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Showing posts from April 4, 2021

Oracle Projects Surge in Value: Weekly Stats Show LINK, Band, DIA, API3 Captured 2-Digit Gains

Following the boom of non-fungible tokens (NFT) tied to NFT marketplaces and tools, oracle-based tokens are now seeing their valuations rise. During the last seven days, a number of oracle tokens have seen steep gains between 7% to even 45%. Oracles Token Projects See Seven Day Gains Jump Not too long ago, tokens associated with NFT markets and tools saw prices soar amid the non-fungible token hype. Just recently, Bitcoin.com’s newsdesk reported on the decline in NFT sales and NFT interest has dropped in recent times as well. Following the NFT-related pump, a great number of oracle protocol tokens are seeing significant gains over the last seven days. Basically, a decentralized oracle network is a group of independent responders that offer autonomous data to a blockchain. Over the last seven days, the project API3 has spiked 46.6% in value. Oracles are dominant on the Ethereum network and leveraged for decentralized finance (defi) applications in order to create intermediarie...

DeFi aggregator raided by five hackers on launch day

Four malicious hackers and one white-hat have gone to town on ForceDAO during its launch day. Fledgling decentralized finance protocol ForceDAO has had a rough start, with several incursions from hackers taking place just hours after it launched. The Ethereum-based yield aggregator had only just launched its airdrop campaign on April 3 when four malicious “black-hat” hackers managed to drain a total of 183 ETH worth approximately $367,000 at the time. One friendly "white-hat" hacker alsassisted the team by alerting them to prevent further losses. The team has released a post-mortem of the attacks and taken responsibility for what it termed as an “engineering oversight.” POST-MORTEM To the Force and DeFi community, we'd like to share a post-mortem on the recent xFORCE exploit. Thanks to everyone technical and non-technical who helped along the way. Especially to the White Hat who helped deter FORCE getting drained. https://t.co/MK2GH69yLd — Force (@force_dao) ...

Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses

Despite attracting more than $1 billion, Fei protocol’s genesis event hasn’t been entirely smooth sailing — with LPs facing losses if they withdraw soon. The launch of Ethereum-backed stablecoin called Fei has locked up almost a billion dollars’ worth of ETH during its genesis event. But the launch hasn't gone entirely as planned for some of its liquidity providers. The protocol, which launched a genesis event on April 1, introduced a stablecoin that is partially backed by Ethereum and uses bonding curves coupled with direct incentives to maintain the correct peg. These direct incentives penalize price fluctuations moving away from the peg and reward trades that drive prices towards the peg. Messari researcher Ryan Watkins observed the genesis event , which included an airdrop to liquidity providers. Over $1 billion dollars in Ethereum was locked up due to these protocol mechanics. Over $1 billion in ETH temporarily trapped unless FEI holders want to incur penalties. If you...

Thai crypto adoption is booming, with volume up 588% since November

While crypto volumes surge on Thailand’s licensed exchanges, P2P platforms appear to be falling out of favor Crypto adoption appears to be booming in Thailand, with the local Securities and Exchange Commission, or SEC, estimating domestic crypto volumes have increased by nearly 600% since November. Data compiled by the Thai’s SEC and published by Bloomberg indicates combined volume across licensed Thai crypto exchanges increased from 574.5 million in November to $3.96 billion in November. Speaking to Bloomberg, Atichanan Pulges, co-founder of top Thai exchange Bitkub, estimated volume on his platform had increased by 40% between January and February. Pulges claimed Bitkub represents 90% of local trade activity and services 300,000 customers. Despite the surge in licensed crypto volumes, Thai peer-to-peer trading has seen comparatively muted growth. While roughly $650,000 worth of Bitcoin traded weekly on top P2P marketplaces Localbitcoins and Paxful combined during November, Feb...

Couple gets married on Ethereum blockchain for $587 in transaction fees

A Californian couple has used tokenized rings to immortalize their marriage on the Ethereum blockchain. Rebecca Rose and Peter Kacherginsky, employees of leading U.S.-based crypto exchange Coinbase , have revealed how they used Ethereum’s blockchain to become lawfully wedded. On April 3, Rose posted to Twitter to announce the pair had tied the knot on March 14 in both the physical and virtual words. Most people get married in a place of religious worship, on a beach, or in the mountains. Peter ( @_iphelix ) and I are NOT most people. We got married on the #blockchain . 1/7 pic.twitter.com/2ExexrlLbZ — Rebecca Rose (@rgoldilox) April 2, 2021 In addition to a traditional Jewish wedding ceremony, Kacherginsky wrote an Ethereum smart contract named Tabaat that issued tokenized “rings” NFTs in the form of TBT tokens to the couples wallets. Tabaat is the Hebrew word for ring. Kacherginsky created the 2,218 line-long smart contract on March 10, with the contract costing 0.25 ETH to ...

