Overview
- Cardano testnet broken?
- BTC loses 200 ma.
- BendDAO contract drained.
- World’s largest ETH mining pool to completely drop ETH PoW mining.
Good morning Banter Fam,
The situation with Cardano’s Vasil Hardfork intensifies with talks about a bug in the chain’s code.
According to founder Charles Hoskinson, all issues in regard to the Cardano Vasil hard fork have been “incredibly corrosive and damaging”, and seems like he wants to put all controversy to an end and get things going with the Vasil Hard Fork. Charles expressed himself openly on Twitter, revealing his thoughts on some videos claiming that Cardano’s testnet has a “catastrophic” issue, as well as other matters regarding the chain’s development.
Cardano ecosystem developer Adam Dean seems to have lit the fire of the conversation when he revealed that “…the Cardano Testnet is catastrophically broken due to a bug in Cardano Node v1.35.2. This was the version that we had previously been told was “Tested and Ready” for the Vasil Hardfork.”
The bug apparently creates incompatible forks and went unnoticed until now. And even though Cardano released a new client software (Cardano Node v1.35.3) on two testnets, Adam Dean went on to say:
“Testnet is still broken, due to the majority of operators having upgraded to 1.35.2 on testnet to simulate a Vasil HFC event there, 1.35.3 is now incompatible and incapable of syncing the chain, legacy installations are still on one fork or another”.
The Cardano community may be a little on edge due to the ongoings. It seems despite the issues, Hoskinson wants the development to go ahead as planned. In regards to the future of Cardano, he has mentioned that the Vasil hard fork will bring with it a new governance process, with more inclusive structures that will lead to “more useful code” and “faster developments.”
Market update 🌍
BTC/USD 1D
Friday’s market close saw Bitcoin end on $20,834.94 which was a significant drop of -10.15% for the day.
Bitcoin began the weekend with a small pump, trying to get back up, but this pump was short-lived, as on Sunday BTC lost the 200 ma, and come Monday morning the price started dropping again.
At the time of writing, BTC sees itself around the $21,150 level. That is up just 1.33% from where it closed on Friday.
High-resolution chart
ETH/USDT 1D
Similar to BTC, ETH saw a massive drop on Friday, taking it down a whopping -12.86%. The move meant that ETH closed the trading day on $1,609.01.
However, unlike BTC, ETH decided to take its own route over the weekend, moving slightly more to the downside.
At the time of writing, ETH sits at $1,558 which is down -3.05% from Friday’s close.
High-resolution chart
| US markets close | Gain |
| S&P 500 | Closed |
| Nasdaq | |
| Dow | |
| VIX |
Notable Gainers (24h):
| Protocol (Coin) | Price ($) | Gain (%) |
| EOS (EOS) | $1.50 | 6.2% |
| Radix (XRD) | $0.060077 | 1.4% |
| Bitcoin Fear and Greed Index | 29 Fear |
| “Crypto” Google Trends 90d | 40 |
| “Bitcoin” Google Trends 90d | 23 |
Newswatch 📰
BendDAO contract drained. Lending protocol BendDAO’s contract has been drained of its Wrapped ETH (WETH). An estimated 15k ETH is to be paid to lenders, but all that remains in the contract is roughly 12.5 WETH.
Ethermine to drop ETH PoW mining. The world’s largest ETH mining pool, Ethermine, has announced it will completely drop ETH PoW mining as soon as The Merge takes place. The Ethermine miner dashboard will display a countdown with miners being able to mine ETH until the timer reaches zero.
News Tidbits:
- Euro falls below parity with the US Dollar.
- Thread on OFAC Sanctions and Ethereum PoS.
- US PCE data due on Friday, to determine next Fed action.
At the protocol level ⛓
- Synapse has integrated Dogechain. Dogechain becomes the 17th chain interconnected by Synapse.
NFT & metaverse update 🐵
- Atletico Madrid football club partners with STEPN and WhaleFin to launch NFT Sneakers Collection.
Banter’s take
Historically, September is the worst month for crypto and stocks. So will this time around be any different? We have some upcoming economic data that will surely affect the price action of all of these, including PCE on Friday, the report on jobs numbers, and a revised Q2 GDP.
We expect quite some high volatility ahead of these events and right after, so be wary Banter Fam.
As for the Cardano news, we hope that things get sorted swiftly, and wish their community the best.
Gabri
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Disclaimer
Good Morning crypto (issued by Crypto Banter) is a newsletter for entertainment purposes only.
All opinions expressed by the publisher, writers, and chartists should not be construed as financial advice and do not necessarily reflect the views of Crypto Banter. The publisher, writers, and chartists may hold positions in the tokens and assets discussed. Readers are encouraged to do their own research.
