Archiv des Autors: Torte

Bitcoin (BTC) Hash Ribbon Indicator Suggests Capitulation Has Ended

• The Bitcoin (BTC) Hash Ribbon indicator signals that the worst of miner capitulation may be over.
• A switch from negative to positive price momentum is expected when the 30-day moving average (MA) crosses the 60-day MA.
• Bitcoin (BTC) holders had a tough year in 2022, with mining stocks falling over 80%, and mining company bankruptcies solidifying the bear market.

The past year has been a tough one for Bitcoin (BTC) holders, with the cryptocurrency’s price down 75% from its all-time high (ATH). Mining stocks fell over 80%, and mining company bankruptcies solidified the bear market. However, the worst of miner capitulation might be over, according to CryptoSlate analysis.

The Bitcoin (BTC) Hash Ribbon indicator signals that the worst of miner capitulation may be over. This indicator chart indicates that when the 30-day moving average (MA) crosses the 60-day MA — switching from light-red to dark-red areas — the worst of miner capitulation is over. When this paradigm shift occurs, a switch from negative to positive price momentum is expected, which historically reveals good buying opportunities (switching from dark-red back to white).

The total supply of BTC currently held in miner wallets has hit roughly 1.8 million BTC, signifying that miner capitulation is decreasing. This is a good sign for the future of the cryptocurrency, as it means that miners aren’t selling their coins at a rapid pace.

The Hash Ribbon indicator is suggestive that the worst of miner capitulation is almost over as BTC turns bullish and breaks out towards $19,000, according to Glassnode data in the chart above analyzed by CryptoSlate. As the indicator chart suggests, this could be a good time to buy BTC as the market bottom may have already passed.

In conclusion, the data is suggestive that the worst of miner capitulation is almost over. With the Hash Ribbon indicator signaling a switch from negative to positive price momentum, and the total supply of BTC held by miners decreasing, this could be a good time to invest in Bitcoin (BTC).

Meld Denies Accusations of Insider Trading Following On-Chain Analysis

• Meld, a „DeFi, non-custodial, banking protocol“ has denied accusations of insider trading stemming from on-chain analysis from TapTools.
• TapTools had identified a series of large token sales worth 1.24 million ADA, or about $405,000 at today’s price, and two associated addresses that had sold but never bought MELD tokens.
• Meld clarified that the address belongs to a private sale token holder, and that no staff were involved or had benefited from the token sales.

Meld, a decentralized finance, non-custodial banking protocol, has denied accusations of insider trading. The accusations were brought up after on-chain analysis conducted by TapTools, a blockchain analytics tool, revealed a series of large token sales.

TapTools had identified an address responsible for selling tokens worth 1.24 million ADA, or about $405,000 at today’s price. It was also noted that since September 2022, the address has been credited monthly with between three and seven million MELD tokens. Furthermore, two associated addresses were discovered to have sold but never bought MELD tokens; these token sales totaled just over one million ADA, or approximately $340,000 at today’s price.

TapTools asked, „where did the tokens come from?“, while speculating that the address was controlled by an insider. In response, Meld released a statement clarifying that the address in question belonged to a private sale token holder, and that they had no control over the actions of token holders. Additionally, Meld denied the suggestions that staff members were involved in or had benefited from the token sales.

Meld went on to emphasize its commitment to transparency, stating that all of its token sales were conducted in accordance with the Cardano protocol. The protocol requires all token sales to be conducted with full transparency, and Meld has complied with this. Furthermore, Meld reiterated its commitment to ensuring the highest standards of fairness and compliance are maintained in all of its activities.

The news of the accusations of insider trading, and the ensuing response from Meld, has caused a stir in the Cardano community. Many have expressed their concern about the alleged activities, and have called for greater transparency from the protocol. It is yet to be seen how the community will respond to the statement from Meld, and whether or not it will be accepted.

Beware of Address Poisoning: New Crypto Scam Exploits Carelessness

• MetaMask recently warned of a new type of scam called “address poisoning.”
• The scam works by exploiting users’ carelessness and haste when copying and pasting wallet addresses.
• Scammers use “vanity” address generators to create addresses that look similar to the intended address, causing users to unknowingly send funds to the wrong address.

MetaMask recently released a warning to the crypto community of a new type of scam called “address poisoning.” This scam is rated as “rather innocuous compared to other scam types” but still has the potential to dupe unsuspecting users into losing funds.

Address poisoning centers on wallet addresses being long hexadecimal numbers that are difficult to remember and easy to mistake for other, similar addresses. Crypto addresses are often shortened to show the first few characters, a blank, and then the last few. Scammers exploit the tendency to trust the familiarity of the first and last few characters.

