Getting the story straight: Blockchain to curb fake news

With the United States Presidential Election set for next month, the concern over fake news has once again dominated public discourse. Fake news — the deliberate spreading of verifiably false information under the disguise of being an authentic news story ­— not only undermines the public’s confidence in the free press, it inflames social . . . → Read More: Getting the story straight: Blockchain to curb fake news

Price analysis 10/16: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

Chicago Mercantile Exchange’s cash-settled Bitcoin (BTC) futures trading products “contribute more to price discovery than its related spot markets,” according to findings in a new report by investment firm Wilshire Phoenix.

The increasing volumes of crypto derivative products highlight greater participation from institutional investors and this will likely be positive for the entire crypto . . . → Read More: Price analysis 10/16: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

Almost 1M Ether would have been burnt in past year if fee proposal approved

The controversial Ethereum Improvement Proposal (EIP) 1559 would have burnt 970,000 Ether (ETH) — with a total value of $360 million — in the last year, if it had been implemented. EIP-1559 seeks to reduce transaction fees by introducing flat fees alongside a burn mechanism,

The findings, based on Dune Analytics data and published . . . → Read More: Almost 1M Ether would have been burnt in past year if fee proposal approved

Cointelegraph Consulting: Ethereum’s on-chain activity surges and bullish sentiment spikes

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicates that discussions around Ethereum have switched from highly bearish to predominantly bullish. Historically, this hasn’t meant good news for the token’s price.

Ethereum’s on-chain activity, measured by unique daily addresses, has rebounded from its nose dive at the end of summer. . . . → Read More: Cointelegraph Consulting: Ethereum’s on-chain activity surges and bullish sentiment spikes

Game theory meets DeFi: Bouncing ideas around tokenomic design

Jack Lu, 23, was struck by the idea for his new DeFi platform Bounce while working on his thesis on game theory and cryptocurrency at Reed College in California.

“It took me quite a long time to think of it,” Lu explains about his game theory influenced auction platform. “Everyone was talking about . . . → Read More: Game theory meets DeFi: Bouncing ideas around tokenomic design

Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume

A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space. 

In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely . . . → Read More: Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume

Yearn Finance’s founder says he ‘doesn’t build for speculators’

The founder of Yearn Finance, Andre Cronje, has seen a fair share of criticism lately as he deployed some smart contracts that ended up losing users’ money. Cronje defended himself in a blog post and explained why he believes he shouldn’t be held responsible for those who “ape in” his testing contracts.

Cronje will . . . → Read More: Yearn Finance’s founder says he ‘doesn’t build for speculators’

Finance Redefined: Can DeFi and on-chain governance change human nature? Oct. 7-14

This week, one bit of news really grabbed my attention: Dharma getting criticized for allegedly trying to capture Uniswap governance.

Dharma is the company behind a crypto payments and exchange app, a sort of Ethereum-based cousin of Square’s Cash App. Or at least that’s what I previously used to describe it — . . . → Read More: Finance Redefined: Can DeFi and on-chain governance change human nature? Oct. 7-14

Bitcoin and Ether now account for 44% of the value locked in DeFi

The recent explosive growth of decentralized finance has seen the sector lock nearly $4 billion worth of Bitcoin (BTC) and Ether (ETH) in less than five months.

According to DeFi Pulse, the number of Ether locked up in DeFi protocols increased 218.5% since June, growing from 2.7 million ETH to 8.6 million ETH. Locked . . . → Read More: Bitcoin and Ether now account for 44% of the value locked in DeFi

More than half of all Ethereum hasn’t moved in 12 months

More than half of Ethereum’s circulating supply has not moved in more than a year, with only 39.6% of Ether (ETH) changing hands over the past 12 months.

According to Glassnode’s “hodlwaves” chart, which offers a chronological breakdown of the velocity of on-chain transactions, roughly 28% of Ether last moved between the past 12 . . . → Read More: More than half of all Ethereum hasn’t moved in 12 months

Price analysis 10/14: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

The bond yields across most developed economies have dropped sharply since the central banks unleashed a slew of measures to counter the economic crisis caused by the COVID-19 pandemic.

This could pose a challenge to the institutional investors who rely on the traditional 60/40 portfolio allocation between equities and fixed income instruments. 

This . . . → Read More: Price analysis 10/14: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

Multiple data points suggest Bitcoin’s 2017-style bull run has begun

Last week, Bitcoin (BTC) saw its price rise 6.95%, rising from $10,804 on October 5 to $11,555 by October 12. The surge marked the best performing week for the price of Bitcoin since July and data show a noticeable shift in market sentiment around the digital asset.

According to data from TheTie, an . . . → Read More: Multiple data points suggest Bitcoin’s 2017-style bull run has begun

Regrets — Ripple’s CTO sold 40,000 Ether for just $1 each

Ripple’s Chief Technology Officer, David Schwartz, has revealed that he and his wife decided to make a “derisking plan” for their crypto investments in 2012 — resulting in eight-figures worth of missed profit at current prices.

In a series of tweets published on October 11, Schwartz revealed that he sold 40,000 Ether (ETH) . . . → Read More: Regrets — Ripple’s CTO sold 40,000 Ether for just $1 each

Price analysis 10/12: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, CRO

U.S. equity markets are nearing all-time highs on the hopes that Democrats and Republican will break their current stalemate and strike a deal to release another round of stimulus for American citizens and the small businesses they operate.

