Month: August 2023

Fantom’s DEX, SpiritSwap, folding after Multichain hack

SpiritSwap, a decentralized exchange (DEX) on Fantom, will cease operations from Sep.1, roughly 828 days after launching. The announcement follows the Multichain hack which depleted SpiritSwap’s treasury, making it impossible for the DEX to fund essential operations like costs, salaries, and marketing. End of an era as @Spirit_Swap calls it quits; the very first place I landed on #Fantom 828 days ago 😢👻 They’re looking for a team to hand things to; otherwise operations will cease on September 1; a guide to help users withdraw $SPIRIT dregs as they unlock…

Bulls Have To Keep Shielding Against Price Dip To Key Level

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The Solana price exhibited a bullish trend during the recent trading session, pushing it beyond the $24 mark. It surpassed a key resistance hindering its progress for over a week. Within the last 24 hours, SOL saw a rise of around 6%, with a similar price increase visible on the weekly chart. From a technical standpoint, Solana’s outlook appears optimistic following the recent price shift. Both demand and accumulation have expanded on the daily chart, reflecting positive sentiment. Despite bullishness, the speed of SOL’s recovery depends on its ability to…

Bitcoin miner Riot Platforms trims Q2 loss to $27.7M

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Colorado-based Bitcoin mining firm Riot Platforms narrowed its second quarter net loss to $27.7 million as it ramped up its Bitcoin production and reached record hash rate capacity. The crypto miner posted total revenue of $76.7 million — up 5.2% from Q2 2022 — which was primarily driven by a 27% year-on-year increase in Bitcoin (BTC) production, offset by a decline in Bitcoin prices, according to the firm’s Aug. 9 results filing. The firm’s mining revenue of $49.7 million attributed to 64.7% of the firm’s total revenue over the quarter.…

TON Surges As Crypto Market Rebounds, Can It Test $2 Level?

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The TON price currently hovers at $1.28, representing a 4.54% price increase in the last 24 hours. Its price gain in the last 7 days stands at 7.58%. Toncoin is likely benefiting from the positive outlook of the global crypto market, standing at $1.18 trillion, representing a 1.42% gain in the last 24 hours. But how far can the rally go?  What Could Be Driving TON’s Price Gains? According to a Ton Developer Report, the ecosystem recorded a massive increase in developer involvement of up to 102% in 2023. This…

SEC to seek interlocutory appeal in Ripple case

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The United States Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal to Judge Analisa Torres’ July 13th summary judgment in its ongoing legal battle against Ripple Labs. In an Aug. 9 letter to Judge Torres, the SEC explained it believed her decision warrants a fresh look by an appellate court. “Interlocutory review is warranted here. These two issues involve controlling questions of law on which there is substantial ground for differences of opinion as reflected by an intra-district split that has already developed,” the…

Coinbase Launches Own Blockchain as Sleuths Scour PayPal’s Stablecoin Software

Decentralized finance or DeFi ecosystems are still suffering through crypto winter, according to the analysis firm Messari. As a whole, the industry’s total value locked, or TVL – a key metric that represents collateral and deposits put into blockchain protocols – has been declining. On Ethereum, by far the biggest DeFi ecosystem, TVL dropped by 13% drop to $23 billion over the past 30 days. Optimism and Solana eked out gains. Source

Could It Make A 26% Climb?

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The recent drop in the price of Cardano (ADA) has raised concerns among investors as it breached the combined support of $0.3 and a crucial support trendline. However, a closer analysis of the daily chart reveals a twist that might offer a glimmer of hope for the cryptocurrency’s recovery. Technical analysis of Cardano’s price movement suggests that the apparent breakdown from the rising support trendline might be a fake one. A fake breakdown, also known as a false breakdown or a bear trap, occurs when a price temporarily drops below…

Bitcoin Miner Riot Posts Mixed Q2 Earnings Report, Sees Growing Consolidation in Industry in 2023

“Riot’s core business is Bitcoin mining, and the scale of our vertically integrated operations and financial strength allowed us to execute on our power strategy at unmatched scale this quarter, driving our average cost to mine to $8,389 per Bitcoin in the second quarter, compared to an average Bitcoin price of $28,024,” said Jason Les, CEO of Riot, in a statement. Original Source BitcoinConsolidationEarningsGrowingindustryMinermixedPostsReportRiotSees CryptoX Portal

Fireblocks Discloses ‘Zero Day’ Vulnerabilities Impacting Leading MPC Wallets

While Fireblocks says that attacks exploiting the vulnerabilities would have been “practical,” the firm believes their complexity made them difficult to discover in advance of Wednesday’s disclosure. “The chances that someone – some malicious actor from, let’s say, North Korea figured it out months before we figured it out and disclosed it to wallet providers – I would say that the likelihood of that is very, very, very low,” Fireblocks CEO Michael Shaulov told CoinDesk. Source