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0.00001704 BTC
Market Cap (Rank#172)
8,003 BTC
Vol 24h
260.82 BTC
Circulating Supply
Max Supply
10h agocryptodaily
Brazilian Payment App PicPay Launched Crypto Exchange in Collaboration with Paxos
PicPay, a Brazilian-based payment and wallet app is now providing crypto services to more than 30 million active users in the country. The company announced that it was planning to roll out this service last month and now allows its customers to buy, hold and sell digital assets from its platform. PicPay will offer these services in partnership with Paxos. The Brazil-based payment app announced that it now allows users to purchase, sell and hold cryptocurrencies on its platform. PicPay launched its cryptocurrency exchange service, and in its first iteration will be supporting the trading of Ethereum and Bitcoin as well as the dollar-backed stablecoin USDP. The company has said that it plans to list more than 100 cryptocurrencies. The exchange is operated with the help of Paxos, a blockchain infrastructure company and issuer of stablecoin USDP. Paxos is regulated by the New York Department of Financial Services and will manage trading and custody of assets for PicPay. Paxos is one of the market’s biggest crypto exchanges and has a reputation for partnering with some of the world’s most famous traditional financial firms such as Venmo and PayPal. Bruno Gregory, head of cryptocurrencies at PicPay said, Our goal is to lead the growth of the crypto market, by eliminating the complexity that is still associated with it and expanding information on the technology, so that everyone can take advantage of this asset class and technology. PicPay Looks For Domination in the Market Wanting to go over and beyond for its user base, PicPay is looking to offer average Brazilians crypto investments. The firm is also looking at a service that will allow crypto users to make payments directly with cryptocurrencies, removing the hassle of having to exchange assets for fiat currency first. In a similar vein, the system will liquidate cryptocurrencies for merchants receiving cryptos thereby protecting them from market volatility and allowing them to store stable assets. PicPay has said that it plans to launch its own Brazilian real-pegged stablecoin. 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.
1 day agocointelegraph
Huobi co-founder reportedly looks to sell majority stake valued at over $1B
Huobi co-founder Leon Li reportedly informed about his decision to other backers of the company in a July shareholders meeting.
1 day agocryptodaily
Bitfinex May Face Criminal Investigations in U.S.
The sister company of stablecoin Tether, crypto exchange Bitfinex, is facing the possibility of criminal investigations in the United States according to the Department of Justice (DOJ) in a reply to a Freedom of Information Act (FOIA) request shared on Twitter earlier this week. Bitfinex has for a long time been under scrutiny for its actions, and if reports are to be believed, it will be subject to investigations yet again. The DOJ has since denied a request for information regarding Tether Holdings Limited, its parent company iFinex Inc. and other subsidiaries, including Bitfinex, citing Exemption 7(A) of the FOAI Guide. The exemption precludes the disclosure of: Records or information compiled for law enforcement purposes, but only to the extent that production of such law enforcement records or information ... could reasonably be expected to interfere with enforcement proceedings. The individual who filed the request in February 2022 is Twitter user oleh86, and according to it, the request itself asked: Dear Sirs, Pursuant to Freedom of Information Act (FOIA), 5 U.S.C. § 552, I am hereby requesting any and all information in the possession of the US Department of Justice on jointly and severally TETHER HOLDINGS LIMITED, TETHER LIMITED, TETHER INTERNATIONAL LIMITED, TETHER OPERATIONS LIMITED, IFINEX INC., BFXNA INC., and BFXWW INC. The denial of the request read as follows: Looks like #Bitfinex is in legal proceedings in the US - the DOJ denied my FOIA request on grounds of Section b(7)(A) aimed at preventing pretrial publicity that could impair a court proceeding. The exemption essentially prevents the public from getting information about the legal enforcement of the company. It is done to ensure that people with information do not try and tamper with evidence or try anything that would unduly influence the proceedings. Bitfinex’s Legal Woes Bitfinex and sister company Tether has been facing heavy scrutiny from legal entities for a long time. In 2021, Bitfinex and Tether had to pay $42.5 million in fines to the U.S. Commodity Futures Trading Commission (CFTC) in civil monetary penalties. Bitfinex has also faced multiple investigations from civil and criminal entities in the U.S. regarding whether stablecoin issues Tether, was being truthful about the state of its reserves. 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.
