Monthly Archives: November 2020

Actress Maisie Williams becoming the newest Bitcoiner?

“Join the free folk, long Bitcoin,” said Blockfolio to the Game of Thrones actress. English actress Maisie Williams, best known for her role as Arya Stark in the HBO series Game of Thrones, may be joining the Bitcoin bandwagon. In a Nov. 16 message on Twitter, the actress asked her 2.7 million followers if she should go “long on Bitcoin.” At the time of publication, the majority — 50.4% — are advising she invest in the crypto asset with 118,190 people responding. Williams has an estimated net […]

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3 key on-chain metrics suggest Ethereum price is in a 2017-style bull run

Numerous on-chain indicators suggest Ethereum price is on the verge of another 2017-style bull run. Ether (ETH) price is currently ranging between $440 and $470, which is similar to the price action seen in December 2017. Back then, the scenario ended up being incredibly bullish, and the altcoin quickly rocketed toward $1,400.  Fast forward to 2020, and some investors believe a similar outcome may occur as a few key on-chain and technical indicators are mirroring the levels seen in the previous bull run. On Dec. 10 Ether […]

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Cheese Bank’s multi-million dollar hack explained by security firm

Nefarious parties are using flashloans in conjunction with stablecoins to steal DeFi funds from platforms. An Ethereum-based decentralized finance, or DeFi, platform known as Cheese Bank recently suffered a $3.3 million loss — the product of an early-November hack. The thieves utilized a somewhat newly-found weakness in the DeFi sector which harnesses flashloans. The Cheese Bank thieves stole the cheddar via U.S. dollar-pegged stablecoins USD Coin (USDC), Tether (USDT) and Dai (DAI). A number of other platforms have also suffered similar fates in recent days. “In the […]

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Price analysis 11/16: BTC, ETH, XRP, LINK, BCH, LTC, BNB, DOT, ADA, BSV

Bitcoin has resumed its journey toward a new all-time high, and the renewed bullish momentum is pulling altcoin prices higher. As Bitcoin (BTC) continues to rally to a new 2020 high above $16,700, traders are pondering whether this is the start of a new bull market.  Mike McGlone, senior commodities strategist at Bloomberg Intelligence, believes that the main hurdle is at the all-time high near $20,000. Once that is crossed, Bitcoin could reach a $1 trillion market capitalization. McGlone anticipates the uptrend to continue in 2021, and […]

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Nigerian Authorities Put Mastermind of the Inksnation Crypto Scam on Wanted List

Nigeria’s Economic and Financial Crimes Commission (EFCC) is seeking the public’s help in locating Omotade Sparks Amos Sewanu, the mastermind behind the Inksnation crypto scam. According to a notice published in the local media on November 11, the EFCC wants Sewanu to respond to fraud charges relating to Inksnation’s purported crypto token- Pinkoin. The Inksnation scam, which gained popularity just before the start of lockdown restrictions, has duped many Nigerians with its promise of a lifetime income. Interested investors are asked to choose from five different investment […]

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Value DeFi protocol hacker flooded with sob stories after returning $95K Dai

“These are all my savings. I hope you can return it to me.” On Nov. 14, an unknown party exploited flash loans via the decentralized finance protocol Value DeFi to the tune of $5.4 million. A number of individuals have received a portion of their stolen funds back, however, after pleading with the hacker using input data on the Ethereum blockchain. According to data from Etherscan, the hacker sent $95,000 in Dai back to two of the victims who posted messages accessible in the Ethereum block explorer’s […]

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IBM targets sustainable fashion with latest blockchain partnership

IBM has emerged as one of the largest blockchain consulting firms in the world. Its next target: Sustainable fashion. IBM’s foray into the blockchain ecosystem is deepening with a new partnership to track supply chains in the textile and fashion industries.  The Armonk-based tech giant announced Monday that it’s teaming up with German textile manufacturer KAYA&KATO to develop a blockchain network that tracks the origin of fabrics used in the fashion industry. The new application will allow KAYA&KATO’s suppliers and customers to identify where their fabrics are […]

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Some loans on Maker are never liquidated, prompting debt auction overhaul

Small loans for $100 are uninteresting to liquidators, and they’re cheap to stack up. The Maker community is looking for solutions after an analysis by B.Protocol suggests that it is possible to exploit the liquidation system to create under-collateralized debt.  The researchers created small vaults for $128, just above Maker’s “dust” parameter that defines the minimum size for new vaults. As Maker’s oracles updated to new prices that made these vaults eligible for liquidation, B.Protocol found that the debt remained unclaimed for several hours. While the researchers […]

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The next big crypto market could be fantasy sports, says Messari

Desperate for viewership dollars, traditional sporting leagues may soon turn to fantasy sports to boost fan engagement. As “digitally native” ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.  In a newly published report, researcher Mason Nystrom argues that fantasy sports are primed for significant growth due to COVID-19. He also opined that blockchain-based applications could help boost fan engagement in this rapidly expanding market. Nystrom explained: “While the peak culmination of esports […]

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Bitcoin hits new 2020 high at $16.7K —Traders expect bigger breakout

Bitcoin price hit a new 2020 high at $16,765 and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term. There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets […]

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