When transacting, the usual routine consists of copying and pasting an address. Most wallet providers, including MetaMask, feature a one-click function to copy an address. Address poisoning exploits users’ inattention at this point in the transaction process. Specifically, scammers observe and track transactions of particular tokens, with stablecoins commonly targeted. Then, using a “vanity” address generator, the scammer will create an address that looks similar to the intended address.

Since the address is similar, users can easily assume that the address is correct and mistakenly send funds to the wrong address. This is why it is essential to double-check and triple-check wallet addresses before sending funds. MetaMask also recommends users verify wallet addresses with the recipient to ensure they are sending funds to the correct address.

To protect against address poisoning, MetaMask recommends users pay extra attention when copying and pasting wallet addresses. Users should also enable address verification to confirm the address is correct before sending funds. And finally, users should always double-check the first and last few characters of the address to make sure they match.

In conclusion, address poisoning is a scam that relies on users’ inattention and haste when transacting. To protect their funds, users should take extra care to verify wallet addresses with the recipient before sending funds.

FTX Recovery: Bullish Sentiment for Return of Funds to Customers

• Sam Bankman-Fried confirmed that there is still potential for FTX to recover and return funds to customers.
• Selling FTX as a functioning business is the best recovery scenario for customers.
• The bullish sentiment toward an FTX recovery appears to be playing out in the price of the FTX token, FTT, which is up 45% over the past 48 hours.

Sam Bankman-Fried, the founder of FTX, recently confirmed that he still believes there is a future for FTX in a tweet. In his tweet, he agreed with Twitter user WassieLawyer who said that a sale of the FTX exchange as a going concern is viable and they were “bullish on recovery” in relation to FTX. Bankman-Fried said that this is and always has been the best recovery scenario for customers. He also referenced the ongoing argument that FTX.US should be able to return funds to customers as it was allegedly solvent at the time of the Chapter 11 filing.

FTX.US was absorbed into the bankruptcy proceedings of the FTX group despite Sam Bankman-Fried’s claims that the platform was solvent and should not have been included in the insolvency proceedings. The recovery potential of FTX appears to be playing out in the price of the FTX token, FTT, which has nearly doubled, while Bitcoin is up roughly 11% in 2023. Attorneys working on the FTX bankruptcy recently confirmed that $5 billion had been recovered.

However, the only entities that can receive payments from FTX are those involved in the bankruptcy proceedings. This means that customers of FTX are still unable to recoup their funds, but the positive sentiment surrounding the potential for recovery is a good sign for the future. The possibility of a full recovery for FTX customers is something that Bankman-Fried and the FTX team are hoping for, and it is something that investors are optimistic about as well.

If the FTX team is successful in selling the exchange as a going concern and returning funds to customers, it could be a huge win for the crypto community. This would show that even in the face of bankruptcy, a company can still make a comeback and prove that crypto assets are a viable investment option. It would also prove that the crypto industry is resilient and can bounce back from adversity.

Only time will tell if FTX is able to recover and return funds to customers, but the bullish sentiment and potential for recovery is something that investors should keep an eye on.

$120M Bitcoin Withdrawn From Exchanges: Crypto Investors Favor Self-Custody

• Roughly $120 million worth of Bitcoin (BTC) was withdrawn from crypto exchanges on Jan. 10.
• Binance saw $50 million of the withdrawals, while Coinbase saw $30 million.
• Crypto investors have favored self-custody, as Bitcoin balances on exchanges declined and illiquid supply in cold or hot storage wallets passed 15 million coins.

On January 10th, a significant amount of Bitcoin (BTC) was withdrawn from crypto exchanges across the world. According to Glassnode’s data, the total withdrawal was estimated to be around $120 million. Of this amount, Binance saw $50 million of the withdrawals, while Coinbase saw $30 million.

These numbers are significant in the context of the decline of Bitcoin balances on exchanges over the past few months. This decline was first seen when FTX, a crypto derivatives exchange, collapsed late last year. As a result, Binance saw over $600 million BTC withdrawn from its reserve in a single day, while Coinbase saw BTC withdrawals of roughly $3.5 billion in November.

These withdrawals are indicative of the increasing trend of crypto investors favoring self-custody over exchange custody. This is because self-custody is considered to be safer than storing funds on exchanges. Thus, as a result of these withdrawals, Bitcoin’s illiquid supply in cold or hot storage wallets has also passed 15 million coins.

However, self-custody is not without its risks. Recently, a Bitcoin core developer lost more than 216 BTC to a compromise while attempting to self-custody his funds. This incident serves as a reminder that no matter the security measures one takes, there is always a risk associated with self-custody.

