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A SocialFi protocol on Avalanche (AVAX) is targeted by the second attack in three consecutive days. It seems that the same malefactors might be exploiting a well-known vulnerability, while some commentators accuse the team of an insider job.
A closely followed crypto strategist is predicting Avalanche (AVAX) will undergo a massive surge due to one main reason. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,600 followers on the social media platform X that the Ethereum (ETH) rival could increase by more than 12% from its current value.
Stars Arena's operations work similarly to the Ethereum-based Friend.Tech project.
The newest viral application launched nearly a week ago and quickly gained a cult following.
Avalanche-based social token app Stars Arena has been exploited and its smart contract drained of all of its funds.
In a dynamic turn of events within the cryptocurrency market, Avalanche's native cryptocurrency, AVAX, has been making headlines with its recent surge in value. At the time of writing, AVAX is trading at an impressive $10.70, marking an 8.3% increase in the past 24 hours, according to data from CoinGecko.
The market has continued to constantly rise as the crypto industry has now experienced 5 out of 7 green days, indicating a high possibility of the month ending on a bullish note. Further, the AVAX price has performed well among altcoins, as the coin has been one of the top gainers for three straight days.
It was a positive Friday session for the crypto market. Stars Arena enjoyed more inflows, driving AVAX toward $11, while Ripple won post-Proper Party awards.
In an astonishing twist of events, the Avalanche (AVAX) blockchain has witnessed a remarkable resurgence in recent days, accompanied by a substantial increase in trading volume. This surge in activity can be largely attributed to the meteoric rise of StarsArena, a development that has sent shockwaves throughout the cryptocurrency community.
In recent trading sessions, the price of Avalanche (AVAX) has shown a notable reversal, flipping its previous downtrend as it finds support in the $8 demand zone. This resurgence reflects a growing accumulation of buyers in the market, bringing fresh signs of a turnaround.
Despite a now patched exploit that attempted to drain funds, Stars Arena continues to draw users to its platform.
The launch of Star Arena has resulted in an influx of new users to Avalanche, and this has driven up its daily transaction count and the value of its native token AVAX.
In the realm of crafting content, three pivotal elements take center stage: “perplexity,” “burstiness,” and “predictability.
Avalanche (AVAX) price was one of the best-performing cryptocurrencies in the market this week. The coin jumped to a high of $10.6 on Friday, the highest point since August 30th. It soared by more than 22% from the lowest point in September.
Separating real products from the fake could be challenging to say the least - that's where blockchain comes into play.
Avalanche rose to a six-week high on Friday, after the token climbed above a key resistance level. The move saw price rise by as much as 7%, despite the global crypto market cap mostly in the red in today's session. Toncoin remained higher, following recent gains.
The Avalanche (AVAX) price broke out from long- and short-term descending resistance trendlines.
The Stars Arena team has patched an exploit on their Avalanche-based social media platform, dismissing it as "coordinated FUD"
Blockticity, a pioneering force in blockchain and crypto-based certification, is transforming the hemp and cannabis industry by minting NFT certificates of analysis (COAs) on the Avalanche (AVA) blockchain.
Avalanche's socialFi app Stars Arena was hit by FUD as explosive claims of fundamental flaws and exploits casted aspersions.
Layer 1 blockchain network Avalanche is seeing increased momentum amid a deepening bear market. Moreover, Avalanche's native AVAX token is defying the lethargic crypto market by notching up big gains over the past week or so.
The social finance platforms industry is still in its early stages of seeing significant growth and rapid performance from a single app with a significant impact on usage statistics. Social finance platforms include Stars Arena, Friend.tech, Alpha on the Bitcoin network, Friendzy on Solana and PostTech on Arbitrum.
Transactions on Avalanche jumped nearly 50% since the start of the week, spurred by the recently launched SocialFi application Stars Arena.
In a dramatic turn of events, AVAX, the native cryptocurrency of the Avalanche network, has experienced a remarkable surge in value, soaring by an impressive 13% within the last 24 hours. This unexpected rally can be attributed to the highly-anticipated launch of Stars Arena, an innovative platform that has been built on top of the Avalanche blockchain.
