Browsing:ETH

Ether and Ethereum-based tokens saw a significant increase in value
1 month ago 1 min read

Ethereum Rallies on Ether ETF Anticipation Amid Bitcoin ETF Expectations

In a dramatic shift in the crypto market, Ether and Ethereum-based tokens saw a significant increase in value, fueled by traders’ anticipation of a potential Ether ETF following the expected approval of a Bitcoin ETF in the US. While the price of Ether surpassed $2,400, Bitcoin suffered a temporary setback as a result of deceptive tweets from the hacked SEC’s X account. A prominent financial institution, BlackRock, has filed an application with the SEC for an Ether ETF, indicating a growing interest in Ethereum-based investments. The crypto community is preparing for the possibility of this new investment avenue, which will

Traders Suffer $190M in 48 Hours Amid Fake SEC Tweet and Market Volatility
1 month ago 1 min read

Bitcoin Traders Lose Over $180 Million in 48 Hours Amid Price Fluctuations and Fake SEC Tweet

While the crypto community awaits the decision on a Bitcoin Spot ETF, Bitcoin traders are caught in a whirlwind of uncertainty, resulting in losses exceeding $180 million in a matter of 48 hours. This wild ride is characterized by rapid price fluctuations and the impact of a deceptive tweet, shedding light on the market’s susceptibility to manipulation. On December 9th, a phony tweet from the SEC’s X account announced the approval of a Bitcoin ETF. This misinformation set off a chain reaction that caused Bitcoin prices to wildly fluctuate, resulting in around $90 million in trading losses. This incident highlights

Bitcoin's Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval
1 month ago 1 min read

Bitcoin’s Price Surge Leads to $100M Loss for Short Traders Amid Anticipation of U.S. ETF Approval

Bitcoin’s recent price surge, which saw it surpass $47,000 for the first time since March 2022, resulted in significant losses exceeding $100 million for traders who had taken short positions, betting against the crypto’s rise. This loss comes as the market waits for the approval of a Bitcoin Exchange-Traded Fund (ETF) in the United States. Users on exchanges such as OKX and Binance suffered significant losses. Bitcoin’s price increase coincides with significant developments in the ETF space, such as BlackRock’s filing fees with the US SEC. Filing fees are usually one of the last steps before an ETF can be

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF).
1 month ago 1 min read

Over $550 billion could flow into crypto market, says analyst

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF). Melker projected $550 billion in Bitcoin ETF investment in a social media post on X (formerly Twitter), representing only 0.5% of total assets managed by Registered Investment Advisors (RIAs). Melker stated that RIAs currently manage assets worth $114 trillion, and Bitcoin’s total market capitalization is $860 billion. According to the post, if even half of RIA-managed assets were to flow into a Bitcoin ETF, the total amount could be around $570 billion. Some cryptocurrency analysts, including Bloomberg Intelligence’s

Over $150 Million Poured Into Crypto Funds In 2024
1 month ago 1 min read

Over $150 Million Poured Into Crypto Funds In 2024

According to a recent CoinShares report, the first week of 2024 witnessed a significant milestone in crypto investments, with a notable influx of $151 million into investment products in this sector. The significance of this over $150 million increase in inflows was highlighted by James Butterfill, Head of Research at CoinShares, especially in light of Grayscale’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Since the case’s inception in October 2022, these inflows have totaled $2.3 billion, accounting for 4.4% of the firm’s total managed assets. Despite the lack of a spot exchange-traded fund (ETF) launch in

Solana Co-Founder Weighs in on Ethereum's Risks, Emphasizes Simplicity in Blockchain Language
1 month ago 1 min read

Solana Co-Founder Talks About Ethereum’s Risks, Emphasizes Simplicity in Blockchain Language

