Rich Dad Poor Dad’s Robert Kiyosaki Warns Hyperinflation, Depression Are Here – Featured Bitcoin News

Rich Dad Poor Dad’s Robert Kiyosaki Warns Hyperinflation, Depression Are Here – Featured Bitcoin News
[ad_1]

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that hyperinflation and depression are here. He also warned that the biggest bubble burst is coming, advising investors to buy gold, silver, and bitcoin.

Robert Kiyosaki’s Latest Warnings

The author of Rich Dad Poor Dad, Robert Kiyosaki, gave a series of warnings regarding the U.S. economy Friday.

Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

Kiyosaki tweeted that a Wile E. Coyote moment and the biggest bubble burst are coming. Claiming that hyperinflation and depression are here, the famous author recommends buying gold, silver, and bitcoin “before the coyote wakes up.”

Rich Dad Poor Dad's Robert Kiyosaki Warns Hyperinflation and Depression Are Here

The author of Rich Dad Poor Dad opined that baby boomers’ retirements will be “stolen” and that the $10 trillion in fake money spending is ending. He called the U.S. government, Wall Street, and the Federal Reserve thieves.

Moreover, Kiyosaki tweeted early this month: “Repo market inversion. Last time this happened was 2008 … In 2008 I borrowed $300 million to buy great real estate, at bargain prices. Time to get rich coming again. Time to get smart, not greedy.” Emphasizing that weak businesses and greedy investors will fail, the famous author wrote:

Be careful. Recession and crash coming.

A growing number of economists and forecasters are now saying that a recession is on the horizon for the U.S. economy as the Federal Reserve continues to fight the highest inflation in more than 40 years.

JPMorgan Chase CEO Jamie Dimon, for example, said this week that the risk of the Federal Reserve tipping the U.S. economy into recession is rising. Former Treasury Secretary Larry Summers also said a recession is “the most likely” outcome for the U.S. economy, not a soft landing.

In October last year, Jack Dorsey, the CEO of Block Inc. and former CEO of Twitter Inc., predicted that hyperinflation will soon happen in the U.S. and the world. Recently, Mexico’s third-richest billionaire, Ricardo Salinas Pliego, also warned about severe dollar inflation. He recommended buying bitcoin.

In addition, Kiyosaki has warned about a massive crash many times. Predicting a “giant stock market crash” in October, he noted that after the crash, the U.S. will slide into a new depression. He further warned that we are in the biggest bubble in world history.

Last month, the Rich Dad Poor Dad author said the U.S. dollar is about to implode, recommending investors buy more gold, silver, bitcoin, ethereum, and solana. He emphasized that the world is in trouble and the U.S. national debt is going through the roof.

In the same month, Kiyosaki warned that the government will seize all cryptocurrencies. Nonetheless, he predicted the end of the U.S. dollar, noting that the Russia-Ukraine war is giving rise to crypto as a safer haven than the government’s “fake fiat money.”

Tags in this story
Buy Bitcoin, Depression, gold, Hyperinflation, inflation, robert kiyosaki, robert kiyosaki bitcoin, robert kiyosaki crypto, robert kiyosaki cryptocurrency, Robert kiyosaki production, Robert Kiyosaki Solana, silver

What do you think about Robert Kiyosaki’s warnings? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

Alleged Hydra Administrator Dmitry Pavlov Reportedly Arrested In Russia – Bitcoin News

Alleged Hydra Administrator Dmitry Pavlov Reportedly Arrested In Russia – Bitcoin News
[ad_1]

A district court in Moscow has arrested a man whom local media reports identify as Dmitry Pavlov, alleged administrator of the recently shut down darknet market Hydra. Russian authorities believe he has been involved in drug-related crime punishable by up to 20 years in prison.

Moscow Court Arrests Russian Believed to Be Hydra Administrator

Meshchansky District Court of Moscow has taken into custody a certain Dmitry Olegovich Pavlov accused of production, sale, and distribution of drugs under Russia’s Criminal Code, the “Moscow” City News Agency reported this week, quoting the court’s press service.