1 day agocryptodaily
FrontFanz- the Polygon Web3 Subscription Platform Ready to List Their Token
The new censorless Polygon Web3 subscription content platform, FrontFanz, has had an ambitious roadmap ahead of them from the start. Ever since they came out from the shadows, FrontFanz’s popularity has been steadily growing. Not only that, but FrontFanz has also launched successful sales that ended up being one triumph after the other. The most recent sale was a public IEO sale that latest for 20 days and hit sold-outs every day. And now, to further expand the acquisition of FrontFanz native token FANZ, the platform will list its token on ExMarkets on the 15th of August. About FrontFanz FrontFanz is a Web3 subscription content platform that encourages content creators to express themselves freely without any fear of one-sided censorship. One of the main goals for FrontFanz was to become independent from third parties and their involvement in the payment process – that’s why the platform was built on the Polygon blockchain. This decentralized blockchain is well-known for acting as the second layer of Ethereum-based blockchains. It’s kind of like a middleman that helps Ethereum handle new projects by offering dedicated tools to increase speed and reduce transaction fees to a minimum. No more censorship, delayed payments, unfair chargebacks, or even denied payments due to third-party involvement. FrontFanz’s founders, Rosey Sin and Stacey Carlaa, two inspiring women with decades of industry experience, made sure that their platform provides a safe and efficient space for creators to grow. About ExMarkets ExMarkets is a next-generation crypto crowdfunding platform that focuses on delivering the tools needed for crypto projects to achieve success. It’s the world’s #1 crypto crowdfunding platform that harnesses the power of the community to deliver capital solutions to promising crypto initiatives. ExMarkets offers a wide range of services offered, including an IEO launchpad, token listing, and market-making services, staking, ambassadorships and partnerships with leading figures in the industry, and open staking pools. FrontFanz Native Token FANZ FrontFanz has a deflationary token, FANZ, which is listed on the Polygon blockchain. The FANZ token has many utilities, such as: Voting Power In-Platform Purchases Staking Platform-Wide Discounts Access to FrontFanz MarketPlace Nodes also mean passive income. The more FANZ tokens are staked, the more rewards users will receive. Here’s what the transactional fee breakdown looks like: 20% burnt; 30% FrontFanz; 50% to user validating transactions. FANZ on ExMarkets – What to Expect? ExMarkets helps various projects to kick-start and kick-off to new heights. As it harnesses the power of the community, ExMarkets offers a wide range of solutions for scaling one's projects. By listing FANZ on ExMarkets, FrontFanz will make it easier for everyone to access its token. This will also pave the way for many other benefits, such as the ability to trade anytime, as well as buy and sell freely and with all control. The FANZ token will be listed on the 15th of August. It’s an exciting development that will surely aid FrontFanz in reaching new audiences and growing as a content subscription platform that truly caters to all content creators. Be sure to check FrontFanz handles for more news! Twitter | Instagram | Telegram | FrontFanz on ExMarkets 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
2 days agocointelegraph
Indian law enforcement accuses WazirX exchange of aiding in laundering of $130M
India’s Enforcement Directorate, which investigates financial crime, has frozen WazirX bank accounts while it looks at transfers from instant loan companies to international wallets.
2 days agonulltx
Top 3 Metaverse Crypto Coins Below $50 Million to Watch in August 2022
Cryptocurrency markets are showing significant upside this week as Bitcoin and Ethereum prices manage to break past their monthly highs. Metaverse crypto coins also capitalize on the positive market momentum, with many showing double-digit percent price increases. This article looks at NullTX’s pick of the top three Metaverse crypto coins with a market cap below […] The post Top 3 Metaverse Crypto Coins Below $50 Million to Watch in August 2022 appeared first on NullTX.
