Day: November 23, 2022

Aave proposes governance changes after failed $60M short attack

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On Nov. 23, one day after Mango Markets exploiter Avraham Eisenberg attempted to use a series of sophisticated short sales to exploit decentralized finance protocol Aave, project contributors have put forth a series of proposals to deal with the aftermath. As told by protocol engineering developer Llama and financial modeling platform Gauntlet  both of whom are deployed on Aave:  “Over this past week, the user 0x57e04786e231af3343562c062e0d058f25dace9e [wallet associated with Eisenberg] opened a short position on CRV [Curve] using USDC as collateral. At its peak, the user was shorting ~92M units…

Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’ – Bitcoin News

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On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed that a POR audit “requires cryptographic proof of client balances and wallet control.” Jesse Powell Stresses a ‘Proof of Reserves Audit Requires Cryptographic Proof of Client Balances and Wallet Control’ Kraken’s Jesse Powell has had a lot to say about the recent FTX collapse, as the exchange executive recently said the…

Bitcoin On-Chain Risk

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io 0:00 – Bitcoin On-Chain Risk 1:14 – Table of Contents 1:46 – MVRV-Z Score 3:21 – Puell Multiple 4:36 – MVRV 5:05 – mCTC 5:56 – Transaction Fees 6:25 – MCTC 6:58 – Terminal Price 7:22 – Normalize Between Zero & One 8:20 – Total On-Chain Risk 11:59 – Major Bottoms 14:31 – ITC Premium 15:16 – Summary 15:59 – RHODL Ratio & Supply in P/L 17:15 – Closing Thoughts #Bitcoin provides us the luxury of on-chain analysis. Given this luxury, let…

Industry confident in NFTs amid FTX collapse: Nifty Newsletter, Nov. 16–22

In this week’s newsletter, read about how a nonfungible token (NFT) protocol was affected by the FTX collapse leading to layoffs. Despite the effects of the FTX collapse, industry players within the NFT space are still confident in the recovery of NFTs. Meanwhile, Disney brought back metaverse-backer Bob Iger as its CEO, and check out how NFTs have taken center stage at Formula 1. And, don’t forget this week’s Nifty News featuring China-based tech companies offering FIFA World Cup fans a metaverse-like viewing experience of the soccer event.  Nickel Digital,…

Aave Price Back To $57, But Threat Of New Attack Looms Over It

The Ethereum-based decentralized finance (DeFi) protocol Aave suffered an attack led by Avraham Eisenberg. The controversial individual was behind a sophisticated run against Mango Markets. The run has been called an attack by some and a clever strategy by others.  Aave (AAVE) trades at $57 with a 7% and 36% loss in the last 24 hours and the previous week, respectively. Curve Finance’s native token CRV was also part of the attack. This token has seen significant selling pressure in the short term but has been trending to the upside…

Solana (SOL) Prints 20% Gains In The Last 24 Hours

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The general cryptocurrency slump left all assets clinging to the support levels to stay afloat. Solana (SOL) was one of the most affected by this movement, deviating from its all-time high of $260.06 to currently trading at $13.75. The total circulating supply of SOL stands at $362,782,994. Also, the 24-hour low is $11.l7, while the high is $13.78.  The current price reflects an increase in Solana’s price, currently ranked at number 14 on CoinMarketCap with a trading volume of $739,091,583, which is a 38.59% gain in 24 hours. Although Solana…