Crypto News Ethereum

Binance CEO Says Exchange Recovered $450 Million From the Curve Finance Attack

binance-ceo-says-exchange-recovered-$450-million-from-the-curve-finance-attack

Following the recent Curve Finance attack, Binance CEO Changpeng Zhao announced that the exchange had recovered $450 million from hackers. The decentralized finance (defi) platform Curve saw roughly $570 million siphoned from the application on August 9. Binance Boss Says Exchange Froze 83% of the Curve Finance Hack Funds, Domain Provider Says Exploit Was DNS More

The post Binance CEO Says Exchange Recovered $450 Million From the Curve Finance Attack appeared first on BTC Ethereum Crypto Currency Blog.

Bitcoin Crypto News

Bitcoin Bullish Signal: Whale Exchange Inflows Remain Down

On-chain data shows the Bitcoin whale exchange inflows have remained down after hitting a local peak a while back, a sign that could prove to be bullish for the price of the crypto. Bitcoin Whales Aren’t Sending Many Coins To Exchanges Right Now As pointed out by an analyst in a CryptoQuant post, the BTC inflows made a peak recently and have remained down since, a signal that the bottom may be in for the coin. The “all exchanges inflow” is an indicator that measures the total amount of Bitcoin being transferred to wallets of all centralized exchanges. When the value of this metric is elevated, it means a large number of deposits are being made on exchanges right now. Since investors usually send their coins to exchanges for selling purposes, such values of the indicator can be bearish for the price of BTC. Related Reading: This On-Chain Indicator Suggests Bitcoin Still Only 1/3rd Into Bear Market On the other hand, low inflow values suggest a healthy amount of selling may be going on in the market right now. Depending on whether the outflows (the opposite metric) are raised or not, this kind of trend can be either bullish or neutral for the value of the crypto. Now, here is a chart that shows the trend in the Bitcoin all exchanges inflows over the last few years: The value of the metric seems to have been low in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin exchange inflows hit a peak a while back, following which the crypto sunk down below $18k. The chart also includes the data for two other indicators, the “top 10 whale inflows” and the 7-day average of the total inflows. The former metric gives the sum of the ten largest deposits going to exchanges. These transfers are generally assumed to be from whales, so that this indicator gives us an idea about the current selling behavior of these humongous holders. Related Reading: Low Caps Like Uniglo (GLO) And Convex Finance (CVX) Likely To Make New Millionaires Alongside Bitcoin (BTC) It looks like both the whale inflows and the 7-day mean total inflows have made a similar pattern in recent weeks. Historically, the trend of a sharp inflow spike followed by low values has been a sign of bottom formations for the crypto. As whales, and other investors as well, aren’t putting too much selling pressure on the market right now, it’s possible that Bitcoin may see a bullish outcome in the coming future. BTC Price At the time of writing, Bitcoin’s price floats around $23.2k, down 5% in the past week. Looks like the value of the crypto has been consolidating sideways recently | Source: CryptoQuant Featured image from Sandra Seitamaa on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Crypto News

The 3 Best Bitcoin Wallets For Crypto Gambling 2022

Cryptocurrency betting has been on the rise in the past few years and it is currently one of the most popular ways to gamble online. There are a lot of reasons to try it out yourself – better house edges, extra bonuses, and the ability to bet with your favorite cryptocurrency and support the ecosystem. Some of the best Bitcoin casinos also offer unique games like Crash and Plinko, which you won’t find elsewhere. If you’re looking to get started with crypto gambling, the first step is to choose a Bitcoin wallet. But where do you go? In this article, we’ll show you the three best Bitcoin wallets for gambling in 2022. First, let’s get one thing straight: What Makes a Good Crypto Gambling Wallet? When it comes to gambling with Bitcoin, there are a few key factors you need to look for in a wallet. First and foremost, the wallet needs to be safe. This means that it uses strong security features to protect your coins from hackers – especially since you’re likely using a hot wallet (more on those later) The second thing to look for is ease of use. The last thing you want is to struggle with sending and receiving Bitcoin when you’re trying to place a bet. User-friendly wallets also mean more people can enjoy crypto betting, even if they’re not blockchain wizzes. Finally, you’ll want to make sure that the wallet you choose allows gambling transactions in the first place. Coinbase is a good example here – though it’s one of the biggest and most beginner-friendly wallets, their Terms and Conditions do not allow gambling, making it a very poor choice to use at online casinos. With that in mind, let’s take a look at the 4 best Bitcoin wallets for gambling in 2022: The Best Bitcoin Gambling Wallet Overall: Blockstream Our number one choice for a Bitcoin gambling wallet is Blockstream. The app  is highly secure and user-friendly, making it easy to store and use your Bitcoins for gambling. The app is available for both desktop and mobile devices, and it offers a variety of features that make it ideal for betting. Tou can create a wallet in seconds, back it up with a hardware device like Ledger or Trezor, and the mobile app works like a breeze. As an added bonus, you can use Blockstream in 11 different languages, making it one of the most accessible Bitcoin wallets around. The Best Mobile-Friendly BTC Wallet: BRD BRD’s marketing is simple: “The first mobile wallet. The best mobile wallet.” And they definitely live up to that promise. With eight years of experience and over $20 billion throughout different addresses, BRD is one of the most popular mobile wallets around. This is thanks in part to their industry-leading security features, which include two-factor authentication, a host of encryption methods, and a recovery seed. Plus, you can buy and sell crypto right on the BRD platform, which makes it super user-friendly. The Best Privacy-Forward Wallet: Electrum We won’t lie to you: Electrum has none of the bells and whistles that other Bitcoin  wallets come with. No in-app purchases. No fancy design. No customer service to speak of. It’s just a simple, straightforward Bitcoin wallet… with one very important advantage: it’s incredibly privacy-forward. The open-source, decentralized design means that there’s no company or organization to collect your data. Electrum is about as close to a “pure” Bitcoin experience as you’re going to get. If you’re looking for a Bitcoin wallet that puts your privacy first, Electrum is definitely the right choice. The Best Bitcoin Gambling Wallet: Final Thoughts As the crypto casino market grows, so does the need for a secure and private Bitcoin gambling wallet. While there are many different wallets out there, only a few offer the features and security that crypto casino players need. The best Bitcoin gambling wallet should offer a high level of security, without compromising user friendliness – and, of course, it should allow gambling transactions to begin with. All three wallets we suggested here are safe, straightforward and offer stellar features for crypto casino players. So, which is the best Bitcoin gambling wallet for you? It really depends on you – whether you prefer a bare-bones design with better security features or favor an all-in-one platform, accessible from both your desktop and mobile devices. Either way, we hope our selection helped give you ideas on which Bitcoin gambling wallet is the best for you. Thank you for reading and remember to share with your crypto-enthusiastic friends!     Image by -Rita-👩‍🍳 und 📷 mit ❤ from Pixabay

