Connect with us


Here are Master Analysts’ Epic Ethereum, Ripple, Litecoin and Altcoin Forecasts – Most of the subcoins on the market made medium to large gains, while Bitcoin recorded small gains in the last 24 hours. The price increase in altcoins comes after a few months when altcoins lost much of their value for the BTC. Did the altcoins see their bottoms now? Can the three most popular subcoins Ethereum, Ripple and Litecoin now see the new peaks? Here are the assertive Ethereum, Ripple, Litecoin and altcoin predictions of expert analysts you can find answers to all these questions… Carlos Terenzi: Litecoin is a crypto currency that still tends to be explosive! According to ConiMarketCap, the top 10 subcoins recorded earnings of 3-12 percent in the last 24 hours. The fastest growing digital assets are EOS, with a 12% increase, Litecoin (LTC), and Ethereum (ETH) and Bitcoin Cash (7%). This comes after the third quarter, when Bitcoin’s market dominance rose to over 70% for the first time since 2017. In the meantime, the subcoins have dropped to the lowest level since December 2017, when Bitcoin reached an all-time high. Both EOS and Litecoin recorded the biggest gain among the top 10. Since December 2017, EOS has reached its lowest point in terms of BTC. At that time, EOS was emerging as a new digital entity with a governance system that completely revolutionized the crypto ecosystem and had never been seen before in any crypto. At the same time, Litecoin reached its lowest point since March 2017, a few times lower than EOS. However, according to popular analyst Carlos Terenzi, Litecoin is a crypto currency that tends to be explosive. Successful analyst: Ethereum may start moving against the BTC in the current market. According to Carlos Terenzi, Ethereum, which has reached its lowest point since the beginning of 2017, may start to act against the BTC in the current market. Since September 2018, Ethereum has not been able to move away from the 0.04 BTC barrier. XRP, one of the oldest digital assets on the market, is moving a trend in terms of BTC. Therefore, according to Carlos Terenzi, it will be very important for Ripple to move away from the current levels and continue to grow against the BTC. The XRP has reached its lowest BTC price since December 2017.

.Source: kriptokoin.


Is Ethereum Really Centralized? Litecoin Founder, Charlie Lee, Slams Ether DeFi Growth

  • Litecoin founder slams Ethereum for being too centralized
  • Ethereum faced a major hack recently
  • LTC founder also criticized the way the breach was handled

Ethereum news today – Today, Litecoin is the news again for notorious reasons. The network’s founder and chief has openly spoken against a competitor, Ethereum, following the catastrophic DeFi breech. Keep in mind that Ethereum’s DeFi smart contract was compromised not too long ago. Following this recent compromise, Charlie Lee of Litecoin has openly attacked the DeFi sector of being overly centralized. He said that the centralization of the system is why it the network was breached. The Litecoin founder also described the DeFi (decentralized finance industry) growing fastest on the Ethereum Blockchain as “decentralization theater”.

Lee: Is DeFi Decentralized if it Can be Shut off?

Recently one app that succumbed to a security breach is called Fulcrum. After the compromise, the developers at Fulcrum froze the affected smart contract. LTC’s Lee has criticized the rapidly expanding decentralized financial app sector for being more centralized. He called the industry a “decentralization theater” when responding.

In the past weekend, one attacker managed to breach the Ethereum-based margin trading app known as Fulcrum. Although the report was not officially disclosed, there are people in the ecosystem who believe that much as $350,000 worth of ETH was stolen by Cybercriminals. As issued in a tweet, the developers from bZx have disabled the bulk of elements that detail how the smart contract was impacted by the heist. The team hasn’t been able to deliver any official report about the issue, but claim the remaining funds on the platform is safe.

DeFi is a Growing Network of Decentralized Financial Apps

Largely based on the Ethereum Blockchain, DeFi stands for the expanding network of decentralized financial apps. Decentralized financial applications offer a broad range of services including services found in the traditional markets. DeFi’s are Built on public Blockchains. Applications like Synthetix or MakerDAO are design to promote better financial inclusion in the space. Litecoin founder, Charlie Lee was reportedly among the dissenting voices over the latest happening in Ethereum. He was openly critical of the way the network handled its recent security breach. He went on to call DeFi names like the worst of both worlds. Lee attacked the perceived lack of decentralization when it comes to DeFi apps.

According to the LTC chief, if a developer can easily terminate an aspect of an app, then it is not a decentralized solution at all. Despite the fact that decentralized financial apps were made to be leaderless models, some developers were trusted with the powerful kill switches within the system. However, during the hack, these so called leaders were powerless.

News Source

Continue Reading


DeFi Project bZx Exploited for Second Time in a Week, Loses $630K in Ether

Bad actors have made off with $630,000-worth of the ether (ETH) cryptocurrency after exploiting a price feed of the ethereum-based lending project bZx.

