Gravity(GZRO)

Today, offshore firms dominate the list of the biggest cryptocurrency exchanges. Expect the center of gravity to come onshore going forward, says Paul Brody, head of blockchain at EY.

Shiba SHIB has charted some notable loss in the past weeks and has continued to appear weak by the day. It recently initiated a drop, but the gravity is yet unknown if the price will go through or not. Despite a series of lower highs in the past weeks, Shiba […]

Aptos released over $200 million worth APT tokens, constituting 8.9% of its circulating supply today.

ShuttleFlow will change ownership to be operated and developed by Zero Gravity.

As bitcoin pushes 12% during Asia trading, there are parallels to the first Gold ETF and beyond, say, industry stakeholders and analysts.

Base project RocketSwap has shared an emergency plan with users as it looks to recover from a brute force hack that saw the protocol lose around 471 ETH, valued at around $865,000, on the 14th of August. The team behind the project also plans on reaching out to the hacker. The Emergency Plan The team at RocketSwap explained in a post on X on the 15th of August, stating that they planned to redeploy a new farm contract, following which it would be open-sourced on-chain. The team stated that they would also be relinquishing mining rights, mostly of RCKT, and also reach out to the hackers in an attempt to negotiate a return of the stolen assets, This approach was taken by Curve, and several other decentralized protocols following the Curve exploit. “The emergency programme agreed upon by the team is as follows. We plan to redeploy a new farm contract by dropping the proxy contract and open-sourcing it on-chain. The new farm will advance the production reduction plan by 0.075 per block. The team relinquishes minting rights and retains only low-risk rights to allocate new pools. Locked initial liquidity and 80k tokens will be extended for 1 year. The team will continue to roll out LaunchPad, with further updates planned. Telegram groups will be reopened after stabilization. Call on hackers to return assets to victims.” The RocketSwap Hack On the 14th of April, a hacker managed to steal around 471 ETH, bridging it from Base to Ethereum. The activity was flagged by blockchain security firm PeckShield. The hacker then created 90 trillion LoveRCKT tokens before transferring them to Uniswap, along with 400 of the 471 ETH initially stolen. PeckShield detailed the hack in a post on X, stating, “#PeckShieldAlert The @RocketSwap_Labs exploiter has grabbed ~471 $ETH and bridged them from #Base to #Ethereum, and then created the token $LoveRCKT, the exploiter already supplied 90T $LoveRCKT and 400 $ETH to #Uniswap.” RocketSwap eventually confirmed the news on the same day, with PeckShield and another blockchain security firm, CertiK, providing additional details about the hack a few hours later. The attack was attributed to a brute force attack on RocketSwap’s server, with the protocol stating, “As a result of the team’s investigation, We are sorry to inform you that the team needed to use offline signatures when deploying the launchpad and put the private keys on the server. A brute force hack of the server was detected, and due to the proxy contract used for the farm contract, there were multiple high-risk permissions that led to the transfer of the farm’s assets. We shut down the farm to prevent further damage. The team is currently working on an emergency plan, and the Telegram group has been banned for the time being. The loss of farm assets is only a concern, DEX is not affected in any way.” Growing Headaches On Base Coinbase’s layer-2 blockchain Base has faced several issues since commencing operations. LeetSwap, a leading decentralized exchange on the Base blockchain, suspended trading operations after flagging a security vulnerability in their factory, leading to the suspicion of compromised pool liquidity. The pause was done so that the team could investigate the issue further. PeckShield reported that around 340 ETH was exploited from liquidity pairs on Base, showing the gravity of the prevailing situation. Prior to the pause in trading by LeetSwap, the BALD memecoin suffered a significant drop in value. The crash occurred after the token’s developer withdrew 6800 ETH, valued at around $12.5 million, from the liquidity pools on LeetSwap, raising several eyebrows and compounding the list of issues faced by LeetSwap. Furthermore, Coinbase is also dealing with its own set of regulatory challenges after finding itself as a target of the United States Securities and Exchange Commission (SEC). The Securities and Exchange Commission has ordered Coinbase to stop all crypto trading, except for that of Bitcoin. When Coinbase questioned the decision made by the regulatory body, Coinbase filed a lawsuit against the exchange. 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.