Crypto News

XRP In Bearish Mode As Ripple Unlatches 1 Billion Tokens From 2 Wallets

Ripple (XRP) is in bearish mode and was down 1.93% as seen overnight. Moreover, Ripple has recently freed up over 1 billion XRP tokens coming from two separate escrow wallets. Currently, the crypto trades at $0.38 on the biggest spot exchanges. Ripple has evidently locked over 55% of XRP’s total supply in escrows way back 2017. Analysts believe that its bearish sentiment or weakness is relevant to Bitcoin’s failure to surpass the $24,000 mark as opposed to the controversial unclasping of new tokens that happened recently. In effect, Ripple is trying to restore most of the tokens that they’re sending to escrow. Additionally, unlocking of the new tokens happen every first day of the month and has no effect whatsoever on XRP price. In spite of the misunderstanding, most of these tokens won’t necessarily swamp crypto exchanges. Ripple Sold Over $408 Million Of XRP In Q2 To date, Ripple has sold roughly $408 million of XRP in Q2. The recent success or increase in sales is attributed mainly to On-Demand Liquidity Service picking up steam. Jed McCalbe, Co-Founder of Ripple, has sold the rest of his XRP tokens the previous month which means his letting go of XRP and won’t be able to support or add to Ripple’s selling momentum. According to CoinMarketCap, as of press time, XRP’s total circulating supply is at 48.3 billion tokens. On July 30, XRP price has skyrocketed by 13% on July 30 and held on to the liquidity that snuggled right above the highs spotted at $0.387.  The recent upturn was exceptional but fell short in terms of momentum. In effect, XRP price ducked and splitting gains. Further Downtrend Looms For XRP The four-hour candlestick was seen to close just below the support zone of $0.381 which indicates further downturn. In any case, investors should foresee XRP price to reopen at the support level of $0.340. On the flip side, if XRP price can stay afloat or above $0.381, then that validates this position as a support level. Further, this also rescinds the bearish perspective. When this happens, the XRP price can potentially pave the way to revisit the resistance zone spotted at $0.439. On June 22, Ripple Labs announced the launch of their new office in Toronto, Canada plus plans on hiring initially around 50 engineers with plans to hire 100 to 200 staff down the line.  Brad Garlinghouse, Ripple Labs CEO, was ecstatic as seen in the video posted on Ripple’s Twitter page, describing Toronta as a hub for “excellent engineering talent.” XRP total market cap at $17.7 billion on the weekly chart | Source: TradingView.com Featured image from Ripple Coin News, chart from TradingView.com

Bitcoin

Vibed Streaming App: Earn Crypto For Streaming Music

That active participation will be rewarded in crypto indeed! Apes are often thought of as unintelligent and violent. In most cases, the popular notion is that apes pose a threat to human existence. And yet, anecdotal evidence from the field challenges such assumptions, suggesting for example that a class of Apes- the Orangutans- have good […]

