Day: December 26, 2023

Mt. Gox Creditors Finally Receiving Compensation after Decade-Long Wait

The extended wait for repayment has been a source of frustration for Mt. Gox creditors, and the delay has led to speculation about its potential impact on the crypto market. After a decade of uncertainty and numerous delays, creditors of the now-defunct crypto exchange Mt. Gox are finally starting to receive compensation for their blocked Bitcoin deposits. The process, initiated by the trustee overseeing Mt. Gox’s estate has kicked off with repayments sent in Japanese Yen through PayPal, as reported by users on various social media platforms. Delayed Compensation to…

Harmony To See Redemption? Analyst Predicts Meteoric 650% Rise For ONE Token

boss

The Harmony blockchain fell victim to one of the most infamous hacks in decentralized finance (DeFi) history and the fallout from that attack in 2022 saw the ONE price tank tremendously, losing over 98% of its all-time high value. However, one year later, the cryptocurrency seems to be making a comeback as investors and traders flip bullish once again. Crypto Analyst Predicts Great Things For ONE Token Crypto analyst Alan Santana has shared an analysis of the ONE token, the native cryptocurrency of the Harmony blockchain. In this analysis that…

Hong Kong Leads Asia’s Crypto Regulatory Evolution in 2023

Aside from Hong Kong, another country that has contributed significantly to the growth of the Asian crypto economy is Singapore.  As the curtain draws nearer towards the end of 2023, Hong Kong has emerged as a significant player in shaping the regulatory landscape for crypto assets in Asia, the Block reported on Tuesday. Despite the many challenges faced in other jurisdictions around the world, there has been notable progress in the regulatory environment for the digital asset industry this year in the Asia-Pacific region, with Hong Kong leading the way.…

AI Overtakes Crypto in Google Searches for 2023

AI has overtaken crypto in Google searches for the first time since 2020. This is credited to the rise of generative AIs like ChatGPT and the crypto winter. As 2023 is rolling to a close, the industry as a whole is looking back on the year and taking stock of how it performed. One way we’ve done this in the past is by looking at Google search trends. As the biggest search engine on the planet, Google gives us insight into what was popular in a given year. This year,…

Bitcoin (BTC) Hashrate Hits New High but Profitability on Decline

In 2023, the Bitcoin hashrate has surged by a staggering 130% which shows growing competition and reduced profitability for miners. The computing power of the Bitcoin network, also known as the mining hashrate, hit a record high on Christmas Day, adding to the challenges faced by miners in the wake of declining profitability. Blockchain.com reported that on December 25, Bitcoin’s hash rate achieved an unprecedented level of 544 exahashes per second (EH/s), a data point corroborated by Bitinfocharts, which recorded an average hash rate peak over the weekend. This development…

Can ATOM Sustain Its 13% Surge?

boss

ATOM has ascended to the summit of network activity within the inter-Blockchain ecosystem. However, upon closer inspection, the narrative surrounding Cosmos unveils a more nuanced story. Despite the accolade of being at the forefront of blockchain network activity, a discerning analysis reveals a dip in actual user engagement and transaction volumes. Surprisingly, against the backdrop of these statistics, Cosmos has witnessed a remarkable 13% surge in its token price over the past week, prompting a deeper inquiry into the factors propelling its momentum. Digging Deeper: Beyond Buzzwords Although Cosmos received…

Bitcoin hash rate hits new high with 544 EH/s

boss

The Bitcoin (BTC) network hashrate reached a record high of 544 exahashes per second (EH/s). According to Blockchain.com, the hash rate reached a record high on Dec. 25. The network’s hash rate has doubled this year, rising 130% since January. Source: Blockchain.com Notably, during the same period that BTC’s hash rate increased, the asset’s price almost followed suit, rising more than 150% since Jan. 1, 2023. At the same time, the hash price, a measure of profitability, has fallen over the past week as the Ordinals’ craze for BRC-20 has…

Indian engineer loses $114K to crypto investment scam

In a distressing disclosure, a 53-year-old Indian engineer recently fell prey to a cryptocurrency investment scam that resulted in a loss of Rs 95 lakh — equivalent to US$114,230.  The unsuspecting victim, who lives in the Indian city of Bengaluru, was lured into the scam by a person named Sonia Shenoy, whom he met on Instagram two years back. Shenoy purported to represent a global investment firm dealing in Bitcoin (BTC). The engineer trusted Shenoy’s representations and decided to invest over $114,000 worth of BTC last January, per the report.…

Spot Bitcoin ETFs inflows to dwarf all 150 crypto ETPs

Spot Bitcoin ETFs in the U.S. could eclipse the entire cryptocurrency exchange-traded product (ETP) market. As BitMEX analysts note, the cryptocurrency ETP market has 150 products and has a valuation of $50.3 billion as of Dec. 22, 2023. The list includes spot and futures funds that typically track the performance of Bitcoin (BTC) and Ethereum (ETH). The largest ETP on the list is Grayscale’s Bitcoin Trust, which is currently attempting to convert into a spot ETF product. Of the 150 crypto funds, the 20 largest ETFs attracted the most investment,…