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Bitcoin price sets October high with $20K in reach as US stocks rally

Bitcoin (BTC) climbed to new October highs at the Oct. 3 Wall Street open as Credit Suisse concerns heightened. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders close in on rangebound BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD taking aim at $19,500 after starting the month flat.

The largest cryptocurrency reacted . . . → Read More: Bitcoin price sets October high with $20K in reach as US stocks rally

NYDIG raises $720M as Bitcoin balance hits all-time high

The bear market has not deterred one of the biggest Bitcoin (BTC) bulls. The balances of the New York Digital Investment Group, or NYDIG, hit record highs in Q3 of this year. Plus, a United States Securities and Exchange (SEC) filing could reveal the group’s intent to add more Bitcoin to its balance . . . → Read More: NYDIG raises $720M as Bitcoin balance hits all-time high

Ether staking is too difficult, community members claim

After the Ethereum network’s transition to proof-of-stake (PoS), staking Ether (ETH) now plays a central role in validating blocks and securing the network. However, some community members believe that the staking process is too difficult, especially for regular people. 

In the Ethereum subreddit, a member of the community raised the topic of ETH . . . → Read More: Ether staking is too difficult, community members claim

Next few weeks are ‘critical’ for stock market and Bitcoin, analyst says

The stock market’s movements in the next few weeks will be critical for determining whether we are heading towards a short-term recession or a long-term one, according to forex trader and crypto analyst Alessio Rastani.

During the October-December 2022 period, the analyst expects to see the S&P rallying. “If that bounces or rally . . . → Read More: Next few weeks are ‘critical’ for stock market and Bitcoin, analyst says

Ethereum Merge spikes block creation with a faster average block time

The Merge upgrade for Ethereum, which primarily sought to transition the blockchain into a proof-of-stake (PoS) consensus mechanism, has been revealed to have had a positive impact on the creation of new Ethereum blocks.

The Merge was considered one of the most significant upgrades for Ethereum. As a result of the hype, numerous misconceptions . . . → Read More: Ethereum Merge spikes block creation with a faster average block time

Bitcoin price starts ‘Uptober’ down 0.7% amid hope for final $20K push

Bitcoin (BTC) failed to hold $20,000 into the September monthly close as one trader eyed a final comeback before fresh downside.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader’s $20,500 upside target remains

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying lower after finishing the month at around $19,400.

Capping 3% losses, . . . → Read More: Bitcoin price starts ‘Uptober’ down 0.7% amid hope for final $20K push

Transit Swap loses over $21M due to code bug exploit, issues apology

Transit Swap, a multichain decentralized exchange aggregator, lost roughly $21 million after a hacker exploited an internal bug on a swap contract. Following the revelation, Transit Swap issued an apology to users with efforts to track down and recover the stolen funds currently underway.

“We are deeply sorry,” stated Transit Swap while revealing that a . . . → Read More: Transit Swap loses over $21M due to code bug exploit, issues apology

Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and FTX US buys Voyager: Hodler’s Digest, Sept. 25-Oct. 1

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week Pro-centralization Russian president grants citizenship to Edward Snowden: Report . . . → Read More: Putin gives Snowden citizenship, Interpol elicits help in Do Kwon search and FTX US buys Voyager: Hodler’s Digest, Sept. 25-Oct. 1

What is the economic impact of cryptocurrencies?

Although the cryptocurrency market appears to grow in a positive feedback loop, that does not mean that (un)expected events may not impact the trajectory of the ecosystem as a whole. 

Although blockchain and cryptocurrencies are fundamentally meant as ‘trustless’ technologies, trust remains key there where humans interact with one another. The cryptocurrency market . . . → Read More: What is the economic impact of cryptocurrencies?

What is wrapped Ethereum (wETH) and how does it work?

Traders who use the Ethereum network are familiar with the ERC-20 technical standard and have most likely traded and invested in tokens that utilize it. After all, its practicality, transparency and flexibility have made it the industry norm for Ethereum-based projects.

As such, many decentralized applications (DApps), crypto wallets and exchanges natively support ERC-20 . . . → Read More: What is wrapped Ethereum (wETH) and how does it work?

Nexo-labeled address withdraws $153M in Wrapped BTC from MakerDAO

Disclaimer: This article has been updated to reflect Nexo’s response stating that the fund transfer represents an operational transfer, involving the move of funds from one Nexo address to another.

Just a few days after market analysts predicted a 50% drop in NEXO price due to regulatory pressure and investor concerns, a crypto wallet . . . → Read More: Nexo-labeled address withdraws $153M in Wrapped BTC from MakerDAO

Net Bitcoin ATMs growth drops globally for the first time ever

The domino effect of a prolonged bear market seeped into the Bitcoin (BTC) ATM ecosystem as September 2022 recorded negative growth in global net installations for the first time in history — primarily driven by a slowdown in the United States.

The total number of Bitcoin ATMs installed over time fell to 37,980 in . . . → Read More: Net Bitcoin ATMs growth drops globally for the first time ever

So what if Bitcoin price keeps falling! Here is why it’s time to start paying attention

For bulls, Bitcoin’s (BTC) daily price action leaves a lot to be desired, and at the moment, there are few signs of an imminent turnaround. 

