Blockchain security watchdog PeckShield has posted a warning on its Twitter account cautioning all users of fitness app STEPN that it has “detected a bath of @Stepnofficial phishing sites”. These sites contain a fake MetaMask browser extension and are stealing people’s crypto:
The fitness-based app is the latest prime target for scammers across the web. The STEPN community is growing rapidly, as more and more users sign up everyday and download the app. This has created the perfect sea for hackers to cast their nets wide and lure their prey through fugazi phishing sites. Fake STEPN websites are popping up everywhere and setting off alarm bells atPeckShield Alert.
Scammers have been stealing crypto after tricking users into entering their seed phrases into dodgy MetaMask wallets. Another scenario is where users are fooled into connecting their real wallet to a bad actor’s site under the guise of claiming a “giveaway”.
PeckShield provides a popular resource for the crypto community to keep up-to-date with the most recent hacks and phishing scams. Due to its recent surge in popularity, the STEPN platform has become a focus for scammers.
STEPN Overtakes Axie in Google Searches
STEPN, whose move-to-earn token has soared 217x in 2022, is a decentralised application (dApp) powered by the Solana blockchain. Following the success of the hugely popular play-to-earn game Axie Infinity, “STEPN” has been searched for more times around the world than the term “Axie”, according to Google statistics.
STEPN’s appeal is easy to understand – who wouldn’t want to get paid in Solana for going for walks and runs? As the game’s community continues to grow, and more users download the STEPN app, unfortunately so does activity from seasoned hackers.
Warning: Do Not Connect Wallets to Fake STEPN Websites
STEPN has only one official website. Do not visit or connect your wallet to any other fake site, even if it resembles the official STEPN branding. These fake phishing websites can look very similar and, in many cases, almost identical to the real thing. Always double-check you are on the official website and minimise making any costly mistakes by accessing the STEPN platform only through links via the official STEPN website, or associated social accounts.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Zcash (ZEC)
Zcash ZEC is a decentralised cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions. Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent.
ZEC Price Analysis
At the time of writing, ZEC is ranked the 50th cryptocurrency globally and the current price is US$158.86. Let’s take a look at the chart below for price analysis:
ZEC‘s recent bearish flip of the 9, 18, and 40 EMAs might cause bulls to be less aggressive in bidding. However, possible support near $146.47 and $155.96 – between the 41.8% and 58.6% retracements – could see at least a short-term bounce.
Last year’s long-term consolidation suggests that the areas near $138.23 may be more likely to cause a longer-term trend reversal.
Bears are likely to add to their shorts at probable resistance beginning near $168.50, which has confluence with the 18 EMA. A fast break of this resistance could trigger more selling near $190.12, the start of the bearish move.
If an aggressive bullish move does appear, trapped buyers in the probable resistance beginning near $210.32 might provide a ceiling for this impulse.
2. Solana (SOL)
Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
SOL Price Analysis
At the time of writing, SOL is ranked the 7th cryptocurrency globally and the current price is US$99.11. Let’s take a look at the chart below for price analysis:
SOL has retraced 68% from its December highs and reached possible support last month near $89.34. Resistance might begin near $120.34, which has confluence with the 9 and 18 EMAs.
A more substantial rally might reach near the swing high at $110.23 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.
While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $126.42 and $133.94. This zone is where the last movement down accumulated positions before breaking down.
Possible support rests near $96.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $91.10 and $87.54. If the price reaches this zone, the May 2021 swing high near $82.13 might mark a more sensitive level.
3. Smooth Love Potion (SLP)
Smooth Love Potion SLP tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets known as Axies. The cost of breeding begins at 100 SLP but increases gradually, rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
SLP Price Analysis
At the time of writing, SLP is ranked the 420th cryptocurrency globally and the current price is US$0.01547. Let’s take a look at the chart below for price analysis:
SLP‘s 65% rally during Q1 ran into a 30% retracement near $0.01615. Since then, the price has been consolidating in a 40% range between $0.01424 and $0.02432.
Just below the late-March low, $0.01500 is the first level likely to provide substantial support. If the price breaks down through this level, overlapping levels near $0.01458 might cap a run on the lows near $0.01410 and $0.01385.
