Day: January 16, 2023

Ethereum Hits Monthly High And Turns Deflationary Again

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The Ethereum price rally is on an upward trajectory since the last fortnight. Performing a little over Bitcoin’s growth, Ethereum gained 30%. On the morning of 16th January, Ethereum woke up to exciting news as Ethereum is riding high on the $1600 market price.  This comes after several contributory factors play a role in the price increase. From the accumulation of assets, particularly by Shark Addresses, it crossed above $1400 for the first time since 7th November on 12th January.  Shark Addresses are also the highest in this period, with…

Lazarus Group Transfers $64M ETH From Harmony Bridge Hack

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During the weekend, the notorious North Korean hacking gang Lazarus Group started transferring stolen money in the Harmony Bridge attack. Notably, the organization transferred over $63.5 million, or approximately 41,000 ETH.  On January 16, blockchain detective ZachXBT published information about the transfer of a significant amount of Ethereum. The cryptocurrency assets which originated from Tornado Cash were transferred via Railgun. Railgun is a private smart contract platform that uses zero-knowledge proofs to hide financial transactions. According to the analyst who followed the trail of more than 350 addresses, some 41,000…

Seoul government opens city’s metaverse project to public

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The Seoul Metropolitan Government has launched its Metaverse Seoul project, allowing residents of the South Korean capital city to access city services in a virtual environment. In a Jan. 16 press briefing, Seoul Mayor Oh Se-hoon announced the launch of the first phase of Metaverse Seoul following beta testing of the project. According to the mayor, the online environment will be a “place of communication for citizens” of the capital city, allowing them to virtually visit many of Seoul’s attractions, access official documents, file certain complaints, and receive answers to…

SOL, SHIB Remain Near Multi-Month Highs, Despite Market Consolidation – Market Updates Bitcoin News

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Solana started the week trading near a two-month high, as momentum remained marginally bullish, despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher as of writing. Shiba inu also traded close to recent highs, despite declines on Monday. Solana (SOL) Solana (SOL) remained near a two-month high to start the week, despite crypto markets beginning to consolidate recent gains. SOL/USD hit an intraday high of $24.75 on Monday, which comes less than a day after falling to a bottom of $22.68. This move means that the…

3AC, Coinflex founders collaborating to raise $25M for new claims trading exchange

Founders of collapsed crypto hedge fund Three Arrows Capital Su Zhu and Kyle Davies are reportedly trying to raise money for a new cryptocurrency exchange in partnership with Coinflex cofounders Mark Lamb and Sudhu Arumugam. According to a pitch deck, they are looking to raise $25 million.  The proposed new exchange is to be called GTX, according to the presentation. It promised to crack the claims market as well: “Our legal team will streamline and automate claims onboarding to GTX and make it the dominant marketplace for FTX and other…

What Matters In Crypto This Week: Will Bitcoin Keep Pumping?

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Even though the next FOMC meeting of the U.S. Federal Reserve is still more than two weeks away, there are significant macroeconomic as well as crypto and Bitcoin-intrinsic events this week that investors should keep an eye on. As in previous weeks and months, it is very likely that the macro environments will steer the sentiment in the crypto market. After the December 2022 CPI was released last Thursday at 6.5%, the crypto market turned strongly bullish. Bitcoin rallied more than 18% after the publication and stopped just short of…

Why is bitcoin (BTC) rallying in January?

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A number of factors are behind bitcoin’s New Year rise, according to analysts, including an increased probability of interest rates being lowered and purchases by large buyers known as “whales.” Filip Radwanski | Sopa Images | Lightrocket | Getty Images Bitcoin has begun 2023 on a positive note, with the price of the world’s largest digital token up roughly 26% since the start of January. On Saturday, bitcoin’s price rose above $21,000 per coin for the first time since Nov. 7. It’s still a far cry from the $68,990 record…

Why Recent On-Chain Feats Could Trigger Strong Investor Sentiment 

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Polkadot has been riding the crypto wave since the start of the broader market rally. According to CoinGecko, the biggest gainers in the entire space are altcoins. Polkadot (DOT) is among them. Although the token has been finding gains in the past two weeks, DOT has been down almost 3% in the past 24 hours. This has been the price action since the token has been rejected on the $6.5 price resistance range. At the time of writing, DOT is trading at $5.78, up 21% in the last seven days,…