• Floki (FLOKI) surged 335% in a month to enter the TOP 100 crypto coins.
• Whales on Binance Smart Chain (BSC) are accumulating FLOKI, while Shiba Inu (SHIB) is the top ETH whale.
• KuCoin and OKX have listed FLOKI against USDT & USDC, and it has reached over 44,000 holders across both blockchains.
Floki Becomes Top Traded Cryptocurrency
The emerging memecoin Floki has surged 335% in a month to enter the TOP 100 cryptocurrency coins. Whales on Binance Smart Chain (BSC) have been actively accumulating FLOKI, making it one of the top traded cryptos on the network. Meanwhile, rival canine-themed coin Shiba Inu (SHIB) leads among the largest ETH whales.
Elon Musk’s Tweet Boosts Crypto Prices
The prices for all three dog-themed tokens were boosted by Elon Musk’s announcement that the Shiba Inu mascot dog is now the new CEO of Twitter. Despite this satirical tweet from The Dogefather being beneficial for all three tokens, Floki got the most out of it as its name was visible in the contract.
Floki Gets Listed On Major Exchanges
Floki recently got accepted by two major crypto exchanges; KuCoin where it trades against USDT (Tether) & USDC (USD Coin), and OKX which offers a wider range of trading options such as savings, perpetual, and futures contracts. This helped Floki clinch its #99 spot among global market cap rankings.
Growing Popularity Among Ethereum Whales
In contrast to BNB Chain whales who favor FLOKI over SHIB, Ethereum whales remain loyal to their favorite token with SHIB still leading among them with regards to volume traded. Despite a 10% dip after KuCoin’s listing due to market correction, FLOKI is still 8% up over last 24 hours and has surpassed 440k holders across both blockchains combined – a milestone achievement for this rapidly growing memecoin!
With its impressive bull run and mainstream acceptance from major exchanges like Kucoin & OKX – not to mention Elon Musk’s endorsement – Floki proves itself an emerging force to be reckoned with in the world of cryptocurrency!
• Cardano (ADA) has launched the SECP Upgrade, also known as the Valentine’s upgrade.
• The upgrade is expected to increase interoperability and secure cross-chain development.
• Following its implementation, ADA has seen an immediate positive response from the community on Crypto Twitter.
Cardano (ADA) Launches SECP Upgrade
Input Output Global (IOG) announced that their Valentine’s upgrade – support for Plutus SECP cryptographic primitives – is now live on Cardano’s mainnet. The upgrade will enable developers to create secure, reliable and cost-effective cross-chain dApps using a broader range of multi-signature or threshold signature designs native to Cardano.
Positive Response From Community
The news of the launch elicited a mild positive response from the community on Crypto Twitter with no critiques voiced in response to the upgrade so far. Furthermore, following its implementation, ADA recorded an immediate 9.78% increase in price from its one-month low of $0.33 recorded on January 18th, reaching $0.39 in value on February 14th.
Increase Interoperability & Cross-Chain Development
The new cryptographic primitives enabled by the SECP upgrade are expected to increase interoperability and secure cross-chain development for developers building dApps on Cardano’s blockchain network. This could potentially result in increased usage of the blockchain network as well as higher demand for ADA tokens over time if it proves successful in securing cross-chain transactions securely and reliably at a reasonable cost.
Developer Numbers Soaring
In addition to this, developer numbers have been soaring since before the upgrade was announced indicating an increasing interest in Cardano’s ecosystem and potential applications built upon it thanks to larger adoption rates among users and developers alike.
Cross Chain Love Story?
Overall, while not yet overwhelming, there has been some mild positivity surrounding Cardano’s anticipated SECP network upgrade which is set to enable users to transact across different blockchains safely and cost effectively – potentially creating a ‘cross chain love story’ between them all!
• CoW Swap, a decentralized exchange (DEX), has suffered an exploit resulting in the hacker stealing over $180,000 worth of crypto.
• The hacker exploited a smart contract in the “solver competition” of CoW Swap.
• Though funds were stolen, CoW Swap users were not affected and the solver’s bond will pay for all damages.
CoW Swap DEX Exploit
CoW Swap, a decentralized exchange (DEX), recently experienced an exploit resulting in the theft of over $180,000 worth of crypto. Despite this loss, neither the protocol nor its users suffered any damage as a result of the attack.
Details Of The Exploit
The exploit happened after a hacker accessed a smart contract in CoW Swap’s “solvers competition”. The hacker was able to drain the settlement contract containing protocol fees and loot roughly $180,000 worth of crypto which was consolidated into two wallets containing DAI($123,000), BNB ($50,000) and ETH ($7,400).
CoW Swaps Response
Despite confirming that the exploit had occurred, CoW Swap noted that none of its users were affected and no funds were stolen from the protocol during this incident. They explained that all damages would be paid by solver’s bond which meant that their protocol did not suffer any direct loss from this attack.
How Was The Exploit Carried Out?
The hacker entered a „solver competition“ hosted by CoW swap ten days ago where external parties compete to find the best execution route for their users. By exploiting a smart contract they tricked GPv2Settlement contract to approve swapguard for DAI spending before triggering it to transfer DAI from GPv2Settlement contract.
This DeFi exploit highlights how vulnerable decentralised protocols can be if proper security measures are not taken into account when designing them. Though this incident resulted in significant financial losses for some people involved with CoWSwap it is reassuring to know that no user or protocol funds were lost due to this attack