FLOW is up by more than 8% today, outperforming the other coins and tokens in the top 100 list. The broader crypto market has recovered from its poor performance this week. Bitcoin and Ether are trading in the red zone. FLOW outperforms the other major cryptocurrencies FLOW, the native coin of the Flow blockchain, emerged […]
The post FLOW leads the charge as broader crypto market experiences mixed performances appeared first on CoinJournal.
Published in
News
In Todays Headline TV CryptoDaily News:
UK enforces crypto tax break for foreigners
The U.K. is enforcing a tax exemption for foreign investors purchasing crypto through local investment managers or brokers. The tax break, announced in December, is a part of Prime Minister Rishi Sunak’s plans to turn the U.K. into a crypto hub.
Bitcoin assists in Musk's wealth plunge.
Elon Musk's wealth plunged to $137 billion due to the performance of Tesla shares, which saw another 11% drop last week before 2022 ended. Aside from the plummeting Tesla shares, the electric vehicle maker also lost a significant amount due to its Bitcoin holding, around $180 million.
FTX Japan to allow customers to withdraw funds.
FTX Japan customers will be able to withdraw their funds as of mid-February, the subsidiary of FTX Trading said in a blog post, making them some of the first customers of the collapsed crypto exchange to get their money back.
BTC/USD gained 0.7% in the last session.
Bitcoin gained 0.7% against the Dollar in the last session. The Stochastic indicator is giving a negative signal. Support is at 16474.3333 and resistance at 16728.3333.
The Stochastic indicator is currently in negative territory.
ETH/USD skyrocketed 1.4% in the last session.
The Ethereum-Dollar pair exploded 1.4% in the last session. According to the Stochastic-RSI, we are in an overbought market. Support is at 1186.291 and resistance at 1211.211.
The Stochastic-RSI is signalling an overbought market.
XRP/USD skyrocketed 3.7% in the last session.
The Ripple-Dollar pair exploded 3.7% in the last session. According to the CCI, we are in an oversold market. Support is at 0.3338 and resistance at 0.3423.
The CCI points to an oversold market.
LTC/USD exploded 6.0% in the last session.
The Litecoin-Dollar pair skyrocketed 6.0% in the last session. The ROC is giving a positive signal. Support is at 68.0833 and resistance at 72.8433.
The ROC is currently in positive territory.
Daily Economic Calendar:
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. The US 3-Month Bill Auction will be released at 16:30 GMT, the US 6-Month Bill Auction at 16:30 GMT, and Germany's Unemployment Change at 08:55 GMT.
US 6-Month Bill Auction
The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.
DE Unemployment Change
The Unemployment Change is a measure of the absolute change in the number of unemployed people using seasonally adjusted data. A rise in this indicator has negative implications for consumer spending.
DE Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market. Germany's Unemployment Rate will be released at 08:55 GMT, Japan's Foreign Bond Investment at 23:50 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT.
JP Foreign Bond Investment
The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
JP Foreign Investment in Japanese Stocks
Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Published in
News
Many well-known crypto community members have been making predictions on what would happen in the 2023 market during the bear market of 2022.
