The President of El Salvador, Nayib Bukele, has revealed that the country’s government took advantage of the recent price drop to add an additional 420 BTC to the nation’s treasury. Bukele tweeted it “was a long wait, but worth it.”

Shiba Inu (SHIB) has seen its price explode over the last few weeks, to the point its market capitalization surpassed that of rival meme cryptocurrency Dogecoin (DOGE). The price of both cryptocurrencies have been rising, earning them a spot in the top 10 by market cap.

Cream Finance, a decentralized finance (DeFi) protocol built on top of Ethereum, has been hacked for more than $130 million through a large flash loan transaction. Blockchain data shows $92 million were stolen to one address and $23 million to another.

In decentralized networks like Solana, anyone can become a validator if they desire. As more and more people stake their Solana to different validators, not only does the total amount of staked Solana increase but so does network security. Staking rewards users with SOL.

Sponsored: You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit.

Top stories in the Crypto Roundup today:

• El Salvador Adds 420 Bitcoin to Its Treasury
• Shiba Inu Overtakes Rival Dogecoin’s Market Capitalization
• Ethereum DeFi Protocol Cream Finance Hacked
• How to Stake Solana
• Sponsored: Check Out The Newest Liquidity Mining Pool on Curve Finance

El Salvador Adds 420 Bitcoin to Its Treasury

The President of El Salvador, Nayib Bukele, has revealed that the country’s government took advantage of the recent price drop to add an additional 420 BTC to the nation’s treasury. Bukele tweeted it “was a long wait, but worth it.”

Shortly after the purchase, Bukele tweeted out that El Salvador was already making profit off of the BTC it bought, with the price of the cryptocurrency moving up around 0.4% in the time between tweets.

The purchase brings the country’s total to 1,120 Bitcoin bought at an average purchase price of $53,300. The first BTC El Salvador purchased was on September 6, when it first acquired 200 coins after making Bitcoin legal tender in the country.

El Salvador’s Central Bank chief, Douglas Rodriguez, has said the country is investing in Bitcoin with the expectation that the cryptocurrency will stop being seen as a speculative asset and become a legitimate payment system.

Shiba Inu Overtakes Rival Dogecoin’s Market Capitalization

Shiba Inu (SHIB) has seen its price explode over the last few weeks, to the point its market capitalization surpassed that of rival meme cryptocurrency Dogecoin (DOGE). The price of both cryptocurrencies have been rising, earning them a spot in the top 10 by market cap.

SHIB has a market capitalization of $40.7 billion at the time of writing, while DOGE has a $39.3 billion market capitalization. Both cryptocurrencies were created as jokes that garnered attention on social media and attracted retail investors.

Shiba Inu’s price has been influenced by significant token burns, listings on major cryptocurrency trading platforms, and a petition to list it on commission-free trading platform Robinhood.

A recent study conducted by Bacancy Technology revealed SHIB has become the third-most Googled cryptocurrency so far this year. The study showed Shiba Inu received 2.8 million searches on average per month so far this year, while bitcoin received 22 million average monthly searches. In second place came Ethereum, with 6.3 million average searches per month.

Ethereum DeFi Protocol Cream Finance Hacked

Cream Finance, a decentralized finance (DeFi) protocol built on top of Ethereum, has been hacked for more than $130 million through a large flash loan transaction. Blockchain data shows $92 million were stolen to one address and $23 million to another.

The stolen funds, which were mostly in Cream liquidity provider tokens and other ERC-20 tokens, have since been moved to several different wallets. The price of Cream Finance’s native CREAM token has plunged over 30% since the hack.

The hacker left an unusual message in the exploit transaction, seemingly suggesting that other Defi lending platforms Aave and Iron Bank were “lucky” while Cream Finance was not. The exploit is the third-largest DeFi hack in history, behind that of Poly Network and Compound, which saw the funds get returned.

The total amounts of funds stolen from DeFi attacks has now grown to surpass the $500 million mark.

How to Stake Solana

Solana is a high-performance blockchain founded by former Qualcomm, Intel, and Dropbox engineers that uses a delegated Proof-of-Stake (dPoS) consensus algorithm. The network uses a unique method of ordering transactions to significantly improve its speed and throughput.

The cryptocurrency has been red-hot, recently moving past its previous all-time high and breaking through the $70 mark. As interest in it grows, many are looking to learn more about SOL and its network.

In decentralized networks like Solana, anyone can become a validator if they desire. As more and more people stake their Solana to different validators, not only does the total amount of staked Solana increase but so does network security. Staking rewards users with SOL.

Staking Solana is as easy as 1, 2, 3. To begin, you will need to have some Solana tokens - if you don’t have any Solana already, then you can purchase them via popular cryptocurrency exchanges.

In our in-depth guide, we cover how to stake Solana step by step.

Bybit’s DeFi Mining - Check Out The Newest Liquidity Mining Pool on Curve Finance

You’ve probably heard all about Curve Finance, the popular decentralized exchange for stablecoins, but may be put off by having to manage another on-chain wallet. 

Bybit has simplified the process for users like you, so you can get easy access to DeFi on Bybit. 

All you have to do so:

1. Choose among 7-, 14-, and 21-day product plans.
2. Stake USDT. 
3. Sit back and collect your rewards.

It’s that easy. 

Terms and conditions apply. Check it out now!

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