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Crypto SWOT: Attacks on token protocols and crypto projects are significantly down

Commentaries & Views


  • Render was the best-performing cryptocurrency of the week, rising by 20.23%, as tracked by CoinMarketCap.

  • According to Bloomberg, attacks on token protocols and crypto projects have dramatically decreased by 70% in the first quarter of 2023 compared to the same period last year. The amount stolen in the first three months of this year is less than any quarter in 2022, suggesting improved security measures and an overall decrease in vulnerabilities.

  • Gulf Finance, a joint venture between Binance and Gulf Innova, has received digital asset operator licenses for a digital asset platform from Thailand’s Ministry, as reported by Bloomberg.


  • The worst-performing cryptocurrency for the week, as tracked by CoinMarketCap, was GMX, down by 13.50%.

  • Elon Musk cautioned investors against overinvesting in Dogecoin during a virtual conference in London, hosted by the Wall Street Journal.

  • The amount of Ethereum available across exchanges dropped to a five-year low on May 26, reducing the total amount of Ethereum held on exchanges to 17.86 million. Bloomberg reports that this significant decline in Ethereum's exchange supply has not been seen since April 2018.


  • Bitcoin, an asset known for its volatility, has been consistently trading around $27,000 for three consecutive Tuesdays, suggesting a decrease in its typical volatility, as reported by Bloomberg.

  • The Solana Foundation announced the integration of AI into the layer-one blockchain through a new ChatGPT plugin, available for download on Github.

  • Bitcoin has been exhibiting less volatility lately, not posting a daily move of 6% for 70 sessions, marking its longest streak of relative calm since October 2020, as per Bloomberg.


  • Bloomberg reports that Shaquille O’Neal allegedly violated securities laws when he sold non-fungible tokens (NFTs) in connection with his Astrals Project. The Astrals NFTs are considered securities that should have been registered before being offered and sold.

  • Dubai’s financial regulator warned that global regulatory authorities need to enhance their collaborations to prevent malicious entities from exploiting gaps in cryptocurrency regulations, according to Bloomberg.

  • Zcash spot reached a 52-week low at $30.31, with the previous low recorded on March 11. The cryptocurrency has declined by 19.5% year-to-date, with its 52-week high at $66.91, as stated by Bloomberg.
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