Bitcoin Magazine

09 января 2023 05:38

💰 Stagnant BTC reached 15 million BTC, unmoved in 6 months

Glassnode data analyzed by CryptoSlate revealed that the total amount of Bitcoin (BTC) that was last active six months ago reached just below 15 million.The chart below represents the total BTC supply that has stagnated for at least six months with the blue area.

The total supply retreated to around 12 million in 2021 and recorded a 25% increase to 15 million. The total volume of stagnant coins typically grows during bear markets because speculators and investors chasing massive returns on their short-term investments leave the market. However, patient long-term investors remain in the crypto sphere and take advantage of the affordable prices to accumulate funds.

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Bitcoin Magazine

07 января 2023 10:16

🥇 Bitcoin Sees 2.5-Year-Low Volatility With Rebounding Trading Volume

The risk-off sentiment has passed on to the first week of 2023, with concerns over hawkish Fed and elevated inflation clouding the outlook of risky assets. Meanwhile, the broader cryptocurrency market has been in its own league, with BTCUSDT and ETHUSDT pairs.

Before diving into futures, it is notable that spot trading volume has seemingly bottomed out this week and seems to be gradually recovering, showing an early sign of sentiment improvements. Despite unfolding crypto insolvencies from industry heavyweights such as Genesis, Bitcoin has experienced extraordinarily low volatility, clinging to $16k for over two months.

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Bitcoin Magazine

05 января 2023 03:18

💰 Bitcoin Miner Riot Rebrands With Business Strategy Expansion

The company’s growth goal to continue growing its increasingly diversified business operations is supported by the rebranding, which signifies a rejuvenation. It is still committed to finding ways to improve the company’s expansion plans across all of its expanding, vertically integrated business lines.

The company’s rebranding strategy, which entails further diversifying its commercial operations, and it reflects a commitment to becoming the premier Bitcoin-driven infrastructure platform in the world. Riot is still committed to finding ways to improve the company’s expansion plans across all of its expanding, vertically integrated business lines. While Riot’s electrical equipment manufacturing business will continue to run under the ESS Metron.

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Bitcoin Magazine

03 января 2023 06:17

📣 Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022

According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier.

Cryptocurrency trade volumes worldwide have significantly declined since the beginning of the year. For example, on Jan. 2, 2022, one year ago, the global trade volume for the 24-hour period was approximately $70.48 billion, according to archived coingecko.com statistics. Today’s 24-hour volume worldwide is 67.43% less at $22.95 billion. In addition, 71.63% of all trades on Jan. 1, 2023, were paired with the cryptocurrency economy’s stablecoins.

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Bitcoin Magazine

01 января 2023 02:42

💰 Valkyrie Ready To Fund Grayscale Bitcoin Trust In Crisis

Valkyrie Investments said it has a proposal for Digital Currency Group’s struggling Grayscale Bitcoin Trust and is ready to become a sponsor and manager of the fund. namely enabling investors to redeem GBTC at net asset value through a Regulation M filing.

It debuted publicly traded Bitcoin-related ETFs by the end of 2021 and has a solid track record of collaborating with and valuing its partners and investors. The company added that it established Valkyrie Opportunistic Fund, LP, to benefit from the enormous discount in the difference between GBTC’s NAV (net asset value) and pricing. The company outlined important changes it would make to the management of GBTC.

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Bitcoin Magazine

30 декабря 2022 13:04

🪙 MicroStrategy to offer Bitcoin Lightning solutions in 2023

MicroStrategy executive chairman Michael Saylor has shared his firm’s plans to release Bitcoin Lightning Network-powered software and solutions in 2023.The Lightning Network is a layer-2 payment protocol layered on top of Bitcoin’s blockchain that allows for off-chain transactions.

The company also wants to make it possible for any enterprise to “spin up” Lightning infrastructure in an “afternoon,” he said. The MicroStrategy chairman again made mention of his “Lightning wall” cybersecurity idea, essentially a Bitcoin-based paywall that would protect websites from cybersecurity attacks by requiring visitors to put down a deposit in Satoshi. He noted this is something that credit cards could not offer due to the time delays involved in getting funds back.

