Wednesday 28 September 2022
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Decentralized Finance

This little-known DeFi crypto token has rallied over 800% in a month

A new and relatively unknown DeFi token called BarnBridge (BOND) has rallied over 800% to reach $20 on July 26. The BOND price surge comes more than a month after bottoming out at around $2.19. In comparison, top coins, Bitcoin (BTC) and Ether (ETH) have only rebounded by 18% and 54% in the same period, respectively. BOND/USD daily price chart. Source: TradingViewAnother pump and dump?BarnBridge is a cross-chain risk management protocol that offers a suite of composable DeFi products for investors to hedge against interest rate fluctuations and price volatility. Examples include SMART Yield — a product that enables investors to secure fixed rate yields from the debt pools of other projects such as Aave, Compound, Cream, or Yearn.finance — and SMART Exposure, which offers investors tools to rebalance portfolios. BarnBridge SMART products explained. Source: Official WebsiteBarnBridge's latest product, SMART Alpha, allows investors to hedge against price fluctuations and provides th..

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IMF recession warning sees Bitcoin dip under $21K amid fresh $1M BTC price forecast

Bitcoin (BTC) fell below $21,000 for the first time in eight days on July 26 as Wall Street prepared for a decision on United States' anti-inflation policy. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFed jitters test market resolveData from Cointelegraph Markets Pro and TradingView showed BTC/USD ending a period of sideways action on the Wall Street open, hitting lows of $20,788 on Bitstamp. Against its highs of $24,280 on July 20, the pair was now down over 14% as nerves across risk assets heightened in anticipation of the Federal Reserve's decision on interest rates due July 27. The higher the base rate hike by the Fed, the more problematic the outlook for crypto investors as more tightening would mean more conservative conditions prevailing across the economy. "BTC has lost the Higher Low, which represented a lower timeframe technical uptrend," he told Twitter followers alongside an illustrative chart. Elsewhere on macro, the International Monetary Fund (..

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Texas a Bitcoin ‘hot spot’ even as heat waves affect crypto miners

Record-breaking heat waves are being documented across the world as extreme weather is worsening due to climate change. States throughout America are continuing to see temperatures rise above 100 degrees Fahrenheit (38 degrees Celsius), while the United Kingdom recently saw temperatures reach 104 degrees Fahrenheit (40 degrees Celsius). While hot climates may be unusual for many of these regions, Texas — a state notorious for its boiling summers — is experiencing hotter-than-usual temperatures. The Electric Reliability Council of Texas (ERCOT) recently stated that Texas’ power load demand has been breaking records consistently this month. Unsurprisingly, Texas’ continuous heat wave is having a major impact on crypto miners located throughout the Lone Star State. As Cointelegraph recently reported, a number of miners in Texas had to cease operations entirely earlier this month in order to accommodate Texas’ energy grid load. Lee Bratcher, president of the Texas Blockchain Council, to..

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TikTok data policy debacle: Is user’s crypto at risk?

TikTok continues to gather a head of steam, with the popular social media application surpassing one billion users in 2022. While daily users blissfully swipe through the latest videos from their favorite content creators, data security concerns continue to ask questions of the Chinese social media behemoth. The company has faced criticism over the past couple years relating to security concerns over data collection policies despite the popularity and prolific onboarding of users around the world. Cryptocurrency users have also questioned whether critical data like private keys to wallets could be scraped by the alleged data practices of TikTok. United States Federal Communications Commissioner Brendan Carr called for Apple and Google to remove TikTok from their app stores in June 2022, claiming the app “harvests swaths of sensitive data that new reports show are being accessed in Beijing.” Two years prior to this, cyber intelligence firm Check Point Research released a report highlig..

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Bitcoin mining to harness onsite natural gas emissions: Ark Invest

Data from a recent Ark Invest report highlights another utility for Bitcoin (BTC) mining in the realm of sustainability and energy. According to the findings, there is enormous potential to transform methane emissions into energy for Bitcoin mining, which, in turn, will turbocharge solar and wind-generated electricity at onsite wells. Annual gas flaring emissions equal 140 billion cubic meters, along with an additional 125 billion cubic meters in annual methane emissions. Therefore, left untouched, this means 265 billion cubic meters of natural gas emissions are wasted yearly. However, an analysis of the methane needed for the current Bitcoin hashrate stands at only 25 billion. While harnessing the entirety of the emissions is impossible due to the oil industry’s preexisting flaring operations investments, capturing methane is a viable and early solution. Ark Invest’s Sam Korus tweeted that over half of all vented methane occurs onsite at wells. This makes the location a prime spot..

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