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We can say this is good news for the crypto market, as we could see a significant boost soon, as investors from the United Arab Emirates (UAE) plan to pour over $200 billion into altcoins.
As the crypto market is trying to recover and maybe finish its bearish trend soon, investors worldwide are looking for new investment options. They're particularly interested in utility tokens like DTX Exchange, Cardano (ADA), and Bitcoin Cash (BCH) because of their attractive features and the potential for high returns.
The Cardano (ADA) blockchain recently experienced a DDoS attack, but it had little impact on the mainnet. According to insiders, the attack started at Block 10,487,530 of Cardano (ADA). Despite ongoing attacks aimed at its smart contracts, Cardano (ADA) decentralized design kept the network fully operational by distributing the load and avoiding a single point of failure.
This attack was characterized by a spike in malicious activity attempting to disrupt operations. It began at Block 10,487,530, involving transactions that executed 194 REWARD-type smart contracts, each spending 0.9 ADA per transaction. Despite the attacker's efforts to overload the network with complex transactions, Cardano (ADA) decentralized structure prevented any major disruption.
Mt. Gox, once the world's largest Bitcoin exchange, is finally ready to repay Bitcoin (BTC) and Bitcoin Cash (BCH) its creditors after nearly a decade. The exchange's trustee, Nobuaki Kobayashi, announced that repayments in Bitcoin (BTC) and Bitcoin Cash (BCH) will begin in early July 2024. This decision follows extensive preparations to ensure the transactions are safe and compliant.
In total, 142,000 BTC, 143,000 Bitcoin Cash (BCH), and $432 million will be repaid. Over $9.4 billion worth of Bitcoin is owed to approximately 127,000 creditors, who have been waiting for more than 10 years to recover their funds after Mt. Gox collapsed in 2014 due to multiple unnoticed hacks.
After the attacks in Cardano (ADA) and repayment remaining in Bitcoin Cash (BCH), UAE’s investors' main focus has been shifted to the new hybrid exchange DTX. DTX Exchange is quickly becoming one of the most promising projects in the market, known for being cost-effective, scalable, and innovative.
This decentralized hybrid exchange blends the best aspects of centralized and decentralized exchanges. Since its launch, DTX Exchange has attracted significant investor interest and is gaining traction rapidly.
A major reason for its swift rise is the impressive performance of its token presale. In just two days, the project raised over $100K, and in a month, it surpassed $790K. Analysts have predicted over 100x returns on investment, fueling even more interest in investors. All these great fundamentals have been the reason for attraction for UAE investors.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
