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Author: U.Today
Another DeFi-related project by the name of MeterIO was hacked, facing a loss of $4.3 million, which could be worth more by press time due to increased volatility on the cryptocurrency market. Hackers stole 1,391 ETH and 2.7 BTC. Technical explanation of the hack Meter pretty well replicates the technology of ChainSwap cross-chain hub, or is simply a fork of it. But the main difference introduced by Meter developers is the change in the deposit method of the ERC20 handler. The change assumes that the bridged token, which is a wrapped Native token, will not be burned or locked since the wrapped Native…
In a recent Medium blog post, Unification Foundation, a provider of blockchain solutions for enterprises, has announced that a public testnet of Shibarium, a layer 2 scaling solution for the Shiba Inu cryptocurrency, will be released “very soon.” The second version of Shibarium’s private testnet has already been launched. In December, developer Eric M tweeted that Shibarium couldn’t be “silently dropped,” adding that there were some things that needed to be done. Prior to that, he assured the community that the much-awaited scaling solution would be launched soon. Shiba Inu developers haven’t developed a definitive timeline for the project since they “don’t ensure success.” This…
The price of the Shiba Inu cryptocurrency has surged nearly 25% over the past 24 hours, according to data provided by crypto ranking site CoinMarketCap. It is currently changing hands at $0.00002793 on the Bitstamp exchange. Rival meme Dogecoin, for comparison, is up by a modest 6%. The canine coin has also experienced a 244% increase in trading volume, topping $2.7 billion. It is the sixth most traded cryptocurrency (behind only Tether, Bitcoin, Ethereum, Bitcoin Cash and Binance USD). Shiba Inu is in third place on Coinbase, the number one crypto exchange in the U.S. Because of the recent price…
Last week, I spoke with Phylicia Manyweather, the CEO at ValerStudios, an incubator and crypto-economy for Black wealth creation, also serving marginalized communities around the world. She explained to me how their project can help people and how much time is needed to reduce the current wealth gap. We also discussed the VLR token and some of Phylicia’s other projects, helping women and supporting wildlife. Let’s dive in! U.Today: Phylicia, you’re the CEO at ValerStudios. Can you tell us about your background before you started this position and what made you interested in crypto? Phylicia Manyweather: I started at Oklahoma State…
Controversial decentralized finance protocol Wonderland has called it quits, according to co-founder Daniele Sestagalli. The price of the Wonderland (TIME) token has shed another 10.43% over the past 24 hours. It has now plunged more than 97% from its all-time high. Wonderland was launched as an Avalanche-based clone of reserve currency protocol OlympusDAO last September. Members of its community refer to themselves as “frogs.”Earlier this week, the relatively obscure DeFi project became the talk of the town after it came to light that 0xSifu, the protocol’s pseudonymous co-founder, is Michael Patryn, the convicted criminal behind the now-defunct QuadrigaCX cryptocurrency exchange. He served 18 months in…
Since the initial announcement of smart contracts technology for Cardano, the community around it has been excited to see the Uniswap or PancakeSwap-tier representative of the ecosystem. Each had numerous risks entering the race as the community’s standards remained high. But ADAX succeeded and is now ready to release the ADAX DEX v1.0. Based on the philosophy of decentralization, ADAX DEX is going to utilize the order-book model that brings noncustodial and censorship-resistant trading. Users will be able to execute smart contract-based trades on the platform instantly by paying significantly less compared to Ethereum network fees. The launch of ADAX DEX is a…
Veteran trader Peter Brandt has suggested that it could be time to buy Bitcoin in his recent tweet. Brandt has opined that market sentiment has become too bearish, which is why he believes that the cryptocurrency is likely going higher. Buying assets when the market is fearful is one of the most popular principles of contrarian investing. He also attached a price chart that shows Bitcoin forming a descending channel on the weekly chart. Even though such patterns are considered to be bearish in the short-term, the flagship cryptocurrency will likely see more upside if bulls penetrate the upper trend…
Maria Munoz, a member of the Congress of Deputies from the center-right Citizens party, has proposed making Spain a safe destination for investing in cryptocurrencies amid protests in Kazakhstan that have adversely affected the Bitcoin mining industry. She points to the fact that that the global hash rate plummeted 14% within just two days due to the turmoil in the second-biggest mining hub. The economist also attributes the recent Bitcoin price drop to the turmoil in Kazakhstan. Earlier today, the flagship cryptocurrency dropped to as low as $40,600 on the Bitstamp exchange. Munoz proposed three questions with a request for a written answer. She inquires whether…