While these monetary and fiscal stimulus measures have been proven to boost stock market . . . → Read More: Price analysis 10/12: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, CRO

Things just got MESSy for potential Ethereum Classic 51% attackers

Over the past weekend, on block 11380000, a solution for the prevention of 51% attacks was introduced to the Ethereum Classic (ETC) community. Several such attacks have recently placed ETC at a crossroads, leaving the very survival of the chain uncertain. In the weeks that followed these attacks, the community worked to evaluate numerous . . . → Read More: Things just got MESSy for potential Ethereum Classic 51% attackers

Second Ethereum 2.0 launch rehearsal puts it on track for 2020 release

Ethereum successfully launched yet another dress-rehearsal testnet for the upcoming Ethereum 2.0 Phase 0, dubbed Zinken.

The launch occurred on Monday at 12 P.M. UTC and unlike previous attempts, was a smooth launch with enough participation and no major bugs.

The testnet was organized following the bittersweet launch of Spadina, the first rehearsal . . . → Read More: Second Ethereum 2.0 launch rehearsal puts it on track for 2020 release

DeFi market fall showcases how rising TVL doesn’t tell the full story

The decentralized finance market seems to be deflating after the DeFi summer craze when tokenized versions of Bitcoin and protocols, such as Uniswap and SushiSwap, outperformed the rest of the market. Earlier in October, the two main DeFi indices, Binance’s DeFi Composite Index and TokenSet’s DeFi Pulse Index Set lost more than 60% . . . → Read More: DeFi market fall showcases how rising TVL doesn’t tell the full story

Aztec launches private smart contracts as Ethereum rollup

Aztec, a privacy protocol developing on Ethereum, announced on Monday the launch of its second iteration, promising private transactions and smart contracts while being cheaper than standard transfers.

The layer two solution adopted by Aztec relies on zkRollups, similar to Loopring or ZkSync. All these protocols rely on zero knowledge proofs to help . . . → Read More: Aztec launches private smart contracts as Ethereum rollup

Ethereum miners made 450K ETH from high network fees during DeFi peak

Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees. 

Miners took home 450,089 ETH in fees ($168.7 million) and . . . → Read More: Ethereum miners made 450K ETH from high network fees during DeFi peak

Price analysis 10/9: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, LTC, BSV

Payments giant, Square, has become the second listed company after MicroStrategy to buy Bitcoin (BTC). Although Square’s purchase of 4,709 Bitcoin is much smaller than MicroStrategy’s haul of 38,250 Bitcoin, many investors feel that this is a welcome step in the right direction.

The acquisition of cryptocurrency by large listed companies such . . . → Read More: Price analysis 10/9: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, LTC, BSV

Ethereum’s fees higher than Bitcoin’s for a record two straight months

Ethereum (ETH) transaction fees have exceeded those on the Bitcoin (BTC) network for two months straight.

Crypto market data aggregator Messari tweeted about the streak on October 8, noting it is the longest period that Ethereum’s transaction fee revenue has exceeded Bitcoin’s in the crypto asset’s history.

Ethereum fees have . . . → Read More: Ethereum’s fees higher than Bitcoin’s for a record two straight months

Finance Redefined: DeFi party’s over, back to building now, Sept. 30—Oct. 7

This week in DeFi was notable for its lack of notable events. Nobody set new records for the fastest hack of a new contract, nobody famous exit scammed or pulled a DeFi Jesus reincarnation act.

You can just feel that something is different now. It used to be that every weekend we’d discover . . . → Read More: Finance Redefined: DeFi party’s over, back to building now, Sept. 30—Oct. 7

Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV

Crypto prices may be in a rut but that doesn’t mean product development and acquisitions cease to occur. This week Japanese financial firm SBI Holdings acquired a 100% stake in TaoTao cryptocurrency exchange. 

With the latest acquisition, SBI now owns two cryptocurrency trading platforms. This suggests that the financial conglomerate is betting on . . . → Read More: Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV

3 key on-chain metrics point to a bullish reversal in Ethereum price

While Ether (ETH) price has been stuck between the $340-$350 range for the last month, multiple on-chain metrics suggest that a recovery may be building.

Santiment, a cryptocurrency data analytics firm, recently noted that the number of deposits to exchanges has been decreasing since the start of September. According to the firm, . . . → Read More: 3 key on-chain metrics point to a bullish reversal in Ethereum price

DeFi indexes crash despite strong fundamentals

On August 28, Binance Futures launched its DeFi Composite Index, a basket of DeFi tokens that initially comprised 27% Chainlink (LINK) and 11% Aave (LEND) alongside nine other prominent DeFi tokens that made up between 6% and 9.5% of the index each. Updated weekly, the index now tracks 19 different crypto assets.

However the . . . → Read More: DeFi indexes crash despite strong fundamentals

MetaMask hits 1M monthly users thanks to DeFi boom

MetaMask, the Ethereum (ETH) browser wallet developed by ConsenSys, has surpassed one million monthly active users for the first time.

The milestone comes roughly seven months after the wallet first surpassed one million users in total, suggesting the parabolic rise of decentralized finance (DeFi) in 2020 has driven the surge in MetaMask’s user base.

