Attention These 10 Altcoin Investors: Here’s Important News!

We take a look at the critical altcoin news of the week, from Internet Computer’s (ICP) Bitcoin and Ethereum integration, to the latest developments from the Cardano ecosystem…

Here are the altcoin developments of the week

DeFi platform Qubit was hacked at 5pm ET on January 27th and lost $80 million. Qubit is now offering a $2 million reward and calling for the hacker to return what he stole.

Open-source Bockchain Celo has launched cREAL, an algorithmic stablecoin pegged to the Brazilian Real. Three crypto exchanges in Brazil will provide access to the cREAL stablecoin: FlowBTC, NovaDAX and Ripio. Bitfy and Coins wallets will also support cryptocurrency.

As we have reported as Cryptokoin.com, the FTX exchange raised $400 million in the Series C funding round, which increased its valuation to $32 billion. CEO Sam Bankman-Fried described the massive fundraising effort as a “landmark success” for one of the largest exchanges:

Our Series C funding round represents a landmark achievement for FTX as we approached $2 billion in six months.

The highly anticipated ADAX DEX from the PoS altcoin giant Cardano ecosystem is preparing to launch ADAX DEX v1.0. ADAX promises to offer everything the Cardano community needs for a truly decentralized exchange (DEX) experience.

This week, a popular Brazilian TikToker and Youtuber posted an image of a beach sandwich accepting payment with a Shiba Inu (SHIB). The sharing of Erick Rocha, who has more than 88 thousand subscribers, went viral. TickToker purchased his meal on the beach from his phone by paying 158,000 Shiba. The video emphasized the use of cryptocurrencies as a payment method.

Another interesting news is the loss of 500 million dollars shared by a Reddit user named basubadelmevt. According to the Post, basubadelmevt lost half a million dollars in a short time. He shared the following on the platform:

I sent ETH to WETH contract and got WETH back. I assumed it worked the same way backwards and sent WETH back to the contract. ETH is irreversible! To get ETH back you need to use a frontend. And ETH disappeared forever.

On the last day of January, the popular meme coin Dogecoin (DOGE) rose to ninth place by market capitalization, despite its price dropping more than 4% in the last 24 hours. It managed to topple the ailing Terra (LUNA), which fell another 14% amid a brutal sell-off. At current levels, LUNA narrowly retains its ninth place seat.

Internet Computer (ICP) plans to launch BTC and ETH integrations by the end of the year. Bitcoin integration will be launched as part of Dfinity’s “Chromium Satoshi Edition” planned for the first quarter of 2022. Dfinity community member Berto Parga Pena explained that Blockchain Key encryption is “one of the fundamental breakthroughs for Internet Computer that has allowed scaling of millions of nodes”:

It is a set of cryptographic protocols that organize and enable the Internet Computer (ICP) and the nodes that make up the engine that runs it.

Daniel Larimer, popular software programmer and co-founder of the BitShares, Steem and EOS network, recently announced that he has rebranded his previous work. It has been stated that its new vision, called Fractally, will introduce the original EOS vision of 2017 to the modern crypto market. Thus, using BitShares, anyone can create, distribute and exchange tokens with a simple user interface with no coding experience.

Let’s end with the burning event of Fenerbahçe token. The previous burn took place on October 15, 2021, and 170,000 FB Tokens were burned. In the official statement, it was stated that 477,500 FB Tokens were burned for the 2nd burning event.