From a new Bitcoin warning to the latest support for XRP, Litecoin and Bitcoin Cash, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
As Bitcoin clings to $5,000, Bloomberg is issuing a new warning about where the price of BTC may be heading.
The GTI VERA Convergence Divergence indicator “sent its first sell signal since mid-March. The shift could suggest further downside may be ahead as the coin flirts with its highest levels of the year.”
The technical gauge is designed to identify market reversals and exhaustion. It utilizes typical moving average convergence divergence (MACD) and looks to remove excess noise, using a proprietary theory called volatility explosion relatively adjusted (VERA).
According to George McDonaugh, chief executive officer at London-based blockchain investment company KR1 Plc, a drop lower for Bitcoin would only be natural.
“When Bitcoin jumped significantly a few weeks ago, the volume was big enough to push up through major resistance levels into a potentially new trading range. Current movements are natural market cycles within a trading range, and it’s just the market searching out the lower bounds.”
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Ethereum
The latest edition of EthHub Weekly is out, covering all things Ethereum.
The new post looks at developments on Ethereum 2.0 and a number of Ethereum-based platforms, including Maker, which is comprised of a decentralized stablecoin, collateral loans and community governance, and AirSwap, a peer-to-peer trading network.
Ripple and XRP
Ripple’s global head of banking Marjan Delatinne just sat down for an interview at the 2019 Penn Blockchain Conference.
Delatinne talks about her efforts to engage with companies in the financial industry and demonstrate how blockchain can boost their bottom line.
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XRP, Litecoin, Bitcoin Cash
eToro’s regulated crypto exchange and wallet eToroX just launched seven new pairs for XRP, Litecoin and Bitcoin Cash. The pairs are BCH/BTC, LTC/BCH, BCH/ETH, XRP/ETH, LTC/ETH, BCH/XRP and LTC/XRP.
IBM has released a new video on its Stellar-powered World Wire remittance platform. Lead developer Seema Phalke talks about how the platform works and the advantages of using Stellar’s technology.
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Tron
Tron’s latest weekly report is out. The new edition reveals new progress on BitTorrent Speed which will integrate the Tron-based BitTorrent Token (BTT) with the file-sharing platform. The report also looks at the recent release of the Tron-based Tether (USDT) token.
Fintech Startup Fluidity announced its plans to launch a project that will log mortgages onto the Blockchain network.
At the Fluidity Summit held on May 9th, the company released its schedule to develop the first Ethereum-powered mortgages in New York and California. The service is set to launch this summer and is expected to feature lower rates when compared to traditional loans.
The chief architect of Fluidity, Todd Lippiatt, said:
“We’ll tokenize the house, which will effectively take the collateral that is the equity of the house. You’re pledging the house and you get an advanced rate back in terms of dollars.”
The startup’s upcoming mortgages are expected to use Cryptocurrency and smart contracts for back-end management. Lippiatt said that Fluidity is currently looking for partnerships with Ethereum-centric lending platforms like MakerDAO’s dollar-pegged DAI loans.
Borrowers must submit online credit checks and all other essential information just like in any other online loan platform. Fluidity will then process the information and create a smart contract using a tokenized representation of the mortgage. The company can then package these loans together and resell them as securities via an exchange like AirSwap. Fluidity plans to offer cheaper rates compared to banks, with borrowers going through a process similar to a traditional loan.
The whole process provides the borrower with a quasi-traditional mortgage. The issuer and the subsequent traders are the main beneficiaries of this blockchain system functionality. Lippiatt noted that the demographics of the underbanked and low-income borrowers are a prime fit for such loans.
Also Read:
French Multinational Bank Societe Generale sells $112 million worth of Ethereum bonds
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This week, the various corners of the Ethereum ecosystem have been filled with a particularly lively flurry of activity.
First up, there’s MAD Stores — think “Mutually Assured Destruction.” Created by Ethereum developer Alejandro Diaz and announced on Wednesday, Turms MAD Stores is an anonymous and decentralized marketplace that leverages Ethereum smart contracts in order to avoid needing a backend server at all.
