Weekly Top Crypto News (July 24 – July 30)

The idea that US macroeconomic data has little influence on the crypto market was reinforced this week when Bitcoin stayed flat despite the Fed continuing to boost interest rates. Another highlight of the last week was the Worldcoin (WLD) launch event, which aims to identify users by scanning irises and then airdrop tokens. There are also a number of fresh updates from important projects and industry names, as well as connected legal action. Here, let’s review this week’s top crypto news with Coincu!

Worldcoin Token Launch Led By OpenAI CEO Sam Altman

The cryptocurrency community is buzzing with anticipation as Worldcoin, a new token co-founded by none other than Sam Altman, the CEO of OpenAI, is all set to make its debut on Monday. According to insiders familiar with the matter, the Worldcoin token is generating a lot of interest and excitement ahead of its official launch.

Worldcoin Announced WLD Tokenomics With 143 Million In Circulation

Worldcoin (WLD) reveals tokenomics with 75% community distribution, emphasizing wide token dispersal to unique human identities. Worldcoin’s mission focuses on building a public utility for the largest identity and financial network powered by World ID and WLD tokens. WLD’s fixed supply cap for 15 years, governance-controlled inflation after, and privacy-preserving identity network highlight Worldcoin’s innovative approach to cryptocurrency.

UK Data Watchdog To Investigate Worldcoin Crypto Project Over Privacy Concerns

The UK’s data regulator, the Information Commissioner’s Office (ICO), is launching an investigation into Worldcoin, a crypto project led by OpenAI CEO Sam Altman, which offers free cryptocurrency in exchange for users’ iris scans.

Litecoin Halving, But LTC Only Rose 30%

Litecoin is expected to be halved on August 3, 2023, less than a week, with about 3,574 blocks remaining. After the halving, the Litecoin block reward will be reduced from 12.5 LTC to 6.25 LTC. BTC has risen by 78% since the beginning of the year; despite Litecoin Halving, LTC only rose 30%.

Dogecoin Rises 8% After Elon Musk’s Promotion Of DogeDesigner Video

The price of Dogecoin (DOGE) surged more than 8% in the past 24 hours after receiving momentum from avid fan Elon Musk. Musk retweeted a video tweet related to the new Logo X on Twitter shared by DogeDesigner. Earlier, the Twitter boss said he wanted to remove the bird icon on Twitter and replace it with an “X”.

Metamask Integrates Linea L2 Network For Cost-Effective Deposits

Metamask now integrates the Linea L2 network, developed by ConsenSys, to enhance user experience and transaction efficiency. Linea L2 aims to provide a more cost-effective and efficient environment for dApps and transactions, and its integration with Metamask is expected to drive greater adoption. Within just a week of launch, Linea ETH Bridge saw over 11,000 ETHs deposited, demonstrating confidence in the platform and its potential to lower transaction costs and alleviate congestion on the Ethereum mainnet.

PancakeSwap v3 Launches on zksync Era!

PancakeSwap v3 on Zksync Era: exciting new features and benefits for DeFi users, including lightning-fast transaction speeds and significantly reduced gas fees. Farming delights and IFOs add an extra layer of excitement, with rewarding opportunities and early access to promising new tokens. PancakeSwap’s commitment to innovation and user satisfaction solidifies its position as a leading DeFi platform.

EraLend Publishes The Progress Of The Attack With 8 Suspicious Addresses

EraLend’s zkSync protocol attacked, losing $3.4 million. Attackers dispersed funds across 3 blockchains, 8 addresses. The protocol seeks community help, and suspends operations temporarily.

MakerDAO Adopts Enhanced DAI Savings Rate Proposal With 99.93% Support

MakerDAO’s proposal to increase the DAI savings rate has been approved and the interest rate will temporarily increase to 8%. The vote received almost absolute support from the community (99.93% of the community agreed). EDSR is determined based on DSR and DSR usage rate and decreases over time as usage increases, until EDSR eventually disappears when usage is high enough.

Arkham Supports Users Registering Unique Usernames

Arkham announced its latest feature to help users register unique usernames on the platform. According to the announcement, usernames are unique that will be used for more features to be announced in the future. The username can only be claimed once.

Alphapo Hot Wallet Losses Surge to $60M, ZachXBT Reports

Cryptocurrency heist at Alphapo: $60M stolen. Intricate web of transactions and sophisticated operation. Collaboration needed to combat rising threats in the crypto space.

Kannagi Finance’s $2 Million User Losses Is Being Shifted To Tornado Cash

Kannagi Finance, a revenue aggregator protocol on zkSync Era, executed a rug pull, resulting in over $2 million in losses for users. Funds from the Kannagi Rug were sent to Tornado Cash in a transaction involving 600 ETH (approx. $1.13 million). The protocol’s total value locked (TVL) collapsed from $2.13 million to near zero, and the native token KANA’s value nosedived, leaving investors reeling from the shock.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.