Following the trend of the past six or more months, the current factors continue to place pressure on BTC price:

Persistent concerns of potential stringent crypto regulation. United . . . → Read More: So what if Bitcoin price keeps falling! Here is why it’s time to start paying attention

Bitcoin 2021 bull market buyers ‘capitulate’ as data shows 50% losses

Bitcoin’s (BTC) spot trading below $20,000 is seeing a new “capitulation” event encompassing an entire year’s worth of buyers, research reveals.

In one of its Quicktake market updates on Sept. 29, on-chain analytics platform CryptoQuant flagged intense selling by a large number of recent hodlers.

2021 bull market coins “have been sold aggressively”

As . . . → Read More: Bitcoin 2021 bull market buyers ‘capitulate’ as data shows 50% losses

Price analysis 9/30: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on . . . → Read More: Price analysis 9/30: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

MicroStrategy takes its BTC maximalism to the next level with new engineer hire

MicroStrategy, the business intelligence and tech company that holds the world’s largest Bitcoin (BTC) reserve, is hiring a Bitcoin Lightning software engineer to create a Lightning Network-based software-as-a-service platform.

The new engineer will be responsible for building a Lightning Network-based platform to address enterprise cybersecurity challenges and enable new e-commerce use cases, according . . . → Read More: MicroStrategy takes its BTC maximalism to the next level with new engineer hire

Bitcoin surges above $20K after 6% BTC rally gains steam ahead of the monthly close

Bitcoin (BTC) swiftly climbed above $20,000 after the Sept. 30 Wall Street open as end-of-month volatility began. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin volatility back for monthly close

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in a single hourly candle to hit local highs of $20,171 on Bitstamp.

The . . . → Read More: Bitcoin surges above $20K after 6% BTC rally gains steam ahead of the monthly close

Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

Despite USD bringing an onslaught to stocks, commodities and its rival currencies, Bitcoin (BTC) holds steady at the $19,000 to $20,000 mark, leaving mainstream media no choice but to put BTC into the headlines.

American daily newspaper The New York Times highlighted BTC’s 6.5% increase in the last seven days and noted that . . . → Read More: Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

DEX dev Uniswap Labs looks for new funding at unicorn valuation: Report

Major decentralized exchange (DEX) Uniswap (UNI) is in the early stages of raising significant funds to further expand its decentralized finance (DeFi) offerings, according to a new report.

Uniswap Labs, a DeFi startup contributing to the Uniswap Protocol, is engaging with a number of investors to raise an equity round of $100 million to . . . → Read More: DEX dev Uniswap Labs looks for new funding at unicorn valuation: Report

Bitcoin sees first difficulty drop in 2 months as miners sell 8K BTC

Bitcoin (BTC) miners remain under stress at current price levels as data shows large outflows from miner wallets returning.

According to on-chain analytics firm Glassnode, monthly miner sales totaled up to around 8,000 BTC in September.

Bitcoin miners see heavy sales

In contrast to the June lows, when BTC/USD hit its current multi-year floor . . . → Read More: Bitcoin sees first difficulty drop in 2 months as miners sell 8K BTC

Bitcoin profitability for long-term holders declines to 4-year low: Data

Bitcoin’s (BTC) long-term profitability has declined to levels last seen during the previous bear market in December 2018. According to data shared by crypto analytic firm Glassnode, BTC holders are selling their tokens at an average loss of 42%.

Bitcoin long term holders. Source: Glassnode

The Glassnode data indicate that long-term holders of the . . . → Read More: Bitcoin profitability for long-term holders declines to 4-year low: Data

Bitcoin price due ‘big dump’ after passing $20K, warns trader

Bitcoin (BTC) returned to intraday resistance on Sept. 30 as analysis predicted that $20,000 could break before a new comedown.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crunch time for $20,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $19,600 at the time of writing.

The pair had seen a . . . → Read More: Bitcoin price due ‘big dump’ after passing $20K, warns trader

45% of ETH validators now complying with US sanctions — Labrys CEO

According to the CEO of blockchain development agency Labrys, Lachan Feeney, approximately 45% of all Ethereum blocks currently being validated run MEV-boost relay flashbots and comply with United States sanctions.

Speaking to Cointelegraph in an interview on Sept. 30, Feeney noted that while reports have stated that 25% of all blocks validated since the . . . → Read More: 45% of ETH validators now complying with US sanctions — Labrys CEO

Market manipulation claims will be hardest ‘nut to crack’ in Bitcoin ETF approval — WisdomTree

Will Peck, the head of digital assets at exchange-traded fund provider WisdomTree said regulators in the United States will “ultimately get there” on approving a Bitcoin spot investment vehicle, but dealing with claims of market manipulation could be a challenge.

Speaking to Cointelegraph at the Converge22 conference in San Francisco on Sept. 29, . . . → Read More: Market manipulation claims will be hardest ‘nut to crack’ in Bitcoin ETF approval — WisdomTree

Why this UK territory is adopting the Bitcoin Lightning Network

Cointelegraph reporter Joe Hall visited Gibraltar to explore Bitcoin (BTC) adoption on “The Rock,” as the peninsula is known locally, and how the adoption of Bitcoin for shopping in the territory is impacting business.