Pavlov, who was arrested on Monday, April 11, has the same names as a 30-year-old Russian citizen and resident charged for similar offenses in relation to his alleged role as an administrator of the recently busted Hydra Market, one of the largest marketplaces on the darknet.

Earlier this month, German law enforcement seized Hydra’s server infrastructure in the country and took down the Russian-language platform’s website. The operation was carried with support from several U.S. agencies.

On April 5, the U.S. Department of Justice announced criminal charges against Dmitry Pavlov for conspiracy to distribute narcotics and conspiracy to commit money laundering. According to an indictment filed with the U.S. District Court for the Northern District of California, the Russian is also accused of administering and providing hosting services to Hydra.

The Russian business daily Kommersant quoted Pavlov telling the BBC on April 6 he had not been contacted by U.S. authorities and that he learned about the charges from the media. He also insisted his company had all the necessary licenses from Roskomnadzor, Russia’s communications watchdog, and was not administering any websites but only leasing servers as an intermediary.

The United States has been alleging the Russian Federation’s involvement with crypto-related criminal organizations, including darknet markets (DNMs) and ransomware actors. In September, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Russia-based crypto broker Suex, believed to have received more than $20 million from DNMs like Hydra.

The department also imposed sanctions on Hydra itself — which had been active since at least 2015 and had around 17 million customers before it was shut down — and on a cryptocurrency exchange called Garantex, suspected of processing over $2.6 million in transactions from the darknet market platform.

Tags in this story
administrator, Arrest, Court, Crypto, Cryptocurrencies, Cryptocurrency, darknet, darknet market, detention, Hydra, Hydra Market, Marketplace, Moscow, operator, Russia, russian, Russian Federation

Do you expect other arrests in Russia in connection with the Hydra case? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

NBA Launches Initiative Dedicated to Web3, Metaverse, and NFT Collectibles – Bitcoin News

NBA Launches Initiative Dedicated to Web3, Metaverse, and NFT Collectibles – Bitcoin News
[ad_1]

This week, the National Basketball Association (NBA) announced the launch of its own non-fungible token (NFT) initiative called “NBAxNFT.” According to the professional basketball league, the goal is to showcase “all things intersecting basketball and Web3, including NFTs, gaming, and the metaverse.”

Professional Basketball and Web3 Collide

  • Following the popular collection NBA Top Shot and the upcoming Golden State Warriors 2022 Playoff responsive NFT collection, the NBA has started NBAxNFT, which currently consists of a Twitter account and Discord channel.
  • NBAxNFT is being called the “official Web3 home for the NBA,” and the project aims to combine all things basketball with NFTs, gaming, metaverse, and Web3 ideas.
  • “Thanks to all who have followed,” the initiative’s official Twitter account explains. “If you’re new here, we’re excited to use this space to share all things NBA basketball and Web3. Looking forward to engaging with our community and partners like NBA Top Shot.”
  • In terms of all-time sales of NFT collections, the Dapper Labs’ NBA Top Shot NFT collection holds the ninth position, in terms of all-time sales volume. To date, NBA Top Shot has seen an aggregate of 16,006,548 sales which equates to $885.6 million since the NFT’s inception.
  • The recently launched Discord channel has more than 35,000 members at the time of writing and according to the NBA, 2022 Playoff NFTs will be released this weekend.
  • “We’re showcasing all things intersecting basketball and web3, including NFTs, gaming, and the metaverse,” the NBAxNFT Twitter account detailed when it first launched the Web3 initiative.
  • Four days ago, the NBA’s Golden State Warriors announced the launch of a 2022 Playoff responsive NFT collection.
  • At press time, it has not been disclosed by the NBA whether or not Dapper Labs or the Flow blockchain will be involved, despite mentioning the company in a tweet about partners. Discussions stemming from the NBA’s Discord channel hint at the upcoming NFT drop being issued on Ethereum.
Tags in this story
Dapper Labs, Digital Collectibles, Ethereum, Ethereum (ETH), Flow blockchain, Golden State Warriors, Metaverse, NBA, NBA Metaverse, NBA NFT, NBA Top Shot, NBA Web3, NBA’s Discord channel, NBAxNFT, nft, NFTs, NFTs and NBA, Non-fungible Token, Playoffs, Professional Basketball, Web3

