Forwarded from CryptoRank Analytics
📈 Market Overview
Bitcoin price sold off below $37,000 shortly after topping $40,500, leading analysts to caution that bears still have a few tricks up their sleeves.
The Top-10 cryptocurrencies are traded in the red zone. Dogecoin -11.5%, Cardano -9.9%, Polkadot -9.3%
Market capitalization: $1.51T (-4.3%)
The BTC dominance: 46.15% (+0.8%)
Fear & Greed Index: 32 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Wall Street Games (WSG) +140%
Mochi Market (MOMA) +51.3%
Civic (CVC) +30.3%
👉 Top Losers
AnRKey X (ANRX) -33.6%
Ampleforth (AMPL) -33.2%
Konomi Network (KONO) -28.1%
BTC Futures
Aggregated Volume — $94.67B
Aggregated Open Interest — $10.90B
👉 Derivatives Market Analytics
Bitcoin price sold off below $37,000 shortly after topping $40,500, leading analysts to caution that bears still have a few tricks up their sleeves.
The Top-10 cryptocurrencies are traded in the red zone. Dogecoin -11.5%, Cardano -9.9%, Polkadot -9.3%
Market capitalization: $1.51T (-4.3%)
The BTC dominance: 46.15% (+0.8%)
Fear & Greed Index: 32 (Fear)
https://cryptorank.io/heatmaps
👉 Top Gainers
Wall Street Games (WSG) +140%
Mochi Market (MOMA) +51.3%
Civic (CVC) +30.3%
👉 Top Losers
AnRKey X (ANRX) -33.6%
Ampleforth (AMPL) -33.2%
Konomi Network (KONO) -28.1%
BTC Futures
Aggregated Volume — $94.67B
Aggregated Open Interest — $10.90B
👉 Derivatives Market Analytics
Forwarded from Blockchair News
🌀 Amazon denies rumored plans for Bitcoin support 🌀
https://blockchair.com/news/amazon-denies-rumored-plans-for-bitcoin-support--40775663c3
BTC: $36217 ▪️ ETH: $2144 ▪️ XRP: $0.61 ▪️ BCH: $467
https://blockchair.com/news/amazon-denies-rumored-plans-for-bitcoin-support--40775663c3
BTC: $36217 ▪️ ETH: $2144 ▪️ XRP: $0.61 ▪️ BCH: $467
Blockchair
Amazon denies rumored plans for Bitcoin support — Blockchair News
cointelegraph.com: Despite rejecting rumors the e-commerce giant will soon support Bitcoin payments, a spokesperson for Amazon has said the firm is still interested in the crypto space.
Forwarded from Blockchair News
🌀 Bitcoin attacks $40k: positive sentiment 🌀
https://blockchair.com/news/bitcoin-attacks-40k-positive-sentiment--f67c3ee0fe
BTC: $39779 ▪️ ETH: $2303 ▪️ XRP: $0.73 ▪️ BCH: $516
https://blockchair.com/news/bitcoin-attacks-40k-positive-sentiment--f67c3ee0fe
BTC: $39779 ▪️ ETH: $2303 ▪️ XRP: $0.73 ▪️ BCH: $516
Blockchair
Bitcoin attacks $40k: positive sentiment — Blockchair News
en.cryptonomist.ch: Three indicators suggest a sharp rise in interest and an improvement in ongoing sentiment
The post Bitcoin attacks $40k: positive sentiment appeared first on The Cryptonomist.
The post Bitcoin attacks $40k: positive sentiment appeared first on The Cryptonomist.
Forwarded from unfolded.
