09-JAN-2021

2 weeks ago

An Ethereum-based CryptoPunk Artwork Just Sold for $176,000 – via Decrypt
Owning a pixelated avatar of a knitted cap-wearing ape is a status symbol, argues the user who paid thousands for it. A pseudonymous user called “gmoney” paid 140 Ethereum (ETH) for a pixelated CryptoPunk (CP) avatar on Wednesday. At the time of purchase, the non-fungible token was worth $150,000—and its value has increased to more than $176,000 already. But it wasn’t about making a profit, gmoney explained.

2 weeks ago

Legendary House DJ Carl Cox Tokenizes New Music on Ethereum – via CryptoBriefing
Carl Cox joins a growing list of musicians to release an NFT on Ethereum. Dropping as part of crypto art show Future Art, the collection will feature exclusive music from Cox. The drop will be unveiled as part of crypto art show Future Art. The British DJ is the latest musician to jump on the NFT bandwagon as the space grows.

2 weeks ago

Crypto-Stealing Malware Targets At Least 6.5K Victims – via CryptoNews
The ElectroRAT malware has been attempting to steal cryptoassets, including bitcoin (BTC), litecoin (LTC), ethereum (ETH), and monero (XMR), among others, from thousands of victims for the past year, according to a researcher at the New York-based cybersecurity company Intezer Labs. Intezer estimates the campaign has infected thousands of victims, “based on the number of unique visitors to the pastebin pages used to locate the command and control servers.” As of early January 2021, the user’s pastes have attracted close to 6,500 unique users, according to data obtained by the cybersecurity firm.

2 weeks ago

This Crypto Exchange Is Putting the Brakes on FOMO Demand – via Decrypt
Crypto and stock trading platform eToro has temporarily upped the minimum deposit amount for new users to $1,000 to handle a deluge of amateur crypto investors. The price of Bitcoin has gone from $30,000 to $40,000 in one week. Several exchanges, including eToro, had trouble handling high trading demand. eToro has temporarily instituted higher minimum investments for new users as a result.

2 weeks ago

Ethereum Forming Extremely Bullish Pattern as Bulls Target New Highs – via NEWSBTC
Ethereum has been struggling to gain any immense momentum as it navigated towards the mid-$1,200 region, with the selling pressure here proving to be significant. Each move towards $1,300 has sparked rejections, and its price has been moving in close tandem with Bitcoin’s. One analyst believes that the crypto is on the cusp of making a serious push higher. He notes that ETH’s macro-outlook is incredibly bullish, with his first price targets resting within the lower-$2,000 region.

2 weeks ago

Bitcoin Just Traded a Record-Smashing $99 Billion in One Day – via Decrypt
Bitcoin’s daily trading volume hit an all-time high, just as Bitcoin’s price hit its own all-time high. Bitcoin today hit $99 billion in trading volume, an all-time high, according to metrics site CoinMarketCap. Traders shook hands on $99.3 billion worth of Bitcoin deals in the past 24 hours, the site records. The all-time high in daily trading volume coincided with yet another all-time high for Bitcoin’s price, which this afternoon peaked at $41,941.

2 weeks ago

US Treasury Department Lacks Power to Pass FinCEN Bill – via CryptoNews
The controversial draft anti-money laundering/know-your-customer (AML/KYC) crypto compliance regulations proposed by the US Treasury Department and the Financial Crimes Enforcement Network (FinCEN) is continuing to draw criticism from critics, who claim the agency is acting out of its remit in its bid to regulate the sector. The crypto advocacy group Coin Center has published a second open letter to the agency. The new correspondence accuses the regulator of creating further chaos and disregarding public feedback.

2 weeks ago

Bank of America: Bitcoin Bull Run Is the ‘Mother of All Bubbles’ – via Decrypt
A senior analyst at Bank of America thinks that Bitcoin’s latest bull run “blows the doors off prior bubbles.” Bank of America’s chief investment strategist has termed Bitcoin’s latest bull run the “mother of all bubbles,” claiming that it “blows the doors off prior bubbles,” such as the dotcom bubble of the early 2000s. Michael Hartnett warned investors in his “Flow Show” of the “violent inflationary price” that has surged the price of Bitcoin and stoked the equities market.

2 weeks ago

Bitcoin Options Hit $10 Billion in Open Interest – via Decrypt
Bitcoin options open interest is booming as the crypto market continues to set new records almost daily. The total open interest (OI) across Bitcoin (BTC) options markets has reached over $10 billion today, as highlighted by market insights platform Unfolded. Open interest is the total number of currently outstanding derivative contracts—such as options and futures—that have not been settled yet. Options are contracts that give buyers the right—but not the obligation—to purchase assets at a specified price on a set date in the future, for which they pay sellers a “premium.”

2 weeks ago

Bitcoin Mining Difficulty Set to Hit a New Peak, as Price & Hashrate Hit Theirs – via CryptoNews
At the time bitcoin (BTC) price is breaking all-time highs, the mining difficulty is set to break its record tomorrow, while the hashrate has already surpassed its own. Both buying and mining BTC has been getting tougher. Per the BTC.com, a major mining pool, estimates, mining may become the most difficult it’s ever been in just a day from now. Bitcoin mining difficulty, or the measure of how hard it is to compete for mining rewards, is expected to climb to 20.58 T, whereas the previous peak was 20 T reached in mid-October 2020.

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