Day: February 24, 2022

Cardano Whales Devour Dip, Why They Don’t Care About Price Action

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Despite the crypto market’s bloodshed, in the past few days, the Cardano (ADA) trading activity has been relentless, and its holders’ balance remains strong with a multi-year high. Into The Block data indicates that the wallet balance held by long-term Cardano holders hit a multi-year high on February 23. “Regardless of the price action, Cardano‘s holders remain strong. The balance held by HODLERS- addresses holding >1 year, is at a multi-year high. These HOLDERS increased their positions to 10.12b $ADA, the largest balance since December 11, 2019.” Source: Into The…

Buterin Says “Ethereum Is Neutral, But I Am Not” In Condemnation Of Russia’s Attack

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Minutes after Russia announced a “special military operation” in Ukraine, effectively declaring war on the Eastern European country, Vitalik Buterin, a Russian-Canadian cofounder of the Ethethereum B blockchain, criticized Russian President Vladimir Putin on Twitter. Buterin Speaks Out Buterin said on Wednesday evening that he was “very upset” by Putin’s choice to start a war instead of finding a peaceful solution to Russia’s issue with Ukraine. Vitalik wrote in Russian on Twitter: “Very upset by Putin’s decision to abandon the possibility of a peaceful solution to the dispute with Ukraine…

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Ethereum Gets an Upgraded Scaling Testnet – And It’s Actually Years Ahead of Schedule

Over the past couple of years, Ethereum rollups have taken two different directions in scaling the base layer, categorized as Optimistic and Zero-Knowledge. Both technologies have seen some level of adoption, with Arbitrum being the most notable Optimistic chain and DyDx taking advantage of ZK technology for its leveraged trading application. Like DyDx, ZK rollups have historically focused on offering a single type of application per chain, because the full Ethereum environment that offers customizable smart contracts would be too computationally extensive. Source

Bitcoin Monthly Cyclicality Paints Grim Picture For Last Week Of February

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For the past year, bitcoin has shown a cyclicality that has been on a semi-regular basis. For most of last year, most months had finished in the positive with green candles dominating the market. However, while most of the months have been positive, there have been significant differences between the first half of the month and the second half. This push and pull pattern has continued into the new year, spelling some bad news for the end of February. Looking At Monthly Cyclicality Through 2021 Eight months out of the…

VOXEL, SLP and ALICE rally after protocol updates and a major exchange listing

Crypto markets are taking a beating but there are still a few standout performers even during this week’s volatility. One sector that has managed to rise above the noise are NFT-related altcoins and GameFi tokens. Top gainers in the collectible and NFT sector. Source: CoinMarketCap Data from Cryptox Markets Pro and CoinMarket Cap shows that three notable gainers over the past 48-hours were Voxies (VOXEL), Smooth Love Potion (SLP) and MyNeighborAlice (ALICE). Voxie Tactics launches its marketplace VOXEL is the native utility currency of Voxie Tactics, a free-to-play, 3-dimensional, role-playing…

IRA Financial ‘Swatted’ at Time of $36M Crypto Hack, Police Officer Tells Victim

“What we were then informed of was that once the employees returned to their desks, after, like, while this ‘robbery’ was taking place or whatever, once they got back to their desks, they all found that customers’ accounts had been hacked into and that money was actively being taken at that time,” the officer said in the voicemail. He did not immediately respond to a request for comment from CoinDesk. Source

Block Tops Q4 Estimates, Posts Nearly $2B in Bitcoin Transactions

Of the $220 million of bitcoin put on the company balance sheet in late 2020 and early 2021, Block didn’t book an impairment loss in Q4, leaving the full year impairment charge at $71 million, and carrying value at $149 million. As of year’s end, the fair value of the bitcoin investment was $371 million, or $222 million greater than the carrying value. Source

Chainalysis Study Shows ‘Criminal Whales’ Hold $25B in Digital Assets, Entities Represent 3.7% of All Crypto Whales – Bitcoin News

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According to research published by Chainalysis, criminal entities hold more than $25 billion in cryptocurrencies. The blockchain intelligence firm’s study shows that there was a significant increase in crypto balances held by criminals in 2021 as the metric jumped by 266% since the year before. Chainalysis Studies Crypto Whales Holding Balances Tied to Illicit Addresses The blockchain surveillance company Chainalysis published a study that indicates $25 billion in digital assets is currently held by criminals. Despite the significant law enforcement seizures last year, the billions of dollars in crypto held…