Month: September 2022

Pro traders don’t expect Bitcoin to break and hold $20,000 anytime soon

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111 days have passed since Bitcoin (BTC) posted a close above $25,000 and this led some investors to feel less sure that the asset had found a confirmed bottom. At the moment, global financial markets remain uneasy due to the tension in Ukraine increasing after this week’s Nord Stream gas pipeline incident.  The Bank of England’s emergency intervention in government bond markets on Sept. 28 also shed some light on how extremely fragile fund managers and financial institutions are right now. The movement marked a stark shift from the previous…

How to Deal With Tornado Cash (Without Using Sanctions)

Coin Center, a Washington, D.C., nonprofit that advocates for decentralized computing technologies, argued that OFAC had overstepped its authority. According to its rules, OFAC can only target entities that are individuals or companies. But Tornado Cash smart contracts are neither; they cannot alter their behavior, nor lodge an appeal with OFAC to have the sanctions revoked, a key element in any sanctioning process. Source

Bitcoin 30-Day Long-Term Holder SOPR Is Yet To Hit Bottom Values

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On-chain data shows the Bitcoin 30-day long-term holder SOPR hasn’t yet reached the historical bottom level during the current cycle. Bitcoin 30-Day Long-Term Holder SOPR Has Declined Recently As pointed out by an analyst in a CryptoQuant post, the long-term holders haven’t attained their maximum pressure point yet. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is less than 1, it means…

Why VeChain Is Attractive At $0.02, Is VET Aiming For A Big Move?

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The crypto market successfully bounced from support with major cryptocurrencies recording profits over today’s trading session, VeChain (VET) follows the general sentiment. The cryptocurrency has been able to preserve some of its gains from yesterday’s session and seems poised for further highs. At the time of writing, VeChain (VET) trades at $0.023 with a 2% profit in the last 24 hours and a 5% profit over the past 7 days. In higher timeframes, the cryptocurrency records significant losses, but in the short term, this trend might be starting to reverse.…

Crypto Exchanges KuCoin and OKX Asked by Authorities To Freeze $67,000,000 in Bitcoin Tied To Do Kwon: Report

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Two crypto exchange platforms are being reportedly asked by South Korean authorities to freeze tens of millions of dollars worth of Bitcoin (BTC) tied to Terra (LUNA) founder Do Kwon. According to a new report by Bloomberg, South Korean prosecutors are asking the KuCoin and OKX crypto exchanges to freeze 3,313 BTC linked to a crypto wallet associated with Kwon’s Luna Foundation Guard (LFG) worth about $67 million at time of writing. Citing analyst CryptoQuant, South Korean officials say that the wallet was created on September 15th. “CryptoQuant specified new…

Meta introduces NFT crossposting and sharing on Instagram

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Meta, Facebook and Instagram’s parent company, announced another development in its digital arts initiative. As of Sept. 29, all users on both platforms can connect wallets and share nonfungible tokens (NFTs) across 100 countries.  As part of the feature, which has been in testing since May, users will be able to tag creators and collectors, and cross-post digital collectibles between platforms without paying any fees. Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries. Creators like…