Base project RocketSwap has shared an emergency plan with users as it looks to recover from a brute force hack that saw the protocol lose around 471 ETH, valued at around $865,000, on the 14th of August. The team behind the project also plans on reaching out to the hacker. The Emergency Plan The team at RocketSwap explained in a post on X on the 15th of August, stating that they planned to redeploy a new farm contract, following which it would be open-sourced on-chain. The team stated that they would also be relinquishing mining rights, mostly of RCKT, and also reach out to the hackers in an attempt to negotiate a return of the stolen assets, This approach was taken by Curve, and several other decentralized protocols following the Curve exploit. “The emergency programme agreed upon by the team is as follows. We plan to redeploy a new farm contract by dropping the proxy contract and open-sourcing it on-chain. The new farm will advance the production reduction plan by 0.075 per block. The team relinquishes minting rights and retains only low-risk rights to allocate new pools. Locked initial liquidity and 80k tokens will be extended for 1 year. The team will continue to roll out LaunchPad, with further updates planned. Telegram groups will be reopened after stabilization. Call on hackers to return assets to victims.” The RocketSwap Hack On the 14th of April, a hacker managed to steal around 471 ETH, bridging it from Base to Ethereum. The activity was flagged by blockchain security firm PeckShield. The hacker then created 90 trillion LoveRCKT tokens before transferring them to Uniswap, along with 400 of the 471 ETH initially stolen. PeckShield detailed the hack in a post on X, stating, “#PeckShieldAlert The @RocketSwap_Labs exploiter has grabbed ~471 $ETH and bridged them from #Base to #Ethereum, and then created the token $LoveRCKT, the exploiter already supplied 90T $LoveRCKT and 400 $ETH to #Uniswap.” RocketSwap eventually confirmed the news on the same day, with PeckShield and another blockchain security firm, CertiK, providing additional details about the hack a few hours later. The attack was attributed to a brute force attack on RocketSwap’s server, with the protocol stating, “As a result of the team’s investigation, We are sorry to inform you that the team needed to use offline signatures when deploying the launchpad and put the private keys on the server. A brute force hack of the server was detected, and due to the proxy contract used for the farm contract, there were multiple high-risk permissions that led to the transfer of the farm’s assets. We shut down the farm to prevent further damage. The team is currently working on an emergency plan, and the Telegram group has been banned for the time being. The loss of farm assets is only a concern, DEX is not affected in any way.” Growing Headaches On Base Coinbase’s layer-2 blockchain Base has faced several issues since commencing operations. LeetSwap, a leading decentralized exchange on the Base blockchain, suspended trading operations after flagging a security vulnerability in their factory, leading to the suspicion of compromised pool liquidity. The pause was done so that the team could investigate the issue further. PeckShield reported that around 340 ETH was exploited from liquidity pairs on Base, showing the gravity of the prevailing situation. Prior to the pause in trading by LeetSwap, the BALD memecoin suffered a significant drop in value. The crash occurred after the token’s developer withdrew 6800 ETH, valued at around $12.5 million, from the liquidity pools on LeetSwap, raising several eyebrows and compounding the list of issues faced by LeetSwap. Furthermore, Coinbase is also dealing with its own set of regulatory challenges after finding itself as a target of the United States Securities and Exchange Commission (SEC). The Securities and Exchange Commission has ordered Coinbase to stop all crypto trading, except for that of Bitcoin. When Coinbase questioned the decision made by the regulatory body, Coinbase filed a lawsuit against the exchange. 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.