In conclusion, the withdrawal of $120 million worth of Bitcoin from crypto exchanges on January 10th serves as a reminder of the ever-growing trend of crypto investors favoring self-custody over exchange custody. Despite the risks associated with self-custody, the amount of Bitcoin stored in cold or hot storage wallets has passed 15 million coins, indicating that many investors do favor self-custody for the added security it offers.

Crypto Markets See Positive Gains: Bitcoin Up 1%, XRP Leads with 3.7% Increase

• Cryptocurrency market cap saw net inflows of $5.61 billion over the last 24 hours and currently stands at $857.72 billion.
• Bitcoin’s market cap increased by 1% to $335.83 billion while Ethereum’s market cap grew 0.4% to $163.4 billion.
• XRP leads the pack with 3.7% gains while Cardano brings up the rear, recording a 1% loss in value.

The cryptocurrency markets have seen significant activity over the last 24 hours, with the market cap increasing by 0.7%, up to $857.72 billion. This marks a net increase of $5.61 billion since yesterday. Bitcoin’s market cap has also seen a 1% increase, reaching $335.83 billion, while Ethereum’s market cap has grown 0.4%, now sitting at $163.4 billion.

The top 10 cryptocurrencies by market cap have seen a mixed performance over the last 24 hours. XRP has seen the greatest increase in value, with a 3.7% increase and is currently sitting at $0.37. Cardano, on the other hand, has seen a 1% decrease and is trading at $0.33.

Tether (USDT) and BinanceUSD (BUSD) have both seen increases in market cap, with USDT now sitting at $66.28 billion and BUSD at $16.42 billion. USD Coin (USDC) has seen a slight decrease in market cap, now sitting at $43.8 billion.

Looking at Bitcoin, the leading cryptocurrency has grown 1% over the last 24 hours, now trading at $17,438 as of 07:00 ET. Its market dominance has also seen a slight increase, now sitting at 39.2%. The peak price of Bitcoin was seen on Tuesday evening (ET), where it reached $17,510 before the ensuing drawdown found support at $17,367.

Ethereum has also seen modest growth, with a 0.4% increase in value over the last 24 hours, trading at $1,335 as of 07:00 ET. Its market dominance has remained steady at 19.1%. ETH recorded a peak price of $1,348 on Tuesday evening, before dropping back down to its current price.

Overall, the cryptocurrency markets have seen positive gains over the last 24 hours, with the market cap increasing by 0.7% and the top 10 cryptocurrencies posting mixed performance. Bitcoin has seen a 1% increase in market cap, while Ethereum has seen a 0.4% increase. XRP has seen the greatest increase in value, with 3.7%, while Cardano has seen a 1% decrease. Tether and BinanceUSD have both seen increases in market cap, while USD Coin has seen a slight decrease.

Poolin’s Mining Hashrate Share Plummets 94%, Liquidity Issues Blamed

• Poolin’s Bitcoin mining hash rate share has dropped from an all-time high of 18% to only 1%.
• The decline can be linked to the mining pool’s announcement of liquidity problems in September.
• Poolin had the largest miner outflow in two years, amounting to 10,000 Bitcoins.

China-based Bitcoin mining pool, Poolin, has recently suffered a record decline in its hash rate share, dropping from an all-time high of 18% to only 1%. This drastic decrease can be attributed to the announcement made by the mining pool last September, in which they revealed their liquidity problems. This announcement caused many miners to leave the pool, resulting in a decrease in hashing power and block rewards.

The liquidity issues experienced by Poolin were further revealed when the Bitcoin held in their wallets dropped sharply from 22,000 BTC in early November to 6000 BTC in December. This decrease accounted for a substantial portion of the overall decline in balances held by miners. The outflow of miners from Poolin also amounted to 10,000 Bitcoins, the largest miner outflow experienced in two years.

The situation was further exacerbated by the increasing mining difficulty, declining Bitcoin prices, and miners closing their businesses due to declining profitability. All of these factors led to the 94% reduction in Poolin’s hash rate share, a record low for the mining pool.

However, Poolin is attempting to turn their fortunes around by making strategic investments in new technologies and miner hardware, in order to increase their hash rate share and profitability. With their liquidity issues now under control, Poolin is taking steps to ensure their future success as a major player in the Bitcoin mining industry.

Total Supply of Bitcoin Wallets Reaches All-Time High

• Wallets that hold between 0.1 Bitcoin (BTC) and 1 Bitcoin have surpassed 1 million coins.
• The total BTC supply of the wallets that hold between 1 BTC and 10 BTC has also topped 2 million.
• As of Dec. 29, the total supply held by wallets between 0.1 BTC and 1 BTC sits at 1.01 million BTC.

