• bitcoinBitcoin (BTC) $ 115,771.00
  • ethereumEthereum (ETH) $ 4,483.88
  • xrpXRP (XRP) $ 3.02
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 950.69
  • solanaSolana (SOL) $ 233.81
  • usd-coinUSDC (USDC) $ 0.999707
  • dogecoinDogecoin (DOGE) $ 0.264843
  • staked-etherLido Staked Ether (STETH) $ 4,480.63
  • tronTRON (TRX) $ 0.340076
  • cardanoCardano (ADA) $ 0.866750
  • wrapped-stethWrapped stETH (WSTETH) $ 5,440.24
  • chainlinkChainlink (LINK) $ 22.95
  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 4,836.88
  • hyperliquidHyperliquid (HYPE) $ 54.66
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 115,673.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • suiSui (SUI) $ 3.55
  • avalanche-2Avalanche (AVAX) $ 29.52
  • figure-helocFigure Heloc (FIGR_HELOC) $ 0.994678
  • stellarStellar (XLM) $ 0.384439
  • wrapped-eethWrapped eETH (WEETH) $ 4,825.41
  • bitcoin-cashBitcoin Cash (BCH) $ 592.99
  • wethWETH (WETH) $ 4,484.83
  • hedera-hashgraphHedera (HBAR) $ 0.233673
  • leo-tokenLEO Token (LEO) $ 9.52
  • litecoinLitecoin (LTC) $ 113.86
  • crypto-com-chainCronos (CRO) $ 0.229022
  • usdsUSDS (USDS) $ 0.999434
  • the-open-networkToncoin (TON) $ 3.10
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 115,829.00
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • polkadotPolkadot (DOT) $ 4.16
  • whitebitWhiteBIT Coin (WBT) $ 43.51
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.20
  • world-liberty-financialWorld Liberty Financial (WLFI) $ 0.214131
  • uniswapUniswap (UNI) $ 9.20
  • moneroMonero (XMR) $ 293.89
  • mantleMantle (MNT) $ 1.63
  • ethenaEthena (ENA) $ 0.689254
  • bitget-tokenBitget Token (BGB) $ 4.98
  • daiDai (DAI) $ 1.00
  • pepePepe (PEPE) $ 0.000011
  • aaveAave (AAVE) $ 293.28
  • memecoreMemeCore (M) $ 2.41
  • okbOKB (OKB) $ 192.11
  • jito-staked-solJito Staked SOL (JITOSOL) $ 287.76
  • myx-financeMYX Finance (MYX) $ 17.97
  • nearNEAR Protocol (NEAR) $ 2.66
  • bittensorBittensor (TAO) $ 343.71
  • ondo-financeOndo (ONDO) $ 1.01
  • story-2Story (IP) $ 10.10
  • ethereum-classicEthereum Classic (ETC) $ 20.22
  • worldcoin-wldWorldcoin (WLD) $ 1.51
  • aptosAptos (APT) $ 4.38
  • binance-staked-solBinance Staked SOL (BNSOL) $ 250.87
  • pi-networkPi Network (PI) $ 0.354767
  • usdt0USDT0 (USDT0) $ 1.00
  • pump-funPump.fun (PUMP) $ 0.007619
  • binance-peg-wethBinance-Peg WETH (WETH) $ 4,483.63
  • usd1-wlfiUSD1 (USD1) $ 0.999620
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.251358
  • arbitrumArbitrum (ARB) $ 0.487966
  • internet-computerInternet Computer (ICP) $ 4.67
  • kaspaKaspa (KAS) $ 0.084621
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 5.79
  • kinetic-staked-hypeKinetiq Staked HYPE (KHYPE) $ 54.82
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • cosmosCosmos Hub (ATOM) $ 4.47
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.033199
  • vechainVeChain (VET) $ 0.023987
  • susdssUSDS (SUSDS) $ 1.07
  • algorandAlgorand (ALGO) $ 0.233202
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 4,729.77
  • rocket-pool-ethRocket Pool ETH (RETH) $ 5,124.11
  • kucoin-sharesKuCoin (KCS) $ 15.87
  • gatechain-tokenGate (GT) $ 16.88
  • render-tokenRender (RENDER) $ 3.79
  • fasttokenFasttoken (FTN) $ 4.48
  • sei-networkSei (SEI) $ 0.310110
  • falcon-financeFalcon USD (USDF) $ 1.00
  • hash-2Provenance Blockchain (HASH) $ 0.037933
  • bonkBonk (BONK) $ 0.000024
  • usdtbUSDtb (USDTB) $ 0.999444
  • skySky (SKY) $ 0.077089
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  • filecoinFilecoin (FIL) $ 2.47
  • bfusdBFUSD (BFUSD) $ 0.999859
  • official-trumpOfficial Trump (TRUMP) $ 8.48
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 4,724.11
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.631843
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 4,847.45
  • jupiter-exchange-solanaJupiter (JUP) $ 0.505088
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 115,731.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 4,749.91
