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At the end of 2021, a myriad of people thought a handful of smart contract platform tokens, often referred to as ‘Ethereum killers,’ would flip the second-largest crypto asset in terms of market capitalization in 2022. As 2022 comes to an end, statistics show that none of the so-called ‘Ethereum killers’ have surpassed the leading smart contract platform token, and a number of these tokens have lost considerable amounts of value during the crypto winter. Ethereum Outperformed Its Competitors in terms of Market Cap, Decentralized Finance Action, and Non-Fungible Token Sales On Dec. 23, 2021, the top smart contract platform coins held an overall valuation of around $823 billion and at that time, ethereum’s (ETH) market capitalization represented 59.42% of the aggregate. Today, on Dec. 30, 2022, the crypto economy’s top smart contract platform coins are valued at $239 billion, and ETH’s market cap is roughly $144 billion. Data indicates that ETH’s market cap equates to 60.25% of the agg

Just the top 10 major cryptocurrency exploits garnered over $2 billion for malicious actors in a year that was marred with bankruptcies and collapses. It's been a turbulent year for the cryptocurrency industry — market prices have taken a huge dip, crypto giants have collapsed and billions have been stolen in crypto exploits and hacks. It was not even halfway through October when Chainalysis declared 2022 to be the “biggest year ever for hacking activity.” As of Dec. 29, the 10 largest exploits of 2022 have seen $2.1 billion stolen from crypto protocols. Below are those exploits and hacks, ranked from smallest to largest. 10: Beanstalk Farms exploit — $76M Stablecoin protocol Beanstalk Farms suffered a $76 million exploit on April 18 from an attacker using a flash loan to buy governance tokens. This was used to pass two proposals that inserted malicious smart contracts. The exploit was initially thought to have cost around $182 million as Beanstalk was drained of all its collater

Source: video screenshot, NBC News/YouTube In another installment of Sam Bankman-Fried’s legal woes in the aftermath of the collapse of crypto exchange FTX, the platform’s co-founder is now expected to enter a plea next week related to criminal charges he defrauded investors and stole billions of dollars in customer funds. The disgraced crypto boss is expected to be arraigned on January 3, 2023, before U.S. District Judge Lewis Kaplan in Manhattan federal court, as indicated by court records obtained by Reuters.  Kaplan was handed the case related to FTX's collapse on Tuesday after the initially assigned judge recused herself due to the fact that her husband's law firm had advised the crypto exchange. Earlier this month, SBF was arrested in The Bahamas after US prosecutors formally pressed charges against him. The businessman was eventually extradited to the US to face a number of criminal charges. Bankman-Fried was released from jail last week after posting

Bitcoin may in line for worse losses in the new year, analysts say, but BTC price action has a least fared better than TSLA. Bitcoin (BTC) circled $16,750 after the Dec. 28 Wall Street open after stocks dragged markets lower. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin analysts stick to downside fears Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it recovered from local lows of $16,559 on Bitstamp. After days of barely any movement up or down, Bitcoin finally saw a flicker of action as traditional Markets opened after the Christmas break. Unfortunately for bulls, volatility was to the downside, with BTC/USD seeing its lowest levels since Dec. 20. On equities markets, United States indexes improved after a weak first day, this nonetheless failing to leave much of an impression on BTC commentators, many of whom stuck to grim short-term price forecasts. “I can't stress this enough,” Toni Ghinea wrote in part of a Twitter update on the

Join Our Telegram channel to stay up to date on breaking news coverage Reports that negotiations regarding the possible acquisition of ailing rival crypto lender Vauld have been canceled have been refuted by Nexo. According to a source with knowledge of the situation, Vauld’s creditor committee, not its former CEO, will decide on the company’s future in Nexo’s eyes. In an email to the company’s creditors, Vauld founder and CEO Darshan Bathija stated that conversations with Nexo “had sadly not come to fruition,” which generated rumors that negotiations had broken down. In a step that is very similar to Chapter 11 bankruptcy under the U.S. Bankruptcy Code, Vauld filed for protection against creditors and lawsuits in a Singapore court at the beginning of June after ceasing withdrawals from its platform. According to reports, Vauld owed its creditors, including the now-defunct crypto currency exchange FTX, a total of $402 million. After Vauld’s problems became public, Nexo pro

Bitcoin and Ethereum are not part of the surprising list of five best and worst-performing cryptocurrencies for 2022. Cointelegraph looks back on the best and worst-performing crypto currencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022. Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing crypto currencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022. CIX100 weekly price chart. Source: TradingView Stablecoins are naturalomitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored. Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens, and others. Top five crypto of 2022 1. GMX (GMX) YTD return: 111% Sector: Decentralized Exchange Market Cap: $379.4 million GMX acts as a utility and a governance to