Despite the market downturn and the widespread negative sentiment in the industry in the wake of the FTX collapse, on-chain data still show reasons to be bullish on Bitcoin. As pointed out by on-chain analyst Will Clemente, it’s enough to look at the long-term holders’s Bitcoin positions: they reached an all-time high despite their profitability being at an all-time low. “Long-term holders buy heavily into the bear market. They set the floor[...] and then those long-term holders distribute their holdings to new market participants in the bull market”, he told Cointelegraph in an exclusive interview. Another positive trend worth noticing …

FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived at the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming statement came from Bloomberg Intelligence exchange-traded fund analyst James Seyffart, who said that there was a “99.9% chance” that the Grayscale Bitcoin Trust (GBTC) held the Bitcoin (BTC) it claimed. He added that GBTC was “unlikely” to be liquidated. The negative events of the past …

Zero-knowledge (ZK)-Rollup tech company StarkWare has officially open sourced its new programming language compiler, Cairo 1.0, which will soon be supported on Ethereum layer-2 scaling solution StarkNet in Q1 2023. The news was announced by StarkWare — the company behind StarkNet — in a Nov. 25 Twitter post. StarkWare’s rollup technology and recursive proofs offer the potential to compress millions of transactions on L2 into a single transaction on Ethereum, however the project has been criticized for maintaining control over its IP, not least of all by its more open source focused competitor zkSync. StarkWare described open sourcing Cairo as …

No matter if one analyzes Ether's (ETH) longer-term or weekly time frame, there is little hope for bulls. Besides the negative 69% year-to-date performance, a descending channel has been pressuring the ETH price while offering resistance at $1,200. Regulatory uncertainty continues to weigh down the sector. For example, Starling, a digital bank based in the United Kingdom, announced on Nov. 22 that it would no longer allow customers to send or receive money from digital asset exchanges or merchants. The bank described cryptocurrencies as "high risk and heavily used for criminal purposes." Other concerning news for the Ethereum ecosystem involved …

Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets, which work by luring victims into accessing a lucrative crypto wallet but will ultimately drain them of their own crypto holdings. According to a Nov. 22 post on the Facebook page of the NSW Police Force, the scam starts as a paper cryptocurrency wallet with a QR code, which is made to appear like a legitimate Bitcoin paper wallet. These are strewn by scammers in public locations such as streets or parks. An individual that locates the paper wallet and scans the QR code is directed to …

The learning curve for blockchain and its related topics is steep. To this day, even those familiar with blockchain terminology need help to perform basic functions like storing, trading and transacting with crypto assets, in addition to using nonfungible tokens (NFTs) for any of their intended use cases beyond being a digital collectible. For this reason, the unfortunate reality is that despite networks like Ethereum being diverse in utility across payments, storing data and other decentralized finance (DeFi) use cases, mass adoption continues to meet challenges since few know how to interact with blockchain technology. A lack of adoption doesn’t …

Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges. As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH while some 4 million Wrapped ETH are held in the WETH deposit contract. Web3 infrastructure development and investment firm Jump Trading holds over 2 million ETH tokens and is the third …

“The earth is a very small stage in a vast cosmic arena… Think of the rivers of blood spilled by all those generals and emperors so that, in glory and triumph, they could become the momentary masters of a fraction of a dot.” The quote above from Carl Sagan has been used by Metaverse Studios to set the stage for Angelic, its NFT-powered blockbuster Sci-Fi RPG. Beautifully crafted, the game—as presaged by the Sagan quote—asks players to see beyond their everyday conceptions of space and time. Given the current market upheaval, many in the NFT and crypto industries have had …

Ether (ETH) price experienced an 11.9% decline from Nov. 20 to Nov. 22, bottoming at $1,074 — the lowest level seen since July. Currently, investors have reason to be concerned after crypto lending company Genesis reportedly faced difficulties raising money, triggering rumors of insolvency on Nov. 21. However, a spokesperson for Genesis told Cointelegraph that there were no plans for imminent bankruptcy because the company continues to hold discussions with its creditors. Unease about the centralization of decentralized finance (DeFi) surfaced after Uniswap Labs changed the privacy policy on Nov. 17, revealing that it collects publicly-available blockchain data, users' browser …

On this week’s The Market Report show, Cointelegraph’s resident experts discuss what the ramifications would be if Grayscale Bitcoin Trust were to collapse. We start off this week’s show with the latest news in the markets: GBTC next BTC price black swan? — 5 things to know in Bitcoin this week Bitcoin (BTC), the largest cryptocurrency, just like the rest of the crypto industry, remains highly susceptible to downside risk as it continues to deal with the fallout from the implosion of exchange FTX. Contagion is the word on everyone’s lips as November grinds on — just like the Terra …

The latest revelation from the FTX case reveals that Bahamian properties worth millions were bought in the company name. FTX, at the time operated by Sam Bankman-Fried (SBF), his parents and other high-level executives of the company, reportedly purchased at least 19 properties in the Bahamas over the last two years. Collectively, these purchases have a worth of over $121 million, according to a Reuters report of the official property records. Among the acquired properties were seven luxury condos. While the residents of the condos remain unknown at the time of writing, the property deed claims they were to be …

The hacker behind the theft of more than $447 million of crypto from the crypto exchange FTX has been again spotted moving their ill-gotten funds. According to Etherscan data, between 4:11 to 4:17 pm UTC on November 21, the attacker moved a total of 180,000 Ether (ETH) across 12 newly created wallets — each receiving 15,000 ETH. The total amount moved totaled $199.3 million at current prices. At the time of publication, the ETH has not moved from any of the 12 wallets. Some in the crypto community suggest the attacker may be planning to subdivide it into smaller and …