Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Solana continues comeback with 137% YTD price surge

  • Solana is currently changing hands at $23.26, about 137% up year-to-date.
  • The coin’s price plummeted after FTX fell in November, ending the year below $10.
  • SOL price has soared amid positive sentiment, broader market rally and meme coin-driven interest.

Solana traded below $10.00 on the first day of 2023, having plummeted more than 73% in a massive dump following the collapse of the FTX cryptocurrency exchange.

As was the case, Solana is a blockchain project with ties to disgraced crypto figure Sam Bankman-Fried – the founder of FTX and Alameda Research. After both companies filed for bankruptcy and Bankman-Fried found himself in custody, the native Solana token SOL took a nosedive.

Solana’s SOL soars 137% year-to-date

Having ended 2022 at around $9.66, SOL price has seen impressive bullish action over the past two weeks. The token’s price has rebounded strongly to currently trade more than 62% in the past week, according to crypto market data aggregator CoinGecko.

For its YTD price, SOL is up more than 137%, trading at $23.26 across major exchanges on Monday, 16 January, 2023.

A turnaround for SOL comes on the back of positive sentiment from across the crypto, including last month’s optimistic outlook for the Solana ecosystem from Ethereum founder Vitalik Buterin. 

A rebound in decentralised finance (DeFi) and meme coin craze-related activity is also leading to more buy Solana market action. Another factor driving SOL price in recent days has been the broader enthusiasm in the market after what was typically a suffocating run at the backend of last year.

On 12 January, crypto markets platform Messari highlighted that Solana was far from “dead.” According to the firm, on-chain data showed both transaction volumes and active accounts on the Solana blockchain had surged to levels last seen before the FTX collapse.

As CoinJournal previously covered, some of the uptick in activity followed the launch of meme coin Bonk (BONK), with significant spike in interest in Solana after the cryptocurrency’s airdrop to the community.

The post Solana continues comeback with 137% YTD price surge appeared first on CoinJournal.

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Bitcoin price: Analyst says BTC could hit $25K by March

  • Bitcoin price broke above $21,440 on major cryptocurrency exchanges for the first time since the FTX implosion.
  • Much of the buying pressure was retail driven as crypto mirrored stock markets’ Friday surge.
  • Veteran trader and markets analyst Peter Brandt has shared his prediction for Bitcoin price in 2023.

Cryptocurrencies roared into the weekend as Bitcoin price spiked to highs above $21,000 for the first time since FTX’s debacle began to unfold in November.

Data from CoinGecko shows that the benchmark crypto hit prices near $21,450 on major crypto exchanges on Sunday, with major altcoins tracking the leading digital asset. Ethereum broke above $1,500, Solana jumped to trade at highs of $24 and Dogecoin rose as high as $0.088. 

It’s notable that the rise in crypto prices followed a tick up for growth stocks and risk assets as the US inflation slowed further in December to suggest a potential pivot from the Federal Reserve.

Bitcoin price rally- analyst points to $25K by March

Bitcoin is up more than 22% in the past seven days, with BTC currently showing resilience above the $20,000 support level.

While on-chain data indicates the weekend buying pressure wasn’t so much as institutional investor-driven, the potential for bitcoin going higher remains if prices consolidate above the psychological level.

According to veteran trader and markets analyst Peter Brandt, BTC’s bullish trend will benefit from a weekly close above $20,800. He shared the prediction in a tweet.

The seasoned trader predicts a run to major resistance at $25,000 by March, with rejection seeing BTC retest the $18,000 level. If bulls hold this level, the analyst forecasts another sharp rally that could end up with Bitcoin price testing resistance levels around the $35,000 mark by July 2023.

Although he warns that no one can predict the markets with certainty, his long term outlook for Bitcoin has the cryptocurrency’s price above $100,000 by 2025.

The post Bitcoin price: Analyst says BTC could hit $25K by March appeared first on CoinJournal.

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Frontier in-browser wallet supporting Aptos goes live

  • DeFi protocol Frontier Wallet brings in-browser wallet support for Sui, Aptos, and 33 other cryptocurrencies.
  • Besides transactions, users will also be able to stake and transfer tokens between networks.
  • The wallet basically offers a one-stop platform for users to interact with dApps.

Decentralized finance (DeFi) protocol Frontier has officially launched the Frontier in-browser wallet extension.