The total supply of Bitcoin wallets holding between 0.1 Bitcoin (BTC) and 1 Bitcoin has recently surpassed 1 million coins, while the collective supply of wallets that hold between 1 BTC and 10 BTC has also broken its own all-time high by surpassing 2 million at the end of November. As of Dec. 29, the total supply held by wallets between 0.1 BTC and 1 BTC sits at 1.01 million BTC.

The chart below represents the total supply held by the wallets in question since 2010 with the orange line, which started to record a stable increase in late 2013 and has seen short exponential growth periods in 2016 and 2018.

The collective BTC supply of the wallets that hold between 1 BTC and 10 BTC also continues to demonstrate exponential growth since 2011, with a significant upwards spike in late 2011 and consistent increases since then. As of Dec. 30, the total supply held by these wallets is 2.06 BTC.

The data suggests that the total amount of Bitcoin held by wallets with 0.1 BTC to 1 BTC and 1 BTC to 10 BTC is steadily increasing, and is likely to continue doing so in the future. This could be due to a number of factors, including the increasing demand for Bitcoin as more users enter the cryptocurrency market, and the potential for holders of large amounts of Bitcoin to diversify their holdings.

The continued growth of the total supply of these wallets also indicates that the Bitcoin network is continuing to grow and become more secure as more users join and store their coins in wallets. This trend could point to increasing confidence in the cryptocurrency, which could lead to further adoption in the future.

Bahamas Securities Commission Seizes $3.5 Billion in Assets to Protect Creditors and Customers

-The Bahamas Securities Commission is temporarily holding $3.5 billion worth of assets owned by FTX Digital Markets Ltd.
-The Commission has taken control of the assets and is waiting for directions from the Bahamian Supreme Court on how to distribute them to FTX’s creditors and customers.
-The Commission determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of FTX.

The Bahamas Securities Commission (SCB) has taken control of the assets belonging to FTX Digital Markets Ltd, worth $3.5 billion, in an effort to protect them from dissipation. The Commission has sought directions from the Bahamian Supreme Court on how to distribute the assets to FTX’s creditors and customers.

The Commission took this drastic measure after FTX founder Sam Bankman-Fried reported a cyberattack on the firm’s system. As a result, the SCB transferred all digital assets under the control or custody of FTXDM or its principals to wallets controlled by the SCB on November 12th.

The Commission determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of FTX. As a result, the Commission took the necessary precautions to safeguard the assets in its custody.

The Commission has stated that it would only release the assets to creditors and customers that own them or the joint provisional liquidators as directed by The Bahamas Supreme Court.

The drastic move by the Commission to take control of FTX’s assets is an effort to protect them from dissipation. It is also an attempt to ensure that FTX’s creditors and customers will receive the assets to which they are entitled. The Commission is currently awaiting the Supreme Court’s directive on how to distribute the funds.

China Launches Regulated NFT Marketplace: Digital Transformation Begins

• China will launch its first regulated Non-Fungible Token (NFT) marketplace, the China Digital Asset Trading Platform, on January 1, 2023.
• The platform will enable institutions and individuals to access rights protection monitoring and copyright protection services.
• An expert on digital assets and metaverse space in China, Yu Jianing, believes the launch of the platform represents an acceleration of the digital transformation of the cultural industry in the country.

China is taking a big step forward in the digital transformation of its cultural industry with the launch of its first regulated Non-Fungible Token (NFT) marketplace, the China Digital Asset Trading Platform, on January 1, 2023. The platform is the result of a joint venture between the Chinese Technology Exchange, Art Exhibitions China, and Huban Digital Copyrights Ltd, a private corporation, and is designed to facilitate the exchange of NFTs as a secondary market.

The China Digital Asset Trading Platform will offer a range of services to institutions and individuals. These include rights protection monitoring and copyright protection services concerning digital assets. This will ensure that the NFTs traded on the platform are protected from intellectual property violations. With these services in place, the platform will become a safe and secure marketplace for the trading of digital assets.

Yu Jianing, an expert on digital assets and metaverse space in China, believes that the launch of the China Digital Assets Exchange is a major milestone in the country’s digital transformation. According to him, the platform will enable the cultural industry to take advantage of the opportunities presented by the digital revolution. He believes that the platform will open up new avenues for creativity and innovation in the industry, and will create new opportunities for creators to monetize their work.

Despite the launch of the platform, China has enacted strict laws that ban the trading of crypto-currencies, such as Bitcoin. This has had a negative effect on the crypto industry in the country, with a number of firms ceasing operations as a result of the ban. However, the launch of the China Digital Asset Trading Platform is a sign that the country is looking to embrace the digital revolution and take advantage of the opportunities it presents. This could open up new doors for digital creators and innovators in the country.