Year Progress:
▓▓▓▓▓▓▓▓▓░░░░░░ 57%
▓▓▓▓▓▓▓▓▓░░░░░░ 57%
Forwarded from Blockchair News
🌀 Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Says After Test 🌀
https://blockchair.com/news/digital-euro-to-handle-almost-unlimited-payments-estonian-central-bank-says-after-test--6b2c389223
BTC: $40781 ▪️ ETH: $2338 ▪️ XRP: $0.73 ▪️ BCH: $516
https://blockchair.com/news/digital-euro-to-handle-almost-unlimited-payments-estonian-central-bank-says-after-test--6b2c389223
BTC: $40781 ▪️ ETH: $2338 ▪️ XRP: $0.73 ▪️ BCH: $516
Blockchair
Digital Euro to Handle ‘Almost Unlimited’ Payments, Estonian Central Bank Says After Test — Blockchair News
news.bitcoin.com: A blockchain-based digital euro would be highly scalable allowing it to process an almost unlimited number of payments, the central bank of Estonia has concluded following a recent experiment. Central banks from several euro area countries…
Forwarded from CryptoRank Analytics
The Latest Breaking News 📣
#1 Binance integrates tax reporting tool —link
#2 ProFunds launches the first U.S. Bitcoin strategy mutual fund — link
#3 Escrow company issues first-ever Bitcoin-backed real estate loan — link
#4 PayPal Q2 transaction revenue rose 17%; earnings top estimates —link
#5 WazirX to launch decentralised exchange next month — link
👉 https://cryptorank.io/news
#1 Binance integrates tax reporting tool —link
#2 ProFunds launches the first U.S. Bitcoin strategy mutual fund — link
#3 Escrow company issues first-ever Bitcoin-backed real estate loan — link
#4 PayPal Q2 transaction revenue rose 17%; earnings top estimates —link
#5 WazirX to launch decentralised exchange next month — link
👉 https://cryptorank.io/news
Forwarded from defiprime
https://www.coindesk.com/uniswap-says-its-talking-with-paypal-and-more-in-a-deleted-video-from-ethcc
Coindesk
Uniswap Says It's Talking With PayPal, Robinhood and More in Deleted Video
In a talk at the EthCC conference in Paris, Uniswap’s growth lead hinted at possible tie-ups with PayPal, E*Trade and Stripe.
Forwarded from Blockchair News
🌀 Elon Musk Hints Tesla Owns About 42K Bitcoins 🌀
https://blockchair.com/news/elon-musk-hints-tesla-owns-about-42k-bitcoins--c1c0768071
BTC: $40117 ▪️ ETH: $2307 ▪️ XRP: $0.71 ▪️ BCH: $507
https://blockchair.com/news/elon-musk-hints-tesla-owns-about-42k-bitcoins--c1c0768071
BTC: $40117 ▪️ ETH: $2307 ▪️ XRP: $0.71 ▪️ BCH: $507
Blockchair
Elon Musk Hints Tesla Owns About 42K Bitcoins — Blockchair News
news.bitcoin.com: Tesla CEO Elon Musk has hinted how many bitcoins Tesla owns after revealing that the fair market value of its bitcoin holdings was $1.47 billion as of June 30. Tesla Holding About 42K Bitcoins Tesla’s technoking, Elon Musk, has commented…
Forwarded from Blockchair News
🌀 Ukraine central bank now officially allowed to issue digital currency 🌀
https://blockchair.com/news/ukraine-central-bank-now-officially-allowed-to-issue-digital-currency--0991d2af34
BTC: $38836 ▪️ ETH: $2337 ▪️ XRP: $0.72 ▪️ BCH: $525
https://blockchair.com/news/ukraine-central-bank-now-officially-allowed-to-issue-digital-currency--0991d2af34
BTC: $38836 ▪️ ETH: $2337 ▪️ XRP: $0.72 ▪️ BCH: $525
Blockchair
Ukraine central bank now officially allowed to issue digital currency — Blockchair News
cointelegraph.com: Ukraine’s newly-signed law titled “On Payment Services” requires close cooperation between the National Bank of Ukraine and private startups in the payment market.