. . . → Read More: MetaMask hits 1M monthly users thanks to DeFi boom

Price analysis 10/5: BTC, ETH, XRP, BNB, BCH, DOT, LINK, CRO, LTC, ADA

A recent report by ARK Investment Management LLC presents a strongly bullish case for Bitcoin’s (BTC) future value. The group projects that Bitcoin’s network capitalization will rise to $1-$5 trillion over the next five to ten years. The asset manager argues that Bitcoin offers one of the most attractive risk to reward ratios . . . → Read More: Price analysis 10/5: BTC, ETH, XRP, BNB, BCH, DOT, LINK, CRO, LTC, ADA

Many yield farmers lost more than they bargained for when they trusted this DeFi dev

Yield farmers looking for a quick profit were recently taken in by a dubious DeFi protocol called UniCats — a yield farming scheme reminiscent of other, more famous protocols like SushiSwap or Yam Finance.

According to ZenGo researcher Alex Manuskin, at least one of its users lost more than $140,000 worth of Uniswap’s . . . → Read More: Many yield farmers lost more than they bargained for when they trusted this DeFi dev

No single blockchain can carry all of DeFi right now, MyEtherWallet founder says

Most of decentralized finance’s potential scaling options come at the cost of decentralization, according to Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet. 

“From a perspective of fully decentralized blockchains, there’s no blockchain that has a good enough scaling solution to support this many transactions,” Hemachandra told Cointelegraph in an interview. “When you . . . → Read More: No single blockchain can carry all of DeFi right now, MyEtherWallet founder says

BitMEX charges, Bitcoin stays calm, KuCoin ‘identifies’ hack suspects: Hodler’s Digest, Sept. 28–Oct. 4

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!

Top Stories This Week CFTC charges BitMEX with illegally operating derivatives exchange

The U.S. Commodity Futures Trading Commission has charged the derivatives exchange BitMEX with operating an unregistered trading platform and violating Anti-Money Laundering . . . → Read More: BitMEX charges, Bitcoin stays calm, KuCoin ‘identifies’ hack suspects: Hodler’s Digest, Sept. 28–Oct. 4

DeFi craze propels Uniswap monthly volume to $15.3B, surpassing Coinbase

Data from Dune Analytics shows that in the month of September Uniswap decentralized exchange processed $15.371 billion in volume. In the same period, reports indicate that Coinbase processed $13.6 billion.

Monthly decentralized exchange volume. Source: Dune Analytics

The significant spike in Uniswap’s volume can be attributed to two major . . . → Read More: DeFi craze propels Uniswap monthly volume to $15.3B, surpassing Coinbase

ETH 2.0 represents a material risk to Grayscale’s Ethereum Trust, says SEC filing

According to the latest SEC disclosure by the Grayscale Ethereum Trust, or ETHE, the impending transition of Ethereum (ETH) to the proof-of-stake consensus represents a risk that could have a “material adverse effect” on its shares.

The ETHE recently filed an application with the regulator to become an SEC-reporting company. Companies of this nature . . . → Read More: ETH 2.0 represents a material risk to Grayscale’s Ethereum Trust, says SEC filing

Price analysis 10/2: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, BSV, LTC

The shallow pullback in Bitcoin (BTC) following the news of the CFTC’s regulatory crackdown on BitMEX and the late announcement that U.S. President Donald Trump tested positive for coronavirus shows that the underlying sentiment is still bullish.

Generally, most damage during such periods of negative news flow is caused by the squaring up . . . → Read More: Price analysis 10/2: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, BSV, LTC

Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that regular users are returning to Ethereum in response to lower transaction fees.

Several influential Ethereum cohorts — including miners and some of Ethereum’s largest non-exchange addresses — have been showing signs of ongoing accumulation and increased confidence in . . . → Read More: Cointelegraph Consulting: Whales accumulate Ethereum as sell pressure falls

SushiSwap’s liquidity grab actually made Uniswap stronger — Data shows

SushiSwap is widely thought to have syphoned liquidity from Uniswap but new data from Flipside Crypto, a cryptocurrency on-chain analytics resource, suggests that the decentralized exchange’s launch mechanism actually benefited Uniswap by bringing new money into its liquidity pools.

On Aug. 28, SushiSwap announced that it would launch its own decentralized exchange and many . . . → Read More: SushiSwap’s liquidity grab actually made Uniswap stronger — Data shows

Researcher suggests miners are manipulating Ethereum blocks to exploit DeFi

Some Ether (ETH) miners appear to be re-engineering blocks to take advantage of DeFi opportunities in an instance of what is termed “miner extractable value,” or MEV.

Miner extractable value was long anticipated by researchers as a potential exploit pattern for DeFi that leverages the miners’ unique protocol influence. Since miners have free . . . → Read More: Researcher suggests miners are manipulating Ethereum blocks to exploit DeFi

SingularityNET set to ditch Ethereum for Cardano citing speed and cost issues

SingularityNET, the AI company behind the expressive robot Sophia, is “seriously discussing” a migration from Ethereum to Cardano, after announcing a collaboration with IOHK.

IOHK is run by the founder of Cardano, Charles Hoskinson, and drives the development of the blockchain platform.

