Category: Cryptocurrency News

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Bitcoin price is attempting an upside break above $16,800. BTC could gain bullish momentum if it clears the $16,800 and $17,000 levels. Bitcoin is still trading in a major range below the $16,800 and $17,000 resistance levels. The price is trading above $16,600 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $16,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $16,800 resistance. Bitcoin Price Eyes Upside Break Bitcoin price formed a base above the $16,350 support zone. BTC started a slow increase and was able to clear the $16,650 resistance zone. The price even spiked towards the $16,800 resistance zone. However, there was no upside break above $16,800. A high was formed near $16,770 and the price started a downside correction. There was a drop below the $16,700 level, but the bulls are active above the $16,600 level. Bitcoin price is now trading above $16,600 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $16,620 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $16,685 level. The 50% Fib retracement level of the recent decline from the $16,770 swing high to $16,599 low is also near the $16,685 level. The first major resistance is near the $16,700 zone. Source: BTCUSD on TradingView.com The 61.8% Fib retracement level of the recent decline from the $16,770 swing high to $16,599 low is also near the $16,700 level. The next major resistance is near the $16,800 level. The main barrier is still near the $17,000 level. A clear close above the $17,000 resistance might start a fresh increase in the near term. Fresh Drop in BTC? If bitcoin price fails to surpass the $16,800 resistance, it could start another decline. An immediate support on the downside is near the $16,620 level and the trend line. The next major support is near the $16,500 level. A clear move below the $16,500 support might send the price towards the $16,350 level. Any more losses might send the price towards $16,000. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $16,500, followed by $16,350. Major Resistance Levels – $16,700, $16,800 and $17,000.

The Algorand blockchain just surpassed the 1 billionth transaction mark. It’s had a period of sustained high load recently, including 1 million transactions in 206 seconds, performed by “TheBillBored”. All this without any downtime, and with reliable, consistent performance. Are there issues with the chain? Absolutely – see some of the recent skeptic posts. They…
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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that the price of gold will soar to $3,800 this year while silver will hit $75. He also shared why he became “a gold bug” and “a silver nut.” Robert Kiyosaki’s 2023 Gold and Silver Price Predictions The author of […]

Security firm Dedaub discovered and disclosed a critical vulnerability on the popular Ethereum decentralized exchange Uniswap. The team behind the protocol fixed the bug, and the affected components were successfully redeployed—otherwise, an attacker could have tempered with transactions to steal a user’s funds.  Related Reading: Ol’ Reliable Litecoin Up By 7% As LTC Flexes Muscles For 2023 Uniswap Avoids Danger And Fixes New Features According to the security firm, the vulnerability was unintentionally implemented with the Universal Router. This component allows Uniswap users to trade ERC-20 tokens and non-fungible tokens “into a single swap router.” In other words, Uniswap users can optimize their operations and trade multiple tokens and NFTs in a single transaction, saving time and money. This new component also allows users to transfer funds to third parties.  When the vulnerability was in-placed, a user could send a transaction to a third party, and the latter could have gained access to the sender’s funds. Dedaub explained the following: (…) if third-party code is invoked at any point in the transfer (which manifests itself due to composition of protocols), the code can reenter the UniversalRouter and claim any tokens temporarily in the contract (…). The attacker also needs to implement code to reenter the router (calling execute) and sweep all token amounts. The router may contain funds mid-transaction due to other actions and transfers in a complex swap. The Universal Router hold the sender’s funds while the transaction is completed. While this happened, the funds were vulnerable, and a bad actor could drain them by calling specific commands such as “dispatch” with a “.TRANSFER” or. “.SWEEP.” The vulnerability could have allowed a bad actor to “re-entered” a transaction using this command. Once inside, the attacker could have been able to “drain the entire amount” from the sender’s wallet.  The security firm added the following on the “endless scenarios” where the vulnerability could have been exploited: If untrusted code is invoked at any point in the transfer, the code can re-enter the UniversalRouter and claim any tokens already in the UniversalRouter contract. Such tokens can, for instance, exist because the user intends to later buy an NFT, or transfer tokens to a second recipient, or because the user swaps a larger amount than needed and intends to “sweep” the remainder to themselves at the end of the UniversalRouter call. And there is no shortage of scenarios in which an untrusted recipient may be called (…). Ethereum DEX Grants $3 Million In Bug Bounty In December 2022, Uniswap launched the Universal Router as part of their new NFT compatibility. At that time, Uniswap Labs announced a $3 million bounty program. Dedaub was granted this amount for their bug report on the new component. The firm celebrated the reward and the fact that a bad actor never exploited the vulnerability. In addition, the security firm was “the only bug report that Uniswap acted upon.”  2022 was a troublesome year for crypto and risk-on assets, while macroeconomic forces played against the nascent sector. Users experienced hurdles beyond declining prices as hackers and bad actors took billions from the industry.  Data from on-chain analytics firm Chainalysis claims that bad actors have received over $26 billion in cryptocurrency from 2017 to 2021 alone. It remains to be seen if 2023 will extend or mitigate this trend.  Related Reading: Bitcoin, Ethereum Lack Volumes To Justify Caps, Says Santiment As of this writing, UNI’s price trades at $5.70 with sideways movement on the daily chart. 

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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Support for cryptocurrency regulation in the United States is “bipartisan & bicameral” according to Ripple CEO Brad Garlinghouse.

While the crypto market in 2022 was hit by a slew of insolvencies and daily volatility, adoption seems to have continued apace on the global level.

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