Market Analysis Report (28 Oct 2021)

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.

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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

Source: https://www.cryptocompare.com/email-updates/daily/2021/oct/28/