2 days agocryptodaily
Ethereum Final Step Towards Mainnet PoS As Goerli Testnet Merge Goes Live
Ethereum has successfully pulled off one of the most critical tests in crypto history, as it completed the final scheduled test before the merge, moving it closer to the adoption of the Proof-of-Stake model, an upgrade that it has been working towards for years. The upgrade has been touted as one of the most critical events in crypto history. A Final Dress Rehearsal Since its creation nearly a decade ago, Ethereum has been using the much-criticized Proof-of-Work consensus mechanism, involving miners competing with one another to solve complex problems and validate transactions. The problem with this approach is that it is highly energy-intensive, significantly impacting the environment. However, the smart contract platform has been working towards the Proof-of-Stake consensus mechanism, which would see the phasing out of energy-intensive mining. Instead, the new method would see validators stake their ETH and earn the right to validate transactions. Proof-of-Stake requires far less energy and is expected to significantly scale up transactions on Ethereum significantly. According to reports, the final test took place on Wednesday, 9:45 PM ET. a researcher with the Ethereum Foundation, Ansgar Dietrichs, described the test as successful, stating in a tweet that the most relevant metric for success in a dry run such as this is looking at the time to finalization. Another associate from Galaxy Digital stated that while the participation rate after the merge dropped, it could have been down to an issue with one of the clients. However, overall, the merge was a success. “A successful Merge = chain finalizes. Sure, the participation rate dropped, and it looks like there may have been an issue with one of the clients, but the Merge worked. We’ll likely see minor issues like this with the upgrade on mainnet too, but the point is, the Merge worked.” Merge To Go Live In September? While the timing of the merge will be discussed at length at a meeting of core Ethereum developers slated for Thursday. However, previous meetings and guidance have indicated that the Merge could go live as early as mid-September. Ethereum’s transition to Proof-of-Stake has seen repeated delays over the past few years. Core developers have admitted that progress has been slow to allow sufficient development, research, and implementation time. A Successful Test The Georli testnet, on Wednesday, simulated a process identical to what the main network will execute when it transitions into Proof-of-Stake. Testnets such as Georli allow developers on Ethereum to test out new upgrades and make any changes needed before implementing them on the main blockchain. Wednesday’s test showed that moving to Proof-of-Stake and its validation process significantly reduces energy consumption and also proves that the merge process is working. Josef Je, a developer who has previously worked with the Ethereum Foundation and now runs a permissionless peer-to-peer lending platform, stated that the Proof-of-Stake running on Georli will be identical to how Proof-of-Stake would run on the blockchain. The Ethereum Foundation shared the same sentiment, stating that Georli is the closest iteration to the mainnet and will play a critical role in smart contract interactions. Looking For Potential Bugs Tim Beiko stated that during tests, they know almost instantly if a trial run is successful or not. However, in this case, the developers at Ethereum will continue to keep an eye out for any potential issues that could crop up in the days ahead. Beiko stated, “We want to see the network finalizing and having a high participation rate amongst validators and also make sure we don’t hit any unexpected bugs or issues.” According to Beiko, tracking the participation rate is the easiest metric to gauge success. If the developer numbers dwindle during the test, it could signal an issue. He also stated that they could also look at Ethereum transactions and gauge the success of a test, stating that if the blocks have actual transactions in them, then the test is considered a success. The last major check, according to Beiko, is to check if the network is finalizing. “If those three things look good, then there’s a long list of secondary stuff to check, but at that point, things are going well.” A New Proof-of-Stake Proposal Developers at Ethereum have been testing Proof-of-Stake on a parallel chain called the Beacon Chain. According to Beiko, the original proposal required validators to stake 1500 ETH to use the system. However, the new Proof-of-Stake proposal sees this number drastically reduced to just 32 ETH. Beiko stated that while this isn’t a small sum, it is a much more accessible figure for users. 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
El Salvador President Credits Bitcoin For Tourism Spike