In the reveal, Diaz characterized the marketplace as akin to a “completely decentralized” and more private version of eBay:
“Another difference between ebay and MAD Stores is that sellers can remain anonymous, or at least pseudonymous; that is, buyers and sellers are only known by their Ethereum addresses (or ENS names).”
Those making deals can use the relatively new Turms Anonymous Message Transport system, another project Diaz has worked on. Turms AMT can make encrypted comms between Ethereum addresses.
Moreover, the MAD smart contracts provide escrow functionalities, a product category ledger, and the ability to record a seller’s inventory and information about it.
Buyers and sellers are protected according to the aforementioned principle of Mutually Assured Destruction. If a party on either side of a deal tries to scam the other, both users’ escrowed funds will be burned.
Another Ethereum Mixer Steps Up to the Plate Various mixers have been proposed in the Ethereum ecosystem recently (e.g. Heiswap), and the latest oncomer is the Tornado mixer, which is backed by the zk-SNARKS privacy tech — also known as “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge” transactions.
The mixer is notably non-custodial, meaning users can facilitate private Ethereum-based trades right from the comfort of an address of choice rather than having to first deposit ether (ETH) onto a centralized exchange.
The Tornado mixer was just released on the Kovan testnet, so it’s not ready for a production environment status just yet. But its progress is heartening for many Ethereum community stakeholders who have been lobbying for solid mixer resources in recent times.
Pooled cDAI Built to Help Ethereum Funding For the past few weeks, EthHub co-founder and Gnosis team member Eric Conner has floated the idea of launching a pooled fund comprised of the Dai stablecoin, the interest of which could be put toward Ethereum development activities while at the same time allowing investors to pull out their principal investments when all was said and done.
Now, an early example of that model has officially been put forth in the Pooled cDAI project. As the effort’s GitHub explains, it does the following activities:
“[…] Pools DAI, converts it into Compound DAI, and sends interests to a beneficiary. Users putting DAI into the pool receives Pooled cDAI (pcDAI), an ERC20 token which is 1-for-1 redeemable for DAI at any time.”
Introducing Pooled cDAI, an ERC20 token template allowing people to pool DAI together, lock the DAI into @compoundfinance , and send the interests to a beneficiary. Locked DAI can be withdrawn *at any time*. Kinda like generalized @PoolTogether_ . #DeFi https://t.co/jX6ZAANhdf
— zefram.eth (@boredGenius) July 25, 2019
Chalk it up as another novel open-source development funding avenue that could be explored by all sorts of entities in the cryptoeconomy, not least of which are Ethereum stakeholders looking to boost development prospects in the blockchain’s ecosystem.
Wow! Someone already built the community interest fund idea.
I love this community. https://t.co/owmaeSyT50
— eric.eth (@econoar) July 25, 2019
Speaking of the Dai stablecoin, it’s also worth mentioning that the MakerDAO team that oversees the dual MKR-DAI ecosystem has opened up a bug bounty campaign for the coming Multi-Collateral Dai offering, which will ultimately allow users to take out collateralized debt positions (CDPs) using assets beyond ether.
You all know what this means… soon™️ https://t.co/6kVa7G3rLk
— DeFi Pulse (@defipulse) July 25, 2019
Real World, Off-Chain Assets to Underpin Maker CDPs? Speaking of opening up CDPs with assets beyond ether, what about doing so with off-chain assets like physical property?
That’s what Fluidity — the builders of the AirSwap crypto exchange — are planning with their Tokenized Asset Portfolio roadmap.
Today @fluidityio introduced the Tokenized Asset Portfolio (TAP) —
A model enabling real world assets to be pledged as collateral in decentralized credit facilities —
Including the MakerDAO multi-collateral Dai system cc @makerdao $dai #ethereumhttps://t.co/0wgHQaQ5dD
— Michael Oved (@ovedm606) July 25, 2019
Reasonable people can agree or disagree as to whether off-chain assets being used to secure Dai loans is a shrewd idea, but what’s clear is that the DeFi horizon is growing day by day.
