Forwarded from Canva
Degenerator, or MEME, an obscure project that began life as an airdrop to Telegram users, has managed to garner a $3 million market cap and is seeking to carve a niche for itself as a non-fungible token (NFT) farming protocol.
MEME emerged from a joke posted by ConsenSys’ DeFi product lead Jordan Lyall, who created a joke advertisement ‘The Degenerator’ — a fictitious tool for creating ponzinomics-inspired yield farming tokens.
The joke quickly struck a chord with the crypto community, receiving significant engagement on Twitter. However, within hours of Lyall publishing the post, someone had minted a token dubbed the Degenerator and listed it on CoinGecko under the ticker ‘MEME’. The asset’s total supply of 28,000 tokens was then quickly distributed to interested parties on Telegram.
MEME emerged from a joke posted by ConsenSys’ DeFi product lead Jordan Lyall, who created a joke advertisement ‘The Degenerator’ — a fictitious tool for creating ponzinomics-inspired yield farming tokens.
The joke quickly struck a chord with the crypto community, receiving significant engagement on Twitter. However, within hours of Lyall publishing the post, someone had minted a token dubbed the Degenerator and listed it on CoinGecko under the ticker ‘MEME’. The asset’s total supply of 28,000 tokens was then quickly distributed to interested parties on Telegram.
Forwarded from Canva
Crypto exchange giant Binance is delving deeper into the world of DeFi-style products with its latest offering, an automated market maker called Binance Liquid Swap.
Aimed directly at Uniswap and its clones, Binance will launch an AMM liquidity pool that allows users to provide liquidity by depositing tokens. Just like the world’s most popular decentralized exchange, Binance Liquid Swap will also enable users to earn interest in addition to a cut of the trading fees for the pool.
It’s the first AMM pool product on a centralized exchange and will be integrated into the Binance.com exchange, allowing users to pool tokens in their wallets to earn rewards.
The AMM will use a pricing module instead of an order book to provide more stable prices and lower transaction according to the announcement. The company is prioritizing liquidity for its own tokens so the first pools offered on launch will be USDT/BUSD, BUSD/DAI and USDT/DAI.
Earnings will be accrued with a corresponding 7-day annual percentage yield (APY) with returns converted into the assets in the respective pools. Transaction fees and prices will be determined by the number of assets in the liquidity pools.
Aimed directly at Uniswap and its clones, Binance will launch an AMM liquidity pool that allows users to provide liquidity by depositing tokens. Just like the world’s most popular decentralized exchange, Binance Liquid Swap will also enable users to earn interest in addition to a cut of the trading fees for the pool.
It’s the first AMM pool product on a centralized exchange and will be integrated into the Binance.com exchange, allowing users to pool tokens in their wallets to earn rewards.
The AMM will use a pricing module instead of an order book to provide more stable prices and lower transaction according to the announcement. The company is prioritizing liquidity for its own tokens so the first pools offered on launch will be USDT/BUSD, BUSD/DAI and USDT/DAI.
Earnings will be accrued with a corresponding 7-day annual percentage yield (APY) with returns converted into the assets in the respective pools. Transaction fees and prices will be determined by the number of assets in the liquidity pools.
Forwarded from Canva
Migration of $180 million worth of SUSHI from UniSwap to SushiSwap has been approved
Forwarded from Canva
In the past 24 hours, Bitcoin (BTC) dropped to as low as $9,875.50 before bouncing back above $10,300. At present, BTC is trading at $10,430.3 (-2.04% in the past 24 hours).
Major cryptocurrencies:
EOS: $3.03 (+5.70%)
XRP: $0.2517 (-3.36%)
ETH: $385.38 (-3.45%)
ADA: $0.0996 (-4.15%)
BCH: $229.49 (-4.26%)
LTC: $49.98 (-5.76%)
BNB: $20.8151 (-5.95%)
LINK: $12.4 (-6.59%)
ETC: $5.21 (-9.10%)
Major cryptocurrencies:
EOS: $3.03 (+5.70%)
XRP: $0.2517 (-3.36%)
ETH: $385.38 (-3.45%)
ADA: $0.0996 (-4.15%)
BCH: $229.49 (-4.26%)
LTC: $49.98 (-5.76%)
BNB: $20.8151 (-5.95%)
LINK: $12.4 (-6.59%)
ETC: $5.21 (-9.10%)
Forwarded from Canva
Bitcoin price charts hint at double-bottom, relief rally to $10,800
Bitcoin has been clinging to the key $10,000 BTC price level all weekend as technical factors point to a short-term relief rally.
Bitcoin has been clinging to the key $10,000 BTC price level all weekend as technical factors point to a short-term relief rally.
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$BTC
If they can sink the BTC/USD pair below $9,835.20, there is a minor support at $9,540, which is close to the large symmetrical triangle and is also the target objective of the head and shoulders breakdown.
If this support also cracks, a drop to $9,000 and then to $8,000 is possible. Such a move will shatter sentiment and could drive away buyers.
This bearish view will be invalidated if the bulls can push the price above $11,000 and sustain it.
