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Ethereum (ETH) crash: Is there a panic and liquidation on MakerDAO?

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Approaching filter wave – MakerDAO is a decentralized finance protocol fromEthereum. This makes it possible to create a stable DAI against the collateral of other cryptocurrencies. However, in times of a severe market downturn, defaults on some large loans can lead to waves of liquidation.

contracting pic shieldwhich specializes in blockchain security, has just highlighted a The alarming situation on the MakerDAO protocol.

In fact, after the drop in the price of ETH, currently around $1,300, Many loans contracted under the protocol could be in default.

A cautionary tweet by Peckshield regarding MakerDAO
Warning tweet posted by Peckshield regarding MakerDAO – Source: Twitter.

Thus, the value deposited as security no longer covers the amount borrowed. In such a case, the protocol will settle the loan default by liquidating the collateral. to do this, The collateral will be sold to cover the user loan.

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but, A loan of 3.3 million from DAI is currently on the verge of default. In fact, it will be liquidated if the price of ETH falls below $1,284.

Unfortunately, reselling such a large amount of ETH may cause the ETH price to drop temporarily. This drop, in turn, can lead to the liquidation of other loans, which in turn will affect the price of ETH, Send the protocol to Vortex Filter.

An event of this kind was already observed in March 2020. This episode was called Black Thursday, and it led to the liquidation of hundreds of loans.

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Why Bitcoin and Ether Dropped on Monday

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As the cryptocurrency ecosystem celebrated Ethereum’s The Merge move last week, the cryptocurrency market was in the red on Monday morning.

On Monday morning, cryptocurrencies are in the red. According to data from Coinmarketcap, at 10:30 am Bitcoin is trading at $18,500, which is once again falling below the token threshold of $20,000. The cryptocurrency lost 16% of its value in a week, and 8% in a single day.

Ether, for its part, is not doing much better: the asset is trading at $1,300, and its value has fallen more than 25% in a week, including 10% since Sunday, to return to its lowest level since midweek. July.

As a result, the total capitalization of the cryptocurrency continued to decline, reaching $900 billion on Monday, far from the token threshold of $1,000 billion. As a reminder, this capitalization reached a historic peak last November, at about $ 2,800 billion.

New Federal Reserve meeting

How do we explain the new decline in cryptocurrencies? On the other hand, these assets are still tied to the traditional markets, which are still stretched as the Federal Reserve prepares to hold its new monetary policy meeting on Tuesday and Wednesday, when it is expected to announce another rate hike.

This Monday around 10:35 a.m., CAC 40 It lost 0.83% after having already fallen by 2.17% throughout the past week. Similarly, futures contracts in the US markets declined (decreases ranged between 0.9% and 0.7%) on Monday. In general, the stock markets are penalized for risk aversion, and cryptocurrencies are considered a part of risky assets, and therefore they are punished by reducing the investments of individuals and professionals.

Ether in the crosshairs of the Securities and Exchange Commission

Moreover, if ether falls more sharply than bitcoin, it is also due to a certain context. Last week, the Ethereum blockchain She successfully completed her merger named The Merge. This transition, which consisted of moving from “Proof of Work” to “Proof of Stake” mode of operation, did not leave the policeman of the American Stock Exchange indifferent.

The Chairman of the Securities and Exchange Commission (SEC), Gary Gensler, said last Thursday Cryptocurrencies that use “Proof of Stake” (or PoS for “Proof of Stake”) can be considered “transferable securities” after passing the Howey test. Wall Street Magazine. “Howey’s test determines whether an asset qualifies as an ‘investment contract’ and is therefore subject to federal security laws,” the media said.

On the other hand, the Chairman of the Securities and Exchange Commission was not specifically qualified for ether or any other cryptocurrency according to the Wall Street Magazine, but the system itself is called “Proof of Stake”. However, given the move to The Merge of Ethereum, such a message from the US stock market policeman seems undoubtedly sound. So far, Gary Gensley has said that bitcoin does not fit into the category of securities.



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Bitcoin drops to lowest level since 2020

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Bitcoin was approaching its lowest level since 2020 on Monday morning. Cryptocurrency investors seem to be preparing for global measures to counter record inflation.

Bitcoin’s value fell 6.7% on Monday to $18,500. Other cryptocurrencies suffered the same fate: Ether fell below $1,300 for the first time in two months. XRP and polkadot saw even bigger losses. The value of all 21,000 virtual currencies has fallen to about $900 billion.