The attack – the second in less than a week – began at just after 03:00 UTC Tuesday, when attackers apparently took out a flash loan of 7,500 ETH (approximately US$1.98 million), using 3,518 ETH (~$939,300) to purchase synthetic USD stablecoin sUSD from the issuer, which they then posted as collateral for a bZx loan, according to an analyst on Twitter.

They then used 900 ETH (~$240,000) to bid up the value of sUSD through an integrated price feed from liquidity provider Kyber Network until the dollar stablecoin spiked at $2. Using this inflated collateral, they took out another loan of 6,796 ETH (roughly $1.8 million) that was used to pay back the original 7,500 ETH loan, pocketing the remaining 2,378 ETH.

The total amount stolen is worth approximately $633,000, according to CoinDesk’s Ether Price Index. In its entirety, the attack took just over a minute from beginning to end. The exploiters have left an open loan with half the required collateral now that sUSD has returned to its dollar pegging.

The total amount of ether locked in bZx lending contracts has nearly halved from 40,000 ETH (~$10.7 million) to 23,000 ETH (~$6.1 million) since the exploit took place, according to statistics site DeFi Pulse.

Source: DeFi Pulse

The official Twitter account for bZx confirmed at 04:38 UTC the project had suspended trading after it detected “suspicious transactions using flash loans and trading on Synthetix.” A bZx spokesperson confirmed on the group’s Telegram channel the company itself, rather than any of the platform’s users, would cover the shortfall.

The attack comes days after bZx fell victim to a similar flash loan-based attack where more than $350,000-worth of cryptocurrencies were extracted from the platform. It’s unclear whether the two attacks were carried out by the same person or group.

What are flash loans?

The vast majority of DeFi lending facilities rely on overcollateralized loans: Borrowers can usually only borrow around 75 percent of the value of their collateral. Although that incentivizes users to pay back loans, it also requires lenders to have very high liquidity – sometimes in a diverse range of assets – in order to quickly liquidate loans.

Flash loans are instruments that allow traders to liquidate the loans on the lender’s behalf. It works by having the trader take a loan out from the lender – this time not posting any collateral – then paying back the borrower’s debt and collecting the deposit. Using the deposit they can pay back the original loan and pocket the remaining funds.

Flash loans were already available on other DeFi projects such as the non-custodial lending platform Aave Protocol, which has offered them since the beginning of the year.

bZx only launched its own flash loan instruments on Monday. CEO Tom Bean defended the decision to introduce flash loans onto the platform. “By all accounts, the flash loan code on bZx was not what allowed this attack. It was just a tool used that functioned correctly and could have been swapped out for dydx and Aave flash loans,” he wrote on the company’s Telegram channel.

Kyle Kistner, bZx’s chief visionary officer and operations lead, confirmed, also on Telegram, the flash loan hack was “completely tractable.” He highlighted that bZx would accelerate plans to integrate Chainlink to diversify price feeds and prevent oracle manipulations from happening again.

A representative for bZx told CoinDesk the team was trying to resolve the exploit with its team of engineers. Bean and Kistner did not immediately return calls for comment.


Continue Reading


Ethereum should consolidate position above $300 by mid-March

Over the past four days, Ethereum has recorded significant price volatility. After registering a significant dump of around 18 percent over 15-16 February, the market’s 2nd largest crypto-asset jumped right back above the $270 mark. Over the past 24 hours, Ethereum had recorded a positive turn around of 8.01 percent, with a market cap of over $30 billion.

Source: ETH/USD on TradingView

On observing Ethereum’s 1-day chart, it can be identified that the surge on 30 January was a bullish breakout that surfaced due to the formation of a long-term cup and handle pattern. The pattern started developing towards the end of November 2019 and took shape over the last 3 months.

After the spike on 30 January, Ethereum inevitability breached past its key resistance at $229 (i.e acting support, at present) and the token has since, managed to consolidate over the $250 mark. The aforementioned correction on 15 February did bring it below $250 for 24 hours, but the price bounced right back.

At press time, the bullish momentum was picking up pace again. Hence, there is a possibility that ETH may cross $300 over the next few days. However, it would be short-lived.

A minor correction down to $251 would allow the token to successfully head towards the $303 resistance by mid-March and consolidate above the range for a longer period of time.

However, according to the VPVR indicator, trading volume at $229 has been strong over the past six months and repeated corrections from 15 February may allow retracement down till the $229 support.

Ethereum/Bitcoin 1-hour chart

Source: ETH/BTC on TradingView

However, on observing the ETH/BTC 1-hour chart, a re-test down to $229 seems less likely for Ethereum. According to the chart, an inverted head and shoulder pattern had been breached at press time, which suggested that the 2nd largest asset is primed for another bullish surge. A breakout after a head and shoulder is heavily bullish, something that improves the probability of Ethereum crossing $300 in the short-term. Concerns about another bearish pullback will remain after the bullish momentum faces timely exhaustion over the next few weeks.


It is possible Ethereum may breach the $300 mark resistance over the next few days, but a quick retracement will follow that. After a pullback, the token should consolidate between $251-$279, before eventually marching past $303 by mid-march.

News Source

Continue Reading