A YouTuber has lost $60K worth of crypto assets after accidentally displaying his seed phrase on a stream. The mistake led to a security breach that resulted in the unauthorised transfer of funds.
After peaking at $43k, Bitcoin has lost $1k in a week as Grayscale redeemed $800m worth of BTC. Solana quickly retraced 4% in the same period, continuing a volatile period for the cryptocurrency markets.
Bitcoin Cash saw a jump of 17% on Tuesday, after Grayscale Investments won its case against the US Securities and Exchange Commission (SEC) over their Bitcoin ETF application.
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Ethereum’s price has surged to a record high of $1,700 but fundamental market metrics indicate that this price rally is not backed by an increase in demand. Data shows that Ethereum’s price is increasing despite a decreasing hashrate and a diminishing number of active addresses.
The crypto community is joyous following an announcement by Grayscale Investments that it plans on making it easier to purchase digital coins. Despite the rejoicing, it remains uncertain what the true economic implications of the swap will be.
Matrixport has advised its clients to “long Bitcoin” with a tight stop loss in place, citing that this is the right approach to the current bear market in cryptocurrency.
Ripple has announced a huge update to its network which offers XRP holders the chance to earn passive income. The update will enable users to stake their XRP digital currency to issue and certify transactions on the decentralized XRP Ledger network.
Robinhood, the popular stock trading app, has been identified as the mysterious wallet holding over 170,000 Bitcoin, making it the third largest holder of the cryptocurrency. Research claims the wallet, worth more than $9 billion, has been active since mid-April 2020.
Prime Trust, a blockchain infrastructure provider, has lost $8M from an investment in the failed Terra stablecoin. CEO Aaron Brown said the affected funds were “allocated to the project as an upfront investment into its potential success”.