Forwarded from CryptoRank Analytics
The Latest Breaking News 📣
#1 FTX is creating an NFT-focused sports and entertainment marketplace — link
#2 Bakkt has partnered with Quiznos on Bitcoin payments — link
#3 DeFi platform dYdX is launching a governance token — link
#4 HSBC UK reportedly cuts credit card payments to Binance — link
#5 Google running crypto ads again as new policy goes into effect — link
👉 https://cryptorank.io/news
#1 FTX is creating an NFT-focused sports and entertainment marketplace — link
#2 Bakkt has partnered with Quiznos on Bitcoin payments — link
#3 DeFi platform dYdX is launching a governance token — link
#4 HSBC UK reportedly cuts credit card payments to Binance — link
#5 Google running crypto ads again as new policy goes into effect — link
👉 https://cryptorank.io/news
Currently, retail investors are dominating the market. In terms of addresses, whales have a mere concentration of 1.53%, whereas retail holders have an 88.64% dominance today. At the same time when it comes to balance, these whales only have 288k cumulatively.
Retail investors, on the other hand, hold 16.65 million BTC altogether. These are the biggest signs of retail domination which is exactly the need of the moment. If their participation grows, the next rally can be led by retail investors.
On exchanges, it can be seen that selling is active in the market. At the moment, whales’ balance is close to its all-time high. Whale addresses possessing 100-10k BTC hold 49.1% of Bitcoin’s supply. This shows that selling from their end is close to none.
Retail investors, on the other hand, hold 16.65 million BTC altogether. These are the biggest signs of retail domination which is exactly the need of the moment. If their participation grows, the next rally can be led by retail investors.
On exchanges, it can be seen that selling is active in the market. At the moment, whales’ balance is close to its all-time high. Whale addresses possessing 100-10k BTC hold 49.1% of Bitcoin’s supply. This shows that selling from their end is close to none.
Forwarded from CryptoVigilante
Poly Network Hack Clarification
📕 WHO DID THE HACK TARGET?
This is a big question to ask. I've seen a couple of comments like "Not your keys, not your Crypto" and likening it to BitConnect or Mt. Gox. It's similar but with a big caveat, these types of attacks don't typically target users crypto in their wallet. Custodial exchange and centralized lending will often target users crypto just sitting in a spot wallet.
When you supply liquidity to a protocol on DeFi it is not your crypto. You're keys should still be able to authorize the withdrawal of that crypto or your wallet will have a receipt of supplying like cETH or LP tokens. You are still ultimately the custodian of your own crypto in DeFi
If you've been interacting with DeFi protocols, it is highly unlikely you will wake up to a drained Metamask after one of these hacks. You are too small of a fish for those types of attacks to target. You are more likely to have to fall for a phishing scam if that is the case.
Typically hacks like this target liquidity pools. Liquidity pools often have immense value in them. You may lose crypto you have deposited in a hacked pool or farm, but often times protocols come up with solutions to reimburse any lost crypto like PancakeBunny earlier this year that suffered a flash loan attack.
Poly Network holds large liquidity pools to facilitate cross chain transfers. Holding a lot of exit liquidity on each chain. The money that was hacked from this event is likely to have been stolen from those who have large amounts of liquidity staked. This is not likely to be you farming CAKE on PCS!
Cross Chain protocols are incredibly hard to code, and they should be treated with caution when supplying liquidity to them.
📗 HOW DID THE ATTACK TAKE PLACE?
I want to keep this part simple for those not technically minded but there are currently two working theories as to how the hack took place. They both involve the private keys for the ownership of the liquidity pools.
🔑 Theory 1: Leaked Key
Poly Network has a big security problem from the outset. They had a single sig key to the pools which means that only one signer would need to authorise any changes to the liquidity pool, including withdrawal of funds. This is like leaving a vault of gold with only one key. If you wanted to access this, there wouldn't be any other parties involved.
