tl;dr

Crypto scammers, known for using wallet drainers, are leaving the TON blockchain due to a shortage of whales, making it less profitable for their schemes. Scam Sniffer highlighted a TON wallet drainer shutting down its services, citing the shortage of whales. The scammers are now targeting the Bitco...

Crypto scammers are abandoning the TON blockchain due to a shortage of whales, making it less profitable for their schemes. A TON wallet drainer shut down its services, citing the shortage of whales. These scammers are now targeting the Bitcoin blockchain for more lucrative opportunities. Initially, they targeted TON due to increased value, but are now seeking more vulnerable targets as the network dries up for fraudulent activity.

The shortage of whales on the TON blockchain is attributed to controversial tokenomics and the abundance of crypto airdrops, which reduce the appeal for fraudsters. Although TON led Layer-1 transactions in September, driven by viral Telegram-based games and projects, scammers are now moving on to other platforms.

Wallet drainers, known for stealing cryptocurrency, are particularly prevalent. A TON wallet drainer shut down its services due to the shortage of whales and is now targeting the Bitcoin blockchain for more opportunities. The interest in TON arose amid increased value on the network, driven by clicker games with airdrops. Bad actors would leverage TON’s features to bait victims, causing substantial losses. As the TON network becomes less conducive to their schemes, scammers are seeking new, more vulnerable targets.

The shortage of whales on TON stems from controversial tokenomics and the abundance of crypto airdrops that reduce the appeal for scammers. TON led Layer-1 transactions in September, but scammers are now moving on to other platforms after the TON blockchain became less favorable for their activities.

Overall, the scarcity of whales on the TON blockchain and the changing landscape of fraudulent activity demonstrate the dynamic nature of cryptocurrency and the challenges it poses for scammers.

More about Planet Labs PBC

Company: Planet Labs PBC

Industry: Manufacturing, Radio & TV Broadcasting & Communications Equipment

Revenue: $657,386,000

Net Income: -$0.47

EPS: 0.82

PE Ratio: -0.577

Market Cap: $235,764,000

Dividend Yield: 3.96%

Beta: 0

Volatility: 0.136

More about Emeren Group Ltd

Emeren Group Ltd

ReneSola Ltd develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.

Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES

Market Cap: 147.102B

Dividend Yield: None

Beta (5Y Monthly): -0.31

Price/Earnings (TTM): 1.915

EPS (TTM): -0.163

Volume: 103.577M

1-Year Change: 4.38

Shares Outstanding: -0.924

Public Float: -0.112

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Based on the analysis of the stock's moving averages and RSI, a bullish trend is indicated, suggesting potential upward momentum.

The Bollinger Bands show a narrowing range, indicating decreased volatility and a possible upcoming price breakout.

The stock price has approached a significant resistance level, suggesting a potential barrier to further upward movement.

However, the formation of a head and shoulders pattern raises concerns about a possible trend reversal and a subsequent bearish outlook.

It's important to note that while the technical indicators lean towards a bullish sentiment, the potential resistance level and the head and shoulders pattern introduce significant elements of caution.

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Technical Analysis Report: Navigating Market Trends


Key Takeaways:


- The S&P 500 index has approached a critical support level at 4,200, signaling a potential reversal if breached.

- The RSI indicator suggests overbought conditions for several major tech stocks, indicating a possible upcoming correction.

- Gold prices are exhibiting a bullish trend, with a sustained breakout above the $1,800 resistance level.

- The 50-day moving average has crossed above the 200-day moving average for multiple energy sector stocks, signaling a potential bullish uptrend.


While these indicators present compelling insights, it's important to approach the market with caution, given the inherent uncertainties and risks involved.

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Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 1 Nov 24
 1 Nov 24
 1 Nov 24