SingularityNET is a full-stack AI platform that lets anyone create, . . . → Read More: SingularityNET set to ditch Ethereum for Cardano citing speed and cost issues

Price analysis 9/30: BTC, ETH, XRP, BCH, BNB, DOT, LINK, BSV, CRO, ADA

According to data from CryptoQuant, the total amount of Bitcoin (BTC) held in exchange reserves dropped from 2.8 million BTC in October 2019 to 2.4 million. Analysts believe that this steady decline in reserves means retail traders and whales may be accumulating Bitcoin as they expect prices to rise in the future.

. . . → Read More: Price analysis 9/30: BTC, ETH, XRP, BCH, BNB, DOT, LINK, BSV, CRO, ADA

The first fundamental study of DeFi: From ideas to mechanisms to the new finance

With its year-to-date growth of more than 15x in total value locked, and more than $11 billion committed to the protocols, decentralized finance (DeFi) has become a mainstay in the crypto industry, and a whole new industry in itself. Meanwhile, its shape as a concrete market has not been defined with substantial . . . → Read More: The first fundamental study of DeFi: From ideas to mechanisms to the new finance

Global economy saved: Reddit’s MOON token has a $2.64 septillion market cap

In defiance of Reddit’s apparent wishes, crypto traders have devised a way to exchange the social platform’s ‘community points’  tokens for fiat — and it’s resulted in a pretty surprising market cap. 

In May Reddit announced it would begin distributing ERC-20 rewards tokens on the Rinkeby testnet among users of its cryptocurrency and Fortnite . . . → Read More: Global economy saved: Reddit’s MOON token has a $2.64 septillion market cap

93% of the top 250 coins declined in price in September

Over the last few months, DeFi protocols including Yearn.Finance, Compound, Synthetix, and Chainlink have seen their token prices go through the roof, sparking talk that the long-awaited bull market might be here. 

The DeFi boom is built on Ethereum and propelled ETH’s price rise from $100 in March to $470 in August.

However, the . . . → Read More: 93% of the top 250 coins declined in price in September

DeFi is too ‘noisy,’ MyEtherWallet CEO says

The crypto space’s decentralized finance niche has reached frenzied status within the crypto industry, signaled by exuberant price highs and rampant speculation.

“DeFi is the new overhyped concept in Ethereum,” MyEtherWallet, or MEW, CEO and founder Kosala Hemachandra told Cointelegraph in an interview. “The noise is too much, so everyone is just like running . . . → Read More: DeFi is too ‘noisy,’ MyEtherWallet CEO says

Launch rehearsal for Ethereum 2.0 ‘90% successful’ despite participation issues

The latest in a series of Ethereum 2.0 testnets, called Spadina, launched on Tuesday with mixed success.

Spadina was proposed as a short-lived “dress rehearsal” for the mainnet launch process, signaling that Ethereum 2.0 Phase 0 is getting ever closer. The network launched on Sept. 29 at 12 P.M. UTC, and was intended . . . → Read More: Launch rehearsal for Ethereum 2.0 ‘90% successful’ despite participation issues

Report: Impermanent loss on Uniswap and other AMMs is always permanent

Alexis Direr, a researcher at the University of Orleans in France, has released a paper summarizing the mathematical underpinnings of Uniswap and other exchanges based on Automated Market Makers.

Automated Market Maker is the term for a class of decentralized exchange that reached significant popularity in 2020, spearheaded by Uniswap.

In a nutshell, these . . . → Read More: Report: Impermanent loss on Uniswap and other AMMs is always permanent

Price analysis 9/28: BTC, ETH, XRP, BCH, BNB, DOT, LINK, ADA, BSV, CRO

Bitcoin (BTC) soared above $10,000 on July 27 and has sustained above this level since then. Data shows that this streak of 63 consecutive days of closes above the $10,000 level is a new record.

This also shows that  the level has now become a strong support after previously acting as a stiff . . . → Read More: Price analysis 9/28: BTC, ETH, XRP, BCH, BNB, DOT, LINK, ADA, BSV, CRO

Ethereum cumulative fees in 2020 eclipsed Bitcoin’s for the first time

Cumulative transaction fees paid to Ethereum (ETH) miners for 2020 are now close to double those of Bitcoin (BTC), clocking in at $276 million versus $146 million.

A chart released by Coinmetrics highlights how Ethereum fees went on a steep ascent in the latter part of the year, coinciding quite closely with the release . . . → Read More: Ethereum cumulative fees in 2020 eclipsed Bitcoin’s for the first time

Investor losses legal battle against Bithumb for 2017 data breach incident

According to news agency Yonhap, Bithumb will not have to repay a crypto investor who allegedly lost $401,000 as a result of a 2017 data breach suffered by the firm.

A High Court judge determined that the man (identified as “Mr. A” for privacy purposes) had failed to successfully prove that . . . → Read More: Investor losses legal battle against Bithumb for 2017 data breach incident

Bitcoin price may surge as fear and uncertainty strain global markets

The global economy doesn’t seem to be in a good place right now, especially with countries such as the United Kingdom, France and Spain imposing fresh, new restrictions across their borders, thereby making the future financial prospects of many local business owners even bleaker.

As far as the crypto economy goes, on Sept. 21, . . . → Read More: Bitcoin price may surge as fear and uncertainty strain global markets

Why traders are not worried that the KuCoin hack will drop Ethereum price

Analysts say that the unknown hacker behind the KuCoin breach is selling the stolen ERC-20 tokens on Uniswap. Although selling tokens on the Ethereum-based decentralized exchange allows the hacker to obtain Ether (ETH), it doesn’t mean it’s laundered.

