Ethereum price was the worst hit in Monday’s flash crash. The collapse caused the asset’s price to fall below $2,200 for the first time last week, at which point it continues to trend lower. As the market shows some recovery momentum, questions remain about what may have triggered the crash. Ethereum price falls due to whale selling One of the most obvious causes of the flash crash that affected the price of Ethereum was the fact that large holders sold. This month, ETH hit its highest level of last year, which led to many investors taking profits again. Since there…
Author: Crypto Flexs
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zkSync has announced that Pudgy Penguins will launch Pudgy World in Alpha Q1, Q1 2024. ZkSync will lead the launch and the title will be accessible to two classes of participants: NFT holders of Pudgy Penguins and owners of Pudgy Toys. Pudgy World was defined as an immersive title open to multiplayer with new business models and opportunities to expand interactivity in the digital realm. Pudgy World and zkSync have partnered to achieve the common goal of onboarding at scale, building the future power of Web3, and shaping the future of gaming. Ethereum and Polygon share the vision of bringing…
The Bank of Russia has provided an update on the future of its digital ruble pilot, Russia’s central bank digital currency (CBDC). The bank’s press service said the trials will continue throughout 2024 and until mass usage of the digital ruble is expected to occur in 2025. The Digital Ruble pilot will run indefinitely until launch. The Bank of Russia has updated the public on the future of the Digital Ruble Pilot, Russia’s central bank digital currency (CBDC). The agency said the pilot project will continue until at least the end of 2024 and until the currency’s final massification and…
Recent findings from Graphika, a company specializing in social network research, have revealed a troubling trend. That said, the use of artificial intelligence (AI), which can digitally undress people in photos, with a primary focus on women, is advancing exponentially. In the month of September alone, this phenomenon, also known as “Nudify” or “Undressing” services, reported that more than 24 million users engaged with these platforms, raising serious concerns about privacy and safety. These platforms can use powerful artificial intelligence algorithms to replace clothing in photos with nudes, making gender-based digital harassment even worse. In this way, the act of…
Bitcoin (BTC) begins an important week in the macro markets, with the weekly close leading to a sharp 7% BTC price correction.The largest cryptocurrency collapsed towards $40,000 amid fresh volatility, reaching its lowest level in a week.Arguably, Bitcoin’s long-delayed return to testing support surprised the nonetheless bullish laggards, liquidating nearly $100 million in long positions.This sharp move provides a rude awakening for BTC investors at the start of a week that already has numerous potential volatility triggers. This comes in the form of US macro data coming just before the Fed’s next interest rate policy decision.A surge of numbers in…
The cryptocurrency market was a sea of red this Monday morning, with Bitcoin falling 5% in an hour or so and altcoins suffering major losses. Moreover, liquidations have reached hundreds of millions in the past few hours. A cryptocurrency market correction is underway, with millions of liquidations occurring during the Asian trading session on Monday morning. Cryptocurrency leverage flushout According to Coinglass, in the last 12 hours, cryptocurrency liquidations reached $354 million. The majority were long positions with a liquidation amount of approximately $313 million. Additionally, as Coinglass reports, 117,770 traders were liquidated, with a total liquidation volume in the…
In an era when financial knowledge is desperately needed, Cash App took a ‘new’ step by launching ‘BREAD’, a free zine that combines financial education and culture. Aptly titled “Bitcoin Issues,” the inaugural issue promises to reshape public perception and understanding of the world and culture of Bitcoin. With a strong team of influential artists and writers, including Allison Davis, Richard Turley, and Daisuke, BREAD aims to make money more relatable and accessible to a diverse audience. At the heart of BREAD’s mission is a commitment to transform the often intimidating world of finance and Bitcoin into a realm that…
The Protocol Support team is organizing a grant round to support upcoming projects. Ethereum KZG Awards Ceremony. The KZG event is a coordinated public ceremony that will provide a cryptographic foundation for Ethereum expansion plans such as: EIP-4844. Learn more about the awards ceremony and participate in a test version. event.ethereum.org. If you would like to be funded for a deeper level of contribution, there are two ways to qualify. Write your own implementationSubmit entropy generated through non-traditional sources or unique processes → Apply by January 31st Or learn more below. Write your own implementation The best way to avoid…
Tether, the world’s largest stablecoin issuer, announced a voluntary freeze policy for individuals subject to OFAC sanctions, stepping up its efforts to cooperate with law enforcement. Tether said this voluntary measure is designed to prevent misuse of Tether’s USDT and strengthen its security measures. Tether’s Voluntary Freeze Policy Tether announced the news of its voluntary freeze policy in a blog post on December 9th. The company has begun offering secondary market controls to freeze wallets and wallet activity linked to sanctioned individuals on the U.S. Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list. All companies and individuals…
Vulnerability discovered The National Vulnerability Database (NVD), a comprehensive cybersecurity resource, recently flagged serious security risks associated with Bitcoin Core and Bitcoin Notes. Specifically, this vulnerability, categorized as CVE-2023-50428, affects Bitcoin Core up to 26.0 and Bitcoin Knots versions prior to 25.1.knots20231115. This issue focuses on the ability to circumvent data carrier size limitations by disguising data as code. This is the method adopted by the Inscriptions group, especially in 2022 and 2023. Impact and Abuse This vulnerability has real-world implications for the Bitcoin network. By allowing data carrier limitations to be bypassed, the network can be flooded with non-transactional…