Day: December 13, 2021

‘Monster bull move’ means whales could secure the next Bitcoin price surge

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Bitcoin (BTC) whales are the center of attention this week as buying and selling habits split the BTC price narrative. New findings from on-chain analytics firm CryptoQuant show derivatives investors leading the way when it comes to bullish bets on Bitcoin. “Sick” BTC price indicator favors bulls The second half of November produced a marked uptick in the buy/sell ratio on major derivatives trading platform Deribit, and for contributing analyst Cole Garner, this is a sure sign that price action will react positively in the near term. “I recently discovered…

‘Monster bull move’ means whales could secure the next Bitcoin price surge

Bitcoin (BTC) whales are the center of attention this week as buying and selling habits split the BTC price narrative. New findings from on-chain analytics firm CryptoQuant shows derivatives investors leading the way when it comes to bullish bets on Bitcoin. “Sick” BTC price indicator favors bulls The second half of November produced a marked uptick in the buy/ sell ratio on major derivatives trading platform Deribit, and for contributing analyst Cole Garner, this is a sure sign that price action will react positively in the near term. “I recently…

Solana on-chain development increases after a recent DDoS attack

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Solana, the fifth-largest cryptocurrency by market capitalization, is leading on-chain development charts despite a recent denial-of-service (DDoS) attack. As per Santiment data, Solana surpassed the daily GitHub submission rates of Polkadot and Cardano to become the leading blockchain over the past month. The number of daily GitHub submissions for Solana reached 90 between Nov. 12 and Dec. 13, followed by Polkadot at 76, and Cardano at 65. Daily GitHub submissions Bitcoin, Solana, Cardano and Polkadot Nov. 12–Dec. 13 2021. Source: Santiment The surge in on-chain development activity for Solana comes…

Crypto Exchange AscendEX Hacked, Losses Estimated At $77M

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Cryptocurrency exchange AscendEX suffered a hack for an estimated $77 million following a breach of one its hot wallets. On Sunday, AscendEX announced via Twitter that it had identified a number of unauthorized transactions from one of its hot wallets on Saturday. Assets not affected have been transferred to cold wallets while the investigation is carried out, the exchange added. Blockchain analytics firm PeckShield estimated that the stolen funds amounted to $77 million spread across three chains: Ethereum ($60 million), Binance Smart Chain ($9.2 million) and Polygon ($8.5 million). The…

Wells Fargo, HSBC to Settle Forex Transactions Using Blockchain

Wells Fargo and HSBC Bank said on Monday that they will use a blockchain-based product for settling matched foreign exchange transactions. The two banking giants agreed to use a shared settlement ledger to process U.S. dollar, Canadian dollar, pound and euro transactions, with plans to expand the process to other currencies in the future. The announcement comes as other major Wall Street banks, such as Goldman Sachs, were reportedly looking to integrate blockchain technology into their regular processes. JPMorgan was also looking to hire software engineers to focus on “Collateral…

A Wave Of New Blockchain Games Are Accelerating Mainstream Adoption Of Collectibles And NFTs

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As the NFT market grows bigger and better with each passing day, new and innovative third-generation blockchain platforms have paved the way for the emerging blockchain gaming sector to leverage the power of non-fungible tokens (NFTs) to their full extent. Currently, the aggregate market capitalization of NFTs has crossed $63 billion, with several NFTs and collectibles tokens experiencing continuous upward price momentum. Decentraland (MANA), Gala (GALA), The Sandbox (SAND), and several other blockchain games have already set the foundation for the much-hyped “metaverse,” giving users a sneak peek of what…

Only 10% of the Bitcoin supply left to mine

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Total circulating Bitcoin (BTC) hit a significant milestone on Monday morning, one and a half years after the last Bitcoin halving, as 90% of the maximum total supply has been mined. Current data from Blockchain.com shows Bitcoin in circulation hit 18.899 million as of Monday, meaning only 10% of the total supply is left to mine. While the first 90% of BTC took about 12 years to mine, the rest will take a little longer. Bitcoin has a hard cap of 21 million coins set by its anonymous creator Satoshi…

SEC’s Gensler Says Crypto ‘Fits in Our Broad Remit’: Report

Crypto fits into the “broad remit” of the U.S. Securities and Exchange Commission (SEC), Chairman Gary Gensler said in an interview with the Wall Street Journal on Sunday. In the interview Gensler restated his desire for more robust measures to protect crypto investors. “The public’s anticipating some profit based upon the efforts of some entrepreneur or computer-science group that’s raised money from the public. That fits in our broad remit at the SEC,” he said. Turning to crypto platforms, Gensler said that exchanges are “doing a lot more than just…

Bitcoin Exchange Outflows Resume as Stock Markets Get Over Fed Jitters

The S&P 500 and the Nasdaq Composite rose 3.8% and 3.6% last week, their biggest weekly ascents since early February, even as a report showed U.S. inflation climbed to a four-decade high in November, sealing the deal for a faster unwinding of the crisis-era stimulus by the Federal Reserve (Fed). The Dow snapped a four-week losing trend with a 4% rally and bitcoin ended a three-week losing trend, adding 1.2%. Source