President Nayib Bukele has been gushing about the effects of the country’s Bitcoin policies on its tourism industry. El Salvador’s Bitcoin-Tourism Despite the ongoing bear market, it looks like El Salvador’s Bitcoin-favorable policies have attracted a thriving crypto-tourism culture. According to a report by the UN World Tourism Organization on the world’s best-performing destinations by earnings, international tourist arrivals to El Salvador between January through May of 2022 have grown by 6%. The report also estimated that the numbers indicate that the international arrivals will bounce back to pre-pandemic levels by the end of the year. President Bukele retweeted the information, also adding, “Only a handful of countries have been able to recover its tourism to pre pandemic levels. And that’s international tourism, so the reasons behind it are mostly Bitcoin and surf.” The report also points out the challenges that countries like El Salvador will face due to the growing industry. Especially since the aftermath of the pandemic has resulted in staff shortages, airport congestion, flight delays, and cancellations, which could affect the positive numbers. Bitcoin Beach Main Attraction One of the main pulls of the tourism industry of El Salvador was its Bitcoin Beach, which has gained global popularity. International visitors have flocked to the country to visit Bitcoin Beach in a new genre of travel called “crypto tourism.” According to the country’s Minister of Tourism, adopting Bitcoin as legal currency in the country has resulted in a 30% growth in tourism. In an interview in April, Valdez said, “El Salvador has become a good place to visit, invest and live. With the use of Bitcoin, tourism has increased by 30%. Tourists interested in the implementation of Bitcoin have a longer stay and spend more. Before Bitcoin there was a daily spend of $113 to $150, now it is up to $200 a day.” El Salvador’s Early-Mover Advantage Bukele also supported his tweets with further data from the Google Mobility Report, which showed that the country has been receiving higher volumes of footfalls in places of retail and recreation, grocery stores, pharmacies, and parks, over the last three months. President Bukele’s decision to adopt BTC as legal tender was questioned worldwide, with many leading institutions claiming that the country’s economy was doomed. However, the President’s stance has always been unwavering, and rightfully so, as the data indicates. Furthermore, the country’s Finance Minister, Alejandro Zelaya, has revealed that its commitment to BTC is paying off, as its financial inclusion plans have attracted international visitors. Consequently, the government is hopeful that new Bitcoin investments will continue to bring more visitors to the country. 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
WIN NFT HERO to Bring Engaging Gaming Experience with New Features and Rewards
Singapore, Singapore, 9th August, 2022, ChainwireWIN NFT HERO strives to bring an exceptional play-to-earn (P2E) gaming experience to users in the GameFi space with new features and rewards. P2E has been the latest trend in GameFi since last year. However, during recent months, GameFi appeared to have taken a dip in the polls due to most blockchain games putting too much emphasis on “earning.” Because earnings aren’t guaranteed, it began to deter players from an all-around good gaming experience. Yet, since GameFi is still generally considered the entry into the metaverse, investor confidence in the industry hasn’t deteriorated too much over short-term market swings. As GameFi is embracing a new stage of development, TRON's blockchain game WIN NFT HERO looks set to take the lead and bring a next-level P2E gaming experience. Built on the TRON blockchain, WIN NFT HERO is a "GameFi+NFT" turn-based strategy game where users fully own their in-game NFT assets, such as heroes and equipment. Allowing players to win various in-game assets for free and trade them in the official marketplace, the game is dedicated to building a "free-to-play" TRON metaverse. The hero NFTs consist of five elements: quality, attribute, class, skill, and bond. Although each hero has their position, both short-range tanks and long-range attackers are indispensable in winning combats. Moreover, heroes of the same class or gene form bonds, which substantially boosts the squad's performance in combat. To perform better in combat, players must create strategic plans in advance: select different heroes, arrange their positions, choose the appropriate equipment, and build bonds. As for the gameplay, WIN NFT HERO now offers four modes: Adventure, ALLSTAR, Dungeon, and Mission. Exciting rewards are available in each mode, allowing users to enjoy P2E fun in explorations and combats. Moreover, as the metaverse is continuously being perfected, WIN NFT HERO will introduce more game modes to meet users' demands. WIN NFT HERO is currently embarking on a new round of closed testing alongside testing events offering generous rewards. As the game progresses to a new milestone, more rewards for early birds will be released. Stay tuned for more details in the coming weeks. About WIN NFT HERO WIN NFT HERO is a “GameFi + NFT” 3D cartoon-style turn-based strategy game launching soon. WIN NFT HERO is designed to allow the exchange of various heroes and equipment on the market to acquire strong spells and skills, which players can then use to win battle rewards. WIN NFT HERO | Twitter | Telegram | Discord ContactsBilly [email protected]
5 days agocryptodaily
What Makes a DeFi Platform Credible?
