Day: December 9, 2023

Exchange Supply Hits Lowest Level Since 2017

On-chain data has revealed an increasing sentiment of holding Bitcoin among investors. Bitcoin has been on a roll since the start of the month, pushing its price to new yearly highs. At the same time, exchange data from CryptoQuant reveals that the crypto might be gearing up for a sustained bull run. According to the on-chain analytics platform, Bitcoin’s exchange supply, the amount available for purchase on exchanges, has dropped to its lowest levels since 2017  Exchange Supply Drops To Lowest Level In Six Years The Bitcoin market is flashing…

Tether announces wallet-freezing policy for OFAC-sanctioned persons

boss

Stablecoin issuer Tether has announced another step toward cooperation with law enforcement and regulatory agencies by initiating a voluntary wallet-freezing policy, according to a blog post on Dec. 9.  Since Dec. 1, Tether has been offering on the secondary market controls to freeze activity connected with Sanctioned persons on the United States Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List. Companies and individuals controlled or owned by sanctioned countries are included on the list. According to Tether, the policy will supplement existing security protocols and is a…

NEAR Protocol rallying as Galaxy Fox stage 2 presale nearly sells out

In the last 30 days, Near Protocol (NEAR) has been trending higher, reaching $2.04, rising in sync with Bitcoin (BTC). Meanwhile, Galaxy Fox (GFOX), a meme coin project, is in stage 3 of its presale. What is Galaxy Fox? Galaxy Fox is a new meme coin project aiming to establish itself alongside established players like Dogecoin, Shiba Inu, and PepeCoin, as well as play-to-earn (P2E) projects like Sandbox and Axie Infinity. In stage 3 of the presale, the project has sold over 70% of GFOX, raising nearly $500,000.  GFOX holders can…

Lifinity USDC pool drained by arbitrage bot

boss

Decentralized exchange (DEX) Lifinity had its LFNTY-USDC pool drained by an arbitrage bot on Dec. 8. According to Lifinity’s Discord channel, an unexpected response to a failed trade caused the $699,090 loss. A Lifinity’s core member known as Durden explained that a bot attempted an arbitrage trade following the route USDC > xLFNTY > LFNTY > USDC, trying to profit from price discrepancies between different trading pairs. Here’s how the events transpired in the @Lifinity_io Discord when the 700k arb happened I noticed something wrong with LFNTY’s price and alerted…

South Africa watchdog urges crypto firms to set up shop

South Africa’s financial regulators want crypto startups operating in the country with foreign head offices to set up local offices to ensure “appropriate oversight and ensure accountability.” Per a recent study from the Financial Sector Conduct Authority (FSCA), approximately 10% of virtual currency service providers in South Africa have their centers of operation abroad. The FSCA argues that oversight in South Africa became “insufficient” after cryptocurrencies were declared financial products last year. To offset the issues, the agency wants companies to set up shop. 🇿🇦 REGULATION | South African Regulator…

Analyst Places XRP As The Top Coin For The 2024-2025 Bull Run

Prominent altcoin, XRP, has produced a positive performance in the last day, rising by 6.92%, according to data from CoinMarketCap. This price increase adds to the token’s impressive form all week, culminating in an 11.85% gain in the last seven days.  Interestingly, it appears there may be larger gains for XRP investors in the coming months as popular crypto analyst Ben Armstrong has placed the token as the most favorable asset for investment ahead of a potential 2024-2025 bull crypto market. XRP Is The Token To Buy In 2024, Analyst…

How To Mine Bitcoin And Crypto

boss

Mining Bitcoin is the cornerstone of the BTC network, providing both security and new Bitcoins into circulation. This essential process involves powerful computers solving complex mathematical problems to validate transactions on the network. As a reward for this computational work, miners receive new bitcoins, making it a potentially lucrative endeavor. In this guide, we will explore the key aspects of “How to mine Bitcoin.” From understanding the basic mechanisms of how mining Bitcoin works to evaluating its economic feasibility, including the costs, potential earnings, and the time it takes to…

Cardano Rises $56% To Dominate Top 10 Roster

boss

Altcoins such as Cardano (ADA) had a widespread increase in value, similar to the altcoin cycle observed in early November. This cycle occurred when the momentum of Bitcoin slowed down, prompting traders to secure profits and allocate their investments towards smaller cryptocurrencies. Because of the consistent price of Bitcoin (BTC), which encouraged capital rotation to alternative coins, native tokens associated with layer 1 (L1) blockchains saw the greatest gains on Saturday. Cardano (ADA) was the top performer in the weekend’s top 10 rankings. According to Coingecko data, ADA price increased…

Decentralization forces politicians like Sen. Warren to hate Bitcoin

boss

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. US presidential hopeful Vivek Ramaswamy recently said Senator Elizabeth Warren’s (D-Mass.) stance on Bitcoin (BTC) is due to the fact that she believes the state is superior to the individual. “Those of us who are having this conversation believe that we, as individuals, create a government that’s accountable to us,” said Ramaswamy on the WhatBitcoinDid podcast. He continued: “The alternative worldview, to understand it, is that the…

Bitcoin dominance threatens ‘likely top’ despite BTC price eyeing $45K

boss

Bitcoin (BTC) risks “rolling over” to cancel its latest uptrend, new analysis warns as altcoins surge. In a post on X (formerly Twitter) on Dec. 9, popular analyst and social media commentator Matthew Hyland flipped cautious on BTC price action. Bitcoin dominance risks violating key level Bitcoin bulls kept momentum hot into the end of the week’s Wall Street trading — BTC/USD sealed new 19-month highs of $44,729 on Bitstamp on Dec. 8. Data from Cointelegraph Markets Pro and TradingView tracked a subsequent return below the $44,000 mark, with Bitcoin…