Month: August 2024

Final Mt. Gox repayments near as BitGo moves $2b in Bitcoin

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BitGo, the fifth and final crypto exchange working with the Mt. Gox Trustee, has made on-chain Bitcoin transactions ahead of creditor repayments. BitGo wallet labeled “bc1q26” transferred 33,105 Bitcoin (BTC) worth around $2 billion, on Aug. 12, according to Arkham data tracking Mt. Gox cryptocurrencies. Observers noticed the move following an earlier test transaction by BitGo, a common practice in web3 before sending major funds. Test transactions help to confirm the destination wallet and prevent the loss of assets. BitGo’s BTC transfer is likely the last step before Mt. Gox…

Strong Bearish Signal Appears In Solana Chart, Where Is Price Headed Next?

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Expectations of the Solana price going above $200 have been rampant with the most recent recovery. In some cases, predictions have reached as high as $1,000 for the cryptocurrency, but one crypto analyst is going in the opposite direction. In a recent analysis, Alan Santana has predicted a crash for the SOL price that could eliminate all of its gains from the past week. Solana Shows Similar Patterns To 2023 In the analysis, crypto analyst Alan Santana points out that the Solana cryptocurrency is showing similarities to a trend that…

Internet Computer Protocol Implements Threshold-Schnorr Signatures, Enhancing Bitcoin Integration

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The Internet Computer Protocol (ICP) has integrated threshold-Schnorr signatures and onchain Bitcoin block headers as part of its Deuterium milestone. This development aims to expand the utility of Bitcoin within the decentralized economy, allowing for new applications previously hindered by Bitcoin’s lack of native smart contract support. ICP Introduces Threshold-Schnorr Signatures to Boost Bitcoin Compatibility […] Original

Trump’s Potential Election Victory May be Bullish For Cryptocurrency Markets, Bernstein Says

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Crypto Wallet Holding $2B Mt. Gox Bitcoin (BTC) Sends Test Transaction as Distribution Continues: Arkham

Arkham explained the process of tagging the wallet as likely BitGo in a Telegram message to CoinDesk. “The address was clustered with a large input cluster which we were able to identify as BitGo due to custody structure and wallet types used,” an Arkham analyst said. “We’ve also been able to identify the other fur exchange partners used for Mt. Gox distributions, so there’s also a process of elimination.” Source

Bitcoin price risks falling to $44k if key support breaks

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As the recent Bitcoin price recovery stalls, there is a risk that the coin could drop by 25% in the coming weeks. Bitcoin (BTC) recovered by 27% from its lowest point on Aug. 5 but faced strong resistance at $62,000. It has recently lost key support at $60,000 and was trading at $59,000 on Aug. 13. Data from CoinGlass shows that Bitcoin’s 24-hour volume in the spot market has stabilized at $34 billion. However, open interest in the futures market has moved sideways in recent days, standing at $28 billion,…