All transactions made on the Ethereum blockchain network are traceable using blockchain explorers, meaning even . . . → Read More: Why traders are not worried that the KuCoin hack will drop Ethereum price

Ethereum still not ready for DeFi, say some critics

As DeFi projects flock to Ethereum, experts warn the network is not yet ready to support the frenzy.

Martin Froehler, a mathematician, former hedge fund manager, and founder of Austrian crypto trading platform Morpher, told Cointelegraph that although Ethereum is the “best thing [the blockchain industry] has” for DeFi, the current . . . → Read More: Ethereum still not ready for DeFi, say some critics

Spikes in gas prices slowing growth of new NFT marketplaces

High gas prices have become a problem for non-fungible token (NFT) marketplaces, especially as they look to mint at scale, the founder of a start-up said. 

Sean Papanikolas, founder of NFT marketplace Cargo, told Cointelegraph in an interview that the NFT sector is at an inflection point. But scalability weighs on new . . . → Read More: Spikes in gas prices slowing growth of new NFT marketplaces

The top crypto-mining graphics cards to get a big bang for your buck

Now that we are at the tail end of 2020, the big hardware manufacturers are starting to announce their latest, fastest offerings set to be released ahead of the holiday season. Meanwhile, the cryptocurrency mining market continues to expand rapidly against all odds. Here’s an overview of which producers offer the best . . . → Read More: The top crypto-mining graphics cards to get a big bang for your buck

Price analysis 9/25: BTC, ETH, XRP, BCH, DOT, LINK, BNB, CRO, LTC, BSV

According to a study by researchers at the Cambridge Centre for Alternative Finance, the number of people who own Bitcoin (BTC) and other digital assets has surged from about 35 million in 2018 to over 100 million. This is a positive sign because the growth continued even when the crypto markets were not . . . → Read More: Price analysis 9/25: BTC, ETH, XRP, BCH, DOT, LINK, BNB, CRO, LTC, BSV

Did a class-action suit play a role in Maker’s refusal to compensate March crash victims?

After multiple rounds of voting and heated discussion, the final vote to compensate losses for Maker (MKR) users that were liquidated “unfairly” during the March crash failed.

About 52,500 MKR voted against any compensation, which accounted for 65% of the total votes. This amounts to about 8% of the total MKR supply, which . . . → Read More: Did a class-action suit play a role in Maker’s refusal to compensate March crash victims?

Inside the blockchain developer’s mind: The governance crisis

This is Part 3 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 2 on the vertical scaling crisis here.

Upgradeability, vertical scaling and governance: What all three of these issues have . . . → Read More: Inside the blockchain developer’s mind: The governance crisis

Preliminary tests suggest Nvidia RTX 3000 series may take AMD’s mining crown

The newly released generation of Nvidia graphics cards, the RTX 3000 series, is generating some buzz among miners as it is expected to be a vast improvement over the previous generations.

While the cards were initially speculated to be only a minor upgrade, new information seems to confirm that they could reach hash . . . → Read More: Preliminary tests suggest Nvidia RTX 3000 series may take AMD’s mining crown

You can now trade on Uniswap without leaving Twitter

Mask Network has launched a trading widget allowing Twitter users to access market data and trade Ethereum-based crypto assets without leaving the platform.

Powered by Uniswap and CoinMarketCap, the new Mask widget brings up a window featuring market data and an interface for trading on Uniswap when users hover the mouse pointer over . . . → Read More: You can now trade on Uniswap without leaving Twitter

WTF happened in 1971 (and why the f**k it matters so much right now)

If you’ve ventured on to Crypto Twitter this year, you may have seen a tweet from the meme account WTF Happened in 1971?

Created in March, the account posts numerous times a week to its fast growing fanbase of 10,500 followers. A typical post features a graph that shows how inequality has grown in . . . → Read More: WTF happened in 1971 (and why the f**k it matters so much right now)

Inside the blockchain developer’s mind: The vertical scaling crisis

This is Part 2 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 3 on the governance crisis as it goes live on Sept. 25.

The advent of the internet has revealed . . . → Read More: Inside the blockchain developer’s mind: The vertical scaling crisis

Binance’s CZ says Buterin ‘proved me wrong’ and DeFi full of bubbles

Decentralized finance is in full swing, and one of its biggest supporters appears to be the exchange Binance. The platform’s United States branch recently joined the Chicago DeFi Alliance, with the aim to further develop the U.S. DeFi industry. Additionally, Binance’s support for new DeFi projects continues to grow. Most recently, the exchange . . . → Read More: Binance’s CZ says Buterin ‘proved me wrong’ and DeFi full of bubbles

Price analysis 9/23: BTC, ETH, XRP, BCH, DOT, BNB, CRO, LTC, LINK, BSV

According to survey data from crypto asset insurance firm, Evertas, institutional investors believe that clearer regulations and better infrastructure in terms of trading, reporting, and custodial services will increase their participation in the crypto market.

