Mining Pool Concentration Kadan Stadelmann, CTO of Komodo, has raised concerns about Bitcoin’s increasing centralization. He points out that two mining pools, Foundry USA and Antpool, control over 50% of Bitcoin’s hash rate. This concentration of power gives these pools significant influence over decision-making and potential censorship. Financial Institutions’ Involvement Stadelmann also highlights the growing…
Enhanced Performance and Accessibility Shibarium, the layer-2 blockchain from the creators of Shiba Inu (SHIB), has rolled out a major update that promises better performance and wider access. Multiple Wallet Support One key feature is support for multiple cryptocurrency wallets, including MetaMask, Coinbase Wallet, Rainbow, Trust Wallet, and Wallet Connect. This makes it easier for…
Supply Squeeze Bitcoin is like digital gold. To keep it scarce and valuable, the number of new Bitcoins released is cut in half every four years. This is called a “halving.” It’s like reducing the gold supply to make it more precious. Reward Reduction Miners who help verify Bitcoin transactions get paid in Bitcoins. On…
Crypto analyst Altcoin Sherpa warns that altcoins, such as Chainlink (LINK), may be entering a period of consolidation. Chainlink as an Example Sherpa points to Chainlink’s recent correction after a significant rally. He notes that many other altcoins have not experienced similar gains and are now also correcting. Sectors to Watch Despite the overall market…
Tether, the issuer of the popular stablecoin USDT, is branching out into new areas of business. The company has announced the creation of four new divisions: Data Focuses on emerging technologies like artificial intelligence (AI) and peer-to-peer platforms. Finance Aims to build financial infrastructure, including a digital asset tokenization platform. Power Ventures into crypto mining,…
A crypto investor who purchased Ethereum (ETH) at its lowest point in September 2022 is now selling some of their holdings. Whale’s Transactions Withdrew 96,638 ETH from Coinbase in September 2022 at an average price of $1,567. Deposited 15,000 ETH to Kraken in March 2023. Sent another 5,000 ETH to Kraken on Tuesday. Whale’s Holdings…
Crypto analyst Rekt Capital shares his insights on Bitcoin (BTC) after a recent 9% drop. Re-Accumulation and Fake Breakdowns Rekt Capital warns that Bitcoin’s current re-accumulation phase may lead to false assumptions of a breakdown. He notes that previous accumulation ranges have often included downward wicks that trick investors into thinking the trend is reversing,…
The Manipulation Scheme Avraham Eisenberg, also known as “Avi,” orchestrated a $110 million fraud against the Mango Markets crypto platform. He manipulated the price of the platform’s token, MNGO, to artificially inflate its value. This allowed him to exploit an exchange feature and withdraw funds without intending to repay them. Eisenberg’s Arrest and Trial Eisenberg…
Whale Behavior in the Market Downturn Bitcoin has been having a rough time lately, with its price dipping below $60,000 at one point. But what are the “whales” doing amid this market panic? Large Holders: The Giants of Bitcoin IntoTheBlock, a market intelligence platform, has shed light on the behavior of Bitcoin’s largest investors, known…
Suspects Arrested Hong Kong customs officials have arrested three individuals involved in a massive $230 million money laundering operation. The scheme involved a crypto platform and bank accounts linked to shell companies. Investigation The investigation revealed that one account received daily deposits of up to $4.9 million and facilitated 167 transactions. Two suspects allegedly handled…
