- After making fresh 2022 lows yesterday, the S&P 500 has found some slight footing, rising to $3680 (+0.90%) today. The Nasdaq has fared slightly better, failing to make new lows yesterday and currently trading around $11,340 (+0.60%). $BTC has continued to show relative strength as of late, trading around $19,400 (+1.78%), while $ETH is stuck around $1330 (-0.05%). Some of the outperformers this month have cooled off this week; $ATOM and $CHZ have declined 6.50% and 5.08%, respectively. $CEL is the top performer over the last 24 hours (+10.56%) in hopes that FTX may bid for their crypto assets, essentially bailing out the distressed lending firm. Neither party has released an official statement, but the speculation follows FTX winning the auction for Voyager Digital’s assets yesterday.
- Leading NFT marketplace OpenSea has been busy paying out different bug bounties. Over the last ten days, two critical vulnerabilities have been found by various hackers. The first bug was discovered by Corben Leo, the Chief Marketing Officer at a security firm called Zellic. Leo found the vulnerability via a bug bounty platform called HackerOne. The bug potentially could have been exploited to compromise OpenSea’s infrastructure. Leo was rewarded with a $100,000 bug bounty by OpenSea. Similarly, another white-hat hacker named Nix found a critical bug in OpenSea’s code on September 19th. Nix also found the vulnerability using HackerOne but did not disclose details about the issue he discovered. OpenSea also rewarded Nix with a $100k bounty. OpenSea’s collaboration with HackerOne is paying dividends, with an OpenSea representative stating, “We’re pleased to see the community’s engagement with the program.” Security across crypto is a significant issue, and bug bounty partners such as HackerOne and ImmuneFi continue to gain popularity.
- Ribbon Finance, a decentralized finance protocol known for its on-chain structured products, has launched its new “high-performance” options exchange called Aevo. Aevo is built on Ethereum and will offer users the ability to trade ETH options. To start, ETH is the only asset available for options trading, but Ribbon has plans to integrate other tokens soon. Ribbon hopes the new product will drive demand amongst its users, with founder Julian Koh saying he expects the exchange to see over $100 million in daily trading volume within the next six months. Options have become increasingly popular amongst crypto traders, with open interest in ETH options remaining around $11 billion for September. Many investors speculate that financial derivatives can be one of the next growth drivers for the crypto ecosystem.
Crypto Daily Report – September 28
Sep 28, 2022
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