Bitcoin Crypto News

MEV Crypto Bot Gains $1M But Loses Same To Hack Same Day

Hacks and exploits are increasingly taking more root in the crypto space. With the acceptance of digital assets globally, crimes also grow. The criminals use more technological approaches to aid their exploitation and hacks on protocols and platforms. A slight and negligible loophole is enough to result in these exploits. MEV bot, an Ethereum arbitrage trading bot, amassed a whopping $1 million as a jackpot prize. However, the joy of its gains was short-lived as events turned out negatively for it some hours later. Before adequately reflecting on the tremendous value, a hack wiped the gains. Related Reading: QUANT Basks In Green As QNT Coin Surges 35% On 7-Day Rally MEV Bot’s Crypto Gains Came Through Arbitrage Trading Opportunity Robert Miller, an employee of Flashbots, a research firm, took to Twitter to report the attack. He noted that the Maximal Extractable Value (MEV) bot with the prefix 0xbadc0de earned Ether through arbitrage trades. He said the bot gained up to 800 ETH worth about 1 million in the works. The bot leveraged a considerable arbitrage opportunity from trader sales from Miller’s explanation. The transaction involved about $1.8 million in cUSDC via Uniswap v2, a decentralized exchange (DEX). The trading yielded just $500 assets in return. Upon detecting the advantage, the bot immediately utilized its availability to obtain a huge earning. But the bot’s gain could not stay much longer when a hacker discovered a vulnerability in its lousy code. The bad actor used the lapse to trick it into authorizing a transaction. The hacker wiped the bot’s balance, about 1,101 ETH. PeckShield, a blockchain security company, revealed that the bug is traceable to the bot’s callback routine. This served as the loophole for the exploit through which the hacker approved an arbitrary address for spending. Similar Vulnerability Attack Vulnerability attacks on the crypto space are skyrocketing. For example, an Ethereum vanity address generator, Profanity, recorded a vulnerability exploit on September 18. The attack ended with a loss of $3.3 million worth of funds from different wallets. 1Inch Network, a DEX aggregator, investigated the exploit. The DEX discovered some ambiguity in the creation of the compromised wallets. It warned the wallet users to move their funds due to the risk associated with their use. Related Reading: Bitcoin Notches Highest Trading Volume In Over 3 Months, Binance Data Shows There was another exploit on a vanity wallet address just a week after that of Profanity. The attack resulted in the loss of some Ether valued at approximately $1 million. The hackers moved their proceeds to Tornado cash, the crypto mixer which was recently sanctioned. Featured image from Pixabay, Chart: TradingView.com

Crypto News

What are AI and Web3 Valuation, Tokenization, and Monetization as a Service (VTMaaS)?