2% Inflation Is a Myth- 2021 Statistics Show Prices of Goods and Services Have Surged

Members of the U.S. Federal Reserve and fellow bureaucrats have said that they are not worried about inflation levels and some officials have even encouraged a general increase in prices for goods and services. Despite the alleged statistics that say U.S. inflation is only 2% to 2.24%, reports show that Fed’s liquidity expansion has accelerated inflation, and prices on goods and services in the U.S. have swelled a great deal. The Federal Reserve Claims the US Inflation Rate Is ‘Well-Anchored at 2 Percent’ There’s a reason why precious metals like gold, silver , and cryptocurrency assets like bitcoin (BTC) are considered an escape from monetary inflation. All three of these forms of money and their monetary bases cannot be expanded as fiat currencies can, and statistics show that the U.S. money supply is now 24% higher than it was before the pandemic-related stimulus packages. Now the Federal Reserve’s own books , numerous status quo economists, and mainstream media publications c...

Ron Paul Warns of Government Crackdown on Bitcoin — ‘The Government Is the Threat’

Former congressman Ron Paul has warned of a government crackdown on bitcoin and safe-haven assets may not be safe from government intervention. “The government is the threat,” he said, noting that “they will crack down because they have the ability to do it.” Ron Paul Warns of Government Threat to Bitcoin Former presidential candidate Ron Paul shared his view on the government’s intervention on bitcoin in an interview last week with Kitco News’ Michelle Makori. Paul is an American author, physician, and retired politician. The former congressman from Texas launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis to the breaking issues affecting our lives and finances,” its website describes. Paul was asked about the “threat of potential gold confiscation or one form or other of government intervention because that concern is rising.” Several well-known hedge fund managers, like Bridgewater Associates founder Ray Dalio and “The Big Short” investor Mic...

Users of top Indian crypto exchange report seeing '0' funds during outage

"The load on our systems are way too much," said CEO Nischal Shetty. Major Indian crypto exchange WazirX experienced disruptions caused by system failures for more than four hours Sunday. In a tweet at 5:24 PM UTC, WazirX CEO Nischal Shetty reported that the crypto exchange had “hit some internal limits” set by one of the infrastructure providers. The load on Wazir’s system reportedly created “a ripple effect on all the services,” causing some of the exchange’s 1.8 million users to report being unable to see any funds in their accounts during the outage. “It’s because parts of the system are not working,” said Shetty. “One such system is the one that shows the fund value. It’ll start showing again as soon as all the services are back up.” More than four hours later, the CEO reported that users could once again see funds in their accounts and were able to cancel orders, but said that trading was still disabled. No matter how much you prepare for traffic, some system...

Financial Guru Dave Ramsey Advises What to Do With Bitcoin Investments

Personal finance expert Dave Ramsey has given some advice on what to do with bitcoin investments. While acknowledging that the cryptocurrency has had a “fabulous” run, Ramsey still prefers putting his money in more “proven” investments. Dave Ramsey Still Not a Fan of Bitcoin Famous radio show host and best-selling author Dave Ramsey gave some advice about bitcoin on The Dave Ramsey Show last week. The self-proclaimed personal money management expert, Ramsey calls himself “America’s trusted voice on money.” He is the author of seven best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, EntreLeadership, Dave Ramsey’s Complete Guide to Money, The Legacy Journey, and Smart Money Smart Kids. Altogether, they have sold more than 11 million copies. Ray from Louisville, Kentucky, called into The Dave Ramsey Show to ask for advice about his bitcoin investment. “In late 2019, my income roughly tripled,” he began telling his story. “And in 2020, I got real aggressi...

Paris Hilton ‘Very, Very Excited’ About Bitcoin — Confirms She Is a Long-Term Crypto Investor

Paris Hilton says she is “very, very excited” about bitcoin, stating that “It’s definitely the future.” Besides confirming that she is a long-term bitcoin investor, the Hilton heiress put laser eyes on her social media profile picture and talked about her upcoming non-fungible token (NFT) projects. Paris Hilton Says Bitcoin Is ‘Definitely the Future’ Hilton heiress Paris Hilton talked about bitcoin and her upcoming NFT projects in an interview with CNBC last week. A great-granddaughter of Conrad Hilton, the founder of Hilton Hotels, Paris is often dubbed the “original influencer.” While she is a media personality, socialite, businesswoman, model, singer, actress, and DJ, many people say that she is “famous for being famous.” “I’ve always loved to be an innovator and I did my first NFT in March of 2020 and it won the NFT Charity Award, the best one of the year, so that was exciting and now to see it just blow up in the past couple months has been so exciting,” she began. Hilton was ...

Top 5 cryptocurrencies to watch this week: BTC, ETH, BNB, DOT, EOS

The bullish price action from ETH, BNB, DOT and EOS show that altcoins have capitalized on Bitcoin’s range-bound trading below the $60,000 level. Historical trends act as a gauge for traders to assess the possibilities for the future. April has been a bullish month for Bitcoin ( BTC ) with eight monthly closes in the green and only two instances of negative returns. Danny Scott, the CEO of the Bitcoin exchange CoinCorner, said that Bitcoin could rally to $83,000 if it emulates its average April return of 51% as it had over the past 10 years. This could be one of the reasons why miners have started holding their positions instead of selling at the current levels. Lex Moskoviski, the CIO at Moskoviski Capital, recently highlighted that miners had hoarded 4,380 Bitcoin on April 2 and 4,494 Bitcoin on April 3. Crypto market data daily view. Source: Coin360 While Bitcoin remains the undisputed leader, a positive is that some mainstream companies have started to explore oppor...

