Cryptocurrency

Update (Dec. 30, 11:25pm UTC): This article has been updated to reflect that there are two trading days of Bitcoin ETF flow data to come in before 2024 ends. The United States spot Bitcoin and Ether exchange-traded funds (ETFs) have witnessed a staggering inflow tally of $38.3 billion in net inflows, with just two trading days left to the end of 2024. BlackRock's iShares Bitcoin Trust ETF Leads the Pack BlackRock's iShares Bitcoin Trust ETF (IBIT) has taken the top spot with an impressive $37.31 billion in net inflows. The Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) follow closely behind, with $11.84 billion and $2.49 billion in net inflows, respectively. Bitwise Bitcoin ETF Closes in on Top Three The Bitwise Bitcoin ETF (BITB) has secured a notable pos...

The world of cryptocurrency has witnessed a significant increase in hacking incidents in 2024. According to a report shared by onchain security firm Cyvers, hackers stole more than $2.3 billion worth of crypto from the Web3 ecosystem, surpassing the previous year's achievements. This concerning sign raises questions about the industry's mainstream acceptance. Sharp Uptick in Crypto Hacks The rise in cryptocurrency valuations after Bitcoin surpassed the $100,000 mark for the first time on December 6th drove a sharp uptick in hacking incidents. The appeal of increasing cryptocurrency valuations created an environment conducive to hacking activities. As a result, crypto hackers stole over $2.3 billion worth of assets across 165 incidents. 40% Increase Compared to 2023 The total annual funds l...

On December 3, 2024, an unexpected bug was discovered in one of Virtuals Protocol's audited smart contracts by pseudonymous security researcher Jinu. This led to a timely fix and the reactivation of their bug bounty program. Background on the Discovery Jinu contacted Virtuals Protocol after discovering the vulnerability in their contract. However, upon reporting the issue, Jinu learned that the company did not have an active bug bounty program, which meant the discovery would not qualify for a reward. According to Jinu, the Virtuals Protocol team also closed the Discord group created solely for reporting vulnerabilities. In an X thread, Jinu stated: "The vulnerability is simple and can impact the virtuals ecosystem (but virtuals probably doesn't care about security)." Jinu expl...

Market analysts predict that Ether (ETH) may surpass its previous all-time high during the first quarter of 2025. Despite Bitcoin's (BTC) record-breaking price surge to $100,000 on December 6, Ether has struggled to remain above the key $4,000 psychological threshold. Leverage Reduction Sets Stage for ETH Rally The recent crypto market deleveraging is a strong indication of a reset in leveraged long exposure. Bybit and Block Scholes' market report highlights that reduced leverage could set Ether up for a rally to a new all-time high during the first quarter of next year. Analysts Expect New All-Time High in Q1 2025 Bybit analysts told Cointelegraph that they expect "a new all-time high in Q1 2025." They added: "ETH shows strength in derivative markets as the price catch-up a...

According to the latest findings published in Cointelegraph Consulting’s biweekly newsletter, Ethereum (ETH) is showing promising signs of growth. The data suggests that Ether is on the verge of a significant increase in value. Ethereum's Transaction Volume Continues to Rise The number of Ethereum transactions processed daily on the blockchain has seen a substantial increase from an average of 3.85 million in July to 4.75 million in August. This marks a significant milestone, with Tuesday's transaction volume reaching a staggering 7.74 million – a 5-month high. The Growing Chasm Between Bitcoin and Ethereum For several months now, the gap between Bitcoin (BTC) and Ethereum's transaction volumes has been widening. Ethereum's daily on-chain transaction volume has reached an impressive 60% of...

A group of aggrieved artists and early testers of OpenAI's unreleased text-to-video tool Sora have leaked access to the new model as an act of protest. They claim that they were used for 'unpaid research and development' by the company. Background: The Leaked Tool The group, operating under the username 'PR-Puppets,' published what appears to be a front-end version of Sora on AI developer platform HuggingFace on November 26. This allowed anyone to utilize the tool, despite OpenAI's efforts to keep it under wraps. The Artists' Grievance According to an open letter published alongside the leak of Sora, the group claimed that 'hundreds of artists' provided unpaid labor through bug testing, feedback, and experimental work. However, they were excluded from any compensation or recognition by Ope...

The article discusses the current market situation for various cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Cardano, Avalanche, Chainlink, Shiba Inu, and others. The author analyzes each cryptocurrency's price action, chart patterns, and technical indicators to provide insights into their potential future movements. Here are some key takeaways from the article: Bitcoin: The author notes that Bitcoin has been trading in a range between $43,000 and $52,000 for several weeks. They predict that if the price breaks above $52,000, it could lead to a significant rally. Ethereum: The author believes that Ethereum's recent surge is due to the increasing adoption of DeFi (Decentralized Finance) applications on its network. They expect Ethereum to continue its upward trajectory and reach...

Bitcoin Breaks Landmark $100,000 Level: What's Next? A New Era for Cryptocurrency Bitcoin has finally broken the landmark $100,000 level, nearly 15 years after its inception. This milestone is a testament to the growing confidence in the cryptocurrency market and its increasing adoption by institutional investors. In this article, we will delve into the reasons behind Bitcoin's remarkable price surge and explore what experts are saying about its future prospects. A Record-Breaking Day On Thursday, Bitcoin (BTC) added 7.2% to its value over the past 24 hours, catapulting it to a record-high of $103,670. However, this impressive gain was short-lived as traders took early profits on the move, sending prices down to $102,500 in Asian afternoon hours. Market Capitalization As a result of this s...

Synthetix Introduces Multicollateral Perps, Allowing Users to Post Tokens as Collateral In a significant move, decentralized finance (DeFi) protocol Synthetix has begun accepting multiple token types as collateral for leveraged perpetuals trading on Coinbase's Base network. This development was announced by Synthetix on December 18. Expanding Collateral Options: A Key Feature of Synthetix Exchange The launch of multicollateral perps on Base, one of Ethereum's most popular layer 2 (L2) scaling networks, is part of a broader revamp of the DeFi protocol following a governance shakeup in October. By introducing multi-collateral perps, users will now be able to post tokens such as Coinbase Wrapped BTC (cbBTC) and Coinbase Wrapped ETH (cbETH) as trading collateral. Benefits of Multicollateral Pe...

MicroStrategy ETFs Soar as Investors Flock to Bitcoin Exposure MicroStrategy's Rise to Prominence Since its launch, MicroStrategy-tracking ETF MSTU has seen a staggering surge of 235%, while rival MSTX has gained an impressive 176%. These remarkable returns have sent shockwaves through the market, with investors clamoring for a piece of the action. But what's behind this surge in popularity? A Brief History of MicroStrategy ETFs Two MicroStrategy exchange-traded funds (ETFs) have emerged on the scene this year: the Defiance Daily Target 1.75X Long MSTR ETF (MSTX), which was introduced on August 15, and the T-REX 2X Long MSTR Daily Target ETF (MSTU), which began trading a month later on September 18. The MSTX fund initially promised investors 1.75 times the daily percentage change in MicroS...