Lưu trữ cho từ khóa: Ethereum

Altcoin

Crypto VC fund-tied entity loses $36m by signing phishing permit transaction: report

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An entity reportedly linked to a cryptocurrency venture capital fund has lost over $35 million in tokens due to a malicious permit transaction.

An unidentified on-chain entity has suffered a staggering loss of wrapped Ethereum (ETH) tokens valued at $36 million after inadvertently signing a malicious transaction.

In an X post on Friday, Oct. 11, blockchain monitoring account Lookonchain reported that the entity, believed to be associated with the crypto venture capital fund Continue Capital, lost 15,079 fwDETH — wrapped ETH tokens on Blast’s chain — due to a “permit” phishing signature. As of press time, Continue Capital made no public statements on the matter.

Following the news, the price of fwDETH plummeted by more than 95% in its trading pair with fwWETH before rebounding to a 40% decline. An X user under the alias @roffett_eth pointed out that the price drop led to “attacks on protocols like PAC Finance and Orbit Finance,” though the extent of these attacks remains unclear. Neither project has commented on the situation as of this writing.

Phishing attacks in the cryptocurrency sector are becoming increasingly sophisticated, often disguised as legitimate requests for user permissions. In this case, the victim appears to have fallen victim to a tactic that exploits user trust in digital signatures, underscoring the persistent risks within the crypto landscape.

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Theo Crypto News

Altcoin

UNI jumps 11% as Uniswap debuts its own layer-2 solution Unichain

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Decentralized exchange Uniswap has entered the layer-2 solution landscape with its new initiative to “accelerate Ethereum’s scaling roadmap.”

Uniswap, one of the largest decentralized exchanges by trading volume, has unveiled Unichain, a new open-source Ethereum-based layer-2 network designed to enhance transaction speed, reduce costs, and improve liquidity across decentralized finance.

In a press release shared with crypto.news on Oct. 10, Uniswap Labs stated that the product, powered by the Optimism Superchain, seeks to address the scalability challenges that have hindered Ethereum’s broader adoption.

“After years of building and scaling defi products, we’ve seen where blockchains need improvement and what’s required to continue advancing Ethereum’s roadmap.”

Hayden Adams, Uniswap Labs CEO

Adams added that Unichain will deliver the speed and cost savings already enabled by other rivals in the layer-2 space “but with better access to liquidity across chains and more decentralization.”

Uniswap to launch Unichain mainnet later in 2024

According to the network’s technical description, Unichain will initially feature one-second block times, with ambitions to optimize to 200-250 milliseconds, although a timeline for this enhancement remains unclear.

Additionally, Unichain aims to focus on cross-chain interoperability, facilitating liquidity access across various layer-2 networks on Optimism and beyond. It also plans to implement the proposed ERC-7683 standard for improved transaction support across all blockchains.

With the private testnet now live and a public mainnet launch on the horizon, it remains uncertain whether Uniswap Labs will introduce a separate token for the network. Following this announcement, the price of (UNI) surged by 11%, reaching $8.05.

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Theo Crypto News

Bitcoin

Spot Bitcoin and Ethereum ETFs experience joint outflow day

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Spot Bitcoin ETFs in the U.S. broke their two-day inflow streak on Oct 8, registering a day of negative flows, while spot Ether ETFs followed suit, logging outflows after a day of stagnation.

According to data from SoSoValue, the 12 spot Bitcoin ETFs saw net outflows totaling $18.66 million, signaling a potential shift in investor sentiment amid a broader market slowdown. This decline comes after these funds collectively attracted an impressive $260.78 million in inflows over the previous two days.

Fidelity’s FBTC and Grayscale’s GBTC lead outflows

Fidelity’s Bitcoin ETF bore the brunt of the outflows, with $48.82 million exiting the fund on Oct. 8. This shift marks a stark contrast from the previous trading day when FBTC posted the highest inflows among all spot Bitcoin ETFs, gaining $103.7 million.

Grayscale’s Bitcoin Trust, another major player in the spot Bitcoin ETF market, added to the negative trend. After a day of no recorded activity, GBTC saw $9.41 million in outflows, continuing its challenging streak. Since its launch, GBTC has experienced $20.15 billion in cumulative outflows, making it a significant contributor to the sector’s overall negative momentum.

Despite the widespread outflows, BlackRock’s IBIT, the largest Bitcoin ETF by assets under management, stood out as the sole ETF to register positive flows on the day. IBIT attracted $39.57 million in inflows, partially offsetting the overall negative trend.

