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The crypto market is showing signs of recovery, and it seems Cosmos has also been pulled in the same direction with an increase of 12% in the last 24 hours.
Cosmos (ATOM), the 27th biggest cryptocurrency, has a total market cap of $3.2 billion. ATOM, the token that fuels the Cosmos blockchain network, has been gaining a lot of traction with an increase of over 12.7% overnight. 
Currently, ATOM is trading at the price point of $11.45.
Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues
ATOM Remains In Bear Territory 
Even though the charts have been looking bullish, ATOM is still at a bearish stance with trades that plummeted by 74% compared to its all-time high record of $44.70 in September 2021.
There has been a noticeable spike in ATOM’s trading volume that is evident in multiple exchanges. The total trading volume is at roughly $327 million in the past 24 hours, which is up by 11% in comparison to the previous day.
What Is Cosmos?
Cosmos refers to a decentralized network of blockchains that runs using the power of Byzantine Fault Tolerance (BFT) algorithms. 
More so, Cosmos also enables developers to create and innovate their own blockchains plus allows Blockchains that run on Cosmos to freely interact or engage with one another.
Some of the major blockchains that run in the Cosmos are the Terra, Kadena, and Thorchain.
Developer Incentives Following Terra’s Demise
Injective, a decentralized blockchain that is focused on the development of decentralized Finance (DeFi) applications, has designed a proposal to create incentives for developers who were negatively impacted by the downfall of Terra.
Injective is also responsible for the adaptation of the Ethereum compatibility and bringing it to the Cosmos IBC ecosystem which has immensely helped Terra developers to build applications fast with the aid of familiar tools.

ATOM total market cap at $3.16 billion on the weekend chart | Source: TradingView.com
The Injective proposal was created on May 12 following the downfall of Terra at which developers started to look for opportunities to build projects elsewhere. The proposal was passed with a convincing 99% agreement with the initiative in a matter of four days.
The entire injective community was in unison when they decided to redirect the incentives just to make sure that Terra dApps will have enough resources to facilitate a smooth transition into joining Injective.
Further, CosmWasm, Injective’s up-and-coming smart contract layer is seen to power up Terra projects to enable speedy onboarding without the need to rewrite codes which could happen if they decided to transfer to other blockchains.
Suggested Reading | Ripple (XRP) Struggles To Breach $0.45 Level, Down 16% In Last 7 Days
Cosmos Network Performing Well
There are nearly 50 tokens and 28 InterBlockchain Communication (IBC)-enabled blockchains that are running in the Cosmos.
More so, there are also around 265 services and apps that power up the Cosmos ecosystem comprising wallets, blockchains, and explorers.
Kadena TVL was up by 18% or $7.2 million in just 24 hours. TVL of Cronos soared by 2.16% or $2.32 billion in the past 24 hours.
Tokens in the cosmos plus DeFi activities have been performing extremely well.
Meanwhile, the king of crypto have improved in-market performance. Bitcoin is up by 4% in a matter of 24 hours and is now trading at $30,187. 
Ethereum has also increased by 4.4% overnight with a current TVL of $2,026.
Featured image from Zipmex, chart from TradingView.com


The crypto market is showing signs of recovery, and it seems Cosmos has also been pulled in the same direction with an increase of 12% in the last 24 hours. Cosmos (ATOM), the 27th biggest cryptocurrency, has a total market cap of $3.2 billion. ATOM, the token that fuels the Cosmos blockchain net...

