Based on the latest data, the well-known Genesis address owned by Satoshi Nakamoto now holds over 100 BTC after someone inadvertently sent 0.10754671 BTC, valued at ,211, to the wallet. The current value of the wallet, which has never been spent, is estimated at .75 million. Another Unintentional Bitcoin Transaction Pushes up the Value of […]
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As TRUMP Coin Surges Over 100% in a Month, Trump’s Crypto Wallet Swells in Value
Over the past week, the meme coin known as maga (TRUMP) has increased by more than 45% against the U.S. dollar, and over the past day, the TRUMP token has climbed more than 7%. Statistics reveal that this rise in value has boosted former U.S. President Donald Trump’s cryptocurrency holdings, with his stash of TRUMP […]
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Latam Powerhouse Crypto Exchange Bitso Launches Web3 Wallet
Bitso, the Mexico-based, Latam-focused cryptocurrency exchange, recently launched its own Web3 wallet, targeting the decentralized finance (defi) ecosystem. The idea behind this new product is to ease the onboarding of Bitso’s customers into this landscape, allowing them to dabble in non-fungible tokens (NFTs), decentralized exchange, and other services from a trustable platform. Bitso Launches Web3 […]
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Crypto Wallet Firm Exodus Faces Unexpected Setback in NYSE Uplisting Plan
Exodus Movement, a crypto wallet company, announced that its planned listing on NYSE American will not proceed as scheduled due to the U.S. Securities and Exchange Commission (SEC) still reviewing its registration statement, despite the statement being declared effective at the end of April. The company, which intended to uplist from OTC trading to expand […]
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Shiba Inu Stands Strong: Over 650K Wallet Addresses Still Profitable Amid Recent Price Drop
Shiba Inu (SHIB) has demonstrated resilience despite recent market downturns. Data reveals that roughly over 700 trillion SHIB tokens held by more than 650,000 wallet addresses remain profitable, reflecting steadfast confidence among holders in the token’s long-term value.
Shiba Inu Market Resilience Amid Volatility
Recent on-chain analytics have uncovered an interesting trend among Shiba Inu investors. Despite a general dip in SHIB’s market price, investors continue to hold a substantial volume of tokens—totaling 733 trillion—showing unrealized gains.
These holdings, maintained by approximately 653,530 individual wallets, were acquired at prices ranging from .000002 to .000022, averaging out at .000011.
This indicates not only a significant level of acquisition but also a broad base of investors who entered the market at lower valuations, positioning themselves in profit despite the coin’s fluctuating fortunes.
The “Break Even Price” indicator, a crucial tool derived from on-chain data, suggests that many SHIB holders are still in the green financially. This could point to a collective strategy among holders to weather short-term price movements, with an eye on potential long-term returns.
Such data reinforces the notion of SHIB as more than just a speculative asset, hinting at a deeper conviction among its community regarding the token’s future potential.
Long-Term Outlook And Ecosystem Developments
Despite a decline of 5.2% over the past week and 11.9% over the past month, Shiba Inu has seen a recent uptick of 3.3% in its price in the last 24 hours, trading at .00002389.
Notably, this upward trajectory in value mirrors the asset’s trading volume, which has also surged from below 0 million last week to above 0 million as of today.
This recovery aligns with significant developmental strides within the Shiba Inu ecosystem, particularly the completion of a hard fork in its Layer-2 blockchain solution, Shibarium.
The Shibarium hard fork, executed at block height 4504576, introduced enhancements aimed at improving usability and transaction efficiency. This was a response to community feedback advocating better performance and lower costs.
This upgrade is expected to boost transaction speeds and stabilize transaction fees on Shibarium, making costs more predictable for users.
Moreover, the recent hard fork’s dual focus—enhancing the Bor and Heimdall components of Shibarium—aims to refine the platform’s technical infrastructure.
1/ #Shibarium has successfully completed its hard fork at block height 4504576!
Get ready for:
•Blazing-fast transactions!
•Predictable gas fees! pic.twitter.com/oQrtF3OMTe— Shibarium Network (@ShibariumNet) May 2, 2024
By improving the calculation of state sync confirmation and ensuring deterministic finality, the Shiba Inu team appears keen on improving the network’s reliability and scalability.
Featured image from Unsplash, Chart from TradingView
Bitlight Labs Launches Public Release of Bitlight Wallet, the First Self-Custodial Bitcoin Wallet Supporting RGB Assets
PRESS RELEASE. Bitlight Labs Launches Public Release of Bitlight Wallet, the First Self-Custodial Bitcoin Wallet Supporting RGB Assets Bitlight Labs, a pioneer in RGB protocol and Lightning Network infrastructure development and a board member of the LNP/BP Association, announced the launch of its flagship product, Bitlight Wallet, on April 27, 2024, at 14:00 UTC. Bitlight […]
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Coin Center Warns of DOJ Overreach in Tornado Cash, Samourai Wallet Cases
The recent actions by the Department of Justice (DOJ) against non-custodial crypto wallet developers have sparked controversy and concern within the cryptocurrency community. According to Coin Center, these charges mark a significant shift from previous U.S. policies regarding money transmission, potentially impacting the liberty and privacy rights of developers and users alike. Coin Center: DOJ […]
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Samourai Wallet Co-Founder Keonne Rodriguez Pleads Not Guilty, Released on $1M Bail
On Monday, April 29, Keonne Rodriguez, co-founder of the non-custodial bitcoin wallet Samourai, entered a plea of not guilty to accusations of operating a money transmitter and engaging in money laundering. Rodriguez secured his release by posting a million bail and will be confined to his residence in Harmony, Pennsylvania, with his movements monitored […]
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Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuelan oil company PDVSA could use USDT to sidestep U.S. sanctions, Chivo Wallet denies hacking allegations, and Nubank expands its crypto functionality in Brazil. Venezuela Might Use USDT for Sidestepping Sanctions Venezuela is […]
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Zksnacks Bars US Users from Wasabi Wallet in Wake of Samourai Indictment
In a decisive move, Zksnacks announced on Saturday that it will block all U.S. residents and citizens from accessing its bitcoin mixer, Wasabi Wallet. This policy change comes as U.S. authorities intensify their crackdown on unregulated crypto activities, spotlighting the recent indictment of Samourai Wallet founders. Wasabi Wallet Withdraws from U.S. Market to Avoid Regulatory […]
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