active accounts increased four times. Dot Insights, a project that monitors the Polkadot and Kusama ecosystems, said the number of active accounts on Polkadot increased from 1,000 to 4,516 in the last two weeks, amounting to a 300% increase. 2/ The number of daily new accounts on Polkadot has SURGED by nearly 10 times in the past 2 weeks alone, while active accounts have increased 4 times! https://t.co/bbHPRVPGcz — Polkadot (@Polkadot) November 14, 2022 That people are turning to Polkadot in times of turmoil is no surprise, as Polkadot has always been among the fiercest of advocates for decentralization. The spike in new daily accounts and active users began just as news of FTX’s problems began hitting the headlines, and accelerated as the true scale of the disaster became apparent. So Polkadot’s growth in activity can be directly attributed to the liquidity that flowed out of FTX - as people withdrew their money from that platform, they looked for a safer haven, and there’s nothing safer than your own, non–custodial wallet. When times are tough, it seems that investors realize that their tokens are safer in their own possession. Many crypto influencers also urged their followers to withdraw their funds from exchanges and put them into cold storage. Polkadot’s increased activity shows that the crypto world is ready for decentralization. Decentralized trading platforms provide big benefits over their centralized brethren. There’s a lack of counter-party risk, transparency and on-chain settlement. It’s impossible for any decentralized platform to take risks with customer’s funds, because they never actually see those funds. A properly implemented DeFi-based economy will therefore serve everyone equally, with consumer protection encoded within its very foundation. There’s still work to be done. One of the biggest challenges is the need for a solution to avoid people losing their private keys, and therefore access to their funds. However, advances in multi-party cryptography and social guardians can solve this conundrum, allowing DeFi users to say goodbye to the days of seed phrases for good and finally take back control of what is rightfully theirs. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
14 days agocryptodaily
Five Web3 Thought Leaders You Need to Start Following in 2023
The internet has come a long way since software engineer Tim Berners-Lee pioneered the World Wide Web in 1991. But if today’s Web3 evangelists are to be believed, there’s plenty of race left to run. In fact, these forward-thinking technologists have a vision of the internet that completely transforms the medium, turning a largely centralized web into an interconnected lattice of decentralized software protocols. According to its proponents, this natural evolution of the internet will be fairer and more democratic; a domain where users exercise control over their own identity and data, rather than the familiar Big Tech overlords. A place where transactions are private, permissionless and secure by default, and where communities of like-minded people can flourish. Make no mistake, there are thousands of talented people working to advance the latest iteration of the internet, from product designers and cryptographers to computer scientists and consensus engineers. For our money though, the following bright minds should be on your radar if you want to better acquaint yourself with the weird and wonderful world of Web3. Sam Bacha (Manifold) Sam Bacha is the big brain behind Manifold Finance, a multi-protocol middleware solution that helps users leverage Miner Extractable Value (MEV) to profitable effect. In a previous life Bacha was a financial analyst at Amazon, an experience that doubtless motivated him to exit Bezos’ Death Star and cross to the decentralized side of the street. After a stint as an MEV researcher, he has turned Manifold into a veritable Web3 powerhouse, one that gives traders the ability to privatize their transactions into a layer-2 scaling solution. With privacy likely to be a key battleground in Web3, Bacha is a force for good. Charles Read (Rarestone Capital) As a founding partner of serial Web3 investment firm Rarestone Capital, Charles Read has helped dozens of promising startups get off the ground, from blockchain-powered games like Galaxy Fight Club and Solice to DeFi index platform Pollen. An avid gamer turned crypto investor/NFT collector, Read is one of the best-connected names in the industry, regularly featuring at conferences and acting as a close advisor to high-net-worth individuals. The 29-year-old is currently working on a podcast and trailing a documentary crew around Dubai, where he recently participated in the 2022 Crypto Fight Night. Sandeep Nailwal (Polygon) Sandeep Nailwal is the co-founder of Ethereum scaling platform Polygon, whose software stack includes a privacy-focused Rollup (Nightfall) and a self-sovereign identity solution (Polygon ID). This year, the Indian entrepreneur and software developer raised $50m for a new venture fund, Symbolic Capital, which is dedicated to bootstrapping early-stage Web3 ventures. Given the preponderance of Polygon-based dApps that now exist, as well as Nailwal’s almost fanatical commitment to unlocking Web3’s potential, he was a lock for this shortlist. Alex Gedevani (Delphi Digital) Alex Gedevani has had a productive last two years, working his way up from Research Analyst to Ventures Associate at prolific investment and consulting firm Delphi Digital. In earning his stripes as a researcher during DeFi summer and beyond, Gedevani became an indispensable asset for the New York firm, as well as those who had the sense to follow his musings on social media, where he has posted an exhaustive list of over 250 projects across multiple NFT verticals. “It's time to pay attention to the building blocks that will set the foundation for the next wave of users,” says Alex. Amen. Matthew Gould (Unstoppable Domains) Unstoppable Domains is an Ethereum startup that creates NFT domains which serve as a user’s cryptocurrency address, login to the decentralized web, and universal username. Big boss Matthew Gould has been instrumental to the company’s success, with the serial entrepreneur having overseen 300+ integrations and 2.4 million domains registered since 2018. In July of this year, the fast-growing domain name provider reached unicorn status with a valuation of $1 billion. In building a vital piece of Web3 infrastructure, Gould is destined to be at the very heart of Web3 over the coming years. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
15 days agocoindesk
New FTX CEO Paid $1,300 an Hour, Court Filings Show
Non-executive directors hired in the wake of the crypto exchange’s collapse are earning $50,000 a month – but the fees may pale in comparison to the overall costs of corporate restructuring.
17 days agocryptopotato
SBF Cashed Out $300M Following $420M FTX Fundraiser in 2021: Report
The former exchange CEO said at the time the money was to cover personal expenses when he bought Binance's stake.
17 days agocoindesk
Sam Bankman-Fried Cashed Out $300M in Previous Funding Round: WSJ
In a previously undisclosed detail, most of the $420 million raised in October 2021 went directly to Bankman-Fried, the Journal reported.
18 days agocryptopotato
Here’s How Much Justin Bieber Is Down on his NFT Investment
The renowned singer Justin Bieber sits on an unrealized loss of more than $1.2 million due to his investment in Bored Ape #3001.
19 days agocoindesk
Temasek Prepares to Write Off as Much as $300M Invested in FTX: Bloomberg
Singapore's state investment fund Temasek is preparing to write off between $200 million and $300 million which it invested in bankrupt crypto exchange FTX, Bloomberg reported Wednesday.
20 days agocryptosrus
Trezor reports 300% surge in sales revenue due to FTX contagion
Amid growing concerns over centralized cryptocurrency exchanges in the wake of the FTX crisis, investors are increasingly moving to hardware crypto wallets. A major hardware wallet provider, Trezor, has recorded a major uptick in wallet sales in the aftermath of the FTX contagion. Trezor saw its sales revenue surge 300% week-on-week and it’s still growing, […] The post Trezor reports 300% surge in sales revenue due to FTX contagion appeared first on CryptosRus.
21 day agocointelegraph
Trezor reports 300% surge in sales revenue due to FTX contagion
The hardware wallet firm is certain that the latest uptick in demand is a result of investors rescuing their funds in the aftermath of the FTX failure.

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