DigiByte has had an excellent listing in the previous month, wherein the extending presence of DGB coin will lead to greater adoption. DigiByte is now available for trading on Binance, Bololex, OceanEx, CoinDCX, DigiFinex Global, Bilaxy exchange, WazirX, LBank Exchange, Bitcoin.com while it awaits to be on Coinbase sooner than ever. Moreover, DigiByte has also collaborated with many renowned digital wallets to leave no stone unturned.
(2) wallets-@Monarchtoken @SwipeWallet @VidulumApp; and (3) partnerships-@threefold_io @zelaapay and further collaborations with @v_id_blockchain (4) honorable mention-@UpholdInc reports #DGB as 3rd most purchased crypto after #BTC and #XRP. Too much #wow for one month! #crypto
— Michelle (@michelle_dgbat) July 7, 2020
With this, DGB as an altcoin which otherwise was believed to be laterally trading, apart from the altcoin season is now the 3rd most purchased crypto after Bitcoin and XRP. The growth and adoption that DigiByte has lured is just commendable as a platform and its token.
Moreover, as the adoption and demand of the token are seen spurring, the most renowned exchange—Bittrex, along with major coin like BTC, ETH and XRP has added DGB to the list of cryptos that are now available for purchase using the Instant button on their mobile app. The increase in demand has led to exchanges extending their service providence in terms of DGB.
— Bittrex (@BittrexExchange) July 9, 2020
Alongside, we even have a recent news about DigiByte collaborating with ThreeFold which provides peer-to-peer internet for empowering equality, independence and sustainability. This partnership is going to seize the best P2P Decentralized Internet Capabilities.
@DigiByteCoin collaborates with @threefold_io Grid To Further embrace the P2P Decentralized Internet Capabilities!
Read more about the wonderful exciting partnership:
https://t.co/pnNk8W87zT #Decentralization#Blockchain#P2PCloud#DecentralizedInternet#OpenSource#DigiByte pic.twitter.com/ba8i3t3o5L
— ThreeFold_Tech (@Threefoldtech) July 9, 2020
With an increase in platform activities, the price and adoption have thereby accelerated as networkers trust the development and evolution of DigiByte. The token on the price front is luring amazing investor groups for a long-term connection and investment in DGB.
DigiByte Price Analysis
On the 12-hourly chart, DigiByte is seen trading with noticeable momentum perfectly since April 2020. The coin had hit a fresh YTD high at $0.0267 in the first week of May as it strengthened after the massive sell-off in March. At this high, the coin has even reclaimed the 52-week high price which stood around $0.026.
Right after the recent high in May, the DGB coin has tested support as low as $0.01297 in the same month when it attained a fresh height. Presently, the coin trades with a 66% hike after the 7-week support but is facing a strict resistance at $0.0250 since more than 2-months now after hitting the recent high at $0.0267.
At the current trading price, DigiByte is holding a steady support from 50 and 200-days moving averages. The 20-day Bollinger Bands are not holding any trading extremities and so we do not project unprecedented volatility but is holding a bullish divergence due to intraday escalations. The MACD realizes the intraday momentum and holds a bullish crossover, similarly, the RSI is lying at 56.27 and holds no trading extremities.
Nym: The World’s First Generic Incentivized Mixnet Releases its Whitepaper
[PRESS RELEASE – Please Read Disclaimer]
In a time when mass surveillance and data harvesting are ever present and not a day goes by without news of companies selling user data for profit, Nym Technologies is building a next generation privacy network that can change the way people use the internet.
Chelsea Manning, a famous whistleblower and technologist, says “As methods for network traffic analysis have dramatically improved in the last decade, I have frequently called for research (most notably in 2016) into alternative methods to Tor that avoid exposing the data within the network to such analysis. Nym is one such viable alternative worthy of research, and developmental implementation.”
Nym was conceived in 2017 and was the first privacy project to receive funding from Binance Labs in 2018, followed by a $2.5M raise from other well known investors. Today, the actual design of Nym has been made public after extensive review by technologists like Chelsea Manning, academics like Carmela Troncoso, and venture capital firms like Polychain Capital.
Carmela Troncoso (EPFL) notes “I spent a long part of my career working on improving mix-based anonymous communications systems. It is thrilling to see how the Nym team, a unique combination of expert software engineers and privacy experts, have made mixnets a reality.”
The Nym network is a generic, decentralized, and incentivized infrastructure that provides privacy to a broad range of applications and services, including any blockchain. A core component of Nym is a mixnet that protects the metadata of the internet packets sent to it with privacy superior to both VPNs and Tor.
Metadata is “data about data”, and includes IP addresses of the users, geolocations, information about who talked to who, when, and how often. All of this metadata can be monetized or used without users knowledge. Now it can be protected by Nym.
Anyone can join the network by running a node and get rewarded in NYM tokens for providing privacy to the network. Nodes do useful work anonymizing packets for users and services.
NYM tokens can be transformed into anonymous credentials that allow users to privately prove their “right to use” of services in a decentralized and verifiable manner. This allows users to be private at the network level as well as the application layer. Cosmos and the European Commission are amongst the many who have been supporting the use of Nym’s anonymous credentials.