newsbtc.com

Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery

Following the massive dump in the past week, Ripple price regains its stance on a long trend. Moreover, bulls must tower the bears in this current market momentum.
Last week wasn’t a good trading week for Ripple buyers, as the XRP token recorded a massive 42% loss. As a result, the week closed below $0.4255. Notably, the entire week had the token’s price steadily following a huge bearish trend, declining to $0.4018 before climbing back to $0.4123 and terminating there for the week.
Notably, most indicators have been engrossed in the oversold zone, implying the possibility of a temporary uptrend.
 Ripple Price plunges with no signs of getting up | Source: TradingView.com
However, the token’s price must create a higher low and higher high to validate this momentum reversal. This also means that the bulls must push XRP’s price up to $0.65 before it can create form a bullish trend.
What Are The Odds?
Due to the massive decline, one can only expect the XRP token to record a bullish momentum, or bullish mean reversal, temporarily. On the other hand, we can expect it to be short-term, given the present market structure. The technical oscillator’s value shows that the token tested the all-time-low (ATL) in the hourly, daily, and weekly charts.
Related Reading | More Stress For El Salvador As Bitcoin Dips To $29,000
It’s also worthy to note that the token’s price is still trading below the 50-day & 100-day Exponential Moving Average (EMA). Thus, a rejuvenated buying pressure would force the price to reach the 50-day Exponential Moving Average before testing the psychological $0.50 mark.
On the other hand, a decline in the bearish momentum would cause the coin to continue in a steady decline or downtrend. Should XRP break below the current session’s low value, it’d test Friday’s low at $0.40.
Technical Indicators
Moving Average Convergence Divergence: The MACD trades underneath the midline with steadily growing bullish momentum. Relative Strength Index: The RSI hovers close to the average line, having no stated directional bias.
A Brief On Ripple?
Ripple is an innovative crypto project that functions very interestingly as a cryptocurrency and a payment gateway. Created by the Ripple Labs, the Ripple crypto project enables users to facilitate payments, cryptocurrency lending, and other financial platforms. While Ripple enables worldwide payments, the XRP token allows users to swap between cryptocurrencies.
Related Reading | Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover
Notably, Ripple was established in 2012 by Chris Larsen together with Jed McCaleb. Four years after then, the company purchased BitLicense from New York State to increase the integrity of its XRP token. However, following the global cryptocurrency crackdown, Ripple dropped by over 21% and struggled within that zone for a long time.
Featured image from Pexels, chart from TradingView.com


Following the massive dump in the past week, Ripple price regains its stance on a long trend. Moreover, bulls must tower the bears in this current market momentum. Last week wasn&#8217;t a good trading week for Ripple buyers, as the XRP token recorded a massive 42% loss. As a result, the week clo...

Ripple Price Falls Below $0.43 As Bears Take Control Of The Market

Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap.
With a market cap of $918 million, LUNA is trading at $0.00013 per coin. The coin has gained 1% in the last 24 hours and 75% last week.  
Related Reading | Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up
It’s worth noting that even though the price of this cryptocurrency had fallen dramatically over the past few days and South Korean officials were looking into penalizing its inventor for $78 million in tax avoidance, we see the coin trending higher than ever before.
The South Korean authorities are investigating why the value of Terra’s dollar-pegged stablecoin, UST lost its peg on May 9. The market for this coin quickly melted down within four days. As a result, the stablecoin lost $18 billion. This affected not only the stablecoin UST but also all networks built upon it, duch as LUNA, whose price plummetted from $62 per coin down to a fraction of a penny.
 LUNA is currently trading at $0.00013 with a 1% increase | Source: LUNA/USD price chart from Tradingview.com
Tax Authorities Fined LUNA Founder For Avoiding Taxes
In order to investigate, both South Korean regulatory bodies, the Financial Supervisory Service and the Financial Services Commission called the local cryptocurrency exchanges to submit the transactions data. 
The information requested from the local exchanges includes trade volumes for LUNA and UST as well the number of investors who have suffered losses because their investments declined during this time period.
On the data request, a local exchange operator, Yonhap, said;
It seems that they collected this information in order to minimize damage to investors in the future.
The Korean National Tax Service has found that Terra’s parent firms have avoided paying corporate and income taxes. The company moved LUNA from its software firm, Terraform Labs, to Singapore’s Luna Foundation Guard (LFG) to avoid paying taxes.
Do Kwon was fined $78 million by the tax department for acquiring and selling $3 billion in Bitcoin LFG. In addition, the Terra inventor could face further fines from the tax department.
The NTS requested that Do Kwon and Daniel Shin pay $100 million in taxes in December. However, the two men declined since their company, Terraform Labs, is domiciled in Singapore. The NTS argues that all of Terraform Lab’s operations are controlled from South Korea, but the two men maintain that their business is conducted primarily in Singapore.
Related Reading | Tether Cuts 17% Of Its Commercial Paper Holdings Over Q1 2022
In addition, only a few days before Terra collapsed, Do Kwon attempted to dissolve Terra’s Korean entities. There is speculation among onlookers about how long before the chain crumbled, Do Kwon had been prepared for Terra’s downfall.
The founder of Terra is being sued by 200,000 people in Korea who invested in either LUNA or UST.
                Featured image from Flickr, and chart from Tradingview.com
 


Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap. With a market cap of $918 million, LUNA is...

