Mina Protocol

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An under-the-radar, low-cap Ethereum (ETH) competitor surged by more than 61% this week as a flurry of exchanges launched perpetual futures contracts for its native asset.
Ark (ARK) is an open-source, typescript-based, layer-1 blockchain protocol that aims to be simple and efficient.

The project’s native token is trading around $0.607, up from $0.375 one week ago. The 219th-ranked crypto asset by market cap is also up nearly 11% in the past 24 hours.
The project’s gains materialized this week as three notable exchanges launched ARK perpetual contracts. Binance, the largest crypto exchange in the world by trading volume, rolled out its ARK/USDT perpetual contract on Tuesday with up to 10x leverage.
On the same day, Seychelles-based crypto derivative trading platform Deepcoin also launched an ARK/USDT perpetual contract.
And on Friday, fellow Seychelles-based crypto exchange KuCoin also started offering an ARK/USDT-M perpetual contract. KuCoin’s contract has up to 20x leverage.
Futures trading is extremely risky, with the potential for big profits and devastating losses. It allows users to enter positions that are larger than their account balance, and perpetual contracts have no expiration date.
Despite ARK’s price gains this week, the asset remains 94% down from its all-time high of $10.22, which it hit all the way back in January 2018.
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The post Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings appeared first on The Daily Hodl.


An under-the-radar, low-cap Ethereum (ETH) competitor surged by more than 61% this week as a flurry of exchanges launched perpetual futures contracts for its native asset. Ark (ARK) is an open-source, typescript-based, layer-1 blockchain protocol that aims to be simple and efficient. The project&...

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Low-Cap Ethereum Competitor Skyrockets by 61% This Week Amid Flurry of Futures Contract Listings


Decentralized finance protocol Linear Finance has reported an attack that has resulted in liquidity being drained in its Linear USD (LUSD) token. It is the latest DeFi exploit in what has been a busy month for them so far. 



On September 21, Linear Finance reported that it was subject to an attack that resulted in the draining of all LUSD liquidity on both PancakeSwap and Ascendex.



DeFi Exploit Season



The attacker was able to mint an unlimited supply of LAAVE and subsequently traded the liquid asset to LUSD on the Linear Exchange. They then sold the tokens on PancakeSwap and Ascendex decentralized exchanges.



The team has halted all smart contracts and bridges on the protocol, it stated in a blog post. There have been no updates on the DeFi protocol’s X (Twitter) feed since the initial alert. 



The Linear Team said they have engaged an “industry-leading team to track the attacker(s) and bring them to justice.”




“Wallets known to have taken part in the exploit have been shared with all major exchanges and authorities. Restoring the protocol and un-doing the damage for our users will be our highest priority until the issue is fully resolved.”




There were no further details of the attack or the amount lost at the time of writing. 



        
          
            Read more: 15 Most Common Crypto Scams To Look Out For

          
        
      
    



The protocol supports cross-chain liquid and synthetic asset trading. It has a collateralized debt pool that allows users to deposit collateral to mint Linear USD, which is used to trade synthetic assets on the Linear Exchange.



The protocol is governed by the LINA token, which is used for voting and staking rewards. Furthermore, Linear Finance offers two main tokens: LINA is used for governance and staking, and LUSD is a stablecoin pegged to the US dollar used to trade synthetic assets.



LUSD Collapse 



According to DeFiLlama, Linear Finance’s total value locked is around $8 million. Moreover, it doesn’t appear to have tanked as a result of this DeFi exploit. 



The same cannot be said about the protocol’s stablecoin. LUSD collapsed to zero when the stablecoin liquidity pools were drained.



LUSD/USD 24 hours. Source: BeInCrypto



Remarkably, the protocol’s LINA token appears to be unaffected by the DeFi exploit. LINA was trading flat on the day at $0.011 at the time of writing. 



The DeFi token has actually gained 3.5% over the past week but remains down 96% from its March 2021 peak of $0.298.
The post Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero appeared first on BeInCrypto.


Decentralized finance protocol Linear Finance was attacked, resulting in the draining of all liquidity of its Linear USD (LUSD) token. The team has halted all smart contracts and bridges on the protocol.
The post Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero appeared first on BeIn...

beincrypto.com

Linear Finance DeFi Exploit Collapses LUSD Stablecoin to Zero

A widely followed crypto analyst is putting traders on notice regarding one Ethereum (ETH)-based Chainlink (LINK) rival.
The analyst and trader pseudonymously known as Altcoin Sherpa tells his 196,400 followers on the social media platform X that the decentralized oracle protocol Tellor Tributes (TRB) is setting up for a correction after rallying by slightly over 300% from mid-August.