The visit was also an opportunity to visit Xapo Bank, the world’s first private financial institution to combine . . . → Read More: Why this UK territory is adopting the Bitcoin Lightning Network

Pro traders don’t expect Bitcoin to break and hold $20,000 anytime soon

One hundred and eleven days have passed since Bitcoin (BTC) posted a close above $25,000 and this led some investors to feel less sure that the asset had found a confirmed bottom. At the moment, global financial markets remain uneasy due to the increased tension in Ukraine after this week’s Nord Stream gas pipeline . . . → Read More: Pro traders don’t expect Bitcoin to break and hold $20,000 anytime soon

US Treasury yields are soaring, but what does it mean for markets and crypto?

Across all tradeable markets and currencies, U.S. Treasurys — government bonds — have significant influence. In finance, any risk measurement is relative, meaning, if one insures a house, the maximum liability is set in some form of money. 

Similarly, if a loan is taken from a bank, the creditor has to calculate the odds . . . → Read More: US Treasury yields are soaring, but what does it mean for markets and crypto?

Bitcoin price slips under $19K as official data confirms US recession

Bitcoin (BTC) wobbled in its narrow trading range at the Sept. 29 Wall Street open as official data put the United States economy in recession. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. meets technical definition of recession

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still hovering just above $19,000 at the time . . . → Read More: Bitcoin price slips under $19K as official data confirms US recession

Ethereum Merge was ‘executed flawlessly,’ says Starkware co-founder

As the dust settled over the Ethereum network’s highly-anticipated transition to proof-of-stake (PoS), Eli Ben-Sasson, the co-founder of Starkware, gave his thoughts on its execution and potential for the future.

Speaking to Cointelegraph’s Gareth Jenkinson at the Token2049 event, Ben-Sasson shared his thoughts on the current situation post-Merge and how it affects layer-2 . . . → Read More: Ethereum Merge was ‘executed flawlessly,’ says Starkware co-founder

Institutional appetite continues to grow amid bear market — BitMEX CEO

In a recent interview, BitMEX CEO Alexander Höptner shared his thoughts about institutional investors who, in his view, still have an appetite for crypto and Ethereum.

Speaking at the Token2049 conference in Singapore on Sept. 28, the crypto executive told Cointelegraph that there has not been a “single slowdown of institutional push into . . . → Read More: Institutional appetite continues to grow amid bear market — BitMEX CEO

Price analysis 9/28: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

The S&P 500 fell for six days in a row and made a new year-to-date low on Sept. 27, but Bitcoin (BTC) maintained its outperformance and stayed well above its June low. This could be a positive sign because markets that show strength on the way down are the ones that outperform in the . . . → Read More: Price analysis 9/28: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin price charges higher, but whales line up to sell BTC at $20K

Bitcoin (BTC) staged a welcome comeback after the Sept. 28 Wall Street open as bulls faced off with whale-sized sellers.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Whales lie in wait at $20,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining over $1,000 on the day to see highs of $19,656 on . . . → Read More: Bitcoin price charges higher, but whales line up to sell BTC at $20K

Bitcoin holds $19K, but volatility expected as Friday’s $2.2B BTC options expiry approaches

This week, the $20,000 resistance is proving to be stronger than expected and even after Bitcoin (BTC) price rejected this level on Sept. 27, BTC bulls still have reasons not to give up. 

According to the four-month-long descending triangle, as long as the $18,500 support holds, Bitcoin price has until late October to determine . . . → Read More: Bitcoin holds $19K, but volatility expected as Friday’s $2.2B BTC options expiry approaches

Bitcoin ‘great detox’ could trigger a BTC price drop to $12K: Research

Bitcoin (BTC) is in a “dire condition” when it comes to adoption — but a silver lining is already visible, new research says.

In the latest edition of its weekly newsletter, the Week On-Chain, crypto analytics firm Glassnode said that Bitcoin was going through a “great detox.”

Bitcoin adoption returns to March 2020

Current . . . → Read More: Bitcoin ‘great detox’ could trigger a BTC price drop to $12K: Research

Are decentralized digital identities the future or just a niche use case?

As users take advantage of online services and explore the internet, they eventually create a digital identity. This type of identity is then tied to central entities like Google and Facebook, which make it easier to share data with new services through simple sign-in buttons.

While these digital identity management systems are convenient, . . . → Read More: Are decentralized digital identities the future or just a niche use case?

Next Bitcoin bull run to be half story, half utility — Mike Novogratz at Token2049

The next Bitcoin (BTC) bull run will have to be much different from historical cryptocurrency rallies in terms of story and utility, Galaxy Digital CEO Mike Novogratz believes.

Compared with previous bull runs, the next Bitcoin rally will have to be more focused on utility and less on the story, Novogratz predicted during a . . . → Read More: Next Bitcoin bull run to be half story, half utility — Mike Novogratz at Token2049

Pantera CEO bullish on DeFi, Web3 and NFTs as Token2049 gets underway

Pantera CEO Dan Morehead highlighted the potential growth and value of decentralized finance (DeFi), Web3 functionality, nonfungible tokens (NFTs) and metaverse applications in his opening keynote speech at Token2049 in Singapore.

Thousands of attendees converged on Wednesday at the Marina Bay Sands Convention Center for the start of the two-day conference, which features prominent . . . → Read More: Pantera CEO bullish on DeFi, Web3 and NFTs as Token2049 gets underway

Anonymous makes numerous allegations against Yuga Labs and its Bored Ape Yacht Club

On Sept 26, internet hacktivist group Anonymous released a video addressing blockchain technology company Yuga Labs and its NFT-driven social club, Bored Ape Yacht Club (BAYC).