The remaining nine spot Bitcoin ETFs remained neutral, with no recorded inflows or outflows on Oct. 8. However, total trading volume across all Bitcoin ETFs surged to $1.35 billion, a sharp increase from the previous day’s activity. Cumulatively, U.S. spot Bitcoin ETFs have drawn in a net total of $18.72 billion since their inception.

At the time of reporting, Bitcoin (BTC) was trading sideways, hovering at $62,230—a price level that may have contributed to the hesitation among investors to further engage with these funds.

Spot Ethereum ETFs follow Bitcoin’s downtrend

Spot Ethereum ETFs also mirrored Bitcoin’s performance, with outflows recorded across the market. The nine spot Ether ETFs saw net outflows of $8.19 million on Oct. 8, following a day of neutral activity.

Fidelity’s FETH and Bitwise’s ETHW were the most affected, with $3.65 million and $4.54 million in outflows, respectively. The remaining seven Ethereum ETFs reported no significant activity, maintaining zero flows.

In addition to the outflows, trading volume for Ethereum ETFs dropped significantly, falling to $102.37 million from $118.43 million the previous day. The spot Ether ETFs have experienced a cumulative total net outflow of $561.85 million since their introduction, reflecting persistent investor caution in the Ether market.

At the time of publication, Ethereum (ETH) was exchanging hands at $2,434.

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Theo Crypto News

Phân tích

NEIRO surges 15%, further rally could be on the way

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Neiro, an Ethereum-based meme coin, recorded a strong bullish momentum over the past day despite the market-wide turbulence. 

Neiro (NEIRO) has surged 15% in the last 24 hours despite the market witnessing a period of lackluster performance. This uptrend follows a massive 36% gain on Oct. 6, which overshadowed the 9.23% loss NEIRO encountered the previous day.

NEIRO 4H chart – Oct. 8 | Source: crypto.news

The bullish momentum continued with a 24.51% rally on Oct. 7. An additional 2.42% increase this morning helped push NEIRO into the top spot on the gainers list.

NEIRO is up by 15.3% in the past 24 hours and is trading at $0.001678 at the time of writing. Its market cap reached $714 million with a daily trading volume of $1.17 billion.

On the four-hour chart, NEIRO has broken above the Ichimoku Cloud, signaling a potential continuation of its bullish run. Notably, the Ichimoku Cloud indicators show strong support levels amid the upsurge.

The Base Line, currently at $0.001397, is far below NEIRO’s current price, suggesting that the asset has solidified a higher floor. 

Meanwhile, Leading Span A at $0.001495 highlights the cloud’s support level. This confirms the potential for further upward movement if the support holds. If the price consolidates around these levels without falling back into the cloud, the token may see even greater gains.

The RSI, now at 77.55, indicates that NEIRO is in overbought territory. Further, buying pressure remains high, as suggested by the Signal Line at 73.46. While this is bullish, it also signals that a correction could spring up as the token becomes overextended.

Investors should keep an eye out for a potential retracement, especially given the overbought signals on the RSI. A pullback toward the Base Line around $0.001397 could present an opportunity for buyers looking to re-enter the market.

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Theo Crypto News

Altcoin

Trader lost $11m in ETH, total liquidations surpassed $220m

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The crypto market recorded a notable bearish momentum over the past day, bringing increased liquidations.

According to data provided by CoinGecko, the global crypto market capitalization declined by 3% in the past 24 hours — falling from $2.31 trillion to $2.27 trillion. This shows a roughly $40 billion decrease.

The daily trading volume, however, rallied by 50%, reaching $99.5 billion.

Many of the leading cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), saw downshifts. BTC is currently trading at $62,400 and ETH is hovering close to the $2,400 mark.

The market-wide decline brought a $220 million liquidation, per data from Coinglass. Over 69% of the liquidations, worth $153 million, belong to long positions.

Crypto liquidations map – Oct. 8 | Source: Coinglass

Data shows that Bitcoin is leading the chart with $58.6 million in liquidations — $35.1 longs and $23.4 million shorts. Ethereum is hovering close with $50.6 million in liquidated trading positions — $42.8 million longs and $7.8 million short.

Binance alone accounts for $105 million in liquidations, followed by OKX’s $74 million. 

According to Coinglass data, the largest single liquidation, worth $10.97 million in ETH/USDT pair, happened on Binance.

Following the mass liquidations, the total cryptocurrency open interest decreased by 2% and is currently sitting at $60.9 billion.

