DeFi News Official TheBitTimes.com

Join Our Telegram channel to stay up to date on breaking news coverage Solana SOL’s live price today is $22.53, with a 3.67% drop in the past 24 hours. After the drop to $10.15 at the end of 2022, SOL began to rally again, trading at $11.37 on January 2, 2023. The asset currently ranks number 11 on CoinMarketCap ’s crypto market list. Irrespective of fluctuations, the digital asset maintained its value in the market. The technical Analysis for this token will reveal its price performance and current trend. Solana Price Action Solana started the year modestly, trading at $9.98 on January 1, 2023. It increased to $11.27 on January 2 and traded at $24.25 on January 14, 2023. This price action confirmed that the asset was moving in an uptrend on the price chart.  However, February 2023 came with price fluctuations, with Solana struggling to break above the $25 price. Despite its current price slump, it is expected to rally again and gain more price momentum as t...

OpenAI’s ChatGPT, an artificial intelligence [AI] chatbot has been taking the world by storm. ChatGPT managed to garner over 100 million users in just two months of its launch. Additionally, it has more than 13 million daily visitors. Thanks to this, it soon became one of the fastest-growing consumer applications. After highlighting the perils of AI, Elon Musk seems to be inclined toward creating a ChatGPT rival. According to a recent report by the Information, Musk had contacted AI researchers. This is being done with the intention of creating a new research facility that will be used to develop ChatGPT alternatives. JUST IN: Elon Musk reportedly recruiting team to develop OpenAI ChatGPT rival. — Watcher.Guru (@WatcherGuru) February 28, 2023 Furthermore, Musk currently has eyes on Igor Babuschkin. This researcher recently departed from Alphabet’s DeepMind AI unit. In the report, which quoted Babuschkin in an interview, Musk, and Babuschkin have talk...

One of the biggest Dogecoin whales transferred a massive chunk of DOGE during the early hours of Feb. 26th. The whale moved nearly 191 million Dogecoin s from a decentralized platform to the leading cryptocurrency exchange Binance. The transfer was initiated in a single transaction, and the coins transferred are worth $15.5 million. The whale is among the top 20 biggest holders of Dogecoin in existence. The transfer comes a day after another whale moved 359 million Dogecoins in three different transactions on Feb. 24th. You can read more details about the whale transfer here. Also Read: Dogecoin: What Could Doge Price Be In 2030? Source: dogechain.info Despite the large transfers, its price has remained sideways, with no sudden spikes in the indices. Dogecoin has barely shot up in price this year and went from $0.06 to $0.08 since the start of January 2023. Its performance is meager compared to the other cryptocurrencies that rallied hard in 2023. Several cryptocurrencies...

The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries have failed to implement its previous requirements on crypto, including the “travel rule.” Countries Agree to Implement FATF Crypto Standards The Financial Action Task Force (FATF), an intergovernmental organization established to combat money laundering and the financing of terrorism, announced Friday the outcome of its plenary which took place on Feb. 22-24. “Delegates from over 200 jurisdictions of the Global Network participated” in a number of discussions at its headquarters in Paris, the FATF said. A number of issues, including those relating to crypto assets, were discussed, the FATF noted, elaborating: Delegates further agreed on an action plan to drive timely global implementation of FATF standards relating t...

Feb 24, 2023 at 07:20 // Price Author Coin Idol The cryptocurrencies listed below share common characteristics this week as altcoins rally after a prolonged period of consolidation at the bottom of the chart. The cryptocurrency market is still in an uptrend after a recovery from the overbought area. We will discuss some of these digital currencies. Stacks Stacks (STX) is recovering above the $0.30 support and is currently trading in the uptrend zone. The value of the cryptocurrency asset has risen to $0.88. The resistance point for the altcoin is at $0....

The Massachusetts-based man is alleged to have stolen nearly $18,000 worth of electricity to run 11 miners in a school’s crawl space. A former facilities worker who allegedly set up a secret cryptocurrency mining operation inside a Massachusetts school’s crawl space is due for arrest after missing a scheduled court hearing to answer to charges.  Nadeam Nahas was scheduled to be arraigned on Feb. 23 facing charges of vandalizing a school and fraudulent use of electricity, according to media reports. JUST IN: an ex-town employee is accused of running a "Cryptocurrency mining operation" out of Cohasset High School. pic.twitter.com/cdBlMIxnnH — whalechart (@WhaleChart) February 24, 2023 A default warrant is a type if warrant issued by courts when a person fails to appear in court or comply with an order, and authorizes law enforcement officers to arrest the person. Nahas, who is said to have previously worked in the facilities department for the town of Cohasset, Massachu...