The group’s statement included a laundry list of allegations regarding Yuga Lab’s alleged use of esoteric symbolism in BAYC’s art — which Anonymous believes shows the company’s . . . → Read More: Anonymous makes numerous allegations against Yuga Labs and its Bored Ape Yacht Club

Tax on income you never earned? It’s possible after Ethereum’s Merge

After much buildup and preparation, the Ethereum Merge went smoothly this month. The next test will come during tax season. Cryptocurrency forks, such as Bitcoin Cash, have created headaches for investors and accountants alike in the past.

While there has been progress, the United States Internal Revenue Service rules still weren’t ready for something . . . → Read More: Tax on income you never earned? It’s possible after Ethereum’s Merge

Bitcoin price fails to hold $20K again, but there is a silver lining

Markets briefly flashed green on Sept. 27 as equities markets bounced back from Sept. 26’s pullback, bringing the Bitcoin (BTC) price back to the long-term descending trendline resistance, which currently resides at $20,100. 

Unfortunately for bulls, the positive momentum for stocks and cryptocurrencies rapidly eroded and Bitcoin price gave up a majority of the . . . → Read More: Bitcoin price fails to hold $20K again, but there is a silver lining

Bitcoin price loses $20K as trader warns US dollar ‘not quite topped out’

Bitcoin (BTC) crossed under $20,000 after the Sept. 27 Wall Street open as United States equities inched higher.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. dollar has room to run — trader

Data from Cointelegraph Markets Pro and TradingView confirmed the $20,000 mark barely remaining as tentative support on the day.

BTC/USD had . . . → Read More: Bitcoin price loses $20K as trader warns US dollar ‘not quite topped out’

The British pound collapse and its impact on cryptocurrency: Watch the Market Report

On this week’s The Market Report show, Cointelegraph’s resident experts discuss why the British pound is at its all-time low and how that might impact the cryptocurrency market.

To kick things off, we break down the latest news in the markets this week:

Bitcoin gains 5% to reclaim $20K, eyes first ‘green’ September . . . → Read More: The British pound collapse and its impact on cryptocurrency: Watch the Market Report

Bitcoin, British pound trading volume soars 1,150% as UK’s currency risks dollar parity

Bitcoin (BTC) will see increased interest from the United Kingdom “very quickly” as fiat currency volatility makes BTC look like a stablecoin.

That was the conclusion from Gabor Gurbacs, strategy adviser at investment giant VanEck, who was one of many flagging Bitcoin’s appeal over the pound this week.

U.K. becomes fertile ground for Bitcoin . . . → Read More: Bitcoin, British pound trading volume soars 1,150% as UK’s currency risks dollar parity

Report: Korean authorities orders freeze of $67M of Bitcoin tied to Do Kwon

South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, the co-founder of Terra blockchain developer Terraform Labs.

Kwon, who is currently on the run from the Korean authorities in the securities violation case, reportedly created a new wallet on Sept. 15, just . . . → Read More: Report: Korean authorities orders freeze of $67M of Bitcoin tied to Do Kwon

The path moving forward for ex-Ethereum miners remains unclear

It’s been nearly two weeks since Ethereum made its historic transition from proof-of-work to proof-of-stake, and some ex-ETH miners say they remain clueless on how to move forward. 

Following the Merge, many took to crypto Twitter to discuss what they believe will happen to these former Ethereum miners. On the day of the . . . → Read More: The path moving forward for ex-Ethereum miners remains unclear

7 Ethereum developers would like to sell you on the Merge

Since the founding of Ethereum in 2015, an animating question that plagued the community was answered at exactly 06:42:59 UTC on Thursday, Sept. 15, 2022.

Ethereum, the technological layer where a new class of applications and self-organizing organizations are being built, eliminated its reliance on an energy-intensive consensus mechanism called proof-of-work (PoW) to a . . . → Read More: 7 Ethereum developers would like to sell you on the Merge

What will happen to Bitcoin and Ethereum if traditional markets break?

Michael J. Burry, the financial wizard who was portrayed in the movie “The Big Short”, is known for predicting crises. For instance, his investment fund made billions from the 2008 housing crash, and Burry liquidated almost all his entire portfolio during the 2Q of 2022.

Given that no one seems to know whether . . . → Read More: What will happen to Bitcoin and Ethereum if traditional markets break?

Price analysis 9/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

The United Kingdom is in focus following the British pound’s fall to a new all-time low against the United States dollar. The sell-off was triggered by the aggressive tax cuts announced by Prime Minister Liz Truss’s government. The 10-year gilt yields have soared by 131 basis points in September, on track for its biggest . . . → Read More: Price analysis 9/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

On Sept. 26, the British pound hit a record low against the U.S. dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. The volatility simply reflects investors’ doubts about the government’s capacity to withstand the growing costs of living across the region.

. . . → Read More: Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollar

Traders brace for Bitcoin price volatility as DXY 2022 gains near 20%

Bitcoin (BTC) volatility edged higher during Sept. 26 as the Wall Street open avoided significant losses.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Monthly close tipped to shake up BTC price

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $19,000 on the day, with hourly candles of 1.5%–2% not uncommon.

