Day: September 25, 2023

Huawei Remains Silent of Its Secretive 5G Phone at Product Launch

Chinese tech giant Huawei refrained from unveiling its new 5G smartphone during its recent autumn season launch event. Instead, the company focused on electric vehicles, revealing its first sedan and luxury SUV. On Monday, September 25, Chinese telecommunications and tech giant Huawei remained tight-lipped about its new 5G phone featuring an advanced breakthrough. Rather than unveiling a smartphone, the company provided a glimpse of its upcoming electric vehicles, introducing its inaugural sedan and a luxury SUV. In addition, Huawei has entered into a partnership with an automaker to market vehicles…

Huobi Global hacked for $7.9M: Report

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Huobi Global’s HTX crypto exchange was hacked on Sept. 24, according to a report from blockchain analytics platform Cyvers. A total of $7.9 million of crypto has been drained in the attack. A known Huobi hot wallet posted a message to the attacker in Chinese. According to the message, the exchange knows the identity of the attacker and has offered to let them keep 5% of the drained funds as a “white-hat bonus,” but only if the attacker returns the remaining 95%. Red CodeYesterday, our ML-powered system detected a suspicious…

MicroStrategy adds $147m worth of Bitcoin to balance sheet

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Michael Saylor, founder of MicroStrategy, announced that his company added 5,445 Bitcoin to its massive crypto holdings between Aug. 1 and Sept. 24. MicroStrategy spent $147.3 million on its latest BTC acquisition, according to a form 8-K filing with the U.S. Securities and Exchange Commission (SEC).  Following its BTC accumulation between August and September 2023, MicroStrategy now boasts $4.6 billion worth of crypto’s top token on its balance sheet.  MicroStrategy began purchasing BTC in 2020 as former chief executive officer Michael Saylor sought to reduce the company’s cash holdings and…

We Need to Reclaim the Narrative on Staking

PoS blockchains, like Ethereum, enable all token-holders, not just those with industrial-scale computer systems, to benefit from securing and in many cases governing the network. The more token owners stake, the more secure, neutral, and sustainable these networks are. Today, almost every major blockchain relies on staking in order to function. PoS blockchains have grown to include 19 of the top 20 smart contract platforms with millions of users globally, representing a market cap of nearly $100 billion as of this month. Source

Indian Crypto Investment Platform Mudrex Expands to Italy

Mudrex has only one million registered users but is one of India’s largest crypto platforms that offer index investing options through sets of coins called Coin Sets as an alternative to speculative trading. This includes small, mid and large cap, BTC and ETH in the broad-based category. The thematic indexes include layer one, layer two, NFT, Metaverse projects and Dow trackers. Source

Prices for Cobalt Used in Electric Vehicle Batteries Crash Following Oversupply from Miners

Prices of cobalt are may remain low for a while as demand from EV and consumer electronics makers are likely to remain lower than supplies. Cobalt hydroxide prices have dropped in response to an increase in supplies from the Democratic Republic of Congo. Cobalt, used commonly to make batteries for electric vehicles (EVs), is produced in Congo as a byproduct of copper. The prices of cobalt hydroxide are calculated as a percentage of the benchmark metal price agreed between sellers and buyers, known as payables. According to Benchmark Mineral Intelligence…

Ethereum Staking Will Decentralize DeFi

Enter crypto staking yields, or more specifically, “post-Shapella” staking yields. Since the Shapella upgrade of the Ethereum network, users can stake and unstake their ether (ETH) at will, significantly de-risking staked ETH from a liquidity standpoint. This has been reflected in the staked ether, or stETH, discount to ETH, barely dipping past 30 bps since Ethereum’s last major upgrade. Before the Shapella upgrade, stETH was a poor collateral asset due to its illiquidity and discount volatility. Now that stETH has been derisked, we have seen it overtake ETH as the…

Moonbeam (GLMR) token up 50% following listing on Upbit

GLMR, the native crypto of the Moonbeam protocol, surged over 50% after news broke of its upcoming listing on the South Korean crypto exchange, Upbit. Moonbeam’s native token, GLMR, is experiencing a significant surge, rising by over 50% in the last 24 hours. The surge comes on the heels of a Sep. 25 announcement by Upbit, a South Korean exchange, that will list GLMR on its exchange, with a GLMR/BTC trading pair set to go live later today. The GLMR listing has sent a wave of excitement through the market,…

Chainlink Spikes 10% On Weekly Chart As Market Sees Correction

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The crypto market cap has declined over 1% in the last 24 hours, transmitting losses across the market. Top coins like Bitcoin and Ethereum have taken the hit, losing 3% and 4% of their past week’s gains, respectively.  However, Chainlink (LINK) resisted the prevailing bearish market forces amid this onslaught, holding 6.51% gains on the weekly chart. Also, the token has recorded a 1.68% price increase in the last 24 hours.  Amid the upturn, LINK has broken past the $7 price mark; could it ride the prevailing bullish waves to…