The US Department of Justice (DOJ) has cracked down on a major dark web drug operation, seizing $100 million in cryptocurrency. Incognito Market: The Dark Web Drug Bazaar In October 2020, Incognito Market emerged as a dark web marketplace for illegal narcotics. It allegedly facilitated over $100 million worth of crypto transactions in drugs, including…
Centralized Control: The Genesis Keys Justin Bons, a venture capitalist, has criticized Cardano, claiming it’s not as decentralized as it claims. He highlights the “genesis keys,” a multi-signature system that gives Input Output Global (IOG), the company behind Cardano, excessive power. IOG controls five of the seven genesis keys, which allow them to unilaterally change…
Altcoins at Risk According to analyst Benjamin Cowen, Bitcoin (BTC) is likely to continue trading near its record highs, at the expense of altcoins. Cowen believes that the only reason Bitcoin remains above $60,000 is due to traders shifting funds from altcoins into BTC. Liquidity Exhaustion Cowen warns that a larger correction in Bitcoin and…
A wealthy investor has started buying large amounts of a cryptocurrency similar to Dogecoin from the popular US crypto exchange Coinbase. Details of the Purchase According to data from the digital asset tracker Lookonchain, the investor spent $606,000 to buy almost 228,000 units of the memecoin dogwifhat (WIF). Other Whale Activity Lookonchain also reported that…
Macro strategist Jim Bianco has revealed that retail investors hold a staggering 85% of shares in spot Bitcoin exchange-traded funds (ETFs) as of the first quarter of 2024. Breaking Down Investor Types According to Bianco’s analysis of mandatory 13F filings with the SEC, investment advisors hold only a small portion of these ETFs, ranging from…
A renowned crypto strategist has predicted the timeline for Bitcoin’s next major upswing. Post-Halving Accumulation The analyst, known as Rekt Capital, suggests that Bitcoin is currently in a post-halving reaccumulation phase. Historically, this phase has lasted around 160 days before a significant upward move. Bullish Breakout Rekt Capital notes that Bitcoin has broken out of…
Profitability Skyrockets After a recent price spike, data reveals that a whopping 90% of Ethereum investors are now in the green. This means they bought their ETH at a lower price than it’s currently worth. Breakdown of Profitability 90% of investors: In profit 0% of investors: In loss 10% of investors: Break-even Potential Impact Historically,…
The potential approval of a Spot Ethereum ETF has sparked excitement in the crypto community. Now, experts are suggesting that Solana (SOL) could be the next cryptocurrency in line for ETF consideration. Is Solana the Next Candidate? Daniel Yan, co-founder of Matrixport, believes that Solana is a strong candidate for an ETF due to its…
Centralization Allegations Justin Bons, founder of Cyber Capital, has raised concerns about Cardano’s centralization. He claims that the blockchain has “Genesis Keys” that give a small group significant control over the network. IOG’s Control Bons alleges that Input Output Global (IOG), the company behind Cardano, holds five of the seven Genesis Keys. This gives IOG…
Lack of Clarity Hinders Innovation Cryptocurrency expert Adam Cochran has criticized SEC Chairman Gary Gensler for the ongoing lack of clarity regarding Ethereum’s regulatory status. Cochran believes the SEC’s ambiguous stance is stifling innovation and creating uncertainty in the crypto market. Need for Gensler to Address Ethereum’s Legal Status Cochran urges Gensler to clarify in…