About a quarter of the respondents expect that pension funds, sovereign wealth funds, insurance companies, and family . . . → Read More: Price analysis 9/23: BTC, ETH, XRP, BCH, DOT, BNB, CRO, LTC, LINK, BSV

Whales profit mightily from lucrative DeFi yield farming: Data shows

Decentralized Finance has taken crypto by storm providing holders with a wide range of options to earn high-yield returns on their crypto and stablecoin holdings. DeFi has not only led to huge rallies in the prices of governance and reward tokens like YFI and LEND but it has also given way to a . . . → Read More: Whales profit mightily from lucrative DeFi yield farming: Data shows

Rise of DeFi wars? Uniswap’s UNI token airdrop starts a crypto rivalry

Uniswap’s new UNI token has created a buzz in the DeFi world, with over 13,000 users claiming their tokens within three hours of its launch. This move was in response to SushiSwap’s decision to migrate almost $1 billion of funds from Uniswap through a “vampire mining” attack, which is the migration of an . . . → Read More: Rise of DeFi wars? Uniswap’s UNI token airdrop starts a crypto rivalry

Inside the blockchain developer’s mind: The upgradeability crisis

This is Part 1 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 2 on the vertical scaling crisis here and Part 3 on the governance crisis here.

It is our belief that there are three fundamental problems, or crises, that . . . → Read More: Inside the blockchain developer’s mind: The upgradeability crisis

Yield farmers make 500% returns but most can’t read smart contracts

The majority of yield farmers do not understand how to read the potentially risky smart contracts that underpin the decentralized finance (DeFi) ecosystem — but that hasn’t stopped them making huge profits.

Crypto market data aggregator CoinGecko has published its findings from a survey of 1,347 of its users about yield farming, finding that . . . → Read More: Yield farmers make 500% returns but most can’t read smart contracts

Price analysis 9/21: BTC, ETH, XRP, BCH, DOT, BNB, LINK, CRO, LTC, BSV

Legacy and crypto crypto markets saw a strong correction today as traders fear that the second round of economic stimulus might be delayed as the White House, Senate and Congress could become entangled in a fight to fill the vacancy created by the passing of Supreme Court Justice Ruth Bader Ginsburg. 

In addition . . . → Read More: Price analysis 9/21: BTC, ETH, XRP, BCH, DOT, BNB, LINK, CRO, LTC, BSV

After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

The crypto market saw a significant correction today and Ether (ETH) price did not escape the carnage. In the last 24 hours, the top altcoin recorded a 12% drop as the price fell to $331. In the same period, Bitcoin (BTC) price slipped by 6.3% to find support near $10,300.

Ether’s decline comes . . . → Read More: After 16% drop, traders target $250 Ethereum price — Here’s 3 reasons why

ETH price loses ground, but network metrics say DeFi season not over yet

Ether has dropped around 30% from its 2020 high of $482 on Sept. 1 to $340 in five days. The drop in the price of Ether (ETH) and Bitcoin (BTC) was largely due to the rising dollar, which has stopped Bitcoin’s bull run in its tracks. Ether is still sitting at around $340, failing . . . → Read More: ETH price loses ground, but network metrics say DeFi season not over yet

Uniswap payday, ETH transactions hit record high, EU backs stablecoins: Hodler’s Digest, Sept. 14–20

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!

Top Stories This Week Frenzy as Uniswap launches new governance token

Uniswap stole the show this week when it announced it was launching UNI, its very own governance token. A total of 1 billion . . . → Read More: Uniswap payday, ETH transactions hit record high, EU backs stablecoins: Hodler’s Digest, Sept. 14–20

More pump than dump: 22% Uniswap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80.

Cryptocurrency daily market performance snapshot. Source: Coin360

UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive . . . → Read More: More pump than dump: 22% Uniswap (UNI) price drop doesn’t faze traders

Price analysis 9/18: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

The U.S. Federal Reserve recently hinted that it could keep interest rates near zero at least through 2023. The Bank of England went a step ahead and said that it could explore options for cutting rates below zero in order to support an economy battered by the coronavirus lockdowns and the upcoming Brexit.

. . . → Read More: Price analysis 9/18: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

Ethereum enterprise adoption wins Accenture’s support with Baseline Protocol

The first stage of the highly anticipated upgrade to the Ethereum blockchain, Ethereum 2.0, is expected to launch by the end of this year. Promising to increase the throughput and lower the latency of the Ethereum mainnet, these steps are likely to bring wider adoption in business and commerce.

Ben Edgington, product owner . . . → Read More: Ethereum enterprise adoption wins Accenture’s support with Baseline Protocol

Daily Ethereum transactions hit a new historical high amid DeFi boom

Daily transactions on the Ethereum blockchain have just recorded a new all-time high amid the general surge of congestion on the network.

On Sept. 17, the amount of daily transactions on the Ethereum network amounted to 1,406,000, according to data from major Ethereum browser Etherscan. This is the highest number of daily transactions ever . . . → Read More: Daily Ethereum transactions hit a new historical high amid DeFi boom

Cointelegraph Consulting: ERC-20 token’s market cap overtakes Ethereum’s

The latest findings by Santiment, published in Cointelegraph Consulting’s biweekly newsletter, suggest that Ethereum is temporarily being ‘professionalized’. 

