DeFi & Ethereum News

2023-04-07 05:08:02 Ether Circles Above $1.9K as Shanghai Hard Fork Nears

Ether (ETH), the native token of the Ethereum blockchain, circled above $1,900 for much of Wednesday, a week before the Shanghai hard fork. The second-largest cryptocurrency by market capitalization was recently trading at $1,913, up about 2.2%. Earlier in the day ETH surged to $1,941, its highest level since last August. The Shanghai upgrade, also called Shapella, will mark the completion.

Tamplin said ETH is likely to meet its resistance initially near $2,000, “a psychological threshold that roughly aligns with the August 2022 high.” Its initial support is near $1,670, he added. Bitcoin (BTC), the largest cryptocurrency by market value, was about flat from Tuesday, same time, to trade at around $28,280. BTC has been range-bound between $27,000 and $28,500 for much of the past three weeks, ETH continued to turn deflationary, with its annualized inflation rate currently sitting at -0.32%, according to data from ultrasound.money. This means the amount of ETH being burned is more than what is being minted.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-06 05:33:02 PancakeSwap AMM V3 TVL Has Reached $125 Million Since The Uniswap Code Was Open Shared

PancakeSwap AMM V3 has attracted $125 million in Total Value Locked. Developers forked the decentralized trading network Uniswap after its business source code license (BSL) ended on April 1. Because the license is only good for two years, the Uniswap paper states that its code will be open-sourced on April 1 this year, as has been scheduled since the upgrade to the V3 edition in 2021. The latest TVL of PancakeSwap AMM V3 has hit 125 million US dollars.

According to Coincu, PancakeSwap debuted Version 3 on the Ethereum and BNB Chain networks on April 3, with performance improvements and lower fees. Improved capital efficiency is a key feature of the upgrade, which includes a shift in how liquidity providers may spend money at specific price intervals. PancakeSwap V3 also contains capital productivity improvements to the platform. According to the makers, they include allowing liquidity suppliers to concentrate their money on smaller price categories, resulting in higher fee earnings from the same amount of donations.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-05 05:21:02 Ether Rallies to 8-Month High, Gains Ground Against Bitcoin

Ether (ETH), the native token of Ethereum's blockchain, rose to an eight month high on Tuesday, outshining market leader bitcoin (BTC), as U.S. stock futures traded higher while the dollar index dipped. Ether rose nearly 3% to $1,873, the highest since August, according CoinDesk data. Bitcoin rose 1.7% to $28,300. The ether-bitcoin ratio rose over 1% to 0.066.

Futures tied to Wall Street's tech-heavy index Nasdaq rose 0.35% to a fresh eight-month high, offering bullish cues to risk assets, including cryptocurrencies. Nasdaq futures have rallied over 20% this year, entering a bull market. Ether's outperformance comes as the highly anticipated Shanghai upgrade is now less than two weeks away. The Shanghai upgrade will open withdrawals of ether staked in the Beacon chain since December 2020 and has been widely hailed as a long-term bullish catalyst for ether and liquid staking tokens.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-04 05:27:02 Ethereum MEV bots lose over $25 million in sophisticated attack

A sophisticated exploit led to a loss of over $25 million for a group of blockchain bots working to generate revenue through a process called maximal extractable value (MEV). MEV bots operate like blockchain-based high frequency traders. They focus on using speed and the technicalities of how blockchains work to capture arbitrage opportunities. But to do so, they often have to put large amounts of money at risk.

Joseph Plaza, decentralized finance trader at Wintermute, explained that the exploiter likely set "bait" transactions to lure the MEV bots. The attacker then replaced the initial baiting transactions with new, malicious ones, allowing them to steal the funds. To prepare for the attack, the perpetrator deposited 32 ETH to become a validator 18 days before the incident. Smart contract developer "3155.eth" initially revealed the incident on Twitter, and PeckShield subsequently traced the stolen assets to three Ethereum addresses, consolidated from eight other addresses.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-03 05:06:02 Justin Sun’s Ambassadorial Role at the World Trade Organisation Ends

Sun announced the end of his role as Grenada’s ambassador to the World Trade Organization, a position he was appointed to in 2021.Tron Founder Justin Sun’s tenure as Grenada’s Ambassador to the World Trade Organization (WTO, came to an end on March 31. The end of Sun’s diplomatic status comes shortly after the SEC accused the Tron boss of fraud and market manipulation.

Justin Sun, in a tweet thread, announced the end of his term as Grenada’s representative to the WTO, which took effect on Friday, March 31, 2023. Sun stated he gained valuable experience during his time as ambassador, adding that he was able to gain insights and perspectives on various trade issues through his interactions with representatives around the world. With his diplomatic status already coming to an end, the Tron founder said he is preparing to hand over to his successor, with plans to focus on crypto regulation and the digital economy.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-02 05:17:02 XRP Has Risen More Than 20% As Investors Expect Ripple To Defeat The SEC In Court

Analysts believe XRP’s increase is due to conjecture regarding the SEC’s protracted regulation fight. While other currencies are falling in value, XRP is rising. According to Coin MarketCap, the coin has gained approximately 21.6% in the last 7 days and is currently trading for $0.54. Experts believe that investor trust in the company’s ability to win a trial with the US Securities and Exchange Commission has added to its impressive development.

