In A Nutshell The realized price of Bitcoin (BTC) for short-term holders has reached a new peak at $64,000, signaling a bullish trend as BTC’s overall price soared past $70,000 on June 10. This uptrend is supported by several key metrics, including trading activities and the average acquisition price for coins moved within the last…
In A Nutshell Ethereum layer-2 solution, Optimism, has reached a significant milestone in its path towards decentralization, known as “Stage 1”. This development has been marked by the implementation of fault proofs into its smart contracts. This advancement allows users to initiate withdrawals of Ether and ERC-20 tokens independently, without relying on any trusted third…
In A Nutshell The Switzerland-based Lykke cryptocurrency exchange experienced a significant security breach on June 4, leading to a temporary halt in withdrawals. The platform confirmed that an attack drained approximately $22 million in crypto assets. Despite this, Lykke assures its users that their funds are secure and recovery efforts are underway, bolstered by the…
In A Nutshell UwU Lend, a decentralized finance (DeFi) platform known for providing liquidity markets for digital asset borrowing and lending, was compromised in a major security breach. The exploit, detected on June 10, led to the theft of nearly $20 million in various cryptocurrencies. Cyvers, an on-chain security firm, initially discovered the incident, reporting…
In A Nutshell The memecoin project Normie, leveraging Coinbase’s native blockchain Base, recently announced the termination of an intern responsible for posting an offensive promotional video on its official X account. This video, criticized for its distasteful content, showcased a cartoon chef in a manner that was deemed offensive by the crypto community. In light…
In A Nutshell The Solana Foundation has recently taken decisive action against a group of validator operators involved in executing “sandwich attacks” on traders. This move underscores the foundation’s commitment to maintaining the integrity of its blockchain and protecting retail investors from malicious practices. Understanding Sandwich Attacks A sandwich attack in the cryptocurrency context involves…
In A Nutshell Yat Siu, the co-founder and chairman of Animoca Brands, recently shared his insights on the future of blockchain and cryptocurrency adoption, focusing on the gaming sector as the primary catalyst. During an episode of Decentralize with Cointelegraph, recorded at the Consensus 2024 conference in Austin, Texas, Siu expressed optimism about the near-term…
In A Nutshell The Orbit Chain exploit, which saw $82 million stolen over New Year’s Eve, has taken a significant turn after five months of inactivity. The attacker initiated the movement of $47.7 million worth of Ethereum (ETH) to the cryptocurrency privacy mixer Tornado Cash on June 8. This event marks a significant development in…
In A Nutshell Solana (SOL) is currently experiencing a period of stagnation, with its price movement caught in a narrow range. The appearance of a “death cross” indicates a bearish trend, while the crypto community’s decreasing social volume and engagement suggest waning interest. Despite these challenges, varying sentiments across trading platforms and the potential for…
In A Nutshell The recent developments in the Solana and Ethereum ecosystems have sparked considerable debate within the cryptocurrency community. Solana’s clampdown on Maximal Extractable Value (MEV) strategies by withdrawing support from certain validators has been a contentious move. Meanwhile, Ethereum’s approach to memecoins has also been under scrutiny. This article delves into the contrasting…