Investors Continue To Trade LUNA Despite Massive Crash

Statistics recorded this week show that the aggregate number of non-fungible token (NFT) sales, settled across more than a dozen different blockchains, has officially surpassed $36 billion. While there are 18 competing blockchains offering NFTs, Ethereum-based NFT sales dominate by more than 75%. While Ronin commands the second-largest amount of NFT sales, NFTs from the game Axie Infinity have been the top-selling collection for quite some time, with more than $4 billion in global sales to date. 
$36 Billion in All-Time NFT Sales, Ethereum Dominates Sales by More Than 75%
The world of blockchain-based digital collectibles has been a force to reckon with as the NFT ecosystem has become a multi-billion-dollar industry. This week’s metrics indicate that all-time NFT sales have surpassed $36 billion to date.

The $36 billion in sales recorded on cryptoslam.io’s NFT dashboard stems from 18 different blockchains like Ethereum, Ronin, Solana, Avalanche, Wax, Polygon, and Flow to name a few. Ethereum’s $27 billion in NFT sales, however, represents 75.02% of the total number of sales across all the chains.

The top blockchains in terms of all-time NFT sales besides Ethereum include Ronin ($4B), Solana ($2.2B), Flow ($1B), Polygon ($591M), Wax ($430M), Avalanche ($277M), Immutablex ($98.7M), Palm ($50.5M), and Tezos ($40.4M). All-time NFT sales from the top nine blockchains add up to approximately 24.61% of the non-Ethereum-based NFT sales.
The remaining nine blockchains below Tezo’s position only represent 0.37% of the $36 billion in all-time NFT sales volume. Ethereum’s 1,300,118 NFT buyers and Ronin’s 1,742,207 NFT buyers are the only two chains with more than a million unique NFT buyers.

Out of the $36 billion in NFT sales, the top NFT collection in terms of all-time sales is Axie Infinity, which has seen more than $4 billion in sales. The second-largest collection in terms of sales is Cryptopunks, which has seen $2.24 billion in sales.
Cryptopunks is followed by Bored Ape Yacht Club (BAYC) which has recorded $2.12 billion in all-time sales. BAYC is followed by Mutant Ape Yacht Club ($1.52M), Artblocks ($1.25M), NBA Top Shot ($1M), Otherdeeds ($906K), Azuki ($756K), Clonex ($671K), and Veefriends ($538K).

Most Expensive NFTs Stem from Veefriends, BAYC, Cryptopunks, Cyberkong — Opensea Still Commands the Most Amount of Sales by an NFT Marketplace
All-time sales metrics from cryptoslam.io’s dashboard indicate that the most expensive NFT sold is Veefriends’ “Thoughtful Three Horned Harpik,” which sold for 100,000 ether or $316 million. The Veefriends NFT is followed by Cryptopunk 5822 which sold for 8,000 ether or $23.7 million.
Five of the most expensive NFTs sold out of the top ten are BAYC NFTs and two are Cryptopunks. Other collections in the most expensive NFT top ten list included Meebits 10,761 and Cyberkong VX 8252.
Out of all the NFTs sold, most are purchased on the NFT marketplace Opensea with the market Looksrare following the platform’s lead. Other notable NFT marketplaces include Magic Eden, Flow’s NBA Top Shot market, Mobox, Solanart, Wax’s Atomicmarket, Bloctobay, and Rarible.
While billions of dollars worth of NFTs have been sold during the last few weeks, NFT sales have been dropping significantly. Weekly NFT trade volumes are down and weekly NFT sales have also floundered during the past few weeks. If the crypto economy is truly in a bear market cycle it will be interesting to see how the NFT industry handles the downturn.
What do you think about the 18 blockchains recording $36 billion in all-time NFT sales? Let us know what you think about this subject in the comments section below. 



























