Meanwhile, the Relative Strength Index (RSI), a price-chart indicator, for bitcoin slid to favorable levels in European hours on Tuesday after reaching overbought conditions last Friday. The tool calculates market momentum for assets, and an overbought level implies prices are overvalued and may be primed for a trend reversal or corrective price pullback. Original
With the sophistication that blockchain systems are showcasing today, one would think it will translate into better security, however, this is not the case, as distributed ledger technologies have suffered many security breaches throughout this year. According to Snowmist, the blockchain industry has been well characterized by cryptocurrency crimes, money laundering, fraud, cases of theft, drug trafficking, and mining crimes all of which occur frequently. The data presented showed that as many as 231 security breaches have been recorded thus far this year all amounting to over $9.8 billion in…
Hackers recently took control of a group of HP-branded servers and used them to remotely mine a cryptocurrency called raptoreum, according to reports. This resulted in the compromised cluster of HP machines becoming the biggest contributor to the total mining pool of the cryptocurrency, allowing attackers to rake in $110,000 worth. The coins are said to have been mined between December 9 and December 17. HP Servers Suffer Cryptojacking Attack A group of HP servers operating for an undisclosed company was attacked by hackers that managed to take…
The Polygon team offered an explanation and here it is. A few weeks ago, the Ethereum Layer 2 network hard-forked their blockchain, seemingly without explanation. As usual, NewsBTC got to the bottom of the case and presented all of the available information. The only piece missing was a promised official report with a detailed explanation from Polygon’s experts. Is this it? Apparently so. Related Reading | Community Voted, Why Uniswap Will Be Deployed On Polygon Before we get into it, let’s remember Polygon’s co-founder Mihailo Bjelic’s explanation as reported by…
B2BX, which is a part of the B2Broker Group, has further expanded its crypto exchange offerings with the addition of 61 new crypto trading pairs and also enhanced some of the features. The newly added cryptocurrencies include popular tokens like AAVE, MATIC, SUSHI, and YFI. They are listed against both fiat and USDT stablecoin Stablecoin Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some…
Crypto exchange Huobi’s research arm, Huobi Research, has identified a rising interest in blockchain gaming as a direct impact from GameFi initiatives. GameFi implies the use of decentralized finance (DeFi) and blockchain gaming that incentivizes users based on a play-to-earn model. According to Huobi Research, on-chain data suggests that GameFi initiatives have seen a steep increase since June 2021, owing to a sizable reduction in transaction costs and improved user experience. Ways that GameFi reduces transaction fees. Source: Huobi Research The research shows that popular blockchain games such as CryptoKitties…
Italian luxury sports car manufacturer Ferrari is moving into the blockchain industry by inking a partnership with Swiss blockchain startup Velas Network. Ferrari officially announced Monday that it had signed a multi-year agreement with Velas to jointly issue “exclusive digital content” for the Scuderia’s fans. Velas will also be the main sponsor for Ferrari Esports Series, the online series competing in the F1 Esports Series, the official digital championship including all teams participating in the FIA Formula 1 World Championship. The announcement describes Velas as a major company in the industry…
A catalyst for DOT’s upward price movement last week was the start of the second batch of parachain auctions on the Polkadot network. Parachains are distinct blockchains that run atop the main Polkadot network. Polkadot, however, has a limited number of openings available. To gain access, a parachain has to win a community-run auction that uses DOT to vote for slots, leading to increased demand for the cryptocurrency. Original
Ethereum is having difficulty keeping its richest investors in line as its native token, Ether (ETH), hints at logging more losses in the near term. Blockchain data analytics service Glassnode revealed that the number of Ethereum addresses holding at least 1,000 ETH dropped to 6,292 this Monday, the lowest reading since April 2017. At its year-to-date peak, the numbers were 7,239 in January. Number of Ethereum addresses with balance of at least 1,000 ETH. Source: Glassnode On-chain analysts typically observe ETH distributions among addresses to realize retail and institutional sentiments.…
Bitcoin prices rose above $52,000 on Monday before tumbling as much as $3,000 early Tuesday, causing over $94 million in liquidations. Such figures were last seen earlier this month after bitcoin fell as low as $41,000 from highs around $69,000 in November. Losses due to liquidations exceeded $435 million at the time. Source