Bitcoin can see its market cap increase 500 times over, Jesse Myers believes, thanks to its inherent scarcity and other traits. Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth , new Analysis has concluded. In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target. Myers: "Bitcoin could 500x over the coming decades" Bitcoin may struggle with “brutal” volatility, but hodlers and critics alike should be in no doubt about its long-term price trajectory, Myers says. Analyzing Bitcoin’s value proposition, he argues that Bitcoin’s ability to appreciate over time means that it is all but destined to suck in value from other asset classes. Among other reasons, this is because an asset with such appreciation characteristics and increasing scarcity allows it to fulfill the role of “digital gold.” “Bitcoin has an unthinkable property: it gets more valuable over time. Gol...

JPMorgan recently released a research report on Tuesday, in which the financial giant addressed Coinbase’s Q4 adjusted loss per share. COIN’s loss per share of $2.46 is less than the anticipated $2.85 loss per share by JPMorgan , as per the report. The report also highlighted that the EPS of $2.46 is higher than Bloomberg’s estimate of $2.17 per share. “Coinbase is well positioned to deliver notable year-on-year improvement in EBITDA at current expense levels with the marked improvement in overall crypto volumes in 2023 thus far combined with somewhat better than anticipated costs cutting going into 1Q23,”  said analysts. Also read: Scam ChatGPT Tokens Hit the Crypto Market — What You Need To Know Source: Coinbase JPMorgan raises Coinbase price target to $57 The price target set by JPMorgan Chase analysts for Coinbase (COIN) shares for the fiscal year ending in December had dropped from $60 to $52. The American multinational financial institut...

Eight days ago, Paxos announced that the company would no longer mint the stablecoin BUSD. Since then, the coin’s market capitalization has been sliding lower as redemptions have become more prominent. Meanwhile, a data researcher from Nansen has discovered that Binance, the largest cryptocurrency exchange by trade volume, has increased its usd coin holdings by $1.5 billion over the last seven days. Nansen Researcher Discovers Binance Stacking Circle’s Stablecoin According to Nansen’s data journalist Martin Lee, the amount of usd coin (USDC) held on Binance has been steadily climbing this week. “Interesting to see the amount of USDC on Binance increase so much since the BUSD news,” Lee tweeted on Tuesday. Lee further detailed that Binance saw a $1.5 billion increase in USDC in the last seven days. He also noted that he would have expected the supply of tether (USDT) to increase on Binance more than USDC, “given that you can’t trade usi...

BTC price action once again slips while trying to overcome $25,000 resistance as the rejections keep coming. Bitcoin (BTC) matched six-month highs on Feb. 21 as the latest attempt to flip $25,000 to support ended in failure. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin unsettled before Wall Street open Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,250 on Bitstamp. A firm rejection on hourly timeframes then saw the pair return below $24,750, maintaining a trading range in place throughout the weekend. With Wall Street on holiday on Feb. 20, Bitcoin faced three days of “out-of-hours” trading featuring thinner liquidity and more risk of volatile moves both up and down. These to some extent came to pass, with efforts to beat the prior week’s highs being short lived and resulting in liquidations of both long and short traders, data from Coinglass confirms. BTC liquidations chart. Source: Coinglass Monitoring resource Material Indicato...

Since Ethereum switched to proof-of-stake, a Nansen in December noticed that demand for Ether staking solutions had increased. Staking technique for liquids According to its current ranking among other decentralized finance (DeFi) protocols, Lido Finance looks to have profited the most from the September Ethereum merger. In comparison to MakerDAO’s $5.89 billion and AAVE’s $3.7 billion in TVL, Lido’s liquid staking protocol currently commands $5.9 billion in TVL, according to statistics from DeFiLlama. As of January 2, $5.8 billion worth of ether was staked, according to the Lido Finance website. Around $23.2 million was bet on Solana, $43.9 million on Polygon, $11 million on Polkadot, and $2.2 million on Kusama KSM at the same time. Lido now has the highest TVL of any DeFi protocol. pic.twitter.com/2xsM3lVGVl — Patrick | Dynamo DeFi (@Dynamo_Patrick) January 1, 2023 Users may access liquid Ether staking using Lido’s technique...

