Cryptocurrency

Shardeum collaborates with leading web3 bug bounty platform to test the network head of mainnet launch, offering a total of $700,000 USD in bounties Shardeum, the autoscaling layer-1 blockchain, announces a partnership with Immunefi, the leading bug bounty and security services platform for Web3, to facilitate Shardeum’s first bug bounty ahead of their mainnet launch. The bug bounty will be used to further detect any critical issues and bugs within the network and act as a major step in ensuring steadfast security before Shardeum’s mainnet goes live.While Shardeum has conducted several internal security audits with third-party vendors, this is Shardeum’s first bug bounty where individuals can essentially try to “break the system” through ethical hacking to detect bugs and vulnerabilities. If participants can provide proper proof of concept and show replicability, they are provided bounties for their participation in the program. Shardeum is partnering with Immunefi to facilitate this program and allow for seamless recruitment and participation from developers across the globe.Users who want to learn more about Shardeum’s bug bounty or want to learn how to participate, can refer to the Core and Ancillary boost links provided above.Media Enquiries:media@shardeum.orgAbout ShardeumShardeum is an autoscaling EVM-based layer-1 blockchain. Dynamic state sharding helps keep gas fees low and TPS high as participation grows. Shardeum performs consensus at the transaction level and lowers the computational power needed for validator nodes. This consensus mechanism makes it possible for anyone to run a node while increasing decentralization.About ImmunefiImmunefi is the largest crowdsourced security platform for web3. Immunefi guards over $190 billion in user funds across projects like Chainlink, Wormhole, MakerDAO, TheGraph, Synthetix, Polygon, Optimism, and others. The company has paid out the most significant bug bounties in the software industry, amounting to over $100 million, and has pioneered the scaling web3 bug bounties standard.ContactsChief Growth OfficerKelsey McGuireShardeumkelsey@shardeum.orgPriyanka SharmaShardeumpriyanka@shardeum.orgThis article was originally published on Chainwire More

As mentioned, the transaction 11 years ago originated from another address, “1aWmn,” which also had a remaining balance of 180 BTC. While 140 BTC were transferred to “1BLoHu”, public records show that another 40 BTC were transferred to Okcoin.Today, the latest activity saw “1aWmn” transfer the dormant 140 BTC from “1BLoHu” to a new address, “bc1q66.” The identity of “bc1q66” and the intended use of the transferred funds remain unknown, fueling speculation within the community.This sudden movement of a significant amount of Bitcoin after such a long period of time has sparked various theories. Some speculate that the original owner may be cashing in on the substantial appreciation of his investment, worth $8 million to be exact.Others theorize that it could be a wealth redistribution strategy, or a security measure in response to advances in blockchain analysis techniques.This is because the shift from the legacy address format “1” to the more modern “bc1” format is seen as a move toward improved security and efficiency. The “bc1” format, also known as Bech32, offers benefits such as better error detection and a more user-friendly structure, which could be reasons for the move.This article was originally published on U.Today More

This statement, as relevant now as it was then, reads: “Bitcoin uses cryptography and a distributed network to replace the need for a trusted central server. Escape the arbitrary inflation risk of centrally managed currencies. Bitcoin’s total circulation is limited to 21 million coins.”This quote succinctly encapsulates the revolutionary principles that underpin Bitcoin: decentralization, cryptographic security and a finite supply designed to counteract inflationary pressures typical of fiat currencies.Rizzo reflects on the enduring truth of these words, stating, “Satoshi Nakamoto on Bitcoin, exactly 14 years ago. True at $0.01, true today.” This sentiment echoes the timelessness of Satoshi’s vision, as Bitcoin continues to operate under the same principles that were laid out over a decade ago.Since Satoshi’s statement, Bitcoin has undergone significant evolution, becoming the leading cryptocurrency and a store of value often referred to as “digital gold.”Bitcoin started trading less than a cent 14 years ago, and its value has risen significantly, reaching a record high of more than $73,700 in mid-March.Crypto analyst Ali has recently turned the spotlight on Bitcoin’s three-day chart, and it appears the market is serving up a delectable setup for bulls. The chart is currently showcasing a bullish reversal doji candlestick, a classic technical pattern that often whets the appetite of traders looking for a trend reversal.Ali noted, “Bitcoin is looking like a snack in the 3-day chart. The development of a bullish reversal doji candlestick, combined with a buy signal from the TD Sequential.”If these technical signals prove accurate, Bitcoin could be set for a significant price increase. The market continues to watch these developments closely, as a confirmed bullish reversal could attract more buying interest and drive BTC prices higher.This article was originally published on U.Today More

Renowned for his precise forecasting and profound understanding of the market, Brandt noted that the current correction in Bitcoin should worry investors. The 200 exponential moving average, which has historically served as a reliable support line, has been broken by the cryptocurrency, which has lost a substantial amount of ground. This breach raises the possibility that a more significant correction is in progress.Recently, the price of Bitcoin crashed below $58,000, causing massive market liquidations. Bitcoin is in a downtrend and has not been able to maintain its upward momentum. It is unclear how long this uptrend will last given the sharp contrast between the current market behavior and the bull run we saw earlier in this cycle.The cryptocurrency market has been affected by this global uncertainty, which has raised volatility and put pressure on sellers. The second major factor affecting Bitcoin and other cryptocurrencies is still the massive outflow of funds triggered by the selling pressure from Mt. Gox and the German government. Billions worth of BTC entered the market with a thin liquidity, causing a price drop we are witnessing right now.These legal obstacles are probably going to stay in place, which will put more pressure on the price of Bitcoin. The third factor contributing to the downturn is the dearth of new institutional inflows.Significant institutional investment fueled the previous bull run, pushing Bitcoin to all-time highs. But these investments have slowed down in the current cycle, which has made the correction worse. A key test for Bitcoin is the current correction. We might see additional declines and possibly test the lower bounds of the uptrend that began in 2022 if the price is unable to hold above important support levels.This article was originally published on U.Today More