Current theories suggest that this key was leaked or hacked via another method off-chain. This is the story from early official post mortem from Poly Network
EDIT: This theory has been disproved by Poly Network, but I wrote it so I thought I'd leave it here as an example of an early working theory
🖋 Theory 2: Hacked Contracts
There are two important contracts. A "manager" contract and a "data" contract. The data contract specifies the address which can submit transactions which can withdraw funds from the pool. If someone was to replace this address in the contract to theirs, they could withdraw as much from the pools as possible.
In solidity there is a concept called ownership. A smart contract can set certain functions to only execute if the owner executed them. Typically, when constructed the owner is the wallet who deployed the contract, which is typically the developer. However, in this case the owner of the "Data" contract was the "Manager" contract.
So now, if you were to call a function which could replace the address in the data contract with theirs from the manager, it would be allowed.
But here's another flaw in the design of Poly Network. The "manager" contract exists to run transactions on different chains. It has a function called verifyHeaderAndExecuteTx which verifies that a transaction exists on one chain, and if it does, runs it on another. This is needed for cross chain interoperability.
But wait... we've now got a way to run arbitrary functions from the "manager". If the attacker devises a specific input they can now freely set the most important address, the one which says who can withdraw from the pools, to theirs.
Confirmed by Poly Network
📕 WHO DID THE HACK TARGET?
This is a big question to ask. I've seen a couple of comments like "Not your keys, not your Crypto" and likening it to BitConnect or Mt. Gox. It's similar but with a big caveat, these types of attacks don't typically target users crypto in their wallet. Custodial exchange and centralized lending will often target users crypto just sitting in a spot wallet.
When you supply liquidity to a protocol on DeFi it is not your crypto. You're keys should still be able to authorize the withdrawal of that crypto or your wallet will have a receipt of supplying like cETH or LP tokens. You are still ultimately the custodian of your own crypto in DeFi
If you've been interacting with DeFi protocols, it is highly unlikely you will wake up to a drained Metamask after one of these hacks. You are too small of a fish for those types of attacks to target. You are more likely to have to fall for a phishing scam if that is the case.
Typically hacks like this target liquidity pools. Liquidity pools often have immense value in them. You may lose crypto you have deposited in a hacked pool or farm, but often times protocols come up with solutions to reimburse any lost crypto like PancakeBunny earlier this year that suffered a flash loan attack.
Poly Network holds large liquidity pools to facilitate cross chain transfers. Holding a lot of exit liquidity on each chain. The money that was hacked from this event is likely to have been stolen from those who have large amounts of liquidity staked. This is not likely to be you farming CAKE on PCS!
Cross Chain protocols are incredibly hard to code, and they should be treated with caution when supplying liquidity to them.
📗 HOW DID THE ATTACK TAKE PLACE?
I want to keep this part simple for those not technically minded but there are currently two working theories as to how the hack took place. They both involve the private keys for the ownership of the liquidity pools.
🔑 Theory 1: Leaked Key
Poly Network has a big security problem from the outset. They had a single sig key to the pools which means that only one signer would need to authorise any changes to the liquidity pool, including withdrawal of funds. This is like leaving a vault of gold with only one key. If you wanted to access this, there wouldn't be any other parties involved.
Current theories suggest that this key was leaked or hacked via another method off-chain. This is the story from early official post mortem from Poly Network
EDIT: This theory has been disproved by Poly Network, but I wrote it so I thought I'd leave it here as an example of an early working theory
🖋 Theory 2: Hacked Contracts
There are two important contracts. A "manager" contract and a "data" contract. The data contract specifies the address which can submit transactions which can withdraw funds from the pool. If someone was to replace this address in the contract to theirs, they could withdraw as much from the pools as possible.
In solidity there is a concept called ownership. A smart contract can set certain functions to only execute if the owner executed them. Typically, when constructed the owner is the wallet who deployed the contract, which is typically the developer. However, in this case the owner of the "Data" contract was the "Manager" contract.