Cryptocurrencies are very unstable, investors prefer fixed prices

Investors are preparing for another rate hike from the US central bank to counter hyperinflation in the US. The Federal Reserve will vote on this on Wednesday. In an environment of rising prices, fixed-rate investments become more attractive than more volatile assets and therefore riskier like cryptocurrencies. The BoE is also expected to raise its key interest rate this week.



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This is an important point that reinforces the centralization of Ethereum that you must understand

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BitMEX also highlighted the need for a complete redevelopment of Flashbots or a similar system to mitigate unexpected complications in the post-merger era.

After The Merge upgrade was completed, Ethereum (ETH) switched to a Proof of Stake (PoS) consensus mechanism, helping the blockchain become energy efficient and secure. However, mining data reveals Ethereum’s heavy reliance on Flashbots – a single server – to build the block, raising concerns about a single point of failure for the ecosystem.

Flashbots is a central entity dedicated to transparent and efficient mining of the maximum extractable value (MEV), which acts as a relay for the delivery of Ethereum blocks. Data from mevboost.org shows that there are six active relays currently issuing at least one Ethereum block, namely Flashbots, BloXroute Max Profit, BloXroute Ethical, BloXroute Regulated, Blocknative, and Eden.

As shown above, 82.77% of all migration blocks were generated by Flashbots alone, which contributes strongly to the centralization of Ethereum.

A related BitMEX blog noted the need for a complete redevelopment of Flashbots or a similar system to mitigate unexpected complications in the post-merger era. However, Flashbots proponents claim that the system is a decentralized autonomous organization (DAO) and will eventually become decentralized itself.

To complement the data on Flashbot’s dominance, an analysis by Santiment indicates that 46.15% of Ethereum PoS nodes are controlled by just two addresses.

According to our #Ethereum Post Merge Inflation dashboard, 46.15% of #proofofstake nodes can be returned for data storage, transaction processing, and adding new #blockchain blocks to just two addresses. This strong dominance must be monitored by these titles. pic.twitter.com/KQdFNgGloD

“Since the successful merger, the majority of blocks – somewhere around 40% or more – have been built with two addresses owned by Lido and Coinbase. It’s not ideal to see more than 40% of blocks,” Bitwise crypto research analyst Ryan Rasmussen explained. It is settled by two providers, notably a centralized service provider (Coinbase).

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Thomas E.
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Ethereum, The Clone Wars: Bloodbath on ETHPOW, ETHFair (ETF), Classic (ETC)

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Appearance a few days ago Ethereum new left – Plus an unforgettable keepsake for its viewers – A series of heirs in the form of different “prongs” of the original network. These more legitimate descendants are now somehow trying to preserve and revive the primordial heritage of their common ancestor. The first steps, marked by difficult market conditions and none of which seem to be able to emerge unscathed.

that all thorns

“Once there are more than two, authenticity evaporates” Explained in his time the writer Michael Pollack. Wise words, which crypto project creators don’t seem to care about, as much of the industry’s innovative energy often boils down to trying to replicate – Generally noticeably worse – or to occupy a still hot vacant niche due to this or that content of the industry, he went to conquer other territories (the note also applies in terms of the NFT set, but that’s another topic).

Such is the case with Ethereum forks, which, unlike Ethereum Classicwhose We sang the praises Recently, they seem to find it very difficult to keep their heads above water, a few days after they are born.

In fact, you know, we live now In a post-Ethereum merger world.

The second capitalization of the cryptocurrency market has, without any hindrances, made its downfall, taking it from its original model to proof of work (PoW, like the sheikh Bitcoin), to a model considered more efficient proof of stake (PoS) presented by its designers as being more suited to the challenges of tomorrow, particularly in terms of environment and energy.

Judging by the long-term significance of these last points, some side effects have already been felt in the ecosystem, in this case the emergence of several Ethereum forks, which share the maintenance of the initial PoW consensus model. Among them, ETHPow And the EthereumFair.

Classic, ETHPOW, Ethereum Fair: 3 ethers in the Desert

We were already talking in detail about ETHPow a few weeks agoas the designated potential heir and heir to the ancestral legacy created by Vitalik Buterin.

