Cryptocurrency

However, the whale decided to sell after months of hodling, thinking to stop more losses. Thus, the whale lost over $5.24 million after depositing 4,274 ETH worth over $6.85 million to some hours ago. Depositing assets on an exchange usually indicates a desire to sell.The whale’s timing to sell coincided with a sharp spike in the ETH price in the last 24 hours, so it turned out to be wrong overall. The whale would have been able to minimize the losses by benefiting from the price increase.saw a sharp spike on Oct. 20 from a low of $1,582 to a high of $1,632. ETH sustained the rise and remained in green at press time to trade at $1,606.The whale had been bearish on ETH, given the profit-taking earlier in the week after approval of the Bitcoin spot ETF was confirmed to be false. The whale had anticipated the profit-taking to continue and hence was caught unawares by the sudden recovery in price.Barring the 24-hour price increase, the whale panicked and ended up selling his ETH holding at a lower price than when he bought it, resulting in a loss.The aforementioned ETH holder also made other mistakes that resulted in losses. According to Lookonchain, the ETH whale panicked and exchanged 3,705 stETH for 3,536 ETH, resulting in a loss of 169 ETH.Dormant ETH tokens have shifted in the last 24 hours. According to a PeckShield alert, a dormant ETH ICO participant who had been inactive for eight years moved over 2,000 ETH out.In progress updates as regards Ethereum ETF, Invesco US and Galaxy have now filed their 19b-4 via CBOE for their spot Ethereum ETF. According to Bloomberg analyst , the final deadline is undetermined, although it is expected to be around the first week of July.This article was originally published on U.Today More

According to a statement from the CEO, this process forms an integral component of the firm’s strategy for fundraising and reorganizing its debts. In anticipation of the firm’s upcoming app relaunch and in preparation for its fundraising initiative, it is affording its users the opportunity to transform their debt tokens into convertible notes at a favorable discount in Patricia.Continue Reading on Cointelegraph More

In a tweet, Buterin clarified the nature of the transactions, asserting that any reports indicating his personal selling of were misleading. He clarified that these transfers were primarily charitable donations made to organizations and projects, necessitating liquidation to cover operational expenses.The Ethereum founder’s message comes in response to growing confusion within the cryptocurrency community regarding the nature of these transfers. Many perceived them as sell-offs, which led to bearish sentiments on the market.A notable example emerged recently when Kanro, a charity closely affiliated with Vitalik Buterin, made substantial transfers of approximately 15.43 million USDC. Out of this total, 500,000 USDC found its way to Coinbase (NASDAQ:COIN) on Oct. 14, while a substantial 14.93 million USDC was sent to Gemini on Oct. 16.Buterin had previously introduced Kanro on June 9, 2023, highlighting that it primarily receives funding from Crypto Relief, led by the Polygon founder and himself. Kanro’s mission revolves around researching global solutions for the pandemic and potential future epidemics.Despite Buterin’s attempts to clarify the situation, the enigmatic nature of his recent activities continues to raise eyebrows. While some questions have been answered, a lingering air of mystery surrounds his transactions, leaving many intrigued. As the crypto world speculates about motives, it seems there might be more to this story than meets the eye.This article was originally published on U.Today More

The sentiment on traditional financial markets often has a ripple effect on the crypto market. When traditional markets are expected to perform well or show stability, institutional investors are sometimes more inclined to diversify their portfolios and explore riskier assets, such as . Powell’s indication of a potential pause in interest rate hikes can be seen as a stabilizing factor for traditional markets. If these markets respond positively, we might witness an inflow of funds into the crypto sector as a diversification strategy.With Powell’s suggestion of maintaining current interest rates, there is a possibility of a lower yield on traditional financial instruments. This could bolster attractiveness as a store of value, prompting both retail and institutional investors to allocate more funds into Bitcoin.The decentralized finance (DeFi) sector within the crypto ecosystem is particularly sensitive to interest rate changes. DeFi platforms offer yield farming and staking opportunities that can sometimes provide returns far exceeding traditional instruments. If the Fed holds interest rates steady, the yield disparity between traditional financial products and DeFi could widen.The broader uncertainty surrounding global economic conditions, inflation rates and central bank policies often acts as a catalyst for investors to diversify their portfolios. Cryptocurrencies, being noncorrelated assets, serve as a natural choice for portfolio diversification.This article was originally published on U.Today More

Sunil’s X post highlights the ever-evolving tactics online scammers employ.Continue Reading on Cointelegraph More

Random numbers are of great importance in a number of applications, including games, security systems, decentralized autonomous organization (DAO) governance, and nonfungible token (NFT) generation. If your game cannot access randomly generated numbers, your starts will become repetitive and stale. If your security system relies on easily guessed authentication codes, it isn’t providing much security. If any system that needs variety isn’t getting it, it won’t be very effective. Continue Reading on Cointelegraph More

A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets but will serve as a warning to counterparties and exchanges that the wallets were involved in a hack. In addition, iSanctuary claimed it has devised a means of tracking funds leaving the wallets, thanks to the NFTs. The NFTs will be permanently attached to the wallets.Continue Reading on Cointelegraph More

In its announcement, Base claims the program is necessary because most software developers still do not know how to build Web3 apps. “Today, there are fewer than 30,000 onchain developers,” it states, “compared to nearly 30 million software developers.” This implies that only 0.1% of software developers work in Web3.Continue Reading on Cointelegraph More