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San Francisco-based cryptocurrency exchange Coinbase is offering users who hold MakerDAO’s DAI stablecoin in their accounts a yield of 2% per year, with the rate being subject to change.
Users in India and Sri Lanka reportedly face a relatively higher chance of encountering cryptocurrency mining attacks, according to Microsoft’s recent cybersecurity report for countries in the Asia-Pacific region.
About 93% of all bitcoin addresses are estimated to be in a state of profit, as the price of the flagship cryptocurrency continues to trade above the $10,000 mark after trying to breach it over the last two months.
Sponsored: Between July 1-17, one lucky Fairspinner has won and withdrew 2,731 ETH ($650K) in a series of transactions from 101 ETH to 250 ETH.
Top stories in the Crypto Roundup today:
- Coinbase to Start Paying DAI Holders 2% Interest a Year
- Indian Users Are More Likely to Face Crypto Hacking, Microsoft Finds
- 93% of All Bitcoin Addresses Are Estimated to Be in Profit
- Sponsored: Win of $650,000 on the Fairspin Casino
At the time of writing, bitcoin (BTC) is trading at $10,958.76 (-1.60%) with a daily Top Tier volume of $4.99 bn. As for ether (ETH), it is trading at $319.36 (-1.78%) with a daily Top Tier volume of $1.46 bn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,930.97 (-1.06%).
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Coinbase to Start Paying DAI Holders 2% Interest a Year
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San Francisco-based cryptocurrency exchange Coinbase is offering users who hold MakerDAO’s DAI stablecoin in their accounts a yield of 2% per year, with the rate being subject to change.
The program applies to customers in the U.S., U.K., France, Spain, Netherlands, and Australia. Rewards are distributed within the first five business days of receiving DAI in their accounts, and will be handed out daily afterward.
Coinbase has a similar offering for the USDC stablecoin, as U.S. customers who hold the cryptocurrency in their wallets can receive interest based on their holdings. Staking rewards for tezos (XTZ) are also offered on the exchange. It also rewards users with other cryptoassets for learning about them, via its Coinbase Earn program.
The move comes after DAI issuer MakerDAO became the first platform in the decentralized space with over $1 billion worth of crypto locked in it. Maker, it’s worth noting, also offers interest on DAI holdings via the Oasis app.
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Indian Users Are More Likely to Face Crypto Hacking, Microsoft Finds
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Users in India and Sri Lanka reportedly face a relatively higher chance of encountering cryptocurrency mining attacks, according to Microsoft’s recent cybersecurity report for countries in the Asia-Pacific region.
These attacks infect a user’s device with malware that uses its resources to mine cryptoassets without their knowledge. The report claims India’s encounter rate for these attacks is 4.6 times higher than the global and regional average, with the encounter rate in India last year being 0.23%, after dropping over 50% since 2018.
Ransomware and drive-by download attacks are also significant cybersecurity challenges in the country, according to the report. Drive-by download attacks involve the unintentional download of malicious software to extract information from the user, while ransomware locks a user’s machine and encrypts their files to demand a ransom.
Users in Sri Lanka and Vietnam, according to Microsoft’s report, also have a relatively high chance of encountering cryptocurrency mining attacks.
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93% of All Bitcoin Addresses Are Estimated to Be in Profit
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About 93% of all bitcoin addresses are estimated to be in a state of profit, as the price of the flagship cryptocurrency continues to trade above the $10,000 mark after trying to breach it over the last two months.
The “addresses in profit” measurement is done by analyzing the balances of assets transferred into a wallet at an average price lower than the current price of BTC. Balances in profit, according to Glassnode, are up 29% since July 20, when the cryptocurrency was still range-bound between $9,000 and $10,000.
Bitcoin addresses in profit were above 90% for the last time in August 2019, when BTC traded around $11,500. This means we’re now at an 11-month high. A high percentage of addresses in profit, according to Josh Olszewicz, a cryptocurrency trader at Techemy Capital, increases the probability of investors selling the BTC to realize profits.
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