Over the past six weeks, these large BTC wallets have been the extreme beneficiaries of the market’s volatility. As the price of Bitcoin experienced fluctuations, these wallets added a staggering 212,450 BTC to their holdings. This accumulation represents an increase of 1.05% of the total Bitcoin supply.Santiment’s analysis suggests that these large BTC addresses are likely comprised heavily of exchange liquidity providers. These entities play a crucial role in maintaining the liquidity of Bitcoin across various trading platforms.Bitcoin surged to an all-time high of more than $73,700 in March of this year, when the Securities and Exchange Commission approved the first U.S. spot Bitcoin exchange-traded fund, or ETF.Since then, Bitcoin prices have been consolidating within a well-defined $60,000 to $70,000 range with investor apathy and boredom setting in. This has resulted in widespread indecision and a market unable to create a strong trend in either direction.According to Glassnode, the True Market Mean resides at a Bitcoin value of $50,000, which represents the average cost basis per active investor. This level remains a key pricing level for the market to remain above if the macro bull market is expected to continue.This article was originally published on U.Today More

This surge aligns with the latest U.S. jobs report, which indicated an unexpected rise in the unemployment rate, with non-farm payrolls increasing by 206,000 for the month. This figure surpassed the Dow Jones forecast of 200,000 but fell short of the downwardly revised gain of 218,000 in May.While policymakers want to see more progress on inflation before decreasing interest rates, a deteriorating labor market may enhance the need to act quickly.Following Friday’s jobs report, traders increased their bets on a September interest rate decrease, with odds of a quarter-point cut rising to approximately 75%, up from 64% a week ago, according to the CME Group’s FedWatch tool.Fed Chairman Jerome Powell recently stated that progress had been made in lowering inflation. Still, the central bank wanted to be more sure it was returning to its 2% target before relaxing monetary policy. New inflation data is due next week.At the time of writing, Bitcoin was up 1.96% in the last 24 hours to $56,697, according to data from crypto ranking site CoinMarketCap. BTC surged to an all-time high of about $74,000 in March this year, following the approval of the first U.S. spot Bitcoin ETF, however, it has since been trading within a tight range.Dogecoin rallied substantially from its lows of $0.0915 on Friday and continues to do so in Saturday’s trading session. At the time of writing, Dogecoin had risen 9.60% in the last 24 hours to $0.1094.XRP was up 5% in the last 24 hours to $0.435, while Cardano’s ADA coin was up 2.29% to $0.356.This article was originally published on U.Today More

As per CoinMarketCap data, Bitcoin is currently up by 3.73% to $56,536.78 in the last 24 hours. This significant rise comes after the digital asset plummeted to as low as $53,900. Analysts had attributed this to the German Government’s transfer of 1,300 BTC to Bitstamp, Kraken and Coinbase (NASDAQ:COIN). The BTC transferred recently was worth approximately $75.53 million.According to Schiff’s latest analysis, it will take a larger drop in the price of Bitcoin for whales to surrender and begin dumping the asset. If the Bitcoin ETF holders hit the sell button, this will further drive down the price of BTC.Schiff is projecting that such a scenario is likely next week. Notably, the Bitcoin critic is basing his projections on a huge sell-off this weekend.These analysts maintain that Schiff tilts toward bearish extremes because he is not a fan of the digital asset.Meanwhile, Schiff has issued a critical warning to investors of Bitcoin ETF, noting that given its poor showing in the second quarter of this year compared to gold, the digital asset is likely to suffer more losses.This article was originally published on U.Today More

Now, the value of Bitcoin held in it has skyrocketed by almost 8,000%, making its owner a millionaire. This was the fourth dormant BTC wallet that had awakened over the past week.While this wallet bought these coins back in 2013 and 2014 at an average price of $731 and back then this crypto was worth $737,000, by now, it has staged a whopping 7,634% price increase and is valued at a staggering $56,924,352.Chinese cryptocurrency journalist and blogger Colin Wu has reported that this dormant whale has transferred all his crypto to a new wallet by now. Earlier this week, three other dormant wallets came back to life holding a lot of Bitcoin — $1.14 million, $2.6 million, $6.9 million in the Bitcoin equivalent.The price increase took place despite the U.S. and German governments continuing to dump massive chunks of Bitcoin on the market, and they have now been joined by Mt. Gox. The early and non-functional for the past 10 years crypto exchange has finally started paying the Bitcoin and Bitcoin Cash it owns to its investors and traders.Still, a positive non-farm payroll report came out for June on Friday, showing a rise in employment, and this allowed Bitcoin to regain some of its recent losses.This article was originally published on U.Today More