Analysts predict that the imminent launch of yETH by Yearn Finance could trigger a renewed surge in buying pressure on the ETH markets. The product, which is being voted on by YFI token holders, will automatically find the highest yielding decentralized finance (DeFi) protocol/strategy for Ether (ETH) deposits. Yearn Finance’s core products are ‘vaults’ that seek the best returns for yield farmers, while also pooling funds to reduce gas fees. With Yearn’s vault purporting to guarantee the highest returns while removing the labor and research needed to maximize the profitability…
Day: September 1, 2020
Malaysian authorities arrest crypto miners for $600K power theft
Officials in the Malaysian state of Johor shut down two crypto operations which had stolen more than $600,000 worth of electricity over three years. According to a Sept. 1 report from local news site The Star, Malaysia’s Energy Commission, power utility firm Tenaga Nasional Berhad (TNB), and local officials arrested individuals responsible for the theft of more than $600,000 in electricity used for crypto mining. The authorities raided two mining operations in the city of Iskandar Puteri. Nazlin Alim Sadikhi, a regional director with the country’s Energy Commission, said one…
Ethereum Founder Vitalik Is Steering Clear of Yearn.finance Until It “Settles Down”
Decentralized finance (DeFi) has taken Ethereum by storm over recent months. This sector of the crypto and ETH economy has grown exponentially, both in terms of capital/dollar value and in terms of active users. While this segment of Ethereum has undoubtedly bolstered the project, founder Vitalik Buterin is steering clear for the time being. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Ethereum Founder Vitalik Is Not Big on Yield Farming Just Yet Vitalik Buterin, the founder of Ethereum, commented on August 31st that he wants…
Yearn.finance Enters Price Discovery Following Binance Futures Listing
Yearn.finance (YFI) has been making headlines throughout the past few weeks, with the DeFi protocol going from being relatively unknown just a couple of months ago to now having the fourth-highest total value locked (TVL) in the entire ecosystem. This growth has had major implications for the YFI governance token’s price, which has been rocketing higher in recent weeks. The token just set fresh all-time highs earlier today, with it currently being worth well-over 3 BTC per YFI. Analysts are now noting that the crypto may soon enter price discovery,…
Tesla Foils Ransomware Attack After Employee Rejects Bitcoin Bribe Worth $1 Million
Tesla’s Elon Musk has said the company recently foiled attempts to infect its computer network with malicious software, after an employee cooperated with the FBI in an investigation. The malicious software would create an opportunity for criminals to extort money from Tesla. Musk’s revelation comes after the United States Department of Justice (DoJ) had brought charges against a Russian national, Egor Igorevich Kriuchkov, 27. Although the U.S. government is not naming the targeted corporation in the sealed court documents, Musk in a tweet, confirms that Tesla was the intended victim…
Ethereum Wrapped Bitcoin Supply Doubles In August Alone, But Why?
The decentralized finance movement has helped drive up the value of Ethereum and other ERC-20 based projects compared to Bitcoin and other assets. It has prompted even Bitcoin holders to “wrap” their BTC in Ethereum. The amount of BTC supply wrapped in Ethereum has doubled in August alone, but why exactly is this happening, and what does it mean for Bitcoin? Explosive DeFi Trend Teaches Old Dogs New Tricks As Crypto Adapts The buzz surrounding DeFi has breathed new life into the crypto market, but no assets more than Ethereum…
Major Swiss health insurance company now accepts crypto payments
A major health insurance provider in Switzerland has made Bitcoin and Ether payments available to its policyholders. According to an Aug. 31 announcement, Atupri Health Insurance is partnering with crypto financial services company Bitcoin Suisse for its 200,000 customers to make payments using Bitcoin (BTC) or Ethereum (ETH). Atupri, based in Bern, will not be holding any digital assets itself, but rather just receiving fiat payments in Swiss francs once the BTC or ETH is exchanged by Bitcoin Suisse. The insurance company — with roughly $887 million in annual sales…
Bitcoin’s Monthly Close Just Took Place: Here’s What Comes Next
A minute ago, Bitcoin’s monthly candle close for the month of August took place. The cryptocurrency did what many thought would be difficult; it closed the month of August above $11,500, a pivotal resistance level. This means that Bitcoin just printed its second-highest monthly close ever. Due to the importance of the monthly chart to BTC’s macro trend, analysts say that the cryptocurrency is prepared to see further upside from here. Related Reading: These 3 Trends Suggest Bitcoin Is Poised to Bounce After $1,000 Drop Why Bitcoin Will Surve Even Higher…
Ethereum DeFi’s Sushi Rips 100% Higher After FTX Listing
Ethereum is undergoing its latest craze: SushiSwap, whose native governance token is Sushi (SUSHI). The coin took a strong drop after it was launched this past weekend, but has since bounced back. Since bottoming around $0.70 just two days ago, the asset has exploded higher by 1,000%. The coin now trades for $6.60 and is up 120% in the past 24 hours alone. A good portion of this move higher comes after the coin was listed on FTX, a leading centralized exchange known for listing DeFi coins earlier, then sparking…
The Biggest Issues for Marvel’s Avengers Won’t Be Microtransactions
The Avengers release date is imminent, and the content poses some cause for concern. Microtransactions, however, are not something to worry about. If anything, Avengers has one of the fairest microtransaction policies we’ve seen. Crystal Dynamics’ Marvel’s Avengers title releases later this week – or tonight for those who’ve pre-ordered the deluxe edition – and reception has been all across the board. Some think the title is soulless, while others are excited about a cooperative superhero romp. But content aside, many are worried about the game’s microtransactions. The Avengers Tackle Microtransactions…