The 3rd-party applications and services that can integrate their systems to the Nym network to protect their users from malicious actors and preserve their privacy range from crypto apps (wallets or DeFi projects) to messaging applications, IoT devices, or literally any data transfers over the internet that can leak metadata.
Currently, Nym is running an incentivized testnet with a 1500 capped number of nodes on the Liquid network, but this limit will raise in the next major release due to the high demand of people who want to join the network and test its features out.
Throughout human history, privacy has been considered a great asset and a prerequisite for freedom. However as privacy was not built into the fabric of the internet, power is now in the hands of a few powerful players. Nym is setting off to change this and give power back to users so they can decide if and how they reveal their data. To know more about the technicalities, read the whitepaper or join the Nym Telegram channel to stay up to date.
This bullish Bitcoin options strategy lets traders speculate on BTC price with less risk
Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not terribly risky.
Options strategies provide excellent opportunities for traders who have a fixed-range target for an asset. For example, using leveraged futures contracts might be a solution for a scenario where one expects a price increase of up to 28% over the next month. Of course, using a tight stop loss lessens the viability of the trade.
On the other hand, using multiple call (buy) options can create a strategy that allows gains that are four times higher than the potential loss. These can be used in both bullish and bearish circumstances, depending on the investors’ expectations.
The long butterfly strategy allows a trader to profit from the upside while limiting losses. It’s important to remember that options have a set expiry date; therefore, the price increase must happen during the defined period.
The Bitcoin (BTC) calendar options below are for the March 26 expiry, but this strategy can also be used on Ether (ETH) options or a different time frame. Although the costs will vary, its general efficiency should not be affected.
The suggested bullish strategy consists of buying 1 BTC worth $48,000 call options while simultaneously selling double that amount of $56,000 calls. To finalize the trade, one should buy 1 BTC worth of $64,000 call options.
While this call option gives the buyer the right to acquire an asset, the contract seller gets a (potential) negative exposure.
As the estimate above shows, if BTC is trading for $48,700, any outcome between $49,380 (up 1.5%) and $62,630 (up 28.6%) yields a net gain. For example, a 10% price increase to $53,570 results in a $4,000 net gain. Meanwhile, this strategy’s maximum loss is $1,350 if BTC trades below $48,000 or above $64,000 on March 26.
This allure of this butterfly strategy is the trader can secure a $4,050 gain, which is 3x larger than the maximum loss, if BTC trades from $53,550 to $58,460 expiry.
Overall it yields a much better risk-reward from leveraged futures trading considering the limited downside.
The multiple options strategy trade provides a better risk-reward for bullish traders seeking exposure to BTC’s price increase and the only upfront fee required is the $1,350 which reflects the maximum loss if the price is below $48,000 or above $64,000 at the expiry date.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Transaction batching protocol Furucombo suffers $14 million “evil contract” hack
The latest “evil contract” exploit has netted an attacker over $14 million in stolen funds.
Furucombo, a tool designed to help users “batch” transactions and interactions with multiple protocols at once, fell victim to the attack which centered on token approvals from users.
The attacker’s address currently has $14 million worth of various cryptocurrencies, but the attack appears to be larger as they have been transferring ETH to privacy mixer Tornado Cash in batches over the last hour.
This attack is conceptually similar to the $20 million “evil jar” attack that struck Pickle Finance last year, as well as the $37 million “evil spell” exploit that hit Alpha Finance earlier this month. In these “evil contract” exploits, an attacker creates a contract that fools a protocol into believing it belongs there, giving them access to protocol funds.
So what happened to Furuсombo
An attacker using a fake contract made Furuсombo think that Aave v2 has a new implementation.
Because of this, all interactions with ‘Aave v2’ allowed transfers approved tokens to an arbitrary address. pic.twitter.com/gQVxJqiAmL
— Igor Igamberdiev (@FrankResearcher) February 27, 2021
In this case, the attacker ‘tricked’ the Furucombo protocol into thinking that their contract was a new verison of Aave. From there, instead of draining funds from the protocol as in previous evil contract exploits, the attacker instead leveraged the ability to transfer the funds of every user who had given the protocol token permissions.
“Infinite permissions means you can wipe everyone who interacted with Furucombo,” said whitehat hacker and co-founder of DeFi Italy Emiliano Bonassi in a statement to Cointelegraph.
This type of exploit appears to be growing increasingly popular, now accounting for over $70 million in user funds lost in just a few months.
The team confirmed the attack in a Tweet, saying that they “believed” they’d mitigated the exploit but recommended revoking permissions “out of an abundance of caution:”
Today at 4:47 PM UTC the Furucombo proxy was compromised by an attacker. We have deauthorized the relevant components and believe the vulnerability to be patched but we recommend users remove approvals out of an abundance of caution.
— FURUCOMBO (@furucombo) February 27, 2021
Users can leverage tools like revoke.cash to do so.
The attack comes during a period of wider reflection in the DeFi world on security and the utility of auditing companies. In the last three months, three different auditing and code review services have emerged, each with a different incentive model designed to encourage more thorough and dynamic security practices.
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