Despite being around for several years, the DeFi space is still a mystery to many. New investors often wonder what makes one DeFi platform more credible than another one and what makes them credible in the first place. That’s exactly what we’re going to explain in this article. However, to help you understand how legitimacy works in the DeFi sphere, we have to look at what CeFi credibility looks like. Read on. What Makes CeFi Platforms Credible? Suppose you want to use the services of a platform based on traditional and centralized finance. What would you do to check if the service is the right choice for you? The most likely scenario is that you would check for official certification and reviews from other people, including industry professionals. So here’s a list that we all need to pay attention to when it comes to checking the credibility of a CeFi platform. Overall reputation — First of all, we need to see what other people are saying about the platform. If a bank doesn’t have a good reputation and many agree on this, we will think twice about using its services. User and professional rating — There are many sites where users can rank businesses, including various CeFi products and services. Checking their overall ranking, including rankings from industry professionals, always pays off in the end. Official certifications from official regulatory bodies — Finance is highly regulated in all countries around the globe. Audits from independent companies — You need to check if the service is audited and, thereby, trustworthy. Security and history of security breaches — Like it or not, many platforms are under cyberattacks all the time, but some of them fend off the attackers much better than others. DeFi Works a Bit Differently DeFi adds another layer of credibility and trustworthiness, which is hard-coded in the underlying structure of DeFi protocols. Most of them are based on blockchain technology, which, by itself, is already credible and trusted by people around the world. Simply put, blockchain adds a layer of security that is next to impossible to breach. Decentralized services aren’t operated by a single entity but rather by a community, which makes them even more trustworthy. But the real question is: is that enough? Even if they’re built on the blockchain, these DeFi protocols can still have some flaws that may be exploited by individuals or organizations that are part of them. Therefore, in addition to just trusting blockchain to do its part, we also need to check for other things as well. Under “other things,” we mostly mean certificates and licenses. As the DeFi space is getting recognized in jurisdictions around the globe, many committees have been created to ensure the maximum security and trustworthiness of DeFi projects. On top of that, auditing companies and organizations nowadays also specialize in checking DeFi projects, ensuring they’re not doing anything illicit. A DeFi project called Aurigami has been audited three times and has a clean record, which means it’s safe to use its services or even invest in it. That’s especially relevant for platforms such as Aurigami, which is an online crypto protocol for lending, borrowing, and earning interest. Decentralized protocols are created to be community-operated, and that’s why we also cannot exclude the aspect of people reviewing DeFi protocols. Therefore, it’s always a good idea to check what other people are saying about the DeFi service you want to start using. Final Thoughts: DeFi Platforms Will Always Have an Additional Layer of Credibility The DeFi space is expanding rapidly, and millions of people are already using many DeFi protocols, as they consider them more useful and, after all, more credible. Whenever we want to check the credibility of a DeFi service, we need to pay attention to all aspects that we would usually check in a platform based on traditional finance, including audits, security, certificates, and more. If all of these boxes are checked, we can always enjoy the additional layer added by the distributed ledger technology, which makes DeFi protocols even more credible and secure. After all, that’s one of the primary reasons why an increasing number of people are turning away from centralized and towards decentralized finance. 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