What do you think about the NBA jumping into creating a space for Web3, NFT, and metaverse content? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

The Security Risks of THORChain (RUNE)

The Security Risks of THORChain (RUNE)
[ad_1]

According to THORChain’s treasury report for Q1 2022 released on April 1, the chain registered a growth in revenue despite the twofold impact of persistent market sluggishness and highly unstable geopolitical factors. Public data shows that THORChain recorded $2.17 billion in revenue in Q1 2022. THORChain, acclaimed as the “cross-chain version of UniSwap”, gained a foothold in the cross-chain trading market relying on its unique advantages and earned extensive recognition among investors.

Behind all these glamours, THORChain is also deeply troubled by hacking. The chain suffered frequent security breaches since it was launched on Ethereum, a fact that casts doubt on its security. On April 11, THORChain tweeted about phishing attacks, warning users not to interact with [DeTHOR] or other unknown tokens within their wallets, which once again raised concerns about its security issues.

While building a sound security system for CoinEx products, the CoinEx security team also keeps track of security incidents in the blockchain space to help users better understand the security of different projects from the perspective of technical security and mitigate the investment risk. Aiming to improve the security criteria for the blockchain sector, the CoinEx security team has analyzed the security risks of THORChain (RUNE). The team hopes that THORChain could note and mitigate the following risks by optimizing the relevant smart contract codes. In addition, this article is also a warning for users, reminding them to be more aware of asset security and avoid asset losses.

How secure is THORChain (RUNE)?

Through analysis of the contract code and logic of THORChain (RUNE), the CoinEx security team has found the following risks:

To begin with, let’s check out the contract code of THORChain (RUNE):

We can tell that RUNE is a pretty standard ERC-20 token. It should be noted that apart from the ERC-20 interface, THORChain (RUNE) offers an additional interface:

According to transferTo (as shown in the picture above), THORChain (RUNE) uses tx.origin, which is one of the causes behind its security risks. Here, we should explain the difference between tx.origin and msg.sender:

The below picture describes what happens when a regular address calls the smart contract:

In such cases, msg.sender = account.address, and tx.origin = account.address, which means that msg.sender is just the same as tx.origin.

The following is what happens when an account calls contract A, and contract A calls contract B:

When contract A calls contract B (as shown above), we can tell that msg.sender equals tx.origin in contract A.

However, in contract B, msg.sender = contractA.address, while tx.origin = account.address. Therefore, tx.origin is like a global variable that traverses the entire call stack and returns the address of the account that originally sent the transaction. This is the key issue: to date, almost all known attacks against THORChain (RUNE) relate to tx.origin.

Let’s now find out how attackers steal users’ RUNE tokens through tx.origin:

Attack No.1: Pilfer a Goat from a Herd

Addresses on Ethereum are divided into external addresses and contract addresses. Transferring ETH to these two types of addresses through external addresses is fundamentally different. The Official Documentation of solidity states that a contract address must implement a receive Ether function before making transfers.

In light of the features of tx.origin, hackers may build an Attack contract:

When the Attack contract receives an ETH transfer from a user, it will “pilfer a goat from a herd” — the contract will steal the user’s RUNE tokens in the process.

Attack No.2: Internal Attack

An Internal Attack is a special type of attack. When trying to steal a user’s RUNE through an Internal Attack, the hacker needs to have a medium token. Moreover, the token must also call third-party contracts. According to the transfer records of RUNE on Ethereum, some attackers hacked RUNE through AMP Token transfers.

AMP Token uses the ERC-1820 standard to manage Hook registration and examine whether Hook is registered upon each transfer. If Hook has been registered, then the Hook will be called.

The contract code of AMP Token shows that the final implementation of the transfer is: _transferByPartition. Meanwhile, there are two calls involving transferHook: _callPreTransferHooks (before the transfer) and _callPostTransferHooks (after the transfer). In particular, _callPreTransferHooks is for the from address, while _callPostTransferHooks is for the to address (i.e. the receiving address).

