Author: Donald Munn
Chainalysis recently released a preview of a new chapter of its Web3 report discussing the level of decentralization in DAOs. The degree of decentralization in DAOs according to Chainalysis’ study The study shows that DAOs are far from decentralized This chapter is devoted to the latest trends regarding DAOs. What Chainalysis found is that, on average, less than 1% of their users have 90% of the voting rights. In other words, the distribution of governance tokens in DAOs on average is very centralized, to the point that in many cases even if only a small fraction of the 1% of…
NFTuloan, the DeFi protocol developed on Ethereum that offers lending through Non-Fungible Tokens, today announced the start of the mint presale, offering the ability for its users to access the whitelist with 0.2 ETH. NFTuloan: mint presale and whitelist access kicks off After two sold-out private sale rounds, the DeFi protocol developed on Ethereum that allows borrowing funds through NFTs is now in its mint presale phase. Ready GO Presales Mint LIVEEEE https://t.co/su4sx8MQX1 pic.twitter.com/fv8AATNSbD — NFTuloan (@NFTuloan) June 26, 2022 “Ready GO. Presales Mint LIVE”. At the moment, there are already 17 thousand active addresses on the whitelist, which allows…
The root cause of the massive hack that stole $100 million from Harmony last Wednesday may have been discovered. Harmony suffers a $100 million hack Last Wednesday, Harmony, a layer 1 blockchain company launched in 2019 by Stephen Tse, suffered a $100 million theft due to a hack. 1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds. More — Harmony (@harmonyprotocol) June 23, 2022 Harmony is aiming to solve the persistent…
Bitcoin Analysis Bullish BTC market participants failed to regain the $21k level during Monday’s daily session and BTC’s price finished in red figures [-349] for a second consecutive day. The first chart we’re analyzing for Tuesday is the BTC/USD 1W chart below from @MultichainFunds. Monday marked the first time in the history of BTC that its price traded for an entire week below the 200 MA on the weekly timescale. If bullish BTC market participants fail to reestablish price action above that level a retest of the $17k level over time could be imminent. Conversely, if bullish traders are able…
Bitcoin Analysis Bitcoin’s price finished down nearly 2% for Sunday’s daily session and when traders settled up at the end of the day BTC was -$418. The first chart we’re analyzing for the new week is the BTC/USD 1W chart from Longbitcoin. On the chart below, the three golden vertical lines denote each BTC halving event. The halving event is when BTC’s future emissions [block reward] is cut in half. BTC’s halving events are programmed into the code to take place after every 210,000 blocks that are mined on the bitcoin network. BTC’s price is trading between 0.236 [$18,423.03] and…
In this period of uncertainty in the crypto markets, many very different predictions about the price of Bitcoin are circulating. Uncertainties about the future of Bitcoin’s price There tend to be very few very bullish ones among them in the short term, while there continue to be some in the long term. Instead, there are several bearish ones, especially on the short term. It is important to keep in mind that in analyzing the past cycles of Bitcoin – right now we are in the fourth one – after the post-halving bull run there have always been about two years…
The crypto market has grown too big to ignore, and continues to do so despite the current “crypto winter”. The businesses that previously dismissed the technology are gradually adopting it. Everyone is doing everything possible to capitalize on crypto’s potential. A growing number of businesses are already using crypto for investing, operational, and transactional purposes. Even use cases like cross-border payments, NFT markets, decentralized finance (DeFi), identity management systems, etc have witnessed massive adoption. Further, TradFi platforms like PayPal, VISA, and Mastercard have integrated crypto and its applications into their ecosystems. Similarly, Tesla, Starbucks, McDonald’s, Balenciaga, Shopify, and thousands of…
During the implosion of the Terra ecosystem, the cryptocurrency Luna and the stablecoin UST, some hedge funds bet big on USDT imploding as well. Recorded heavy short selling on Tether This was confirmed yesterday by Tether‘s CTO Paolo Ardoino, saying that in particular the USDT/USD perpetual futures exchange pair was targeted. 2/Tools: USDt/USD perps (the perfect attack vector that offers an asymmetric bet), spot short selling, DeFi pools unbalancing, …Goal: create enough pressure, in the billions, causing ton of outflows to harm Tether liquidity and eventually buy back tokens at much lower price. — Paolo Ardoino (@paoloardoino) June 27, 2022…
Yesterday Crypto.com officially announced the removal of 13 cryptocurrencies from its Earn program. Crypto Earn changes effective 27 June 2022: $FTM, $ZIL and $NEAR are now available for Crypto Earn Select tokens no longer available Revised rewards rates for select stablecoins pic.twitter.com/cqkklGHZC3 — Crypto.com (@cryptocom) June 27, 2022 The 13 cryptocurrencies removed from Crypto.com’s Earn program. The official statement says that the following tokens are no longer available on Crypto Earn as of yesterday: SHIB, DOGE, XTZ, MKR, EOS, OMG, FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX, BNT. Prominent among these, in addition to Tezos, Maker, and EOS, are…
A report by the US investment bank shows how Ethereum’s new upgrade to Proof-of-Stake may not solve the blockchain’s scalability problems. Ethereum merge could drive down demand for GPUs Switching to Ethereum’s PoS could generate a drop in GPU demand In a report authored by Morgan Stanley equity strategist Sheena Shah, the new Ethereum Arrow Glacier update, which should be in the home stretch by now, could generate a drop in demand for GPUs, the graphics processing units used by miners. Shah wrote in a report a few days ago that after the big drops in the market in recent…