Ryan Selkis, founder of crypto data site Messari, predicted an upcoming demise for the decentralized finance, or DeFi, space — similar to what happened with initial coin offerings, or ICOs. “The DeFi bubble will pop sooner than people expect,” Selkis tweeted on Sept. 10. “We’re nearing the apex of Ponzi economics, rug pulls, and ‘yield’
Bitcoin’s on-chain transfer volume grew considerably over the past month, ultimately hitting a 1-year high of 3.2 million BTC on September 9. At the same time, visible on-chain exchange activity has been dropping; only 3.6% or 115,000 BTC were transacted via trading platforms on the day. Bitcoin on-chain transfer volume. Source: Glassnode. Bitcoin fund flow
The crypto market has been on the receiving end of a market downturn during the past week, with many cryptocurrencies facing drops in valuation almost overnight, raising concerns that a bear market has commenced. Furthermore, in the wake of this market turmoil, Ethereum network transaction fees have surged, recently achieving an all-time high, thanks in
Digital Currency Group has acquired South African cryptocurrency exchange Luno, which has more than five million customers in over 40 countries. The acquisition will help Luno expand globally, including across its existing markets in Africa, Europe, and Asia. DCG Committed to Helping Luno Expand Globally New York-based Digital Currency Group (DCG), an investment firm that
The rapidly expanding DeFi space is becoming riddled with scams as another suspicious project has headed for the exits carrying speculators’ money. “A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors of $20 million in total funds locked in its protocol,” media outlet ZyCrypto wrote on Sept. 10. The
Swisscom Blockchain, a distributed ledger technology startup owned by telco giant Swisscom, has been awarded a grant from the Web3 Foundation to build a cloud-based protection layer for stakers on the Ethereum-based Polkadot network. Announced Thursday, the grant will help build Swisscom Blockchain’s Kubernetes Operator for Polkadot, a way of protecting participants involved in proof-of-stake
Sept. 10 updates to the U.S. Treasury’s sanctions include Russian nationals who allegedly worked to interfere in U.S. elections. The updates specifically target a laundry list of crypto wallet addresses associated with these accused hackers. The new specially designated nationals include St. Petersburg residents Anton Nikolaeyvich Andreyev and Artem Mikhaylovich Lifshits and addresses associated with
Ahead of its initial public offering (IPO), Warren Buffett and Berkshire Hathaway invested in tech-cloud company Snowflake. Buffett has largely avoided tech companies for many years, investing heavily in banks. That trend is starting to change, and it might benefit Bitcoin (BTC) in the long term. Why has Buffett mostly avoided tech and is the
Earlier today, Dexaran presented its solution to the Ethereum Classic (ETC) community aimed at preventing future 51% attacks. The presentation came a week after Cardano’s IOHK introduced its checkpointing proposal. Dexaran notably used IOHK’s Crowdcast channel for its competing solution. This new proposal is founded on the assumption that many 51% attacks involve so-called “stealth mining”,
The Whale non-fungible token vault has become the second-largest holder of virtual land in The Sandbox game — and its owner plans to become a virtual real estate developer. WHALE tokens represent fractional ownership in The Vault — the private NFT collection of the prominent crypto investor and social media profile ‘WhaleShark_Pro.’ It has garnered
After a bloody week for decentralized finance (DeFi) projects that saw numerous tokens plummet by up to 50%, the DeFi sector has rebounded by 19% in one day. Ether is also up 11% over the past 24 hours. According to Messari, 32 of 37 DeFi tokens are up today, posting gains of between 3% and
Bitcoin price remained well supported above $9,900 and $10,000 against the US Dollar. BTC is currently recovering and approaching a major breakout zone at $10,500. Bitcoin is trading higher, and it surpassed the $10,200 resistance zone and he 100 hourly simple moving average. It is facing a major hurdle near the $10,450 and $10,500 levels.
A previously undisclosed vulnerability in the Bitcoin Core software could have allowed attackers to steal funds, delay settlements or split the largest blockchain network into conflicting versions had it not been quietly patched two years ago. That’s according to a paper published Wednesday by Braydon Fuller, lead developer at decentralized cloud storage protocol Storj who
Six of the 109 individuals recent arrested by Chinese authorities in connection with the $5.8 billion crypto Ponzi PlusToken have been charged. The defendants Chen Shaofeng, Luu Jianghua, Lu Jianghua, Lu Qinghai, Jin Xinghai, Wang Yin, and Zhang Qin were charged by prosecutors in Xiangshui County and Yancheng City on September 7. The authorities said
Africans are increasingly turning to cryptocurrencies as a means of exchange over local fiat currencies, according to a new report from blockchain analytics firm Chainalysis. Data from the firm shows that many locals individuals and businesses are using cryptocurrencies to avoid high fees, regulatory complications, and currency instability. The number of monthly transfers to and
The Ethereum Foundation has announced that over $3.8 million in grants will be awarded to teams working on the Ethereum blockchain. In a Sept. 8 post published on the Ethereum Blog, the Ethereum Foundation, or EF, announced that it has given grants to teams as part of its ecosystem support program during Q2 2020. The