For regular users, stealing tokens from themselves is pointless. Therefore, attackers may exploit _callPostTransferHooks. Let’s now check out the codes of _callPostTransferHooks.

IAmpTokensRecipient(recipientImplementation).tokensReceived()

We can tell that the only callback that attackers could exploit is IAmpTokensRecipient(recipientImplementation).tokensReceived()

Next, we will illustrate how this call can be used to transfer a user’s RUNE while making an AMP Token transfer.

Step 1: A call contract is needed (as shown below):

Step 2: Deploy the contract to obtain the Attack Address.

Step 3: Call the ERC-1820 contract interface (setInterfaceImplementer) to register the interface.

ERC-1820 Address: 0x1820a4B7618BdE71Dce8cdc73aAB6C95905faD24

Contract interface: setInterfaceImplementer(address toAddr, bytes32 interfaceHash, address implementer)

In particular, toAddr is the receiving address of the AMP transfer,

interfaceHash为AmpTokensRecipient的hash:

0xfa352d6368bbc643bcf9d528ffaba5dd3e826137bc42f935045c6c227bd4c72a

interfaceHash is the hash of AmpTokensRecipient:

0xfa352d6368bbc643bcf9d528ffaba5dd3e826137bc42f935045c6c227bd4c72a

Implementer is the Attack Address obtained in Step 2.

Step 4: Lure a user to transfer AMP to the toAddr to trigger a callback, and steal his RUNE at the same time.

Attack No.3: Phishing Attack

As its name suggests, in a phishing attack, the attacker promises to give away incredible benefits to lure users into performing certain contract operations. Here, we will introduce a common phishing attack.

Step 1: The attacker issues an ERC-20 token, and may write it into any contract interface that involves signatures.

Step 2: Create a trading pair on Uniswap or any other swap;

Step 3: Offer airdrops to all users/addresses who hold RUNE tokens;

The initial work of the phishing attack is basically completed through the above these steps. Next, the attacker only has to wait for users to trade on a swap, and users risk losing their RUNE once they perform operations such as approve, transfer, etc.

In addition, in order to further verify the security risk of THORChain contract code, CoinEx has discussed with the security team from SlowMist and PeckShield, two well-known security agencies in the industry. Confirmed by SlowMist and PeckShield, the security risk mentioned above does exist.

So far, we have covered several types of attacks, as well as the security risks that users are exposed to.

How should the project team optimize the contract code to make itself more secure and protect users’ assets?

The only answer is to be cautious about using tx.origin.

How can regular users mitigate risks and protect their assets in the face of attacks that seem unavoidable? The CoinEx security team offers the following suggestions:

  1. For Attack No.1: When making a transfer, keep track of the estimated Gas consumption. For a regular ETH transfer, a Gas fee of 21,000 is more than enough. Be careful if the Gas consumption far exceeds that figure.
  2. For Attack No.2: Isolate your tokens by adopting different wallets. You can store different tokens in different addresses. Extra caution is needed when it comes to the hot wallet address offered by exchanges.
  3. For Attack No.3: Greed is the source of all evil. Do not blindly participate in any airdrop event.

Security has always been a top concern in the blockchain sector. All players, including project teams and exchanges, should prioritize security during project operation, keep users’ assets safe and secure, and jointly promote the sound growth of the blockchain industry.

[ad_2]

Source link

ETH Mixer Tornado Cash Reveals Blocking OFAC Sanctioned Ethereum Addresses via Chainalysis Oracle Contract – Bitcoin News

ETH Mixer Tornado Cash Reveals Blocking OFAC Sanctioned Ethereum Addresses via Chainalysis Oracle Contract – Bitcoin News
[ad_1]

According to the project’s official Twitter account, Tornado Cash, the ethereum mixing service that allows participants to shuffle ether, is blocking flagged ethereum addresses listed on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals And Blocked Persons list (SDN). The decision follows the recent OFAC update, that lists the Ronin exploiter’s ethereum address, and further notes that the ether wallet is allegedly associated with the infamous North Korean hackers, Lazarus Group.

