Bitcoin and Gold Contenders to Outperform as Fiat Currencies Devalue
According to Bloomberg Intelligence, the outlook for the rest of the decade favors assets such as Bitcoin and gold. Strategists compared the two to the rest of the commodity market as the end is in sight for the Federal Reserve’s aggressive tightening. Assets such as Bitcoin and gold could be the beneficiaries according to analysts.
A cost of living crisis means that all but the very wealthy have less money to spend on investments such as crypto or gold. However, when the world finally emerges from this recession, they could be the go-to investments. The more volatile BTC has lost 57% since the beginning of the year, but gold is also down 11% in the same period. Zooming out to a longer-term two-year picture shows that BTC is up 87% whereas gold has lost almost 13%. Another factor to consider is the current currency conundrum as fiat currencies lose their value.
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According to Bloomberg Intelligence, the outlook for the rest of the decade favors assets such as Bitcoin and gold. Strategists compared the two to the rest of the commodity market as the end is in sight for the Federal Reserve’s aggressive tightening. Assets such as Bitcoin and gold could be the beneficiaries according to analysts.
A cost of living crisis means that all but the very wealthy have less money to spend on investments such as crypto or gold. However, when the world finally emerges from this recession, they could be the go-to investments. The more volatile BTC has lost 57% since the beginning of the year, but gold is also down 11% in the same period. Zooming out to a longer-term two-year picture shows that BTC is up 87% whereas gold has lost almost 13%. Another factor to consider is the current currency conundrum as fiat currencies lose their value.
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🟠 Binance has shown its support for the Ethereum Proof-of-Work (ETHW) hard fork by rolling out a mining pool.
The world’s largest crypto exchange by trading volume took to Twitter and announced its latest initiative. Binance even decided to give all its ETHW Pool users zero pool fees on ETHW mining.
It should be noted that the zero pool fees offer would be in place only for a month till 29th October. Following the promotion period, this offer would end.
The world’s largest crypto exchange by trading volume took to Twitter and announced its latest initiative. Binance even decided to give all its ETHW Pool users zero pool fees on ETHW mining.
It should be noted that the zero pool fees offer would be in place only for a month till 29th October. Following the promotion period, this offer would end.
The Solana network is experiencing an outage and not processing transactions. Developers across the ecosystem are working on diagnosing the issue and to restart the network. More information will be provided as it becomes available.
Source : Click
Source : Click
Net Bitcoin ATMs growth drops globally for the first time ever
Data on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network. 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.
Data on net changes of crypto ATM installations confirm that, in September, 796 crypto ATMs were pulled off from the global network. 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.
Binance founder Changpeng ‘CZ’ Zhao shares his vision of web3 opportunities at TC Sessions: Crypto
The leader, commonly known as “CZ,” has managed to cultivate a celebrity status in the crypto space rivaled only by some of the space’s patron saints, including the pseudonymous Satoshi Nakamoto and Ethereum founder Vitalik Buterin. Zhao is worth an estimated $65 billion. At the forefront of these changes is Binance founder and CEO Changpeng Zhao.
The leader, commonly known as “CZ,” has managed to cultivate a celebrity status in the crypto space rivaled only by some of the space’s patron saints, including the pseudonymous Satoshi Nakamoto and Ethereum founder Vitalik Buterin. Zhao is worth an estimated $65 billion. At the forefront of these changes is Binance founder and CEO Changpeng Zhao.
Global Bitcoin adoption
1. Vietnam 🇻🇳
2. Philippines 🇵🇭
3. Ukraine 🇺🇦
4. India 🇮🇳
5. U.S 🇺🇸
6. Pakistan 🇵🇰
7. Brazil 🇧🇷
8. Thailand 🇹🇭
9. Russia 🇷🇺
10. China 🇨🇳
11. Nigeria 🇳🇬
12. Turkey 🇹🇷
13. Argentina 🇦🇷
14. Morocco 🇲🇦
15. Colombia 🇨🇴
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1. Vietnam 🇻🇳
2. Philippines 🇵🇭
3. Ukraine 🇺🇦
4. India 🇮🇳
5. U.S 🇺🇸
6. Pakistan 🇵🇰
7. Brazil 🇧🇷
8. Thailand 🇹🇭
9. Russia 🇷🇺
10. China 🇨🇳
11. Nigeria 🇳🇬
12. Turkey 🇹🇷
13. Argentina 🇦🇷
14. Morocco 🇲🇦
15. Colombia 🇨🇴
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💰 Bitcoin Pushes $20K as BTC Supply on Exchanges Lowest Since November 2018
Bitcoin’s price is currently testing $20K as the number of BTC on exchanges hits its lowest level since November 2018. A bullish revival was observed in Bitcoin’s price as the third quarter drew to a close, as data suggests a significant uptick in the outflows of tokens from crypto exchanges and into personal wallets. Exchange outflows are typically perceived as bullish for prices since it demonstrates market players having long-term convictions in the asset instead of offloading them in the near term. According to the crypto-analytic platform Santiment, Bitcoin continues to see its supply rapidly moving away from exchanges. This essentially indicated that traders are showing further signs of “being content with their current holdings.”. As per Santiment’s data, the most recent steep fall in Bitcoin balances occurred between September 29 and October 1.