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
AirSwap reported that their development team had detected a ‘critical vulnerability’ in a recently launched AirSwap smart contract. According to a blog released on medium, AirSwap, a decentralized token-trading platform built on the Ethereum blockchain, revealed that on 12th September, the internal security review team recognized a major flaw in the mainnet of the smart contract.
The vulnerability would have allowed any hacker to perform a swap with another party without requiring their signature. It was stated that the tainted code was active in the system for less than 24 hours and only a few addresses were affected. The article stated,
“When the issue was detected, the team immediately rolled back AirSwap Instant to use the original smart contracts. Both the AirSwap Instant and Trader products are no longer affected by the vulnerability.”
The AirSwap team also carried out a few remediations after the vulnerability was reported. Dev team initiated identification of affected users and started the process of de-risking [process of protecting user asset without alerting the network]. All vulnerable components were removed from the production AirSwap UI and from all related tools.
AirSwap released a statement of apology and remarked,
“We would like to deeply apologize to our affected users for any inconvenience these vulnerabilities may have caused, and hope that the important lessons we continue to learn throughout these processes form the basis for a more open, secure, and efficient trading environment.”
AirSwap is a non-custodial platform for peer-to-peer over-the-counter (OTC) and request for quote (RFQ) trading of Ethereum ERC-20 tokens and non-fungible tokens (NFTs), which enables individuals and trading firms to swap tokens directly with each other.
The platform is decentralized because AirSwap does not control the users’ funds and trading execution is done via smart contracts.
AirSwap’s peer-to-peer swaps are non-custodial and atomic, which the platform claims helps to eliminate counterparty and intermediary risk, since there are no deposits or escrow.
The platform has the advantage of a decentralized exchange (DEX) in that users are in complete control of their funds until the trade is executed, so either both parties get what they traded for or neither does.
Who invented AirSwap?AirSwap was invented by Michael Oved and Don Mosites, with backgrounds in finance and technology respectively.
Following the publication of the Swap Protocol whitepaper in 2017, the pair created a partnership between their company Fluidity and ConsenSys, and branded the initial implementation as AirSwap. AirSwap launched its network and token on October 10, 2017.
Did you know?Crypto investors Mike Novogratz, CEO of Galaxy Digital and Joseph Lubin, CEO of ConsenSys, are both advisors to AirSwap.
What’s so special about AirSwap?Centralized exchanges require users to trust in the exchange to safely keep their money for them and not get hacked, break the law, or make any unwise decisions.
On the other hand, decentralized exchanges in which trades happen completely on the blockchain are vulnerable to issues such as maximal extractable value (MEV), in which miners or validators rearrange transactions in order to extract the maximum possible value from the trade.
By design, AirSwap’s trade execution happens directly from one wallet to another wallet at the same time, which the platform claims mitigates against the danger of front running or MEV.
AirSwap is also a self-sustaining decentralized autonomous organization (DAO), in which protocol fees on swaps are automatically routed to pools that support project governance and development.
What else is different?AirSwap differs from fully on-chain DEXs like Uniswap in a number of ways.
On-chain DEXs typically use automated market makers (AMM) to determine price during execution based on a constant product formula. These transactions are without intermediaries and involve one party depositing "liquidity" beforehand and another party later taking it.
This means that depositing and swapping against the AMM is easy and does not require makers to be online and available for pricing. However, AirSwap argues that managing pricing strategies on DEXs is limited and costly, with heavier on-chain logic leading to higher gas costs, while front-running and market manipulation are possible.
AirSwap touts its “flexible” protocols, which can support several kinds of trading, between two individuals or an individual and several trading firms, trading ERC-20s, NFTs, and other digital assets. Products utilizing these protocols include RFQ, LastLook, OTC, and NFT marketplaces.
How is AST produced?In October 2017, AirSwap launched the AirSwap Token (AST). Of the 500 million AST total supply, 150 million were sold during the token launch. Today, around 200 million are in circulation with the remaining tokens held in a multi-signature treasury wallet currently managed by Consensys Mesh.
How do you get hold of AST?AST is an ERC-20 token that can be traded on AirSwap and other DEXs—or on reputable centralized exchanges like Coinbase and Binance.
