Surge in Burn Rate The Shiba Inu (SHIB) burn rate has skyrocketed by over 17,000% in the past 24 hours, according to Shibburn. This surge has seen a massive 56 million SHIB tokens burned. Impact on Price The burn initiative has been instrumental in boosting SHIB’s price, which has recently made a notable recovery. Large-scale…
The Halving’s Impact As the Bitcoin halving approaches, industry expert Mark Yusko predicts a surge in price. He estimates Bitcoin’s “fair value” at $50,000 using Metcalfe’s law, which measures network effects. The halving, which reduces miner rewards, is expected to disrupt supply and potentially lead to price increases. However, Yusko acknowledges the emergence of transaction…
On-Chain Transactions and Their Impact Sam Bankman-Fried (SBF), the former CEO of FTX, made a series of lesser-known on-chain transactions that had significant consequences for the crypto industry. stETH Sale: SBF sold $75 million of staked ETH (stETH) in January 2022, leading to a depeg event that triggered bank runs on Celsius and Three Arrows…
Odds of Approval Dwindling Bloomberg analyst Eric Balchunas is now only giving a 25% chance of Ethereum Spot Exchange-Traded Funds (ETFs) being approved in May. He’s even considering lowering that estimate. Bitwise’s Latest Filing Bitwise Invest has filed for an Ethereum ETF, using a Form S-1 registration statement. They also filed a 19b-4 form to…
Prompts: Not So Private ChatGPT-like tools store past conversations for reference, but this poses risks. If hacked, prompts could be exposed, potentially revealing sensitive or embarrassing information. Samsung banned employees from using AI tools after an incident involving leaked source code. Custom AI Models: Not Fully Private Organizations can create custom AI models using their…
Crypto analyst Jason Pizzino has shared his latest outlook on Bitcoin’s (BTC) future in the ongoing bull market. Key Price Targets Pizzino is monitoring Bitcoin’s progress towards several key price targets: $72,500 $74,000 (all-time high) $78,500 $81,000 Altcoin Season Trigger Pizzino believes that if Bitcoin breaks above $78,000 and consolidates above $82,000, it could trigger…
Guilty of Fraud Former FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted of fraud charges. Bankman-Fried was found guilty of mishandling FTX funds, leading to the exchange’s collapse in 2022. Misuse of Customer Deposits Bankman-Fried is accused of loaning billions of dollars in customer deposits to Alameda Research,…
Investigation into Sanctions Evasion US and UK authorities are investigating a massive transfer of $20 billion worth of crypto assets to a Russian crypto exchange, Garantex. The probe is part of a crackdown on individuals and entities evading sanctions imposed on Russia. Garantex’s Role Garantex, a Moscow-based crypto exchange, is suspected of facilitating illicit transactions…
New Rule for Crypto Assets Indonesia’s Financial Services Authority (OJK) has introduced a new rule requiring crypto companies to test their products in a “Regulatory Sandbox.” This move aims to promote innovation and protect consumers from scams. Regulatory Sandbox Explained The Regulatory Sandbox is a testing environment where crypto firms can evaluate the reliability of…
Difficulty Drop Bitcoin’s mining difficulty has dropped slightly, indicating that miners may be pausing their expansion plans. The difficulty adjustment ensures that blocks are found at a consistent rate, preventing inflation. Hashrate Plateau Despite the difficulty drop, the hashrate (mining power) has remained stable. This suggests that miners are not actively increasing their computing resources….
