Crypto Market Highlights April 5, 2022
Crypto Market Highlights: General News PayRange, a mobile payment system that allows customers to pay bills and other services through vending machines, has implemented a new cryptocurrency-accepting capability. PayRange has launched an in-built page where customers may sign in to...
Crypto Market Highlights: General News
- PayRange, a mobile payment system that allows customers to pay bills and other services through vending machines, has implemented a new cryptocurrency-accepting capability. PayRange has launched an in-built page where customers may sign in to their Coinbase account and pay with cryptos. To complete their preferred transactions, users can pay with Bitcoin, Ethereum, and Shiba Inu, among other cryptocurrencies. To finish the payment with cryptos, you’ll need a Coinbase account.
- The money stolen by anonymous hackers in the Axie Infinity Ronin Network hack is now being distributed between multiple wallets and solutions to hide the tracks and withdraw digital assets into cash. The hackers have transferred 1,000 ETH, or about $3.5 million, to another Ethereum wallet with no marks or tags, although there appear to be numerous wallets involved in transactions designed to confuse investigators. The hacker had also transferred 200 ETH (about $7 million) to Tornado Cash, an Ethereum coin mixing service, clearly in an attempt to hide the movements of the stolen cash.
- Over the past seven days, around 16 Bitcoin whales, defined as individuals holding at least 1,000 BTC in their crypto wallets, have abandoned the network or redistributed their BTC supply, according to crypto expert Ali Martinez in a tweet on April 4. Martinez also shared a graphic that shows a gradual fall in the number of addresses having a balance of 1,000 BTC or more since late March. This figure was 2,255 on April 3, and it was around 2,271 on March 28, indicating a decline of 16 addresses. At the current price of Bitcoin, this means that whales who held at least $735 million (possibly more) in the largest cryptocurrency by market cap have either left the network or reallocated their supply.
- Various burn campaigns inside the SHIB Army have moved 208.53 million Shiba Inu tokens to “inferno” addresses since Sunday morning. At the current SHIB/USD exchange rate, this equates to $5,544 USD. The largest transfer in this change of burns has carried a massive 161,397,653 SHIB. On Sunday, April 3, the WhaleStats on-chain data tracker reported that “Tsunade,” the 3rd-largest wallet on the Ethereum blockchain, bought an enormous 86,811,666,383 Shiba Inu tokens. At the moment of purchasing, the number of meme tokens was $2,305,717. The wallet contains more than $3.5 billion in various ETH-based tokens, with American Born Doge (USDOGE, 23.07 %) accounting for the biggest share (worth $1,915,414,660).
- Intel Blockscale ASIC announced the details of its new bitcoin mining chip, which seeks to increase the energy efficiency of Proof-of-Work (PoW) mining through the company’s decades of research and development in related areas. Each Blockscale ASIC chip will deliver up to 580 gigahashes per second (GH/s) of hash rate with up to 26 joules per terahash (J/TH) of power efficiency and support up to 256 integrated circuits per chain, in addition to featuring on-chip temperature– and voltage–sensing capabilities. As a result, a mining system made up of 256 Blockscale ASIC processors will purportedly produce 148 TH/s while consuming 3,860 watts (W). Bitmain’s flagship air-cooled mining system, which is now the global market leader, produces 140 TH/s with a power usage of 3010 W, resulting in power efficiency of 21.5 J/TH.
- The Sandbox has teamed with cryptocurrency hardware wallet vendor Ledger to encourage crypto education in its virtualized world. Ian Rogers, the company’s chief experience officer, praised The Sandbox and its co-founder and chief operations officer Sebastien Borget for the opportunity, stating that as part of the agreement, Ledger will supply SAND owners with special Ledger Nanos.
- PancakeSwap has announced the release of fixed-term staking to users. The most recent Medium announcement indicates that the debut of the fixed-term pool is soon and provides a high level of flexibility and convenience to users who have invested through $CAKE. Users can benefit from this new function by receiving bigger incentives and yield amounts for a longer period of time. According to the team, the presence of one Cake Syrup Pool would be enough for a complementary mix of fixed-term and flexible staking. The $CAKE Syrup Pool, which was launched in April 2021, has over 130 million CAKE with numerous offerings of simplicity and ease to users.
- Three years after Indonesian tech major Gojek bought Philippine startup Coins.ph for $95 million, it has sold it for double the amount to Wei Zhou, who served as CFO at crypto trading platform Binance. The deal signifies two things. First, the Philippines is no longer a focus for Gojek, which is now merged with Indonesia’s e-commerce giant Tokopedia. The merged entity, GoTo, is set to go public on the Indonesian stock exchange on 11 April and aims to raise a whopping from the listing. Second, having been acquired by a senior executive in the cryptocurrency industry, Coins will be going back to its crypto roots. Founded in 2014, the startup is one of the earliest—if not the earliest—crypto wallets in the Philippines that allowed buying and selling of cryptocurrencies.
- According to Santiment, an on-chain analytics tool, supply is shifting out of high/whale-tier addresses, meaning those with more than 100,000 ADA. This decreasing supply is being absorbed by the low-mid and high-mid tiers, which are continually accumulating. Cardano holders with ADA values between $100 and $100,000 have achieved new highs of 16.8% of the available supply, according to a graphic released by the on-chain analytics business on April 4. According to the information presented, low-tier addresses (those with less than $100 in assets) own only 0.128% of the ADA supply, but their numbers are growing.
- The Australian Securities and Investments Commission (ASIC) has issued new cautions about appropriate conduct for financial influencers, which could have a significant impact on the local crypto business. ASIC’s latest Information Sheet details the pitfalls that influencers and the organizations that hire them may fall into while advertising financial products, whether intentionally or unintentionally. Failure to heed ASIC’s warnings could result in fines of millions of dollars for businesses and up to five years in prison for individuals.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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