A ‘project’ is as fitting to keep the ‘real’ Ethereum torch alive as it fills the miners left behind in the transition process (of course, there have always been annoying people to shyly mention). Ethereum Classic Like the real real Ethereum, but let’s move on).

Anyway, nowThe disappointment is obvious. ETHPOW has been valued at IOU for the past few months at around $55, and is currently in full swing, just under $5, down 45% this weekend.

Ethereum ETHPOW price on September 19, 2022

Another pretender with the crown, Ethereum Gallery (ETF) which, if it fails to be a prince charming in the eyes of the market, is more like a prince who comes out (do you have that?). In fact, with the current price below $2, the Ethereum Fair doesn’t have many deals at the moment.

Ethereum fair cycle

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Let things be heard: loosely maintained, lacking the slightest guarantee of safety and likely not going anywhere, Le Journal du Coin discourages you from playing with the fire (and forks) of Ethereum.

However, as a fork worthy of that name, you can Take advantage of token customization If you hold ETH in your wallet not imprisoned (If you use fork-enabled platform services, such as Binance For example, you don’t have to do anything).

If you want to see these tokens, maybe transfer them to exchanges that support trading (FTX For example, for ETHPOW where Poloniex for Ethereum Fair), just add the two networks on Metamask.

To do this, open Metamask and go to Options “Add a network”

Add a network on Metamask

You will be taken to a page where you will need to enter some technical parameters.

To add ETHPOW network information

To add Ethereum Fair network information

These settings have been made, you should see your tokens appear. It is now up to you to decide if it is necessary to dispose of it before its value diminishes further, or if you prefer to play the long-term hold card, hoping for a winning payout.

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Check out Big Eyes Coin, Shiba Inu, and Floki Inu: Three Meme Codes That Offer Additional Services

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Meme tokens have grown exponentially over the years, as have tokens in other crypto industries, such as DeFi. Although they are based on memes or online jokes and thrive on hype, they have established themselves in the cryptocurrency industry and built strong communities for support. coin big eyes (big), Shiba Inu (SHIB) and Floki Inu (FLOKI) are good players in this industry.

However, unlike the original meme token, Dogecoin (DOGE), these meme coins have continued to offer additional features and incentives to their own communities to make their hype ship worth boarding. Here’s how Big Eyes Corner (BIG), Shiba Inu (SHIB), and Floki Inu (FLOKI) work.

Big Eyes Coin – New Kitty New Tool for Meme Coins

Big Eyes Coin (BIG) is a cute cat-shaped meme token growing on the blockchain. This meme coin aims to create a wealth building system for all of its users.

big eyes coin (big) Likely to replace wealth From the DeFi ecosystem to its users. It will give users access to more events that promote growth and wealth through NFTs.

In addition, Big Eyes Coin (BIG) intends to develop a reliable system that will power the 10 most popular NFTs in the world. Although this is not an ordinary exploit, it strives to achieve this goal using exceptional architecture.

Additionally, there will be no transaction fees or taxes for Big Eyes Coin holders. In addition, 90% of the project’s 200 billion mega tokens will be made available to the general public at launch.

Shiba Inu – Can He Beat Dogecoin Forever?

Shiba Inu (sheep) It is one of the largest meme coins in the cryptocurrency market, and it runs on the Ethereum blockchain. It was introduced with the aim of replicating the popularity of Dogecoin. The two pieces are similar in many ways, including the fact that they are based on the Shiba Inu dog meme.

Shiba Inu has continued its success and is currently ranked 12th by market capitalization. Its success is partly due to additional utilities, such as ShibaSwap and Shibaverse. While ShibaSwap allows users to trade cryptocurrencies, Shibaverse provides access to a social and educational virtual world.

These utilities enhance the original meme code, SHIB, as it facilitates interactions and transactions within the ecosystem.

Floki Inu – continue to provide extra benefit

Fluki Inu (Fluki) It’s another dog-themed meme that prefers to define itself as “action.” It is a cryptocurrency named after Elon Musk’s Shiba Inu dog and was created by supporters and members of the Shiba Inu (SHIB) community.

The project features three major utility initiatives: a content and educational platform called Floki Inuversity, an NFT and product marketplace called FlokiPlaces, and a gaming metaverse called Valhalla.

Floki Inu promises to be serious about his community involvement. It works with CryptoCart so that its holders can make purchases from more than 1,700 merchants.