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Bitcoin Magazine

28 декабря 2022 14:15

🇮🇳 Indian Crypto Market Suffers Significantly — Experts Say Trading Volumes Unlikely to Recover Anytime Soon

Crypto trading volumes in India have plunged significantly this year. The FTX meltdown has exacerbated the problem, hurting “the sentiment across crypto tokens.” Local crypto experts are not expecting a recovery in the near future “Unless something dramatic happens” in the upcoming Union Budget.

Cryptocurrency trading volumes at major exchanges in India have plunged significantly this year. Since the collapse of crypto exchange FTX, major exchanges in India lost between 34% and 50% of trading volumes, Moneycontrol reported Monday, citing data from research firm Crebaco. However, the decline began long before the FTX implosion. One of the largest crypto trading platforms in India, Wazirx, lost 97.99% of its trading volumes from the beginning of the year to Dec. 22.

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Bitcoin Magazine

26 декабря 2022 19:00

💰 Public Bitcoin mining companies plagued with $4B of collective debt

The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market. The Bitcoin mining community took up massive loans during the 2021 bull market.

Core Scientific, the biggest debtor among the lot — with $1.3 billion in liabilities on its balance sheet as of Sept. 30 — recently filed for Chapter 11 bankruptcy protection in Texas due to falling revenue and BTC prices. Marathon, the second-biggest debtor, has $851 million in primarily convertible note liabilities. As a result, Marathon prevents bankruptcy by allowing the debt holders to convert the convertible notes to stocks. the debt-to-equity ratio of public Bitcoin mining companies reveals high risk.

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Bitcoin Magazine

24 декабря 2022 15:22

💰 Bitcoin Protocol Development Steadily Progressing Despite Only 40-60 Monthly Active Developers: NYDIG

In a world where giants of the conventional financial system including Visa, Mastercard and PayPal employ tens of thousands of employees, Bitcoin continues to be run by a tight ship of just a few dozen active developers.

New York Digital Investment Group (NYDIG), a Bitcoin-focused investment firm, published a report in September chronicling Bitcoin’s 14-year evolution from a software development perspective. The report, titled “Developers of Bitcoin,” found that there are only 40 to 60 active developers. to worldwide domination, and examines the software developers who made it all happen.

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Bitcoin Magazine

22 декабря 2022 04:27

🪙 Russia’s Ukraine invasion led to Bitcoin’s highest sell-off in the past 2 years

The last two years have been very eventful for the crypto space. The industry witnessed astronomic crypto adoption, and Bitcoin (BTC) traded at an all-time high of over $69,000.

Using Glassnode’s Revived Supply data, CryptoSlate can measure the events that have led to significant sell-offs for the flagship digital asset among long-term holders. Revived Supply is the total amount of coins that returned into circulation after being untouched for at least one year. it is the total transfer volume of coins that were previously dormant for over a year.

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Bitcoin Magazine

20 декабря 2022 04:37

🇮🇳 Low TDS Collection on Crypto May Spur Indian Government to Reduce Transaction Tax

A junior finance minister told the Indian parliament on Tuesday that the government has collected about $7.4 million in TDS on crypto transfers since July 1. the tax to a reasonable level – in the range of 0.01% to 0.05%.

Indian Parliament, Minister of State for Finance Pankaj Chaudhary informed that the Indian government collected Rs 60.46 crore (Approx. $7.4 million) as TDS on crypto transactions since July 1, 2022, media reports said. He also informed that the Central Board of Direct Taxes (CBDT) conducts an awareness program for taxpayers and deductors.

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Bitcoin Magazine

18 декабря 2022 03:37

📣 New York regulator orders banks to apply for permission before engaging with crypto

The New York Department of Financial Services (NYDFS) has extended its grip on the attempt to control the crypto sector by unveiling new guidelines targeting the involvement of banks in digital currencies. The guidelines also affect third-party agents affiliated with the banks alongside branches.

In particular, the NYDFS has released a new guideline requiring banks operating in the state to apply for advance permission before they engage in cryptocurrency-related initiatives, the agency said in a December 15 publication. Banks applying for permission are required to share information related to their business plan, risk management, corporate governance and oversight, consumer protection, financials, and legal and regulatory analysis.