The higher-timeframe analysis points to the area near $0.02351 as the next substantial resistance. Significant selling has been occurring here on the daily chart. If this level breaks, the swing highs near $0.02827 and $0.03060 may be the next targets.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
Active types can now get paid to exercise and breathe in the fresh outdoor air with new Australian fitness app STEPN – an NFT-based play-to-move Web3 crypto “game” powered by the Solana blockchain.
You can earn $5 for every Kilometre you run using $STEPN
I bought 20 pairs of shoes that I’m starting to rent out for free to other application users
I get 50% of the rewards from the shoes meaning passively per day i can earn $250 from 20 people running and walking 5km!
Following in the footsteps of Genopets – the first move-to-earn NFT crypto game developed on Solana – STEPN is basically a mash-up of Apple’s step-counting Health app with Axie Infinity-style play-to-earn (P2E) tokenomics.
With over half a million downloads so far on Android alone, STEPN has taken off and so has its governance token, $GMT.
STEPN’s Green Metaverse Token (GMT) has sprinted upwards, increasing five-fold in value over the past month, from US$0.65 to an all-time high of US$3.79. $GMT is the token required for making upgrades to the App’s in-game NFT virtual sneakers. GMT’s market cap is now over US$2 billion and the token is currently ranked #60.
The most recent 26 percent spike came after STEPN announced a partnership with Japanese sports apparel giant Asics on April 18 via Twitter, launching a sneaker sale on the Binance NFT marketplace. Selected subscribers will be able to purchase the first STEPN sneakers on the BNB Chain version of the game:
— STEPN | Public Beta Phase III (@Stepnofficial) April 18, 2022
Earn Crypto Exercising Outside
Users can earn crypto by walking or running with the STEPN App. The app tracks movement via your phone’s GPS and rewards are paid in STEPN’s game token: Green Satoshi Token (GST), which can be traded for USD Coin (USDC) or Solana (SOL).
Players begin by choosing a fitness level that suits their goals, which also determines how many tokens can be earned using the app. The four tiers are divided by different types of virtual sneakers: walker, jogger, runner or trainer. STEPN sneaker NFTs can be found and purchased from the in-app marketplace. Check the stepn.com website for full instructions on how to play.
Since the game has taken off, the price to get started playing has elevated accordingly. Currently the floor price for a pair of sneakers is 13.67 SOL (US$1,400+). Participants in the upcoming STEPN Shoebox sale on Binance will be offered mystery boxes containing a pair of NFT Sneakers of random quality and type, for 0.5 BNB (US$210).
STEPN plans to implement a sneaker-rental feature, coming soon to combat the high cost to entry.
How to Start STEPN
Download the app from the App store (available for Android and Apple) and log in with your email address and verification code.
Get verified. Join the official Discord and Telegram channels and get your activation code to enter the app on your phone. Note: due to popular demand, the development team is only releasing 1000 activation codes per day via Discord and 1000 per day via Telegram. You have to be quick, as codes refresh at midnightAEDT. You can also follow @Stepnofficial on Twitter for more activation code releases.
Link your Solana wallet in the STEPN app and purchase your first pair of virtual sneakers from the STEPN marketplace. Sneakers can be customised and enhanced to increase token rewards.
STEPN buzz continues to gain traction amid rumours of further upcoming partnership announcements with other big shoe brands, including Nike and Adidas. Since the STEPN token sale in March, the app is off to a flying start, but it’s a marathon, not a sprint. Whether the move-to-earn model can prove sustainable over time will be the real test, but for now STEPN is showing no signs of slowing down.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Solana (SOL)
Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
SOL Price Analysis
At the time of writing, SOL is ranked the 6th cryptocurrency globally and the current price is US$113.76. Let’s take a look at the chart below for price analysis:
SOL has retraced 60% from its December highs and reached possible support last month near $85.34. Resistance might begin near $115.24, which has confluence with the 9 and 18 EMAs.
A more substantial rally might reach near the swing high at $120.23 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.
While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $126.42 and $139.94. This zone is where the last movement down accumulated positions before breaking down.