Since the September 2nd market crash, the combined market capitalization of all ERC-20 assets has overtaken Ethereum’s own market cap, with the differential between the two continuing to grow in favor of ERC-20 assets. . . . → Read More: Cointelegraph Consulting: ERC-20 token’s market cap overtakes Ethereum’s

Coinbase Pro passes gas fees to users as ETH miner revenue hits 5 year high

Ethereum miners’ hourly revenue has hit a five-year record, with fees currently bringing in 2,275 ETH ($880K) per hour.

The spike was triggered by yesterday’s announcement that Uniswap would airdrop it’s governance token UNI to past users of the decentralized exchange. Following the UNI announcement, more than 70,000 users rushed to claim free tokens . . . → Read More: Coinbase Pro passes gas fees to users as ETH miner revenue hits 5 year high

Record $1B in tokenized Bitcoin shows BTC holders want a slice of DeFi

After failing to hold the $11K mark and exposing what some analysts have described as a general apathy to trade BTC at these levels, Bitcoin (BTC) price is once again flirting with $11,000. 

As suggested by Cointelegraph contributors Marcel Pechman and Micheal van de Poppe, a move above $11K is not a . . . → Read More: Record $1B in tokenized Bitcoin shows BTC holders want a slice of DeFi

13,000 DeFi users have already claimed Uniswap’s new UNI token

Decentralized finance (DeFi) platform Uniswap’s governance protocol token UNI went live on Ethereum earlier today. The community showed immediate support for the new token with Uniswap’s Twitter announcement garnering over 1.2 thousand likes in the first 90 minutes.

150 million UNI, or 15% of the token’s supply, is now available to be claimed by . . . → Read More: 13,000 DeFi users have already claimed Uniswap’s new UNI token

Price analysis 9/16: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

This week MicroStrategy, a Nasdaq-listed company, announced that it had added 16,796 Bitcoin (BTC) to its existing holding of 21,454 Bitcoin. This means in less than a year the firm has amassed 38,250 Bitcoin. This is a defining moment as MicroStrategy becomes the first public company to adopt a Bitcoin standard. 

Other . . . → Read More: Price analysis 9/16: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

You can now send email right from your Ethereum address

Unstoppable Domains has introduced a new feature — Unstoppable email. Now anyone who owns a domain with a .crypto extension can send email signed by the Ethereum (ETH) private key that controls it. This is reminiscent of how the old cypherpunks used to sign their emails with PGP keys. In the 1990s, an . . . → Read More: You can now send email right from your Ethereum address

Programmable money: How crypto tokens could change our entire experience of value transfer

Programmable money (PM) is in the air. It may be the next stage in the evolution of money. And it could be as disruptive as any financial technology in development today.

Yes, China is close to launching the first central bank digital currency (CBDC) at scale — perhaps within the next 12 months . . . → Read More: Programmable money: How crypto tokens could change our entire experience of value transfer

Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

Mike McGlone, Senior Commodity Strategist at Bloomberg, is convinced Bitcoin will continue to appreciate thanks to its fixed supply coupled with increasing demand. 

“I don’t see what [could] make it stop doing what [it’s] been doing for the last 10 years. And that’s going up”, he told Cointelegraph in a recent interview. 

. . . → Read More: Bitcoin will continue appreciating, although at a slower pace than in the past, Bloomberg analyst explains

First ICO mandating buyers to ‘use’ tokens is successful, collects $5M

A new way of conducting token sales spearheaded by ConsenSys Codefi achieved its first success, with the planned sale of Skale Network tokens collecting just over $5 million.

As Cointelegraph reported in February, the Skale token sale was the first to be launched on the Activate platform developed by ConsenSys. Its . . . → Read More: First ICO mandating buyers to ‘use’ tokens is successful, collects $5M

DApps can now send push notifications to Ethereum wallet users

An Indian startup has built a decentralized notification protocol dubbed Ethereum Push Notification Service (EPNS) allowing DApps to send push notifications to Ethereum wallet users.

Speaking to Cointelegraph, EPNS founder Richa Joshi said that they developed the protocol after finding a striking similarity between how applications operated in the early days of . . . → Read More: DApps can now send push notifications to Ethereum wallet users

Price analysis 9/14: BTC, ETH, XRP, BNB, DOT, LINK, BCH, CRO, LTC, BSV

Most retail traders find it difficult to go against the herd and buy when the market is down. They generally wait for the price to recover and for improvements in sentiment before jumping in. By doing this, retail traders typically miss the larger part of relief rallies and pocket a smaller profit.

. . . → Read More: Price analysis 9/14: BTC, ETH, XRP, BNB, DOT, LINK, BCH, CRO, LTC, BSV

Binance CEO wants more Ethereum-based DeFi projects to join his platform

Binance CEO Changpeng Zhao welcomed more Ethereum-based DeFi projects to join the Binance Smart Chain (BSC) platform. 

In a tweet discussion with another user, Zhao explained that this step would reduce the load on the Ethereum network, which will, in turn, lead to a reduction in Ethereum’s gas fees. 

