DeFi News Today TheBitTimes.com

As of press time, Bitcoin is trading 2.12% down at a price of $28,566 and a market cap of $553 billion. It seems that Bitcoin is ending the month on a pretty flat note, however, it holds the potential to jump new highs over the next year. advertisement So far, the Bitcoin (BTC) price is already trading at more than 75% gains since the beginning of 2023. Citing historical trends, data from Bloomberg shows that a four-months winning run in Bitcoin over the past decade has been followed by an average surge of 260% in the subsequent year. This would further propel the Bitcoin price all the way to more than $100,000. Bitcoin has managed to overcome major macro events and the banking crisis this year and is acting as a true hedge against the traditional financial system. On the other hand, the countdown to Bitcoin halving starts which is tentatively around one year from now. If history is a lesson, the rally in the Bitcoin price should continue till the halving ev...

Also Read: Popular Analyst Predicts Looming Ethereum Price and Altcoins Crash advertisement Peter Brandt Bitcoin Price Prediction Legendary trader Peter Brandt expressed a bullish view on the prospects of Bitcoin price, considering the behavior in last 24 months. Earlier, the trader predicted that Bitcoin price was likely to reach the $40,000 range. Referring to the ups and downs in Bitcoin dominance pattern for the last two years, Brandt said he was optimistic of a huge rise in BTC price if a breakout from the current level is seen. “The Bitcoin Dominance chart has now formed a 24-month rectangle with multiple upper and lower boundary contacts. For now this is the confining range. However, a decisive breakout of this range would have huge significance.” Overall, he said that Bitcoin could be the lone “King of the Hill” for crypto market, going forward. Currently, BTC is at 45% of the of total market capitalization among ...

KuCoin exchange has confirmed that the crypto wallet responsible for thousands of rug pulls on its platform belongs to one of its users. The crypto exchange confirmed the information after a community member accused it of owning and controlling the same wallet. .@CoinGurruu the wallet that you claim has launched 2-5 memecoin scams per day for the past two years is owned and controlled by @kucoincom. @etherscan has already marked this address as "Fake_Phishing179336". Comments @lyu_johnny? https://t.co/8sy07KujUa pic.twitter.com/gziza5mVNW — James Edwards (@librehash) April 27, 2023 On April 26, a KuCoin community member alerted the public about a wallet that launched between two to five memecoins daily for two years. The user who identifies as CoinGurruu on Twitter warned other users to be wary of the address and ensure that they label it on Etherscan. Another KuCoin community member identifying as James Edwards on Twitter accused KuCoin of being behind...

The crypto ecosystem started with decentralization as its ethos. Bitcoin [BTC] was the first crypto currency to make its debut. The asset was introduced with decentralization as one of its primary elements. However, the founder and CIO of Cyber Capital suggested otherwise. Earlier today, Justin Bons created quite the buzz on Twitter after he categorized a few crypto currencies as not true decentralized finance assets. This list included Bitcoin, XRP, Binance Coin [BNB], as well as Stellar [XLM]. Here, he calls out Bitcoin for not being able to carry out “complex financial products.” With regard to the other assets mentioned above, he believed that they run on “permissioned blockchain architecture.” In permissioned blockchains, users must request permission before joining the network, and a central organization or a small group of entities sets the network’s rules. This sadly steered them towards the centralized category. Furthermore, he suggested that Ethereum [ETH], C...

Schwarzenbach, Switzerland, April 27th, 2023, Chainwire   Veax Labs has officially launched its advanced decentralized exchange (DEX) on mainnet. Built on NEAR Protocol, the platform aims to seamlessly bridge Features commonly found in the traditional finance (TradFi) with that of the decentralized finance (DeFi) market. Together with the launch of the platform’s mainnet, it has introduced the Veax Liquidity Provider (LP) Incentive Program, a unique opportunity to reward community members who commit liquidity to the platform, further accelerating its growth. Building On A Successful Testnet Since the platform’s public testnet launched in late January, over 12,230 users accessed the platform, creating over 120,000 liquidity positions and generating nearly 2 million native NEAR testnet transactions. Following the success of the platform’s public testnet, the team has developed a unique trading experience for the NEAR ecosystem, building on feedback received and implemented du...

Join Our Telegram channel to stay up to date on breaking news coverage The non-fungible token market has experienced tremendous growth in recent years, attracting many investors and artists to the nascent sectors to create and trade unique digital collectibles. However, the majority of active NFT investors have reported making losses from their NFT investments in recent weeks. Let’s find out how we can mitigate such losses and maximize gains: NFT Investors Are Losing 0.1 ETH Daily – How To Stop This Loss Non-fungible token collections with small floor prices are the most unpredictable and volatile digital assets, making them easy to incur losses. Based on the short study, NFT investors investing below 0.05 ETH are likely to end up with 0.2 ETH losses at the end of the month just because of that. In an April 26 blog post, Nics, an on-chain crypto researcher and trainer, has shared some tips that might help non-fungible token investors to effectively mitigate or eve...

What Is Address Poisoning? Address poisoning is a type of phishing scam that can target individuals who have acquired undesired tokens and who do not thoroughly check their addresses before transferring cryptocurrency. To “poison” a user’s token, an attacker will transmit a useless token to that user’s address that has a value close to zero or that has no value at all. Following that, the transaction will be logged in the history of the crypto wallet, where it will be available for selection whenever a transfer is being made. advertisement Read More: Will U.S. Inflation Data & FOMC’s Minutes Propel Bitcoin’s Price Above 30K? The goal of the con is to fool the user into inadvertently sending crypto to the address associated with the con. Hackers make use of complex software to generate bogus wallet addresses that, at first glance, are almost identical to “poisoned” ones. These spurious addresses are reported...

The world’s largest DeFi application for crypto staking – Lido Finance – has expressed concerns and challenges ahead in the wake of SEC’s crackdown. Initial reports suggested that decentralized crypto-staking platforms like Lido Finance could benefit from SEC’s crackdown. However, that seems to be entirely the case. advertisement Jacob Blish, head of business development at Lido Finance said that while on-chain permissionless staking could see some benefit, it really depends on the final resolution in this matter. Blish added that if the US regulators decide that no individuals could interact with crypto-staking services of any form,  then “we have a different problem”. Speaking to Bloomberg, Blish added: “The biggest risk I personally see as a US-based person is if they come down and say you can no longer even interact with or contribute to these types of protocols. Then me as a contributor to the DAO, does t...