Legendary trader Peter Brandt, known for predicting the 2017 Bitcoin crash, weighs in on the crypto king’s recent surge. Bull Market Just Getting Started? Brandt believes Bitcoin’s bull market is still in its early stages, despite a 45% surge in the past month. He compares the current monthly candle to one seen in late 2020,…
Profitability Skyrockets Bitcoin has been on a wild ride lately, with prices surging. This has led to a massive increase in profitable Bitcoin addresses. For the first time in over two years, 97% of all Bitcoin addresses are now in the green. Majority of Addresses in Profit According to IntoTheBlock, over 50 million Bitcoin addresses…
Despite ongoing efforts to enhance security, the crypto industry remains vulnerable to malicious activities. In February alone, crypto scams and hacks resulted in losses exceeding $160 million. Exploits and Vulnerabilities Exploits of vulnerabilities in crypto projects accounted for the majority of February’s losses, amounting to approximately $101 million. Notably, Certik reported several instances of exploits…
Tax Troubles Indonesia’s crypto market is going through a rough patch. Bitcoin’s price shot up in 2023, but the government’s tax revenue from crypto crashed by over 60%. This has raised questions about the current tax system. Dual Taxation Indonesia has a double-tax system for crypto transactions, which means you get taxed twice. This has…
Industry Groups Challenge Emergency Survey The US Department of Energy (DOE) has dropped its emergency survey of Bitcoin mining’s energy usage after a lawsuit from industry groups. Riot Platforms and the Texas Blockchain Council argued that the survey violated the Paperwork Reduction Act by bypassing public comment and data collection procedures. Energy Consumption Concerns Bitcoin…
Exchange Exodus Data from IntoTheBlock shows that $906 million worth of Ethereum left crypto exchanges last week. This exodus indicates that traders are holding onto their ETH, anticipating higher prices. Ethereum Demand Surges Exchange data reveals that investors have been accumulating Ethereum since the beginning of the year. The recent outflows suggest that demand for…
The United States government is set to spend a staggering $870 billion this year on interest payments for its national debt. This is the first time since 1940 that interest spending will exceed the budget for national defense, which stands at $822 billion. Interest as the Second-Largest Expense The Committee for a Responsible Federal Budget…
Victim’s Struggle Victoria Karwowski, a Chicago resident, was robbed at gunpoint by thieves who demanded access to her Chase account. Under duress, she was forced to hand over her banking app password, resulting in $1,700 being stolen via Zelle. Chase’s Denial Despite receiving a police report and video evidence, Chase initially refused to reimburse Karwowski,…
Ethereum’s layer-2 projects are booming, according to analytics firm IntoTheBlock. Since the start of 2024, transaction volumes on Ethereum L2s have soared by 91%. Crypto Assets Leaving Centralized Exchanges Both Ethereum (ETH) and Bitcoin (BTC) continue to flow out of centralized exchanges. IntoTheBlock reports that $906 million worth of ETH left exchanges last week, marking…
An under-the-radar altcoin, Axelar (AXL), has surged to new heights after its surprise listing on Binance, the world’s largest cryptocurrency exchange. Interoperability Platform AXL is an interoperability platform that allows different blockchains to communicate with each other. It aims to simplify cross-chain transactions and make it easier for developers to build applications that work across…
