Block Network

October 19, 2020

‘Old hands selling out’ metric shows Bitcoin price at risk of HODLers dumping

On-chain data shows dormant addresses are selling BTC, leading some analysts to make bearish calls on Bitcoin price. Old hands are selling their Bitcoin (BTC) holdings, according to glassnode’s Coin Dormancy metric. As shown below, dormant addresses selling BTC marked previous tops in BTC.Coin Dormancy of Bitcoin. Source: glassnodeOn-chain analyst Willy Woo said old hands […]

Number of Bitcoin wallets holding over 100 BTC tests 6-month high

Wallets once again appear to be accumulating cryptocurrency at an increasing rate. More than 16,159 Bitcoin wallets now hold 100+ BTC according to analytics data provider, Glassnode. An October 19 report from the company stated that this figure tests the previous 6-month high of 16,158, last seen on June 8.Glassnode additionally posted that the number of non-zero Bitcoin addresses reached […]

Exploring the landscape of crypto regulations in sub-Saharan Africa

Despite facing hot-and-cold rules, growing crypto usage in sub-Saharan Africa is forcing regulators to reconsider the industry. Sub-Saharan Africa has no doubt suffered many regulatory setbacks in adopting cryptocurrencies. With most countries in the region struggling not to buckle under economic uncertainties and pressures looming over them even as the ripple effects of COVID-19 set […]

US financial watchdog fines early Bitcoin mixer $60M for money laundering

FinCEN has fined the operator of early crypto mixers Helix and Coin Ninja for Bank Secrecy Act violations. The founder and operator of some of the first “mixing” services in crypto will have to cough up $60 million to U.S. regulators, even as he faces continued criminal charges. The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) […]

This blockchain only needs 22Kb of data to be verified

Mina applies zk-SNARKs to Cardano’s Ouroboros consensus to achieve scalability and decentralization. Mina aspires to be the world’s tiniest blockchain, with claims that its protocol maintains a constant size of around 22 KBs. This is ostensibly achieved by using recursive zk-SNARKs — the same technology that is used by the privacy-centric cryptocurrency, Zcash (ZEC). However, whereas the latter […]

Vinnik trial for extortion and Bitcoin money laundering begins in Paris

The Russian national linked to the laundering of $4 billion of Bitcoin stolen during the Mt. Gox hack is finally in court. The trial of the alleged launderer of $4 billion worth of Bitcoin (BTC), Alexander Vinnik, got underway in Paris on Monday.However, despite reported links to the 300,000 BTC hack of Mt. Gox in […]

Better to get it right than to be first with CBDC, says US Fed chair

The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued. The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed’s chairman, Jerome Powell.Powell claimed that he is not worried about other […]

Japanese payments firm JCB and Mizuho Bank test blockchain-based ID

Fujitsu has been working on blockchain-based digital identity tools since 2019. Major financial institutions in Japan are moving into blockchain to streamline digital identity systems.Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology. The new system will utilize a blockchain solution […]

Ethereum can rise to $800 in 2020 if this bull ‘mini-cycle’ repeats

The price of Ethereum is showing similarities with previous bull cycle beginnings as $800 ETH is coming back in play. Markets tend to behave in massive cycles. One of those cycles is the previous Bitcoin (BTC) price cycle from 2014 to 2017. However, within those cycles, are multiple smaller cycles that could often repeat.A similar […]

Payments-focused cryptocurrency Dash now has a bridge to DeFi

A StakeHound collaboration allows Dash holders to earn masternode staking rewards and access DeFi services at the same time. Dash (DASH) holders will soon be able to access a wide range of decentralized finance, or DeFi, services through a collaboration with StakeHound.According to an announcement on Oct. 19, tokens which are deposited with StakeHound will […]