Uniswap now accounts for more gas fees than anyone else on the Ethereum network.


Press time data from EthGasStation shows decentralized exchange Uniswap as the place users have spent the most Ethereum (ETH) on gas payments over the past 30 days. Uniswap participants shelled out a combined 17,700 total ETH as fuel to send their trades through — equalling $6.99 million spent on gas over the past month.

Tether (USDT) came in second place. People spent a combined total of $6.39 million in ETH as gas to transact the popular stablecoin. Chainlink (LINK) ranked eighth.

Uniswap has taken the crypto world by storm in recent weeks, with crypto space participants riding the latest speculative hype train. Scams recently gained prevalence in the niche, however, in the form of counterfeit assets, making participation riskier.

Uniswap has helped spur the Decentralized finance, or DeFi, boom of 2020 so far, giving speculators a place to pick up assets associated with the sector. Some DeFi assets have spiked aggressively as part of a speculative season similar to those seen in 2017. Ethereum gas prices have also risen in tandem with the action.

Another ad for cryptocurrency has appeared in print media, this time without promoting a specific business or service.

A full-page ad for Bitcoin (BTC) appeared on the front page of the Hong Kong-based tabloid-style newspaper Apple Daily today. Though the text appears to be educating readers about BTC, there is no apparent mention of where or how to buy the coin — only a single reference to Genesis Block, a crypto firm based in the special administrative region.

“Bitcoin will never ditch you,” the ad stated in English above the name of Satoshi Nakamoto, while adding in Cantonese: “Banks, you're not ditching me today — I'm ditching you.”

"Bitcoin is digital money. It is not issued or controlled by any government or corporation. Nobody can stop you from transacting on the network and it cannot be shut down. Bitcoin is available to anyone regardless of their nationality, gender, or beliefs. Bitcoin began with the Genesis Block during the financial crisis of 2009. Now, its time is coming.”



Source: Reddit

Newspaper CEO under arrest
The Apple Daily is one of the largest print media in Hong Kong, but it has become even more popular since its CEO was arrested two weeks ago.

Billionaire and Apple Daily CEO Jimmy Lai was arrested on Aug. 10 for alleged violations of HK’s controversial National Security Law. The newspaper’s offices were also raided by authorities the same day. His detainment was seen by many as part of a crackdown against pro-democracy figures in the special administrative region.

In response, Hong Kongers showed support for Lai and the free press by lining up early to buy issues of Apple Daily, and also shares of Next Digital — the parent company responsible for the newspaper. Their efforts caused the price of the company’s stock to surge by more than 1,100%.

Lai was released after 40 hours in custody. However, his arrest and the support for the newspaper as one of the independent news outlets in the midst of ongoing protests may partially explain why someone chose the Apple Daily for a prominent Bitcoin ad.

The ad’s messages of “nobody can stop you” and not being controlled by any government may very well resonate with young protesters looking for an alternative to traditional finance.

Satoshi Nakamoto used a single PC to mine 1.1M Bitcoin


Sergio Dermain Lerner, a researcher known for looking at the mining patterns of the original Bitcoin (BTC) miner, has turned his attention on the Bitcoin blocks mined by Satoshi Nakamoto.

Lerner made a preview of his latest findings available to Cointelegraph. His research is based on the irregular pattern of the Least-Significant-Byte (LSB) of the nonce field of block.

This past June, Lerner published a blog that expanded on his original research from 2013. He suggested that for an unknown reason, Satoshi refrained from mining in the first five minutes of the block interval. Other researchers have also expanded on Lerner's research. TechMiX showed that all the blocks mined by Satoshi could be grouped into five baskets, based on the frequency distribution of the Nonce LSB values.


Nonce LSB value. Source: TechMiX.