Texture, a DeFi yield platform, has secured $5 million in a round headed by P2P Capital and Sino Global, and is currently in private beta. Wintermute, Semantic Ventures, and Jane Street Capital are the other investors in this round. The money were raised using the stablecoin USDC, and the value was kept confidential. Texture is a blockchain-based DeFi platform powered by the Solana blockchain. Its initial offering offers larger returns to SOL token holders who invest them. It employs a leveraged staking approach, similar to tokens on Ethereum such as the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index, to accomplish this (ETHMAXY). “We are excited to bring automated leveraged staking to Solana through a one-click solution. This is a fundamentally DeFi-native product that appeals to users who value higher real yield as much as transparent on-chain execution and risk management,” said Texture Co-founder Oleg Ravnushkin. For individua...

The increasing popularity of Bitcoin NFTs, or Ordinals, will impact posively the security of the Bitcoin network and attract developers to the ecosystem, according to Ordinals proponent Udi Wertheimer. Bitcoin (BTC) NFTs will have a positive impact on Bitcoin ecosystem by improving its security and incentivizing developers to build on the network, according to independent developer Udi Wertheimer.  The number of newly created Ordinals, also referred to as "inscriptions", have been spiking in recent weeks, causing a surge in transaction Fees and average block size on the Bitcoin block chain.  According to Wertheimer, Bitcoin NFTs are going to be beneficial for Bitcoin's security budget: by driving up transaction fees, the creation of Ordinals will incentivize miners to secure the network while the revenue from mining reward will be decreasing with each Bitcoin halving. “Because the block space is scarce and because there's demand for stuff like inscriptions, there...

NFT marketplace Blur surpassed OpenSea in daily ETH trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor. Major nonfungible token (NFT) Marketplace OpenSea announced a massive structuring around lower platform Fees and greater creator earnings as competing marketplaces continue to drain away its once dominant user base. On Feb. 18, NFT marketplace Blur surpassed OpenSea in daily Ethereum (ETH) trading volume as users — anticipating greater returns on their NFT investments — are looking for a trading arena that works in their favor, shows Nansen data. Daily trading volume of major NFT marketplaces. Source: Nansen As a reactionary measure, OpenSea announced three major changes to win back its migrating customers. The measures include a 0% fee for a limited time, introducing optional creator earnings and leniency on other operators. We’re making some big changes today: 1) OpenSea fee → 0% for a limited...

The Avalanche -based (AVAX) DeFi protocol, Platypus, has been exploited for around $8.5 million in a flash loan attack. The hack caused the Platypus USD (USP) stablecoin to de-peg, dropping from $1 to $0.47, a drop of around 52%. Source: CoinGecko Subsequently, the Avalanche -based (AVAX) protocol acknowledged the breach on Twitter, while a moderator of Platypus’ Telegram channel confirmed that the company has stopped trading. Moreover, the firm has confirmed the $8.5 million loss. Dear Community, We regret to inform you that our protocol was hacked recently, and the attacker took advantage of a flaw in our USP solvency check mechanism. They used a flashloan to exploit a logic error in the USP solvency check mechanism in the contract holding the collateral. — Platypus 🔺 (🦆+🦦+🦫) (@Platypusdefi) February 17, 2023 Platypus confirmed an $8.5 million loss from its primary pool. Moreover, the firm said that deposits are cove...

Bankrupt cryptocurrency brokerage firm Voyager sent 250 billion Shiba Inu tokens to Coinbase on Wednesday, reported blockchain security firm PeckShield. Data from Etherscan shows that the SHIB transfer to Coinbase from Voyager took place at 3:09 pm EST on Feb. 15th. This isn’t the only transfer that Voyager initiated on Wednesday. The bankrupt firm transferred $28.7 million worth of cryptocurrencies to Coinbase and another transfer to Binance.US simultaneously. The transfers include 15,000 ETH worth $25.3 million to Binance.US, and another 5,000 ETH to Coinbase worth $8.4 million. Also Read: Shiba Inu: These Bullish Factors Could Take SHIB to $1 #PeckShieldAlert Voyager has transferred $28.7M worth of cryptos to crypto-exchanges, including 15k $ETH ($25.3M) to BinanceUS & Coinbase ($ETH at $1,675) & 250B $SHIB ($3.4M) to Coinbase Voyager received 105k $ETH ($ETH at $1,559 on the day of transfer) from FTX on 7th Sep. 2022 https://t.co/WiFFMRgQr0 pic.twitter.c...