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Celebrity Rush in Tense Crypto Market
The markets are waiting for the data coming from the U.S. and the policies by the FED will show the path to the global markets: up or down in June.
As a result of the growing tension, and increase in the DXY index, the red days became inevitable. Now, the altcoins are red once again whereas Bitcoin fights for $70K resistance to be broken.
What do you think the focus on the crypto market is?
There is no need to repeat that but crypto is unpredictably wild and the market never sleeps even once. To be able to follow the money in the market, you better find a way to catch up with every single trend in the ecosystem.
Now, once again, celebrities are hunting for some attention and money in the market. Meanwhile, the Pump-Money / PumpFi trend is based on creating a new meme and dumping it to the new comers when the price is inorganically high.
When does this hype end? As it is happening not genuinely, we cannot expect it to last a long time. Iggy Azalea's MOTHER token comes with a utility that the holders can buy phones from Iggy's shop with SOL or MOTHER tokens.
Paying for services with Mother sounds pretty good but the holders need to consider that while there is fiat money we use as a medium of exchange, how many people choose to carry a bag of tokens that may crash any time.
From Meme to Cross - chain trend, the atmosphere changes drastically. While the meme side is driven by adrenaline and hopium, the multi - chain operations are full of stress and vulnerabilities.
Due to the complexity of the process, the hackers always target such projects to exploit their smart contracts. Orbit Chain hackers moved the stolen funds to Tornado Cash to make it intractable.
Similarly to the case of Orbit Chain, Coingecko suffered from a case of hack. According to the crypto service provider, around 2 Million account information has been acquired by the hackers. Do not download any files sent by unknown sources and make sure your credentials are different from Coingecko on other platforms.
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