The SEC, which is cracking down on the crypto industry like never before, claims that Ripple Labs and its two co-founders defrauded investors by collecting $1.3 billion in unregistered stocks since 2013. According to Gary DeWaal, associate attorney at New York law company Katten Muchin Rosenman LLP, XRP’s rally is “based on hope.” Ripple Labs paid the Department of Justice $700,000 to resolve a criminal probe in 2015. Ripple Labs has formally acknowledged that XRP is a virtual money as part of this agreement. (not a security.) He stated that investors are simply speculating that if Ripple Labs prevails, it will be the end of the crypto business.

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https://t.me/DeFi_Ethereum Open / Comment

2023-04-01 05:06:02 Terra’s Daniel Shin Interrogated in Court About the LUNA/UST Crash

Do Kwon’s associate- Daniel Shin – reportedly visited a South Korean court to answer key questions related to the Terra failure. One of Terraform Labs’ co-founders – Shin Hyun-seong (better known as Daniel Shin) – reportedly appeared in a South Korean court to be interrogated regarding his potential role in the collapse of the project’s native token – LUNA – and its algorithmic stablecoin – UST – last spring.

According to the report, Shin arrived at the Seoul Southern District Court on March 30 to give important information that could shed more light on Terra’s downfall. However, he remained silent when reporters asked him the following questions: “Do you admit to the allegations of solicitation for adopting a Tmon payment method?” and “Is it true that you issued it despite knowing the possibility of Terra and Luna collapsing?”. The Korean authorities previously accused him of conducting numerous offenses, including violation of the Capital Markets Act, the Electronic Financial Transactions Act, the Act on the Aggravated Punishment of Specific Economic Crimes, and more.

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https://t.me/DeFi_Ethereum Open / Comment

2023-03-31 08:35:05 Fetch.ai announces fresh funding at a $250 million valuation

Fetch.ai, a blockchain platform that uses artificial intelligence to help people automate tasks, said it has raised $40 million in new funding from DWF Labs. Almost half of that amount has already been invested by DWF, Fetch.ai founder and CEO Humayun Sheikh told The Block in an interview. The rest will be invested in the next month, Sheikh said, adding that initial talks with DWF began in late January.

The funding is a mix of equity and Fetch.ai (FET) tokens at a combined valuation of around $250 million, Sheikh said. He declined to comment on DWF's vesting period for the token part of the investment but said the web3 investment firm, which is also a market maker, is not and will not be a market maker for FET as part of the deal. Given the rise of AI tools, such as OpenAI's chatbot ChatGPT, Sheikh expects a brighter future for the Fetch.ai ecosystem. Current AI tools don't help perform routine tasks, Sheikh said, adding that Fetch.ai will be a "game changer.". UK-based Fetch.ai is looking to grow its ecosystem, especially in Asia.

Source

https://t.me/DeFi_Ethereum Open / Comment

2023-03-30 04:58:02 Binance gave the ‘middle finger’ to the US, experts tell us what they think will happen next

Binance was just accused of undermining its own compliance program and operating illegally in the U.S. in a stunning, and stunningly detailed, 74-page lawsuit. The Commodity Futures Trading Commission sued Binance on Monday, but experts pointing to the meticulously documented filing say it may not be the only federal agency to take the crypto behemoth.

The CFTC lawsuit, which says Binance purposely evaded compliance controls to maximize profits and has facilitated illegal activities, could prompt the Justice Department to file criminal charges. The complaint included headline-grabbing internal messages from Binance that mention the U.S.-designated terrorist organization Hamas, among other possible illicit activities on the platform. nternal messages in the CFTC complaint show that Binance executives discussed transactions by Hamas on the exchange in 2019.

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https://t.me/DeFi_Ethereum Open / Comment

2023-03-29 05:09:02 Mike Novogratz calls 2022 a 'formative year' as Galaxy Digital reports $1 billion loss

Canadian-listed crypto investment firm Galaxy Digital missed analyst expectations with the release of its fourth-quarter results. The company, which trades in Toronto under the ticker GLXY, reported a net loss of $1 billion for 2022 compared with $1.7 billion in profit achieved in the prior year. It also reported a $288 million loss for the fourth quarter. The company attributed the loss to unrealized marks to market on its investments portfolio.

The firm's 2022 financial results are reflective of the turbulent year faced by the crypto industry, which witnessed the collapse of leading industry players and a decline in crypto asset prices alongside a challenging macro environment with rising interest rates and surging inflation. The firm revealed last quarter that it had $76.8 million exposure to failed crypto exchange FTX and experienced a net loss in its mining business, which is typically profitable, due to increased expenses. Analysts estimated that Galaxy would report an average net revenue of 674 million Canadian dollars ($492 million) for the financial year and CA$43 million ($31 million) for the quarter.

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https://t.me/DeFi_Ethereum Open / Comment