Pixelverse has announced the integration of the Pudgy Penguins character into its mini-game on Telegram, joining popular crypto characters like Doge from Dogecoin and Mew from Solana’s memecoin. This integration comes as the NFT market experienced a significant downturn in Q2 2024, with sales volumes dropping by 45% from Q1. Despite the downturn, the NFT space is seen as maturing, with Web3 gaming driving adoption. Pixelverse’s mini-game, PixelTap, reached over 50 million users in its first month. Pudgy Penguins remains a strong player in the Ethereum-based NFT market, with notable sales and a successful plush toy line. Telegram’s game Hamster Kombat also saw massive user engagement, highlighting the potential for blockchain adoption.

Li.Fi Protocol Hacked, Over $10 Million in Crypto Stolen

On July 16, the Li.Fi protocol, an API for Ethereum Virtual Machine and Solana swaps and bridging, suffered a security breach that resulted in the loss of over $10 million in cryptocurrencies. Hackers exploited a specific contract address, draining the funds before the attack was mitigated. Li.Fi has disabled the affected smart contract and is working with law enforcement and security teams to trace the stolen funds. Users were advised to revoke approvals for certain addresses to prevent further losses. This incident highlights the risks of granting wallet approvals to smart contracts. Additionally, the decentralized finance protocol Dough Finance recently experienced a $1.8 million flash loan attack.

Bitcoin Hits $66K: Bulls Eye New Highs Despite $100M Resistance

Bitcoin’s price surged to $66,000 on July 17, marking a 15% gain in less than a week. This rise came despite sell-side pressure from coins linked to the defunct exchange Mt. Gox. Analysts highlighted the importance of maintaining this upward momentum to reach all-time highs. There is significant resistance ahead, with around 1,500 BTC ($100 million) of asks up to $70,000 on Binance. Traders emphasized the need for substantial buyer activity to overcome this hurdle. Additionally, Bitcoin exchange-traded funds (ETFs) in the U.S. saw net inflows of $422 million on July 16, indicating strong investor interest.

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