Defi Community Members Aim to Sue Yearn Finance Creator Andre Cronje and Fork YFI

Members of the decentralized finance (defi) community are upset with Yearn Finance founder Andre Cronje over the mishap with Cronje’s secret Eminence (EMN) project. The Eminence protocol gathered $15 million before the project was ultimately hacked before the official launch. According to a recent blog post published on Medium, a group of defi community members plan to sue Yearn Finance founder, Andre Cronje, and fork YFI as well. As news.Bitcoin.com recently reported, there’s been a lack of trust in Cronje’s work since an undercover project that didn’t even launch was…

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Top traders go long after Bitcoin price rallies to key $11.5K resistance

On Oct. 7 Cointelegraph reported that top crypto traders had kept a bearish stance since mid-September and at the time the Bitcoin (BTC) long-to-short ratio had reached its lowest level in 10 weeks. All of this changed in a matter of hours as soon as BTC broke through the $11,000 resistance. Whenever Bitcoin’s volatility gets too low, it usually signals that traders became too complacent. Naturally, there will be periods of range trading, but short-term unpredictability is Bitcoin’s defining characteristic. For pro traders, implied volatility is commonly known as a…

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Bitcoin rallies, McAfee compares prison to Hilton, digital yuan airdrop

Coming every Sunday, Hodler’s Digest tracks every important crypto news story from the previous week. Essential reading for all Hodlers!   Top Stories This Week   $12,000 Bitcoin price back on the table after BTC rallies above $11,400 At last. Bitcoin rallied to $11,448 on Friday, finally breaking above the symmetrical triangle where the price had been compressing for the past 30 days. Earlier in the week, BTC had dropped to $10,528 when Donald Trump suggested negotiations on a second stimulus package wouldn’t happen until after the election. But there…

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$12M in ‘Satoshi Era’ Bitcoins Move: 21 Block Rewards from 2010 Spent After a Decade of Slumber

On early Sunday morning around 1:38:02 a.m. (New York time), approximately 20 blocks with coinbase rewards from 2010 were spent in one block. 1,000 BTC was then consolidated into a single address before moving again. The massive movement of the decade-old ‘sleeping’ bitcoins was caught by an onchain transaction parser and the coins were spent in block 652,204. ** Update, approximately 9.99999943 BTC or $114k worth of the 1,050 bitcoins from 2010 were sent to the Free Software Foundation. Miner Spends 21 Blocks from 2010 Following the Same Pattern That…

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NFT and crypto art can magnify the truth of our reality without censorship

Earlier this month, Christie’s auction house announced the sale of a digital portrait of the Bitcoin code for more than $130,000 when the first estimated price was $12,000–$18,000. It was the first time a nonfungible token was auctioned at one of the major auction houses for traditional art. One of the last events, Bridge to Metaverse, presented by Snark.art, showed tokenized artworks by both established and emerging contemporary artists. A group exhibition brought leading artists of our time — the Kabakovs, Kendell Geers, AES+F, Recycle Group and others — to…

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Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%

The latest data from Coingecko shows that the combined trading volumes of cryptocurrency exchanges went up by $155 billion between July and September, from $175.7 billion to $330.6 billion. The new total volume represents a 88% increase which Coingecko attributes to the decentralized finance (defi) hype and yield farming frenzy that peaked in August. In the report, Coingecko also observes that from the start of Q3, traded volumes on decentralized exchanges (dexs) grew much faster than those of centralized exchanges (cexs). For instance, in Q3, “the monthly average dex trading…

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Ethereum miners made 450K ETH from high network fees during DeFi peak

Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees.  Miners took home 450,089 ETH in fees ($168.7 million) and this represents a 39% increase over last month in which miners made roughly $113 million in fees. During the same period, Bitcoin miner revenue from fees not only paled in comparison but actually decreased. BTC miners…

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