Category Archive : Altcoin News

Italian Man Caught Using Airport Computer System for Illegal ETH Mining

Italian Man Caught Using Airport Computer System for Illegal ETH Mining

An Italian airport staff member took advantage of his workplace computer systems illegal mining of Ethereum (ETH).

According to Rai News report, a man who was in charge of managing the computer system at Lamezia Terme International Airport in the southwest region of Calabria was caught illegally mining Ethereum (ETH). Moreover, the authorities caught the culprit through security footage cam.

Ethereum is the second biggest cryptocurrency in the market. It is a blockchain-based open-source, decentralized software platform. According to CoinGecko, Ether price is at $384, with a 24-hour trading volume of $13.73 billion, at the time of writing.

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ETH Price Chart (Source: TradingView)

ETH Price Chart (Source: TradingView)

The miner was employed by Sacal SpA, the firm that is responsible for maintaining the Lamezia airport. The report states that he exploited the computer infrastructure of Sacal SpA by infecting it with crypto-mining malware. On noticing some issues in the system, other Sacal workers informed border police.

The investigation involves both police officers and airport officials. In addition, there were five Ethereum mining rigs in two separate control rooms. Moreover, the analysis of IP addresses associated with the equipment helped to find the mining pool.

Report said,

The investigations, coordinated by the Lamezia Terme Public Prosecutor’s Office, were conducted with technical activities that made it possible to examine the IP addresses associated with the machines installed, to identify the site of the ‘Ethermine’ pool (used for ‘mining’ of the Ethereum cryptocurrency) and monitor the site.

Recently, 100 smuggled cryptocurrency miners were seized by authorities in Abkhazia earlier this week. As reported by U.Today, earlier this month a Hungarian politician also initiated controversy after being busted for stealing electricity from his office to mine Bitcoin.

 

Australian First Crypto-friendly IPO Firm Will Accept Tether

Australian First Crypto-friendly IPO Firm Will Accept Tether

Stax, an Australian crypto-friendly capital raising platform announced that West Coast Aquaculture (WCA) will conduct its first Initial Public Offering (IPO).

WCA is a company that operates an aquaculture farm in Australia. It will allow investors to participate in its IPO purchase equity using the cryptocurrency Tether (USDT) or Australian Dollars. However, STAX chose Tether (USDT) over Bitcoin (BTC) and Ether (ETH) because of the stability of USDT. 

In addition, STAX only supports Tether. STAX CEO Kenny Lee mentioned that they are planning to add support for more stablecoins in the future. 

Kenny said, 

The acceptance of USDT in an IPO is a transformative move in Australia and a significant step forward for cryptocurrency adoption in general. It paves the way for the future of capital markets down under.

Moreover, WCA mainly produces fresh Grouper fish for retailers and wholesalers in Singapore, Hong Kong, and Malaysia. Purportedly, the firm intends to utilize the funds raised through the IPO for expansions. Among its expansion, it plans to purchase new hatchery and nursery facilities.

WCA is offering between 10 and 14 million shares, representing nearly 8.7% and 11.8% of the total shares. The firm is selling each share at £0.38, planning to reach a minimum target of £3.84 million. 

After the IPO, WCA allegedly intends for its shares to float on the Sydney Stock Exchange (SSX). As per the group’s plans, share trading is set to begin on November 19, 2020. SSX chief executive Michael Go praised Stax for facilitating a capital raise supporting USDT.

Go said,

This is a first, and historic development in the Australian market which will dictate the future of capital raising, particularly for growth companies.

Furthermore, in the first week of August, SSX had delivered its first listing. Mr. Go said the listing of junior gold miner Torque Metals was the first under the exchange’s new plan that was unveiled in December last year. He promised that SSX would list more firms before the year ends amid plenty of challenges presented in 2020.

In early May, STAX  helped beverage company Australian Product Research,  raise over $5 million to fund its expansion of its everlast branded products in the Australian market.

 

Harvest Finance Puts $100K Bounty After $24M Attack, FARM Token Crashes

Harvest Finance Puts $100K Bounty After $24M Attack, FARM Token Crashes

A decentralized finance protocol Harvest Finance seemingly issued a $100,000 bounty reportedly after a $24 million attack from its pool.

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Harvest Finance is a DeFi yield aggregator. FARM is its native cryptocurrency. It has one admin key for making changes to the smart contract. Essentially, the holder of this key can perform a variety of changes, from strategies to orchestrating a rug pull. 