Published in
News
Bithumb is a South Korean cryptocurrency exchange that was founded in 2014. Lee Jung-Hoon, who is the former…
Anyone who has traded or invested in cryptocurrencies may know about wallet addresses. When you set up a Metamask or a Trust wallet account, an address is automatically generated. More so, users who keep their crypto tokens on centralised exchanges such as Binance, Coinbase, and KuCoin also get wallet addresses.This article aims to uncover the behind-the-scenes of generating a wallet address.From a layman’s perspective, an address is synonymous with your bank account or an email address. A crypto wallet address gives you a unique digital identity on the internet, specifically, a blockchain network. Your address enables you to sign transactions on the blockchain, receive funds, and send cryptocurrencies to other users.A Closer Look at Ethereum AddressesEthereum is the second largest blockchain platform by market capitalisation, closely behind Bitcoin, the first ever built blockchain-based cryptocurrency. Ethereum is equally one of the highest used platforms with many use cases and projects ranging from decentralised finance, metaverse, NFTs, etc. That said, it makes sense to study how Ethereum addresses are generated by DApps such as Metamask.By design (from the yellow paper), Ethereum addresses are hexadecimal characters of 20 bytes or 40 characters long. They are typically prefixed with 0x, making them 42 characters long. An example address is 0x6B96f06B72D5A21d64b9D460534977799c332434. These 42 long characters are generated using public key cryptography, also known as asymmetric cryptography. In an asymmetric cryptographic scheme, two keys (a public and a private key) are needed to provide secure encryption. It turns out that your address is the output of your public key.Let's Get a Bit TechnicalTo generate an Ethereum address, you needA 256-bit (or 32-bytes) random private key. A private key can come in several formats: a binary string, a mnemonic, or a secret hexadecimal string.You then pass your 256-bit private key through an Elliptic Curve Digital Signature Algorithm (ECDSA), the same curve used in generating Bitcoin addresses. The ECDSA is a cryptographic algorithm that offers robust and secure encryption for communications.The output of the ECDSA (public key) is then hashed using a hashing function, specifically Keccak-256.Your Ethereum address is the last 20 bytes or 40 characters of the hashed output, prefixed with 0x.Practical ImplementationWe shall use one of the popular Ethereum crypto libraries. With this utility, we can perform cryptographic operations such as hashing, signing transactions, and generating public keys of different algorithms.Let's start by initializing our project folder with node.js and installing the library.npm install ethereum-cryptographyPart 1: Generating Private KeyWe need to generate a random 256-bit or 32-byte (8 bits equals 1 byte) hexadecimal string using a cryptographic random number generator (RNG) function. See the code snippet below.Private key generationRunning the code (node index.js) gives you the below output — your private key.Your private keyPart 2: Generating Public Key using ECDSAIn this part, we shall derive a public key for our private key using the secp256k1 curve. See the code below.Public key generationThe output is a 64-byte integer.Your public keyPart 3: Hashing the Public Key using Keccak-256The last technical part is hashing the output of the secp256k1 curve using the famous keccak-256 hashing algorithm. And finally, we take the last 40 characters from the hash (digest)Keccak-256 of the public keyThe output value (0xdf86c04b91b0d2711158d89bf62387f6bba0fb8b) is our Ethereum address.Final output (Ethereum address)PS: I have successfully received 0.5 MATIC tokens on this address using the Polygon Test blockchain. See the screenshot below.ConclusionIf you've made it this far, I hope you now understand how wallet providers (such as Metamask) and crypto exchanges (such as Binance) provision new addresses for every crypto user. With these simple steps, anyone can generate their Ethereum addresses as there are 2^ 256 possible addresses to be owned. It is crucial to generate a powerful private key that is impossible to brute-force or hack.Check out our new platform 👉 https://thecapital.io/https://twitter.com/thecapital_iohttps://medium.com/media/3b6b127891c5c8711ad105e61d6cc81f/hrefUnderstanding & Generating Ethereum Addresses was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
ETHE's discount to net asset value has been in a general decline since the end of 2020, but accelerated in Q4 2022.
The post Grayscale Ethereum Trust nears record -60% discount appeared first on The Block.
Published in
News
The SCB said it did not order FTX to create new crypto tokens worth hundreds of millions, as alleged by the exchange.
More than 900 cryptocurrencies vanished last year due to the harsh bearish market conditions and coordinated rug pulls…
The World Economic Forum (WEF) has said that crypto and blockchain technology will continue to be an integral component of the modern economy.
WEF Talks Crypto ‘Ice Age’
On Monday, the WEF published a blog detailing what the future holds for the crypto industry. The blog covered points about how the industry has already established itself as a key player in the financial sector and summed up how the industry will be moving forward in light of the catastrophic events of 2022.
The blog detailed how 2022 turned out to be way worse than a mere “crypto winter” for most investors, as not one but three major catastrophic crashes wiped out nearly $2 trillion worth of assets from the speculative market. The international organization acknowledged that the year had proven right most policymakers, who had repeatedly issued warnings about the high-risk nature of the industry. WEF opined that the end of 2022 probably marked the end of crypto speculation due to the multiple hits the industry took this year.
An excerpt from the blog reads,
“To the diehard crypto utopians (and some crypto-anarchists), 2022 was not just another “crypto winter,” but more of an ice age. Along with a broad loss of confidence, economic value and a market littered with the tombstones of failed firms and projects, perhaps the era of crypto speculation will remain frozen in ice.”
