Two Under-the-Radar Altcoins Continue To Skyrocket This Week Amid Official Coinbase Trading Rollout

Top US-based crypto exchange Coinbase is rolling out official trading support for two red-hot altcoins, sparking further rallies. Coinbase customers can now trade security-focused decentralized finance (DeFi) crypto Threshold (T) and decentralized music project Audius (AUDIO).

Timeline of Audius, Threshold

Last year, NUCypher and KEEP Network merged and created the Threshold Network, a decentralized organization that addresses the myriad of privacy and security concerns in the blockchain space. Its utility and governance token, T, has been on the rise since the start of 2023 as the network produced more buzz.

Threshold (CRYPTO: T) shot up 11.45% to $0.053 on Tuesday evening even as the rally in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) lost momentum. What Happened: The utility token of the project that came into being due to the on-chain merger of NuCypher and Keep Network in January 2022 has shot up 137.50% over a seven-day period.

Threshold (CRYPTO: T) is up over 94%, hours after Coinbase (NASDAQ: COIN) said it is adding it to its listing roadmap. What Happened: Threshold is a small-cap altcoin project built on Ethereum (CRYPTO: ETH).

Several web3 companies including Magic Eden and Audius are integrating with Stripe to enable fiat purchases of crypto on their platform. The post Magic Eden, Audius and Argent among Stripe's new partners for crypto onramp appeared first on The Block.

Audius aims to become the go-to metaverse concert platform via its acquisition of SoundStage, which provides virtual music experiences. The post Decentralized music startup Audius aims to provide virtual concerts via SoundStage acquisition appeared first on The Block.

If you are acquainted with the music biz, you must be aware of how middlemen typically take advantage of the musicians. Audius intends to counter this setback by enabling artists to publish their music and engage with their audience without involving any intermediaries. The platform's user interface is similarly very simple and easy to navigate.

NFT Music Platform Audius has confirmed that it was exploited by cybercriminals, costing the crypto company around $6 million. As a decentralized platform, Audius is a music streaming and sharing platform that puts the power back into the hands of content creators.

Decentralized music streaming platform Audius was exploited on July 23 when an attacker exploited a vulnerability in its governance smart contract code. The post Attackers stole $6 million from Audius by exploiting a bug in the contract appeared first on CryptoSlate.

Hacks within the cryptocurrency domain are very frequent. Recently, a decentralized music platform Auduis suffered as it lost 18.5 million AUDIO tokens ($6m) following a malicious attack.

The Audius contracts on the Ethereum mainnet were compromised due to a bug in the contract initialization code. This bug made it possible for the attacker to transfer about 18 million AUDIO tokens.