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.
Forwarded from Canva
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
Forwarded from Canva
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.”
Forwarded from Canva
$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.
Forwarded from Canva
$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.
Forwarded from Canva
$BTC
Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low
Bitcoin volatility has fallen to a 16-month low, signalling that a sharp move in BTC looms.
Bitcoin options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million.
In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options markets is a positive indicator.
Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low
Bitcoin volatility has fallen to a 16-month low, signalling that a sharp move in BTC looms.
Bitcoin options aggregate open interest has increased to $2 billion, which is 13% below the all-time high. Although the open interest is still heavily concentrated on Deribit exchange, the Chicago Mercantile Exchange (CME) has also reached $300 million.
In simple terms, options derivatives contracts allow investors to buy protection, either from the upside (call options) or downside (put options). Even though there are some more complex strategies, the mere existence of liquid options markets is a positive indicator.
Forwarded from Canva (Ragdeos)
Ethereum 2.0 deposit contract to launch this week: ConsenSys dev
An Ethereum 2.0 developer predicts the protocol’s deposit contract will be released in a matter of days, and that ETH 2.0 staking will go live this year.
An Ethereum 2.0 developer predicts the protocol’s deposit contract will be released in a matter of days, and that ETH 2.0 staking will go live this year.
Forwarded from Canva (Ragdeos)
$BTC
Within the past few hours, Bitcoin price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities.
Within the past few hours, Bitcoin price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities.
For the first time since 2018 Bitcoin balances on exchanges fell below 2.5M
Bitcoin's balance on three popular exchanges decreased by 390k BTC over the past 9 months.
Bitcoin's balance on three popular exchanges decreased by 390k BTC over the past 9 months.
Forwarded from Cointelegraph
How to build a crypto mining rig in 2020 to earn Bitcoin and Ether
Mining with home rigs is back, so here’s what those interested need to know to put together their own rig at home.
https://ct.com/923w
Mining with home rigs is back, so here’s what those interested need to know to put together their own rig at home.
https://ct.com/923w
Forwarded from Canva (Ragdeos)
Bitcoin is moving from exchanges to individual wallets
According to the data from Glassnode, a large amount of Bitcoin has been moving out of centralized exchanges in late October.
Woo says this metric is optimistic because it shows investors are transferring funds from trading platforms to personal wallets. This indicates that users are holding their BTC with a long-term investment strategy.
According to the data from Glassnode, a large amount of Bitcoin has been moving out of centralized exchanges in late October.
Woo says this metric is optimistic because it shows investors are transferring funds from trading platforms to personal wallets. This indicates that users are holding their BTC with a long-term investment strategy.
Forwarded from Canva (Ragdeos)
$BTC
No clear signs of a top yet
The number of “weak hands” or speculative buyers have noticeably declined in recent weeks, while stronger hands strengthened.
The flush out of short-term buyers and the entrance of long-term “HODLers” indicate that Bitcoin could see a prolonged rally.
This trend coincides with the resilience of Bitcoin above $15,000 and shows that the once heavy resistance level is close to evolving into a support area.
No clear signs of a top yet
The number of “weak hands” or speculative buyers have noticeably declined in recent weeks, while stronger hands strengthened.
The flush out of short-term buyers and the entrance of long-term “HODLers” indicate that Bitcoin could see a prolonged rally.
This trend coincides with the resilience of Bitcoin above $15,000 and shows that the once heavy resistance level is close to evolving into a support area.