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 1.00
  • tether-goldTether Gold (XAUT) $ 3,694.53
  • immutable-xImmutable (IMX) $ 0.710266
  • xdce-crowd-saleXDC Network (XDC) $ 0.076968
  • optimismOptimism (OP) $ 0.761608
  • injective-protocolInjective (INJ) $ 13.64
  • celestiaCelestia (TIA) $ 1.69
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 266.08
  • paypal-usdPayPal USD (PYUSD) $ 0.999558
  • nexoNEXO (NEXO) $ 1.28
  • wbnbWrapped BNB (WBNB) $ 950.72
  • spx6900SPX6900 (SPX) $ 1.28
  • mantle-staked-etherMantle Staked Ether (METH) $ 4,804.75
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 115,143.00
  • blockstackStacks (STX) $ 0.643333
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.997695
  • aerodrome-financeAerodrome Finance (AERO) $ 1.27
  • sonic-3Sonic (S) $ 0.297984
  • syrupusdcsyrupUSDC (SYRUPUSDC) $ 1.12
  • pax-goldPAX Gold (PAXG) $ 3,694.83
  • lido-daoLido DAO (LDO) $ 1.18
  • msolMarinade Staked SOL (MSOL) $ 309.60
  • saros-financeSaros (SAROS) $ 0.404503
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999606
  • curve-dao-tokenCurve DAO (CRV) $ 0.729903
  • super-oethSuper OETH (SUPEROETH) $ 4,487.01
  • the-graphThe Graph (GRT) $ 0.092826
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 115,749.00
  • pyth-networkPyth Network (PYTH) $ 0.160510
  • flokiFLOKI (FLOKI) $ 0.000095
  • dogwifcoindogwifhat (WIF) $ 0.910399
  • kaiaKaia (KAIA) $ 0.154674
  • conflux-tokenConflux (CFX) $ 0.175793
  • clbtcclBTC (CLBTC) $ 117,367.00
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.54
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 4,307.20
  • raydiumRaydium (RAY) $ 3.21
  • pendlePendle (PENDLE) $ 4.94
  • zcashZcash (ZEC) $ 50.91
  • fartcoinFartcoin (FARTCOIN) $ 0.825278
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 4,485.20
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.24
  • tezosTezos (XTZ) $ 0.761277
  • theta-tokenTheta Network (THETA) $ 0.801294
  • aethirAethir (ATH) $ 0.063390
  • galaGALA (GALA) $ 0.016755
  • ethereum-name-serviceEthereum Name Service (ENS) $ 23.20
  • ether-fiEther.fi (ETHFI) $ 1.49
  • iotaIOTA (IOTA) $ 0.185103
  • vaultaVaulta (A) $ 0.467275
  • ripple-usdRipple USD (RLUSD) $ 0.999817
  • the-sandboxThe Sandbox (SAND) $ 0.297164
  • ousgOUSG (OUSG) $ 112.59
  • fourFour (FORM) $ 1.90
  • tbtctBTC (TBTC) $ 115,371.00
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • stader-ethxStader ETHx (ETHX) $ 4,797.30
  • jito-governance-tokenJito (JTO) $ 1.80
  • jasmycoinJasmyCoin (JASMY) $ 0.014021
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.265062
  • usdx-money-usdxStables Labs USDX (USDX) $ 0.997747
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 4,487.38
  • newton-projectAB (AB) $ 0.008447
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  • decentralandDecentraland (MANA) $ 0.333288
  • flowFlow (FLOW) $ 0.395245
  • bittorrentBitTorrent (BTT) $ 0.00000064
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 4,936.78
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  • walrus-2Walrus (WAL) $ 0.417583
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  • global-dollarGlobal Dollar (USDG) $ 0.999651
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  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 115,794.00
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  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 4,488.42
  • frax-etherFrax Ether (FRXETH) $ 4,464.87
  • bybit-staked-solBybit Staked SOL (BBSOL) $ 258.52
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  • heliumHelium (HNT) $ 2.55
  • apecoinApeCoin (APE) $ 0.576240
  • neoNEO (NEO) $ 6.50
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999704
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  • telcoinTelcoin (TEL) $ 0.004886
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  • thorchainTHORChain (RUNE) $ 1.26
  • steakhouse-usdc-morpho-vaultSteakhouse USDC Morpho Vault (STEAKUSDC) $ 1.10