Valuing and monetizing tokenized assets requires tremendous skill and expertise. Thus, rendering asset management as a tool to raise growth capital and liquidity inaccessible to many. The global tokenization market sized at $1.92 billion in 2021 is expected to grow to $2.32 billion in 2022 at a compound annual growth rate (CAGR) of 21.09%. Tokenization increases liquidity, lowers costs, and enhances risk management. AI and web3 valuation, tokenization, and monetization can all sound like overhyped buzzwords. But when put together and packaged neatly into a service, they help organizations of all sizes and shapes realize the value of their tangible and intangible assets. This paves the way for unlocking new revenue streams, driving greater user adoption, and raising growth capital. At its core, Valuation, Tokenization, and Monetization as a Service (VTMaaS) is the ability to take something of value — like a company or asset — and break it down into small pieces that can be traded on a blockchain. This makes it easier for people to invest in things they might not have been able to before and opens up new opportunities for monetizing assets. With state-of-the-art AI and blockchain-enabled valuation and portfolio management engines, companies like Ovenue are striving to transform the asset management industry by empowering enterprises of all sizes to unlock the value of off-chain assets through their technology that are backed by AI and Web3. Ovenue builds and licenses AI and Web3 technologies for asset valuation, tokenization, and monetization. Asset owners or businesses can turn their real-world assets into asset-backed digital products (such as asset-backed tokens, a type of non-fungible tokens) that can be licensed, sold, and collateralized using Ovenue’s end-to-end software and platform, powered by artificial intelligence and blockchain technologies. These software products can be used by small and medium-sized enterprises or financial institutions for asset management, digital transformation, and financing. Identifying and Evaluating Assets for Tokenization The first step in the tokenization process is to identify which assets are best suited for tokenization. Once potential assets have been identified, they must be valued and evaluated in terms of their risk/return profile, liquidity needs, and other factors. After conducting a thorough analysis of the asset, a report is generated that outlines the feasibility of tokenizing the asset in question. In some cases, asset owners and businesses can choose their off-chain tangible and intangible assets they intend to onboard on to a platform like Ovenue. Intellectual property, commodities, natural resources, and real estate are a few examples of real-world assets that can be tokenized. The process of asset valuation is one that requires reliable valuation software, predictive analysis, and asset management expertise to generate a fair market value for real-world assets. Expert skill and knowledge of market conditions are required to meticulously calculate the value of an off-chain asset. Ovenue is adept at this. The valuation process structured by the team at Ovenue combined with predictive and historical metrics adds precision and trust to asset valuation and tokenization thanks to AI and Distributed Ledger Technology’s (DLT) immutability. The legitimacy and enforceability of smart contracts render a new class of highly valuable and transparent assets. Tokenization and Monetization of Assets The tokenization of an asset is the process of converting it into a digital token that can be traded on a blockchain. This makes it possible to transfer ownership in the asset and make it more liquid. Once an asset has been tokenized, it can be traded on secondary markets or used as collateral for loans. The assets, however, need to be isolated due to their inherent risks. This is particularly true in the case of intangible assets. To isolate the risk associated with the process, Ovenue offers asset owners the option to separate their assets into a Special Purpose Vehicle (SPV) to legalize the asset ownership. Asset-Backed Tokens (ABTs) are also key to creating new asset-backed products like asset sales, TradFi, and DeFi debts. This simplifies the financing and monetizing efforts as they cannot be replicated or subdivided. ABTs require a market where they can be traded or transacted to further financing efforts. Asset owners should be equipped to securely exchange digital money, leading to new growth opportunities and financial freedom. After valuation and tokenization, ABTs are listed to be sold, collateralized for future financing, licensed for royalty, or inventorized on the platform. Summary The AI and blockchain-enabled platform and finance protocols that Ovenue has developed significantly simplify raising growth capital. Asset tokenization brings highly valued assets into the platform and offers a new marketplace where investors can attain financial freedom by buying and selling their holdings. It also ushers in a higher return on investments.

