Welcome to today’s cryptography overview:
In the past 24 hours, Nemesis has struck again at $ 50,000. BTC traded around $ 49,000 and launched an impressive rise that resulted in a breach of the coveted border.
In addition, BTC continued to rise, reaching $ 51,000 for the first time in several days. Nevertheless, the cryptocurrency did not stay above it and in the following hours it fell by $ 2,000 to its current position of around $ 49,000.
The second largest cryptocurrency also has better times. It ran a roller coaster from $ 4,650 to $ 3,500 in a few hours last week before bouncing off quite well, climbing over $ 4,400. However, the ETH bears also returned and pushed the asset south. Since then, after another small daily decline, around $ 4,000 has been trading.
AVAX analysis – the price is looking for a bottom correction. Will the reverse pattern be confirmed?
Shiba Inu lost first place in dominance among ETH whales
After a sudden 8% increase in the market, Shiba Inu returned and reached a new low in the market, which, according to WhaleStats, brought it to second place among large ETH wallets.
After losing most of its value, the net value of SHIB holdings among whales declined to second place. The first place now belongs to the “Other tokens” category, which means that whales do not focus on one particular token and redistribute their resources.
The overall SHIB dominance rate is 7.2%, while other tokens are responsible for 7.5% of all whale shares. Although Shiba Inu has lost its leading position, it is still 2% ahead of the FTX token in third place.
Solana is suffering from a slowdown in the network, which raises questions about proof-of-history
Over the weekend, Solana’s blockchain community was surrounded by confusion, as a sudden drop in transaction speed was originally considered a distributed denial of service (DDoS) attack, leading to a long debate about the cause of the delay.
The NFT-based Blockasset platform, which deals with the NFT, was one of the first to raise the issue on Twitter late last week:
“We are aware that token distribution takes a long time. Solana is overwhelmed by DDoS attacks that have flooded the network and caused delays.
Since then, the same account has corrected the exchange rate and admitted that the network is down, but only that transactions are delayed.
One industry observer from the Rockway Blockchain Fund, explained that transactions had fallen four times since last Thursday to 1,000 transactions per second, due to bot attempts to cram large transactions into blocks that required more computing power than was required. network able to carry. He also noted that this issue is addressed in an unreleased blockchain software update. Solana is able to work at 65,000 transactions per second.
Banks, crypto exchanges, companies
Robinhood works with Chainalysis before launching the cryptocurrency
Blockchain’s analyst firm, Chainalysis, will work with Robinhood to provide data and tools for pre-cryptocurrency trading.
In Monday’s announcement, Chainalysis said an integrated partnership with Robinhood Crypto would help the business meet compliance requirements before launching its cryptocurrency, which should be in place for all users in early 2022.
According to Robinhood, in addition to Chainalysis Reactor, its investigative software, the platform will adopt a Chainalysis Know-Your-Transaction solution that monitors compliance. The business application also said that its teams will use Chainalysis certification programs to achieve compliance.
China’s Yunnan Province is eliminating illegal energy supplies for BTC mining
The Energy Authority in southwest China’s Yunnan Province said it had removed illegal energy supplies from small and medium-sized hydropower plants for BTC mining as China continued to intensify repression against cryptocurrency mining.
In a post on Friday’s Weibo, a Chinese microblogging platform similar to Twitter, a Yunnan province said it had identified 246 small and medium-sized hydropower plants since late September and asked them to stop supplying electricity to miners, a move that could save money. up to about 2 billion kilowatt hours of energy throughout the year.
Executive Director of the ECB fears that the digital euro could damage foreign currencies
Cryptoinvestors are already well aware that institutions such as the European Central Bank (ECB) are suspicious of stablecoins and often warn of their risks. Fabio Panetta, a member of the ECB’s Executive Board, gave a speech on 10 December reiterating these well-known thesis. However, Panetta also revealed some new and interesting insights into what the digital euro could do to non-EU economies.
After reviewing the need CBDC Panetta expressed concern that the digital euro, which could be used by non-EU residents, could weaken weaker foreign currencies and worsen the situation in the eurozone. He added that the digital euro could completely displace local currencies in some third countries where it would spread.
Panetta also fears that the central banks in these countries could lose their autonomy as a result of the spread of the digital euro.