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📅2024 Predictions Round-Up
The Defiant Daily
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GM Defiers!
Wishing everyone a happy new year from The Defiant!
With 2023 in the books, web3 industry leaders are jostling to put out their predictions for what narratives and trends will dominate the crypto landscape in 2024. Check out our recap of the top predictions to know what could be in store for the year.
Plus, Tellor is under fire for depositing seven figures worth of its native TRB token amid alleged market manipulation, and Orbit Network is the latest cross-chain bridge to suffer a multi-million dollar exploit.
✍️ In today’s newsletter:
- 2024 predictions from web3 industry leaders
- TRB pump n dump stirs market manipulation accusations
- Orbit Network suffers $81.6M exploit
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📈 Markets in last 24 hrs:
| Ticker | Value | 24h |
|---|---|---|
| BTC | $42,075 | ↙ -1.23% |
| ETH | $2,300 | ↙ -1.95% |
| S&P 500 | $4,770 | ↙ -0.28% |
| GOLD | $2,072 | ↙ -0.1% |
| Arch WEB3 | 1.31pts | ↙ -1.31% |
| ↳ FINANCE | 1.25pts | ↙ -1.42% |
| ↳ INFRA | 1.43pts | ↙ -1.29% |
| ↳ CONSUMER | 1.49pts | ↙ -0.99% |
Learn more about Arch Indices here.
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Web3
Crypto Leaders Outline Predictions For 2024
TLDR We recap the top predictions from web3 industry leaders for what 2024 will have in store for the crypto sector.
SO WHAT Common forecasts include expectations Bitcoin will continue to lead the crypto markets, regulators will deliver greater clarity for the crypto sector, the growth of tokenization and increasing migration of real-world assets on-chain, the rise of modular blockchain architecture, and convergence of web3 and AI technologies.
READ MORE: Crypto Leaders Outline Predictions For 2024
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Markets
Tellor Accused Of TRB Market Manipulation After Violent Pump and Dump
TLDR The team behind Tellor, a smart contract oracle provider, is facing accusations of market manipulation after whales engineered a massive pump and dump targeting its native TRB token. TRB's price tripled in a single day, before give back all of its gains within just one hour.
SO WHAT On-chain researchers flagged a deposit of $2.4M worth of TRB from a wallet associated with the Tellor team to the Coinbase centralization exchange shortly before TRB bottomed out. The deposit has stirred speculation the Tellor team could be complicit in orchestrating the violent market action that drove $68M worth of liquidations for traders.
READ MORE: Tellor Accused of TRB Market Manipulation After Violent Pump and Dump
SPONSORED SHOUTOUT
Discover how Magic's WaaS is revolutionizing user experience in Web3, making platforms like social networks, NFT marketplaces, and games more accessible and user-friendly. Learn about its role in simplifying blockchain interactions, enhancing interfaces, and subsidizing gas fees for smoother user onboarding and transactions.
Plus, get insights on how the integration of Delegated Key Management Systems (DKMS) with WaaS boosts security and privacy, offering features like third-party HSM encryption and client-side key generation. This powerful combination is paving the way for secure, scalable, and user-centric Web3 applications.
Whether you're a developer or an enthusiast, this article is a must-read for anyone interested in the future of Web3 consumer app development.
Read the Article: https://thedefiant.io/leveraging-wallet-as-a-service-waas-for-superior-ux-and-performance-in-web3-applications
Exploits
Orbit Bridge Suffers $81.6M Exploit
TLDR Orbit Chain became the latest cross-chain bridge to suffer a major exploit when $81.6M worth ETH, WBTC, and stablecoins were stolen from its smart contracts on Dec. 31. The hacker consolidated most of the ill-gotten assets into Ether, which currently accounts for three-quarters of their holdings.
SO WHAT Cross-chain bridges comprise persistent honeypots for hackers within web3, accounting for four of the five largest DeFi exploits on record. North Korean hackers are responsible for the two largest attacks, raking in more than $1.2B from exploits targeting the Axie Infinity Ronin and Poly Network bridges alone.
READ MORE: Orbit Bridge Suffers $81.6M Exploit
Op-Ed
Linea's Journey Towards Progressive Decentralization: The Key to Minimizing Trust with Zero-Knowledge Technology
TLDR Declan Fox, the senior product manager for Linea at Consensys, delivers a call to action for rollup providers to outline plans for progressive decentralization and trust minimization. Fox also argues that zero-knowledge solutions are best poised to facilitate decentralized security.
SO WHAT Competition to scale Ethereum is heating up, with a new generation of zero-knowledge rollups seeking to dethrone the incumbent optimistic rollups in Arbitrum and Optimism.
🔎 OUR REPORTERS ARE WATCHING
🌍 ELSEWHERE
- Bitcoin rises past $45,000 amid US spot bitcoin ETF approval anticipation (The Block)
- Bitcoin NFT Sales Hit New Record for December 2023, What's Ahead in January? (CoinGape)
- Vitalik publishes detailed roadmap for the new year (CryptoSlate)
