Results of the week: Ethereum activated Bellatrix, and Bitcoin recovered to $ 21,000
Bellatrix has activated the Ethereum network, Binance converts some stabblecoins in Busd, the Ethereum Classic hash Roshaite has updated the maximum on the eve of The Merge and other events of the outgoing week.
The bitcoin exchange rate fell below $ 19,000, and then recovered to $ 21,000
On the night of September 7, the quotes of the first cryptocurrency fell to $ 18,500 for the first time since mid -July. Ethereum in the moment traded below $ 1,500.
The very next day, leading cryptocurrencies returned to growth to their previous levels. On September 9, the bitcoin exchange rate exceeded $ 21,000, and Ethereum was $ 1700.
At the time of writing, digital gold is traded near $ 21,700.
A trader under the pseudonym Filbfilb in an interview with Cointelegraph allowed a fall in bitcoin from current levels of up to $ 10,000– $ 11,000. In 2018, he gained fame thanks to the correct forecast of the completion of the bear market.
All digital assets from the TOP-10 on market capitalization closed a week in the green zone. The best dynamics was shown by SOLANA (+15.4%) and Ethereum (+13.9%).
Chainalysis allowed the discrepancy between Ethereum prices and bitcoin after The Merge. Analysts believe that staying will make the second in capitalization cryptocurrency similar to bonds or exchange products and, accordingly, may attract institutional capital.
The total capitalization of the cryptocurrency market was $ 1.1 trillion. Bitcoin dominance index increased to 37.4%.
Ethereum developers activated Bellatrix update
On September 6, the Ethereum team activated the Bellatrix update, according to the previously voiced plan. The upgrade is the last step before the migration of the main network for the Proof-OF-Stake (POS) algorithm. The completion of The Merge is planned for September 15. Earlier, 73% of Ethereum NODs signaled about the readiness for the transition to POS. Because of this, there was a surge of missing blocks.
At the same time, Defi Protokols providing credit services voted for restrictions or a complete stop of Ethereum borrowing, as they are used to obtain potential forkin.
The situation is fraught with other problems – a high borrowing rate prevents liquidation operations. This increases the chances of insolvency of the protocol, and also makes the recursive positions of Steth/ETH unprofitable, enhancing the interchange of the course. This happened in the largest pool of the Curve protocol – the Steth/ETH rate again sank to $ 0.95.
The host of the Uniswap decentralized exchange reported that its protocols would not support any Ethereum forces at the Proof-OF-WORK algorithm after The Merge.
Binance converts USDC, USDP and TUSD on BUSD balance
From September 29, the Binance cryptocurrency exchange will begin to automatically convert USDC, USDP and TUSD stables on users in BUSD in a ratio of 1: 1. The reason is the desire to increase liquidity and capital efficiency for customers.
Almost all the functions and services of the platform will affect the changes – stakeing, spot, futures, Binance Pay, lending, etc.D.
The founder of the Wintermute marketmaker Yevgeny Gaeva saw in the initiative the risk of lowering the market share of USDT and positive for the segment. According to him, such a measure will lead to liquidity in one “stable coin”, and not in different. CEO Circle, USDC, Jeremy Allaire, CEO Circle.
The Heshrait Ethereum Classic has reached a historical maximum
In anticipation of The Merge activation, the Ethereum Classic (ETC) hash. For comparison, the computing power of the Ethereum (ETH) network is 910 Th/S – the indicator is about 19 times higher.
Mining income per hash capacity (hashpris) at Ethereum is also higher – by 95%. However, the upcoming update The Merge favorably affects the ETC course-cryptocurrency showed the best increase among the top 20 assets per week (about 20%).
This week, Etherum Classic was also criticized by the founder of Cardano Charles Hoskinson. The latter called Blockchain a "dead project".
The bear market did not stop the hackers
On September 5, attackers hacked the Twitter account of the audit company PwC Venezuela to promote fake distribution XRP on behalf of CEO Ripple Brad Harlinghaus. Eight hours after the administration’s incident, it was possible to restore access to the page and delete phishing links.
September 7, on the day of the IPhone 14 presentation, unknown launched the broadcast of the old interview with CEO Apple Tim Cook in an attempt to kidnap cryptocurrencies under the guise of their distribution. They also added to the video stream logos of bitcoin and Ethereum and the inscription "Urgent news". In the moment, the number of spectators of the broadcast reached 70,000 people, but the number of real victims of fraud is not called.
On the same day, the Neres Finance Defi Platform based on Avalanche was arbitralized by an arbitration attack using 51 million USDC flash credit. Hacker mining was about 370,000 USDC, counted in Certik.
On September 8, hackers compromised the Instagram account of the metavselnaya The Sandbox and posted in its description a phishing link. The number of victims and stolen assets is not reported.
At the same time, law enforcement officers, with the assistance of the analytical blockchain company Chainalysis, arrested the cryptocurrency stolen during the March hacking of Sidchan in the amount of more than $ 30 million.
What to discuss with friends?
- Fake Bitcoin Ferma on Twitter raised $ 100,000 in a couple of hours.
- CEO BINANCE agreed with Ilona Mask about “90% bots” in the comments Twitter.
- Another miner-lone got a bitcoin block.
- Cryptocurrency was flooded by the queen of Elizabeth II Mem-Tockena.
The next 5000 BTC with MT set in motion.Gox. They were connected with Jed McCaleb
On September 4, the unknown moved another 5000 BTC, which entered the Kraken exchange exchange. The user bought his coins in 2013 at a price of about $ 660 per 1 btc.
Bitcoins are displayed as a result of internal transfers on MT.Gox wallets. A number of facts indicate https://gagarin.news/news/fiction-based-on-the-greater-fool-theory-bill-gates-speaks-about-nf-ts/ that they are most likely belonging to the creator of the exchange Jed McCalebu. Information about the assets belonging to him was indirectly confirmed by the new owner of the platform Mark Karpels.
Bitcoin Pool Poolin recognized liquidity problems
Poolin mining pool was faced with a liquidity deficit, but user funds are safe. Since August, users have been complaining about problems with the withdrawal of funds from wallets on the platform. The support service said that this was due to risk management, and storage and mining services work independently of each other.
Arthur Hayes predicted Ethereum growth to $ 3000 after The Merge
Former CEO Bitcoin-Birzhi Bitmex Arthur Hayes allowed Ethereum quotes to the level of $ 3000 after the transfer of the main network of the second capitalization of cryptocurrency to the POS algorithm.
In his opinion, the reduction in the amount of ETH will be a powerful impulse for the increase in the price of the asset. Another factor in increasing demand for Ethereum Hayes called the development of Defi segment.
Also on FORKLOG:
- Microstrategy will sell shares in the amount of up to $ 500 million. Can be invested in bitcoin.
- Another miner-lone got a bitcoin block.
- Terra Luna Classic price increased by 400% after activating the combustion mechanism of tokens.
- Fake Bitcoin Ferma on Twitter raised $ 100,000 in a couple of hours.
What else to read?
Bitcoin’s domination fell below 40% – to the level of early 2022 and 2018, the Maker community was preoccupied http://coin-graph.website/?p=418 with the threat of DAI provision blocking, the income of Bitcoin and Ethereum miners increased by 12% and 22%, respectively, respectively. Dismantled the main events of August in a monthly report.
Educational cards told what mining, RSI indicator, Stellar blockchain, Sidchans and Soulbound-Tokens.
In traditional digestes, we have collected the main events 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.