So now, if you were to call a function which could replace the address in the data contract with theirs from the manager, it would be allowed.
But here's another flaw in the design of Poly Network. The "manager" contract exists to run transactions on different chains. It has a function called verifyHeaderAndExecuteTx which verifies that a transaction exists on one chain, and if it does, runs it on another. This is needed for cross chain interoperability.
But wait... we've now got a way to run arbitrary functions from the "manager". If the attacker devises a specific input they can now freely set the most important address, the one which says who can withdraw from the pools, to theirs.
Confirmed by Poly Network
Forwarded from Blockchair News
🌀 Institutions are buying Bitcoin like it's late 2020 🌀
https://blockchair.com/news/institutions-are-buying-bitcoin-like-its-late-2020--0cb7d4c4f0
BTC: $46180 ▪️ ETH: $3214 ▪️ XRP: $0.89 ▪️ BCH: $608
https://blockchair.com/news/institutions-are-buying-bitcoin-like-its-late-2020--0cb7d4c4f0
BTC: $46180 ▪️ ETH: $3214 ▪️ XRP: $0.89 ▪️ BCH: $608
Blockchair
Institutions are buying Bitcoin like it's late 2020 — Blockchair News
cointelegraph.com: The amount of Bitcoin available on derivatives exchanges hits its lowest since May 11, before the China miner rout took hold.
Forwarded from CryptoRank Analytics
The Latest Breaking News 📣
#1 Kryptoin files for Ethereum ETF — link
#2 US Immigration and Customs Enforcement plans to use Coinbase forensics tools — link
#3 Singapore monetary authority approves crypto trading for DBS — link
#4 Crypto crowdfunding platform DAO Maker hacked for $7M — link
#5 Lionel Messi's move to PSG includes payment in crypto — link
👉 https://cryptorank.io/news
#1 Kryptoin files for Ethereum ETF — link
#2 US Immigration and Customs Enforcement plans to use Coinbase forensics tools — link
#3 Singapore monetary authority approves crypto trading for DBS — link
#4 Crypto crowdfunding platform DAO Maker hacked for $7M — link
#5 Lionel Messi's move to PSG includes payment in crypto — link
👉 https://cryptorank.io/news
Forwarded from Polygon Official Announcements (Chinmay)
Polygon EIP1559 Community Call on Thursday, 19th August!
📣 Every month, our founders discuss the key highlights and all the exciting progress we've made in the previous month, this time we'll be covering an important upgrade on Polygon, The EIP1559, we’ll be talking about how EIP1559 will be implemented on the Polygon chain and how it would impact Dapps and Validators.
🗣 Join the Polygon core contributors: Anurag Arjun, Jaynti Kanani, Delroy Bosco and Prabal Banerjee on this live discussion.
📅 19th August, Thursday 7:30 PM IST | 2:00 PM UTC
👉 Save your spot: https://www.crowdcast.io/e/polygon-eip1559
Retweet: https://twitter.com/0xPolygon/status/1426150802830233609?s=20
📣 Every month, our founders discuss the key highlights and all the exciting progress we've made in the previous month, this time we'll be covering an important upgrade on Polygon, The EIP1559, we’ll be talking about how EIP1559 will be implemented on the Polygon chain and how it would impact Dapps and Validators.
🗣 Join the Polygon core contributors: Anurag Arjun, Jaynti Kanani, Delroy Bosco and Prabal Banerjee on this live discussion.
📅 19th August, Thursday 7:30 PM IST | 2:00 PM UTC
👉 Save your spot: https://www.crowdcast.io/e/polygon-eip1559
Retweet: https://twitter.com/0xPolygon/status/1426150802830233609?s=20
Crowdcast
Polygon EIP1559 Community Call - Crowdcast
Register now for Polygon's event on Crowdcast, scheduled to go live on Thursday August 19, 2021 at 7:30 pm IST.