The pair . . . → Read More: Traders brace for Bitcoin price volatility as DXY 2022 gains near 20%

5 years of the ‘Top 10 Cryptos’ experiment and the lessons learned

When Redditor Joe Greene started the Top 10 Cryptos experiment in 2018, he bought $1,000 of Dash, NEM and Iota, among others, only to watch it crash to $150. But five years on, his experiment has paid off big time.

The rules: Buy $100 of each of the top 10 cryptocurrencies on Jan. 1, . . . → Read More: 5 years of the ‘Top 10 Cryptos’ experiment and the lessons learned

Charles Hoskinson and Ethereum dev get into a war of words post-Vasil upgrade

Charles Hoskinson, founder of Cardano and co-founder of Ethereum, got into a war of words with Ethereum developers on the implementation of the proof-of-stake (PoS) consensus via the Ethereum Merge.

On Sunday, Web3 investor Evan Van Ness shared an unpopular opinion, claiming that the Ethereum Merge could have been shipped earlier. Vitalik Buterin, . . . → Read More: Charles Hoskinson and Ethereum dev get into a war of words post-Vasil upgrade

China GPU prices drop to new lows after the Ethereum Merge

As the Ethereum network’s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China. 

Following the historic Ethereum Merge on Sept. 15, the previously highly sought-out Nvidia GeForce GPUs have become . . . → Read More: China GPU prices drop to new lows after the Ethereum Merge

Reversible transactions could mitigate crypto theft — Researchers

Stanford University researchers have come up with a prototype for “reversible transactions” on Ethereum, arguing it could be a solution to reduce the impact of crypto theft.

In a Sunday tweet, Stanford University blockchain researcher Kaili Wang shared a rundown of the Ethereum-based reversible token idea, noting that at this stage, it is . . . → Read More: Reversible transactions could mitigate crypto theft — Researchers

5 altcoins that could turn bullish if Bitcoin price stabilizes

The major United States stock market indices continued their decline last week as worsening macroeconomic conditions increased concerns of a global recession. The Dow Jones Industrial Average closed at its lowest level in 2022 and major indices recorded their fifth weekly close in the past six weeks.

Although Bitcoin (BTC) has only declined marginally . . . → Read More: 5 altcoins that could turn bullish if Bitcoin price stabilizes

Is post-Merge Ethereum PoS a threat to Bitcoin’s dominance?

While Ethereum (ETH) fans are enthusiastic about the successful Merge, Swan Bitcoin CEO Cory Klippsten believes the upgrade will lead Ethereum into a “slow slide to irrelevance and eventual death.” 

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According to Klippsten, the Ethereum community picked the wrong moment for detaching the protocol from its reliance on energy. As many . . . → Read More: Is post-Merge Ethereum PoS a threat to Bitcoin’s dominance?

Bitcoin risks worst weekly close since 2020 as BTC price dices with $19K

Bitcoin (BTC) headed for its lowest weekly close since 2020 on Sept. 25 as a week of macro turmoil took its toll.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader prepares for “important week” for BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $19,000 with hours left to run on . . . → Read More: Bitcoin risks worst weekly close since 2020 as BTC price dices with $19K

Post-Merge ETH has become obsolete

For years, various blockchain projects were rumored to be future “Ethereum killers,” projects that would unseat Ether from its throne and usurp its title as the top digital asset. That day seems to have come, though it appears it was an inside job. Lido-staked Ethereum (stETH) and other liquid staking derivatives are primed to . . . → Read More: Post-Merge ETH has become obsolete

The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price?

Grayscale Bitcoin Trust (GBTC), a cryptocurrency fund that currently holds 3.12% of the total Bitcoin (BTC) supply, or over 640,000 BTC, is trading at a record discount compared to the value of its underlying assets.

Institutional interest in Grayscale dries up

On Sep. 23, the $12.55 billion closed-end trust was trading at a 35.18% . . . → Read More: The biggest Bitcoin fund just hit a record -35% discount — A warning for BTC price?

Wintermute suffers $160M attack, Kraken CEO departs and US bill aims to ban algo stablecoins: Hodler’s Digest, Sept. 18-24

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week Kraken’s Jesse Powell will step down as CEO, stay . . . → Read More: Wintermute suffers $160M attack, Kraken CEO departs and US bill aims to ban algo stablecoins: Hodler’s Digest, Sept. 18-24

What is a cryptocurrency mining pool?

In the early days of Bitcoin (BTC), crypto enthusiasts only required a basic personal computer with an internet connection to generate new BTC tokens through a distributed computing process known as mining. 

However, with more people chasing the same number of block rewards, Bitcoin’s mining process has become more challenging with time. In fact, . . . → Read More: What is a cryptocurrency mining pool?

MEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot

MEV gain, an Ethereum (ETH) arbitrage trading bot built by MEVbots, which claims to provide stress-free passive income, has been actively draining its users’ funds via a fund-stealing backdoor. 

