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The cryptocurrency industry is never short of buzz, and today is just another day. Kraken creatively and successfully set a trap for a scammer, but not quite in the way one would think.
Meanwhile, altcoins Ripple (XRP) and Avalanche (AVAX) are recovering after a prolonged decline. Elsewhere on the market, the up-and-coming Ape Brigade (APES) is looking to enter the market, and they just might stir it up.
Kraken, the US-based CEX, has come up with a one-of-a-kind way to identify nefarious wallets. The exchange built a fake crypto account on its platform to "scam bait" bad actors.
Kraken's chief security officer Nick Percoco collaborated with popular streamer Kitboga, who plays non-tech-savvy characters to waste the time of call center scammers. In a recent video clip, Kitboga revealed that he used a custom environment built by Kraken to frustrate a scammer impersonating President Joe Biden. The scammer supplied a Kraken-hosted BTC wallet address, allowing the exchange to flag their activity.
This collaboration has provided a unique solution to the problem of scammers taking advantage of people. Kitboga has a large following on Twitch and YouTube, and his content generally revolves around playing non-tech-savvy characters and wasting scammers' time.
Many cryptocurrencies are currently experiencing an increase in their rates, suggesting a possible reversal point, and Ripple Lab's XRP has joined in. The altcoin's price has risen by 1.38% since Monday, but it has struggled to maintain a price above the $0.43 mark on the hourly chart.
However, if buyers can push the rate above this level, there is potential for a resistance breakout and a rise to $0.44. On the larger chart, the price of XRP has fallen below $0.4340, indicating that buyers are not yet ready to participate, making a drop to the $0.40 area likely until mid-May.
Regarding XRP's rate against Bitcoin (BTC) on the daily chart, it is approaching its previous day's low at 0.00001526. If it closes below that level, the decline may continue even below the zone of 0.000015. At the time of writing, XRP is trading at $0.4278.
The Avalanche (AVAX) price has seen a slight increase after a month-long decline, possibly taking off after the introduction of a new solution called GoGoPool. AVAX's price rose by less than 1% in the past 24 hours, but it is still a positive move. However, the total value locked (TVL) on Avalanche has been declining steadily since the beginning of May, dropping by 7% month-to-date to $753 million, according to DeFiLlama.
GoGoPool is aimed at reducing the cost of operating a validator node by allowing node operators to deliver infrastructure to Subnet builders quickly and inexpensively. Avalanche Subnets are used to create and deploy blockchain-specific applications, but the process was previously costly and required a high level of technical expertise. GoGoPool is a permissionless liquid-staking protocol that will use liquid staking and mini pools to reduce costs.
There is a new Ape in Meme Coin Town! Ape Brigade (APES) is a brand new DeFi meme coin that's currently in its presale stage but is causing quite the rumble.
You may ask, how? Well, there's a lot APES has to offer, and it's doing all the talk for them. For one, 20% of the total supply is locked in a bid to provide stability and liquidity to the token. APES is also an ERC-20 token, which means it is technologically advanced, and there is also an NFT Space in development.
Ape Brigade also has an incentivized staking system in place. Depending on how many tokens you have staked and for how long they have been staked, you can win rewards. In fact, 15% of the total supply is reserved exclusively for staking rewards.
The project's core is its objective to bring together a community of passionate people that care about wild animals-apes in particular. 10% of the total supply is reserved to be sent to charitable organizations that rescue apes and wildlife. It's clear that APES is a cryptocurrency with a heart!
Website: https://apebrigade.io/
Twitter: https://twitter.com/_ApeBrigade_
Telegram: https://t.me/ApeBrigadeOfficial
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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.