If they can sink the BTC/USD pair below $9,835.20, there is a minor support at $9,540, which is close to the large symmetrical triangle and is also the target objective of the head and shoulders breakdown.
If this support also cracks, a drop to $9,000 and then to $8,000 is possible. Such a move will shatter sentiment and could drive away buyers.
This bearish view will be invalidated if the bulls can push the price above $11,000 and sustain it.
Forwarded from Canva
Just Eat, a major British online food order and delivery platform operating across 13 countries, has added cryptocurrency payment support for its France subsidiary.
The company has partnered with the cryptocurrency payment provider Bitpay to allow its users to pay in Bitcoin (BTC). Just Eat users will now be able to order food from across 15,000 restaurants in France by paying in either of these cryptocurrencies, Decrypt first reported on Sept. 7.
The company has partnered with the cryptocurrency payment provider Bitpay to allow its users to pay in Bitcoin (BTC). Just Eat users will now be able to order food from across 15,000 restaurants in France by paying in either of these cryptocurrencies, Decrypt first reported on Sept. 7.
Forwarded from Canva
The decentralized finance (DeFi) bubble appears to have popped for the time being, with half a dozen top DeFi tokens shedding half of their fiat value over the past seven days.
According to crypto market data firm Messari’s list of DeFi assets, 32 of 34 markets are down over the past week — with only PowerPool (CVP) and SushiSwap (SUSHI) posting seven-day price gains.
The markets hardest hit include Curve — which is down 65% this week, followed by Meta with a 58% loss, Ren with 52%, AirSwap with 51%, and bZx Network and Wrapped Nexus Mutual with a 49% draw-down each.
According to crypto market data firm Messari’s list of DeFi assets, 32 of 34 markets are down over the past week — with only PowerPool (CVP) and SushiSwap (SUSHI) posting seven-day price gains.
The markets hardest hit include Curve — which is down 65% this week, followed by Meta with a 58% loss, Ren with 52%, AirSwap with 51%, and bZx Network and Wrapped Nexus Mutual with a 49% draw-down each.
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Jackpot! User turns $200 into $250K thanks to a buggy DeFi protocol
An anonymous user has revealed how he made $250k in profits from a minor investment in a cloned version of Yearn.finance called Soft Yearn (SYFI).
The token SYFI was launched as a soft-pegged adaptive cryptocurrency that expands or contracts its supply automatically. The concept was popularized by Ampleforth which uses a rebasing mechanism to adjust the supply to reflect changes in demand.
However, the Uniswap price of the cloned token was not adjusted to account for the rebase and the trader managed to sell the tokens at the previous price, wiping out virtually all of the liquidity in the pool. A flaw in the SYFI-rebasing mechanism allowed the anonymous user to obtain a large amount of tokens during its first rebase on September 3.
A DeFi trader using the Twitter handle Amplify has admitted that he was the one who netted 740 ETH from an initial investment of just 0.5 ETH. This works out at roughly a $250,000 return for a $200 layout.
An anonymous user has revealed how he made $250k in profits from a minor investment in a cloned version of Yearn.finance called Soft Yearn (SYFI).
The token SYFI was launched as a soft-pegged adaptive cryptocurrency that expands or contracts its supply automatically. The concept was popularized by Ampleforth which uses a rebasing mechanism to adjust the supply to reflect changes in demand.
However, the Uniswap price of the cloned token was not adjusted to account for the rebase and the trader managed to sell the tokens at the previous price, wiping out virtually all of the liquidity in the pool. A flaw in the SYFI-rebasing mechanism allowed the anonymous user to obtain a large amount of tokens during its first rebase on September 3.
A DeFi trader using the Twitter handle Amplify has admitted that he was the one who netted 740 ETH from an initial investment of just 0.5 ETH. This works out at roughly a $250,000 return for a $200 layout.
Forwarded from Cointelegraph
No, a quantum computer won't instantly reward you with 69,000 Bitcoins ... yet
The latest quantum computer may not help unlock lost Bitcoin — at least, not yet.
https://ct.com/8xgt
The latest quantum computer may not help unlock lost Bitcoin — at least, not yet.
https://ct.com/8xgt
Forwarded from Cointelegraph Markets & Research
LedgerX exchange launches physically settled Bitcoin mini futures
Regulated Bitcoin futures exchange LedgerX has launched physically-settled BTC futures contracts.
https://ct.com/8xgj
Regulated Bitcoin futures exchange LedgerX has launched physically-settled BTC futures contracts.
https://ct.com/8xgj
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Crypto exchange Binance is now explicitly positioning its Venus stablecoin project as a government-friendly alternative to Facebook’s Libra, just a month after downplaying any suggestions of rivalry between the two.
Last month, when Binance launched the initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe, Binance CEO Changpeng Zhao (“CZ”) said that if anything, “this should help Libra, if you think about it.”
Last month, when Binance launched the initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe, Binance CEO Changpeng Zhao (“CZ”) said that if anything, “this should help Libra, if you think about it.”
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$TRON
Apparently there is this TronLink Pro app creating a hype right now. A free refer program where you get 300 credits which can be used to buy crypto in the future.
