Altcoins
Over $200 Billion in New Capital Could Hit Altcoins as UAE Investors Keep an Eye on These Utility Tokens
We can say that this is good news for the cryptocurrency market, as we may soon see significant growth, as investors from the United Arab Emirates (UAE) plan to invest over $200 billion in altcoins.
As the cryptocurrency market is trying to recover and perhaps end its bearish trend soon, investors around the world are looking for new investment options. They are especially interested in utility tokens such as DTX ExchangeCardano (ADA) and Bitcoin Cash (BCH) for their attractive features and potential for high returns.
Cardano (ADA) Faces DDoS Attack
The Cardano (ADA) blockchain recently suffered a DDoS attack, but it had minimal impact on the main network. According to insiders, the attack originated from Cardano (ADA) Block 10,487,530. Despite continued attacks targeting its smart contracts, Cardano (ADA)’s decentralized design has kept the network fully operational by distributing the load and avoiding a single point of failure.
This attack was characterized by a spike in malicious activity attempting to disrupt operations. It started at Block 10,487,530, involving transactions that executed 194 REWARD-type smart contracts, each spending 0.9 ADA per transaction. Despite the attacker’s efforts to overload the network with complex transactions, Cardano’s decentralized structure (ADA) prevented any major disruption.
Mt. Gox Will Refund Bitcoin and Bitcoin Cash (BCH)
Mt. Gox, once the world’s largest Bitcoin exchange, is finally ready to refund Bitcoin (BTC) and Bitcoin Cash (BCH) to its creditors after nearly a decade. The exchange’s trustee, Nobuaki Kobayashi, announced that refunds in Bitcoin (BTC) and Bitcoin Cash (BCH) will begin in early July 2024. This decision follows extensive preparations to ensure that transactions are safe and compliant.
In total, 142,000 BTC, 143,000 Bitcoin Cash (BCH) and $432 million will be refunded. Over $9.4 billion in Bitcoin is owed to approximately 127,000 creditors, who waited more than 10 years to recover their funds after the collapse of Mt. Gox in 2014 due to multiple undetected cyber attacks.
UAE Investors Are Betting Big on DTX Exchange
After the attacks on Cardano (ADA) and the remaining redemption in Bitcoin Cash (BCH), the main attention of UAE investors has shifted to the new hybrid exchange DTX. DTX Exchange is quickly becoming one of the most promising projects on the market, known for being cost-effective, scalable and innovative.
This decentralized hybrid exchange blends the best aspects of centralized and decentralized exchanges. Since its launch, DTX Exchange has attracted significant interest from investors and is gaining traction rapidly.
One of the main reasons for its rapid rise is the impressive performance of the token presale. In just two days, the project raised over $100,000 and in a month it surpassed $790,000. Analysts have predicted returns on investment of over 100 times, fueling even more interest among investors. All these great fundamentals have been a reason for attraction for investors from the UAE.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Please also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to trick you into investing financial assets that may be lost forever and not recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investment. Read more Here.