Bitcoin hash rate has increased
Bitcoin has undergone a major correction over the past few weeks.
Bitcoin hash rate continues to grow despite falling prices and miner churn
Digital asset manager Charles Edwards recently noticed that bitcoin hash rates are skyrocketing.
This breakthrough comes after a metric that tracks how much processing power is allocated to mining Bitcoin has consolidated around its all-time highs of around 130 exes per second for several weeks.
Bitcoin hash rate has increased
BNB Soars To New 2020 High
Binance Coin Is Up An Impressive 55% This Week To A New 14-Month High
In early September, the fall in the bitcoin price caused Binance Coin to fall from the $ 26 resistance and reach support on an uptrend line from 2 months ago. BNB then recovered as buyers began to increase their volume.
On September 12, the BNB rallied 12.5%, pushing the price above its previous 2020 high of $ 27.17. Today, BNB continues to rally and jumped another 8.6%, bringing the coin past the $ 30 mark and setting a new 2020 high of $ 32.57.
Binance Coin is up 55%
BurgerSwap and BakerySwap Raise Binance Coin Prices To ATH
Two new DeFi clones have caused a sharp jump in the price of Binance Coin.
Not a week has passed that at least one DeFi protocol hasn’t been cloned to trigger another leap in liquidity for a new generation of income hunters.
The two DeFi clones are called BurgerSwap and BakerySwap, both forks of Uniswap and both have chosen Binance Smart Chain. The first was launched over the weekend, raising nearly $ 400 million in liquidity through the BNB token.
BURGER tokens can be issued through the provision of liquidity, with ten percent returned to the anonymous team behind the duplicate DeFi. Liquidity pools are provided in BNB pairs instead of ETH, which is likely the reason for the recent price spike.
New BurgerSwap and BakerySwap clones
Binance CEO Wants More Ethereum-Based DeFi Projects To Join His Platform
Changpeng Zhao welcomed other Ethereum-based DeFi projects joining the Binance Smart Chain platform.
In a discussion on Twitter with another user, Zhao explained that the move will reduce the load on the Ethereum network, which in turn will lead to lower Ethereum gas fees.
Zhao later stressed that Binance Smart Chain is not a replacement or competitor to the Ethereum network and that it is compatible with it.
EU spokesman promises to take action on stablecoins following calls for new restrictions
The concerns of the bloc’s finance ministers over stablecoins will be addressed in future legislation.
On Friday, finance ministers from major EU members such as Germany and France called for increased restrictions on stablecoins in the region. The next day, during a press conference, Valdis Dombrovskis, Executive Vice President of the European Commission, tried to allay such concerns.
DeFi bZx protocol attacked again, lost $ 8 million due to wrong code
DeFi lending protocol bZx was attacked again last night
The incorrect code allowed the attacker to duplicate assets or increase their iTokens balance. A few hours after the bug was discovered, bZx paused the creation and burning of the iToken and then resumed it after a fix that fixed duplicate balances.
bZx said that no user funds are at risk as the losses are covered by its insurance fund.
DeFi bZx protocol attacked again
DeFi Comes To New York As Gemini Lists Compound
Pax Gold and Amp are also the latest additions to the exchange.
Crypto exchange Gemini announced on Friday that traders can start depositing Pax Gold, Amp and Compound into their accounts. Trading in assets will begin on September 15th.
The most notable addition is the $ COMP, a governance token for the Compound decentralized lending protocol, which has a market cap of $ 563 million, according to metric site Coin Gecko.
Gemini lists Compound
COVID-19 Shook Retail Investors, But Grew Courage to BTC Whales
Some bought a dip, others decided to wait.
With the onset of the COVID-19 pandemic, retail and institutional bitcoin investors have taken vastly different approaches as new research by OKEx Insights and Catallact has shown.
The study, which looked at data on BTC transactions on the network from January to early August 2020, found that retail investors have largely retreated and adopted a wait and see strategy with Bitcoin. On the other hand, larger and possibly more institutional investors have accumulated BTC. The report excludes transactions during most of August and September when prices fell.
BTC investors during the pandemic