Crypto Hebdo: from the sensational return of Luna Classic to the launch of FIFA NFT

Less than 15 days before the biggest crypto event of this year, the week has been quite a delicate one on the markets. Overall, the macro economy continues to weigh on cryptocurrency prices. Terra Classic and the LUNC token return from the realm of the dead. FTX will not acquire Huobi. Crypto.com is wrong over $ 10 million. The merger will in fact affect DeFi and stablecoins as FIFA launches its own NFT collection.

LUNC: A living dead nearby

Since his token was hit by the spiral of death, the LUNC returns to the fore with an increase of more than 70% despite an ultra bearish week for the cryptocurrency industry. This cryptocurrency, considered by many to be a stalled token, scored one of the best performances of the week.

This rise, which could be described as sudden, was fueled by a variety of information, as the paper’s technical analysis expert Valdrin Tahiri explained. First of all, there is the burning of the token by ecosystem validators and which risks being adopted by exchanges. Next, the TA expert discusses the exchanges that will carry out the new network update. Analyzing the price action, Tahiri indicates that the crossing of a key resistance on August 23 marked the start of a bullish move.

However, the expert predicts that LUNC will face strong resistance around the $ 0.00042 area.

To find out more, read the following article:

👉: What is causing the sudden surge in Terra’s dropped LUNC token?

FTX is not a buyer in the Huobi case

In search of almost all the good moves, it’s no wonder that FTX was automatically linked to buying Huobi. Indeed, the alleged acquisition of Huobi by the Sam Bankman Fried exchange came about after the founder of the Chinese cryptocurrency exchange, Leon Li, announced his desire to sell his majority stake in the company.

Who else would buy Leon Li’s stock if not SBF, the best buyer of the moment? This conclusion turned out to be incorrect because the SBF itself denied this information on his Twitter account. He stated in particular:

“Just to be clear, as many say otherwise: no, we have no plans to acquire Huobi.”

To find out more, read the following article:

👉: FTX will not acquire Huobi

This case has somewhat agitated the crypto world, questioning the good faith of exchanges in compliance with the principle of irreversibility of the blockchain. So what happened? When it issued a refund to one of its customers in May 2021, the cryptocurrency exchange inadvertently sent an amount greater than $ 10 million instead of the amount owed ($ 100).

Crypto.com, which only realized this very late, took legal action to recover the funds. However, it turns out that the client in question, a certain Thevamanogari, has already spent part of the amount (1.35 million) to acquire a villa in Craigieburn, Australia. The rest of the loot has been transferred to other accounts. The judge handling the case has already ordered the purchased house to be sold as a refund to Crypto.com.

The real problem with this case: If the customer made a mistake by sending funds to the wrong address, would the exchange be so determined to get the user back?

To find out more, read the following article:

👉: Crypto.com makes a 10 million dollar mistake

The merger will impact DeFi and stablecoin

Experts are starting to worry about the risks Merge poses to DeFi and stablecoins. Please note that “The Merge” or “La Fusion” is Ethereum’s passage from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) consensus mechanism. Ethereum hosts most of the stablecoins and decentralized financial applications in the cryptocurrency sphere.

The problem lies in whether stalbecoin and dApp and whether they will remain on the network after the merger, when we know that PoS protocols are not as secure as those using PoW. Apparently, the Proof of Stake mechanism remains very vulnerable to ” 51% attack As for Ethereum, it turns out the network isn’t as decentralized as it looks What he said expert Maggie Love:

“Ethereum cannot be decentralized if staking is not decentralized … Where is the dialogue on that? 69% of the nodes are hosted on the Ethereum Mainnet, of which over 50% come from Amazon Web Services (AWS), over 15% from Hetzner and 4.1% from OVH ”.

To find out more, read the following article:

👉: Ethereum: The Merge, the risks to DeFi and the impact of stablecoins

FIFA will have its NFT collection like the NBA

The governing body of world football has announced on its official website that it will launch an NFT collection called FIFA Collect +. It is in fact a series of collectibles (art, videos and photos) that will recall the most beautiful moments in the history of football. With the World Cup approaching, it wouldn’t be surprising if the collection had so much “caption”Of this competition.

We also learn that FIFA Collect + will be developed under the Algorand blockchain and made available by the end of September on the FIFA + platform. Algorand’s CEO congratulated FIFA on the initiative and said:

“FIFA’s commitment to move to Web3 through Algorand demonstrates its spirit of innovation and its desire to engage directly and seamlessly with football fans around the world.”

To find out more, read the following article:

👉: FIFA will launch NFT collectibles under the Algorand blockchain

More news from the corridor

  • According to a study, crypto gaming is flooded with bots, with an impressive proportion of registered accounts.
  • While the vasil hard fork is scheduled for September 22, the hugely popular American stock broker Robinhood has added Cardano (ADA) to its trading platform.
  • Crypto.com bankrupted UEFA by canceling a $ 495 million five-year contract
  • Axie’s NFT sale does not exceed $ 10 million for the fourth consecutive month. A sign that the bubble of non-fungible tokens has really exploded.
  • Bitcoin evangelist Michaël Saylor, former CEO of MicroStrategy, has been sued for tax evasion.

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