Global Hive Buzz

SOL Surpasses BNB to Claim 4th Spot in Market Cap

Solana (SOL) has achieved a market capitalization of $41.724 billion, edging past Binance Coin (BNB), which sits at $41.721 billion, as reported by CoinMarketCap. Notably, Solana's trading volumes in the last 24 hours are more than three times higher than those of BNB.

Over the past month, SOL's price has surged by 78%, with a 15% increase in the last 24 hours, contributing to its rapid ascent in market capitalization. On December 20, SOL surpassed Ripple's XRP in market capitalization, securing a position in the top 5. This price surge has sparked heightened interest in the Solana ecosystem, leading to increased activity on its blockchain.

In addition to the market performance, Google searches for "Solana" have spiked by 250% from the beginning of October to the start of December, indicating growing curiosity and attention.

It is worth noting that concerns arose last year after the FTX cryptocurrency exchange, a major investor in Solana, experienced a collapse. Many predicted a gloomy future for the Solana ecosystem. However, with SOL now free from the influence of a significant partner, the project's outlook has become clearer, potentially enhancing its appeal to investors.

"Altcoins" Poised for Growth in the Booming Crypto Market

While Bitcoin captures the spotlight with its recent surge to 18-month highs, seasoned experts recognize that the most transformative gains often unfold in other corners of the cryptocurrency landscape. A carefully selected group of "altcoins" is anticipated to thrive as the broader crypto market gains momentum.

For retail investors eager to capitalize on the burgeoning crypto market and avoid missing out on potentially historic opportunities, the key is to stay informed. Savvy investors, numbering over 13,000 who registered for last year's event, are securing their FREE tickets to the upcoming Crypto Community Summit – a LIVE 2-Day Virtual Event scheduled for January 15th & 16th.

Ethereum Developers Aim for January Deployment of First Testnet for the Upcoming 'Dencun' Upgrade

Ethereum developers are intensifying their testing efforts for the upcoming Dencun upgrade, a significant milestone anticipated next year that will introduce enhanced data storage capacity through a novel process called "proto-danksharding."

During a biweekly call on Thursday, developers revealed their target date of January 17 for the Goerli test network (testnet) to undergo the Dencun upgrade. This much-anticipated enhancement will enable "proto-danksharding," designed to reduce fees for layer 2 rollups and scale the blockchain by expanding the space for data "blobs."

Originally slated for the last quarter of 2023, the release of Dencun was postponed to 2024 due to the intricate engineering challenges associated with the upgrade.

Dencun marks the first major upgrade since Shapella earlier this year, which facilitated staked ether (ETH) withdrawals from the blockchain.

Google and X Platforms Exploited by Scammers, Resulting in $58 Million Theft from Victims

A phishing tool named 'Wallet Drainer' has been utilized in scams through Google search and X ads, leading to the theft of nearly $58 million from over 63,000 victims in just nine months. Scam Sniffer, a platform dedicated to safeguarding Web3 users from scams, reported the most significant theft, where a victim lost $24 million in September.

Scammers continually adapt their infrastructure and tactics to maximize success and evade protective filters. Their strategies involve dispersing scam sites across various global regions and substituting genuine brand URLs with phishing sites behind the scenes.

This enables them to target victims in specific locations while presenting innocuous sites to auditors or security services scrutinizing other areas. By consistently adjusting sites and strategies, scam networks attempt to outsmart fraud detectors while maximizing their illicit crypto revenue from unsuspecting users.

It's noteworthy that the Drainer, commonly known as MS Drainer, is available on various forums. In contrast to other Wallet Drainers that are fully managed and charge a fee, MS Drainer offers its source code for purchase and can provide additional modules and features for extra fees.

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