8 days agocryptodaily
Brevan Howard Pulls Off Largest Crypto Fund Launch
Brevan Howard Asset Management firm had raised over $1 billion to launch its flagship crypto vehicle. BH Digital Raises $1B Acting as Brevan Howard’s dedicated crypto arm, BH Digital helps investors such as sovereign wealth funds, pension funds, foundations, and endowments gain exposure to crypto. According to four different sources with knowledge of the matter, the investment firm has raised around $1 billion from institutional investors. Most of these funds were raised during BH Digital’s launch earlier this year. The BH Digital Multi-Strategy Fund officially started trading in early January 2022. The team involved was visualizing a fundraise in the year's second quarter, with expectations that the efforts would bring in at least several hundred million dollars. The team was also hoping for billion-dollar funding. According to anonymous sources, “Brevan is making an absolutely massive push into crypto…With their network already, they’re going to do a great job of cross-selling. They’re going to have a massive raise in the second half of this year.” If the recent reports are to be believed, it looks like BH Digital achieved that vision, thus pulling off the largest crypto fund launch. The capital raised is exemplary even for conventional and non-crypto hedge funds. It is an even bigger achievement in the digital assets market, which has a much lower market capitalization. High Performing Funds Despite Bear Market BH Digital is also outperforming its competition. According to reports, it has managed to limit its losses to a minor 4-5% since its launch through the end of June. Despite the domino effect that stemmed from the Terra LUNA implosion and took down multiple crypto lenders, BH Digital has managed to rake in returns that are apparently quite remarkable for the bear market. The firm is still holding off on fully deploying the entire capital amount, especially since the market is not liquid enough to support $1 billion. However, one of the sources has suggested that a “plain vanilla” approach that includes long-only and trend-following tactics could work. The fund’s $1.5 billion initial capacity could rise soon with more investment professionals coming on board and implementing fresh strategies. However, the badge of honor of the largest crypto fund raised to date still belongs to venture capital giant Andreessen Horowitz (a16z). The investment firm raised a whopping $4.5 billion in its fourth round, smack dab in the middle of the bear market in May 2022. $1.5 billion of these funds will be allocated towards Web3 seed investments. 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.
9 days agocryptosrus
Here’s What’s Next for Bitcoin (BTC), Solana (SOL) and Three Under-the-Radar Altcoins: Top Crypto Trader
Covered: Altcoin Sherpa Predictions $BTC $SOL $OP $LOOKS Altcoin Sherpa Predictions The pseudonymous crypto analyst Altcoin Sherpa remains largely bearish about the market despite the general price uptick last week. The trader tells his 180,700 Twitter followers that $22,000 is a “must hold” level for Bitcoin (BTC). “The last high, although technically higher, is not […] The post Here’s What’s Next for Bitcoin (BTC), Solana (SOL) and Three Under-the-Radar Altcoins: Top Crypto Trader appeared first on CryptosRus.
9 days agocoindesk
Miner Tomorrow Crypto Looks to Go Public Through SPAC Merger
Tomorrow Crypto, a bitcoin and ether mining company, has proposed a merger with Nasdaq-listed blank cheque firm Globalink Investment (GLII).
