Crypto Hebdo: Celsius in Bankruptcy, Polygon in Disney, Tops, Flops and Perspectives …

As cryptocurrencies begin a technical recovery, the industry’s evil demons reappear. A hacker has extorted nearly $ 8 million from Uniswap users. Following the Voyager Digital exchange, the loan company Celsius Network also filed for bankruptcy. But still, the very solid Celo blockchain announces that it has suffered a setback. The good news: Zidane’s partnership with Sorare and Polygon joins Disney’s accelerator as the market grows greener.

Uniswap suffers from phishing attacks

Uniswap users lost nearly $ 8 million in a phishing attack. Contrary to what Changpeng Zao originally claimed, it was not a platform flaw. On the contrary, the attackers played on the naivete of the users to extort funds from them.

Malicious Internet hackers sent emails to users promising to give away UniswapLP tokens that they could exchange for UNI for free. Unfortunately, it was just a phishing act. Those who visited the site were caught because the hackers were able to steal their confidential information and steal money from their wallets.

This practice is now common in the cryptosphere. Recently, OpenSea warned its users about a possible phishing attack due to a data breach. Note that users of the NFT marketplace in February had lost nearly $ 1.7 million. Recently, MetaMask had also warned its Apple users about the risks of phishing scams.

To learn more, read the following article:

👉: Uniswap loses $ 8 million in phishing attacks

Sorare draws Zidane

French football legend Zinédine Zidane has joined the NFT sports card publishing platform: Sorare. As part of this partnership, the French unicorn wants to revive the beautiful memories of the 1998 World Cup through the image of the superstar from the French team.

The nostalgic for this epic World Cup, where France defeated the Brazilian team 3 goals to 0 in the final with two cannon shots from ZZ’s head, will be able to recall the memories through Sorare’s card. The former French glory was expressed at the end of the partnership:

“At the start of a season or a World Cup, we all gathered and said ‘I want this card, I want this sticker’. Today, Sorare’s digital card has surpassed the physical cards of our time.”

We remember that before Zidane, Sorare had already signed the current glory of French football, the Parisian Kyllian Mbappé.

To learn more, read the following article:

👉: Sorare launches its partnership with Zinedine Zidane

Celo blockchain goes down

During this week, specifically the night of Wednesday, July 13, Celo officials reported via Twitter that the network had stopped at block 14035.19. At that time, the team members announced that:

“The validators are working to identify and resolve the issue. All funds are secure. News will be delivered as soon as possible.”

A few hours later, the blockchain recovered, but crashed again and stopped at block 14,035,044. The reasons for this disruption were not disclosed, but according to a team member from crypto, this outcome is a sign of growth in the blockchain.

It will be recalled that Celo is a cryptocurrency that allows any user to transfer tokens or make payments using their phone number which acts as their public address key.

To learn more, read the following article:

👉: Celo suffers from a critical network failure, the production of new blocks stops

Celsius filed for bankruptcy

That was to be expected. The loan company Celsius Network has filed a Chapter 11 bankruptcy petition. Despite a lot of news suggesting that it had recovered from its major money crisis, Celsius, like Voyager or Three Arrows Capital, ended up collapsing. Ultimately, officials believe this remains the best decision to take given the current situation. They said the following about it:

“We made this decision with the aim of stabilizing the business, completing a comprehensive restructuring operation that maximizes the value for all stakeholders, and preparing for success in the crypto industry following the Chapter 11 procedure.”

To learn more, read the following article:

👉: Celsius declares bankruptcy and initiates protection proceedings

Polygon will be on the Disney Accelerator program

The entertainment company announced earlier this week the winners of its accelerator program. Among those selected is the publisher of scaling technology Polygon, as well as two other web 3 initiatives. This year, the program will focus on building immersive experiences through virtual reality, artificial intelligence, NFTs and the meta-verse. Following the news, Ethereum’s layer 2 protocol took nearly 20% in the stock market.

To learn more, read the following article:

👉: Polygon (MATIC) joins the Disney accelerator and its price is rising in the stock market

Tops and flops: special mention for Ethereum

On the price side of the crypto market, we have seen a very nice move dictated by Ethereum. In fact, traders expect the famous migration of Ethereum to the proof-of-stake consensus mechanism. Speaking of the merger, another crypto involved in this event saw its price increase in anticipation of arbitrage opportunities. Since the re-affiliation of stEther after the Celsius episode, the Lido DAO protocol token, namely LDO, has experienced a nice growth on the stock market. This week, his course took 150%. The last peak of the week is Ethereum Classic, which saw its price explode by almost 35% on a weekly basis.

Here are the week’s peaks and flops:

Peek:

Crypto tower Current course Gain of 7 days
Lido DAO (LDO) $ 1.62 152.46%
Ethereum Classic (ETC) $ 19.87 31.53%
Quantum (QNT) 100.47 USD 25.48%
Source: CoinMarketCap

Flops:

Crypto tower Current course Loss of 7 days
Iota (MIOTA) 0.27 USD -7.01%
Helium (HNT) $ 8.96 -4,11%
Unus Sed Leo (LEO) $ 5.29 -6.13%
Source: CoinMarketCap

Outlook…

Cryptocurrencies were able to hold up despite news of inflation in the US and a DXY index reaching record highs. Some are beginning to wonder if the famous “bottom” has not already been reached. We see that Bitcoin manages to hold the $ 20,000 mark. The first crypto on the market even went over $ 22,000. Ethereum has given itself a very good performance and is now over $ 1,400. Anticipation of the merger played an important role in this week’s technical recovery, especially with the more precise announcement of a date and the success of certain recent tests. While the arrival of this event may push prices higher in the market, it can also contribute to the decline of digital assets if it does not prove to be a success.

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