It is also working on a similar collaboration with Curate (XCUR), which will enable Floki tokens to be used as a form of payment in the physical commodity market Curate.

While tokens can meme Potential to offer you huge returns In no time Big Eyes Coin (BIG), Shiba Inu and Floki Inu can offer a lot with their additional utilities. Big Eyes Coin is currently in the pre-sale stage to raise funds for its large projects.

Check out these links for everything you need to know about the project.

Pre-sale: https://buy.bigeyes.space/

website : https://bigeyes.space/

cable: https://t.me/BIGEYESOFFICIAL

German
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“Elrond has the same growth potential as ETH with a very experienced development team.”

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sextant-revue.fr:

Find without delay all the news of the moment and important news on the online magazine SexTant.

News People, the latest TV series, music, cinema, fashion, entertainment and much more useful information are waiting for you in your online news magazine.





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Are you thinking of investing in cryptocurrency? Here are 4 cryptocurrencies that are actually useful and not the ones you think

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It has been a difficult year for cryptocurrency investors. Even top-tier cryptocurrencies have lost up to 90% of their all-time highs, and many people’s wallets have been destroyed. Unfortunately, there is a good chance that prices will remain low for some time to come. Some see it as a buying opportunity, which it could be. But there is also a risk that many projects – especially those that are not very useful – will collapse before the market improves.

If you are considering investing in cryptocurrency, it is important to thoroughly research each project and think about its long-term performance. Look at leadership, how they stand up to competition, what they are actually doing, and who will use the product. As Mark Cuban, billionaire investor and cryptocurrency enthusiast pointed out, just being a cryptocurrency is not enough. For these projects to be successful, they still need to be able to make money, attract users, and be really useful.

Here are four real uses and they’re already in the works.

1. VeChain (VET)

VeChain started using blockchain as a supply chain management tool, and has since expanded to other business use cases. For example, let’s say you make luxury handbags. VeChain can follow every step of the handbag production and sale on the blockchain, so that the final buyer is guaranteed to receive an authentic product and not a counterfeit.

VeChain has also worked with Walmart China to track fresh meat and vegetables from farm to store. Better traceability means that if there is a problem with a particular batch of food, it is easier to contain and control quickly. Like the other cryptocurrencies on this list, VeChain is available on some, but not all, of the major cryptocurrency exchanges in the US.

2- Livepeer (LPT)

Video streaming is becoming increasingly popular and expensive. Video content must be processed so that it can be accessed on different devices with different frequency bands. This is called transcoding, which requires a lot of computer processing power.

Livepeer basically collects idle computing resources from a home network and uses them to convert videos. Content producers benefit from scalable and inexpensive transcoding, Livepeer does not need to purchase expensive infrastructure, and network participants receive LPT tokens, which have real world value.

3. Helium (HNT)

Helium is a decentralized wireless network backed by a network of long-distance access points. Helium was originally designed for Internet of Things devices, such as smart pet collars, self-driving cars or fitness devices, and is now expanding to 5G and WiFi connections. Network participants manage a helium hotspot and earn rewards for providing the connection.

The concept of using crypto tokens to reward participants is an interesting aspect of the blockchain. Livepeer and Helium are two of the many projects that reduce the company’s initial infrastructure costs by using a network of people to do the heavy lifting. These individuals earn a portion of the fee in a decentralized, community-based business model.

4. Cardano (ADA)

Cardano It is a type of encryptionlove or hate“And some may question its true value. It is an ecosystem like Ethereum (ETH) that can host other cryptocurrency projects on its own blockchain. Its critics point out that it has been slow to launch smart contract functionality, and that the ecosystem does not yet have as many applications as other cryptocurrencies.

However, Cardano has another trump card: it’s a great example of a true blockchain tool. For example, Cardano has partnered with the Ethiopian Ministry of Education to register the diplomas of five million students on the blockchain. This would make it more difficult to cheat the education system and could help students access opportunities such as university studies or international jobs. Another project on the Cardano network, called Empua, aims to help people with a lack of banks get money to build homes.

conclusion

If blockchain technology delivers a fraction of what it promises, it can transform entire industries. Medical records can be stored securely on the blockchain and you, the patient, can control how they are accessed. Insurance benefits can be paid automatically when certain criteria are met. You may even be able to store the bond in your home on the blockchain.