Usually, a declining open interest brings lower price volatility due to a decreased amount of expected liquidations. 

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Theo Crypto News

Altcoin

Spot Bitcoin ETF inflows surge nine fold, Ethereum ETFs stall

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Spot Bitcoin exchange-traded funds in the U.S. saw a significant jump in net positive flows, while Ethereum spot ETFs saw a complete standstill.

According to data from SoSoValue, the 12 spot Bitcoin ETFs logged inflows of $235.19 million on Oct. 7, a surge of over nine times compared to the $25.59 million inflows recorded the previous trading day.

Fidelity’s FBTC led the charge with $103.68 million in inflows, followed closely by BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, which saw $97.88 million. IBIT had reported zero flows the prior day, making its rebound notable.

Bitwise’s BITB continued its streak with $13.09 million in net inflows over three consecutive days, while Ark and 21Shares’ ARKB added $12.63 million.

Other Bitcoin ETFs also saw inflows, with Bitwise’s BITB logging $13.09 million, extending its three-day streak of net inflows. Ark and 21Shares’ ARKB followed closely with $12.63 million in net inflows, while VanEck’s HODL and Invesco’s BTCO reported more modest inflows of $5.37 million and $2.53 million, respectively.

Meanwhile, Grayscale’s GBTC and the remaining spot BTC ETFs recorded zero net flows on the day.

Total trading volume across the 12 Bitcoin ETFs saw a significant rise to $1.22 billion on Oct. 7 from the prior day’s levels. These funds have collectively attracted a net inflow of $18.73 billion since their inception.

Political and economic factors drive sentiment

The inflows coincided with Bitcoin’s (BTC) price recovery to $63,000, reflecting a 2% rise on Oct. 7 from the previous day. The positive market sentiment followed a brief decline triggered by escalating geopolitical tensions, notably the Iran-Israel conflict.

While these global uncertainties weighed on markets, Bitcoin’s recovery also seems tied to developments in the U.S. political landscape and broader economic trends.

Recent events, including a rally in Butler, Pennsylvania, where former President Donald Trump appeared alongside Elon Musk, may have buoyed optimism among investors. Musk’s endorsement of Trump’s candidacy invigorated political supporters, which some analysts believe spilled over into markets, creating a positive feedback loop for Bitcoin.

This rally, coupled with unexpectedly strong U.S. employment figures, has bolstered confidence in Bitcoin as investors assess the intersection of political, economic, and market trends.

Despite the significant inflows, Bitcoin’s price did not remain steady throughout the day. By the end of reporting on Oct. 8, Bitcoin had dropped 1.8% to $62,332, and the broader cryptocurrency market saw over $218 million in liquidations.

Ethereum ETFs log zero flow day

In contrast to Bitcoin, the spot Ethereum ETFs saw a quiet day. According to SoSoValue data, the nine spot Ethereum ETFs in the U.S. recorded zero inflows on Oct. 7, after registering modest net inflows of $7.39 million on the previous trading day. Trading volume for these ETFs also shrank significantly, dropping to $118.43 million from $148.01 million on the prior day.

Ethereum’s (ETH) price also reflected the broader market downturn, falling 2.9% to $2,417 at the time of reporting, as investors remained cautious despite the surge in Bitcoin-related products.

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Theo Crypto News

Altcoin

Crypto startup Layer secures $6m to solve limitations of smart contracts

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Blockchain infrastructure startup Layer has raised $6 million to create developer tools that support full-stack decentralized applications on Ethereum.

Layer, a blockchain infrastructure startup, has raised $6 million in a seed round led by 1kx, with participation from Fabric Ventures, Arrington Capital, and Stake Capital Group.

In a press release shared with crypto.news, the firm said it plans to use the proceeds to extend the capabilities of Ethereum by creating developer tools that support full-stack decentralized applications using Web Assembly.

Founded by blockchain veterans Sam Cassatt, Jake Hartnell, and Ethan Frey, Layer’s platform is expected to enable developers to build more complex decentralized applications that rely on off-chain computation, addressing the limitations of current smart contracts. The Layer SDK will allow applications to combine blockchain security with off-chain services like AI agents and decentralized messaging servers.

“We wanted to complete the full narrative arc of decentralized architecture, and give the world the tools necessary to build any application, with any performance requirements in this trust-minimized way.”

