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On-Chain Data Reveals What Happened Right Before Latest Bitcoin Price Dip

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On-Chain Data Reveals What Happened Right Before Latest Bitcoin Price Dip
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According to reports currently flowing within the crypto community, crypto whales were spotted shifting their coins to some popular exchanges like Binance and BitMex just hours before Bitcoin scaled back to the $9.5k range after shooting up to over $10k barely 24 hours before.

Whale Activity

One notable report was one posted in a tweet by CryptoQuant, a fairly popular provider of on-chain data and market charts for crypto adherents.

Apparently, Binance and BitMex seem to have been the major destinations of huge stashes of Bitcoin moved by whales.

On-Chain Data Reveals What Happened Right Before Latest Bitcoin Price DipSource: CryptoQuant

That aside, the fact that the BTC dip occurred after the inflows have many speculating that the price crash may have been induced by the whales dumping their coins on the exchanges.

This upshot has been troubling many people in the crypto community. In fact, there have been some reports that the price crash was an act of capitulation by inefficient miners. These sorts of issues have plagued the crypto community for years.

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Miners Will HODL

Still, at least according to CryptoQuant, there isn’t really any cause to worry as Bitcoin miners are likely to hold their stash in place as opposed to dumping that affects the price.

Indeed, the available chart data suggest that most miners are in favor of holding even as some smaller miners are capitulating since the price dip doesn’t seem to have spooked them.

Miners Will HODLSource: CryptoQuant

In that case, miners will be playing a huge role in keeping the market in balance and preventing whales from broadly manipulating the market by buying extensively on the dip and selling on the high. If no miner sells, the available BTC already in circulation will rise in demand and price, and that will likely keep the whales from dumping large caches of coins on the market.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/on-chain-data-reveals-what-happened-right-before-latest-bitcoin-price-dip/

Blockchain

Digitex Launches Spot Exchange

[Featured Content] With the current bitcoin bull run and greater institutional support, more people than ever are entering the industry, and more products are being introduced to accommodate this growing demand. One of the latest of these comes from Digitex, a commission-free exchange. The firm has announced on April 15, 2021, that its new spot […]

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With the current bitcoin bull run and greater institutional support, more people than ever are entering the industry, and more products are being introduced to accommodate this growing demand.

One of the latest of these comes from Digitex, a commission-free exchange. The firm has announced on April 15, 2021, that its new spot market has formally launched. In a bid to make the trading experience easier for new members and benefit existing ones, their new spot exchange allows the buying of DGTX directly as well as other popular cryptocurrency pairs.

Details About the Digitex Spot Market

As part of the launch, six new trading pairs have been introduced: DGTX/BTC, DGTX/ETH, ETH/BTC, BTC/USDC, ETH/USDC, and DGTX/USDC. There are many suggested benefits to spot markets, including for those that are not interested in futures trading.

This type of customers can make as many transactions as they want and will not have to incur any fees while doing so. Digitex also allows users to withdraw their funds at no additional charge. The crypto market is a volatile one, and while this might make it unpredictable, it also makes it an exciting one to capitalize on. Digitex users can now take advantage of it using a single exchange wallet.

Following their principle of respecting users’ privacy, no KYC is required for customers to carry out their transactions, but they are currently running a special offer for new customers to receive $25 upon completing their KYC.

According to  Digitex CEO and founder Adam Todd, these new measures are designed to make the customer experience as seamless as possible, and this is in line with the company’s philosophy.

“We want to offer our traders an experience they won’t find anywhere else. So, not only have we removed ALL fees, zero trading, and zero withdrawal fees, but we’ve also really improved our UX and UI on this latest release. By allowing traders to trade cryptocurrencies and futures from one universal wallet, they can interact with our markets in a faster and more convenient way that’s delivering real value to users,” he said.

Digitex’s current futures trading option was introduced almost a year ago in July 2020 and was designed to allow high-frequency transactions without users having to pay fees on every one of them. This has proven to be a resounding success so far, with a record  22 billion contracts processed in a 24-hour period. The exchange has also maintained its zero-fee trading model by leveraging its native DGTX token, which is used for the payout of profits and losses.

Ultimately, Digitex is taking the initiative to serve the relatively new crypto market that will only get bigger over time. Not only this, but players in the market will want to make transactions with as few fees as possible and as quickly as they can.

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Source: https://cryptopotato.com/digitex-launches-spot-exchange/

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TIME Magazine to Receive Cryptocurrency Payments for Digital Subscriptions

TIME Magazine has partnered with Crypto.com to enable its users to purchase digital subscriptions using bitcoin and other cryptocurrency assets.

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TIME Magazine has doubled down on its cryptocurrency endeavors by enabling bitcoin and other assets to be used as a form of payment for digital subscriptions. The innovation comes a few weeks after the New York City-based magazine partnered with Grayscale to produce educational crypto videos and be paid in BTC.

TIME Readers to Purchase Subscriptions With Crypto

With the first issue released nearly 100 years ago, TIME Magazine is among the largest and oldest news magazines and websites in the US. The company announced earlier today its second cryptocurrency-related partnership in a week.

By collaborating with the popular digital asset exchange CryptoCom, TIME will begin accepting crypto assets as instruments of payments for its digital subscriptions.

Readers who choose this option will “receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscribed-only events and offerings.”

Initially, only subscribers based in the US and Canada will be able to pay with cryptocurrencies, but the two parties plan to expand it to other countries by the end of the year.