The problem is that the industry is still in its infancy and we don’t know much about how it will evolve, or even if it will succeed during the current crypto winter. Think of it like the early days of the internet. Everyone is looking for the next AmazonBut for every success story, there will be hundreds of failures.

As an investor, looking for really useful cryptocurrencies is a great start. At the same time, it is important to only invest money that you can afford to lose, and to ensure that cryptocurrencies make up only a small percentage of your total portfolio. So you can still invest in smaller, riskier ventures, but you won’t face financial disaster if they don’t realize their potential.

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Will “green” Ethereum entice investors significantly?

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Ethereum greener? – You can’t miss it. tea to merge It Happened, Everything Goes Well, Ethereum Is Now 100% Working proof of stake. The validators replaced the miners, which significantly reduced the electricity consumption associated with block production and the allocation of ETH.

Is Ethereum green the color of the future?

But is this Ethereumwhich thus becomes more Green color It will attract more investors, especially those who have not entered the blockchain today. It is the only argument Energy consumption Could it make you want to come and see what’s going on up close?

Because we must not forget that bad” Advertising ” From Bitcoin Mainly related to overconsumption ” and all Ideas received that revolve around. Of course, there are still the classic clichés of terrorism and money laundering. However, abstaining from consumption is a constant that we still hear often.

After the merger, is Ethereum greener?
After the merger, is Ethereum greener?

Will things change for Ethereum from now on?

Markus Thielen, chief investment officer at IDEG (Digital Asset Manager), said he has already had discussions with investors, and even central banks on a potential investment in ETH. But each time the possibility of placement is ignored. The excuse chosen is energy consumption.
With Ethereum moving to PoS, this clearly resolves this last pillar of concern. »

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A real shift among investors? Or decorate windows?

Vitalik The same highlights this reduction in consumption (almost 99%). Will attitudes change?

The move to a Proof of Stake network will make the future of money more dependent on the internet – Ethereum will become the layer of settlement that everyone will accept and trust – especially when it shines an ever brighter light on the issue of sustainability in cryptocurrency mining. »

Charlie Karaboga, CEO, Block Earner Company

The Electricity consumption It is an argument (often used exclusively to give themselves a good image and a good conscience) that companies see often. With this publicity that Ethereum is getting, is it possible that the blockchain will attract the funds that you have avoided thus far?

For many, moving to point of sale raises issues, especially with decentralization. But the simple change of ” Produce » Blocks will be enough to attract investors to the jig? Are they really going to do it for the right reason? for the simple picture environmental Instead of a real interest in this blockchain and its technology? The question is correct.

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Merge: Ethereum (ETH) in free fall?

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The merger, the Ethereum merger, is undoubtedly the most important crypto event of the week. The success of this merger indicates an increase in the price of $ETH. Bad analysis! There is already a significant drop in the price of $ETH. The drop in prices coincides with the speech of SEC President Gary Gensler after the merger.

$ETH drops despite successful merger, Gary Gensler comment has something to do with it

Ethereum Merge: Wow

Everyone agrees that the Ethereum merger is a success. On September 15, 2022 at 3:59 AM, Ethereum founder Vitalik Buterin confirmed himself Tweet The update was successful. This update, which will move the network’s consensus from business model (PoW) to Proof of Stake (PoS), went smoothly. Translation: A new era of cryptocurrency is about to begin.

ETH Drops Despite Successful Merger

Is it because of the statement made by the head of the dryGary Gensler? He had already insisted on expressing himself after the merger. His talk mostly focused on the need for more proof-of-stake crypto scrutiny. Gary Gensler, without speaking directly to Ethereum, said that cryptocurrencies can be cryptocurrencies Subject to the regulations on real estate values. Many believe that this statement from the head of the SEC is one of the factors that led to the bearish price movement of Ethereum.

The merger is considered a historic event in the cryptocurrency world. Everyone expected this to allow the cryptocurrency to recover. But Gary Gensler’s statement was enough to change everything. Will this proposal really materialize? Follow…

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Ariela's Avatar RASOANJANAHARY
Ariella Raswanganahari

My name is Ariella and I am 31 years old. I have been in the web writing field for 7 years now. I discovered trading and cryptocurrency only a few years ago. But this universe interests me a lot. The topics covered within the platform allow me to learn more. As a singer in my spare time, I also cultivate a great passion for music, reading (and animals!





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