Crypto News

BUSDVerse: How to Make Highest Yield Safely on Binance Smart Chain

As the cryptocurrency market grows, the demand for products offered by digital technologies rises too. Thanks to the emergence of blockchain and cryptocurrencies, the existing financial system is changing and there are many new opportunities that were not there before. This is the reason for such a rapid growth of digital assets. Thanks to the decentralization of cryptocurrencies, DeFi projects appeared and Yield farming began to develop. The opportunity to receive passive income on Yield farming has attracted many users to cryptocurrencies. Yield farming and the possibility of getting passive income are becoming popular and attracting many users, increasing the liquidity of DeFi projects. BUSDVerse.com , using all the advantages of DeFi and Yield farming, eliminates the existing disadvantages, making investing stable and profitable. Binance Smart Chain is a fast, secure, cheap blockchain, which expands its widespread use cases. That is why BUSDVerse.com offers its users the most profitable earning opportunities and the best conditions for getting passive income. Working in the most progressive, rapidly developing industry, we give others the opportunity to earn. The higher the working capital is, the higher is our income and the income of our investors. Marketing presents plans lasting from 14 to 28 days. There are 6 types of investment: regular investment, random investment and locked investment. Plan 1 – 8% daily for 14 days. Total profit 112% Plan 2 – 7% daily for 28 days. Auto compounding. Total profit 564% Plan 3 – 12% daily for 14 days. Withdraw at the end. Total profit 168% Plan 4 – 4-12% daily for 14 days. Random plan. Total profit 56-168% Plan 5 – 4-9% daily for 28 days. Auto compounding. Total profit 200-1016% Plan 6 – 8-16% daily for 10-18 days. Withdraw at the end. Total profit 80-288% Profit growths +0.5% daily, only for new deposits Minimal deposit: 5 BUSD RESTAKE FUNCTION: User can choose a plan to restake withdrawable balance and get +0.2% daily profit bonusBonuses if user does it: RANDOM RESTAKE FUNCTION:User can click special button, contract randomly chooses plan and restakes withdrawable balance. For those who wish to promote the benefits of BUSDVerse.com worldwide, a referral program is provided. The referral program consists of 3 levels – 5%-3%-1 BUSDVerse Features Simple User Interface There are a lot of platforms using Yield farming. However, in most cases, they are very difficult to use. Because of this, they are not available to most users. BUSDVerse.com offers a simple and easy-to-use user interface, which makes the platform very user-friendly and intuitive. High Profit The high return of 525% in a random investment plan attracts many investors to BUSDVerse . Dapp offers from 4% to 16% per day depending on the investment period. Easy Deposit BUSDVerse.com  provides a simple deposit function.  You don’t need to be a DApp expert. The presence of a crypto wallet is the main requirement. Safe Investment As mentioned earlier, DeFi protocols carry increased risks. However, the BUSDVerse protocol and smart contract are protected from any vulnerabilities, fraud, and errors. BUSDVerse.com is fully transparent and secure. BUSDVerse successfully passed an audit from SOLIDproof.io . No vulnerabilities, backdoors, or any scam scripts were found in this project. Around-the-Clock Support BUSDVerse.com has a 24-hour customer support service, ready to answer any questions and solve all problems. Users can contact the support service of BUSDVerse in Telegram group and other social media accounts. Why it is necessary to invest in BUSDVerse Yield farming offers many opportunities and has excellent prospects. We created BUSDVerse to contribute to the development of blockchain technology and take advantage of all the opportunities that this technology offers. There are many good reasons why you should choose Yield farming from BUSDVerse.com . But the biggest reason is that it safely provides the highest returns in the  Binance Smart Chain. It is a safe and reliable application with a guaranteed high return on investment.

Crypto News

Polkadot Price Drops On Chart With Resistance At $6.80, What’s Next?

Polkadot price had touched the $8 price level before the bulls lost steam and fell on the one-day chart. DOT travelled 3.6% lower in the last 24 hours on its chart. Over the past week, DOT had gained some value, but most of that was nullified at press time. The Polkadot price was making a recovery over the last two days as it had declined before that. Buyers had stepped in during the recovery period. At the time of writing, however, buyers had exited the market again. The technical outlook for the coin was bearish, with sellers taking over the market. The support zone for Polkadot price stood between $6.16 and $5.52. A fall below the $5.52 mark could bring DOT down below the $5 mark. As Bitcoin’s bulls fizzled out in the market, most altcoins that registered gains also started to lose their bullish momentum. If demand for DOT increases on its chart, the coin can attempt to revisit its immediate resistance mark. If buying power continues to fall, DOT will return to its local price support line. Polkadot Price Analysis: One Day Chart DOT was trading at $6.29 at the time of writing. The bulls tried hard to defend the price of the altcoin at $8, but buying strength fell, and it caused the altcoin to fall on its chart. The Polkadot price will witness a tough price ceiling at the $6.80 mark as the coin has been rejected at that level a couple of times in the past. A move past the $6.80 level will help DOT inch near the $7.73 price mark. On the flip side, the local support level for the coin stood at $6.17 and a fall from that mark would push Polkadot near the $5.52 level. Over the last trading session, the amount of Polkadot traded fell, signalling declining buying strength. Technical Analysis DOT was displaying that there was a fall in buying strength on the one-day chart. For most of this month, Polkadot price witnessed increased selling pressure, which has caused the bears to eventually gain more strength. The Relative Strength Index was below the half-line, and that meant sellers were out in force compared to buyers in the market. Polkadot was below the 20-SMA line, and that can be interpreted as less demand. It also meant that sellers were driving the price momentum on the one-day chart. Related Reading: Bitcoin Price Crashes To $19,000, But Stays Strong Against Other Assets DOT’s technical indicators displayed that selling strength had taken over the chart. The Moving Average Convergence Divergence indicates the price momentum and overall price action of the coin. The MACD continued to display red signal bars, which were also sell signal for the coin. Bollinger Bands measure price volatility and price fluctuation. The bands had widened as they reflected incoming price fluctuations for the altcoin. Related Reading: Ethereum Price Broke Out Of Descending Channel, What’s Next? Featured image from Publish0x, Chart: TradingView.com

