Day: December 28, 2023

Crypto dashboard Ledger Live tracks user data, researcher says

A researcher revealed questionable practices by Ledger that raises important privacy concerns about the leading crypto wallet. In a recent X thread a cryptocurrency researcher unveiled practices by Ledger that raise concerns about privacy for Ledger Live users. The researcher particularly raised concerns regarding how Ledger Live manages user data and the limited options for offline use on Ledger hardware wallets. According to @rektbuildr’s findings, Ledger Live actively monitors users and gathers data, performing a device check whenever a Ledger device connects. Ledger Live embeds the genuine check into the…

Spot Bitcoin ETF Approval May Trigger Drop To $32,000, Here’s Why

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A recent report from CryptoQuant has sparked discussions, suggesting that a Bitcoin spot exchange-traded fund (ETF) approval by the US Securities and Exchange Commission (SEC) could lead to a significant market event. This possibility arises amid the Bitcoin (BTC) price stabilizing above $40,000, leaving many market participants sitting on substantial unrealized profits. The report by CryptoQuant particularly posits that this scenario could trigger a “sell the news” event, historically linked to market corrections. Bitcoin Possible Drop To $32,000 CryptoQuant’s analysis points to the current state of Bitcoin holders as a…

Crypto vs. traditional finance in 2023

Today’s investors face many options beyond stocks and bonds, with crypto vs. traditional finance becoming an increasingly common discourse. Both public and private players are constantly searching for opportunities to deploy capital into investment vehicles that yield substantial returns while posing minimal risk. However, the nature of risk appetite has evolved in the last decade with the emergence of a new asset class accessible from anywhere in the world. Before committing resources to any industry, whether it’s decentralized finance (defi) or traditional markets, investors need to understand what separates the…

Cathie Wood’s ARK ETF Overhauls Bitcoin Portfolio: ProShares In, Grayscale Out

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In a significant shake-up of its Bitcoin (BTC)-related holdings, Cathie Wood’s ARK Next Generation Internet exchange-traded fund (ETF) has made strategic changes as BTC ends the year with a significant 156% surge. According to a Bloomberg report, the ETF sold all its remaining 2.25 million shares of the Grayscale Bitcoin Trust (GBTC) while acquiring 4.32 million shares of the ProShares Bitcoin Strategy ETF.  Caution As Reason For Exiting Grayscale Bitcoin Trust According to Bloomberg, Wood cited caution as the reason behind the sale of the Grayscale Bitcoin Trust. The move…

Monex acquires 3iQ majority for crypto-asset integration

Japanese financial group Monex is set to acquire a majority stake in Canadian digital asset manager 3iQ. The acquisition continues a trend of major crypto exchanges venturing into asset management. Monex, which owns TradeStation in the U.S. and acquired Coincheck in 2018, has not disclosed the deal’s financial details. 3iQ gained prominence for its Bitcoin ETF listed in Canada, being among the first to introduce such a fund in 2020. Despite reaching $755 million in assets shortly after launch, it has since settled at around $100 million. 3iQ broke new…

Bitcoin Whales Bought The Recent Dip While Market Panicked

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On-chain data suggests the Bitcoin whales may have participated in a significant amount of buying while the market was panicking about the recent lows. Bitcoin Exchange Netflow Has Been Quite Negative Recently An analyst in a CryptoQuant Quicktake post pointed out that the exchanges have recently seen outflows. The indicator of interest here is the “exchange netflow,” which keeps track of the net amount of Bitcoin entering or exiting out of the wallets of all centralized exchanges. The metric’s value is calculated by subtracting the outflows from the inflows. When…

Decentralized Exchange Altcoin Soars Nearly 70% in a Week Amid Massive Support for Proposed Cuts in Token Supply

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One decentralized exchange (DEX) platform is skyrocketing as its community shows overwhelming support for its proposed supply cut of tokens. In a new proposal, over 97% of the community members of decentralized crypto exchange PancakeSwap (CAKE) voted to lower the digital asset’s token supply to a maximum cap of 450 million. “Now that CAKE has achieved consistent deflation for several months and is focusing on accelerating our journey to ultrasound CAKE, this proposal aims to reduce the CAKE token’s total supply to a maximum cap of 450 million CAKE. With…

Bitcoin SV surges 30%, BTT and ICP emerge as top cryptocurrency gainers

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Bitcoin SV, BitTorrent, and Internet Computer topped today’s cryptocurrency charts with impressive gains. Bitcoin SV (BSV), a hard fork token from Bitcoin, has climbed 30% today and over 80% in the past week. This remarkable growth in BSV’s value is largely attributed to heightened activity from Korean traders. A significant increase in trading volume on Upbit, South Korea’s largest crypto exchange, has been a key driver. Statistics show Bitcoin SV’s trading volume on Upbit reaching a dominant 66.8%, with a value exceeding $503 million. This trading frenzy has propelled Bitcoin…