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Bitcoin Magazine

16 декабря 2022 04:46

🇬🇧 Next UK financial regulator calls for tougher crypto rules: FT

Ashley Alder, the UK’s next Financial Conduct Authority chair, had harsh words for crypto platforms as he addressed members of parliament, the Financial Times first reported. at scale, according to the newspaper.

The criticism from Alder comes as anti-money laundering tests held by the FCA ruled out 85% of firms that applied, according to FCA chief executive Nikhil Rath, who spoke earlier this year at a banking summit. Expected UK Treasury regulations are set to introduce consumer protections, impose limitations on foreign sellers, restrict product advertising and offer provisions when companies fail.

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Bitcoin Magazine

14 декабря 2022 05:59

🪙 Bitcoin trading platform Paxful CEO tells customers to get their crypto off its platform

The CEO of the peer-to-peer bitcoin trading platform Paxful Ray Youssef told customers to get their bitcoin off the platform and move it into self-custody. FTX as reasons for urging Paxful's 11 million customers to self-custody.

Last month, cryptocurrency exchange volumes jumped compared to October as the collapse of FTX roiled markets, with decentralized platforms seeing an increase of 93% as doubled to $65 billion from $34 billion. Centralized exchange volumes rose by 24% to $673 billion, up from $543 billion in October, according to The Block data.

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Bitcoin Magazine

12 декабря 2022 04:05

🇪🇺 European Union Limits Cash Purchases and Increases Scrutiny on Crypto Transactions

The European Union has decided to limit cash purchases to €10,000 and ensure more scrutiny on crypto transactions above €1,000. Members of the bloc announced this on December 7, stating that it was part of efforts to prevent money laundering.

Czech minister for Finance Zbyněk Stanjura said their “intention is to close these loopholes further and to apply even stricter rules in all EU member states. Large cash payments beyond €10.000 will become impossible. Trying to stay anonymous when buying or selling crypto-assets will become much more difficult.”. risk of money laundering in each member country.

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Bitcoin Magazine

08 января 2023 04:42

🥇 Bitcoin Whale That Dormant For Almost 4 Years Suddenly Moves $250 Million

An old Bitcoin wallet that had been inactive for over four years abruptly transferred approximately $250 million to another unknown Bitcoin address. The address that received the payments currently has about $500 million in BTC.

The dormant whale’s wallet was worth more than $1 billion at the peak of Bitcoin’s value. As market circumstances worsened, the whale’s portfolio lost a significant portion of its value. At the time of the transaction, only $250 million remained in what had previously been a $1 billion wallet. The whale acquired the original 15,000 BTC in 2019 and has only now moved it to another wallet. Unfortunately.

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Bitcoin Magazine

06 января 2023 04:09

💰 LastPass Led To A Loss Of Bitcoin Valued At $53,000

Following a data breach in August 2022, it has brought a class action lawsuit against the password management service LastPass. A plaintiff known as “John Doe” filed the class action on January 3 with the U.S. District Court of Massachusetts on behalf of all parties who were in a comparable situation.

The complainant erased his personal information from his customer vault as soon as he learned that the data breach broke. According to a statement from the firm in December, LastPass was breached in August 2022, and the attacker stole encrypted passwords and other data. In accordance with the LastPass “best practices,” the plaintiff said he started amassing BTC in July 2022 and modified his master password to include more than 12 characters using a password generator.

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Bitcoin Magazine

04 января 2023 06:30

🪙 Number Of Bitcoin Addresses Holding Over 1,000 Coins Reached A 3-year Low

The number of Bitcoin addresses holding more than 1,000 Coinsjust reached a 3-year low of 2,031. Bitcoin addresses with more than 1000 coins are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold.

On January 2, Glassnode data shows that the number of addresses holding more than 1,000 Bitcoins is 2,031, a three-year low.Bitcoin addresses with more than 1000 coins, in other words, these are the wallet addresses of sharks or whales, who hold the majority of the current Bitcoin supply and have a certain influence on the number of coins they hold. The number of Bitcoin supply last activities 2-3 years (1d MA) has also risen to a one-year high.