Ethereum Mixer Tornado Cash Blocks OFAC Sanctioned Addresses

Tornado Cash announced on April 15, 2022, that the project is leveraging a Chainalysis oracle to block OFAC sanctioned wallets. “Tornado Cash uses [a] Chainalysis oracle contract to block OFAC sanctioned addresses from accessing the dapp,” the official Twitter account said on Friday. “Maintaining financial privacy is essential to preserving our freedom, however, it should not come at the cost of non-compliance,” the Tornado Cash Twitter account added.

The decision comes after the U.S. Treasury and OFAC published an update concerning the Ronin bridge hacker’s ethereum wallet. The ethereum address that was used by the Ronin bridge exploiter is now sanctioned and U.S.-based companies and citizens are banned from transacting with the address. According to the OFAC update, the address is associated with the North Korean hacking organization known as Lazarus Group. Following the decision, Tornado Cash got a lot of criticism for the move.

“So let me get this straight,” one individual tweeted, “if my address is on the OFAC sanctioned addresses list, I just need to transfer it to another address and then I can begin my money laundering.”

The news also follows the controversy surrounding the claims that the blockchain surveillance and intelligence company, Chainalysis, deanonymized Wasabi-based Coinjoin transactions. After the deanonymizing claims, Wasabi told the public a blacklist would prevent some UTXOs (unspent transaction outputs) from registering to Coinjoin transfers. The founder and creator of Wasabi wallet, Adam Ficsor, told the public: “Blacklisting arrived to Coinjoins. IMO it is a major setback to Bitcoin’s fungibility.”

Meanwhile, the changes Tornado Cash added may be bypassed by not only simply switching to other ether addresses, but also by leveraging the contract without using the Tornado Cash protocol’s frontend. “Don’t worry guys, your favorite hackers will still be able to wash the money they have stolen from you using the smart contract directly,” one individual replied to the Tornado Cash Twitter statement. “This just affects the website frontend, contract is permissionless.”

Tags in this story
Adam Ficsor, Chainalysis, Chainalysis oracle contract, Compliance, dApps, ethereum addresses, Lazarus Group, NK Hackers, north korean hackers, North Korean hacking organization, OFAC sanctioned, permissionless, Ronin Bridge, Ronin Hack, sdn list, Tornado cash, Tornado Cash team, Wasabi Wallet, Web3 Dapps

What do you think about the statements the Tornado Cash team made on Friday about blocking OFAC sanctioned ethereum addresses? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

Benefits of Centralized vs Decentralized Exchanges

Benefits of Centralized vs Decentralized Exchanges
[ad_1]

Buying or selling cryptocurrencies usually starts with exchanges or, in other words, digital marketplaces where most crypto trading happens. For example, Binance, a leading centralized exchange (CEX), handles over $24.27 billion in daily volumes. Similarly, UniSwap is the world’s largest decentralized exchange (DEX) with over $7.25 billion in Total Value Locked (TVL).

While centralized exchanges now hold market dominance, decentralized exchanges are providing strong competition with rising volumes. And, although both CEXs and DEXs facilitate crypto-transactions, they differ greatly in terms of security, cost, and transparency. In fact, both CEXs and DEXs have their own set of advantages that make them unique, as discussed in this article.

Centralized Exchanges

CEXs often go against the spirit of blockchain technology, but th+ey also offer a few major advantages, including the following:

Liquidity

Centralized exchanges keep enough assets on hand to allow quick deposits and withdrawals. Thus, anyone wanting to exchange, say, their BTC for USD, is able to do so instantly on a CEX. Liquidity is in fact a CEX’s trump card, which is why they invest a lot into supplying consumers with high-speed transactions with minimal slippage.

Blockfinex, for example, offers a highly secure and robust exchange with deep liquidity for more than 500 crypto assets.

