The week of 31/10 in brief
The news about Bitcoin and cryptocurrencies is in constant turmoil. Sometimes vital information gets lost in the daily news flow and you miss the important points. This format is here to remedy that. We take a look back at the past week’s news in the Crypto Weekly to keep you informed about the current state of cryptocurrencies.
Crypto news in brief
Christine Lagarde says inflation has “come from nowhere”. A surprising statement, to say the least, given the ECB’s monetary policy.
The Lightning Network is the victim of a critical flaw. A bug was discovered in the LND client. Fortunately, it was fixed before a hacker could exploit it.
MakerDAO at the heart of the debates regarding the End Game update. Although the update has been approved by the governance, the decentralisation of the vote is being questioned.
Elrond Network becomes MultiversX. At the X Day conference, the Elrond project announced its rebranding.
The NFT Art Globbers project ignites the NFT ecosystem. The project, co-founded by one of the creators of Rick & Morty, recorded a large volume upon its release. However, the project is already facing significant FUD.
Huobi Global is backing off its NFT. Indeed, the centralized exchange platform has announced the abandonment of its HUSD NFT project. A major victory for its competitors USDT and USDC.
Binance wants to play in the big league. Thus, Changpeng Zhao revealed his ambition to acquire a traditional bank in order to obtain the licenses that go with it.
The cryptocurrency markets have seen a resurgence this week. A look back at the various moves with Coin Trading.
The 5 metrics of the week
➤ 99.9%, this is the drop in consumption recorded by Ethereum. Indeed, this decrease is a consequence of the transition from Proof of Work to Proof of Stake.
Energy consumption of Ethereum.
➤ 190 million dollars, this is the amount that was lost by the platform Hodlnaut following the fall of Terra Luna. A disaster from which the company is struggling to recover.
➤ 98%, this is the increase recorded by the DogeCoin in 7 days. This rise follows the takeover of Twitter by Elon Musk, known to be a strong supporter of the meme corner.
➤ $7 million is the amount that was returned by the Team Finance hacker. After negotiations with the protocol teams, he returned the stolen funds. Nevertheless, he still kept 10% of the stolen funds as a reward.
The amount stolen from the DeFi Skyward Finance platform was $3 million. The attacker managed to find a verification flaw in one of the protocol’s smart contracts.
Hack Skyward Finance.
Tweet of the week
Tweet of the week goes to HIT9PROJECT and its alert about the fake OlympioCrypto account, known for sharing airdrop deals.
Have a great week on crypto prof!
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