The latest round-up for everything related to the blockchain and digital assets is here on Tech Times' CryptoWatch, with the top news from last week centering on the $200 million worth of cryptocurrency stolen by hackers. There is also the news regarding the non-fungible tokens of the present, with as much as 95 percent of existing ones today said to be "worthless."
In this round-up, the team also includes the current prices of the top coins in the market to give users an overview and start their week with an expectation of the industry.
Hackers Stole $200M Worth of Crypto from Hong Kong's Mixin
A Hong Kong-based cryptocurrency firm called Mixin has reported a massive security breach to its systems, as early as September 23, and this led to unauthorized access to their cloud service provider's database. Because of this access, the company lost approximately $200 million worth of cryptocurrency from their mainnet.
Mixin responded by asking the help of Google and blockchain security firm, SlowMist to investigate the access to its systems. As reported by TechCrunch, as the investigations occurred, the company temporarily suspended any transactions on its platform, including deposits and withdrawals.
It is unknown yet who commenced the attack on the company and stole their assets, with Mixin looking to track the perpetrators. The company also addressed its customers via a live stream last September 25, with its founder, Feng Xiaodong, explaining the steps it will take moving forward.
NFT's Track: 95% are Reportedly Worthless
Last week saw a significant dive towards the world of blockchain-based collectibles, NFTs, which have found that 95 percent of the existing ones in the world are said to be worthless. Despite its peak in late 2020 and around 2021, the NFTs were worth a significant price, more than renowned collectibles.
The digital art that was minted in the blockchain now only sees one percent of it sell for more than $6,000, and this was far from its average selling price at its peak in 2021. According to Metav.rs, the NFT industry saw as much as $41 billion in cryptocurrency expenditures two years ago.
NFTs are still being sold and minted, but are no longer raking up massive coins in the market, with many investors losing money from their initial horde of pricey digital collectibles.
Prices of the Top Coins
CoinMarketCap's charts show a more positive outlook for cryptocurrencies in the present, with Bitcoin seeing significant growth over the past week and is also trending on the platform.
Bitcoin saw a significant 6.58 percent jump over the past seven days, now valued at $27,900, with a volume of 365, 228 BTC.
This is also good news for Ethereum investors as the second top coin saw a 9.21 percent increase from last week, with its current market price at $1,724.
Coming in at third is Tether USDT, the stablecoin which saw a slight dip, varying from $0.9999 to $1.00, but is not entirely hurtful to its investors.
Other coins are as follows
- BNB at 4th: $217.46 | 4.30 percent increase (7 days)
- XRP at 5th: $0.5228 | 4.39 percent increase (7 days)
- USDC at 6th: $1.00 | 0.02 percent dip (7 days)
- SOL at 7th: $23.76 | 22.35 percent increase (7 days)
- ADA at 8th: $0.2642 | 8.28 percent increase (7 days)
- DOGE at 9th: $0.06302 | 3.55 percent increase (7 days)
- TRX at 10th: $0.08989 | 7.46 percent increase (7 days)