Over $25 million in value has been exhausted from Harvest Finance pools. And swapped for renBTC (rBTC) by an unknown attacker. However, according to CoinGecko, FARM’s price is at $101 with a 24-hour trading volume of over $20 million, at the time of writing. 

Moreover, TVL of the aggregator has dipped from $1 billion to 400 million, as per DeFiPulse. Accordingly, with the profitable returns of over 200% on FARM tokens, communication on Discord and Twitter have managed to keep most users. 

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DeFi projects like yEarn, SushiSwap, Serum, and others have entrusted their multisig keys to DeFi and crypto community leaders. Moreover, Investment in these projects requires thorough understanding of the smart contracts that run these applications. In addition, prominent influencers have signaled their approval. This should by no means be reason to invest in a project.

 

Famed Japanese Soccer Player Keisuke Launches KSK Honda Coin

Famed Japanese Soccer Player Keisuke Launches KSK Honda Coin

KSK Honda Coin was launched by soccer star Keisuke Honda through a blockchain platform Rally.io to allow fans with coins to interact with Honda.

Rally.io is a blockchain platform for creators building businesses and provides engagement between creators and the fans. Creators can issue their own cryptocurrency on this platform. Moreover, Keisuke Honda is a former Japan midfielder and presently a captain of the Brazilian professional league team Botafogo. 

Keisuke said,

I decided to create my social token to build new connections with my most loyal fans…This is a new type of innovative ‘fan club’ that I will be experimenting with. With Rally so that my fans can benefit and be connected anywhere in the world.

KSK Honda coin holders will be able to get videos that Honda updates. In addition, interaction with Honda through Discord’s private chat. Honda explained on Youtube that “We decided to create a social token to build new connections with our most loyal fans.” 

Recently, Zenit St. Petersburg, a top soccer club in Russia’s Premier League signed on to the blockchain-based gaming platform Sorare. To issue collectible and tradeable digital cards on October 15. 

Through the crypto trading platform StormGain, Italian professional sports club SS Lazio signed a multiyear deal, enabling new fan engagement options through crypto in September 2020. However,  the world-wide soccer community is moving deeper into the crypto and blockchain space. In search of new ways of connecting stars with their fans.

DASH Partners With StakeHound Enabling DeFi Users to Earn Rewards

DASH Partners With StakeHound Enabling DeFi Users to Earn Rewards

StakeHound collaborates with DASH NEXT and Dash Core Group, allows Dash holders to access decentralized finance (DeFi) applications while earning staking rewards.

Newly launched StakedDASH has become a bridge between DASH and Ethereum DeFi ecosystems. It allows DASH holders to generate further yield. Through DeFi applications whereas at the same time continue receiving stable staking rewards. 

DASH NEXT Co-Founder Felix Mago said,

With DeFi, different Blockchains are finally coming together. I am very excited about this partnership as it provides DASH users the benefits of DeFi applications. Such as lending or borrowing, and Ethereum users with an easy way to use DASH’s established global payment ecosystem.

StakedDASH is tradable in major DeFi platforms like UniSwap, Curve, Aave, and others, using the Radix or Ethereum networks. They can also be converted into the original Dash tokens at any point.

In the meantime, the DASH tokens held by StakeHound will be conducted in a Dash masternode. And earn the standard rate of network rewards, which is issued to users as additional stakedDASH.

This enables Dash holders to gain the profit of network staking, but without needing to lock up the 1,000 DASH required to create their own masternode. The amount required to stake through StakeHound is a minimum of 1 DASH, at the time of writing worth $68.8.

Founder and CEO of StakeHound Albert Castellana have mentioned his intention, and dedication to explore DeFi capabilities to build and integrate DeFi on Dash Platform after the upcoming launch of mainnet.

Decentralized Finance (DeFi) market cap slides 25% in a Day

Decentralized Finance (DeFi) market cap slides 25% in a Day

The decentralized finance (DeFi) assets have continued to fall by 25.1% while volumes shrunk 30% in the last 24 hours alone according to data from Santiment.

Santiment estimated that daily DeFi token trade volumes have dropped by 30% combined. However recent market leaders Sushi (SUSHI), Yearn Finance (YFI) and Uniswap (UNI) are among the hardest hit. With weekly losses of 51%, 31% and 38% respectively.

