Category: Cryptocurrency News

On Thursday, 6:19 p.m. (ET), the official Twitter account for the Bnb Smart Chain explained that the team was temporarily pausing the blockchain, after citing that it noticed irregular activity. Sources say that more than $600 million in Bnb tokens were reportedly stolen from the chain’s cross-chain bridge. The Bnb Smart Chain team detailed on […]

Well, this is peachy. Anyone who ever used Celsius can now be doxxed, potentially. They shared every transaction by every user as part of their bankruptcy filings. They redacted the addresses, but it shouldn't be too hard to put 2 and 2 together with date and amount. Some are claiming that this is just creditors,…
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$500 million of the funds currently collateralizing the Dai (DAI) stablecoin will be reallocated to U.S. Treasuries and corporate bonds in an effort to provide the protocol low risk additional yield.

Now in no means it’s outrages, but it cost me $13 and some change to bridge usdt poly to eth erc20? The transaction took awhile cause the miner/person said they wanted more money to bridge. I was using the poly beta bridge wallet. So the question is, why cost me to bridge $13 of eth…
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Cardano has suffered a significant drop in its total staked volume since its March 2022 peak. The proof-of-stake blockchain has lost over 76% of its total value locked in the past eight months. The decline is alarming, given the decentralized crypto project’s recent Vasil hardfork.  The Cardano community welcomed the Vasil upgrade with high expectations. The hardfork was meant to upgrade the blockchain’s performance and place it in a position to contend with other top DeFi projects. However, it seems that the update hasn’t been able to deliver much bullishness for ADA holders. Related Reading: Why “Rosy” Earnings Estimates Might Hurt Bitcoin As Price Struggles At $20,000 Loss Of Staking Value For Cardano Based on data obtained from Defi Llama, Cardano’s total value locked (TVL) has continuously decreased since its March height. It has now fallen below $80 million for the first time since January 2022. More specifically, Cardano’s TVL was reported to be $76.66 million at the time of this writing. This figure reflects a 76.49% decrease from the all-time high of $326 million that it hit on March 24, 2022. This new figure has pushed the staking value of ADA to the levels it had in January 2022. Cardano is presently ranked 27th among all blockchains regarding the total value of locked (TVL). It is trailing behind blockchains such as Bitcoin (BTC), Algorand (ALGO), Polygon (MATIC), Avalanche (AVAX), and Tron (TRX). Ethereum (ETH), which now has a market value of 32 billion dollars, has a commanding lead. Can Cardano Reach $1? ADA and most other cryptocurrencies suffered through a gloomy month in September. However, crucial updates and strong token fundamentals suggest that ADA might be set for a breakthrough in October. This is generally a bullish month for the cryptocurrency markets. Nevertheless, it seems unlikely that Cardano will be able to reach $1 in the next four weeks. This is because major technical indicators like the RSI and MACD are below 50, signaling a negative trend. Cardano Making Waves In Other Areas Despite the fact that Cardano’s staking value has dropped significantly, there are some positive developments happening within the project’s space. For instance, Cardano is among the ten most popular cryptocurrencies picked by banks that disclosed exposure to the innovative asset class. The findings were reported by the Basel Committee on Banking Supervision (BCBS) of the Bank of International Settlements (BIS). Not only that, but Cardano has also been winning in the social media area. The number of daily social mentions of ADA had risen to a 90-day high of 52,470 as of September 23. This brings the total number of mentions to 2.32 million, as per statistics from the social intelligence platform LunarCrush. Related Reading: Calm Before The Storm? Bitcoin Volatility At Historically Low Levels Finally, Cardano has the support of several bulls who have expressed their confidence in the project. The cryptocurrency community at CoinMarketCap is positive on the price of Cardano by the end of October. Based on a poll, members have predicted that ADA would trade at $0.5873 at the end of the month. This was 36.77% higher than its $0.4294 price at the time of writing. Featured image from Pixabay and chart from TradingView.com

Members of the European Parliament have called for “effective taxation” of crypto assets and “better use of blockchain” to counteract tax evasion. A resolution aiming to achieve both objectives has been approved by a large majority which also wants small crypto traders to enjoy a simpler tax regime. European Parliament Adopts Framework for Uniform Taxation […]

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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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Polygon (MATIC), the Ethereum L2 project, has seen a massive increase in its price over the past seven days. The project has enjoyed much attention from the bulls, gaining over 14% in just one week. Polygon, currently ranking 11th based on market cap, has had a busy week. The PolygonDAO has been closing deals and partnerships to expand the project’s reach. This might be a major determinant of its more than 14% increase. Related Reading: Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022 However, it’s uncertain if the token will breach its $0.85 resistance in the coming days. As of writing, MATIC is trading at $0.83, down 0.66% in the last 24 hours. Doubts Despite 7-Day Gains Despite recording a stunning 14% gain in value, there are still doubts surrounding the project’s next price direction. In the early hours of today, the coin strengthened itself against BTC and ETH. MATIC recorded 1.45% and 0.39% gains against both currencies, respectively. It also traded at $0.8462, a 0.70% gain over its last 24-hour price.  The price of MATIC has moved over both the 9 and 20 Exponential Moving Average (EMA) lines. This is noticeable on the daily chart for the MATIC/USDT pair. Still, on the subject of EMAs, the 9 EMA has just made a bullish crossover above the 20 EMA. This crossover may signal a continuous upward trend for the token. However, traders must be cautious as the Relative Strength Index (RSI) indicator shows that MATIC’s price has established a local top. The Relative Strength Index line seems to slope downward, indicating that prices have dropped to an oversold level. Another technical indicator is that the coin’s sale volume has recently surpassed the purchase volume. This suggests that the rise beyond the EMAs will be temporary, signaling bearish sentiments. Polygon’s Partnerships Sustaining Its Upward Trend Polygon has announced several new partnerships in the past few weeks that have helped push its value higher. One of the most notable is its exclusive partnership with RobinHood, a top crypto broker. The partnership saw Polygon become the first blockchain supported in the broker’s newly launched web3 wallet. Upon launch, 10,000 iOS users were given access to the wallet’s beta version. This number was just 10% of the total number of users who signed up for the waitlist back in May. Robinhood’s main aim for choosing Polygon is to give its users the best possible trading experience. The company cited the technology’s scalability, speed, and cheap network costs as the primary reasons for its decision. Related Reading: Wash Trading Dominates Bitcoin Volume, What Does This Mean For Price? Additionally, Polygon recently announced on Twitter that they’d hired Halborn Security to carry out a security audit for them. Halborn Security is a prestigious security firm that undertakes ethical hacking audits for blockchain companies across the globe. The Halborn team will have eight weeks to complete the task. They’ll also work with two seasoned full-time security engineers who are well-versed in advanced smart contract hacking, penetration testing, and blockchain protocols. Featured image from Pixabay and chart from TradingView.com