Bitcoin Crypto News

Bitcoin (BTC) Price To Reach In Millions By 2030, Says Analyst

A well-known, conservative crypto analyst gave a bullish commentary about the price of Bitcoin. According to a YouTuber, further proliferation of the digital asset will cause a steady rise of BTC to a million dollars. On a YouTube video, InvestAnswers signaled that BTC is approaching diminishing returns. Diminishing return is when an asset gets to a point where increased future investment yields less profit. The crypto analyst said that BTC yields investors five times less profit every new market cycle in comparison to the previous one.  Related Reading: Bitcoin Price Crashes To $19,000, But Stays Strong Against Other Assets Bitcoin Primed To Trade For Millions Of Dollars By The Year 2030 However, the analysts gave a different view on bitcoin that was in contrast with the apparent diminishing return of the digital asset. They cited that the value of networks grows as the number of participants increases, according to Metcalfe’s law.  If Bitcoin follows the trend of disruptive networks like cellphones and the internet, applying Metcalfe’s law projects a bullish case scenario for bitcoin. In that vein, a modest consideration of BTC’s future price will put it at over a million dollars by the year 2030.  The host made it clear that this prediction was strictly based on the scientific possibility that Metcalfe’s law holds for the number one cryptocurrency in the world. It is, however, not subject to wishful thinking. According to the analyst, the bitcoin digital assets’ adoption follows the historical patterns of preceding technologies.  Quite like InvestAnswers, there have been several sightings of multiple users across the internet, supporting the future appreciation of bitcoin’s price.  Crypto Market Cycles  Since speculation says bitcoin is still bullish in the long run, many are looking forward to taking advantage of the next market cycle.  The market cycle explains the ebb and flow of a market. Usually, new markets have a slow start. They pick off from a point where people show little or no interest. But as interest in the asset starts to increase, demand rises, and its price starts to inflate as a result. A complete market cycle has four phases: accumulation, markup, distribution, and markdown.  Related Reading: Do Kwon Statement: A Possible Trigger For Terra Tokens Price Surge As mounting interest takes the price of the commodity to new highs, it gets to a point where it eventually peaks. Investors become satisfied with their returns. And then sell off the asset causing tremendous sell pressure. Therefore, the price begins to drop. After one market cycle ends, the next begins shortly. Bitcoin Price Action  Bitcoin has roughly ranged between $22,000 and $18,000 for most of the 3rd quarter of this year. Investors are keenly eyeing the condition of the broader market as a go-ahead to pump funds into risky assets like bitcoin. Featured image from Pixabay and chart from TradingView.com

Altcoins Blockchain Ethereum

Cosmos Community Publishes New Whitepaper for Highly-Anticipated Upgrade That Revamps ATOM

Leading members of the Cosmos (ATOM) community have unveiled a whitepaper for a redesigned Cosmos Hub, which is the technology at the center of its ecosystem. According to the whitepaper, the new Cosmos Hub aims to drive the growth of the Cosmos Network as it transitions toward becoming a secure and holistic platform that allows […]

The post Cosmos Community Publishes New Whitepaper for Highly-Anticipated Upgrade That Revamps ATOM appeared first on The Daily Hodl.