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Bitcoin Magazine

02 января 2023 03:42

🪙 Bitcoin Would Not Be Able To Recover In 2023, Says Lightspark CEO

Lightspark’s creator and CEO, David Marcus, disappointed bulls with his vision for the future years of Bitcoin and other cryptocurrencies. Although FTX’s fall occurred about two months ago, its effects on mood and price performance are still being felt today.

Bitcoin [BTC] and other cryptocurrencies would not be able to recover from the effects of “unscrupulous players'” conduct. On December 30, he posted a tweet with his ideas. Marcus anticipated their spectre would continue to stalk the cryptocurrency sector until 2023. Only once did he name FTX, but even after that, he warned that “unscrupulous players” would continue to cause market underperformance well into the following year.

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Bitcoin Magazine

31 декабря 2022 03:59

💰 Over 53% Of The Total Hashrate Of Bitcoin Is Controlled By Mining Pools

Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week to above the 300 exahash range after several bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022.

Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022, indicate that two mining pools command more than 50% of the global hashrate. On the evening of December 28, 2022, the Bitcoin (BTC) network’s computational processing power increased to a range of 300 EH/s. On December 28, 2022, three days before the surge, Texas-based bitcoin miners reduced their hashrate to a low of 170 EH/s.

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Bitcoin Magazine

29 декабря 2022 04:22

🥇 ProtonMail Founder Doubts Whether His Firm Continues To Hold Bitcoin

Andy Yen, the CEO, and co-founder of ProtonMail stated in a Dec. 27 Forbes interview that he is doubtful whether his firm would keep holding Bitcoin.Yen’s skepticism toward holding Bitcoin does not imply that the company will stop accepting Bitcoin transactions.

ProtonMail, which also provides a number of other services, holds Bitcoin and has done so for at least five years. After a long period of sporadic integration, Proton formally started taking Bitcoin payments in 2017. The business acknowledged in 2019 that it had been keeping Bitcoin that had been sent to them by clients. Proton has always kept some of its reserves in Bitcoin, but added that this is not a guarantee.

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Bitcoin Magazine

27 декабря 2022 02:40

💰 Justin Sun Defended Bitcoin, Promises To Help China’s Nio Electric Car Company Find Hackers

China with the goal of extorting $2.25 million in Bitcoin from Chinese electric car company Nio has drawn criticism for Bitcoin for making it easier to commit crimes. However, facing that criticism, Justin Sun defended Bitcoin and offered to help the company find hackers.

On December 20th, Chinese electric vehicle manufacturer Nio announced that some data regarding users and their vehicle sales in China before August 2021 has been leaked and is being illegally sold by third parties on the internet. Nio said in its statement that it deeply regrets the incident. The company also said it has set up a dedicated hotline and an email address to respond to the data leak.

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Bitcoin Magazine

25 декабря 2022 02:05

🇷🇺 Russian Parliament Postpones Adoption of Crypto Mining Bill

Russian lawmakers will consider a draft law on cryptocurrency mining in 2023 despite earlier indications they were going to vote on the proposal in December. The bill is expected to set the rules for the extraction and sale of cryptocurrency in Russia amid sanctions limiting.

Members of the State Duma will review and vote on the draft law designed to legalize cryptocurrency mining in the Russian Federation in 2023, the head of the Financial Market Committee Anatoly Aksakov announced in comments for the crypto section of the business news portal RBC. positions of the various regulators involved in the process.

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Bitcoin Magazine

23 декабря 2022 17:22

👉 Twitter adds BTC and ETH price indexes to search function

Social media platform Twitter has added a new crypto feature that enables users to search the price of Bitcoin (BTC) and Ether (ETH) simply by typing their names or tickers into the search tab.

The account noted that whenever one tweets the symbol of a major stock, exchange-traded fund or cryptocurrency with $ in front of it, people will be able to see a clickable link that takes them to search results that now will include the pricing graphs for those symbols. The new feature is an improvement of "$Cashtags" and was announced by the Twitter Business account on Dec. 21.