Bigcoin mining game faces Ponzi allegations amid token price swings

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Bigcoin mining game faces Ponzi allegations amid token price swings

This is a segment from The Drop newsletter. To read full editions, subscribe.

Abstract, the Ethereum L2 blockchain that claims it’s “leading the next generation of consumer crypto,” is featuring and endorsing a crypto mining game that some have accused of being a Ponzi scheme.

Abstract has added “The Big Badge” as a visual badge reward for users who engaged with Bigcoin, an app that gamifies the BIG token and lets players “mine” the token from their virtual “facilities.”

“Bigcoin aims to become the most recognized coin on the planet by combining the proven emission mechanics of Bitcoin with viral, community-driven incentives,” the token’s white paper reads. Pseudonymous X user “Satoshi Bigmoto,” also known as “Bigtoshi,” is listed as Bigcoin’s creator and white paper author. Their account was created in February, just a few months ago.

Bigcoin mining game faces Ponzi allegations amid token price swings

But to “mine” BIG and increase their hash rate, players have to buy “miners” for their pixelated “facilities” using BIG itself (both the size of one’s facility and the number of miners increase one’s hash rate). Players also have to spend BIG to “upgrade” those virtual mining rooms.

Abstract Marketing Lead Phin Totten confirmed to me that Bigcoin isn’t actually using players’ physical computers to mine the token — and that the token isn’t actually being mined at all. Instead, what’s happening is a simulation, facilitated by the token’s smart contract.

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One X user declared over the weekend that “Bigcoin has taken the timeline by storm and made a lot of money for people who got in early,” adding, “Congrats to everyone who got in early.”

While others have argued that all of crypto is a Ponzi scheme, Bigcoin has less utility and less legitimacy than its inspiration, Bitcoin, which has been adopted by Wall Street in the form of bitcoin ETFs.

Cornell Law School defines a Ponzi scheme as: “a type of investment fraud in which investors are promised artificially high rates of return with little or no risk. Original investors and the perpetrators of the fraud are paid off by funds from later investors, but there is little or no actual business activity that produces revenue. The scheme generates funds for previous investors so long as there is a consistent flow of funds from new investors.”

It’s currently unclear what the point of Bigcoin is, however, besides enriching miners who “got in early” with a layer of gamification on top.

Source

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