Nomad token bridge suffered an exploit on August 1 that allowed several people to drain the bridge of $190.7 million. The first sign of trouble began at about 9:23 pm UTC after a hacker exploited the bridge to withdraw 100 WBTCs worth $2.3 million. Several others copied the code of the first suspicious transaction and changed the address to...
Though caught up in the web of the prevailing crypto bear market, Celsius adversely impacted the situation. The crypto lending platform has been struggling to break loose from the effect of insolvency. It suspended customers' withdrawal from the platform to survive the storm. Also, it had previously hired some lawyers from Akin Gump Strauss Hauer & Feld LLP. However, Celsius seems to be...
Celsius (CEL), a struggling cryptocurrency lending platform, has paid off 20 million USDC debt to decentralized finance (DeFi) protocol Aave (AAVE). Recall that Celsius paused withdrawals last month to protect itself from potential bankruptcy stemming from the broader cryptocurrency downturn and the drastic increase in user withdrawals.
The cryptocurrency industry is worried that the transfer of the wBTC might result in the dump of more than $500 million worth of Bitcoin. Concerns have been raised by some in the community regarding the possibility of a dump when troubled loan provider Celsius transferred nearly 25,000 Wrapped Bitcoin (wBTC) valued at $528.9 million to […] The post...
There are now many options to bridge Bitcoin for use on various blockchain networks. However, some have distinct benefits over others. In this article, we will explore the differences between Bitcoin bridges. Bridging Bitcoin provides a way to bring the asset to decentralized finance (DeFi). Native Bitcoin cannot be used in DeFi protocols, so it needs to be bridged, wrapped, or tokenized. Furthermore,...
The world’s largest cryptocurrency, Bitcoin (BTC) is finally showing some recovery from the recent dump. BTC prices have registered a marginal increase of around 1% in the last 7 days. Meanwhile, Bitcoin’s Ethereum (ETH) spin off Wrapped Bitcoin (WBTC) registered a huge spike in its trading volume. ETH whale "Saruman" adds $25 mln worth of...
On-chain analysis is an important part of the bitcoin ecosystem. It helps to show activity on the network and can give a good indication of how investors are feeling about the digital asset. In the early days, on-chain analysis commanded a lot of respect in the space. However, there have been various things that have muddied the waters that are on-chain analysis. These...
Following Kraken’s listings of Akash (AKT), Badger DAO (BADGER), Band Protocol (BAND), Cartesi (CTSI), Covalent (CQT), Energy Web Token (EWT), Aavegotchi (GHST), Injective Protocol (INJ), Mango (MNGO), Star Atlas DAO (POLIS), Rarible (RARI), Ren (REN), Saber (SBR), Serum (SRM), Wrapped BTC (WBTC) and 0x (ZRX)… The post...
Some major Bitcoin traders appear to be turning to DeFi to maintain returns on their investment, whale trading data showed on Monday. Wrapped Bitcoin (WBTC), an Ethereum-based variant of Bitcoin (BTC) used to invest in DeFi platforms, saw volumes spike as the crypto market sank. The world’s largest crypto, Bitcoin (BTC) is down by over...
Kraken is supporting four new assets: Badger DAO (BADGER), Cartesi (CTSI), Loopring (LRC) and Wrapped Bitcoin (WBTC). Deposits for all four assets are available starting now Trading will begin on August 3 at approximately 15:30 UTC for all assets Note: Trading is not available to… The post BADGER, CTSI, LRC and WBTC Trading...
Despite the wild price swings in March 2020, Bitcoin closed the year very well-above its 2017 all-time high. In December 2020, the Bitcoin price jumped by 66.1%. Impressively, the astounding bitcoin price rally turned unstoppable after 17 December 2020, and bitcoin price crossed $34k. All in all, cryptocurrencies benefited from a diverse set of cryptonews in 2020. It started with the pandemic triggered...
Let's say you're a longtime Bitcoiner with some BTC laying around that you'd be willing to experiment with. 'If that sounds like you, then maybe you've also heard about Ethereum's rising decentralized finance ecosystem and how you can put your BTC to work in DeFi in various ways, though you don't know where to start. [...] The post WBTC: Top Things You Can...
One of the biggest focuses of this past year in DeFi has been the rapid rise of Wrapped Bitcoin, tBTC, and other projects that allow investors to deposit their BTC in exchange for an Ethereum-based token representing a claim on that Bitcoin. While previously seen as a novelty only used by KYC-ed users looking for a faster way to transact Bitcoin, it is...
The decentralized finance (DeFi) ecosystem has garnered the attention of investors worldwide. According to reports, Ethereum currently houses the highest number of decentralized finance (DeFi) protocols available today. This includes the highly-successful Uniswap DeFi protocol. For users to gain access to these protocols, they need to first own ERC20 tokens. The total number of Bitcoin locked up in DeFi protocols recently reached an...
BitGo, the institutional digital asset and custodial platform, has adopted oracle network Chainlink (LINK) for cross-chain auditing of wrapped Bitcoin (WBTC). Over the last year, BitGo has bridged over $1 billion on...
Lightning Network that was launched with the hope of enabling instant payments and scaling Bitcoin to handle millions to billion of transactions per second across the network. However, currently the Lightning...
Crypto.com recently announced that Wrapped Bitcoin (WBTC) is now available on DeFi Swap. The development was also revealed via a Twitter announcement from Crypto.com. Wrapped Bitcoin (...
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