Did an “art heist” just happen on an Ethereum CryptoPunks NFT?

Experimental and new tech is always subject to intrusions and exploits, with crypto not far behind in that regard. And yesterday saw one of the first instances of an NFT being “front-run.” Punk gets sniped You may have heard of CryptoPunks, the first-ever, Ethereum-based, non-fungible token (NFT) project with over 16,000 unique “punks” which have…

Whales might’ve caused Ethereum’s (ETH) 50% dive on Kraken, says CEO

On Monday, the price of Ethereum (ETH) briefly dropped by over 50%—from around $1,600 to $700—on crypto exchange Kraken, prompting numerous debates on whether this was some kind of technical malfunction. However, the dip wasn’t an error and could have been caused by a whale trader, the platform’s CEO Jesse Powell told Bloomberg today. “We’re…

DeFi sees second-largest liquidation in history as crypto market dips

Yesterday’s decline of the crypto market has triggered the second-largest wave of liquidations in decentralized finance’s (DeFi) history as a total of $24.1 million worth of positions got wiped, according to metrics platform DeBank. The largest amount of collateral was liquidated on DeFi platform Compound ($13.7 million), followed by Aave with $5.4 million. Previously, the…

Impermanent loss is a death sentence for DeFi mining

Decentralized finance is a prevalent industry that keeps reaching new milestones. Despite the appeal, no one can deny plenty of issues with the current DeFi mining model. In my opinion, we need to revamp this entire aspect by removing impermanent loss from the equation.  DeFi Mining Has Issues One of the more popular aspects of…

Top two Ethereum addresses lock up $17 billion in smart contracts

The biggest Ethereum wallets are smart contracts instead of exchange or user accounts—a sign of adoption and activity. Wrapped Ethereum leads the charts Two of the largest Ethereum wallets are smart contracts, data from various sources shows. The top address is a “Wrapped” ETH wallet, while the next is the Ethereum 2.0 deposit wallet. “The…

DeFi platform hacks itself to safeguard users’ funds

The developers of Primitive, Ethereum-based decentralized finance (DeFi) permissionless options protocol, “whitehacked” their own platform after a severe exploit was discovered today. “EMERGENCY ALERT @PrimitiveFi has whitehacked our contracts to safeguard user funds after a critical vulnerability was discovered. Further user action is required to safeguard funds,” Primitive tweeted today. 🚨 EMERGENCY ALERT🚨 @PrimitiveFi has…

Nvidia bets big on Ethereum mining with new dedicated graphic chip

The chipmaker was overwhelmed by the massive use of its graphic chips by Ethereum and Bitcoin miners in 2017. But it’s prepared this time around. Nvidia’s Ethereum bet Graphics chipmaker Nvidia said Thursday it will release a new series of semiconductors specifically for mining Ethereum, as per a report on Verge. The firm saw huge…

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Tokens from the Binance Chain ecosystem are surging today, led by Binance Coin’s (BNB) own example—which broke above $270 today, according to CryptoSlate’s Binance Smart Chain sector data. The top 10 Binance Chain-based tokens. Image: CryptoSlate The level of $270 is yet another major milestone BNB is storming in just over a week. On February 9,…

Ethereum futures daily trading volume on CME doubles since last week

The daily trading volume of Ethereum (ETH) futures on the Chicago Mercantile Exchange (CME) has exceeded $75 million, crypto metrics platform Glassnode reported today. Institutional demand: One week after #Ethereum futures launched on CME, daily trading volume reached a total of $75.8M yesterday – almost doubling Friday’s volume of $40M. Meanwhile, open interest has increased…