Bitcoin’s price is currently testing $20K as the number of BTC on exchanges hits its lowest level since November 2018. A bullish revival was observed in Bitcoin’s price as the third quarter drew to a close, as data suggests a significant uptick in the outflows of tokens from crypto exchanges and into personal wallets. Exchange outflows are typically perceived as bullish for prices since it demonstrates market players having long-term convictions in the asset instead of offloading them in the near term. According to the crypto-analytic platform Santiment, Bitcoin continues to see its supply rapidly moving away from exchanges. This essentially indicated that traders are showing further signs of “being content with their current holdings.”. As per Santiment’s data, the most recent steep fall in Bitcoin balances occurred between September 29 and October 1.
🚛 Celsius Co-Founder Steps Down Mere Days After CEO Tenders Resignation
Alex Mashinsky formally resigned from his position as CEO of the now-bankrupt crypto asset management firm Celsius. His resignation was taken into consideration effective immediately, although he remained director of the company, stating that the move would allow him to focus on guiding the Celsius community out of the difficult situation they found themselves in. Last month, Leon had already filed a motion declaring his share of Celsius stocks worthless as a part of his case in U.S. Bankruptcy Court. According to the document, Leon was in possession of 32,600 common shares at the time the motion was filed.
Alex Mashinsky formally resigned from his position as CEO of the now-bankrupt crypto asset management firm Celsius. His resignation was taken into consideration effective immediately, although he remained director of the company, stating that the move would allow him to focus on guiding the Celsius community out of the difficult situation they found themselves in. Last month, Leon had already filed a motion declaring his share of Celsius stocks worthless as a part of his case in U.S. Bankruptcy Court. According to the document, Leon was in possession of 32,600 common shares at the time the motion was filed.
Binance confirms BNB cross-chain bridge hack
UPDATE (8:10 p.m. ET): Binance CEO Changpeng Zhao has confirmed the occurrence of a cross-chain bridge exploit and shared details about the incident.
"An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC," Zhao wrote on Twitter. "The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly."
Zhao went on to explain that "the current impact estimate is around $100m USD equvilent sic, about a quarter of the last BNB burn."
_Original report:_
Binance said it would halt deposits and withdrawals via the BNB Smart Chain amid growing concerns over a hack of the network's official cross-chain bridge.
Word emerged earlier Thursday evening that more than $400 million worth of BNB tokens were transferred from the Smart Chain token hub to a new address. According to data from DeBank, the address in question holds more than $500 million worth of crypto, with holdings in ETH, MATIC and FTM, among others.
Amid the speculation about the exact nature of the transaction, the BNB Smart Chain was stopped. In a tweet, Binance said that the network is "is currently under maintenance."
"We will suspend all deposits and withdrawals via BNB chain temporarily until there are further updates," the exchange said.
The official Twitter account for the BNB Smart Chain cited "irregular activity" as the reason behind the stoppage.
UPDATE (8:10 p.m. ET): Binance CEO Changpeng Zhao has confirmed the occurrence of a cross-chain bridge exploit and shared details about the incident.
"An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC," Zhao wrote on Twitter. "The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly."
Zhao went on to explain that "the current impact estimate is around $100m USD equvilent sic, about a quarter of the last BNB burn."
_Original report:_
Binance said it would halt deposits and withdrawals via the BNB Smart Chain amid growing concerns over a hack of the network's official cross-chain bridge.
Word emerged earlier Thursday evening that more than $400 million worth of BNB tokens were transferred from the Smart Chain token hub to a new address. According to data from DeBank, the address in question holds more than $500 million worth of crypto, with holdings in ETH, MATIC and FTM, among others.
Amid the speculation about the exact nature of the transaction, the BNB Smart Chain was stopped. In a tweet, Binance said that the network is "is currently under maintenance."
"We will suspend all deposits and withdrawals via BNB chain temporarily until there are further updates," the exchange said.
The official Twitter account for the BNB Smart Chain cited "irregular activity" as the reason behind the stoppage.
Binance CEO says there's pain and risk in the bear market, but also opportunity: Bloomberg
Binance could spend over $1 billion on investment deals by the end of the year.Despite the market downturn, the exchange could spend a significant amount of cash on investments in the next three months, exchange CEO Changpeng Zhao told Bloomberg in an interview. Beyond these investments, Binance has made investments in 67 projects, with a total investment of $325 million. Binance's VC arm has invested in various projects, including multiple investment in Aptos, the company founded by ex-Meta employees. When asked about acquiring crypto lenders, Zhao said: “Many of them, they just take a user’s money and give it to somebody else.
