Month: July 2023

Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,900

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Ethereum price is struggling to clear the $1,880 zone against the US Dollar. ETH could start a fresh decline if it stays below $1,880 and $1,900. Ethereum is facing major resistance near $1,880 and $1,900. The price is trading below $1,875 and the 100-hourly Simple Moving Average. Earlier, there was a break below a key bullish trend line with support near $1,870 on the hourly chart of ETH/USD (data feed via Kraken). The pair is now struggling to rise above the same trend line and $1,880. Ethereum Price Faces Key…

Bitcoin Price Recovers Within Range, Bears Still In Control Below $30K

Bitcoin price is recovering higher from the $29,000 support. BTC could revisit the key $29,700 resistance zone in the coming sessions. Bitcoin is slowly moving higher above the $29,200 and $29,300 levels. The price is trading above $29,300 and the 100 hourly Simple moving average. There was a break below a key bearish trend line with resistance near $29,375 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise toward the next major resistance at $29,700. Bitcoin Price Faces Many Hurdles Bitcoin price retested…

BNB Smart Chain hit with copycat Vyper attack, $73K exploited

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The BNB Smart Chain (BSC) has reportedly suffered copycat attacks due to a vulnerability in the Vyper programming language, following a similar vein to the exploit on the decentralized finance (DeFi) protocol Curve Finance. Amid the exploits carried out on Ethereum, Blockchain security firm BlockSec tweeted on July 30 that around $73,000 worth of cryptocurrencies on BSC across three exploits had also been stolen. It comes as similar exploits targeting liquidity pools on Curve Finance have racked up losses exceeding $41 million according to current BlockSec estimates. The sheet updated. Losses…

Crypto industry shares its top moments

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The crypto community has come together to celebrate the 8th birthday of the Ethereum network, marking eight years since when the Ethereum Foundation first sent the network live. On July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. “The vision of a censorship-proof ‘world computer’ that anyone can program, paying exclusively for what they use and nothing more, is now a reality,” he wrote.  Screenshot of blog post from Stephan Tual. Source: Ethereum Foundation Eight years later,…

Bitcoin BTC Price Climbs Back to $29.4K; Crypto’s Decoupling From Stocks May Not Be Over

Curve, a stablecoin exchange at the heart of decentralized finance (DeFi) on Ethereum, has been the victim of an exploit, according to a tweet from the project. Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services — have been drained by hackers so far. Other projects that use the Vyper programming language…

Ethereum is about to get crushed by liquid staking tokens

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Before we know it, liquid staking tokens (LSTs) are going to replace Ethereum’s native cryptocurrency, Ether (ETH). The LST market is already worth approximately $17 billion, and it has grown continuously since Ethereum’s Merge. While LSTs are just beginning to hit their stride, their advantages over traditional ETH will soon become clear to liquidity providers (LPs), toppling ETH from its throne and ushering in a new era of LST domination. Since the Merge, ETH can now be staked to produce a roughly 4% annual yield, depending on factors of network…

Bitcoin BTC Price Dips Below $29.2K After Curve Exploit but Continues Its Range-Bound Ways; ETH, SOL, MATIC Sink

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ETH was recently changing hands at $1,857, off 1.2% from Sunday.  Ether has been narrowly range-bound over the past seven days between $1,840 and $1,890. SOL and MATIC, the token of the smart contracts Solana and Polygon platforms, were recently off 4.5% and 4.2%, respectively, over the past 24 hours. Popular memecoin DOGE off 3.7%, respectively. The broader CoinDesk Market Index (CMI) recently moved 0.9% lower for the day. Original

Vyper vulnerability exposes DeFi ecosystem to stress tests

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Decentralized finance (DeFi) protocols are undergoing a stress test following a critical vulnerability was found on versions of Vyper programming language, resulting in the theft of millions of dollars’ worth of cryptocurrencies on July 30. A number of pools using Vyper 0.2.15, 0.2.16 and 0.3.0 have been exploited due to a malfunctioning reentrancy lock, targeting at least four liquidity pools on Curve Finance protocol. “The short answer is that everything that could be drained was drained. The targeted pools are aETH/ETH, msETH/ETH, pETH/ETH and CRV/ETH. All remaining pools are safe…

Litecoin halving approaching, Cardano building as Borroe presale progresses

Next week, the crypto industry will closely follow the Litecoin (LTC) halving, which takes place every four years. Experts are monitoring the potential outcomes with interest.  At the same time, investors are exploring Borroe and its prospects for 2023 as Cardano (ADA) continues to grow and develop. >>Buy ROE tokens now<< Litecoin halving approaching The Litecoin halving is scheduled for on or around August 2, 2023. It could impact LTC prices and the broader crypto ecosystem. After halving, miner block rewards will drop from 12.5 to 6.25 LTC. Historically, prices…