As bitcoin continues to trade sideways in a range, the next sharp move is not far from happening. Becalmed, but not for long Bitcoin looks to be reasonably comfortable as it sits on support at around $30,000. Not the heights of over $31,000 and a chance at breaking resistance, but a respectable sideways price action that could break soon. In fact, it’s only 5 days since bitcoin made a new high for the year, when it rose to $31,500 and looked as though it might break the strongest resistance it’s likely to meet in this bull market. Strong support below However, gravity took its toll and bitcoin has returned back down to $30,000. Should this break further to the downside, there is very strong support at around $29,300 and then down to $28,800. After that there is massive support at $25,000 which would also be bolstered by the 200 MA, plus the upward trendline that started at the beginning of the year. Dark economic clouds gather Things are still incredibly uncertain from an economic perspective. The lower inflation sequence could be about to be broken in the US, while remaining very persistent worldwide, particularly in countries in Europe and especially in the UK. On the horizon in August there is the BRICS summit, where a new rival reserve currency to the dollar could potentially be announced. The lack of decent Western mainstream coverage of such an earth-shattering economic event does not bode well for proper preparation from the West. Housing crises are also drawing near in many Western countries. UK mortgage holders are getting to the end of their fixed rate mortgages and will need to renegotiate them, facing a potential rise of at least 300% on their current payments. In addition, when the Summer comes to an end and Winter begins to demand vastly higher energy bills, an entry into recession will have been all but assured. Bitcoin about to prove its worth How bitcoin will perform in such an economic quagmire is really the million dollar question. So far it hasn’t become that inflation hedge that all were hoping for, but this could change. Money printing in the West is likely to start getting ramped up again as these economies desperately fight to get themselves through the Winter. Bitcoin, the scarcest asset in the world, and out of the reach of government manipulation, will have the chance to prove that it is a haven of safety. Those able to buy bitcoin, gold, or silver may want to do so before fiat debasement makes it so much more difficult. 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.

China's only regulatory-compliant public blockchain, Conflux, has submitted a proposal to deploy Uniswap v3 on its network, following the expiration of the Uniswap v3 code license. This move aims to bring the popular decentralized exchange to the Chinese and broader Asian markets, tapping into a new user base and taking advantage of the region's robust growth in the crypto industry. Conflux has experienced substantial growth in the first quarter of 2023, with its market capitalization nearing $1 billion and a total value locked on-chain of $45 million. The proposal emphasizes China's dominant position in the global blockchain landscape, as 84% of blockchain applications worldwide are submitted in the country, compared to 11% in the United Kingdom and 14% in the United States. The deployment of Uniswap v3 on Conflux would benefit from the mature Web3 market in China, which has seen a surge in interest and adoption in recent years. Blockchain technology and cryptocurrencies have become increasingly popular in the region, with a growing number of projects and companies exploring various use cases and applications. At the same time, regulatory crackdowns in the United States and Europe are pushing more crypto companies to seek opportunities in Asian markets. Hong Kong, in particular, has emerged as a preferred destination, with over 80 crypto firms planning to establish offices there. This strategic positioning provides a bridge to mainland China and facilitates the growth of the crypto industry in the region. Ambre Soubiran, CEO of institutional crypto market data provider Kaiko, believes that Hong Kong's more favorable regulations, combined with the United States' increasingly stringent stance on crypto, will shift the center of gravity for crypto assets trading and investments towards Hong Kong. To encourage projects to build on Uniswap v3 using the Conflux Network, the proposal outlines several incentives. These include the creation of $2 million worth of liquidity pools for $CFX token trading pairs such as CFX-USDT, CFX-BTC, and CFX-ETH. The pools will be locked for two years, ensuring stability and support for these trading pairs. The Conflux Foundation will also provide an additional $1 million in "liquidity incentives" to further encourage adoption and development. The Conflux Network, a layer-1 blockchain that employs a hybrid proof-of-work and proof-of-stake mechanism, has also recently announced a partnership with China Telecom. The collaboration aims to develop a blockchain SIM (BSIM) card, which will offer users a secure location to store digital private keys. The stored signature can be used to transfer money to other users, while a "one-click direct check" feature will enable users to access transaction information and status progress in real time. By deploying Uniswap v3 on Conflux, the popular decentralized exchange could tap into the thriving Chinese market and cater to a rapidly growing user base in the region. This expansion would not only benefit Uniswap v3 but also further solidify Conflux's position as a leading blockchain network in China. As the Conflux Network and Uniswap v3 continue to make strides in the crypto industry, their collaboration could prove to be a game-changer for the Chinese and broader Asian markets, fostering greater innovation and adoption of Web3 technologies. 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.

Kaiko CEO Ambre Soubiran said that Hong Kong’s friendly approach might make the city the “center of gravity” for cryptocurrency trading and investments.