Arbitrage bots are programs that automate trading for profits based on historical market information. An investigation of MEVbots’ contract revealed a backdoor that allows the . . . → Read More: MEVbots backdoor drains users’ Ethereum funds via arbitrage trading bot

Bitcoin was almost named Netcoin by Satoshi Nakamoto, hints domain data

Coming up with a good name is often one of the most challenging decisions one needs to make when launching a new service or business. Historical data of domain name purchases suggest that Satoshi Nakamoto, the creator of Bitcoin (BTC), had an alternate naming option in mind that did not make it to . . . → Read More: Bitcoin was almost named Netcoin by Satoshi Nakamoto, hints domain data

Price analysis 9/23: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

The S&P 500 index has declined about 5% this week while the Nasdaq Composite is down more than 5.5%. Investors fear that the Federal Reserve’s aggressive rate hikes could cause an economic downturn. The yield curve between the two-year and 10-year Treasury notes, which is watched closely by analysts for predicting a recession, has . . . → Read More: Price analysis 9/23: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT

Why is the crypto market down today?

Crypto prices keep falling, but why? This year’s market crash has turned most winning portfolios into net losers, and new investors are probably losing hope in Bitcoin (BTC).

Investors know that cryptocurrencies exhibit higher than average volatility, but this year’s drawdown has been extreme. After hitting a stratospheric all-time high at $69,400, Bitcoin . . . → Read More: Why is the crypto market down today?

El Salvador’s Bitcoin decision: Tracking adoption a year later

El Salvador, the small Central American nation that made history just over a year ago when it made Bitcoin (BTC), recently marked its first year of BTC adoption.

The Salvadoran government touted BTC as a tool to attract foreign investment, create new jobs and cut reliance on the United States dollar in the country’s . . . → Read More: El Salvador’s Bitcoin decision: Tracking adoption a year later

Is the bottom in? Crypto community shares their thoughts

Buying the dip instantly becomes a nightmare when crypto prices go down even further as the bear market continues its onset. However, recent dips show that current prices may potentially be a good entry point for traders. To find out what the community thinks, Cointelegraph asked Twitter to answer the question — is . . . → Read More: Is the bottom in? Crypto community shares their thoughts

GitHub unbans Tornado Cash repositories following OFAC guidance

Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website.

Ethereum developer Preston Van Loon took to Twitter on Thursday to report that GitHub has partly unbanned the Tornado Cash organization and contributors on their platform. The developer suggested that Tornado Cash’s code . . . → Read More: GitHub unbans Tornado Cash repositories following OFAC guidance

BTC mining firm Compute North files for bankruptcy

Bitcoin (BTC) mining hosting firm Compute North has filed for Chapter 11 bankruptcy amid growing pressure on the firm due to the effects of crypto winter and rising energy costs. The firm’s CEO, Dave Perrill, has also stepped down but will remain on the board.

The company submitted a Chapter 11 bankruptcy . . . → Read More: BTC mining firm Compute North files for bankruptcy

Bitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even more

Bitcoin’s (BTC) and Ether’s (ETH) agonizing 60% and 66% respective drops in price are drawing a lot of criticism from crypto critics and perhaps this is deserved, but there are also plenty of stocks with similar, if not worse, performances. 

The sharp volatility witnessed in crypto prices is partially driven by major centralized . . . → Read More: Bitcoin’s 60% year-to-date correction looks bad, but many stocks have dropped by even more

Total crypto market cap shows strength even after the Merge and Federal Reserve rate hike

Cryptocurrencies have been in a bear trend since mid-August after they failed to break above the $1.2 trillion market capitalization resistance. Even with the current bear trend and a brutal 25% correction, it has not been enough to break the three-month-long ascending trend.

The crypto markets’ aggregate capitalization declined 7.2% to $920 billion in . . . → Read More: Total crypto market cap shows strength even after the Merge and Federal Reserve rate hike

Fed interest rate hike rattles the crypto market: Dig deeper with Market Talks

In this week’s episode of Market Talks, we welcome Yashu Gola, a Mumbai-based financial analyst and technology journalist at Cointelegraph with a strong focus on Bitcoin (BTC), smart contracts, exchange assets, nonfungible tokens, commodities and global stocks. Gola has been covering the cryptocurrency industry since 2014 and does not expect to stop anytime . . . → Read More: Fed interest rate hike rattles the crypto market: Dig deeper with Market Talks

This Bitcoin long-term holder metric is nearing the BTC price ‘bottom zone’

A Bitcoin (BTC) on-chain indicator, which tracks the amount of coin supply held by long-term holders (LTHs) in losses, is signaling that a market bottom could be close.

Eerily accurate Bitcoin bottom pundit

As of Sept. 22, approximately 30% of Bitcoin’s LTHs were facing losses due to BTC’s decline from $69,000 in November 2021 . . . → Read More: This Bitcoin long-term holder metric is nearing the BTC price ‘bottom zone’

Ethereum post-Merge hard forks are here: Now what?

On the first day after the Merge, the decentralized finance (DeFi) community is settling into the seemingly uneventful transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS). However, it has yet to be seen the benefits that hard forks will bring to PoW supporters.

So far, the most important contending networks . . . → Read More: Ethereum post-Merge hard forks are here: Now what?

Toss in your job and make $300K working for a DAO? Here’s how

Increasing numbers of employees are quitting 9–5 corporate jobs to work for DAOs. While the money’s great, DAOs fall into a legal gray area, and it can be tricky to get your foot in the door.