Crypto News Ethereum

Ethereum Bullish Signal: Exchange Inflows Decline To Low Values

On-chain data shows the Ethereum exchange inflows have declined to low values recently, a sign that could be bullish for the crypto’s price. Ethereum 7-day MA Exchange Inflows Have Gone Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the ETH price has been reversing up as the PoS merge comes near. The “exchange inflow” is an indicator that measures the total amount of Ethereum moving into wallets of all centralized exchanges. When the value of this metric shoots up, it means a large number of coins are being deposited into exchanges right now. Since investors usually transfer to exchanges for selling purposes, such a trend can be bearish for the price of the crypto. On the other hand, low values of the indicator can suggest holders aren’t sending in many coins to exchanges at the moment. Depending on whether they are also withdrawing or not, this trend could be either bullish or neutral for the value of ETH. Now, here is a chart that shows the trend in the Ethereum 7-day moving average all exchanges inflow over the past six months: The 7-day MA value of the metric seems to have been going down in recent days | Source: CryptoQuant As you can see in the above graph, the Ethereum exchange inflows sharply rose up in June and hit a peak. The price simultaneously suffered a big hit due to the selloff. Following this surge, the indicator’s value started to observe a decline. Around when the ETH developers announced the 19th September date for the PoS merge, the coin’s price started making recovery as the inflows continued to trend down. Now the metric finds itself at pretty low values. There has only been one dip below the current values in 2022, which was back in March. These rock-bottom inflow values can imply Ethereum might see more bullish momentum in the near future as long as the selling pressure remains muted. The chart also displays data for the “open interest,” another on-chain indicator that measures the amount of positions currently open in the derivatives market. It looks like the ETH positions have recently seen some growth. An active futures market can result in higher volatility due to excess of leverage, and in this year so far, high open interest hasn’t been constructive for the crypto’s price. ETH Price At the time of writing, Ethereum’s price floats around $1.7k, up 12% in the last week. Over the past month, the crypto has gained 56% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has moved sideways recently | Source: ETHUSD on TradingView Featured image from Bastian Riccardi on Unsplash.com, charts from TradingView.com, CryptoQuant.com

Bitcoin Crypto News

Ukraine High Ranking Officer Shares Thoughts On Crypto Assets, Says It’s Important

One of the advantages of using crypto is to ease cross-border transactions. Crypto makes the process swift, simple and affordable. Another reason to applaud crypto is the anonymity in users’ transactions. Anyone can send money anywhere without compromising their identity. This mode of operation has been frowned at as promoting money laundering and other nefarious […]

Bitcoin Crypto News Ethereum

Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump

Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending  both Bitcoin and Ethereum climbing in prices. The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday. In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion. Bitcoin was down the past week with its price plunging below $21,000. But, with Fed’s latest 0.75% rate bump, the BTC price has skyrocketed once again. Fed Battling Inflation With Interest Rate Hikes The Federal Reserve attempts to buffer inflation with a 0.75% rate increase. The central bank’s move on the rate hike is said to be in the country’s best interest especially since the U.S. Bureau of Labor Statistics recently broke it to the public that the Consumer Price Index or inflation rate is at 9.1% in June, a 40-year high. The Fed’s continuing rate hikes have sent the negative message that the country could be in danger of a recession. It triggered a domino effect. Following the Fed’s rate hike, the U.S. interest rates have also spiked at a range of 2.25% and 2.5% which is at extreme levels since the COVID-19 pandemic started. The U.S. central bank has recently revealed this development at the Federal Open Market Committee held Wednesday. Related Reading | BNB Basks In The Green As Price Glows 5.84% In Fields Of Red Survey: 96% Of Americans Worried About Inflation The Fed has been trying to put a rein on the high prices with an increase in interest rates for the longest time. U.S. Bureau of Labor Statistics disclosed that the biggest factors adding up to the inflation rate are shelter, gasoline, and food price hikes. Reportedly, a CNBC poll revealed that around 96% of Americans have been particularly worried or concerned lately regarding the gas, shelter, and food price increase.   Image: Beinchain To beat inflation, the Fed has the option to constrict the supply of money. So, it resorts to bumping the interest rates which in effect, makes loans expensive. The 0.75% rate hike was expected although it was earlier ruminated that the central bank may go for a 1% rate hike when inflation mellowed in June. Related Reading | GNOX Set To Overtake APE, MATIC As Token’s Price Continues Ascent The recurring high prices and interest rate hikes have fueled fear in citizens as the danger of a recession continues to escalate. It has heightened levels of uncertainty in global markets especially because a recession would most likely happen following two straight quarterly GDP drops. The GDP as presented by the Bureau of Economic Analysis has shown that the economy has dwindled by 1.6% as shown in the first financial quarter and economists are concerned that a decline is possible too for the second quarter. GDP Q2 numbers will be announced tomorrow. And the White House has already prepared the public for this important announcement with an interview transcript and blog post by Janet Yellen, the Treasury Secretary who has set the records straight that two consecutive quarters is not indicative of a recession. More so, U.S. President Biden made an assurance of sorts that the country is not going to face a recession. Crypto total market cap at $1.02 trillion on the daily chart | Source: TradingView.com Featured image from Euronews, chart from TradingView.com