The sell-off in the crypto market has continued this weekend with bitcoin (BTC) briefly dipping below USD 10,000 on Saturday. Since Wednesday, the total market capitalization dropped by almost 20%. However, BTC recorded the smallest drop among the top 60 coins today. As a result, BTC dominance, or the percentage of the total market capitalization, increased to 58.8%.
One analyst is noting that on-chain data seems to suggest that BTC is strong from a fundamental perspective, which may mean that its ongoing descent won’t last too much longer.
Early Bitcoin miner - Satoshi Nakamoto?
New research from RSK/IOV’s Sergio Demian Lerner reveals that Patoshi, an early Bitcoin miner assumed by many to be Satoshi Nakamoto, mined using an algorithm that was not included in Bitcoin’s first client release.
This finding finally explicates why Patoshi’s hashing patterns are so much different than other, early Bitcoin miners. The discovery of the Patoshi pattern may reveal the miner’s intention to guard the 51% attacks during the first year, and the long-term sustainability of the project.
There’s a lot to unpack in the latest development from the star defi project, Yearn.Finance will create a vault for anyone who holds ETH to get involved with yield farming with ETH. Previous yield farming endeavors required deposits of various stable coins.
In truth, Yearn.Finance is a suite of products that a community of coders is building together. It enables users to deposit assets and lets the software find the best yield. By utilizing the yield farming mechanism at scale, Yearn is able to spread gas costs for multiple operations across the whole participating users.