Bitcoin has seen a spike in trading activity since the recent halving event. But it’s not just the halving that’s driving this surge. The Runes Token Standard The launch of the Runes token standard on the Bitcoin blockchain has been a major catalyst for the increase in transactions. Runes allows users to create tokens more…
Declining Whale Activity The Bitcoin network has seen a drop in large-value transactions over the past few weeks. This decline has coincided with the cryptocurrency’s price struggles. Whales and Market Influence Whales are individuals or entities that hold significant amounts of Bitcoin. Their large transactions can influence market dynamics and trigger price movements. Correlation with…
Phoenix Wallet, a popular Bitcoin wallet for Lightning Network payments, will no longer be available in the United States. Regulatory Discrimination The wallet’s parent company, ACINQ, has criticized the US government’s regulation of self-custodial wallets, which allow users to control their own funds without the involvement of a third party. The US authorities have recently…
Exponential Dampener Analyst Peter Brandt believes Bitcoin’s current bull run may be nearing its end. He points to the concept of “exponential decay,” where each bull cycle shows a smaller increase in price. This suggests that the current cycle may peak at around $72,723, which Bitcoin has already reached. Potential Price Retracements If Brandt’s analysis…
Whale Watch Whale transactions are big news in the crypto world, and Justin Sun, founder of TRON, is no exception. Recently, he’s been making some significant moves. New Wallet, New Purchases Lookonchain, an on-chain analytics platform, has noticed a new wallet receiving 7,402 ETH ($23.3 million) and 95.67 million USDT from Binance. The identity of…
Background Wasabi Wallet, a privacy-focused Bitcoin wallet, has blocked US users from accessing its services indefinitely. This move follows the recent arrest of Samourai Wallet founders for alleged money laundering. Why Did Wasabi Wallet Block US Users? Wasabi Wallet cited “recent announcements” by US authorities as the reason for its decision. It’s believed that the…
Solana (SOL), a rival to Ethereum (ETH), has seen a dramatic increase in investor allocations this year, according to a recent survey by CoinShares. Growing Interest The survey polled 64 investors worldwide, representing $600 billion in assets under management. It found that investors are diversifying their portfolios by allocating more to altcoins, with Solana being…
A former bank employee in New Jersey has admitted to stealing $105,000 from a deceased customer’s account. Uncovering the Scheme Jorge Nova, a former employee at a bank in Nutley, noticed that a deceased customer’s account continued to receive Social Security benefits. The retiree had passed away in 2014, but the Social Security Administration (SSA)…
New Powers for Law Enforcement The UK government has granted police new powers to seize crypto assets from suspects even before making arrests. These powers aim to combat sophisticated criminals who use cryptocurrencies to launder money and hide their activities. Expanding Authority The National Crime Agency (NCA) and police can now seize not only crypto…
Thomas Jordan, chairman of the Swiss National Bank (SNB), has expressed skepticism about holding Bitcoin as a reserve currency. Concerns over Liquidity and Stability Jordan explained that reserve currencies should be highly liquid and stable, allowing for easy buying and selling. He believes Bitcoin may not meet these criteria due to its volatility and limited…