Researchers Nataliya Ilyushina and Trent MacDonald from the Royal Melbourne Institute of Technology Blockchain Innovation Hub take you . . . → Read More: Toss in your job and make $300K working for a DAO? Here’s how

How to stake Fantom (FTM)?

Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become . . . → Read More: How to stake Fantom (FTM)?

Ethereum risks another 10% drop versus Bitcoin as $15.4M exits ETH investment funds

Ethereum’s Merge on Sep. 15 turned out to be a sell-the-news event, which looks set to continue. 

Notably, Ether (ETH) dropped considerably against the U.S. dollar and Bitcoin (BTC) after the Merge. As of Sept. 22, ETH/USD and ETH/BTC trading pairs were down by more than 20% and 17%, respectively, since Ethereum’s switch to proof-of-stake (PoS).

ETH/USD . . . → Read More: Ethereum risks another 10% drop versus Bitcoin as $15.4M exits ETH investment funds

How Bitcoin ATMs in Greece fare during a record-breaking tourist season

Greece is globally recognized for its touristic lures of idyllic beaches and a laid-back lifestyle. Prior to the outbreak of the global pandemic, the World Travel and Tourism Council said that tourism generated over one-fifth of Greece’s total GDP.

This year, the country faced a record number of travelers during its summer tourism . . . → Read More: How Bitcoin ATMs in Greece fare during a record-breaking tourist season

JPMorgan CEO calls crypto ‘decentralized Ponzi schemes’

While testifying before United States lawmakers, JPMorgan Chase CEO Jamie Dimon referred to himself as a “major skeptic” on “crypto tokens, which you call currency, like Bitcoin,” labeling them as “decentralized Ponzi schemes.”

Dimon was asked what keeps him from being more active in the crypto space during an oversight hearing held by . . . → Read More: JPMorgan CEO calls crypto ‘decentralized Ponzi schemes’

Price analysis 9/21: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

The Federal Reserve hiked rates by 75 basis points on Sept. 21 and Fed Chair Jerome Powell projected another 125 basis points increase before the end of the year. If that happens, it will take the benchmark rate to 4.4% by the end of the year, which is sharply higher than the June estimates . . . → Read More: Price analysis 9/21: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, SHIB

Bitcoin, Ethereum and altcoins hold intraday gains after Fed hikes interest rates by 0.75%

Bitcoin (BTC) retreated and reversed its intraday gains after the Federal Reserve announced its third consecutive 75 basis point (bps) interest rate rise on Sept. 21.

Traders sold the news

BTC’s price dropped circa 6.5% from its intraday high of $19,950, hitting $18,660 minutes after the Federal Open Market Committee’s statement. Its decline mirrored . . . → Read More: Bitcoin, Ethereum and altcoins hold intraday gains after Fed hikes interest rates by 0.75%

Raise a glass to Satoshi’s Place: the challenge of running Bitcoin businesses

A Bitcoin (BTC) hub in Greater Manchester opened on Sept. 16, where everything–absolutely everything is Bitcoin themed or oriented. Cointelegraph took a trip to the bar and workshop space, called Satoshi’s Place to interview the founder and raise a glass to the latest Bitcoin speakeasy. 

Named after the anonymous creator of the world’s largest . . . → Read More: Raise a glass to Satoshi’s Place: the challenge of running Bitcoin businesses

The impact of the Wintermute hack could have been worse than 3AC, Voyager and Celsius — Here is why

Most crypto investors probably never heard of Wintermute Trading before the Sept. 20 $160 million hack, but that does not reduce their significance within the cryptocurrency ecosystem. The London-based algorithmic trading and crypto lending firm also provides liquidity to some of the largest exchanges and blockchain projects.

As a crypto-native trading firm, meaning . . . → Read More: The impact of the Wintermute hack could have been worse than 3AC, Voyager and Celsius — Here is why

Are noncustodial crypto wallets a practical option for the everyday hodler?

As crypto ownership becomes more and more common, holders will need to think about how they protect and hold their assets. The safest option is storing cryptocurrency in a personal wallet. 

Crypto wallets are programs that allow users to store, send and receive cryptocurrency. Each wallet has a private key that allows the . . . → Read More: Are noncustodial crypto wallets a practical option for the everyday hodler?

Are there too many cryptocurrencies?

The cryptocurrency industry has grown at a staggering pace. There are now almost 21,000 different coins in existence, across a variety of subsectors. From metaverses to decentralized finance, investors are spoiled for choice.

But a burning question, especially among crypto skeptics, is this: Are there too many cryptocurrencies? We’ve repeatedly seen how new . . . → Read More: Are there too many cryptocurrencies?

Bitcoin ‘nuke’ warning as Fed rate hike decision looms — Dollar index hits 20-year high

Bitcoin (BTC) underwent a weak rebound on Sept. 21, and the U.S. dollar jumped to a new yearly high as investors await Sept. 21’s Federal Open Market Committee’s interest rate decision.

BTC price holds $19K ahead of Fed decision

BTC’s price has managed to cling on to $19,000 with a modest daily gain of . . . → Read More: Bitcoin ‘nuke’ warning as Fed rate hike decision looms — Dollar index hits 20-year high

Digital bank FV Bank integrates USDC stablecoin for direct deposits

The global digital bank FV Bank is the latest financial platform to enable deposits in Circle-backed stablecoin USD Coin (USDC).