A nonce gets incremented with every new attempt to solve a mining puzzle. Apparently, Satoshi's equipment was not using the entire available nonce space, only focusing on a limited range. Lerner's latest research indicates that Satoshi was decrementing the nonce value instead:

It turned out that re-mining reveals a strong tendency of the Patoshi mining algorithm to choose higher nonces when scanning the inner nonce. This tendency suggests the nonce was being decremented, which is the opposite that the Satochi client version 0.1 does.
This leads to a more interesting conclusion that perhaps will put an end to the discussion about the type of equipment that Satoshi Nakamoto used:

Since the nonce imbalance decreases when analyzing two subranges together, this suggests Patoshi was scanning the 5 subranges in parallel, but each subrange internally sequentially. This contradicts a theory that Patoshi deployed the first mining farm of 50 independent computers (or any other highly decoupled system) and supports the theory that Patoshi was simply multi-threading in a high-end CPU.
If Lerner's conclusions are correct that would lend more credence to the hypothesis that Satoshi Nakamoto was a single person and not a team. This would also put another nail into Craig Wright's claims of being a Bitcoin creator as he has indicated numerous times that he used dozens of computers to mine the early blocks.

Price Point
Bitcoin was slightly lower early Friday, leaving the cryptocurrency on track for its first weekly price decline since mid-July.

The largest cryptocurrency broke above $12,000 earlier in the week and failed to hold the gains, though John Willock, CEO of crypto asset manager Tritum, told CoinDesk Thursday that “maybe we’ve got $13,500 in the next phase up in the coming days.”

You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here.

European stocks were up and the euro was down early Friday as investors continued to bet on technology shares and a vaccine breakthrough while shrugging off fresh signs that the economic recovery is faltering. The dollar was headed for its first weekly gain since mid-June.

“It does almost seem as if the entire crypto market is taking its cues from the U.S. dollar,” Mati Greenspan, founder of the foreign-exchange and cryptocurrency analysis firm Quantum Economics, told subscribers in an email.

Market moves
Even after growing 100-fold in the past five years, the entirety of the cryptocurrency asset class, which has a total market valuation of $372 billion, is just fraction of the $35 trillion U.S. stock market.

What’s surprising is that still-fledgling digital-asset markets might be more rational and functional these days than Wall Street: The various ups and downs of token prices are sending out bona fide market signals that point to projects and opportunities where capital is warranted, and investors are responding.

Mainstream investment analysts and Wall Street Journal columnists now assert matter-of-factly that the stock market is merely propped up by this year’s $3 trillion of money-printing by the Federal Reserve.

Sure, bitcoin has benefited from the perception that the largest cryptocurrency might benefit from inflation, since many investors see it as a hedge against currency debasement, similar to gold.

Far more fascinating are the capital flows into the semi-autonomous lending and trading systems being built atop the Ethereum and other blockchains under the rubric of “decentralized finance,” or DeFi.

A real market?
Soaring token prices for projects like Aave, Chainlink, Compound and Curve, not to mention good-luck-explaining-this-to-your-friends outliers like Yam and Spaghetti, have indeed attracted capital, at least for stretches. According to DeFi pulse, total value socked away into the platforms has jumped 10-fold this year to $7 billion.

It might all just be speculative hype, but that might actually be preferable to global foreign exchange markets that are heavily influenced if not controlled by central bank officials.

Within the digital-asset ecosystem, investors have figured out how to quickly allocate and reallocate capital whenever new opportunities arise.   

CoinDesk’s Daniel Cawrey reported on Thursday that juicy returns in the DeFi market are making some investors shift away, at least temporarily, from putting their money into options contracts on bitcoin.

“Every derivatives trader that was looking for incremental yield and levered returns has been besotted by the magnitude of moves in DeFi,” Viashl Shah, founder of derivatives exchange Alpha5, told Cawrey. “So, naturally, cost of capital dictates at least some attention that way.”

more detail click here: https://www.coindesk.com/first-mover-bitcoin-defi-crypto-markets-capitalism

It’s a particularly bearish start to the day for the majors. Failure to move through the first major support and day’s pivot levels would deliver heavier losses.