Torum: DeFi + NFT + Social Media – the Next Brilliant Utility Innovation in the Blockchain World?

PRESS RELEASE. Launched on the 1st of July 2020, Torum is a social media platform specially designed for cryptocurrency users. Symbolizing the nature of the platform, the name Torum was born from the combination of “Tokenized” and “Forum”. The platform strives to connect worldwide cryptocurrency users to form a one-stop crypto ecosystem of the industry. Torum operates on a remote team organization. The 18-member team is formed from founders and core developers from Malaysia, India and Turkey with a diversified background of UI/UX, mobile app, cybersecurity, etc. With a $300,000 initial development fund, the team behind Torum built the community organically with a top-down humble approach. Starting with just 1,000 seed users on its beta launch, the number has now risen exponentially to over 25,000 registered users. Placed in the top 50,000 Alexa rank, Torum is now a favourite hangout spot visited by cryptocurrency communities from every corner of the world, including the US, Canada...

Singapore PM tells followers to 'remain vigilant' on crypto after seeing name used to sell tokens

"I have nothing to do with the platform," said Lee Hsien Loong. "It is misleading and done without my permission." Lee Hsien Loong, Prime Minister of Singapore, claims someone set up a profile on the social token platform BitClout to sell tokens using the information from his Twitter account. In a Facebook post Friday, Loong urged Singaporeans to “to remain vigilant when dealing with cryptocurrency platforms.” He said that someone had used BitClout to create one of the platform’s Creator Coins using his name, Twitter account bio, and photo. According to the screenshot Loong posted, there were 27.4088 of his tokens with a market capitalization of more than $9,800, with at least one user holding $4.77 worth. “I have discovered that my Twitter profile (and others as well) has been used without my permission or knowledge on a blockchain platform that allows users to buy and speculate with its proprietary cryptocurrency,” said the prime minister. He added: “The s...

Billionaire FOMO: Famed Norwegian Billionaire Investor Capitulates After Seeing Another Embrace Bitcoin

Norwegian billionaire Øystein Stray Spetalen, who once called bitcoin “nonsense,” has reportedly capitulated and invested in the cryptocurrency after seeing another billionaire in Norway embracing bitcoin. He has also invested in a local crypto exchange. “When the facts change, I change,” he said. Norwegian Billionaire Gets Into Bitcoin After Seeing Another Making Money With the Cryptocurrency Øystein Stray Spetalen, a Norwegian billionaire, has made a complete reversal in his view of bitcoin, local publication Finansavisen recently reported. Once a bitcoin skeptic who called the cryptocurrency “nonsense,” he has now changed his mind and invested in bitcoin as well as a local crypto exchange. Norwegian business newspaper Dagens Næringsliv calls Spetalen a “multi-billionaire” and “Norway’s most famous investor.” The publication also describes him as “one of the country’s most prominent and experienced investors, [who] has made a lot of money on the stock exchange in recent months an...

VORTECS Report: Storage coins rev up gains as Markets Pro rides the green wave

Cointelegraph Markets Pro delivered a market-moving NewsQuake on Storj to subscribers this week, while the VORTECS Score picked up bullish conditions for Filecoin. It’s been another great week for altcoins as the total market capitalization of all cryptocurrencies moves within spitting distance of the $2 trillion mark. And it’s been equally positive for the Cointelegraph Markets Pro platform, which tracks crypto market conditions and real-time headline news in the blockchain industry to deliver market intelligence for every investor. Markets Pro offers two unique features: The VORTECS™ Score, an algorithmically-derived weighted score that compares current market conditions to historically-similar marketscapes, and NewsQuakes™ — the industry’s most rapid aggregator of market-moving news, analyzed and collated from over a thousand primary sources every minute. In this weekly report we analyze the most important highlights from the week’s events on Markets Pro. Top VORTECS™ Score ...

Wen Doggcoin? Snoop Dogg hints at future token offering

“Is d-o-g-g similar to d-o-g-e?” asked Snoop. Dogecoin ( DOGE ) proponent and media personality Snoop Dogg has said he hopes to release his own cryptocurrency in the future. In a Vanity Fair interview released on Friday, Snoop said his recent non-fungible token, or NFT, offering through Crypto.com will likely not be his only contribution to the crypto space. Citing parallels between Dogecoin and his own professional name, the rapper said journalist Nick Bilton was “damn right” in predicting a Snoopcoin or Doggcoin one day. “Is d-o-g-g similar to d-o-g-e?” asked Snoop. The entertainment icon already has his own version of tokens as NFTs through Crypto.com, though the offering is a tokenized version of artwork featuring “Snoop Dogge coins” rather than a true cryptocurrency. The NFTs have a picture of a dog on one side of three gold coins and a recording of Snoop saying he is “all about those Snoop Dogge Coins, dog.” At the time of publication, users have purchased roughly 3,00...