“TRB: These crazy games are going to unwind eventually but this one had a big run given market maker activity. Looking for shorts around $40 – $45.”
In an attached chart, Altcoin Sherpa appears to be suggesting that Tellor Tributes could first rally toward the high of around $45 reached earlier this month before dropping to under $28.
Source: AltcoinSherpa/X
Tellor Tributes is trading at $38.45 at time of writing.
Turning to Bitcoin (BTC), the pseudonymous trader says that the flagship crypto asset is primed to break above a key resistance level.
“BTC: This squiggly is coming through. $28,000 is coming, don’t fight it.”
Source: AltcoinSherpa/X
Bitcoin is trading at $27,120 at time of writing.
On Bitcoin, crypto analyst Ali Martinez is also expressing a similar sentiment to Altcoin Sherpa. According to Martinez, BTC’s on-chain activity is currently suggesting the early stages of a bull run are underway.
“Bitcoin – A bull run is often characterized by increased on-chain activity!
This can be spotted when the monthly average of new wallets (red) surpasses the yearly average (blue), which indicates strengthened network fundamentals and increased use.
Notice that BTC on-chain activity is expanding despite stagnant prices, suggesting the BTC bull run may soon resume!”
Source: AltcoinSherpa/X
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Trader Issues Warning on Ethereum-Based Altcoin That’s Soared Over 300% in a Month, Updates Outlook on Bitcoin appeared first on The Daily Hodl.


A widely followed crypto analyst is putting traders on notice regarding one Ethereum (ETH)-based Chainlink (LINK) rival. The analyst and trader pseudonymously known as Altcoin Sherpa tells his 196,400 followers on the social media platform X that the decentralized oracle protocol Tellor Tributes ...

Trader Issues Warning on Ethereum-Based Altcoin That’s Soared Over 300% in a Month, Updates Outlook on Bitcoin

The second-largest stablecoin by market cap, USD Coin (USDC), is now available natively on the Ethereum (ETH) competitor NEAR Protocol (NEAR).
In addition to NEAR, USDC is also available natively on Algorand (ALGO), Arbitrum ( ARB), Avalanche (AVAX), Base, Ethereum, Flow, Hedera (HBAR), Noble, Optimism (OP), Solana (SOL), Stellar (XLM), and Tron (TRX).

Explains USDC’s issuer Circle,
“Developers can now take advantage of the speed and scalability of the NEAR blockchain to build fast, user-friendly apps with USDC and coded in popular programming languages like JavaScript and Rust.”
Top US crypto exchange Coinbase and Circle co-created USDC in 2018 and jointly managed the asset, which aims to maintain a peg to the US dollar, through the Centre Consortium until last month.
In August, Coinbase Chief Executive Brian Armstrong and Circle CEO Jeremy Allaire said that Circle would bring all of USDC’s governance and operations responsibilities in-house. The CEOs also noted that Coinbase planned to purchase an equity stake in Circle.
NEAR is trading at $1.10 at time of writing. The 42nd-ranked crypto asset by market cap is up more than 1.6% in the past 24 hours.
NEAR Protocol says it’s focused on scalability and stability. The project aims to allow developers to build decentralized applications at low cost.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Second-Largest Stablecoin USDC Launches on Ethereum (ETH) Competitor NEAR Protocol (NEAR) appeared first on The Daily Hodl.


The second-largest stablecoin by market cap, USD Coin (USDC), is now available natively on the Ethereum (ETH) competitor NEAR Protocol (NEAR). In addition to NEAR, USDC is also available natively on Algorand (ALGO), Arbitrum ( ARB), Avalanche (AVAX), Base, Ethereum, Flow, Hedera (HBAR), Noble, Op...

Second-Largest Stablecoin USDC Launches on Ethereum (ETH) Competitor NEAR Protocol (NEAR)

Toncoin moved closer to the $2.00 level on Wednesday, as markets reacted to the protocol’s partnership with Telegram. The agreement will see the token made available to over 800 million Telegram Wallet users. Stellar, on the other hand, was significantly lower, falling by nearly 8% today.
Toncoin (TON)
Toncoin (TON) was one of today’s biggest movers, as markets were buoyed by the news that it was partnering with Telegram.
Following a low of $1.73 on Tuesday, TON/USD rose to an intraday peak of $1.95 earlier in the day.
This surge resulted in toncoin rising by as much as 13%, nearing a recent high of $2.05 in the process.

Looking at the chart, the move led to the relative strength index (RSI) colliding with a ceiling at the 66.00 level.
Earlier gains have since faded as a result of a failed breakout beyond this point, leading to TON now trading at $1.93.
In order to move above $2.00, the aforementioned ceiling on the RSI must first be broken.

Stellar (XLM)
On the other side of the spectrum was stellar (XLM), which dropped by over 8% in today’s session.
XLM/USD bottomed out at $0.1195 on Wednesday, less than 24 hours after residing at a high of $0.1318.
This drop in price sees the token fall for a third consecutive day, falling below a floor at $0.1200 in the process.

It appears that today’s sell-off coincided with the RSI failing to remain above a point of support at 49.00.
Price strength is now tracking at 44.53, with the next visible zone of stability around the 37.00 region.
In the event that this level is reached, XLM will likely be trading under $0.1100.
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Will stellar continue to edge lower this week? Let us know your thoughts in the comments.



Toncoin moved closer to the $2.00 level on Wednesday, as markets reacted to the protocol&#x2019;s partnership with Telegram. The agreement will see the token made available to over 800 million Telegram Wallet users. Stellar, on the other hand, was significantly lower, falling by nearly 8% today. ...

Mina Protocol price	$0.381887
Low - High 24H	$0.379406 - $0.384817
Market cap	$371.87M
Volume 24H	$3.79M
All time high	$9.09 -95.79% June 1st 2021
All time low	$0.35734 6.97% September 11th 2023
Genesis date	N/A

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