Regulation

Most CEXs seek operating permissions in several countries, demonstrating their stability and competence to financial regulators. They also follow investor protection measures and issue risk alerts to clients regarding the non-reversible nature of transactions. This builds trust among consumers, allowing them to use the platform with confidence.

Easy-to-Use

CEXs usually offer user-friendly interfaces, which makes trading crypto very simple at any time. They also allow users to set trades in seconds since custody and orders are all centralized, making them a go-to place for big trades.

Blockfinex is one such exchange that offers an easy-to-use interface for trading crypto. The platform allows traders to buy/sell with huge volumes without slippage and in just a few clicks.

Decentralized Exchanges

Operating DEXs is like turning on the advanced settings in an app. They work in an open-source, trustless, and permissionless manner, providing users full transparency over their funds.

And, they also bring some of the best benefits to the table including:

Privacy

DEXs do not usually seek sensitive information while onboarding. In other words, DEXs do not implement procedures like KYC (Know-Your-Customer). Everything from wallets to transactions is anonymous, which ensures utmost privacy.

Self-Custody of Assets

The rule of thumb in DeFi is this—not your keys, not your crypto. DEXs adhere to this principle and are non-custodial, enabling users to exercise self-custody. In simple terms, DEX users retain control over their private keys, and thereby enjoy genuine ownership of their assets.

Lower Transaction Fees

Decentralized Exchanges eliminate the need for involving middlemen, resulting in cheaper transactions overall. Most DEXs currently run on Ethereum which leads to high gas fees at times.

However, blockchains are rapidly innovating solutions to ensure negligible fees for end-users. For example, a transaction worth $100,000 costs only a few dollars on Polygon Network.

What to Choose?

It is entirely up to the user to choose which exchange to use according to their needs and demands. CEXs are ideal for those who are primarily seeking convenience and are not comfortable with self-custody. And, platforms like Blockfinex are the best bet that provide maximum convenience when trading crypto. However, DEXs may be the way to go if you are all for privacy and ownership of your funds.

On that note, both CEXs and DEXs have their share of benefits and it would be naive to call one better than the other. They fulfill different purposes and are thus relevant to users under different circumstances. And together, they facilitate the broader blockchain-cryptocurrency domain, boosting adoption in the process.

 

[ad_2]

Source link

OHM, TIME, KLIMA Down More Than 98% From All-Time Highs – Defi Bitcoin News

OHM, TIME, KLIMA Down More Than 98% From All-Time Highs – Defi Bitcoin News
[ad_1]

About four months ago, four of the top rebase tokens by market valuation were worth close to $8 billion in USD value and today, the entire lot of rebase tokens collectively are valued at $1.14 billion. The largest rebase crypto by market capitalization, olympus (OHM), had a $4.3 billion market valuation last November, but after shedding 98.1% in USD value, OHM’s market capitalization is now $438 million.

Over $7 Billion Exited the Rebase Token Economy During the Last Four Months

During the first week of November, Bitcoin.com News reported on the olympus (OHM) rebase token and how the algorithmic reserve-backed crypto asset worked. Three weeks later, OHM’s overall market capitalization tapped an all-time high (ATH) at $4.35 billion on November 23. OHM already recorded an all-time price high months earlier in April, when it reached a high of $1,415 per coin on the 25th. Since that day, olympus (OHM) has shed 98.1% in value against the U.S. dollar.

Rebase Token Carnage: OHM, TIME, KLIMA Down More Than 98% From All-Time Highs
OHM/USDT two-hour chart on April 16, 2022.

OHM sparked a slew of Olympus forks and the Avalanche-based reserve currency protocol called wonderland (TIME) saw its market capitalization jump over $2 billion three days before OHM’s market cap ATH. While TIME’s market cap reached an ATH on November 21, the asset itself saw a price high on November 7, 2021, when it tapped $10,063 per unit five months ago. Since November 7, TIME has lost 98.8% in value against the U.S. dollar. The rebase token redacted cartel (BTRFLY) has dropped 93.6% in value and klima dao (KLIMA) is down 99.5%.

