Author: Donald Munn
Over the weekend, the decentralized protocol Beanstalk suffered an $80 million hacking attack. The hacker attack on the DeFi Beanstalk platform Hacker attack against the DeFi Beanstalk protocol The attackers exploited a flaw in the protocol, resulting in a loss of $180 million in crypto. However, they were only able to collect $80 million due to the collapse in value of the BEAN token. Compared to its pre-hack value, BEAN lost more than 90% of its value in about two hours, which also reduced the hackers’ real profit. The hackers had managed to steal 24,830 ETH and more than 36…
Bitcoin Analysis Bitcoin’s price rallied on Monday after trading lower over the Easter holiday weekend. BTC’s price concluded its daily session +$1,113.4. The BTC/USD 1D chart below from BlakeWissemann shows that BTC’s price broke its bear flag pattern to the downside before finishing just above support on the daily timescale. As noted yesterday, there’s potential support at the $36,5k level but the chartist below highlights the $30,5k-$33,1k zone as the next serious support level for bulls. BTC/USD 1D chart: price broke its bear flag pattern The Fear and Greed Index is 27 Fear and is +3 from Monday’s reading of…
In an interview with CNBC, Mohamed El-Erian, Chief Economic Advisor at Allianz, commented that he thinks the Federal Reserve’s delayed response to inflation will cause the value of Bitcoin and cryptocurrencies to go higher. Allianz: Mohamed El-Erian predicts growth of Bitcoin and crypto According to Mohamed El-Erian, Chief Economic Advisor of Allianz, Bitcoin and other crypto will continue to grow in the near future Allianz Chief Economic Advisor Mohamed El-Erian was interviewed by CNBC on Monday about the US economy. One of the clips from yesterday's @CNBC interview. Thank you @andrewrsorkin for the interesting conversion on the #economy, #inflation, #gold,…
Following in China’s footsteps, Russia’s Central Bank has been developing the digital rouble for a few years now. Digital rouble, what is a CBDC? A new CBDC is coming, the digital ruble CBDCs, or Central Bank Digital Currencies, are digital currencies that are linked to the performance of the fiat currency. As with the tried and tested Chinese digital yuan, we may soon have a Russian counterpart. These digital tokens, similar to cryptocurrencies, are issued by the Central Bank of the country that issues and regulates them. These currencies allow for greater financial inclusion, facilitate monetary policies and unlike cryptocurrencies…
Bearish sentiment has caused Bitcoin’s trading volume to plummet 60% this year compared to last year. Data on Bitcoin transaction volume Recorded a 60% drop in Bitcoin transaction volume from last year Bitcoin trading volume on exchanges during the first quarter of the year dropped 60% globally compared to last year. In fact, in the first quarter of 2022, it totaled $2,420 billion, while in the first quarter of 2021 it was as high as $6,020 billion. However, it is worth noting that between January and March 2021 there was a real bull run going on, with the price heading…
After Coinbase announced a new trilogy of films featuring the Bored Ape NFT collection, ApeCoin jumps 17%. The Degen Trilogy, a new project between Coinbase and Bored Ape Yacht Club The new film trilogy born from the collaboration between Coinbase and the Bored Ape Yacht Club and Apecoin community Coinbase, the famous American exchange led by Brian Armstrong, has announced the launch of a cinematic media project, featuring the NFT community Bored Ape Yacht Club and its flagship crypto ApeCoin. The Degen Trilogy: this is the name of the series that will feature three films inviting owners of Bored Ape…
The world of hi-tech fashion continues to surprise us. The latest great creation to unite the crypto and fashion industries is a collaboration between Bitrefill, NBA star Spencer Dinwiddie, and TNSID. The crypto company, together with one of the greatest US basketball players, is launching Bitsneaks, sneakers that display the real-time price of Bitcoin on a small LED screen on the side of the shoe. The world of fashion marries the crypto sector, trainers and Bitcoin The new Bitsneaks Bitrefill is a company already known for creating products and services that bring Bitcoin into the real world. A crypto company…
Crypto Head published a report defining which cryptocurrencies (Bitcoin and Ethereum) and industry companies will reach the $1 trillion market cap the quickest. Cryptocurrencies and companies in the sector that will soon reach the trillion dollar mark. Data according to the Crypto Head report According to Crypto Head’s analysis, there are two cryptocurrencies that are on track to reach the $1 trillion mark by next year. Not only that, a number of crypto companies are also growing so fast, they are on track to reach the same milestone in terms of market capitalization. Basically, the Crypto Head team studied the…
In the last few days, a recent report by Arcane Research has caused quite a stir, claiming that more than 80 million people accessed Lightning Network payments via apps in March. NEW REPORT: The State of Lightning – Vol 2 Powered by @OpenNode Adoption is rising quickly, and the use of Lightning is growing much faster than the public numbers show. Learn more in our new report:https://t.co/bhSGLvfz3J pic.twitter.com/hnWhPDjljH — Arcane Research (@ArcaneResearch) April 7, 2022 The fact is that thanks to apps like Strike, or Chivo, many Bitcoin users don’t even know they are using the Lightning Network. These apps,…
There is a persistent hypothesis circulating that the price of Bitcoin could exceed $50,000 in the next 10 days, supported by two dynamics already in place. Hypothesis on the Bitcoin price Bitcoin’s price is expected to rise to $ 50,000 in the next 10 days A hypothesis is circulating that the price of Bitcoin could return to around $50,000 within the next ten days or so. It has been suggested for a few weeks now that the price of BTC could return to these levels in the short to medium term, but this time a date has been proposed: 28…