FV Bank on Wednesday announced the launch of a new service allowing its account holders to make direct deposits in USDC to the bank’s U.S. dollar accounts. The new feature enables customers to . . . → Read More: Digital bank FV Bank integrates USDC stablecoin for direct deposits

Sharding could resolve Ethereum scalability trilemma, says researcher

After a successful Ethereum Merge, all eyes are set on the next phase of transition, which would introduce key scalability solutions on the platform, including sharding. Market experts believe sharding would be a game changer for the Ethereum network as it could potentially solve the scalability trilemma.

In an exclusive conversation with Cointelegraph, Uphold’s head of . . . → Read More: Sharding could resolve Ethereum scalability trilemma, says researcher

Ethereum co-founder Vitalik Buterin defends DAOs against critics

Ethereum co-founder Vitalik Buterin has reiterated his support for decentralized autonomous organizations (DAOs), arguing that in some circumstances, they can be more efficient and fairer than a traditional corporate structure.

In theory, DAOs are collectively owned and managed by their members and have no central leadership. All decisions relating to aspects such as . . . → Read More: Ethereum co-founder Vitalik Buterin defends DAOs against critics

‘Fear of the unknown’ holds back tradfi investors from crypto — Bloomberg analyst

Jamie Coutts, Crypto Market Analyst for Bloomberg Intelligence argues that “falsehoods” and “fear of the unknown” is what has been holding back traditional portfolio managers from investing in cryptocurrency. 

Speaking to Cointelegraph during the Australian Crypto Convention over the weekend, Coutts argues there has been an ongoing “falsehood” that “there is no intrinsic value . . . → Read More: ‘Fear of the unknown’ holds back tradfi investors from crypto — Bloomberg analyst

Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’

Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. 

At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%.

Stocks also appear en-route to close the day . . . → Read More: Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’

Staking providers could expand institutional presence in the crypto space: Report

The Ethereum blockchain’s carbon footprint is expected to reduce by 99% following last week’s Merge event. By positioning staking as a service for retail and institutional investors, the upgrade could also have a significant impact on the crypto economy, according to a report from Bitwise on Tuesday.

The company said it projects potential . . . → Read More: Staking providers could expand institutional presence in the crypto space: Report

Crypto market dumps after Ethereum Merge, why? Watch The Market Report

On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss why the crypto market is dumping after the Ethereum Merge and why the bears are winning.

To kick things off, we break down the latest news in the markets this week:

Biggest Fed rate hike in 40 years? Five things to know . . . → Read More: Crypto market dumps after Ethereum Merge, why? Watch The Market Report

Ethereum miners dump 30K ETH, stonewalling ‘ultra sound money’ deflation narrative

Ethereum’s switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether’s (ETH) upside momentum as ETH miners added sell pressure to the market. 

On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with . . . → Read More: Ethereum miners dump 30K ETH, stonewalling ‘ultra sound money’ deflation narrative

Saving the planet could be blockchain’s killer app

The sustainability movement has emerged as a 21st century megatrend, and it shows no signs of abating. Record heat in Europe, wildfires in the U.S. West, floods in Pakistan, drought in China, and accelerating ice cap melt in Greenland and Antarctica have driven home to many the looming threat of climate change.  

Meanwhile, the . . . → Read More: Saving the planet could be blockchain’s killer app

Michael Saylor can’t stop: MicroStrategy now holds 130,000 Bitcoin

MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 

In sum, the company is one of the planet’s largest holders of the . . . → Read More: Michael Saylor can’t stop: MicroStrategy now holds 130,000 Bitcoin

Bitcoin still dominates total payments on BitPay despite the bear market

The cryptocurrency bear market has had an impact on how people pay with crypto, but Bitcoin (BTC) remains a major payment tool despite huge volatility, according to data from BitPay.

The share of Bitcoin payments in the total BitPay transactions has been shrinking amid the ongoing cryptocurrency winter, but it’s still the most popular . . . → Read More: Bitcoin still dominates total payments on BitPay despite the bear market

Alameda Research ‘happy to return’ $200M loan to Voyager Digital

Quantitative trading company Alameda Research will return an estimate of $200 million to Voyager Digital, which is proceeding through bankruptcy. Alameda borrowed the funds in cryptocurrencies in September 2021. At that time, the sum was close to $380 million. 

Per a recent filing in the Bankruptcy Court of Southern District of New York, the parties . . . → Read More: Alameda Research ‘happy to return’ $200M loan to Voyager Digital

Ethereum co-founder Vitalik Buterin shares vision for layer-3 protocols

While Ethereum-based layer-2 solutions have been focused on hyperscaling the network, Ethereum co-founder Vitalik Buterin believes layer 3s will serve a far different purpose — providing “customized functionality.” 

Buterin shared his thoughts in a Saturday post, providing three “visions” of what layer 3s will be used for in the future.

The Ethereum co-founder said . . . → Read More: Ethereum co-founder Vitalik Buterin shares vision for layer-3 protocols

‘Fed sledgehammer’ will further batter BTC, ETH prices — Bloomberg analyst

The United States Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone.

Ahead of the latest Fed interest rate hike to be announced this week, the market . . . → Read More: ‘Fed sledgehammer’ will further batter BTC, ETH prices — Bloomberg analyst