21 December, 2021
Cryptos In Action
Hello there I’m Sage, great to have your company on Kalkine TV and this is The Daily Crypto Catch
brought to you by Crossgate Capital. Let’s now catch up
on the past 24 hours from the crypto space!
Users of a marketplace for game item NFTs were victims of crypto scam on Tuesday
when it was revealed that a link sent through the project’s official Discord
channel was a scam set up to steal crypto.
Those who followed the link and connected their crypto wallets found
that their holdings of Solana (SOL) cryptocurrency has been stolen.
The value of the stolen Solana is estimated to be around US$150,000.
The marketplace, called Fractal, specialises in the buying and selling of NFT
and quickly cultivated a following of more than 100,000 users through Discord — making
it a target for the kind of scammers that have plagued NFT projects since the beginning.
Following the hack, a blog post from Fractal declared victims who had lost money would be
fully compensated. However, while apologising, the blog post also appeared to put some of the
responsibility onto followers of the project telling users there’s no ‘undo button’ in crypto.
Source
And now let’s take a short break and we’ll be back
with news in the altcoin space as well as today’s biggest winners and losers. Stay tuned.
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Welcome back to Crypto Catch on Kalkine TV, brought to you by CrossGate Capital – let's
now take a look at the latest news from the crypto world.
On to altcoin news. Ripple’s XRP found strong support on Monday and Tuesday
after a period of decline due to ongoing issues with the Securities Exchange Commission (SEC).
In late 2020, the SEC filed an action against Ripple Labs. The SEC alleges that they raised
over US$1.3 billion through an unregistered, ongoing digital asset securities offering.
However, the complaint alleged Ripple raised funds through the sale of XRP in unregistered security
to investors both in the US and around the world. Ripple is also alleged to
have distributed billions of XRP in exchange
for non-cash consideration, such as labor and market-making services.
The complained resulted in XRP dropping from US$0.78 levels to UD$0.17
levels back in late 2020. Market forces had driven XRP back to US$1.96 levels in April
of this year before sliding back to $0.50 levels.
However, XRP has recently seen greater price stability than its peers.
Following a modest decline of 0.84 percent in the week ending 19th December,
XRP was on the move at the beginning of this week – jumping from US$0.84 on Tuesday
to its current price of US$0.95, according to CoinMarketCap. Source
Source
Moving on to today’s winners and losers.
50th ranked Loopring has climbed 20 percent in the past 24 to hit US$2.40.
Meanwhile, IOTA jumped 19 percent in the same period to reach US$1.28.
Today’s losers. yearn.universe dropped 5.26 percent while Decred dropped 1.90 percent.
ANNNND that’s all today for Crypto Catch. Stay tuned to Kalkine TV for the latest
market updates, business news and exclusive interviews. I’m Sage reporting for Kalkine.