Binance could spend over $1 billion on investment deals by the end of the year.Despite the market downturn, the exchange could spend a significant amount of cash on investments in the next three months, exchange CEO Changpeng Zhao told Bloomberg in an interview. Beyond these investments, Binance has made investments in 67 projects, with a total investment of $325 million. Binance's VC arm has invested in various projects, including multiple investment in Aptos, the company founded by ex-Meta employees. When asked about acquiring crypto lenders, Zhao said: “Many of them, they just take a user’s money and give it to somebody else.
Huobi Founder Sells Bitcoin Exchange to Hong Kong Investment Firm
According to the post, an agreement has been reached between both parties that will leave “no impact on Huobi’s core operation and business management teams.” . Leon Li Lin, the Chinese founder of Seychelles-based crypto exchange Huobi Global, is selling his controlling stake to a Hong Kong investment firm. About Capital says in Huobi's blog post that under its control, Huobi “will embrace a series of new international brand promotion and business expansion initiatives including a global strategic advisory board led by leading industry figures, the injection of sufficient capital in margin and risk provision fund, as well as measures to further enhance competitiveness.” .
According to the post, an agreement has been reached between both parties that will leave “no impact on Huobi’s core operation and business management teams.” . Leon Li Lin, the Chinese founder of Seychelles-based crypto exchange Huobi Global, is selling his controlling stake to a Hong Kong investment firm. About Capital says in Huobi's blog post that under its control, Huobi “will embrace a series of new international brand promotion and business expansion initiatives including a global strategic advisory board led by leading industry figures, the injection of sufficient capital in margin and risk provision fund, as well as measures to further enhance competitiveness.” .
Bitcoin mining difficulty adjusts over 13%, the highest since May 2021
The Bitcoin network has reached its all-time high in terms of hash rate, surpassing most projections. The network’s total hash rate currently stands at 240 EH/s and is expected to increase even further. Currently standing at 35 trillion, the mining difficulty will severely strain already stressed Bitcoin miners, further decreasing their revenue. The current hash rate represents a 3x increase from the network’s lows in July 2021 when a government ban triggered a miner exodus from China. The hash rate then dropped to a two-year low of around 89 EH/s. The increase in hash rate follows an equally sharp rise in mining difficulty. On Monday, Oct. 10, Bitcoin mining difficulty saw its sharpest adjustment this year, increasing by 13%.
The Bitcoin network has reached its all-time high in terms of hash rate, surpassing most projections. The network’s total hash rate currently stands at 240 EH/s and is expected to increase even further. Currently standing at 35 trillion, the mining difficulty will severely strain already stressed Bitcoin miners, further decreasing their revenue. The current hash rate represents a 3x increase from the network’s lows in July 2021 when a government ban triggered a miner exodus from China. The hash rate then dropped to a two-year low of around 89 EH/s. The increase in hash rate follows an equally sharp rise in mining difficulty. On Monday, Oct. 10, Bitcoin mining difficulty saw its sharpest adjustment this year, increasing by 13%.
🔴 JUST IN: #Solana DeFi platform Mango has been hacked with over $100 million reportedly stolen.
Today, Tether announced that it has eliminated commercial paper from its reserves, replacing these investments with U.S. Treasury Bills (T-Bills). This announcement comes as part of Tether’s ongoing efforts to increase transparency, with investor protection at the core of the management of Tethers’ reserves. Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market. This is a step towards even greater transparency and trust, not only for Tether but for the entire stablecoin industry.
💰 Huobi allegedly transfers 74M tokens to Justin Sun, HT up 7.7%
Tron founder Justin Sun has reportedly received 74 million HT tokens from Huobi’s official wallets. On Oct. 14, Sun told Bloomberg News that he owns “tens of millions of Huobi tokens. He confirmed to be one of the biggest holders of the HT tokens. Shortly after the Bloomberg report, WuBlockchain revealed that Huobi’s official wallets transferred 74 million to wallets linked to the Tron founder. On Oct. 13, Justin Sun’s Poloniex exchange interacted with two of Huobi’s wallets that transferred 32 million and 42 million HT tokens to two new addresses. WuBlockchain alleged that the transferred tokens may be linked to Huobi’s acquisition deal, which Justin Sun allegedly facilitated.
Tron founder Justin Sun has reportedly received 74 million HT tokens from Huobi’s official wallets. On Oct. 14, Sun told Bloomberg News that he owns “tens of millions of Huobi tokens. He confirmed to be one of the biggest holders of the HT tokens. Shortly after the Bloomberg report, WuBlockchain revealed that Huobi’s official wallets transferred 74 million to wallets linked to the Tron founder. On Oct. 13, Justin Sun’s Poloniex exchange interacted with two of Huobi’s wallets that transferred 32 million and 42 million HT tokens to two new addresses. WuBlockchain alleged that the transferred tokens may be linked to Huobi’s acquisition deal, which Justin Sun allegedly facilitated.
📶 After the initial supply of 200,000,000 #BNB, the amount of coins in circulation gradually decreased through quarterly and BEP-95 burns.
The burn event will occur until 50% of the total supply is exhausted to reach the BNB burn target of 100,000,000.
The burn event will occur until 50% of the total supply is exhausted to reach the BNB burn target of 100,000,000.