Automated market maker protocol Balancer lost over $450,000 in a hacking incident on Sunday.The firm’s co-founder and CTO, Mike McDonald, confirmed that hackers drained at least two of their pools that contained deflationary tokens STA and STONK.He admitted that hackers exploited security vulnerabilities in those tokens to trick their pools into selling them Ether, WBTC,…
Ethereum’s budding decentralized finance ecosystem has gone parabolic over recent weeks.The value of cryptocurrencies locked in DeFi applications has skyrocketed to $1.65 billion, 65% higher than this metric was just 12 days ago. Simultaneously, the number of users leveraging applications like Compound, Maker, and Synthetix has skyrocketed.Unfortunately, a purported hack just took place that may…
Ethereum’s weakness as of late has primarily been rooted in that seen by Bitcoin.From a fundamental perspective, the cryptocurrency is arguably at one of its strongest points ever, with daily transactions recently breaking 1 million while its userbase sees massive growth.This strength has not translated into positive price action yet, as all of the profits…
Ethereum is declining and trading below the $225 support against the US Dollar. ETH price remains at a risk of more losses and it might revisit the $200 support.ETH price is showing bearish signs and trading below the $225 support area against the US Dollar.It tested the $215 support and settled well below the 100…
Another week, another round of Crypto Tidbits.At one point this week, analysts thought Bitcoin was about to be thrust into a full-blown bull market. The cryptocurrency saw a strong rally at the start of the week that took ti as high as $9,800 on major exchanges. But in normal BTC fashion, the rally was shut down…
There’s no doubt Ethereum decentralized finance (DeFi) has been a hot trend over recent weeks. Nothing shows this as well as the value of cryptocurrencies locked inWith DeFi gaining steam, there have been new voices chiming in. One such voice commenting on DeFi is Ross Ulbricht, one of the earliest known Bitcoin adopters and the…
Volume on Ethereum blockchain is rising faster than Bitcoin for the last three months, according to data fetched by Santiment.The second-largest cryptocurrency is leading a pack of top 100 altcoins with better on-chain metrics than that of Bitcoin.Observers note that a swift rise in altcoin volumes forms a local price top.Ethereum, the world’s second-largest cryptocurrency…
Ethereum is currently correcting losses from the $228 low against the US Dollar. ETH must climb above the $235 resistance to start a fresh increase in the near term.Ethereum is facing a couple of important hurdles near $235 and the 100 hourly simple moving average.The current price action suggests high chances of more losses below…
Bitcoin, Ethereum, and most other cryptocurrencies have largely stalled over the past few weeks. That’s in terms of price.But data shows that the two leading blockchains are seeing rapid growth in usage. This comes in spite of fears that a second leg to the 2020 bear market/trend is on the horizon.Related Reading: Buying Bitcoin at $8k…
Ethereum is trading in a positive zone above $240 and $242 against the US Dollar. ETH is likely to climb above the $250 resistance, which might start a strong uptrend.Ethereum is rising and it remained well bid above the $240 support level.The price is now approaching the main $250 resistance and trading above the 100…