Chain News by Thebittimes.Com

Non-fungible token (NFT) sales over the last seven days are ending the year 13.97% lower than the week prior. During the last week, statistics show that $147,054,554 in NFT sales were recorded across 334,668 NFT buyers. NFT Sales Continue to Slip: 13.97% Decrease in Last Seven Days NFT sales are down this week, 13.97% lower than last week according to cryptoslam.io metrics. 2022 hasn’t been a good year for NFTs as sales and NFT values have slid dramatically over the last 12 months. Out of the $147.05 million in NFT sales this past week, NFTs that derived from Ethereum (ETH) represented $113.86 million of the aggregate sold in seven days. However, ETH-based NFT sales slipped by 20.4% during the past week. Seven-day sales according to cryptoslam.io stats on Dec. 31, 2022. Solana NFT sales jumped 91.36% higher this week as the chain saw $23.64 million in seven-day sales. While Solana’s increase was large, Waves-based NFT sales increased by 302.59% but only sold $7,609 wor...

Amidst an increasingly volatile market, Bitcoin Magazine has noted that addresses holding 1 full BTC has hit an all-time high of over 970,000. Smaller wallet addresses within the Bitcoin Ecosystem are continuing to take advantage of a steady decrease in price over the course of the year. The most well-known cryptocurrency in the world is ending 2022 at levels unseen in two years. Subsequently, starting Q4 down 15%, and down over 60% year to date, the market conditions have seemed to provide a unique opportunity for smaller addresses. JUST IN: Number of addresses holding 1 full #Bitcoin just hit an ATH of over 970,000 🙌 — Bitcoin Magazine (@BitcoinMagazine) December 30, 2022 Address with 1 BTC Continues Rise The rise in Bitcoin addresses holding 1 full BTC has officially hit an all-time high of over 970,000. Yet, that number has been steadily increasing, surpassing the previous all-time high of 950,000 sets just one month ago. The development adds to ...

Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022 indicate that two mining pools command more than 50% of the global hashrate. 2 Mining Entities Currently Produce More Than 50% of the Global Hashrate, Bitcoin Mining Difficulty Expected to Decline Significantly in 5 Days The computational processing power behind the Bitcoin (BTC) network ramped up to the 300 EH/s range on the evening of Dec. 28, 2022. Three days before the rise, BTC’s hashrate slid to a low of 170 EH/s on Dec. 28, 2022, when bitcoin miners from Texas curtailed their hashpower to relieve the grid from any excess load. Most of the SHA256 hashpower returned the same day, as Bitcoin.com News reported on it climbing back to 240 EH/s by 12:00 p.m. (ET). Followi...

Join Our Telegram channel to stay up to date on breaking news coverage Best-selling online collectibles creators have reacted to a decline in the value of cryptocurrencies and digital assets by looking for other sources of income, such as utilizing cartoons to market tangible goods and establish entertainment franchises. Last year, when individuals purchased animal collections like Bored Ape Yacht Club, Cool Cats, and Pudgy Penguins, digital objects known as non-fungible tokens exploded into popular culture. People spent billions of dollars purchasing NFTs from marketplaces like OpenSea, aided by celebrity endorsements and social media buzz. The market, however, has fallen precipitously since April as a result of a sell-off in the larger cryptocurrency market, which has been shaken by a number of high-profile scandals, including the demise of the cryptocurrency exchange FTX and the TerraUSD stablecoin in May. The majority of this year’s $36 billion in sales—more tha...

The Argentine senate is discussing a preliminary project that would regulate the way in which individuals and organizations promote crypto. The objective of the project, which is still under discussion, would be to educate consumers on the dangers of investing in crypto and also to protect them from investing in crypto Ponzi schemes. Argentine Senate Gets Into Crypto Advertisement Regulation More and more countries are taking action to avoid the diffusion of cryptocurrency scams through advertising channels. Argentina, one of the countries in Latam where cryptocurrency adoption has been growing, has begun to mull the establishment of crypto-related advertisement laws. The discussion, which is being promoted by Senator Eduardo Andrada and others, would put its focus on educating potential users of cryptocurrency about the particularities of these assets. In the same way, another of the objectives of this potential project would be to protect investors from falling into fake and Ponzi...

Gerolamo Cardano , an Italian polymath, was the inspiration for the creation of Cardano , which debuted in 2017. Cardano creator Charles Hoskinson has revealed details of the Alonzo hard fork in August 2021. Cardano ’s price increased by 116% the following month as a result of this announcement. The presentation of the Vasil hard fork, like the Ethereum merge, was one of the team’s most eagerly anticipated updates. Despite some difficulties along the way, the hard fork was also a successful event. ADA was fairly volatile in the past few days.  Cardano is trading at $0.2614 during press time and is down 17.8% in the last 30 days and 33.85% in the last 60 days, according to CoinMarketCap. Cardano ADA price January 2023: Prediction As the whole cryptocurrency market is grappling with a prolonged bear market, the prices of cryptocurrencies are not in their best shape. According to the analysts at Changelly, an Analysis of previous years concludes that the p...