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As part of the partnership, users selecting to pay with CryptoCom’s native digital asset – CRO – will receive Pay Rewards of up to 10% back.

Following the announcement, a spokesperson from CryptoCom told CryptoPotato that the company is “always looking for new and innovative partnerships that advance our mission of accelerating the world’s transition to cryptocurrency.”

TIME to Hold Bitcoin

Shortly before the aforementioned developments, TIME collaborated with the largest digital asset manager – Grayscale – to produce a new educational video series about cryptocurrencies.

What’s perhaps even more notable is the payment method. Upon making the announcement, Grayscale’s CEO Michael Sonnenshein informed that TIME and its CEO – Keith Grossman – have agreed to be paid in bitcoin.

Moreover, TIME will hold the received BTC on its balance sheet, thus joining the likes of MicroStrategy, Tesla, and many more.

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Source: https://cryptopotato.com/time-magazine-to-receive-cryptocurrency-payments-for-digital-subscriptions/

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Hackers Sell Off Personal Information for 10 Bitcoins After Hacking Domino’s India

Hackers requested 10 bitcoins for personal information that includes one million credit cards obtained after an attack on Domino’s India.

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Jubilant Foodworks, the organization that operates the franchise of Domino’s Pizza in India and several other countries, have reportedly experienced a significant data breach. The hackers offer to sell sensitive information on the dark web, and they asked for a payment of 10 bitcoins.

A Security Breach at Domino’s India

According to a recent report, Domino’s India website was compromised earlier this month. While the consequences of the attack were unknown until recently, the coverage provided more clarity, outlining the scope of the breach.

More precisely, the hackers claimed they had obtained customers’ data, payment information, including one million credit cards while, and personal details of hundreds of employees. Overall, they said the total amount of stolen information equals 13TB.

The perpetrators published numerous messages on the dark web indicating that they have built a search portal to enable interested parties to look for specifics in the leaked data.

Although Jubilant FoodWorks confirmed the security breach in an email, the organization declined the assertions that the hackers stole sensitive information, including payment details.


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Jubilant FoodWorks owns and operates the franchise of the American pizza restaurant chain Domino’s Pizza in India. A company PR from earlier this year said it has over 1,300 restaurants in nearly 300 cities in Asia.

10 Bitcoins Requested

After receiving access to the sensitive information, the hackers declared their conditions. Essentially, they put the details on sale, and interested parties could purchase the entire batch for ten bitcoins.

With the primary cryptocurrency trading around $57,000 today, this means that all the information reportedly stolen from Domino’s India could be bought for $570,000 worth of BTC.

It’s worth noting that bitcoin has become a wildly popular payment tool for bad actors. Apart from being frequently requested after similar hacks, a report from December 2020 breached another criminal case in India with BTC implications. At the time, kidnappers had abducted an eight-year-old boy and demanded 100 bitcoins for his safe return.

Similar developments have prompted the world’s second most populated nation to propose strict cryptocurrency regulations in order to reduce their usage in illicit activities.

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Source: https://cryptopotato.com/hackers-sell-off-personal-information-for-10-bitcoins-after-hacking-dominos-india/

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BlockSwap Network Announces Balancer LBP And Uniswap LP Incentive

[PRESS RELEASE – George Town, Cayman Islands, 19th April, 2021, Chainwire] BlockSwap Network prepares the final steps to begin its Balancer Liquidity Bootstrapper pool. The event will facilitate the distribution of cBSN tokens from April 19 to April 22, 2021. This ERC-20 token is for the BlockSwap Community Net, providing users with access to current […]

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[PRESS RELEASE – George Town, Cayman Islands, 19th April, 2021, Chainwire]

BlockSwap Network prepares the final steps to begin its Balancer Liquidity Bootstrapper pool. The event will facilitate the distribution of cBSN tokens from April 19 to April 22, 2021. This ERC-20 token is for the BlockSwap Community Net, providing users with access to current and future tools.

Through the liquidity bootstrapping event, BlockSwap will achieve a wide distribution of the CBSN token through fair means. Balancer’s events attract ample attention by all major token distribution projects to let users explore a fair pricing structure by placing bids on the token.

Owners of the CommunityNet tokens will gain access to various products under the BlockSwap Network banner. The cBSN token serves as a gateway to access demo products and accrue incentives rewards. Activities to explore including staking for a Liquidity provisions take, governance-based incentives, and future solutions to be added shortly.

“We see balancer LBP as the best fair launch mechanism to get cBSN token into as many hands as possible and enable users to access all our demo products in a safe environment, accruing incentives rewards for their participation, said Scott Trowbridge, COO at BlockSwap.

There will only be ONE Balancer Pool for the cBSN, to which users can not contribute liquidity. The team will tweet the contract address for the Balancer LBP event from BlockSwap’s official Twitter account shortly to avoid any confusion.

Following the LBP event, cBSN tokens will be made fully accessible in users’ wallets. A Uniswap LP incentive pool kicks off on April 25, with the StakeHouse LP CommunityNet to launch in early June 2021. More information regarding the roadmap will be released accordingly. Make sure to keep an eye on our Telegram channel for updates and news.

About BlockSwap Network

BlockSwap Network makes Proof of staking benefits accessible to everyone as a stable yield source, incentivizing existing staking operators and PoS token-holders by insulating everyday users from dealing with crypto asset volatility and its staking process’s complexities.

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Source: https://cryptopotato.com/blockswap-network-announces-balancer-lbp-and-uniswap-lp-incentive/

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