Possible support rests near $105.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $96.10 and $90.54. If the price reaches this zone, the May 2021 swing high near $84.13 might mark a more sensitive level.
2. Terra (LUNA)
Terra LUNA is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its whitepaper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin, and offers fast and affordable settlements. Terra’s native token, LUNA, is used to stabilise the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.
LUNA Price Analysis
At the time of writing, LUNA is ranked the 9th cryptocurrency globally and the current price is US$94.89. Let’s take a look at the chart below for price analysis:
LUNA showed significant strength in the face of a mostly bearish altcoin market, rallying over 95% during Q1.
The price is currently retracing from resistance near $114.90, just below the all-time high. Bulls might begin eyeing entries near $90.00, which will soon be near the 18 EMA and between the 61.8% and 78.6% retracement levels of the last leg upward.
A deeper retracement might reach an inefficient zone and the 40 EMA under the last daily swing low, between $87.44 and $84.07. A move below this low suggests a more bearish shift in market structure. If this shift occurs, it could create a short setup to target possible support at the upmove’s accumulation zone, near $79.41.
While the price is retracing, $98.44 offers the closest probable resistance at the yearly open. Just above, near the March monthly open, the consolidation lows near $101.69 are also a reasonable candidate for resistance.
If the price breaks through these resistances, the significant resistance at $107.69 might also break and allow LUNA to set new monthly highs. However, bulls should keep in mind that the overall market is mostly bearish, decreasing the chances of a massive bullish breakout. If the price does break the all-time high and enter discovery, overlapping extensions near $125.40 offer a possible significant target.
3. Tron (TRX)
Tron TRX is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a capacity for 2,000 TPS. This project is best described as a decentralised platform focused on content sharing and entertainment and to this end, one of its biggest acquisitions was the file-sharing service BitTorrent in 2018. Overall, TRON has divided its goals into six phases. These include delivering simple distributed file sharing, driving content creation through financial rewards.
TRX Price Analysis
At the time of writing, TRX is ranked the 25th cryptocurrency globally and the current price is US$0.06387. Let’s take a look at the chart below for price analysis:
TRX accompanied the rest of the market during the January drop, falling nearly 50% from its mid-December high until it found a low early in February.
Price action formed a weekly support level near $0.06154, which has so far held up the price. The most recent swing low inside this range, near $0.05929, might be the target for any future stop runs. After this low, the swing low near $0.05789 and the gap beginning near $0.05555 mark possible higher-timeframe support.
The price is currently battling with significant higher-timeframe resistance levels, with the closest probable resistance resting near $0.07092, just over the previous monthly open. A sweep of the relatively equal highs above this resistance might find sellers near $0.07535 – but could reach as high as $0.08137.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
A report released by crypto asset management firm CoinShares shows that institutional crypto funds have seen their biggest capital inflows since December 2021, with over US$193 million pouring into the funds during the week ending March 25.
Of the total inflows, European-based funds saw US$147 million, or around 76 percent, while a relatively paltry US$45 million went into US-based funds.
Bitcoin-focused funds were by far the most popular investment product, seeing US$97.8 in inflows, bringing total inflows since the start of 2022 to US$162 million.
Solana Funds Had Their Best Week, Most Altcoins Did Well
This was the single best week ever for Solana funds, with over US$87 million pouring in – representing 36 percent of assets under management, which now stand at a total of US$241 million. This makes Solana the fifth-largest investment product and the second-largest altcoin behind Ethereum.
Ethereum-focused funds were the second most popular altcoin, with US$10.2 million in inflows; Cardano-focused funds saw US$1.8 million; Polkadot-focused US$1.2 million, and ATOM-focused funds saw around US$800,000.
Flows by asset. Source: CoinShare
Multi-asset funds bucked the trend and recorded US$5.5 million in outflows, which was a surprise since they’ve been relatively popular recently – this being only the second week this year they’ve seen net outflows.
Cashio, a Solana-based algorithmic stablecoin project, has been exploited for US$52.8 million in an “infinite mint glitch”. Following the attack, the project’s total locked value (TVL) dropped from over US$28 million to US$579,701, and the project’s stablecoin CASH took a nosedive from US$1 to zero.