What can you do with AST?AST is a membership token that enables holders to perform a number of different functions. These include:
Being a maker: AST enables makers to announce their availability on the AirSwap network. Currently the staking requirements for makers on Ethereum are 100K AST for each server and 100 AST for each token supported. These requirements vary depending on the deployed EVM chain. Participate in governance: With the introduction of the DAO in 2021, AST now also enables holders to stake to a decentralized governance system and participate in proposal (AIP) votes. Participants in votes earn a claim on a portion of the protocol fees generated by trades on the DEX. Earn a swap bonus: Members with staked AST receive a bonus on swaps performed on AirSwap, which essentially directs a portion of the protocol fee directly to the member’s wallet during a swap. Editor's note: This article was first published in October 2019 and updated in September 2024.
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AirSwap’s native token, AST rose as high as 115%, driven by renewed interest from whales and a favorable technical setup.
According to data from CoinGecko, AirSwap (AST) rose to an intraday high of $0.071 on June 23 afternoon Asian time, extending its gains to 255% from its year-to-date low of $0.020.
AirSwap rallied as the global crypto market cap dropped roughly 3% to $3.2 trillion on the day. Major assets, including Bitcoin (BTC) and Ethereum (ETH), continued to trend downward, weighed by escalating geopolitical tensions in the Middle East and shifting investor sentiment toward safe-haven assets.
By press time, AST had cooled off to $0.051, trimming its daily gain to approximately 51%. However, technical and on-chain indicators suggest the token may still be poised for further upside.
On the 4-hour/USDT chart, AST has decisively broken out of a multi-week descending channel, typically seen as a reversal signal when followed by volume confirmation. In addition, the token completed a breakout from a bull-flag pattern, a continuation pattern that often signals further upward momentum.
AST price, 50-day and 200-day SMA chart — June 23 | Source: crypto.news Notably, AST is now trading above both the 50-day and 200-day simple moving averages. The 50-day SMA appears on track to cross above the 200-day SMA, a technical formation known as a golden cross, which is traditionally seen as a bullish long-term signal.
On top of that, the MACD lines have pointed upwards, while the Supertrend indicator has flipped to a green signal, reinforcing the short-term bullish bias.
AST Supertrend and MACD chart — June 23 | Source: crypto.news From a price-action perspective, AST may attempt to retest its recent high of $0.071. A successful breakout above this level could open the door to a rally toward the next resistance at $0.095, which was last touched in April.
Whale accumulation appears to be a key catalyst driving the move. According to CoinMarketCap data, whales currently control 83.8% of AST’s circulating supply, a trend that retail traders often track for cues on institutional sentiment.
Concurrently, total AST balances on exchanges have dropped by over 21% in the past three months.
On the development front, the AirSwap team has also scheduled a community call on June 25 to discuss upcoming DAO-related initiatives. The announcement has stirred renewed engagement across the AirSwap ecosystem, which could sustain attention in the short term.
Despite the bullish setup, there remains a key risk for investors. According to data from CoinMarketCap, the top 10 holders currently control nearly 80% of the circulating supply. This high degree of concentration introduces a vulnerability to sudden sell-offs or price manipulation, which could create volatility in the absence of strong demand-side support.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
7 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
7 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
7 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
7 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
7 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Binance, one of the world’s largest crypto exchanges, has shortlisted 10 altcoins for close monitoring, with potential for delisting.
This review, set to take around 30 days, reflects Binance’s attempts to enhance market quality.
Binance Shortlists 10 Altcoins For Potential DelistingFollowing its announcement to list GoPlus Security (GPS), Binance shared another update detailing extending its monitoring tags to 10 altcoins.
Specifically, Aergo (AERGO), Alpaca Finance (ALPACA), AirSwap (AST), Badger DAO (BADGER), BurgerCities (BURGER), COMBO (COMBO), NULS (NULS), STP (STPT), UniLend (UFT), and VIDT DAO (VIDT) are now on the list, effectively placing them on high risk of delisting.
“Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance explained in a blog.