10 days agocryptodaily
Solana Wallets Compromised In Multimillion-Dollar Hack
2022 looks set to be one of the worst years for the crypto markets, which were already dealing with significant bear market sentiment. Now news has emerged that several hackers have targeted the Solana ecosystem, and losses are nearing the billion-dollar mark. Thousands of users have reported that their funds have been drained from their hot wallets without their knowledge. An Unprecedented Attack Thousands of users took to Twitter to report their SOL being stolen from connected hot wallets such as Phantom, Slope, and TrustWallet. With the attack still ongoing, details remain sketchy, but over 8000 wallets have been compromised, according to data sourced from blockchain auditors OtterSec. Several Solana addresses have been linked to the ongoing attack, with the wallets in question amassing millions worth of SOL, SPL, and other Solana-based tokens drained from unsuspecting wallets. “UPDATE: Over 8,000 #Solana wallets have fallen victim to the ongoing hack, with more increasing by the minute.” Details Remain Sketchy The exact cause of the attack remains unknown at present, although community members are scrambling to trace the source of the attack. However, what is clear is that the attack seems to have impacted mobile wallet users the most, with the attacker somehow managing to sign transactions on behalf of users and wallet owners. This suggests that there could be a third-party service that could have been compromised in a supply-chain attack. The private-key exploit resulted in the hacker stealing native SOL and SPL tokens from hot wallets, most of which had been inactive for more than six months, with Phantom and Slope wallet users being hit the hardest. Twitter user foobar shed some light on the methodology used by the attackers, stating that while the cause of the exploit was unknown, it could be the result of an upstream dependency supply chain attack. He also stated that revoking prior approvals would not help ensure the security of the funds, adding that the only viable option was moving funds to an offline wallet. However, if a hardware wallet is not an option, users can also shift their assets to a reliable centralized exchange for the time being. Solana Community Reacts The attack will undoubtedly reignite the debate around hot wallets and their security. Hot wallets are connected to the internet at all times, and while this does ensure some convenience, allowing users to send, receive, and store crypto with ease, it is also susceptible to attacks. Cold wallets, which are offline and must be connected to a device to carry out transactions, are considered much more secure. While the concerned parties are looking into the exploit, worried users reached out to wallet providers for an update and clarity on the source of the attack. Phantom did provide users an update on Twitter, stating that it was working to figure out the cause of the attack. “We are working closely with other teams to get to the bottom of a reported vulnerability in the Solana ecosystem. At this time, the team does not believe this is a Phantom-specific issue. As soon as we gather more information, we will issue an update.” Other community members speculated that the exploit could be related to Magic Eden’s Solana-based NFT marketplace, although this link remained doubtful as the attack continued. So far, Magic Eden has not commented on the situation but did tweet out a warning, advising users to revoke permissions from the wallet and move assets to a cold wallet. “There seems to be a widespread SOL exploit at play that’s draining wallets throughout the ecosystem Here’s what you can do right now to best protect yourself 1. Go to >Settings on your @phantom wallet 2. >Trusted Apps 3. >Revoke Permissions for any suspicious links.” In a later tweet, it added that it was looking into the exploit to determine its cause. Solana Price Feels The Pressure Currently, the primary discourse across crypto Twitter remains around mitigating the damage from the exploit, with experts urging users to transfer their assets to a cold wallet. Solana’s price has also dropped significantly over the past few hours and is down considerably. While the price has recovered from its initial slump, it could drop again as the attack plays out. A History Of Outages The Solana ecosystem has had a torrid 2022, with regular outages plaguing the “Ethereum Killer.” In January, Solana crashed for a staggering 48 hours, forcing users to liquidate their holdings and fulfill their loan obligations. The outage was caused due to bots spamming the network, leading to significant congestion on the network, which led to the outage. As a result, DeFi users were unable to top up their loan collateral, forcing them to liquidate their holdings. 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.