At one time, the aggregate market capitalizations of OHM, TIME, BTRFLY, and KLIMA was around $7.885 billion and today, the dozens upon dozens of rebase coins are worth $1.14 billion. In more recent times, a slew of rebase tokens saw double-digit gains, in terms of two-week standings. 14-day data shows the rebase coins midasdao (CROWN), dollars (USDX), spartacus (SPA), euphoria (WAGMI), and templedao (TEMPLE) have seen prices gain by double digits against the U.S. dollar.

While OHM is 98.1% lower than it was in November, there’s still around $5.3 million in global trading volume and $24.71 million total value locked (TVL) in terms of staking. Wonderland users are staking $638.76 million today, but TIME has only seen $630,447 in 24-hour global trade volume. TVL metrics, and the aggregate global trade volume for rebase tokens, in general, have also dropped considerably over the last four months.

Tags in this story
algorithmic rebase coins, Avalanche-based, BTRFLY, decentralized finance, DeFi, KLIMA, klima dao, midasdao (CROWN), OHM, Olympus, Olympus DAO development, rebase, rebase coins, rebase economy, rebase tokens, redacted cartel, reserve-backed crypto asset, staking, templedao (TEMPLE), Time, TVL

What do you think about the market performance of rebase tokens like olympus, wonderland, redacted cartel, and klimadao over the last four months? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

WAVES, GMT, and EOS Among Big Gainers on Easter Weekend – Market Updates Bitcoin News

WAVES, GMT, and EOS Among Big Gainers on Easter Weekend – Market Updates Bitcoin News
[ad_1]

Following recent declines in price, WAVES climbed higher to start the weekend, as crypto markets moved marginally higher. Some of the biggest contributors to the gains were EOS and GMT, which both rose by over 6%.

EOS rose for a second consecutive session to start the weekend, as prices raced to their highest level in over ten days.

After trading at a low of $2.34 on Friday, EOS/USD raced to an intraday peak of $2.52 during Saturday’s session.

This is the most EOS has hit since April 7, and comes after prices moved away from the long-term support level to start the week.

Biggest Movers: WAVES, GMT, and EOS Among Big Gainers on Easter Weekend
EOS/USD – Daily Chart

As seen from the chart, this floor was at the $2.20 point, which prices hit following two weeks of declines, which commenced at a top of $3.17.

Since this drop, which also saw the 14-day RSI hit a multi-month low of 36.34, price strength has climbed, and now hovers below a ceiling of 52.

Should this resistance point be broken, we could see bulls look to push price towards the $2.65 level.

WAVES

WAVES was also up on Saturday, as traders appear to have finally found a floor, following a recent bearish run.

Similar to EOS, prices of WAVES have been battling a red wave since March 29, which is when the recent bear run in crypto markets began.

This run has seen WAVES drop to a bottom of $20 on Thursday, which is its lowest point in over five weeks, and an area where bulls typically re-enter.

Biggest Movers: WAVES, GMT, and EOS Among Big Gainers on Easter Weekend
WAVES/USD – Daily Chart

As of writing, WAVE/USD has risen to a high of $22.89 in today’s session, after beginning the day tracking closer to the $20.57 level.

Looking at the chart, the 14-day RSI has shown us that price strength has been consolidating for the past few days, as it sits at the floor of 35.70.

This is the lowest level the RSI has tracked at since February, and with prices being undoubtedly oversold, bulls may look at this as an opportunity to buy recent dips.

Is the current $20 level in WAVES the true price floor, or could we see this support broken? Let us know your thoughts in the comments.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

Argentinians Are Now Using P2P Markets to Multiply Their Savings – Bitcoin News

Argentinians Are Now Using P2P Markets to Multiply Their Savings – Bitcoin News
[ad_1]

Argentinians are now discovering that P2P (peer-to-peer) markets can be used to maintain or multiply their savings in crypto and foreign currency. According to local media sources, more and more Argentinians are using P2P exchanges and markets to apply arbitrage and earn money being P2P cashiers. Maximiliano Hinz, Latam operations director of Binance, states that their P2P business has grown 40% in just the last month.