Anatoly Yakovenko, co-founder of Solana, recently discussed Ethereum’s challenges and shed light on Solana’s design principles. Here is a breakdown of Yakovenko’s key insights. Yakovenko expressed concern about Ethereum’s potential centralization issues. He emphasized the danger of specific parts of the network becoming overly dominant, posing a challenge to Ethereum’s decentralized goals. Yakovenko, on the other hand, emphasized an important aspect of Solana’s architecture: atomic composability. This feature allows for seamless collaboration among blockchain elements. While Yakovenko sees this as a strength, he admits that its value is dependent on recognition within the larger blockchain community. He claims that Solana’s

Any US resident making crypto transactions exceeding $10K will soon have to report them to IRS
2 months ago 1 min read

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment and Jobs Act, effective January 1, 2024, mandates that anyone receiving over $10,000 in crypto transactions must report the details to the IRS within 15 days. This includes providing personal

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday
2 months ago 2 mins read

Over $1 Billion worth of crypto liquidated as Bitcoin drops below $41,500 yesterday

The crypto market is experiencing increased uncertainty as the US Securities and Exchange Commission (SEC) nears a decision on spot Bitcoin Exchange-Traded Funds (ETFs). While initial expectations were positive, recent expert analyses have added a note of caution. As the market speculated on the possible outcomes, Bitcoin’s value dropped 6.5% in minutes, falling from $44,400 to $41,500. This drop saw over $1 billion worth of crypto liquidated from the market. Bloomberg’s ETF expert, Eric Balchunas, tempered the general optimism by estimating that the ETFs have a 10% chance of being approved by the January 10 deadline. His assessment is based

Radiant Capital Faces $4.5 Million Exploit in Ethereum Theft
2 months ago 1 min read

Radiant Capital Loses $4.5 Million Worth of Ethereum to Hackers

Radiant Capital, a well-known cross-chain lending system, was recently the victim of a major security breach that resulted in the theft of 1,900 Ethereum (ETH) worth $4.5 million. PeckShield, a blockchain security and analytics firm, was the first to report the incident. The attack took advantage of a flaw in the lending platform that emerged following the activation of a new market. It’s worth noting that the platform under consideration is a fork of two well-known systems, Compound and Aave. The hacker took advantage of a well-known rounding flaw in the current Compound/Aave codebase. Surprisingly, the exploit was carried out

Investors Eye Key US Economic Reports as Crypto Market Surges
2 months ago 1 min read

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for release on Wednesday. This report is an important indicator for investors because it provides a snapshot of the overall health of the US manufacturing sector. Furthermore, the minutes of the

Thunder Terminal Faces Hack, Safeguards User Funds
2 months ago 1 min read

Thunder Terminal was the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL

Thunder Terminal, an on-chain trading platform, was recently the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL. Despite the breach, Thunder Terminal responded quickly, assuring users that all funds are secure and taking immediate steps to mitigate the impact. The hackers took advantage of a vulnerability by gaining access via a MongoDB URL, allowing them to execute fraudulent withdrawal requests and steal large sums of digital assets. The unauthorized activity began at 12:11:47 AM UTC but was effectively stopped by 12:20:35 AM UTC, demonstrating Thunder Terminal’s quick response to the security breach. Thunder

Ethereum Wallet Linked to Trump's NFTs Reportedly Moves $2.4M Worth Of ETH
2 months ago 1 min read

Ethereum Wallet Linked to Trump’s NFTs Reportedly Moves $2.4M Worth Of ETH

An Ethereum wallet allegedly linked to former President Donald Trump has recently come under scrutiny for transferring millions of dollars in crypto, which is thought to be proceeds from the sale of non-fungible tokens (NFTs). These findings were highlighted in a December 27 report by Arkham Intelligence, which raised concerns about the financial activities associated with Trump-themed NFTs. Over the last three weeks, the Ethereum wallet in question transferred 1,075 ETH (around $2.4 million) to the cryptocurrency exchange Coinbase. The wallet’s current value, according to Arkham Intelligence, is $2.22 million, which includes $1.39 million in Ethereum assets and $644,000 in