To participate, download TronLink Pro from play/appstore;
•go to 'Me' section;
•go to "friend invitation" -> claim rewards;
•Enter code -> JmHy
You will receive 300 credits
Worth giving it a try, we really dont know how things will blow up in the future.
Apparently there is this TronLink Pro app creating a hype right now. A free refer program where you get 300 credits which can be used to buy crypto in the future.
To participate, download TronLink Pro from play/appstore;
•go to 'Me' section;
•go to "friend invitation" -> claim rewards;
•Enter code -> JmHy
You will receive 300 credits
Worth giving it a try, we really dont know how things will blow up in the future.
Forwarded from Canva
$LIBRA
The Facebook-initiated Libra blockchain project continues to grow as its governing body has added a new major industry partner.
Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official Sept. 18 announcement.
The Facebook-initiated Libra blockchain project continues to grow as its governing body has added a new major industry partner.
Blockchain Capital, one of the largest venture capital firms in the blockchain industry, has joined the Libra Association, according to an official Sept. 18 announcement.
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$ETH Mining
According to data from Digiconomist, Ethereum's annualized total footprint is 59.31 terawatts per hour, which is comparable to the power consumption of the entire country of Greece. However, Bitcoin might not be as bad for the environment as it seems thanks to a July 2019 report that estimated 74% of Bitcoin mining is done using renewable sources of energy.
According to data from Digiconomist, Ethereum's annualized total footprint is 59.31 terawatts per hour, which is comparable to the power consumption of the entire country of Greece. However, Bitcoin might not be as bad for the environment as it seems thanks to a July 2019 report that estimated 74% of Bitcoin mining is done using renewable sources of energy.
Forwarded from Canva
Joke MEME coin airdrop is now worth $600K
MEME, a community-driven project inspired by a ConsenSys developer’s satire of the yield farming bubble, has gained nearly 100% in 24-hours to post an all-time high of $1,775 after listing on Poloniex.
Since the start of September, MEME has gained more than 900%, despite its supporters promoting the project through the slogan ‘don’t buy MEME.’ MEME is currently the 254th-ranked crypto asset with a $48 million market cap, with more than $17 million worth of MEME changing hands in the past 24 hours.
MEME, a community-driven project inspired by a ConsenSys developer’s satire of the yield farming bubble, has gained nearly 100% in 24-hours to post an all-time high of $1,775 after listing on Poloniex.
Since the start of September, MEME has gained more than 900%, despite its supporters promoting the project through the slogan ‘don’t buy MEME.’ MEME is currently the 254th-ranked crypto asset with a $48 million market cap, with more than $17 million worth of MEME changing hands in the past 24 hours.
Forwarded from Canva
Cryptocurrency Exchange KuCoin Hacked, $150 Million Moved
A lot of Bitcoin, Ethereum, and other cryptocurrency left the exchange all at once. About $150 million worth, actually.
A lot of Bitcoin, Ethereum, and other cryptocurrency left the exchange all at once. About $150 million worth, actually.
Forwarded from Canva
Bitcoin price unfazed after $150M hack of major exchange KuCoin
KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed.
In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds.
Following the security breach, the price of Bitcoin barely moved, however. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens also remain relatively unfazed by the hack.
A cryptocurrency exchange security breach historically led to market-wide sell-offs due to the fear of hackers potentially selling the proceeds.
But Tether (USDT) has moved quickly to suspend the transfer of assets that are linked to the security breach. Major exchanges, including Bitfinex, also froze USDT associated with the hack.
The swift response from Tether and top exchanges could prevent most of the funds from being moved by the hackers.
KuCoin contacts major exchanges, Tether and Bitfinex freeze $33m
According to Paolo Ardoino, the chief technical officer at Bitfinex and Tether, the two entities froze $33 million in total.
If early estimates are accurate and $150 million were hacked, that represents 22% of the lost funds.
KuCoin reported a major security breach on Sep. 26, affecting Bitcoin, Ether, and ERC20 hot wallets while BTC and ETH prices remain unfazed.
In an official statement, KuCoin Global CEO Johnny Lyu confirmed a major hacking attack on Sep. 26. The breach affected the firm’s Bitcoin (BTC), Ether (ETH), and ERC20 hot wallets, after private keys were leaked. Reports estimate the breach to have affected $150 million in user funds.
Following the security breach, the price of Bitcoin barely moved, however. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens also remain relatively unfazed by the hack.
A cryptocurrency exchange security breach historically led to market-wide sell-offs due to the fear of hackers potentially selling the proceeds.
But Tether (USDT) has moved quickly to suspend the transfer of assets that are linked to the security breach. Major exchanges, including Bitfinex, also froze USDT associated with the hack.
The swift response from Tether and top exchanges could prevent most of the funds from being moved by the hackers.
KuCoin contacts major exchanges, Tether and Bitfinex freeze $33m
According to Paolo Ardoino, the chief technical officer at Bitfinex and Tether, the two entities froze $33 million in total.
If early estimates are accurate and $150 million were hacked, that represents 22% of the lost funds.