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OlympusDAO (OHM) and many of the forked rebase projects it inspired have suffered brutal losses this past week despite the broader DeFi markets rebounding from last week’s lows. The tumultuous markets have also pushed Ethereum’s seven-day burn-rate up to 11 ETH per minute, while the Fantom, Arbitrum, and Terra networks each posted significant TVL growth for the week. OHM and Rebase Forks Plunge https://twitter.com/mickhagen/status/1482899985892986883?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1482899985892986883%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Folympusdao-forks-brutalized-broader-defi-092317878.html OHM ranks as the weakest performing top 100 DeFi token for the week according to CoinGecko. The token is down roughly 53% since Jan. 10, including a loss of 32.6% in the past 24 hours. Well-known OHM-holder, Twitter user…
More than 40 per cent people in the US do not have much knowledge about cryptocurrencies, according to a report by blockchain company Huobi Group. The report, titled Crypto Perception Report 2022, said that more than 40 per cent of people are not at all knowledgeable or not very knowledgeable about cryptocurrencies, while 28 per cent people were somewhat knowledgeable. The survey was conducted among 3,144 people, out of which 53 per cent were women and 47 per cent men. “The knowledge in crypto is still low because the tech is not taught through any school or university. The only…
The price of Bitcoin remained relatively steady on Monday morning after a calm weekend that saw the world’s largest cryptocurrency hover around $43,000. Bitcoin suffered some hefty losses at the start of the year, briefly dropping below $40,000 last week as the prospect of more aggressive tightening from the Federal Reserve and other central banks weighed on riskier assets. The recent decline in Bitcoin saw a ‘death cross’ chart pattern formed where the 50-day moving average moved below the 200-day moving average. Typically, when this occurs it signals a bearish trend for the asset in question. The last time a ‘death cross’ was observed…
A litigant’s statement that it has ‘good prospects’ of ‘soon’ gaining access to bitcoins worth £13.7m is not sufficient to meet a request for security against adverse costs, a judge has ruled. The judgment is the latest development in a wave of litigation to have arisen over the claim of Australian computer scientist Dr Craig Wright to be the creator of Bitcoin, the trillion-dollar cryptocurrency, in 2008. In Tulip Trading Ltd v Bitcoin Association for BSV, Master Clark was ruling in an application for costs security in a jurisdiction challenge brought by 15 overseas defendants in a High Court action brought…
Long time crypto supporter and Bitcoin bull Max Keiser is predicting that BTC will reach $220,000 before the end of the year. Speaking in a recent interview with Stansberry Research’s Daniela Cambone, Keiser gave the reasoning for his bullish price prediction, including a justification for why Bitcoin failed to reach six-figures in 2021. Keiser argued that the $220K price point was based upon a typical four-year cycle for Bitcoin. He noted that a number of factors prevented BTC from reaching his bullish mark last year, including the massive collapse in Chinese crypto mining and hashing power. According to Kesier, mining…
Last year, a collective of cryptocurrency fans pooled millions of dollars to buy a copy of the story bible for director Alejandro Jodorowsky’s legendary never-made adaptation of the novel Dune. After winning a November auction, the group voted last week on a direction for the project and got promptly roasted online for allegedly not understanding what they’d bought. Their plans included an animated series inspired by Jodorowsky’s Dune, and as any good collector likely knows, buying a commemorative copy of a script or storyboard doesn’t give you the right to shoot your own version. The actual situation seems more ambiguous than some critics are suggesting. The Dune story bible’s owners,…
BTC mining rate, one of the most important indicators of Bitcoin’s network activity, witnessed a jump of more than 100% in the last six months. Glassnode’s data shows that BTC’s mean hash rate has touched a new all-time high of 183 Exahash. Last year, China launched a crackdown on crypto mining in the region and introduce a complete ban on mining activities in the country. Due to China’s dominance in the global crypto mining ecosystem, the hash rate plunged by more than 54% in May 2021. An astonishing jump of almost 117% since July 2021 highlights a sooner-than-expected recovery in…
A bitcoin user on Saturday lost $1.14 million to online thieves posing as MicroStrategy chief executive officer Michael Saylor. The user sent the equivalent of 26.4 bitcoins (BTC) to an address confirmed by crypto tracking service Whale Alert as a bitcoin scam. A nightmare come true, Whale Alert said, “this scam received the single largest payment ever to a fake giveaway.” “We suspect this payment was made through a Coinbase address,” added the outfit, famous for tracking large-scale bitcoin transactions. It said the theft occurred via this website and on YouTube, both “confirmed” scam platforms used by con-artists to impersonate Saylor. The YouTube channel has since been…
Law and technology overlap in many ways, but scholars and regulators tend to focus on incompatibilities between the two. I propose that they also explore synergies between law and tech, and address frictions in a way that preserves them. This exploration should begin with blockchain and antitrust. In recent months, a body of blockchain antitrust cases has emerged. Looking at the cases in isolation could give the impression that the interaction between blockchain technologies and antitrust laws is only a point of friction. In Gallagher v. Bitcointalk.org, a Bitcoin enthusiast filed a claim against the Bitcoin Foundation and the forum owners for excluding…
Last Sunday, Golden State Warriors superstar and “Splash Brother” Klay Thompson returned to the basketball court for the first time since injuring his ACL in the 2019 NBA Finals. He dropped 17 points in an emotional season debut; however, his biggest score might have taken place the day after the game. “I’m BACK and changing it up: excited to take part of my paycheck in bitcoin thanks to Cash App!” he tweeted. “I’m with bitcoin because I believe it’s the future of money.” Thompson and Warriors teammate and Finals MVP Andre Igoudala announced a partnership with Cash App to take a portion of…