Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses

Bitcoin price started a fresh decline from the $24,250 resistance zone against the US Dollar. BTC declined below $23,000 and remains at a risk of more losses. Bitcoin started a fresh decline below the $23,500 support zone. The price is now trading below the $23,500 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $23,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $23,250 resistance to start a fresh…

Curve Finance team warns users to avoid using site until further notice

On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an ongoing exploit on its site. The team behind the protocol noted that the issue, which appears to be an attack from a malicious actor, was affecting the service’s nameserver and frontend. Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised. Investigation is ongoing: likely the NS itself has a problem — Curve Finance (@CurveFinance) August 9, 2022 Curve stated via Twitter that its exchange — which is a separate product — appeared to be unaffected…

Game dev explains why blockchain should be ‘invisible’ in P2E gaming: KBW 2022

According to the company’s president Kyu Lee, who spoke at Korea Blockchain Week 2022 in Seoul, revealing the plan to launch a new blockchainCom2uS, the mobile game developer wants to create its own version of Web3, “where it is free to play and own.” Th XPLA, which roughly represents the words explore and play, will be a blockchain network focused on the needs of the company’s gaming community, along with Metaverse experiences. For Lee, blockchain was the obvious next step for the company’s presence in the gaming industry: “It was…

Ethereum Layer 2s Could Take Revenue From the Blockchain as They Become More Competitive: Coinbase

Coinbase says that if more user activity moves to layer 2s and these blockchains need their own tokens to enable transactions, this could reduce the staking yields to Ethereum validators , cutting their revenue. That could reduce staking on the platform and increase the amount of ether (ETH) circulating, potentially damaging the cryptocurrency’s price. A decline in validators could also have a negative impact on the overall security of the network, the report said. Author: Will Canny Source link

Crypto Weekly Inflows Have Topped $500M for Six Consecutive Weeks: CoinShares

Inflows into crypto investment products have been experiencing an uptick for six consecutive weeks, topping $500 million, according to a report by market insight provider CoinShares. The study dubbed “Volume 92: Digital Asset Fund Flows Weekly Report” highlighted: “Digital asset investment products saw inflows totalling US$3m last week marking the 6th consecutive week of inflows that total US$529m, representing 1.7% of total assets under management (AuM).” Source:CoinShares   CoinShares noted that constant inflows are happening despite the crash in the crypto market witnessed in the second quarter of…