11 days agocryptodaily
Binance To Launch SBT For Wallet KYC
The crypto exchange has launched its first soulbound or non-transferable and non-financialized token, the Binance Account Bound (BAB). Binance’s New KYC Efforts The Binance crypto exchange will be amping up its identity verification efforts with the BAB Soulbound Token, which is built on the firm’s native build and build (BNB) chain. The token will act as a decentralized solution to the KYC requirements of the exchange. Owning a BAB token will verify a user’s status on the exchange. It would also facilitate certain third-party protocols. Therefore as of now, the BAB ownership is available for customers who want to go the SBT route for their KYC check as an opt-in feature on the Binance mobile app. Once Binance's KYC process has confirmed a user’s identity, they can directly mint the token onto their digital wallets. Customers who want to stick to the more traditional pathways of KYC can still opt to do so. As of now, owning a BAB token would simply indicate the KYC check; however, Binance might increase its functionalities and use-cases in the future. SBT As NFTs A fresh new Web3 concept introduced earlier this year, Soulbound tokens like BAB, are basically non-transferrable NFTs. Since these tokens can not be transferred, traded, or sold, they function perfectly as a wallet identifier as each is unique to the specific wallet holder on the blockchain. Furthermore, the Soulbound NFT can also store certain data about the wallet’s activities, like interacting with a dApp or smart contract. Binance CEO Changepeng Zhao (CZ) has spoken about the decision to launch the SBT, saying, “Soulbound Tokens will play a significant role in the way web3 credentials will work in a Decentralized Society… We foresee numerous use cases for the BAB token, and we will actively collaborate with the community to develop this revolutionary vision of decentralized society.” Unlocking The ‘Utility’ BAB will be the first soulbound token released on the BNB chain. The industry has been talking about pushing through all the hype over NFTs and discovering more constructive and long-term use cases. The NFT community is coming to terms with the need to uncover a true value proposition for non-fungibility. Is Soulbound Token the solution to that requirement? Looks like the Binance team believes so. The exchange has recently had a string of successes and has been delving into alternative token use in the space. 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.
17 days agocointelegraph
Ethereum Classic gets 'endorsement' from Vitalik Buterin, but ETC price still risks 50% crash
ETC's ongoing price rebound looks eerily similar to a bull trap event from 2021.
19 days agocointelegraph
Bitcoin drops below $21.8K realized price as FOMC spooks markets
Anticipated volatility comes right on schedule for crypto as the weekly close already looks like a distant memory.
25 days agocointelegraph
Bitcoin price holds $23.5K, leading bulls to say ‘it’s different this time’
Traders expect BTC price to venture into the $27,000 to $32,000 range now that Bitcoin looks to secure a daily close above its current range.
26 days agocointelegraph
Sub-$22K Bitcoin looks juicy when compared to gold’s market capitalization
BTC’s market cap is way smaller than gold's, but the percentage of Bitcoin held by institutional investors suggests that the current pricing reflects an excellent discount.
27 days agocointelegraph
Ethereum traders gauge fakeout risks after 40% ETH price rally
Ether price could drop by 45% because its ascending triangle breakout looks unconvincing so far.
28 days agocryptosrus
Massive Short Squeeze for Bitcoin in Sight? Top Quant Analyst Looks at the State of BTC
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About LooksRare

The live price of LooksRare (LOOKS) today is 0.419546 USD, and with the current circulating supply of LooksRare at 469,539,051.88 LOOKS, its market capitalization stands at 196,993,027 USD. In the last 24 hours LOOKS price has moved 0.009133 USD or 0.02% while 6,491,920 USD worth of LOOKS has been traded on various exchanges. The current valuation of LOOKS puts it at #172 in cryptocurrency rankings based on market capitalization.

Learn more about the LooksRare blockchain network and how it works or follow the price of its native cryptocurrency LOOKS and the broader market with our unique COIN360 cryptocurrency heatmap.

LooksRare Price0.419546 USD
Market Rank#172
Market Cap196,993,027 USD
24h Volume6,420,254 USD
Circulating Supply469,539,051.88 LOOKS
Max Supply1,000,000,000 LOOKS
Yesterday's Market Cap193,242,110 USD
Yesterday's Open / Close0.402424 USD / 0.411557 USD
Yesterday's High / Low0.441563 USD / 0.399911 USD
Yesterday's Change
0.02% ( 0.009133 USD )
Yesterday's Volume6,491,919.50 USD
Powered by  Cryptocurrency prices in USD, market cap, volume
Sorry, no liquidity for this pair
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