30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $37,583
Bitcoin price has traded flat over the last 24 hours, as price continues to range around the $37,000 mark.
Top-20 altcoins have had mixed results over the past day of trading, as Ethereum drops 1%, XRP rises 8%, and Cardano gains 15%..
Top Stories for February 5, 2021
Yearn Finance’s DAI vault has been attacked in a flash loan attack, resulting in more than $11 million being drained from the pool.
The attacker managed to manipulate the price of Dai used by the vault, using a flash loan from DeFi protocol Aave to fund the exploit to get away with $2.8 million of the funds.
Crypto investor Ryan Sean Adams has made a popular case for Ethereum, defying criticism about high transaction costs on the network.
Adams pointed out that using a price-to-sales model, Ethereum is actually getting cheaper, rather than ore expensive.
The model considers the high gas fees to be a positive factor, treating them as revenue and indicates that ETH may be undervalued.
The volume of stablecoin transactions within blockchains have grown significantly since December last year, as January sees more than $308 billion worth of stablecoins change hands on-chain.
Almost two-thirds came from Tether (USDT), while USDC volumes came in at $63 billion worth. In comparison, total on-chain stablecoin volume in December 2020 was just $178 billion.
The post Yearn Finance Suffers Flash Loan Attack, $11M Lost – February 5 appeared first on BitcoinPrice.com.
Source: Yearn Finance Suffers Flash Loan Attack, M Lost – February 5