Day: February 4, 2024

Number Of Whale Wallets Reaches Highest Count In 15 Months

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Bitcoin, the largest crypto asset, is currently at a standstill from the viewpoint of many investors considering current market factors. The crypto mostly traded between $41,000 and $45,500 last week after recovering from a brief dip below $40,000 on January 23.  Although the price action has been underwhelming, on-chain data indicates that large holders have been adding more to their wallets, bringing the total number of wallets to the highest it has been in 15 months. At the same time, the holding pattern indicates smaller whales have been adding to…

Chainlink Price Stalls As $287 Million Worth Of LINK Makes Its Way To Binance

The price performance of Chainlink is one of the previous week’s biggest narratives, rivaling Bitcoin making its way above $43,000 again. According to data from CoinGecko, the altcoin recorded a significant 25% price increase in the last seven days. However, the price of LINK seems to be slowing down, as it keeps struggling to hold above the $18 level. While expectations are that this sluggishness will blow over soon, the question still is – why is the Chainlink price stalling? 16 Million LINK Tokens Transferred To Binance The latest on-chain revelation…

Crypto enforcement, Ripple hack, FTX plans

This week saw a surge in global crypto enforcement actions, with the U.S., Germany and Hong Kong taking center stage. Ripple co-founder and chairman Chris Larsen suffered a massive hack. Meanwhile, FTX disclosed plans to fully repay its customers. Enforcement actions Multiple enforcement actions rocked the crypto scene this week, with the U.S. accounting for a substantial amount. The U.S. Department of Justice (DoJ) leveled charges against Belarusian national Aliaksandr Klimenka in a case involving Russian crypto exchange platform BTC-e. In a subsequent enforcement action, the DoJ also brought charges…

Beijing enhances crypto mining, energy conservation plan

Beijing released an updated implementation plan for strengthening energy conservation, explicitly stating measures that will crack down on cryptocurrency mining activities.  The Beijing Municipal Development and Reform Commission, along with 11 other departments, issued a detailed notice underscoring their commitment to a dual control system of energy consumption and carbon emissions.  Beijing, China, requires strengthening the monitoring and analysis of cryptocurrency mining activities in 2024 and resolutely cracking down on cryptocurrency-related mining activities in Beijing in accordance with laws and regulations. https://t.co/uY6eUTc3Vx — Wu Blockchain (@WuBlockchain) February 4, 2024 This…

WHAT IS XRP LEDGER (XRP)?

XRP Ledger, created by Ripple Labs Inc., is an open-source blockchain technology and digital asset. This means that developers can contribute to its development and enhance its functionality. XRP serves as the native cryptocurrency of the XRP Ledger and is the commonly recognized name for it. The XRP Ledger is purposefully designed to enable swift, cost-effective, and secure transactions. It functions as a distributed ledger, where transaction records are stored across a network of validators, which are participating computers, ensuring the integrity of the ledger. XRP has garnered significant recognition…

Bitcoin Oracle’s Pre-Halving Proclamation Sparks Excitement

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As the eagerly awaited Bitcoin halving event approaches in April, cryptocurrency analysts are engaging in spirited discussions about the potential trajectory of the leading cryptocurrency’s price. Offering his insights, Michaël van de Poppe, the founder and CEO of MN Trading, has shared his predictions, outlining a period of consolidation before potential growth, with a particular emphasis on the anticipated outperformance of certain altcoins. Bullish Long-Term Outlook Amidst Short-Term Consolidation Van de Poppe envisions a phase of consolidation for Bitcoin in the upcoming months, with a suggested price range oscillating between…

Bitcoin Cash and Cardano holders shift focus to Pushd

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Cardano (ADA) falls, some Bitcoin Cash (BCH) are concerned about its volatility and are examining the Pushd (PUSHD) presale.  Bitcoin Cash and Cardano holders seeking alternatives Bitcoin Cash is volatile, forcing holders to explore alternatives. BCH is trading at around $237, down 93.9% from its all-time high of $3,909. ADA investors are also frustrated by slow network development. The coin is under pressure, dropping to $0.50, down from…

Soros Fund co-founder says Bitcoin isn’t a government threat

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Bitcoin (BTC) is not a threat to governments, according to renowned investor and Soros Fund Management co-founder Jim Rogers. In an interview with Kitco News on Jan. 31, Rodgers explained that he sees Bitcoin as a trading vehicle and emphasized that it doesn’t pose a threat to governments in terms of replacing established currencies or legal tenders. Rogers, who in the 1990s designed the Rogers International Commodity Index, a broad index of commodity futures, maintains that cryptocurrency is not a threat to governments. If it was, governments would likely take…

What Is Kaspa (KAS) Blockchain?

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The Kaspa (KAS) blockchain is a decentralized, open-source, and scalable Layer-1 solution often referred to as “Bitcoin 2.0” or “the next Bitcoin.” However, Kaspa is unique in its own way despite functioning very similarly to Bitcoin. Just like Bitcoin, Kaspa is a proof of work (PoW) cryptocurrency, but unlike other traditional blockchains, Kaspa implemented the GHOSTDAG protocol. This protocol is unique in the fact that it does not have orphan blocks created in parallel. Rather, it allows them to coexist and orders them in consensus. This makes Kaspa the first…

Bankrupt Genesis seeks to sell over $1b Bitcoin trust shares

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Genesis Global Capital has petitioned the U.S. Bankruptcy Court for the Southern District of New York for permission to conduct a massive sale of its assets. The company, a subsidiary of the embattled Genesis Global Holdco, is targeting the liquidation of approximately $1.4 billion worth of Grayscale Bitcoin Trust (GBTC) shares. Genesis Global Capital filed a new motion with the U.S. Bankruptcy Court for the Southern District of New York seeking authorization to sell approximately $1.6 billion in trust assets, including Grayscale GBTC valued at approximately $1.4 billion and Grayscale…