Sam Cassatt, co-founder of Layer

Layer gains angel backing to develop full-stack Ethereum SDK

The funding round also saw backing from angel investors, including Sreeram Kannan of EigenLayer, Mike Silagadze of Ether.fi, and former BlackRock executive Paul Taylor. The team says their upcoming product, known as the “Layer SDK,” will allow developers to build new layers on top of Ethereum that run full-stack blockchain-based applications consisting of smart contracts, consensus mechanisms, UI, and verifiable off-chain services.

The funding comes as concerns grow over hidden vulnerabilities in smart contracts, with bad actors increasingly exploiting them to lure victims. In late September, analysts at blockchain firm Trugard Labs identified over 34,000 high-risk vulnerabilities in smart contracts rolled out on Base during August. Hidden balance updates and minting manipulations were also detected across Ethereum and BNB Chain (formerly Binance Smart Chain, BSC), though in smaller numbers.

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Theo Crypto News

Altcoin

Ethereum’s Buterin dumps 10b MOODENG tokens, donates $640k to his charity fund

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Vitalik Buterin appears to have sold 10 billion MOODENG tokens and donated over $640,000 worth of crypto to his biotech charity fund.

Ethereum co-founder Vitalik Buterin has sold 10 billion (MOODENG) tokens, donating the proceeds to his biotech fund Kanro, while advocating for memecoins to maximize positive impact through charitable contributions.

According to on-chain data from blockchain analytics firm Lookonchain, the sale brought in 308.69 ETH, worth about $762,000, of which Buterin donated 260.16 ETH (around $642,000) to his biotech fund Kanro.

Following the trade, Buterin addressed the sale on X, expressing support for memecoins that contribute to charitable causes. He mentioned that any tokens sent to him are donated to charity, including the MOODENG tokens, which he allocated to anti-airborne disease technology.

“I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!”

Vitalik Buterin

MOODENG tanks 20% following Buterin’s sale

Despite Buterin’s clarification, the sale caused concern among crypto holders, triggering a 20% drop in MOODENG’s price to $0.10.

Co-founded by Buterin, Kanro directs resources to pandemic solutions, particularly in low-income countries, with a focus on open-source or IP-free projects. In November 2023, Kanro gifted $15 million to the PolyBio Research Foundation to focus research and clinical trials on SARS-CoV-2.

MOODENG, a memecoin launched on Solana through Pump.fun, was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand. The token has quickly gained traction, amassing over 18,000 holders and surpassing a $100 million market cap, with $145 million in 24-hour trading volume.

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Theo Crypto News

Altcoin

Giko Cat, inSure DeFi and Sudeng coins exhibit double-digit gains as Solana struggles

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Giko Cat, Sudeng and inSure DeFi emerged as the top gainers in the last 24 hours with a double-digit surge.

CoinGecko data shows that while top coins like Ethereum (ETH) and Solana (SOL) are recovering with a 1-3% surge after the recent dump, some meme coins pulled off double-digit gains.

Cat-themed meme coin Giko Cat (GIKO) is up by 52% in the last 24 hours. It is the largest gainer as per CoinGecko’s top gainers list during this period.

The coin has a market cap of $63 million. GIKO’s surge can be attributed to the popularity of cat-inspired meme coins, which is led by Popcat (POPCAT).

GIKO is up by over 280% in the last seven days and up 2,100% in the last 30 days. This notable surge happened amidst the highly volatile market conditions.

Source: CoinGecko

InSure DeFi pumps 40%

InSure DeFi (SURE) is second on the list as the top gainer with its 40% surge. Trading at $0.003166, the coin has surged from its seven-day low of $0.00203.

Even though its 24-hour pump is commendable, the meme coin is down by over 35% in the last 30 days.

Source: CoinGecko

Unlike GIKO, InSure DeFi is not a meme coin and is part of a crypto and RWA portfolio insurance ecosystem.

However, the exact reason for the surge of InSure is not clear as there haven’t been any notable development announcements in the last 24 hours.

Sudeng bags the third position

Sudeng (HIPPO) is another spin-off token inspired by the Moo Deng hippopotamus. According to CoinGecko, HIPPO is the third-largest gainer in the last 24 hours.

Source: CoinGecko

Amid the not-so-bullish market conditions, this meme coin has managed to surge by over 36%. HIPPO has gained investor attention as analysts are shilling the coin all over X.

With the meme coin now standing at a $169 million market cap, analysts speculate that $200 million could be next.

However, the meme coins can quickly reverse course and wipe off all the gains in just a day.

Moo Deng (MOODENG) is a prime example, as the meme coin lost over 40% in the last seven days after a notable surge.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News