Web2 vs. Web3
The WEF also talked about the future of crypto while comparing it with the internet and the dot-com bubble burst of the early 2000s. That incident famously wiped out more speculative companies and pushed a more stable and durable version of the internet to the forefront. Similarly, the organization believes that the struggles of 2022 could open gates for “responsible, always-on internet finance,” claiming that countries that enforce responsible regulation of the sector will emerge as future leaders.
WEF wrote,
“Just as it took the dot-com bubble bursting in the early 2000s to hand over the future of the internet to more durable companies, business models, and use cases, perhaps 2022 marks a handover of crypto technology and blockchain infrastructure to steadier hands.”
Staying Power Of Blockchain
The blog also pointed out the positives of the large-scale institutional adoption of crypto and blockchain technology that happened in 2022. It mentioned, by name, JPMorgan and the aggressively pro-crypto business strategy the financial giant adopted this year. According to the organization, crypto technology will become an inevitable part of innovation and business models, similar to cybersecurity and digital transformation mandates for major companies.
WEF wrote,
“Indeed, as a test of the staying power of digital assets and blockchains at the core of financial services (and other areas of the global economy), watch what the big banks and mature financial services firms do, not what they say.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Published in
News
Data shows a Litecoin whale has withdrawn $32 million in LTC from Binance, a sign that could be positive for the latest rally. Litecoin Whale Takes Out $32M In LTC From Binance As per data from the crypto transaction tracker service Whale Alert, a massive LTC transfer has taken place during the past day. In total, the transaction involved the movement of 425,660 LTC on the blockchain, worth around $32.1 million at the time of the transfer. Related Reading: Billion-Dollar Hedge Fund Is Betting Against Bitcoin And Grayscale, Not Just USDT Usually, such large transfers are a sign of activity from the whales, and due to the sheer scale of coins typically involved in them, the movements can sometimes have visible impacts on the price of Litecoin. However, which way the price will respond to a transfer depends on the intent behind it. Here are a few additional details regarding the latest whale transaction that may shed some light on its purpose: Looks like this massive transfer only took a negligible fee of 0.00000224 LTC to be possible | Source: Whale Alert As can be seen above, this Litecoin transaction was sent from a wallet attached to the crypto exchange Binance, and its destination was an unknown wallet. An unknown address is any address not affiliated with a known centralized platform and is thus likely to belong to a personal wallet. Related Reading: Bitcoin Taker Buy/Sell Ratio Can’t Give Any Clear Signals As Demand Remains Low Transfers of this nature, where coins move from exchanges to personal wallets, are called exchange outflows, and since holders usually withdraw from these platforms for accumulation purposes, outflows can have a bullish effect on the price. Here, the exchange outflow was done by a whale, so it may mean that this humongous investor is planning to hold onto their Litecoin for an extended period of time. In the few days since the new year has started, LTC has been rallying up with the coin already reclaiming $75, so the whale not selling here to take advantage of this profitable opportunity and instead opting to accumulate suggests conviction from the investor that there is more to come for LTC. There has also been another bullish signal for Litecoin recently, and it’s that the monthly LTC transactions on BitPay, the largest crypto payments processor, have gone up by 109% over the past year. This means that the network has observed some sharp growth in terms of adoption, a sign that should be constructive for the price in the long term. In just one year, monthly Litecoin use, with the worlds largest crypto processor, increased 109% 🚀 pic.twitter.com/DBXe6OTdib — Litecoin (@litecoin) January 2, 2023 LTC Price At the time of writing, Litecoin is trading around $75, up 8% in the last week. The value of the crypto seems to have sharply surged in the last few days | Source: LTCUSD on TradingView Featured image from Rémi Boudousquié on Unsplash.com, chart from TradingView.com
Published in
News
Disclaimer: As a news and information platform, also aggregate headlines from other sites, and republish small text snippets and images. We always link to original content on other sites, and thus follow a 'Fair Use' policy. For further content, we take great care to only publish original material, but since part of the content is user generated, we cannot guarantee this 100%. If you believe we violate this policy in any particular case, please contact us and we'll take appropriate action immediately.
Our main goal is to make crypto grow by making news and information more accessible for the masses.
Our main goal is to make crypto grow by making news and information more accessible for the masses.