CryptoAddicted

So which one?

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Hackers withdrew $ 24.5 million worth of tokens from the DeFi xToken protocol. On Wednesday, May 12, the xToken decentralized finance protocol was hacked. With the help of quick loans, hackers were able to withdraw various tokens from the project for a total of $ 24.5 million. The hackers received 2,400 ETH ($10.3 million), 781,000 BNT ($6.2 million), 407,000 SNX ($8 million) and 1.9 billion xBNTa. All tokens, with the exception of xBNTa, were sold for 5,600 ETH ($24.5 million).

The difficulty of mining bitcoin jumped by 21% and updated the historical record. Today, another recalculation of the difficulty of Bitcoin mining took place. The indicator grew by 21.53% at once and reached 25 trillion units - this is a new historical record. The previous maximum difficulty was reached on April 16 and amounted to 23.5 trillion. On May 2, the difficulty dropped to 20.6 trillion amid a decrease in hash rate due to the shutdown of Chinese miners. Over the past month, the average hash rate of the Bitcoin network has increased by about 10 Eh / s, which corresponds to the connection of about 100 thousand ASIC miners of the latest generation. The hash rate reached 179 Eh / s, so the difficulty jumped by more than 20% in one recalculation, which is quite rare in recent years.

Almost $4 billion was liquidated in the futures market during the Bitcoin pullback to $45,000. According to the analytical service Bybt, the volume of liquidations in the cryptocurrency market over the past day amounted to $3.72 billion, of which almost $2 billion fell on bitcoin. The Shiba Inu token (SHIB) was also among the leaders in liquidation, which Vitalik Buterin helped to collapse. Other major cryptocurrencies are losing 7% to 14% of their value today. Ether is back below $4,000, and Dogecoin is trading around $0.43, 40% below its five-day high.

The Central Bank of South Korea intends to track banking transactions involving cryptocurrencies. The Bank of Korea is seeking the ability to track cryptocurrency transactions carried out by users using bank accounts confirmed by the real name. The Korea Herald reported this with reference to a document recently presented to lawmakers. “We plan to use legal authority to request documents from financial institutions in order to track the volume of cryptocurrency transactions passing through bank accounts,” the Central Bank writes.

📈The Taiwanese company Phison Electronics has warned of an upcoming increase in prices for SSD-drives by at least 10% in connection with the excitement around the mining of Chia cryptocurrency. According to the company's forecasts, the equipment deficit will remain in 2022 and 2023.

🐶Yearnfinance gave away $420 in new Doge token for dog photos. The WOOFY token is pegged to YFI at a rate of 1 million to 1. Although YFI holders did not receive any additional tokens in connection with the launch of WOOFY, the airdrop did take place. One of the users in a commentary to the announcement called for sending photos of "yourself, in which a dog licks your face," to the lead developer of Yearnfinance banteg. Given the frivolity of everything that happens around Dogecoin, many ignored the offer. However, banteg decided to reward those who responded. Every person who posted a real photo received an airdrop of 5,000 WOOFY ($420)

Tesla has stopped accepting payments in bitcoin due to "large price for the environment." Electric car maker Tesla has ditched Bitcoin payments, having first started accepting payments just two months ago. According to the founder of the company Elon Musk on Twitter, the decision is due to concerns regarding the impact of bitcoin on the environment. “We are concerned about the skyrocketing use of fossil fuels in Bitcoin mining and transactions, especially coal, which has the worst emissions of all fuels,” Musk said in a post.

💰IRS partners with TaxBit to analyze cryptocurrency transactions. The Internal Revenue Service (IRS) has signed a contract with TaxBit, a provider of tax services for cryptoassets. This will help the US tax authorities to audit legal entities and individuals. TaxBit has announced that it has entered into a one-year contract with the IRS and said it will provide auditing services for cryptocurrency transactions to help the agency verify that large traders are filing tax returns for cryptocurrency transactions correctly.

❗️Vitalik Buterin collapsed the Shiba Inu and Akita Inu markets. Ethereum founder Vitalik Buterin buried the hopes of Shiba Inu (SHIB) and Akita Inu (AKITA) token holders. The creators of both meme projects, repeating the Dogecoin theme, blocked half of the emission of their tokens in the pools on the Uniswap exchange, and sent the other half to Buterin's address. He started selling yesterday evening. Buterin is transferring large volumes of tokens for sale on Uniswap. He sent part of the ETH he received as a donation in favor of Gitcoin. 13,300 ETH ($ 55 million) were transferred to the Coinbase wallet. Later, Buterin approved transactions from his wallet with the Dogelon Mars token (ELON), of which he also holds half of the emission. The SHIB token has already collapsed by 40%, and the AKITA by 50%. SHIB is losing even more on FTX and Binance futures.