EOS slid by 5.35% on Tuesday. Following on from a 2.60% decline on Monday, EOS ended the day at $3.5778.

It was a bullish start to the day. EOS rose to an early morning intraday high $3.8280 before hitting reverse.

Falling short of the first major resistance level at $3.9174, EOS slid to an early afternoon intraday low $3.4582.

EOS fell through the first major support level at $3.6473 and the second major support level at $3.5153.

Finding support through the afternoon, EOS briefly revisited $3.68 levels before falling back through the first major support level.

At the time of writing, EOS was down by 4.95% to $3.4008. A mixed start to the day saw EOS rise to an early morning high $3.6295 before falling to a low $3.3424.

EOS fell through the first major support level at $3.4097 early on.

More Details click here: https://responsive.fxempire.com/cover/615x410/webp-lossy-70.q50/_fxempire_/2020/08/Cryptos-on-Computer.jpg

It has been a rough day for Stellar (XLM), as the previously strong cryptocurrency is now facing heightened selling pressure.

Its ongoing slide lower has come about due to the weakness seen by both Bitcoin and most other major digital assets.

At the moment, the benchmark crypto is struggling to hold above $12,000, with its dip below this level striking a blow to its technical strength.

This has caused investors to grow increasingly concerned with how altcoins might react to a strong BTC selloff.

Despite this, analysts still believe that Stellar could be well-positioned to see further near-term upside, with one trader explaining that he expects it to see a 60%+ pump in the coming days and weeks against its Bitcoin trading pair.

There are a few technical factors that seem to support this notion, as XLM has been able to hold above multiple crucial technical levels.

Stellar Shows Signs of Strength as It Holds Above Key Technical Levels
At the time of writing, Stellar is trading down over 4% at its current price of $0.109. This marks a notable decline from its recent highs of nearly $0.12 that were set yesterday when it surged alongside Bitcoin and the rest of the market.

The crypto token has been flashing signs of similar weakness while looking towards its Bitcoin trading pair.

That being said, analysts are now widely noting that it may be well-positioned to see significant upside, with multiple factors pointing to underlying strength against BTC despite its ongoing price decline.

One trader explained that Stellar is holding above its 100-day and 200-day moving averages, also being able to form a higher high and a higher low.

He is targeting a movement towards 1400 sats, up from its current price of 900 sats.

“And we’re holding the 100-Day and 200-Day MA after a retest. HL made, HH made as well. Looking for a new HH around 1400 sats.”


Image Courtesy of Crypto Michael. Chart via TradingView.
Analyst: XLM Could Soon Pump 60%+
Another analyst echoed this sentiment, explaining that he is eyeing a 60% move higher for Stellar against its BTC trading pair.

“XLM – This could pump +60% fairly easily tbh. One could enter here at 903 sats or wait for the ‘safer’ entry on a break above 966 and miss the first 8.5% of the move. Areas of interest: 966 sats, 1157 sats, and 1422 sats. Can buy or compound positions at the above areas.”

Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan.

China’s southwestern Sichuan province, a mountainous region that is estimated to have over 50% of Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week, which peaked over the last two days.

The heavy rainstorms have caused electricity outages in parts of the region as hydro-plants stop generating power to help discharge the floods. Some counties are also experiencing telecommunication and internet breakdowns, said Kevin Pan, CEO and co-founder of PoolIn.

As result, impacted bitcoin mining farms in the region are forced to unplug from the network for the time being. It’s not clear when the situation will prove as the rainstorms are still ongoing.

Data from BTC.com shows the world’s top four bitcoin mining pools – that is PoolIn, F2Pool, BTC.com and Antpool, all based in China – have each seen their hashrates drop between 10% and 20% over the last 24 hours. The computing power connected to these four pools accounts for around 50% of the Bitcoin network’s total.