This past week, the cryptocurrency market experienced a period of stability, with prices of leading cryptocurrencies remaining relatively steady. This slow news cycle has been seen as a positive sign, indicating that the market has somewhat stabilized this year.
The tranquility on Crypto Twitter mirrored the calm in the market. However, there were a few notable events that caught the attention of the cryptocurrency community.
One such event was the apology issued by Unity, a crypto-friendly game engine developer. The company revised its controversial Unity Runtime Fee, which had sparked anger among game developers. This apology was met with mixed reactions on social media.
In another incident, decentralized finance (DeFi) liquidity protocol Balancer fell victim to a DNS attack, resulting in the theft of approximately a quarter of a million dollars. This incident was closely monitored by blockchain sleuth @ZachXBT, who tracked the stolen funds as they were being drained.
Meanwhile, NFT collector @DoItBigChicago expressed disappointment when the physical counterpart of his Gucci/Yuga Labs collaborative NFT pendant arrived. This highlights the occasional mismatch between the digital and physical realms of NFTs.
Another interesting observation was made by NFT Statistics account @Punk9059, who noticed the substantial royalties accumulating to creators on the decentralized social token platform Friend.tech. This platform allows creators to monetize their work through the issuance of social tokens.
The week also saw the resurfacing of a video featuring Hal Finney, an early Bitcoin pioneer, discussing zero-knowledge proofs 25 years ago. The footage was from the 18th annual International Cryptology Conference in 1998 and garnered attention on Twitter.
In a rather unexpected turn of events, Dogecoin briefly surpassed Bitcoin in terms of stability, according to Crypto Twitter news outlet @DeItaOne. This surprising development amused many cryptocurrency enthusiasts.
But perhaps the most bizarre story of the week came from Venezuela. Authorities discovered that inmates in a maximum-security prison were mining Bitcoin using thousands of ASICs. The police operation to apprehend the prisoners resembled a full-scale invasion and resulted in the seizure of not only mining machines but also weapons such as grenades, rocket launchers, and sniper rifles.
Although it was a slow news week for the cryptocurrency market, these unique stories created some buzz within the community. As the market continues to stabilize, cryptocurrency enthusiasts eagerly await the next round of developments and news in the industry.