The report reads,

“The crypto market has been engulfed in a sea of red this week, with most DeFi blue chips recording double digit losses over the past 7 days.”

However noting that crypto-Twitter has already emphatically explained the death of the whole DeFi project. Santiment claims to have identified whale accumulation activity taking place around several DeFi assets including Synthetix (SNX).

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Santiment also mentioned that the combined price of DeFi assets. At the time they last moved on the MVRV blockchain has decreased. To an all-time low, “indicating undervaluation” at current price levels.

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More like Bitcoin peaked to $20,000 in a rapid climb in 2017 on a speculative aspect, the coin then fell and faced a bearish market for more than 18 months. The same may happen with DeFi. It could drop down to a low point, but then rise up again in a sustainable manner. 

 

Ethereum (ETH) Price Started Sharp Decline Towards $310

Ethereum (ETH) Price Started Sharp Decline Towards $310

Key Takeaways:

  • Ethereum (ETH) reached near the $370 resistance and dropped sharply.
  • ETH technical indicators and high trend-line.
  • Ethereum price prediction in 2021.

 

Ethereum (ETH) reached near the $370 resistance and dropped sharply towards $350 showing bearish signs and it might continue to drop down.

ETH might be somewhat less popular than Bitcoin. Unfortunately, this hasn’t stopped the second biggest cryptocurrency in the world from gaining a few profits over Bitcoin. However, according to Coingecko, ETH price is $346.6 at the time of writing. 

Ethereum (ETH) Price Analysis (Sept 28 to Oct 4)

Last week, Ethereum surpassed the resistance level of $355 and $360. In addition, ETH price failed to gain bullish momentum above the $370 and $375 resistance level. And alsoether price started a sharp decline. 

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It broke the $355 support level and moved into a negative zone. There was also a break below a major ascending channel with support near $355.

The price tested the $335 support zone, where the bulls took a strong stand. Recently, there was an upside correction above the $340 level. Ether traded above the 23% Fib retracement level of the downward move from the $369 high to $336 swing low.

If Ether fails to stay above the $335 support, there is a risk of a sharp decline towards the next major support at $315 or $310. Any further losses could affect the price towards the $300 support.

Ethereum (ETH) Technical Indicators

MACD – The MACD for ETH/USD is moving into the bullish zone slowly.

RSI – RSI for ETH/USD is well below the 50 levels.

Support Level – $335

Resistance Level – $355

Ethereum (ETH) High Trend-Line

ETH/USD has been one of the surprises of the post-March collapse. Broken above its June 2019 high, while BTC is lagging. Despite the success, there is a particular pattern that holders want to see breaking upwards.

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Higher High trend-line meet on the 1W candles of August 20, 2018, June 24, 2019 and recently August 21, 2020. The middle of the Channel will serve as a Resistance/ Support level at times. Every Higher High is on the 1.15 Fib extension of the previous Low-High leg.

Ethereum (ETH) Price Prediction 2021

For instance, zooming out and looking towards Ethereum’s macro price action. Analysts observed that ETH price may reach $5.5k in 2021. 

The Analyst mentioned in a tweet,

$ETH 2021 Chart..the overall upside momentum and possibility over the coming years could be $5500 target.

Ethereum’s firm price prediction in 2021 is $500. Furthermore, it may also reach between $600-$800 come January 2021.

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Ethereum Price Prediction 2021

Ethereum’s bullish prediction for 2021 is within $800. However, this is evident from the double in price observed from March until August. This may be possible as the DeFi market continues to thrive amid many exchange listings. Moreover, many exchanges today are supporting various DeFi activities, especially yield farming.

Miners Earned $166M ETH Fees Were Six Times More Than BTC

Miners Earned $166M ETH Fees, Six Times More Than BTC

Glassnode data shows Ethereum’s total transaction fees recorded their highest-ever earnings in September 2020, stood at an all-time high of $166 million for the month which is more than the $26 million taken in Bitcoin fees.

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Glassnode Tweet on Ethereum Transaction Fees

The major factor behind this rise is the growth of the decentralized finance (DeFi) market in the crypto space. Moreover, miners are individuals or entities who use computing rigs to maintain and mine blocks on proof-of-work cryptocurrencies for rewards.

Some miners explained that much of the growth came as increased trading activity in low-cap DeFi projects and non-fungible tokens. For instance, the Ethereum price is at $352.45 with a 24-hour trading volume of over $14.1 billion, according to Coingecko.

