What is Happening With Altcoins, Market Analyze

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Etherem held on centralized exchanges

The ratio of Ether held on centralized exchanges (CEXs) fell to 9.4% of the total supply today. It was the lowest in three years. Based on the data from crypto intelligence platform OKLink. Out of the 117 million Ethereum in circulation. Only 11 million were held on addresses related to CEXs, OKLink data show. Ethereum is the second-biggest cryptocurrency by market capitalization. The main factor for the outflow is DeFi, Eddie Wang, a senior researcher at OKLink said it. Wang mentioned to wrapped Ether (WETH) being the top address in the Ether Rich List. As well as deposits and liquidity pools of msouse DeFi protocols to explain the outflow of Ethereum from CEXs.

A16z Leads $111M Token Sale for Helium’s HNT

Helium’s rise is being rewarded with a $111 million token sale led by venture capital company Andreessen Horowitz (a16z). Ribbit Capital, 10T Holdings, Alameda Research and Multicoin Capital also invested, the company said Tuesday. The decentralized telecommunications network now owns more than 100,000 hotspots. A16z talked about it in a blog post declaring the investment. The network uses “LoRaWAN” technology to join devices (think scooters, e-bikes or environmental sensors) to the internet. Helium is one of the many “real-world” Web 3.0 projects tapping token-powered motivations to fuel growth.

Poly network was hacked

Poly Network was attacked on Tuesday, with the famous hacker draining nearly $600 million in crypto,Muyao Shen reported. Poly Network, a protocol founded by the founder of Chinese blockchain project Neo. This firm operates on the Binance Smart Chain, Ethereum and Polygon blockchains. When the hackers hit on Tuesday, they attack struck each chain consecutively. With the Poly team identifying three addresses in which stolen assets were transferred. When Poly tweeted some news of the attack, the three addresses collectively held more than $600 million in different cryptocurrencies, including USDC, wrapped bitcoin (WBTC, -1.88%), wrapped Ethereum (ETH, -1.35%) and shiba inu (SHIB), blockchain scanning platforms show. After the hack, opportunistic cryptocurrency users flooded Ethereum’s blockchain explorer with pleas for even a small portion of the plunder.

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