Cashio developer oxGhostChain took to Twitter to warn people “not to mint any CASH” and added that the team “are investigating the issue and we believe we have found the root cause. Please withdraw your funds from pools. We will publish a postmortem ASAP”:
Please do not mint any CASH. There is an infinite mint glitch.
We are investigating the issue and we believe we have found the root cause. Please withdraw your funds from pools. We will publish a postmortem ASAP.
The attack was initially believed to have only siphoned off US$28 million from Cashio’s protocol, but after investigations the results were bleak, as was the reaction on Twitter:
CASH price drop following the attack. Source: DeFi Llama
Anyone can mint tokens on the platform by depositing liquidity tokens for the two stablecoins USDC and USDT from the Saber platform. Thereafter, users can redeem the stablecoin for the underlying liquidity tokens.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform whose stated goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals”, helping to create a society that is more secure, transparent, and fair. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
ADA Price Analysis
At the time of writing, ADA is ranked the 7th cryptocurrency globally and the current price is US$1.08. Let’s take a look at the chart below for price analysis:
ADA‘s near 65% drop during Q3 found a low near $0.7835 last week before closing over a short-term high.
This daily close over the high could signal a shift in market structure that may reach probable resistance near $1.10. A sustained bullish move may target the swing high at $1.14. If this stop run occurs, a run beyond the high into probable resistance near $1.25 and $1.33 is possible.
Bulls could buy a retracement to possible support near $0.9240, just above the weekly open. A bearish turn in the marketplace may propel the price toward possible support near $0.8725.
However, relatively equal lows near $0.8357 and $0.8022 provide an attractive target for bears if the market resumes its bearish trend. A run on these lows might find support between $0.7847 and $0.7352.
2. Solana (SOL)
Solana SOL is a highly functional open-source project that banks on blockchain technology’s permissionless nature to provide decentralised finance (DeFi) solutions. The Solana protocol is designed to facilitate decentralised app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.
SOL Price Analysis
At the time of writing, SOL is ranked the 9th cryptocurrency globally and the current price is US$94.76. Let’s take a look at the chart below for price analysis:
SOL has retraced 71% from its November all-time high and reached possible support last week near $82.34. Resistance might begin near $98.24, which has confluence with the 9 and 18 EMAs.
A more substantial rally might reach near the swing high at $110.23 and the 40 EMA. This high is less likely to break if bears plan to continue the downtrend without a lengthier consolidation.
While not highly probable in the current market conditions, a more animated move upward could reach a wide resistance area between $123.42 and $135.94. This zone is where the last movement down accumulated positions before breaking down.
Possible support rests near $80.34, which showed sensitivity on the last test. While it could provide support again, the higher-timeframe bearish trend is more likely to propel the price into an inefficient area between $76.10 and $70.54. If the price reaches this zone, the May 2021 swing high near $64.13 might mark a more sensitive level.
3. Loopring (LRC)
LRC is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralised crypto exchanges. Loopring’s purported goal is to combine centralised order matching with decentralised on-blockchain order settlement into a hybridised product that will take the best aspects of both centralised and decentralised exchanges.
LRC Price Analysis
At the time of writing, LRC is ranked the 67th cryptocurrency globally and the current price is US$1.09. Let’s take a look at the chart below for price analysis:
LRC lifted off last week, with the impulse sweeping the new swing highs into resistance up to $1.14.
If the price retraces now that it has taken highs, aggressive bulls could look for entries at the recently broken resistance between $1.06 and $0.9950. A deeper retracement that fills the gap down to the monthly level at $0.9460 provides a better entry, with any quick drops near the monthly open at $0.9058 providing the most favourable entries.
Continuation through the current resistance around $1.19 is likely to explode through the remaining daily highs stacked up to $1.28. There’s no telling how far the price could go beyond these new monthly high prices.
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
STEPN token has soared 128 percent following its Web 3.0 token sale. The app allows users to earn money while exercising and adds to the very small market of move-to-earn. STEPN joins Genopets which was the first move-to-earn initiative.
Yoyoyo Thor! This is a "game" where You can earn money for walk, jog, run or train. The higher effort You put in, the more money You'll make.
