- Several altcoins have climbed up and recovered from the dip.
- The top 5 trending cryptocurrencies today are ADA, ARV, GRV, MLN, and KITE.
As the entire crypto market slowly recovers from the dip in the last few months, several altcoins have also climbed up. Among the trending altcoins are Cardano (ADA), Ariva (ARV), Gravitoken (GRV), Enzyme (MLN), and Kite Sync (KITE).
According to Coinmarketcap, these are the top 5 trending cryptocurrencies today.
Recently, the Cardano Alonzo mainnet went live. In particular, everyone in the crypto community waited for this highly anticipated launch. Clearly, Cardano’s new upgrade is already showing remarkable results. Today it remains the no.1 on trending crypto.
As of writing, Cardano is trading at $2.10 with a 24-hour trading volume of $5,470,340,883. Although it is down by 2.57% in the last 24 hours, ADA is likely to bounce back with the upcoming Cardano Summit on September 25 and 26, 2021.
Transforming the travel industry is Ariva’s goal. They are the first portal where people can book their travel destinations using cryptocurrencies. According to Ariva Digital, its team is working on having its native coin and wallet. Ideally, Ariva Digital says these will launch in the first quarter of 2022.
As of now, ARV, its native token is a BEP20 token generated using the Binance Smart Chain network. It is trading at $0.000202 with a 24-hour trading volume of $12,498,728. According to coinmarketcap, it has raised more than 500+ over the last 7 days. This is clearly something every crypto enthusiast should take a look at.
Likewise, Gravitoken shows an amazing performance over the last 24 hours. Based on this coinmarketcap trending crypto list, GRV climbed up 121.29% and now trades at $0.1917.
In fact, Gravitoken also jumped over 400% four days ago. In order for prices to automatically rise, there needs to be a mechanism to reduce supply. Thus, they reduced the amount held in wallets in order to raise the price of the token.
According to a medium article, Gravitoken is a gravity-free rebasing, autonomous, community token with an automatic liquidity pool algorithm, and automated token buyback with a burn. More so, the supply is mathematically guaranteed to increase in price until it reaches a ceiling of 1,337,000 USD per token. This is why more people are getting curious about GRV now.
Meanwhile, Enzyme (MLN) formerly known as Melon Protocol, makes it to the trending list. Enzyme empowers you to build and scale vaults based on the investment strategies of your choice – from discretionary to ETFs and market-making. Enzyme gives you access to a large universe of DeFi tokens and protocols. To name a few, there are Synthetix, Idle Finance, Aave Lending, and many more.
Currently, MLN trades at $163.12 which climbed up 54.63% in the last 24 hours. Check out this recent medium article to know more about Enzyme.
Kite Sync (KITE)
Lastly, we have Kite Sync (KITE), a community-based DAO that is functioned through DeFi and NFT systems. Specifically, its services include staking, farming, governance, NFT staking, etc. Besides that, it also offers yield optimizing, staking platform, NFT launchpad, NFT staking platform, and more.
According to coinmarketcap, KITE’s price is $0.139147 with a 24-hour trading volume of $876,140 as of writing. It went up by 10.15% in the last 24 hours.
Based on its website, Kite Sync will have an exclusive NFT launchpad where KITE holders can participate in the sales of some of the most exclusive NFTs. These NFTs can further be staked on their platform where users can earn additional rewards and KITE tokens.
Facebook Begins Piloting Its Crypto Wallet in U.S.
Facebook has finally started rolling out its digital wallet
Social media giant Facebook has started rolling out its Novi digital wallet in the U.S. and Guatemala, according to an announcement posted by the company’s blockchain exec, David Marcus, on Twitter.
The purpose of the pilot is to test the wallet’s key features in the wild.
While stablecoins are typically used by traders for parking their gains, Marcus hopes that the trial will be able to showcase a new use case:
We’re also hopeful this will demonstrate a new stablecoin use case (as a payments instrument) beyond how they are typically used today.