Statistics recorded this week show that the aggregate number of non-fungible token (NFT) sales, settled across more than a dozen different blockchains, has officially surpassed $36 billion. While there are 18 competing blockchains offering NFTs, Ethereum-based NFT sales dominate by more than 75%....

news.bitcoin.com

Cumulative NFT Sales Among 18 Blockchain Networks Surpass $36 Billion

According to Coffeezilla, the V2 Contract was the project’s first and only original idea. The operators basically modified the fee structure and little else, but SafeMoon did change the code. “The big question became “how do you get everyone to switch over to this v2 token?”, the narrator asks.  As we enter the saga’s final chapter, it’s worth remembering that this whole thing started with a rug pull and continued with Operation Pheonix.

This is where the situation escalates. “In an attempt to make the v1 token useless and force everyone to migrate their tokens over to v2,” the SafeMoon people “decided to force people to switch using a 100% tax.” That’s the beauty of centralization, the government can do whatever it wants. The SafeMooners created a mortal trap, “essentially, if you tried to do anything but migrate your tokens to v2 you would lose all of your tokens”.
Related Reading | YouTube Detective Exposes Jake Paul’s Alleged Secret Wallet For Crypto Scams
Of course, many people tried to do all kinds of things and lost all kinds of tokens. How much exactly? A  Blockchain researcher told Coffeezilla: 
“So, the 100% tax was implemented on December 29th. After summing up the incoming SafeMoon and BNB in its historical value, the total losses added up to 102 million dollars.”
Is John Karony Playing Coffeezilla?
In this part of the movie “SafeMoon really goes from like kind of a disaster to full on everything’s falling apart.” Money keeps disappearing, allegedly, and the FBI is investigating the team. Not only that. “Things got worse, of course, because calls leaked of former SafeMoon members talking about deleting evidence… in case of an FBI investigation,” Coffeezila hilariously says. 
And around here is where angry investors introduce the class action that includes Jake Paul, Nick Carter, Soulja Boy, and Lil Yachty among the accused. In the text, this is how the law explains the situation:  
“The defendants’ intention behind the celebrity-driven marketing of the SafeMoon token was to eventually sell their holdings for a profit when numbers were high.”
And so they did, allegedly. “SafeMoon is down 90% and almost everyone has abandoned ship,” the story continues. “At this point, John Karony is really sort of the last one standing.” So, Coffeezila sets himself up to answer this burning question. “Is Karony actively profiting from SafeMoon the way Kyle and Papa did?” The thing is, Karony is actually good at this and his wallets aren’t visible. “Karony is like a ghost,” and “doesn’t move liquidity around as much,” Coffeezila says. 

SFM price chart on GateIO | Source: SFM/USDT on TradingView.com
How Was Karony Getting Founds?
Apparently, Karony has a new scheme. “According to Ginger, Bitmart is the new source of new founds.” As it turns out, the exchange had been making a killing on fees from SafeMoon transactions and was sending the funds that were supposed to go to the liquidity pool directly to SafeMoon developers. In any case, through an informant Coffeezilla identified Karony’s wallet:
“The first thing we find is that he was receiving massive payments of Tether. Totaling up to 15 million dollars. And where did these payments come from? From Bitmart, he also had four million in SafeMoon. This would all seem to confirm the theory that the fees from Bitmart that were supposed to go to the LP may have been used by Karony.”
Related Reading | Former Safemoon Marketing Chief Accused Of Running $12 Million Crypto Scam
Not only that, but Coffeezilla also saw “millions of dollars flowing from Karony’s wallet to a familiar address. Not the liquidity pool, but Kyle, the creator of SafeMoon.” Does this confirm the theory that Kyle was paid to leave? That’s for you to decide, detective. We’re done here. For now.
Featured Image: Coffeezila in the video, screenshot | Charts by TradingView


According to Coffeezilla, the V2 Contract was the project’s first and only original idea. The operators basically modified the fee structure and little else, but SafeMoon did change the code. “The big question became “how do you get everyone to switch over to this v2 token?”, the narrator asks.  ...

KuCoin Token price	$16.19
Low - High 24H	$15.52 - $16.19
Market cap	$1.59B
Volume 24H	$8.92M
All time high	$28.83 -43.83% December 1st 2021
All time low	$0.342863 4622.68% February 7th 2019
Genesis date	N/A

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