Day: October 30, 2023

Thailand’s KBank acquires crypto exchange business Satang

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Thailand’s Kasikornbank — one of the largest banks in the country — is moving into the cryptocurrency industry by acquiring a majority stake in the local crypto exchange Satang. Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, according to an announcement published on Oct. 30 on the website of the Stock Exchange of Thailand (SET). According to Kasikornbank, the acquisition is valued at 3.7 billion Thai baht ($103 million). The transaction is being made through KBank’s new subsidiary, Unita Capital, which…

Bitcoin Poised For Another Surge Like Last Week: Here’s Why

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In a recent statement via X (formerly Twitter), Alex Thorn, head of firm wide research at digital asset firm Galaxy, highlighted the potential for another Bitcoin gamma squeeze similar to the one witnessed last week. BTC gained 15% last week. He remarked, “The Bitcoin gamma squeeze from last week could happen again. If BTCUSD moves higher to $35,750-36k, options dealers will need to buy $20m in spot BTC for every 1% upside move, which could cause explosiveness if we begin to move up towards those levels.” Elaborating on the mechanics,…

Bitcoin holds above $34k, sell signal is still there

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Bitcoin (BTC) gained bullish traction two weeks ago with the high anticipation of the spot ETF approval, but a key indicator still shows high volatility for the asset. According to data provided by the market intelligence platform Santiment, Bitcoin’s whale activity and social volume dropped significantly over the past week. The plunge comes while the flagship cryptocurrency took a notable dive from the $35,000 mark to almost $33,000 on Oct. 26. BTC price, whale and social activity – Oct. 30 | Source: Santiment Per Santiment, the number of whale transactions…

Report reveals reason why wallet users lose crypto

Loading fake wallet apps on search engines is why many people lose coins. According to Bitrace, Telegram often implements malicious backdoors that identify surrogate addresses and cause funds to be sent to malicious addresses. The reason is that the anonymous nature of the blockchain network makes it difficult for ordinary investors and investigators to establish a connection between an on-chain address and a real person. Thereby, they miss the opportunity to freeze losses promptly. “Investors and investigators need to consider how to perceive threats before risky activity occurs, and monitor…

3 unique ways hackers are stealing your crypto: Bitrace Report

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To track down and counter the sudden disappearance of tokens from crypto wallets requires investors to know the various ways bad actors use to steal cryptocurrencies successfully.  Blockchain investigator Bitrace has identified three effective ways hackers gain access to crypto investors’ wallets: through search engines, such as Google and Bing, pasteboard hijacking and liquidity mining and coin theft. Crypto investors claiming “my coins disappeared suddenly” have been found to have recently downloaded crypto applications from unverified sources. Attackers use search engine optimization (SEO) techniques to rank higher on internet searches, unknowingly…

End of ‘Uptober’ targets $40K BTC price — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week at comfortable highs as traders square off over BTC price action to come. As macroeconomic uncertainty continues to grow, Bitcoin is cementing its new trading zone above $30,000. The highest weekly close since early May 2022 is the latest achievement for bulls, and so far, bid support has allowed the market to avoid a deep retracement after last week’s snap 15% gains. How could the environment change for BTC/USD this week? As Bitcoin heads into the October monthly close, would-be volatility catalysts are brewing…

El Salvador to Easily Turn to ‘Singapore of Americas’

Having adopted Bitcoin alongside the United States dollar as the legal tender two years ago, El Salvador has attracted significant capital investment through tourism and immigration compared to its neighbors. Amid the global economic shift caused by the fast growth of the BRICS alliance, the Middle East crisis, and the Russia vs Ukraine war, El Salvador has been named an economic powerhouse for the Central American region since its move to adopt Bitcoin (BTC) alongside the United States dollar as the legal tender. The Spanish country with a population of…

Charting The Dogecoin Path: More Gains On the Horizon?

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Dogecoin (DOGE) continues its remarkable ascent in the cryptocurrency market, garnering attention from investors and enthusiasts alike. Over the past two years, DOGE has exhibited a strong affinity for an ascending trendline, which has played a pivotal role as a dynamic support mechanism. This trendline, indicative of the coin’s consistent upward trajectory, has become a defining feature of the meme coin’s journey. In the last six months, the price of Dogecoin has entered a consolidation chapter, repeatedly rebounding off the ascending support trendline situated in the $0.055-$0.06 range. The significance…

November Outlook For Bitcoin Price: Another Pump Or Retrace?

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November has often been a standout month for Bitcoin, with historical data indicating an impressive average price jump of 43%. This would propel Bitcoin to around $48,000. But with October already showing a significant price increase, the question arises: Will Bitcoin continue its bullish trend, or is a retrace on the horizon? November Monthly Returns November has been particularly bullish for Bitcoin over time, with an average of 43% of price increases over the years. If this trend holds true for this year, we might see Bitcoin touching $48,000. Related…

Standard Chartered-owned crypto platform Zodia launches in Hong Kong

Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong. Zodia Custody is launching services in Hong Kong in response to growing demand for crypto from institutions, Zodia CEO Julian Sawyer said, according to a CNBC report on Oct. 29. According to Sawyer, the crypto demand in Hong Kong is mainly driven by institutional investors rather than retail customers, ideally matching Zodia’s crypto custody offering. He also mentioned that Hong Kong’s…