Notably, Facebook will be trialing its wallet with Paxos’ Pax Dollar as a cloud of regulatory uncertainly continues to hang over its own stablecoin project.
Coinbase’s custodial arm will be responsible for safeguarding users’ funds.
Initially named “Libra,” the project ditched its controversial structure along with the moniker after stumbling upon regulatory roadblocks in 2019, and it was reintroduced as Diem in April 2020.
Marcus announced that the Novi crypto wallet, which was initially named “Calibra,” was ready to come to market in August.
UK investors have lost $200M in cryptocurrency scams since 2021
- Investors in the UK have lost over $200 million in cryptocurrency scams since this year.
- About 558 of the fraud reports were related to fake celebrity endorsements.
Cybercriminals are still capitalizing on the growing attention and popularity of digital currency to siphon money from unsuspecting investors. Recently, the fraud and cyber reporting center of the United Kingdom (UK), Action Fraud, disclosed that the residents have lost over $200 million (or £146,222,332) in cryptocurrency scams since the beginning of the year.
Cryptocurrency scams up 30% in UK
The losses so far already represent a 30 percent increase from the record last year. The Action Fraud said investors have filed 7,118 reports of cryptocurrency scams since January, most of which were from people below the age of 50 years, losing over $28,000 (£20,500) on average. The majority of the victims (52%) were aged between 18 and 45.
“Reports of cryptocurrency fraud have increased significantly over the past few years, which is unsurprising given everyone is spending more time online,” said Temporary Detective Chief Inspector Craig Mullish from the City of London Police. “Being online more means criminals have a greater opportunity to approach unsuspecting victims with fraudulent investment opportunities.”
Fake celebrity endorsements
The Action Fraud noted that some of the cryptocurrency scam reports they received were connected to fake celebrity endorsements. We have reported several cases where cybercriminals impersonate well-known figures or use fake testimonies to deceive people into investing in their projects.
Between April 2020 and March 2021, about 558 UK investors filed fraud reports involving “bogus celebrity endorsements,” and 79% of all the inventors who fell for these scams said it was crypto-related.
As recently as October 15, Cryptopolitan reported that scammers made away with about $1.4 million from Tinder users who were tricked into a fake Bitcoin dating app.
Here’s Why Billionaire Real Estate Mogul Barry Sternlicht Owns Two Different Crypto Assets
Billionaire and real estate magnate Barry Sternlicht says that he owns Bitcoin (BTC) and Ethereum (ETH) for a number of reasons.
In a new interview with CNBC’s Squawk Box, the chief executive of Starwood Capital says that he’s invested in crypto due to his concerns regarding endless money printing and what he sees as questionable monetary policies.
“The reason I own BTC is because the US government and every government in the Western hemisphere is printing money now until the end of time, And this is a finite amount of something, and it can be traded globally and people have fiat currencies whether it’s in Nigeria or… Bolivia or wherever, you can move into something that the world has accepted as a substitute for gold.”
Referencing JPMorgan CEO Jamie Dimon who said he thinks Bitcoin is “worthless”, Sternlicht argues that the same case could be made for gold.
“What Jamie Dimon talked about, I mean gold is kind of worthless too, silver [as well], they have some industrial uses, but they’re minor.”
The billionaire says that while Bitcoin is minimal in its purposes, he sees high potential in Ethereum’s ecosystem, plus all of blockchain technology in general.
“Since it’s 18 million float of 21, I think Bitcoin… It’s the biggest. It’s a dumb coin, it has no real purpose other than a store of value, and it’s a little crazily volatile. So Ether, which is right below it, I own some of that. That’s a programmable Bitcoin, and then there are tons of other coins that are built off of that system… I’ve become very interested in blockchain technology as a whole, the digital ledger is going to change everything…”
"Gold is kind of worthless," says Barry Sternlicht. "The reason I own #bitcoin is because the U.S. government and every government in western hemisphere is printing money now to the end of time and this is a finite amount of something and it can be traded globally." pic.twitter.com/72zYQTjF0y— Squawk Box (@SquawkCNBC) October 13, 2021