Weekly Market Highlights #24: December 5 - December 11
✨The cryptocurrency market has remained calm over the past 24 hours with unimpressive volumes, which is typical for the weekend.
✨Over the past week, the crypto market decreased ~$28B (from ~$871B to ~$843B) of its total capitalization
✨Bitcoin Stable at $17K
✅According to CoinGecko, Bitcoin's price has been unable to achieve any success above $17K as bears stepped in and pushed it below the coveted mark once again.
✅However, nothing too special. Bitcoin is still trading around ~$17K
✅Market participants can be careful because there's an important announcement from the US Bureau of Labor Statistics on Tuesday. They will release the numbers for November's Consumer Price Index, which is largely used as a metric to gauge the inflation rate in the country. It has so far always had a considerable impact on Bitcoin's price, usually resulting in immediate and massive volatility.
✨Altcoins in Green but Gains Insignificant
✅BSCS is currently trading at ~$0,01047: +1,60% from its 7-day all-time low of $0,0103.
✅The altcoin market has been largely in green throughout the past week, although the increases are not so significant
✅Most of the top altcoins did not have a breakout growth in the past week. The market has been dormant, perhaps in anticipation of tomorrow's release of the Consumer Price Index, together with Sam Bankman-Fried's expected testimony in front of the US Congress.
✨Bitcoin Fear and Greed Index is 27 - Fear, higher than at the beginning of the week (26)
✨Dominance:
✅BTC: 38.7%
✅ETH: 18.2%
BETTER THAN YESTERDAY WITH BSCSTATION #10: Blockchain Attacks You Should Know Part 3
🔥 "Better Than Yesterday With BSCStation" is back with another part of “Blockchain Attacks You Should Know”!
🌸 In the previous article, BSCStation talked about “User Wallet Attacks” and gave out tips to prevent such accidents. Today let’s continue with the “Smart Contract Attacks”.
⚙️ Smart contracts are becoming a well-known term in Blockchain technology, especially in the Decentralized Finance (DeFi) ecosystem. When the openness of smart contract implementation is considered, it becomes apparent to all blockchain users. However, security weaknesses and vulnerabilities may become obvious at times.
🔬 We will define 7 Smart Contracts Attack techniques that can seriously impact a smart contract application. Successful execution of such attacks may lead the smart contract to perform expectedly. Hence, parties associated with the contract agreement might incur a severe loss.
⭕️ Reentrancy
⭕️ Smart Contract Overflow and Underflow
⭕️ Short Address Attack
⭕️ Delegatecall
⭕️ Default Visibilities
⭕️ Transaction Ordering Dependence
⭕️ Timestamp Dependence
👉 Details:
Warner Music, Polygon, and LGND partner to launch Web3 music platform
The platform LGND Music will launch in January 2023 officially.
💎E-commerce and interactive platform builder LGND has announced a multiyear partnership with blockchain network developer Polygon and global entertainment company Warner Music Group to create a Web3 music platform called LGND Music.
🎧LGND Music, scheduled to launch in January 2023, is designed to be a music and collectibles platform that supports “digital collectibles from any blockchain in a proprietary player,” thereby making it possible for users to play their digital collectibles on the go.
🤝The partnership will allow select Warner Music Group artists to launch digital collectibles on both the app and desktop platforms. Creators will also be able to interact with their fanbase via special content and curated experiences. The platform will be built on Polygon and offer lower gas fees and faster transactions.
⭐️LGND Music plans to offer a variety of features, making it possible for music collectors to participate in a decentralized ecosystem based on full ownership of digital assets. According to the company, “users of the platform will also be able to buy and fully own music tokens and easily get started with digital collectibles by building a collection.” It will be easy to use even for users unfamiliar with cryptocurrencies or digital collectibles.
💫The potential for music to integrate within the Web3 ecosystem seems promising, and musicians have for a while been tapping into the power of nonfungible tokens to transform their audiences into loyal communities.
Binance CEO Will Teach About Crypto And The Web3 on MasterClass
🔶Binance announced its partnership with Master Class, an online education platform, to launch a course on cryptocurrencies and blockchain for the “crypto-curious” audience. The class will be led by Binance’s CEO and founder, Changpeng Zhao (CZ), and is a joint effort between entities to build a better ecosystem —and prevent new users from losing their money.