Argentinians Rush to P2P Market Boom

Argentinians are discovering the way in which liquidity providers in P2P markets earn great amounts of money by arbitraging between different markets. According to reports from local media, this course of action might quintuple the savings of some investors monthly, depending on the availability of some payment methods and the ability of the P2P cashier.

These human exchangers can purchase crypto in cheap markets and then sell them in other international markets where the demand (and prices) are more interesting. However, this is not a given, as P2P cashiers need to manage different payment methods and accounts to give interesting options to their customers and score big spreads across different exchanges.

In Argentina, there are several exchanges that manage P2P markets, meaning that these act as platforms to pair users wishing to exchange cryptocurrencies for fiat currencies. These include Binance, Paxful, Airtm, Okex, and Localbitcoins, amongst others.


Growth and Earnings

Different companies have confirmed the growth reported by local sources. Maximiliano Hinz, Latam operations director of Binance, stated:

The growth has been quite organic. Due to the nature of the business, we can say that our active users grew by 40% last month.

Renata Rodríguez, marketing manager for Paxful Latam, stated in the same vein that new user registrations in Argentina increased more than 110% in the last year.

Other companies have not offered precise numbers, but have declared they have also detected a sharp increase in the activity of P2P markets. This is the case with Alex Vázquez, P2P operations manager of Okex, who stated:

We detected a marked rebound, in particular, from last month.

Also, these traders must have different payment methods to take advantage of the new spreads available depending on the markets involved. Local sources state that uncommon payment methods, including Payoneer and Paypal, might yield higher earnings when compared to others. This is because they are used by freelancers in the country seeking to obtain fiat and cryptocurrency paying with these platforms.

Amazon gift cards can often be purchased with a discount rate of 25%, to be later sold at face value in other markets. However, volatility in crypto markets is a real concern for P2P cashiers, that prefer to trade stablecoins such as USDT and others.

What do you think about the rise of P2P markets in Argentina? Tell us in the comments section below.

sergio@bitcoin.com'
Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link

BTC, ETH Prices Mainly Unchanged to Start the Weekend – Market Updates Bitcoin News

BTC, ETH Prices Mainly Unchanged to Start the Weekend – Market Updates Bitcoin News
[ad_1]

Prices of ETH and BTC were mainly unchanged to start the weekend, as market activity slowed, mainly due to the Easter holiday. Price consolidation comes after a week of bearish pressure that sent the world’s two largest cryptocurrencies towards key support levels.

Bitcoin

Bitcoin was once again trading marginally above the $40,000 level on Saturday, as markets remained quiet as a result of the Easter break.

BTC/USD rose to an intraday peak of $40,618.84 to start the weekend, following a low of $40,009.09 earlier in the session.

Recent price consolidation comes following a two-week streak which saw bitcoin lose close to $10,000 from its value.

BTC/USD – Daily Chart

Typically, following a bullish or bearish trend within a relatively short span of time, markets will consolidate, as they prepare for either an extension of the initial move, or a change of direction.

Looking at the chart, the 14-day RSI continues to track below a key resistance level at 44, which seems to be the main hurdle preventing a resurgence of BTC bulls.

If recent sentiment continues, we may see some further declines back towards $39,600 prior to any upcoming extended gains.

Ethereum

ETH was also mainly unmoved during Saturday’s session, as the world’s second-largest cryptocurrency was tracking close to its price support.

Following an earlier low of $3,001.12, ETH/USD only marginally rose, hitting a peak of $3,046.20 as of writing.

This peak is around 0.49% higher than yesterday’s low, and sees price once again fail to make any significant gains following losses during the week.

ETH/USD – Daily Chart

Since the beginning of the year, the price of ETH traded close to this $3,000 support level on four occasions, with bulls typically pushing prices higher.

On the occasions when price has traded around current level, we typically see no more than two days of consolidation, prior to a rally.

As of writing, prices are currently seeing the second day of consolidation, which could potentially tempt bulls to look at entries on Sunday.

Could we see history repeat itself this weekend, to the benefit of ETH bulls? Leave your thoughts in the comments below.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));

[ad_2]

Source link