Zhao later stressed . . . → Read More: Binance CEO wants more Ethereum-based DeFi projects to join his platform

DeFi mainstreaming impossible until DEXs integrate layer 2, experts say

The rapid growth of the decentralized finance sector (DeFi) took a shock after the recent 17.5% drop in Bitcoin (BTC) price. However, it is likely that the DeFi sector will continue to grow as Bitcoin recovers, especially as users continue to look for high-yield strategies as a means to earn interest on their . . . → Read More: DeFi mainstreaming impossible until DEXs integrate layer 2, experts say

DeFi: A shrinking window of opportunity

Over the years, we have seen a lot of trends such as initial coin offerings, initial exchange offerings, security token offerings, decentralized autonomous organizations and many more, but none of these have become the mainstream. The concept of decentralized finance undoubtedly has its merits, but as the factors that sank the predecessors remain, . . . → Read More: DeFi: A shrinking window of opportunity

A DeFi bull run might take $400 Ethereum options traders by surprise

Ether (ETH) price gained 14% from its Sept. 6 low at $320, but this month’s futures and options expiry is less than two weeks away. As its price is still pinned below $400, this raises the question of exactly how confident are derivatives traders of a 9% recovery to $400?

By analyzing options . . . → Read More: A DeFi bull run might take $400 Ethereum options traders by surprise

DeFi oracles, explained

The oracle problem and latency are the major risks of running oracles on a blockchain.

The oracle problem arises due to a trust conflict that centralized third-party systems bring to smart contracts and blockchain systems that are decentralized. Because the data provided by oracles is directly fed into smart contracts, which . . . → Read More: DeFi oracles, explained

Price analysis 9/11: BTC, ETH, XRP, LINK, BCH, DOT, BNB, LTC, CRO, BSV

The President of the European Central Bank (ECB) Christine Lagarde said that the coronavirus pandemic has acted as a catalyst in boosting the adoption of digital payments in the European Union. Lagarde expects the majority of the consumers to continue using digital services even in the future.

In order to support the . . . → Read More: Price analysis 9/11: BTC, ETH, XRP, LINK, BCH, DOT, BNB, LTC, CRO, BSV

Ethereum 2.0 is coming, unlikely to speed up enterprise DeFi adoption

Many members of the blockchain community have been anxiously awaiting the arrival of Ethereum 2.0, the major upgrade to the Ethereum blockchain set to be released in multiple phases. Phase 0 is the first expected release on the Ethereum 2.0 roadmap, scheduled to launch this year.

While speculation around the exact release date . . . → Read More: Ethereum 2.0 is coming, unlikely to speed up enterprise DeFi adoption

ERC-20 market cap differential over Ethereum hits all-time high

Ethereum’s economic metrics are strengthening as transfer value and ERC-20 market capitalization continue to build momentum.

Research by on-chain analytics platform Santiment has revealed that the market capitalization for all ERC-20 based tokens has flipped that of Ethereum itself. It added that it is currently the all-time highest market cap differential of ERC-20 . . . → Read More: ERC-20 market cap differential over Ethereum hits all-time high

US Treasury blacklisted a non-existent ETH address in connection with alleged Russian election interference

Earlier today, the U.S. Department of the Treasury updated its Specially Designated Nationals List, adding several individuals and a number of cryptocurrency addresses. One of the individuals added was Artem Mikhaylovich Lifshits — a Russian national, accused of interfering in the U.S. elections. 

In addition to disclosing his personal information, the site lists a number . . . → Read More: US Treasury blacklisted a non-existent ETH address in connection with alleged Russian election interference

Ethereum scalability issues exposed as high gas fees stall DeFi boom

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 . . . → Read More: Ethereum scalability issues exposed as high gas fees stall DeFi boom

Blockchain needs to walk before it runs to DeFi

Decentralized finance has become the fastest-growing sector of the blockchain industry. Today, there are over 200 projects working on a wide variety of decentralized financial products and services. That number continues to increase every day as new DeFi-related projects launch. 

The most telling figure of this rapid growth is the staggering amount of . . . → Read More: Blockchain needs to walk before it runs to DeFi

DeFi tokens rebound with 19% bounce in 24 hours

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 . . . → Read More: DeFi tokens rebound with 19% bounce in 24 hours

Ethereum Foundation announces $3.8M in new grants

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 . . . → Read More: Ethereum Foundation announces $3.8M in new grants

Developers propose a solution against ‘stealth mining’ to Ethereum Classic community

Earlier today, Dexaran presented its solution (based on PirlGuard’s framework) 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 . . . → Read More: Developers propose a solution against ‘stealth mining’ to Ethereum Classic community

Crypto markets ‘between a rock and a hard place,’ Peter Brandt says

Peter Brandt, long-time trader and CEO of proprietary trading firm Factor LLC, recently gave his thoughts on the current crypto market, describing the price action stuck between two difficult giants. 

“Bitcoin and Ethereum — those really, for me, is where the game is played,” Brandt told Cointelegraph in a Sept. 9 interview when . . . → Read More: Crypto markets ‘between a rock and a hard place,’ Peter Brandt says

Price analysis 9/9: BTC, ETH, XRP, LINK, BCH, DOT, BNB, BSV, LTC, CRO

The short-term gyrations in crypto and stock prices are usually based on sentiment and technicals, while the long-term trends generally follow stronger underlying fundamentals. Therefore, if the fundamentals do not weaken, smart investors view short sharp corrections as a buying opportunity.

Data suggests that large investors, oftentimes dubbed ‘whales’, have been accumulating Bitcoin . . . → Read More: Price analysis 9/9: BTC, ETH, XRP, LINK, BCH, DOT, BNB, BSV, LTC, CRO