Every 6h energy is refilled and then You go out and burn that energy which make You earn $GST (the in-game token)
STEPN is a Web3 lifestyle app built with in-game GameFi and Social-Fi elements. Players can make “handsome earnings by walking, jogging, or running outdoors”, according to the project’s website. The first project to bring to life a functioning move-to-earn concept, STEPN finished in fourth place out of 500+ projects at the Solana Ignition hackathon 2021.
Trailblazer rewards will be distributed between 15th and 17th March. This should distribute 0.75% of the total circulating GMT tokens to over 5,000 qualified users, an airdrop of about 45 million GMT tokens! We would like to thank everyone's support, and please stay tuned! pic.twitter.com/uOcDo5qcxb
— STEPN | Public Beta Phase III (@Stepnofficial) March 14, 2022
Users in the game equip themselves with NFTs in the form of sneakers. Through movement, users earn game currency to be used in-game or cashed out for profit.
Towards Wider Web3 Adoption
The goal of STEPN is to utilise GameFi to move millions of people towards a healthier lifestyle, combat climate change, and connect the public to Web 3.0. Along with all of that, the project hinges on its Social-Fi aspect to build a long-lasting platform to foster user-generated Web 3.0 content.
Naturally, users are excited and many took to Twitter to share their elation:
— Matthew Howells-Barby Ξ mhb.eth (@matthewbarby) March 1, 2022
Move-to-Earn Is On the Move
STEPN joins Genopets, the world’s first mobile move-to-earn NFT game that aims to bridge the physical and digital worlds. Genopets, like STEPN, is built on the Solana blockchain and allows users to create an NFT connected to their fitness data.
Phantom is a Solana wallet built for decentralised finance (DeFi) applications as well as for NFTs. QuickNode, a Miami-based Web3 infrastructure platform, helped build out this feature with Adobe on Solana.
A More Viable Alternative to Ethereum
Although Behance creators can already display their NFTs minted on the Ethereum blockchain within their profiles, high energy usage and prohibitive gas costs are driving them away.
As Adobe vice-president William Allen pointed out on Twitter this week, Solana is a proof-of-stake chain that addresses these concerns. He added that a single transaction on Solana “uses as much energy as a Google search and costs a fraction of a penny”.
For its part, Phantom tweeted that this integration is “huge” for the Solana creator economy because it allows artists “an eco-friendly and low-cost way to experiment with NFTs”.
We’re excited for NFTs to be integrated into creative platforms like @Behance. Artists will have an eco-friendly and low-cost way to experiment with NFTs and showcase their work.
In October last year, Adobe announced it would launch a “prepare as NFT” option to its Photoshop software. Adobe’s Content Credential system would prove that the person selling an NFT is the one who made it and allow NFT sellers to link the Adobe ID with their crypto wallets. This would allow compatible NFT marketplaces to show a verification certificate to prove the art is authentic.
Images allegedly leaked from the leading NFT marketplace, OpenSea, indicate that the platform may soon introduce Solana-based NFTs. The images were discovered by tech blogger Jane Manchun Wong, well known for leaking information about yet-to-be-released features from specific technology platforms:
OpenSea is the market leader when it comes to NFTs and, as it stands, supports both the Ethereum and Polygon blockchain networks. Since its inception, OpenSea has recorded about US$22.73 billion in NFT sales, with 1,358,052 traders leveraging the platform.
Wong Gets It Right Again?
Wong, who in December was also first to report that Twitter would integrate Ethereum into ‘Tip Jar’, tweeted in January that “OpenSea is working on Solana integration, as well as Phantom wallet support”. She added: “OpenSea’s Chains Filter [shows] Solana as an option.”
This discovery is not the first time rumours of OpenSea adding Solana features have surfaced. The animator and Solana advocate @bhaleyart tweeted a similar image of OpenSea’s blockchain filter in mid-November:
White hat hackers, also known as ethical hackers, have been widely active of late in the crypto space. Apart from leaking information, they have saved many companies from attacks. Just a couple of weeks ago, a white hat hacker chose to accept a US$2 million bounty instead of “printing unlimited Ethereum”.