The wallet extension brings in-browser wallet support for 35 cryptocurrencies including Sui and Aptos. Users will be able to stake tokens, transact using the allowed cryptocurrencies as well as store and transfer NFTs.

In a nutshell, the wallet will give users the privilege of interacting with any decentralized application (dApp) without needing to switch between different applications, which can be quite tedious for DeFi users. Additionally, the wallet supports some of the newer blockchains like Aptos and Sui which have become so popular in the recent past.

Transferring tokens between networks

In addition to the features mentioned above, the in-browser wallet will also allow users to transfer tokens between different blockchain networks, a process commonly referred to as bridging within the crypto space.

The Frontier team has built APIs for networks like  Near, Solana, Cosmos, and others. Users can use these APIs to get their balances and transactional history.

The wallet is a game changer since a majority of other popular crypto wallets including Zerion and MetaMask do not offer similar features to their in-browser wallet users.

Frontier also claims that its wallet has a security feature that detects phishing attacks and fraud to help keep users safe.

The wallet currently has over one million users worldwide and the new feature is expected to drive that number even higher.

The post Frontier in-browser wallet supporting Aptos goes live appeared first on CoinJournal.

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Binance and Huobi recover 121 BTC from Harmony bridge hackers

  • The Harmony bridge hack took place in June last year and over $100 million was lost
  • 121 bitcoins have been recovered by Huobi and Binance security teams.
  • The hackers were also moving ETH worth about $64 million over the weekend.

Seven months after one of the largest cryptocurrency exploits of 2022 took place, industry players are still optimistic about recovering the stolen funds. Over the weekend, Binance and Huobi teams teamed up to freeze and recover 121 bitcoins that the Harmony bridge hackers were trying to launder.

According to a tweet by Binance CEO, Changpeng Zhao, the hackers tried to launder 121 bitcoins worth about $2.5 million on the Huobi exchange and Binance detected the move and alerted Huobi. Binance then went ahead to assist Huobi in freezing and recovering the crypto assets which had already been deposited by the hackers.

Prior to Huobi and Binance recovering the bitcoins, on-chain crypto detective ZachXBT had tweeted saying that the hackers were moving 41,000 ETH worth about $64 million over the weekend.

Laundering seven months after the hack

The Harmony One team detected the hack on June 24, 2022, and reported that crypto assets worth about $100 million had been lost in the hack. The hackers, who were identified on June 30 to be the notorious North Korean Lazarus Group had exploited mutisigs securing the Horizon bridge.

After the hack, the attackers deployed laundering programs to move the stolen assets.

According to ZachXBT, the hackers deposited the stolen crypto assets in three crypto exchanges although he did not specify these exchanges.

However, going by the recent developments, it is most likely that Huobi is one of the exchanges that the attackers have been trying to use.

The post Binance and Huobi recover 121 BTC from Harmony bridge hackers appeared first on CoinJournal.

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Bithumb ordered to pay customers for service outage

  • Bithumb had a one and half hour outage that caused customers to lose funds.
  • South Korean Supreme Court has ordered the exchange to pay the customers for the damages.
  • Initially, a district court had ruled in favour of the exchange but the ruling was later overturned.

The local courts in South Korea have ordered that Bithumb is supposed to pay just about $200,000 for damages to 132 customers affected by a service outage on January 12, 2023.

On January 13, The South Korean Supreme Court ruled that Bithumb exchange should pay damages caused to customers after the 1.5-hour service outage. According to the Supreme Court, the exchange was to pay damages equivalent to $202,400 (251.4 million won). Customers are supposed to be paid as little as $6 to as much as $6,400.

According to the final ruling by the Supreme Court:

“The burden or the cost of technological failures should be shouldered by the service operator, not [the] service users who pay commission for the service.”

Initially, a district court had ruled against the customers before the matter was moved to the Supreme Court which overturned the earlier ruling and issued a final ruling on the matter.

Bithumb in South Korea

Bithumb is the largest cryptocurrency exchange in operation in South Korea and the service outage was caused by a sudden surge in the average amount of orders per hour coupled with bottle-necked transaction flows.

Bithumb has also been under investigation for the sudden death of one of the largest shareholders following embezzlement claims. There is also a special tax investigation on the exchange after authorities suspected the exchange of possible tax evasion.

Bithumb headquarters were actually raided by the National Tax Service (NTS) on January 10.

The post Bithumb ordered to pay customers for service outage appeared first on CoinJournal.