In the last 24 hours, the global crypto market cap declined by 0.95 percent to $2.12 trillion, while the total crypto market volume grew by 2.26 percent.
Bitcoin lowered by 0.02 percent to 42.17 percent. The world’s largest cryptocurrency traded for around $47,000 on Wednesday morning.
On March 29, A blockchain company said that cryptocurrency worth almost $615 million from its systems was stolen by hackers.
The same blockchain company is used to power the popular Axie Infinity game, which uses non-fungible tokens (NFTs). It said in a blog post that the hacker had used stolen private keys – the passwords needed to examine crypto funds – to make off with the funds.
According to reports, one in three NFT collections have almost expired, with little or no trading activity, and the other third is trading below the amount it cost to issuers in minting the tokens.
Also, about 8,400 collections comprised of 19.3 million individual NFTs on the ETH blockchain. As projects pile up due to failure, long-time crypto observers are having flashbacks to the ICO bust, when thousands of digital tokens become worthless quickly after regulators warned they’re probably unregistered securities.