As per data, in March and April Ethereum miners made an average of $4 million in fees. However, Miners pocketed $22 million and $32 million in June and July respectively as the DeFi industry started to gain steam due to the launch of lending protocol Compound. 

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Total Transaction Fees: Ethereum vs Bitcoin (Source: Glassnode)

At the start of 2020, the monthly Ethereum fees were just $1.5 million. This is similar to total value locked (TVL) in DeFi, which first broke the $1 billion in February but surged over $11 billion in summer, according to DeFi Pulse.

XRP Investors Reveals Strategy to Identify Highly Profitable Crypto

XRP Investors Reveals Strategy to Identify Highly Profitable Crypto

  • Crypto Bitlord identifies macro trends as part of his strategy to identify highly profitable cryptocurrencies.
  • According to the analyst, Polkadot and Kusama could be projects with great potential.

The early XRP investor, Crypto Bitlord, remembered in the 70th edition of Going Parabolic the days before the all-time high of the Bitcoin price and spoke about his experience in identifying trends and crypt0currencies with the potential to achieve exorbitant returns.

Crypto Bitlord entered the crypto market in 2012 and was one of the investors who bought the digital asset XRP for $0.008. At an all-time high, XRP rose 50,000% to $3.84. The investor said that before this rally, the community focused its attention on individual aspects of the fundamentals that make up the value of XRP:

It was going through all of that period of everybody just, all the Bitcoin people just hating on it, destroying it, slandering it left, right, and center, and I’m saying ‘Look, it doesn’t matter what you want to think of a banker’s coin. It’s the fucking dumbest thing I’ve ever heard. Just have a look at what they’re doing here. There’s some potential here. Back it.

Crypto Bitlord collects information, reviews, fundamentals, and other data that supports the value of an asset and its potential to rally. The investor stressed the importance of waiting for the right moment in the market. In addition, he considers the most popular tokens currently being traded to be scams. In reference to the growth of the DeFi sector on Ethereum, the investor added:

But the thing is that sometimes you trade these things. That’s how it is, if you want to make a living trading this stuff. Look at the stock market, there are scams there. The thing is, you have to know how to do it. That’s crypto, a lot of things are scams. Some people argue that XRP is a scam.

New projects with the same potential as XRP

The investor believes that the world is on the verge of massive adoption of Bitcoin, XRP, and other cryptocurrencies. Therefore, he has continued his strategy of looking at market trends at a macro level. The investor claims that market activity has been slow in 2020. Therefore, he has focused on finding a “blue chip” in new projects like Polkadot and Kusama.

Like Ethereum, these projects have features that make them stand out from the competition and help investors distinguish them from scams. For example, the investor claimed that these projects have community support, developers, infrastructure, and financing:

You’re really investing in the team, not just the idea. When you have a solid team, when you have something solid like Polkadot or Kasama you have little chance of losing everything. I call them blue chips. You can put money in there for a year.

Source: https://www.crypto-news-flash.com/early-investor-of-ripple-xrp-reveals-strategy-to-identify-highly-profitable-cryptocurrencies/

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain has announced the listing of its own coin on Bittrex Global exchange starting on September 24, 2020.

Beowulf, a business-to-business decentralized cloud network for communication services. The company brings transparency and immediately-available solutions for all users and business customers in many fields.

Through the listing, Beowulf will decentralize the ownership of the blockchain. It will also provide a unique opportunity for people and organizations around the world to become supernodes. However, allowing the Blockchain to distribute 100 million BWF coin (worth $1M USD) to the community within two weeks after the listing. 

Moreover, Beowulf will work with the exchanges to establish a supernode network. Users can stake their holdings together to form supernodes. Therefore, earning block rewards (BWF coins) and transaction fees from the company is simple and seamless.

Beowulf Blockchain CEO Dr. William H. Nguyen said,

“With the support of industry-leading partners, Beowulf Blockchain will be able to completely disrupt the enterprise communications industry by providing a better video-quality, more efficient, and lower-cost video conference services to end-users worldwide.”

Recently, Beowulf Blockchain has also partnered with FHL Games, the leading games and digital content distributor in Latin America. The company also forged partnerships with many prestigious educational organizations and corporations worldwide to deploy QUICKOM, TUTORICA, BIPLOMA, and other advanced technology platforms.