February 8 comes alive with partnership and networking news from key projects like Chiliz and Algorand. Global partnership news had a direct impact on the price. In this article, he compiled the altcoin news of the day.
Altcoin whales pile up ADA, TVL doubles
Cardano’s (ADA) whale operations have seen a significant increase this year, according to a recent report by Santiment. The Cardano DeFi ecosystem has doubled this year, from $48.95 million on January 1 to $108.63 million. Santiment data released on February 3 shows that the Cardano network has 105 transactions in excess of $100,000. This is the highest number since FTX crashed in November 2022.
The total value of assets locked in the Cardano ecosystem (TVL) has more than doubled so far this year, rising from $48.95 million on January 1 to $108.63 million, according to DeFillama data. TVL’s rise coincided with the launch of Cardano’s over-collateralized stablecoin Djed. cryptocoin.comWe have included the details of Djed in this article.
This altcoin floats ahead of massive token unlock
The Sandbox (SAND) network will unlock 372.6 million SAND tokens on February 13, corresponding to 12,419% of the circulating supply. The news came amid a 30% price increase caused by the announcement of a “mysterious partnership” with Saudi Arabia. According to Glassnode data, a significant amount of SAND tokens (around 82 million) were moved to various exchanges after the two announcements. Other projects that will unlock their tokens this year can be found here.
ChatGPT.ens domain name sells for over $10,000
A ChatGPT ENS domain sold for roughly $10,000 against 6 Wrapped Ethereum (WETH) on February 7, according to OpenSea data. The domain is currently available to several ENS domains and Bored Ape, Otherdeeds, etc. owned by Ishmilly, which owns other important blue-chip NFTs such as
SHIB token burn rate peaked by 10.109%
According to Shiba Inu token burn follower Shibburn, a total of 20,929,491 SHIBs have been burned in the last 24 hours. Token burns were contributed by 4 transactions to reduce the circulating supply of Shiba Inu tokens. Specifically, a wallet that sent 19,400,000 Shiba Inu (SHIB) to the Crypto.com token burn address caused total SHIB burns to increase by 10,109% over the past 24 hours.
The anticipated launch of Shiba Inu’s Layer-2 Blockchain solution, Shibarium, has been a major contributor to SHIB burns over the past few days. Shibarium is expected to be released this month. Shibarium will burn SHIB on every transaction.
https://twitter.com/shibburn/status/162314867109347330
Chiliz launches Layer 1 Blockchain
According to a February 8 blog post, Chiliz has confirmed the new layer-1 blockchain formation block. The EVM-Compatible Blockchain will allow token holders to allocate (delegate) their tokens to receive rewards.
EVM compatible layer-1 Blockchain; NFTs will focus on Play2Earn games, Watch2Earn sporting events and live event ticket payments.
CHZ price skyrocketed
The CHZ token gained 20% after the news. At the time of writing, he keeps his earnings around 7%.
This altcoin will drive Web3 adoption in India through key partnerships
In another development, Algorand (ALGO) has partnered with various educational institutions and schools to create programs for India’s faculty, students and businesses looking to transition to Web3.
The Algorand Foundation has announced several partnerships in India, including collaborations with schools to develop educational programs to help grow Web3. The Algorand team said it has partnered with Jawaharlal Nehru University of Technology Hyderabad and India Business School to launch training programs. Additionally, the firm will host a master class for businesses looking to dive into the Web3 space. Meanwhile, ALGO price is surging more than 5% in the middle of the news.
Arthur Hayes buys this NFT-focused altcoin project
Popular trader and BitMEX founder Arthur Hayes has become the largest individual owner of the LOOKS token, with 17 million LOOKS equivalent to $5.14 million. Hayes purchased 10.68 million LOOKS from August 24, 2022 to November 3, 2022 at an average price of $0.258, with a total cost of 1,786 ETH ($2.76 million).
1/ Arthur Hayes (@CryptoHayes) is currently the largest individual holding address of $LOOKS, holding 17M $LOOKS ($5.14M).https://t.co/YKyINyarvS pic.twitter.com/e0Hun5Ds4J
— Lookonchain (@lookonchain) February 8, 2023
Hackers launder $4M in Ethereum (ETH)
A recent report shows that Lazarus Group actively laundered ETH stolen in June last year. According to a recent tweet by blockchain tracker PeckShieldAlert, in the past two days notorious North Korean hackers called Lazarus Group have been busy laundering cryptocurrencies. These funds are part of the Ethereum (ETH) they stole during Harmony’s Horizon bridge back in June of last year.
The FBI has released an official statement following its statement about Lazarus (aka APT38), a group of North Korean hackers who, in the last week of January, exploited the Horizon Bridge and reportedly stole nearly $100 million in Ethereum.
#PeckShieldAlert North Korea’s Lazarus Group (credit to ZachXBT) is actively laundering at least $4M worth of $ETH from the Harmony's Horizon Bridge exploit via the peel chain layering process within the last 2 days #FBIhttps://t.co/eu4dXntqRw pic.twitter.com/asuVW5927G
— PeckShieldAlert (@PeckShieldAlert) February 8, 2023