Accordingly, Binance has implemented a new requirement for users looking to trade any tokens marked on its Spot trading and Margin platforms. To gain access, traders must pass a risk-awareness quiz every 90 days. This measure ensures that users understand the risks associated with these tokens before engaging in trades.
The exchange emphasized that this shortlisting does not guarantee delisting. Binance will conduct periodic project reviews and decide whether to add or remove the Monitoring Tag. Notably, this decision will hinge on current findings after the review process.
Nevertheless, this assurance did not assuage token holders. In the immediate aftermath of this potential delisting announcement, the values of the 10 cited tokens dipped, posting double-digit losses as investors traded the news.
AERGO, ALPACA, AST, BADGER, BURGER, COMBO, NULS, STPT Price Performance. Source: TradingViewNotably, tokens with the Monitoring Tag present high risk due to concerns spanning regulatory uncertainty, low liquidity, or extreme volatility. Binance displays this tag on the corresponding Spot and Margin trading pages and the Markets Overview section. Additionally, the exchange shows a risk-warning banner whenever users interact with these tokens.
Citing community feedback, the leading exchange by trading volume said its monitoring tag would now be updated monthly. Nevertheless, it will continue to review the removal of Monitoring and Seed Tags quarterly.
“New projects will be added in the first week of every month,” the exchange added.
By enforcing this requirement, Binance aims to educate and protect its users, ensuring they make informed decisions. The move reflects the exchange’s increasing focus on risk management and compliance in a growing regulatory environment.
Meanwhile, the drop seen across the affected tokens is unsurprising, presenting as a typical reaction to such announcements. For instance, in December, Binance’s decision to delist three altcoins sent affected tokens down a cliff to record double-digit losses.
Conversely, listing announcements have the opposite effect. BeInCrypto reported earlier how Binance exchange’s move to list GPS sent the token soaring by over 10%.
Binance has sparked market discussions with its latest move to delist five tokens from its platform. This has raised market concerns over a potential crash of the tokens in the coming days. According to the announcement, the crypto on the list are AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA).
Binance To Remove These Cryptocurrencies; Here’s Why Binance recently announced to delist AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA) from its platform, sparking market concerns. Notably, the leading exchanges often have great influence in the market and any major announcement from them could impact the asset’s prices.
For context, the exchange has recently extended its support for Broccoli and other cryptocurrencies. Following its announcement, all the crypto prices have skyrocketed, reflecting the heavy influence of the exchange. Considering that, the latest delisting announcement could trigger a widespread selloff of the mentioned tokens.
Meanwhile, the crypto exchange said that it often conducts periodic evaluations to ensure compliance with industry standards. Failing to meet the criteria results in the delisting of the tokens. The exchange mentioned several aspects behind its delisting decision like project commitment, trading liquidity, regulatory concerns, and security risks.
A Closer Look Into The Binance Announcement The exchange will halt trading for AERGO, AST, BURGER, COMBO, and LINA starting March 28 at 03:00 UTC. Several key services, including futures contracts, margin trading, and staking options, will be stopped before the official removal date. Notably:
Binance Futures will close all positions and conduct an automatic settlement for AERGOUSDT, COMBOUSDT, and LINAUSDT perpetual contracts on March 27 at 09:00 UTC. Margin Trading for the affected tokens will be disabled from March 26 at 06:00 UTC, with users advised to close positions before liquidation. Deposits of these tokens will not be credited after March 29, and withdrawals will be unsupported after May 27. In addition, the exchange said that it will introduce a Vote to Delist feature, allowing the community to have a say in future delisting decisions. However, the current batch of delisted tokens will not be part of this initiative.
How These Five Tokens Are Performing? AERGO price was down more than 6% to $0.06845 following the Binance announcement, with its trading volume soaring 43% to $30.46 million. On the other hand, AST price plunged about 28% to $0.03375 with its one-day volume rocketing 88% to $5.25 million.
Simultaneously, BURGER price retreated 48% to $0.1127 while COMBO price declined 20%. Linear Finance price also recorded a slump of over 32%, indicating the waning market interest in the tokens.
