Bitget Downloads Surpass MetaMask's
User Mistakenly Pays $90k For $2k ETH Transaction, SHIB Community Warned About Fake Airdrops
Bitget Wallet, owned by the exchange Bitget, has surpassed MetaMask in downloads last month by 100,000 with 1.6 million, according to CryptoRank.
In a twitter post, CryptoRank shared the download numbers of all the leading exchanges. MetaMask: 1.5M, Phantom: 667k, Coinbase: 475k, SafePal: 157k...
Bitget Wallet's COO said the growth of downloads is due to on-chain trading, especially involving memecoins with massive transaction flows this year.
The wallet is also very popular because it was one of the first to support the mainnet of TON, and because of the Bitget Wallet Token launch in March.
Bitget's user base grew by ~50% to 30 millon since the BWB token launch, where new users joined to stake, participate in the governance and get airdropped the tokens.
Users from Japan and Nigeria are rapidly entering Bitget, although Italy, Australia, and Sweden are the fastest-growing countries on the platform.
MetaMask still remains the most downloaded wallet; it has been inside most web3 users' devices for a while now.
Market Update
News
Ethereum User Pays $90,000 in Gas Fees for $2,000 Transfer
The user intended to transfer 0.87 ETH, which is approximately $2,262. However, due to an error in setting the transaction fee, they ended up paying 34.26 ETH in gas fees, amounting to $89,239, in a “fat finger“ error. "Fat finger" are mistakes made when entering transaction details, often resulting in unintended financial consequences. | Read More
Ethereum Accounts for 88% of Crypto Investment Products
Out of the $176 million inflow, Ethereum accounted for a whopping $155 million. This highlights Ethereum's strong position in the market. Investors took advantage of recent price dips, leading to a surge in Ethereum investments. Year-to-date, Ethereum has seen inflows reaching $862 million, largely from ETFs. | Read More
Binance to Convert Monero, Other Tokens to USDC Amid Regulatory Pressures
Starting September 2, 2024, Binance will begin converting balances of XMR and 14 other tokens to USDC. This conversion process will be based on average exchange rates observed between September 2, 2024, and March 1, 2025. The entire conversion is expected to be completed by March 1, 2025. | Read More
Shiba Inu Community Warned of Rising Fake Airdrop Scams
The official Shiba Inu scam alert channel, Shibarmy Scam Alerts, has issued a critical warning about fake airdrop groups. These groups lure participants with the promise of free tokens in exchange for completing tasks. Users are tricked into connecting their wallets to suspicious websites. | Read More
Marathon Digital to Raise $250M for Bitcoin Expansion
Marathon Digital plans to raise $250 million by selling convertible notes in a private placement, for Bitcoin operations expansion. Convertible notes are a type of debt that can be converted into company equity. This method allows Marathon to secure immediate funds while providing investors with the potential for future equity. | Read More