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Bitcoin Magazine

21 декабря 2022 02:56

🏦 Bitfinex closes week leading Bitcoin reserves according to Glassnode

The detailed proof-of-reserves of leading crypto exchanges outside of Coinbase and Binance. It revealed that Bitfinex holds the most significant Bitcoin (BTC) reserves, with $3.5 billion worth of BTC.

The data was obtained on Dec. 16 from OKX, KuCoin, Crypto.com, ByBit, Binance, BitMEX, and Bitfinex. OKX follows Bitfinex with the second largest BTC pool with more than $1.5 billion in BTC, while Binance comes as the third with just above $5 billion in BTC. BitMEX places fourth, with just over $1 billion in BTC. Crypto.com, ByBit, and KuCoin came as the fifth.

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Bitcoin Magazine

19 декабря 2022 02:23

📣 UNHCR Launches Blockchain Payment Solution to Support Ukrainians Displaced by War

The United Nations High Commissioner for Refugees (UNHCR) recently said it has launched a blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) in Ukraine. According to the agency, the use of the blockchain-based cash.

The United Nations High Commissioner for Refugees (UNHCR) and the Stellar Development Foundation (SDF), an organization supporting the growth of the Stellar blockchain, announced on Dec. 15 the launch of a “blockchain payment solution for digital cash distribution to internally displaced persons (IDPs) and other war-affected people in Ukraine.”

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Bitcoin Magazine

17 декабря 2022 03:53

🚨 Audits firms Armanino, Mazars ditch crypto clients in wake of pushback

Auditors Armanino and Mazars count several high-profile crypto companies among their collective clients, including Nexo, Gate, FTX, Kraken, Binance, and Crypto.com.

However, the efficacy of crypto audits has been called into question recently, primarily due to the collapse of FTX. FTX filed for Chapter 11 bankruptcy on Nov. 11 amid a flurry of controversy, including allegations of fraud and misuse of customers’ funds. In a bankruptcy filing last month, newly appointed CEO John Ray commented that he had substantial concerns.

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Bitcoin Magazine

15 декабря 2022 04:42

📉 Crypto stocks plunge to record lows, GBTC at 50% discount despite Bitcoin uptick

Grayscale’s Bitcoin Trust (GBTC) traded at a record discount rate of 50% on Dec. 13 following the US SEC’s defense of its refusal to approve the conversion of the trust into an exchange-traded fund (ETF)

According to Google Finance data, its shares price is up 3.70% in the last 24 hours to $8.40 as of press time. It is down 6.25% in the previous 30 days and 41.5% in 6 months. On the year-to-date metric, its value has decreased by 75%. Speculations around the financial health of its parent company, Digital Currency Group, have grown following recent events in the crypto space.

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Bitcoin Magazine

13 декабря 2022 03:10

🥇 GBTC Discount Nears 50%, Crypto Investors Worry About Another Sell-Off

The Grayscale Bitcoin Trust (GBTC) is selling at a 48.62% discount, worrying investors and analysts. They believe a sell-off could be imminent as DCG also faces financial issues. Analysts and investors believe that this could trigger a selloff.

The crypto community is seeing its anxiety stoked as Grayscale’s GBTC is nearly at a 50% discount. As of Dec. 9, its GBTC discount or premium to NAV is at 48.62%. The GBTC shares are trading at $8.03. One of the primary reasons for its concern is the fact that sister company Genesis halted withdrawals following the collapse of FTX.
GBTC Discount Nears 50%, Crypto Investors Worry About Another Sell-Off

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Bitcoin Magazine

11 декабря 2022 07:55

🇪🇺 The European Parliament’s crypto ally arrested following corruption allegations

The crypto industry may lose a key policymaker in the European Parliament as Eva Kaili has been detained as part of a corruption investigation involving Qatar. was arrested by Belgian police in connection with a suspected corruption scheme involving Qatar, AFP reported.

The Greek policymaker has been suspended from the Socialists and Democrats parliamentary group as well as the Greek national party PASOK until further notice. Kaili was among four suspects arrested. Kaili was expected to lead the European Parliament’s report on NFTs and contributed to the DLT Pilot Regime project.

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