Ethereum mining has surpassed Bitcoin mining in terms of revenue. Over the past few days, Ethereum miners have been earning more than their counterparts on the Bitcoin network. Block draws attention to this. So, the average daily indicator for the week in the networks of the two cryptocurrencies is $77 million and $67 million, respectively. A similar situation has developed several times in recent months, for example, in early February and late April. Analysts point out that this is starting to happen more and more, although historically Bitcoin was in the lead in this regard.

Solana (SOL) 📊 SOL has grabbed quite a few eyeballs lately, with Solana’s emergence as Ethereum’s competitor having a major effect on the alt’s price fortunes. In fact, over the course of 2021, the cryptocurrency has climbed from being valued at just under $2 to over $43. Like TRX and THETA, SOL too fell on the charts, with the crypto depreciating by over 10%. The said fall in value came on the back of an uptick worth over 14.5%. While the mouth of the Bollinger Bands was holding steady to suggest that some price volatility was availble, the Relative Strength Index was sipping towards the oversold zone on the back of the market’s corrections.

Theta (THETA) 📊 Like TRX before it, the last 24 hours saw THETA drop down the charts as well, with the alt losing almost 20% of its value over the said time period. Thanks to the same, the cryptocurrency was again valued at a level last seen a few weeks ago, with the lack of bullish momentum in the wider market discounting the likelihood of a significant recovery soon. Having hit its ATH less than a month ago, at press time, the altcoin was 36% away from the said level. While the Awesome Oscillator pictured a fall in market momentum, the Relative Strength Index had recovered somewhat to remain close to the oversold zone. Owing to Bitcoin’s corrections, the few bullish signs that were noted in a previous analysis had dissipated by press time.

Tron (TRX) 📊 On observation of its 4-hour charts, it was found that most of TRX’s recent price action has been terribly inconsistent, with the altcoin unable to sustain a price trend in either direction for a long time. Thanks to the aforementioned corrections, TRX was back trading at a level close to its late-May levels, with the crypto having lost almost 20% of its value in less than a day. While the recovery efforts over the last few hours were accompanied by a hike in trading volumes, a near-term switch in trend should be discounted. While the Parabolic SAR’s dotted markers were well above the price candles and pointed to the bearishness in the market, the Chaikin Money Flow was holding steady close to 0.20. This indicated that despite recent price hesitancy, capital inflows remained healthy. Tron was in the news recently after Justin Sun commented on Elon Musk’s plan to launch a DOGE satellite.

Dfinity made its debut in the top 10 cryptocurrency market with the highly anticipated launch of the "internet computer". The Internet Computer (ICP) token began trading on Binance and other major exchanges. With a current value of $360, ICP has a capitalization of $44 billion, which, according to CoinMarketCap, makes it the eighth largest asset in the cryptocurrency market. Internet computer "is an invention of the Swiss crypto startup Dfinity Foundation and promises to become the basis of a new decentralized Internet.

Hungary will halve the tax on cryptocurrencies in the hope of increasing budget revenues. Hungary will cut taxes on income from cryptocurrencies from 30.5% to 15%. This was announced today by the Minister of Finance of the country Mihai Varga in a video on Facebook. Varga spoke about the plans of the authorities to stimulate the economy for the next year, in particular about the upcoming tax breaks. The changes in the field of cryptocurrencies will take effect from next year. It is expected that thanks to this, the country's economy will be able to attract "multi-billion dollar" additional revenues.

📈Yearnfinance is up 40% and beats Bitcoin ahead of the release of its own variation of Dogecoin. The platform's own token to automate profitable farming in the decentralized finance (DeFi) space, Yearnfinance, surged 40% this Tuesday to a new all-time high above $78,000. In the previous phase, YFI lagged behind most DeFi tokens, however, as a result of the latest jump, it was able to surpass Bitcoin at the unit price. There is a good reason for YFI's growth. According to Twitter user BrotherMuozone, Yearnfinance's lead developer banteg has figured out how to attract users to the project using his own variation of Dogecoin.

⚡️The creator of EOS will open its own crypto exchange with a capital of $ 10 billion. Block.one, the company behind the development of the EOSIO blockchain protocol, has announced the creation of a new independent division, Bullish Global. By the end of the year, the firm intends to launch its own cryptocurrency exchange Bullish on the blockchain. Users are promised "improved performance, privacy and legal compliance provided by central order book technology with the vertically integrated benefits of a decentralized finance (DeFi) marketplace architecture." According to Block.one, Bullish Global has received over $10 billion in funding in digital and traditional currencies.