30.12.[News of the day] • SHIB whales have increased their average number by 28% • and other articles4 min read
Welcome to today’s overview:
It was only three days ago, on December 27, that the primary cryptocurrency hovered, reaching an almost monthly high of $ 52,000. Still, digital assets can change a lot in 72 hours. After this local peak, BTC began to lose value somewhat quickly. It first fell to $ 49,000 in a matter of hours and fell to $ 48,000 yesterday.
The situation has only worsened in the last 24 hours as BTC has dropped to $ 46,000, making it the lowest price point in ten days. BTC is currently trading about $ 1,000 higher, but is still almost 2% lower than yesterday.
Altcoins also experienced better days. ETH, for example, traded above $ 4,100 earlier this week. Now, however, the second largest cryptocurrency is below $ 3,700 after losing the coveted $ 4,000 mark on Tuesday.
North Korea accused of stealing more than $ 1.7 billion in cryptocurrencies from exchanges
North Korea has reportedly stolen more than $ 1.7 billion in cryptocurrencies over several years, the South Korean media reported. The country uses hackers to target individuals and companies from different parts of the world.
South Korean media reports that North Korea has hacked 2 trillion won ($ 1.7 billion) cryptocurrencies from exchanges. The reports also state that a country that is subject to severe sanctions retains these assets in the long run in order to make the most of them, instead of selling them immediately for cash.
Allegations that North Korea is using hackers to steal exchange funds have been around for a long time. In October 2021, the United States also pointed out that the country had been doing this for several years.
SHIB whales increase their average number by 28%
Despite the failed recovery in the cryptocurrency market, SHIB whales continue to store additional tokens in their wallets as the average SHIB balance on whale wallets increased by 28% to 2.6 billion tokens.
The increase in balances at whale addresses was recorded after retreats in the middle of a recovery rally, which brought SHIB investors a 28% profit in four days. However, due to sales on larger cryptocurrencies such as ETH and BTC, the rally on Shiba Inu ended, leading to a 13% drop in two days.
During the Whale Renewal Rally, they bought tokens worth more than $ 400 million, which is the reason for the increase in the average token balance. When the asset returned after a slight recovery, the whales continued to hold the token.
Banks, crypto exchanges, companies
Russia’s Sber Bank is launching a blockchain ETF monitoring Coinbase and Galaxy Digital
Sber, a Russian-backed company and the country’s largest bank, is launching a blockchain exchange fund (ETF) to monitor the performance of major crypto companies such as Coinbase and Galaxy Digital.
Sber Asset Management officially announced the report on Thursday, adding that the new ETF is affiliated with various companies in the blockchain and crypto industrie.
The fund, called “Sber – Blockchain Economy”, will be traded under the SBBE ticker and will follow the index of the same name developed by the investment subsidiary SberCIB.
An investment in Nvidia, Moderna 1 year ago would have a higher return on investment than an investment in BTC
The leading flagship of the digital currency, BTC, has seen a significant increase in value over the past year, despite the recent drop in the price of the asset.
According to Finbold’s BTC ROI tracker, which compares the return on investment in BTC with the return on investment in other assets, this flagship digital currency has increased by 62.43% over the last year (as of December 30, 2021).
Despite the high rate of return on investment in BTC, two well-known stocks outperformed the digital currency in the same period. The return on investment in BTC has decreased by 28.83% over the last year compared to Nvidia. Despite being such a large company, the company has shown amazing growth during its last quarter. Sales increased 50% to $ 7.1 billion in the third quarter, bringing the company’s 12-month total sales to $ 24.3 billion.
South Korean crypto exchanges will follow Coinone in verifying private wallets
Major South Korean crypto exchanges, including Upbit, Bithumb and Korbit, will follow Coinone and ban transfers to unverified wallets, industry analysts say.
Coinone announced yesterday that it will reject deposits from unverified private wallets from January 24 to reduce the risk of money laundering. All Korean exchanges, including Upbit, Bithumb, Korbit and 20 others, are expected to introduce similar or the same measures as Coinone by March 25 at the latest. The GOK has set this deadline so that exchanges can accurately track coin transactions on and off their platforms.
Turkey will release the regulation of digital assets
Turkish President Recep Tayyip Erdogan has announced that the long-awaited bill on regulating digital assets is ready, according to local media reports. The contents of the bill have not been released, but are expected to be hostile to digital assets, which are growing in popularity in Turkey as the value of the lira’s currency has plummeted in recent months.
In March, Blockworks said Google’s search for BTC and other cryptocurrencies increased by almost 500%. In April, Turkey banned cryptocurrencies as a form of payment. Holding this asset remains legal, although regulators often cite crypto as a form of evasion of capital controls and taxes.
Ergodan’s government took an unconventional approach to monetary policy by refusing to raise interest rates to fight soaring inflation and instead keep rates low so it could finance cheap loans.