Join Our Telegram channel to stay up to date on breaking news coverage Following the FTX collapse, proof of reserves has been a hot topic, with the investor community demanding that exchanges give certifications of their cryptocurrency holdings. But what are they exactly, and why are they important? Proof of reserves (PoR) is a technique for confirming that a trading platform or cryptocurrency company actually has 1:1 backing across the digital assets it is keeping in custody on behalf of its clients. A third-party organization is frequently used by businesses to carry out the attestation. To help investors understand a centralized exchange’s financial situation and whether they have adequate funds to match customer deposits, they publish the results with some caveats (which will be explained in more detail below). Since the trend started, a huge variety of attestations have been performed, some of which provide a corporation more credibility than others. Proof of Rese...

According to on-chain data research, the current state of the Bitcoin market is one of the least volatile in its history. Late in 2018, volatility last plummeted to levels comparable to today. The price of cryptocurrencies fell steadily throughout the year, just like it has done recently. Therefore, Bitcoin price prediction stays neutral during the Asian session on December 26. Similarly, Ethereum has stayed relatively stable at $1,220.  On December 26, major cryptocurrencies traded mixed after the global crypto market cap grew marginally by 0.10% to $812.31 billion on the previous day. The entire cryptocurrency market volume in the last 24 hours is $22.98 billion, a 34.28% decline. The overall volume in DeFi is currently $1.55 billion, accounting for 7.04% of the entire 24-hour volume in the crypto market.  The total volume of all stablecoins is now $20.01 billion, accounting for 91.07% of the total 24-hour volume of the crypto market. Let's take a quick l...

Join Our Telegram channel to stay up to date on breaking news coverage The Dash price prediction begins a decent recovery wave above $43 as the coin approaches a major hurdle near $45. Dash Prediction Statistics Data: Dash price now – $43.88 Dash market cap – $485.1 million Dash circulating supply – 11 million Dash total supply – 11 billion Dash Coinmarketcap ranking – #67 DASH/USD Market Key Levels: Resistance levels: $55, $60, $65 Support levels: $35, $30, $25 DASHUSD – Daily Chart DASH/USD is in the hands of the bulls as the coin crosses above the 9-day moving average. However, due to a lack of buying power, the bulls may need to gather enough energy to push the coin toward the upper boundary of the channel. The technical indicator Relative Strength Index (14) is crossing above the 50-level with the signal line pointing to the east, suggesting sideways movement. Dash Price Prediction: Dash May Spike to the Upside Looking at t...

Seychelles-based crypto exchange OKX published its second proof of reserves (PoR) on Thursday, showing that user assets for the top 3 cryptocurrencies are fully backed.  The exchange promised to publish subsequent PoR reports on roughly the 22nd day of each month from today onwards.  Committing to PoR In a press release from OKX, the company provided a new tool allowing users to self-verify its reserves using open-source tools.  The tool lets anyone examine the results of OKX’s proof of reserves audits at different points in time. As of its first audit on November 22nd, the exchange’s Bitcoin and Ethereum (ETH) reserves reportedly provided 102% backing on user assets, while Tether (USDT) deposits were 101% backed. KYC & Audit Solutions! SolidProof The firm’s most recent audit on December 20th shows that users’ BTC, ETH, and USDT were backed 101%, 103%, and 101% respectively. In absolute terms, that’s 108,434 BTC, 1,051,028 ETH, and 3,061,068,937 USDT in ...

Authorities in Italy and Albania have hit a fraud scheme enticing victims with promises of low-risk investments in cryptocurrencies. During an operation coordinated by Eurojust, investigators from the two countries searched a dozen locations and seized assets and computer equipment. Fraudsters Contacted Investors From a Call Center in Tirana, Albania Law enforcement officers in Italy and Albania have taken down an online fraud scheme offering fake investment opportunities related to cryptocurrencies. The investigation was carried out with the support of Eurojust, the EU agency responsible for judicial cooperation in Europe. Authorities participating in the joint operation have seized €3 million (almost $3.2 million) worth of assets from the crime group that organized the scam. The total losses resulting from its activities have been estimated at €15 million (over $15.9 million), Eurojust detailed in a press release. The perpetrators operated a call center in the Albanian capital T...

Bitcoin has never seen this particular "death cross" before in its life, one analyst notes as BTC price weakness continues. Bitcoin (BTC) fell at the Dec. 22 Wall Street open as United States equities reversed previous gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin risks new and unseen "death cross Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to intraday lows of $16,650 on Bitstamp. The pair remained a conspicuous stocks copycat as the S&P 500 opened down 1.6% and the Nasdaq Composite Index traded down 1.8% at the time of writing. The weakness appeared to be a reaction to stronger-than-expected U.S. gross domestic product (GDP) growth in Q3, data for which was released prior to the open. Despite notionally a sign of recovery, concerns focused on the Federal Reserve continuing its restrictive economic policy on the assumption that the economy would be able to withstand the measures. This would notionally come ...