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Results of the week: Bitcoin and Ethereum updated local minimums, and Vasil updated Cardano in Cardano


Nov 7, 2022

Results of the week: Bitcoin and Ethereum updated local minimums, and Vasil updated Cardano in Cardano

Bitcoin and Ethereum updated local minimums after the Fed’s meeting, hackers stole $ 160 million at Wintermute, Cardano developers activated Vasil updating and other events of the outgoing week.

Bitcoin and Ethereum updated local minimums

This week leading cryptocurrencies updated local minimums since June. On Thursday, September 22, bitcoin quotes fell to $ 18,125, and Ethereum – up to $ 1220.

The prerequisite was a meeting of the US Federal Reserve System on September 21. The regulator increased the range of the key rate by 75 basic points at once, to 3-3.25%.

At the time of writing, bitcoin is traded near $ 19,000, Ethereum – about $ 1315.

The flagships traditionally pulled the rest of the market. Almost all cryptocurrencies from the TOP-10 in capitalization were in the red zone. Exception – XRP (+33.9%) and Dogecoin (+0.5%).

The total capitalization of the cryptocurrency market amounted to $ 974.75 billion. Bitcoin dominance index decreased to 37.5%.

Hackers stole $ 160 million at Wintermute

On September 20, the Wintermute market maker lost $ 160 million as a result of a hacker attack. CEO of the platform Evgeny Gayeva emphasized that the goal was Defi operations, and OTC and CEX modules work in the same mode.

Later it became known that the attacker took advantage of the vulnerability of the Profanity tool to generate Vanity addresses containing words, names or phrases. The problem was previously warned by 1inch researchers.

Almost 20% of the blocks in the updated Ethereum are created using MEV-BOOST

After the EThereum transition to the Proof-OF-Stake (POS) algorithm, 18% of the blocks on the network generated using MEV, providing validators with an additional remuneration for staring. Thanks to MEV-BOOST, subjects using it were able to get 122% more profit. The blocks formed by them contained 41.4% more transactions.

According to Glassnode observations, four days after the Ethereum blockchain transition to the Proof-OF-Stake consensus algorithm, daily emission of coins decreased by 92%-from 48,400 ETH to 3893 ETH. The increased network activity led to the growth of the commissions, which made the second in capitalization cryptocurrency deflational over a short period of time.

Blocksec cybersecurity specialists discovered an exploit related to Ethereum Pow (ETHW). According to researchers, the smart contract of the Omnibridge system for Gnosis Chain incorrectly checked the Chainid parameter. Thanks to this, attackers were able to get an additional 200 ETHW, sending a similar amount to Weth. The developers of the Pow-report emphasized that the problem is in the contract, and not in the new blockchain.

SEC and Ripple suggested putting an end to the XRP status case

SEC and Ripple Labs submitted petitions to make a decision in the case of a possible violation of the law on securities in a simplified manner. The plaintiff and defendant explained that the judge has sufficient information for this.

Later, Brad Garlinghaus, Director General of the company, said that the case will not be referred to the jury, since the dispute is mainly on the application of the law.

On the network of Cardano activated the hard for Vasil

On September 23, the Input Output Global team successfully activated Vasil updating in the main network of Cardano. The upgrade will significantly increase the productivity and potential of the blockchain by increasing throughput, improving the performance and effectiveness of scripts, as well as reducing costs.

Microstrategy bought 301 BTC for $ 6 million

Microstrategy analytical supplier has acquired an additional 301 BTC for $ 6 million. The founder and ex-EO of the company Michael Seilor said that purchases were made in the period from August 2 to September 19 at an average price of $ 19,851. At the moment, Microstrategy and its subsidiaries have 130,000 BTC, which spent about $ 4 billion.

The head of FTX announced the availability of another $ 1 billion for buying crypto companies

The head of FTX Sam Bankman-Frida in an interview with CNBC hinted to readiness to spend approximately a billion dollars on cryptocurrency companies and projects.

Later, the media, citing the sources close to the exchange, reported that the FTX expects to attract $ 1 billion and confirm the estimate of the previous round of funding of $ 32 billion. Moreover, the conditions are not finally agreed, and negotiations continue.

Media: Binance faced Xenophobia in the struggle for Voyager Digital assets

The participation of Binance in the auction for the assets of the bankrupt cryptocurrency creditor Voyager Digital was in question due to reasons of national security. The exchange spokesman said that talking about the possible blocking of the transaction by the Foreign Investment Committee lies “Xenophobia”, despite the fact that the Binance is a Canadian company that is fully owned by a citizen of this country.

It also became known that Alameda Research will pay off $ 200 million to Voyager Digital a debt associated with CEO FTX Bankman Fried. She will pay 6553 BTC, 51 204 ETH and slightly smaller amounts in other tokens. The transaction will end until September 30.

What to discuss with friends?

  • Binance mistakenly paid users 4.8 million HNT for $ 19 million.
  • FT learned about the request of South Korea to Interpol for Covon.
  • SEC accused YouTube blogger Jan Balin of participating in an unregistered ICO.
  • Whitebit became a cryptocurrency partner Netflix.

Jess Powell will leave the post of General Director of the Kraken Cryptostean

Kraken cryptocurrency stock co -founder Jess Powell will leave the CEO post and take the chair of the chairman of the board of directors. He led the platform since the founding in 2011 and remains its largest shareholder. The main operating director Dave Ripley will be headed by the company.

In the United States, they examined the bill to prevent the bypass of sanctions through bitcoin

The House of US Representatives supported the bill Cryptocurrency Transparency Act, designed to prevent the evasion of Russia and Belarus from sanctions using cryptocurrencies.

The Ministry of Finance and the US State Department must report to Congress for any attempts to use digital assets to bypass Russia’s restrictions and persons who have fallen under sanctions, as well as their interactions with exchanges, wallets, exchangers and Defi platforms.

Binance will introduce a trading tax for Terra Classic after reaching the quorum among traders

Binance exchange will introduce a transaction tax for transactions with Terra Classic (LUNC). If the trading volume of the program participants reaches 50% of the aggregate indicator of the asset on the platform, the collection will be distributed to all customers, the head of the company Chanpen Zhao said.

Binance will begin to levy tax from the program subscribers when their trading https://gagarin.news/news/aptos-project-overview/ volume with LUNC reaches 25% of the aggregate indicator of the asset on the platform. After reaching a level of 50%, the collection will be distributed to all exchange traders that interact with Terra Classi.

Also on FORKLOG:

  • Michael Seilor predicted a new maximum of bitcoin for four years.
  • The UK proposed to simplify and speed up the removal of cryptocurrencies.
  • Binance added the possibility of verification through “DIY”.
  • The head of JPMorgan called cryptocurrencies “decentralized Ponzi’s schemes”.

What else to read?

Found out how the global financial crisis will affect the cryptocurrency market, how long the fall can last and how strong it will be.

FORKLOG figured out the features of the contradictory idea of ​​the founder of MakerDao about the abstract of the DAI stablecoin from $ 1. Allocated the main warring forces within the project and weighed potential risks associated with the proposal.

We released new cards about Tornado Cash and the reasons for its blocking, Filecoin blockchain and Chilliz game platform. They also explained what MEV is on Ethereum and how it will change after the transition to POS.

In traditional digestes, the main events were collected for a week in the areas of cybersecurity and artificial intelligence.

The decentralized finance sector (Defi) continues to attract increased attention of cryptocurrency investors. FORKLOG collected the most important events and news of the last weeks in digest.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.

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