💎The master class, called “Crypto and the Blockchain,” will last for 3 hours and 40 minutes and will provide participants with the opportunity to learn about blockchain technology, Web3, DeFi, DAOs, and more from leading experts in both the crypto and mainstream finance industries. These experts include Changpeng Zhao (CZ), Emilie Choi, President and COO of Coinbase, Chris Dixon, Founder and Managing Partner of a16z Crypto, and Paul Krugman, author, NYT columnist, and Nobel Prize-winning economist.
✔️The master class will cover essential topics on cryptocurrencies that will give newcomers a balanced view of the ecosystem and help them understand the industry’s current state and where it is headed.
Binance Bets on Education To Improve The Crypto Scene
▶️Changpeng Zhao said that as civilization advances, it is necessary to understand new technologies to build business models that would be impossible using the outdated traditional financial system. In the announcement, he said new business models can be built using the novel blockchain technology, which cannot be built using the methods and tools from the legacy financial system.
🔸In addition to the master class, Binance has also announced the launch of six courses and 29 modules through Binance Academy to teach basic knowledge about cryptocurrencies and blockchain. Upon completing the six free courses, users will receive an NFT certificate as proof of learning.
Ethereum Whales Splashing Nearly A Billion Dollars On Fresh ETH Buys
Whales scoop more Ether at discounted prices.
♾According to crypto data analytics firm Santiment, in the past month, Ethereum addresses holding 100 to 1M coins have accumulated back 1.36% of the overall supply (about 1.63M Ether). Accordingly, this cohort added 561,000 Ether worth about $690M between December 5th and 6th.
💎It is important to note that this group owns two-thirds of Ether’s overall supply and has been vital in helping reduce bear pressure from traders exiting positions at best available bounces during this crypto winter.
Exchange Outflows on The Rise
🔹Ethereum exchange balances have also been falling. According to the firm, the supply of Ethereum sitting on exchanges “has fallen massively” in just the past month. According to data from “IntoTheBlock”, Ether outflows in the past seven days totaled $4.78B compared to inflows at $3,92B. It is even more satisfying to see that the 12.1% of ETH on exchanges is now at a 4-year low, further supporting the bullish argument.
📈As of writing, Ether was trading at $1,272 after a 0.49% increase in the past 24 hours, according to CoinMarketCap data.
Starbucks Rolls Out Beta Testing on New Polygon-Powered NFT Rewards Program
☕️US coffee giant Starbucks is launching the beta version of a new rewards program that allows members to earn and buy non-fungible tokens (NFTs) minted on the Polygon (MATIC) blockchain.
✔️In a recent statement, the world's largest coffeehouse chain says that it is rolling out Starbucks Odyssey, a loyalty program for customers, employees, and partners of the firm in the US who signed up to be included in the program's waitlist.
💎Members can participate in a series of interactive activities called 'Journeys.' Once completed, they get rewarded with 'Journey Stamp' NFTs minted on MATIC and Odyssey points that will unlock new benefits and experiences.
▶️As stated by Starbucks executive vice president and chief marketing officer Brady Brewer,
"Our innovative spirit and the desire to continuously exceed our customers' expectations has led to the launch of Starbucks Odyssey. The Starbucks Odyssey journey has begun with the beta launch. We are excited to collaborate with our members and partners, who will help shape the Odyssey experience as we explore together."
✅The Seattle-based company says it sent the first batch of invitations this month and will continue sending more invitations to a wider group starting January 2023.
📣Stay tuned! The market's highlights will be updated by BSCStation 😎
About BSCStation
BSCStation - The fully decentralized protocol for launching new ideas. An all-in-one Incubation Hub with a full-stack Defi platform across all main blockchain networks. We provide exclusive services including IDO/INO Launchpad, Yield farming, NFT Auction, Marketplace, and BSCSwap
BSCStation operates on top of the all main blockchain networks and is designed to offer maximum value to consumers and institutions.
BSCStation platform uses the Sharing Economy Model for the purpose of profit-sharing, helping users to access DeFi platforms in the easiest, safest, and most cost-effective way. BSCStation is the most convenient bridge to connect users and application products on all main blockchain networks.