Crypto News

Binance Coin Could Be Set For A Litmus Test, Eyes $280

BNB price ranges below 50 and 200 EMA on the daily timeframe.  BNB shows bullish strength on the 4H timeframe as price breaks an asymmetric triangle. The price could be poised to retest the 1D and 4H resistance of $280.  Binance Coin (BNB) price showed bullish strength in recent weeks, but the price has failed to match that run against tether (USDT). With the price of Binance Coin facing resistance to breaking above $337, acting as a tough resistance area, the price of BNB has maintained a downtrend as the price broke its bullish structure. (Data from Binance) Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Binance Coin (BNB) Price Analysis On The Weekly Chart The price of BNB has recently declined after bouncing from its weekly low of $210 as a price rally to a high of $340 before facing a stip rejection, and the price has struggled to re-establish its bullish trend. The price of BNB is still above a critical support level of $270, which acts as a good demand zone for buy orders. The price of BNB must break through its weekly resistance of $280 in order to trend higher. To restore a relief bounce, the price of BNB must break and hold above the $280 resistance, which is preventing the price of BNB from trending higher. If the price of BNB continues to reject $280, we may see a retest of $270 and possibly a lower support area of $210 on the weekly chart. If the price of BNB breaks and holds above $340, this could start a major rally as this has proven to be a tough area to break out for BNB price. Weekly resistance for the price of BNB – $340. Weekly support for the price of BNB – $270. Price Analysis Of BNB On The Four-hourly (4H) Chart The price of BNB continues to show strength in the 4H timeframe, breaking out of its downtrend range after forming an asymmetric triangle with good volume. The price of BNB is $278, which is higher than the 50 EMA but lower than the 200 EMA. The 50 EMA acts as a support for the BNB price, while the 200 EMA acts as resistance. Prices at the 50 and 200 EMA for BNB are $274 and $280, respectively. Four-Hourly resistance for the BNB price – $280. Four-Hourly support for the BNB price – $274-$250. Onchain Analysis Of BNB The price of BNB from the on-chain analysis looks more decent, producing a reasonable return on investment (ROI) compared to other crypto assets that have struggled for the past three months. With backing from investors and partnerships, the price of BNB could do well. Related Reading: XRP Price Stumbles Near $0.47, What’s Next With Selling Pressure Building? Featured Image From zipmex, Charts From Tradingview and Messari

Bitcoin

Veritaseum Sued Coinbase Over Patent Infringement, Seeks $350 M For Settlement

Coinbase gets into trouble with another lawsuit of patent infringement, among its other legal issues. A blockchain-based fintech software company in New York, Varitaseum Capital LLC, sued the crypto exchange for infringing its patent transfer technology for several exchange services. Reggie Middleton, the founder of Veritaseum, filed the patent infringement case against Coinbase in Delaware […]

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Element and Fundamental Labs supporting the Era7 World Cup Tournament, building the first EsportsFi Ecosystem on Web3

Element and Fundamental Labs supporting the Era7 World Cup Tournament, building the first EsportsFi Ecosystem on Web3

Era7: Game of Truth, a BNB Chain TOP gamefi project, launched the first NFT TCG World Cup Tournament on September 11. The tournament has attracted continuous attention from partners in multiple fields of the blockchain industry. Fundamental Labs, a globally renowned crypto venture capital firm in the web3.0 field, and Element, the world’s first multi-chain […]

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The Tamadoge Presale Has Finished – Is Big Eyes Coin The More Viable Contender For Your Portfolio Now?

The Tamadoge Presale Has Finished - Is Big Eyes Coin The More Viable Contender For Your Portfolio Now?

Crypto enthusiasts are always looking for ways to improve their portfolios. Some cryptocurrencies offer a higher return potential than others, making it hard to choose which one to pick for your portfolio. Presales present the best opportunity to get involved in a cryptocurrency while the token price is low. Tamadoge (TAMA) is a new P2E […]