Ethereum News Daily Official TheBitTimes.com

The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels. Bitcoin (BTC) is down about 11% in August, just shy of the 13.88% fall seen in the corresponding month in 2022, according to CoinGlass data. The picture does not look very bright for September either. History shows that every year since 2017, Bitcoin has declined in September.  Bloomberg Intelligence senior macro strategist Mike McGlone is even more bearish on Bitcoin. While speaking to Kitco News, McGlone warned that in case of a “global economic reset,” Bitcoin could nosedive to as low as $10,000. Daily cryptocurrency market performance. Source: Coin360 Although analysts have been giving both bullish and bearish targets, it is better to wait for the price to break out of the range before taking large bets. Typically, after a low volatile period, the volatility picks up but it is difficult to predict the direction of the breakout with certainty. ...

Arno Bauer, the senior solution architect at BNB Chain, denies the “Ethereum killer” tag in a discussion highlighting new BNB Chain updates. Episode 25 of Cointelegraph’s Hashing It Out podcast explores the BNB Chain ecosystem with Arno Bauer, the blockchain's senior solution architect. Bauer explains the rationale behind creating the BNB Chain and how the project intends to contribute to the Web3 ecosystem. Bauer addresses the competition in the space and explains that BNB Chain was not designed to “kill Ethereum” but to provide value for a unique set of users. “I wouldn’t call ourselves an Ethereum killer because I don’t think anyone wants to kill Ethereum.“ Recently, BNB Chain launched a new layer-2 testnet called opBNB, which is based on the Optimism OP Stack and is expected to make BNB Chain more scalable. When asked if this could lead to a fragmentation of the BNB Chain ecosystem, Bauer explains that users may be confused with making a choice, and the best way to simplify...

Rug pulls and other frauds made up a small percentage of losses compared to hacks and exploits, the report stated. BNB Chain was the king of rug pulls in the first quarter of 2023, with over 73.3% of such scams in the entire crypto ecosystem happening on the network, according to an April 4 report from Blockchain Security firm Immunefi. The report, titled “Crypto Losses in Q1 2023,” investigated a variety of crypto hacks and scams in the first quarter of the year. It found that Ethereum and BNB Chain were the two largest targets for hackers and scammers, with 68.8% of total losses from these networks combined. BNB Chain, in particular, made up 41.3% of total losses from hacks and scams. One type of scam, in particular, reigned supreme on BNB Chain: rug pulls , a type of scam where developers raise funds and then close up shop without delivering a product or service. Immunefi stated that 73.3% of all rug pulls in the crypto ecosystem happened on BNB Chain in the first quarter. Relat...