Bybit, a major cryptocurrency exchange, was hit hard by a massive hack. Over $1.5 billion in digital assets – mostly Ether – were stolen from their offline storage (cold wallet). The Heist The stolen Ether was quickly moved around and sold off on other platforms. This is considered the biggest crypto heist ever, dwarfing previous…
Bitcoin’s price recently dipped below $96,000 after briefly touching $99,000, leaving the market in a holding pattern. But a fascinating on-chain metric might hint at what’s next. The aSOPR: A Bitcoin Profitability Gauge Glassnode, a blockchain analytics firm, highlighted Bitcoin’s aSOPR (adjusted Spent Output Profit Ratio) hitting 1.01. This metric is crucial because it shows…
Ethereum’s price has been struggling. It’s currently below $2,700, and attempts to break above $2,800 have failed. Selling pressure is strong, and buyers haven’t been able to gain much momentum. The Bybit Hack and Market Sentiment Things got worse on Friday with the Bybit hack, resulting in a massive $1.4 billion loss in ETH. This…
US household debt has exploded to a staggering $18.04 trillion, a new record high. This is according to a recent report from the Federal Reserve Bank of New York. Debt Breakdown The massive debt figure represents a $93 billion increase from the previous quarter and a whopping $3.9 trillion jump since the end of 2019….
A popular crypto analyst, Credible Crypto, is eyeing a Solana-based memecoin called DogWifHat (WIF) as a potential long-term investment. However, they’re not diving in headfirst. WIF: Attractive Levels, But Risky Business Credible Crypto, with a huge following on X (formerly Twitter), suggests that WIF is nearing prices they consider attractive for buying and holding until…
A popular crypto analyst, Inmortal, is predicting some big moves in the crypto market. They believe that Solana (SOL), a major Ethereum competitor, is likely to see a price drop before a significant rally. Solana’s Price Dip Predicted Inmortal, who boasts over 200,000 followers on X (formerly Twitter), suggests that SOL could fall further before…
A popular crypto trader, Kevin Svenson, is predicting a significant Bitcoin price increase. He’s basing his bullish outlook on a key technical indicator. The RSI Indicator Points Up Svenson, who boasts a large YouTube following, is focusing on the weekly Relative Strength Index (RSI). He considers this indicator a reliable predictor of Bitcoin price movements….
The SEC is dropping its lawsuit against Coinbase, marking a major win for the cryptocurrency exchange and the entire crypto industry. This decision signals a potential shift in the SEC’s approach to crypto regulation. The SEC Backs Down After a 20-month legal battle, the SEC’s staff has agreed to withdraw its case against Coinbase. Coinbase…
A former Bybit employee is heading to prison for almost a decade after a massive crypto scam. The Crime Ho Kai Xin, a payroll worker, was sentenced to nine years and eleven months for defrauding her employer, Bybit, a cryptocurrency exchange based in Seychelles. Her crimes included cheating, money laundering, and lying to authorities. Between…
Societe Generale, a major French bank, just launched a new euro-backed stablecoin called $EURCV on the Stellar network. This could seriously change how we do stablecoin transactions. Why is $EURCV a Big Deal? $EURCV offers several key advantages: Better Compliance: It’s designed to meet stricter regulations. Lower Costs: Transactions should be cheaper. Better Scalability: It…
