Massive MEV Reward Blocks Generated by Curve Finance Exploit Spark Ethical Concerns in Ethereum Community
The recent exploit on Curve Finance has resulted in some of the largest Maximal Extractable Value (MEV) reward blocks in Ethereum's history. MEV refers to the potential revenue that can be extracted from reordering or inserting transactions in a block to create arbitrage opportunities. MEV bots are designed to capitalize on such opportunities, often by front-running transactions to gain an advantage.
Mike Novogratz's Investment Portfolio for High-Risk Tolerance Investors: Combining Traditional and Digital Assets
Mike Novogratz, the founder of Galaxy Digital, shared his investment recommendations for young investors with a high-risk tolerance in an interview with Bloomberg Wealth. He suggests a portfolio that combines traditional assets like Alibaba, silver, and gold with leading cryptocurrencies Bitcoin and Ethereum.
Ethereum ICO Participant Moves $1.2 Million Worth of Ether After 8 Years of Inactivity
An Ethereum address that participated in the initial coin offering has transferred out 641 ether, worth almost $1.2 million, after eight years of inactivity. The move was made in order to stake the ether. The address had received 2,000 ether from Ethereum's genesis at a price of around $0.31 per coin, which is now worth over $3.72 million.
Memecoin Madness Hits Coinbase's Base Network with 289,000% Gains and Rug Pulls
Coinbase's Ethereum layer-2 scaling solution Base has seen a surge in memecoin trading, with tokens like "BALD" experiencing gains of up to 289,000% within the first 14 hours of trading. However, these tokens have no official website, purpose, creator, or utility, and investing in them should be treated as gambling adjacent. Some investors managed to score a 100,000% return on a relatively small initial investment, but there is also the potential danger of scams, rug pulls, and severe financial losses.
Ethereum Price Struggles to Clear Key Resistance Level, Faces Potential Decline
The price of Ethereum is facing difficulty in surpassing the $1,880 and $1,900 resistance levels against the US Dollar, and may experience a fresh decline if it remains below them. The cryptocurrency is currently trading below $1,875 and the 100-hourly Simple Moving Average, and struggling to rise above a key bullish trend line. However, if it manages to break above the $1,900 level, it could potentially rise towards the $1,950 and $2,000 levels. On the downside, initial support is near the $1,860 level, followed by major support at $1,850 and $1,780.
Ethereum Sees Record-Breaking MEV Rewards in Recent Blocks
On July 31, 2023, Ethereum experienced some of its largest Miner Extractable Value (MEV) reward blocks in history, according to blockchain researcher Eric Conner. MEV refers to the amount of value that miners can extract from a blockchain by reordering transactions and manipulating the order in which they are processed.
Curve Finance Factory Pools Suffer $26 Million Outflow Due to Reentrancy Vulnerability Exploited by Flashloan and MEV Bots
Curve Finance's factory pools have been hit by a reentrancy vulnerability, which allowed attackers to drain funds or exploit the contract's logic. The vulnerability led to significant outflows across various associated pools, resulting in over $26 million being lost. The attacker targeted Curve's factor pools of multiple projects, including JPEGd, Metronome, and Alchemix. The attack involved a sequence of interactions initiated with a flashloan, which appears to exploit the reentrancy vulnerability associated with certain compiler versions of Ethereum smart contract programming language Vyper. Investigations are ongoing, but there are speculations that whitehat hackers could be involved in a rescue operation.
OpenSea's Ethereum and Polygon NFT Sales Hit Lowest Point This Year
According to data from Dune Analytics, the monthly sales volume of Ethereum and Polygon-based NFTs on OpenSea has hit its lowest point this year, with a total sales volume of $120.79 million at the end of July, representing an 82% drop from the February high. Similarly, Polygon-based NFTs on OpenSea have experienced a 98% decline in sales volume since February, with a sales volume of only $8.35 million in the last 30 days.
The Total Transaction Volume of the 8th Anniversary of the Launch of the Ethereum Mainnet Reached 9.93 Billion ETH
According to CoinGecko data, on July 30, 2015, Ethereum was officially launched. The genesis block with block height 0 was born at 03:26:13 UTC and provided a block reward of 5 ETH. At present, the Ethereum mainnet has been in operation for 8 years. At present, the total number of transactions in Ethereum has exceeded 2.05 billion Txns, the total number of addresses has reached 296 million, the number of contract addresses has reached 61.61 million, and the total transaction volume has reached 9.93 billion ETH.
Kraken Cryptocurrency Exchange Resolves Issues With Ethereum Funding Gateway
Kraken, a cryptocurrency exchange, announced on Sunday that it has resolved issues with Ethereum's funding gateway. The exchange stated that all systems are now operational but did not provide any details on the cause of the issue. Earlier on Sunday, Kraken had reported that it was investigating the issue, which could have caused delays in deposits and withdrawals. Ethereum is the second-largest cryptocurrency in the world.
