Celphish Finance Could Hit $10 Million In Presale - Could It Be An Escape From Axie Infinity and Solana’s Security Problem?

Security has become a common problem in cryptocurrency. The decentralised nature of the market means there is no central authority to regulate it. This lack of regulation and control results in data breaches and hacks. You don’t have to look far to find them. Solana (SOL) was the latest victim of a hack that resulted in 8,000 wallets being drained for $5.2 million in digital coins. That averages out to an appalling $650 per wallet!

The trouble doesn’t end there. Axie Infinity (AXS) was subject to a data breach that involved fake LinkedIn job posts on their platform. When an Axie Infinity employee clicked the link, it created a chain infection leading to $620 million stolen from Axie infinity! The attack even attracted the attention of the FBI who linked the attack to the North Korean hacker group, Lazarus.

These are just some of the data breaches and hacks that have occurred this year. So, how can crypto users avoid this? The answer could be to look for a new cryptocurrency to diversify your portfolio. While Solana and Axie Infinity can offer impressive returns, their data breaches resulted in a decrease in the value of both tokens.

Celphish Finance (CELP) has constructed an ecosystem that benefits the user in multiple ways. Want easy access to your crypto on your phone? No problem. Celphish Finance understands the roles that mobile phones play in our lives. That is why it allows you to perform crypto activities with your phone without any barriers.

Celphish Finance also offers additional protection. If you’re worried about the safety of your assets, you should be. Time and time again, crypto hackers have infiltrated the market. That’s why Celphish Finance’s top priorities are safety, security, and trust. They thrive on being at the forefront of security technology solutions.

What Can You Expect From The CelphishSwap DEX?

Celphish Finance has introduced new and advanced features to the crypto industry. As seen in the photo below, Celphish Finance wants to focus on the smartphone industry to make cryptocurrency readily available to anyone at anytime. From a decentralised exchange (DEX) to an NFT marketplace, Celphish Finance does it all.

A DEX is a peer-to-peer marketplace that operates without a third party or centralised authority. Buyers and sellers are paired and can trade cryptocurrencies in a non-custodial manner. Celphish Finance hosts a DEX, CelphishSwap. CelphishSwap is simplifying the trading experience for its users. CelphishSwap adds support for important DEXs from other chains for customers who trade across DEXs in multiple chains.

Saddle Finance (SDL) is a DEX that was reportedly hacked in a decentralised finance (DeFi) exploit in April. The lack of security resulted in a loss of $10 million. CelphishSwap will avoid this by implementing intrusion detection mechanisms and segregating essential components for users’ peace of mind

Additionally, CelphishSwap examined past failures by DEX platforms and learned from their mistakes. CelphishSwap has done a lot of homework on this sector to deliver the best results to its users. Seamless token swapping on your smartphone is CelphishSwap’s goal, and with its blockchain technology, it looks on course to achieve it.

Celphish Finance (CELP) Could Lead The NFT Sector

NFT adoption has become common among adults since 2021. The percentage of people buying and selling NFTs in America is doubling each year. In 2021, 2% of Americans, or 4.6 million, had bought or sold NFTs. However, in 2022, 4% of Americans have bought or sold NFTs, equating to 9.3 million people. The train has truly left the station, NFT’s are here to stay.

With these statistics doubling each year, it is no wonder that more cryptocurrencies are catering to this market. Adoption growth is expected to continue, creating more space in this sector for cryptocurrencies to shine.

So, where does Celphish Finance come into the picture? Celphish Finance has constructed an NFT marketplace that can be accessed on your smartphone. At the click of a button, from anywhere in the world, you can access your beloved NFTs and trade them with other people. The benefit of the Celphish Finance ecosystem is that there are low transaction fees with complete decentralisation. Celphish Finance serves as a gateway to the NFT market.

As evidenced in the picture below, you can get involved in the presale that is currently active. Celphish Finance offers a generous 9% bonus if you sign up in the first stage of its presale, with an extra 40% bonus if you make your first purchase in thirty minutes. Additionally if you purchase CELP with Ethereum (ETH) you can get an extra 10% bonus!

The Fastest Blockchain In The Market – Solana (SOL)

Solana is considered the fastest blockchain in the market due to its remarkable speed of 50,000 transactions per second. It utilises a combination of a Proof-of-Stake (PoS) and Proof-of-History (PoH) consensus to achieve this astronomical number.

So, what went wrong with the hack, and how did it affect the value of Solana? The root of the problem wasn’t the actual Solana blockchain itself. Instead, it was a flaw within certain wallet software. Ottersec stated that there was a “private key compromise”. Private keys grant the owner access to crypto holdings.

The identity of the hacker or group of hackers is still unknown. Solana has recruited the help of several security firms to “investigate drained wallets” and rebuild the trust of their community. Is it too little too late? So far it seems not. After the hack occurred, Solana understandably dropped in value by 4% to $38.50. Considering hacks and data breaches often result in double-figure losses, Solana recovered admirably.

Additionally, Solana is now trading at $41.07 at the time of writing. It showcases the loyalty of Solana users, and crypto giants can often rely on the support of their community through times of hardship.

Will Axie Infinity (AXS) Regain Its User Base?

Losing $620 million will undoubtedly affect the trust your users have in your platform. Axie Infinity went from arguably the largest Play-to-Earn (P2E) platform in the crypto market, to the third-largest. It recorded a peak of 2.7 million weekly users in November 2021. The data breach in March 2022 started a steady decline in weekly users that refused to stop. As of July, Axie Infinity had 368,000 weekly users.

The crypto market is however an unpredictable place. Many thought Solana would drop further following its data breach, but its price levelled quickly. Although it has taken Axie Infinity longer to lick its wounds, the metaverse card game has retained its long list of partnerships with the likes of Ubisoft and Samsung. If it can leverage both of their technology, Axie Infinity could rebuild its trust with the community.

Axie Infinity has adopted a Pokemon style of gaming where you collect your Axies, train them, and then battle them against other Axies for real money prizes. Although Axie Infinity has lost a large portion of its users, it still has an impressive $3.6 billion traded in its in-house marketplace. The most expensive NFT sold was worth an eye-watering $820,000!

So, can Axie Infinity regain its user base? It currently has a declining number of weekly users, but new updates in technology can create a buzz around the platform within the blink of an eye. If users however refuse to rejoin the platform, they could find safety in Celphish Finance. The innovative cryptocurrency prioritises user safety and security above their digital assets.

Solana and Axie Infinity have dominated their respective sectors since their inception. Solana hosts the fastest blockchain, while Axie Infinity is home to one of the largest P2E games in the market. However, their security problems have tarnished their reputation in some respect, leading to users seeking a secure platform.

That is what they can find with Celphish Finance. Celphish Finance has a unique mode of operation that allows users to access each part of its ecosystem through their smartphone. You can diversify your portfolio with Celphish Finance as the presale aims to hit $10 million.

Celphish Finance (CELP) Links:

Presale: https://cel.celphish.io

Website: http://celphish.io/

Telegram: https://t.me/CelphishFinanceOfficial

Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.

For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.