Over 75% of Bitcoin in Circulation Are in Profit

Latest figures show that over three quarters of all existing bitcoin (76.05%) are in profit, meaning that the value is currently higher than last time it was moved. While this ratio fluctuates, historically it has remained above 50% for almost the entire history of Bitcoin. HODLing Bitcoin Pays Off As may be expected, there is a strong correlation between the ratio of bitcoin currently in profit and BTC price. During periods when bitcoin price has been pushing upwards to all-time and local highs then of course, profitability numbers will increase.…

Kraken Finds Critical Security Flaw in Trezor One and T Wallets

Kraken Security Labs has identified a critical security issue in Trezor hardware wallets which enables seeds to be extracted from the devices.  Kraken Finds Flaw in Trezor Wallets Kraken researchers claim they were able to access Trezor One and T wallet keys by manipulating the voltage in the micro-controller. These hardware components hold vital information, such as seeds, yet are not designed for such purposes. This vulnerability has been understood for some time, and has also been discovered on other hardware wallets. To exploit this bug, an attacker needs access…

Crypto Tax in 2020: A Comprehensive Guide

Paying crypto taxes is becoming increasingly difficult in 2020, as government tax authorities around the world continue to change their minds on how digital assets should be handled. To make things easier, we’ve put together a comprehensive guide to bring you up to speed on the latest changes. Crypto-assets have entered the mainstream in the past few years, attracting the attention of tax authorities in leading economies. Following a boom in trading and prices, the gains made from crypto-related deals and activities are starting to be counted toward taxable income.…

Coinmetrics Study Unveils Shocking Tether (USDT) Fact

The team at Coinmetrics has just released their latest findings on Tether, and its new all-time high velocity is not the only interesting thing they’ve discovered. Each USDT Token is Traded Approx 46 Times Per Year A study of USDT turnover reveals just how crazy the demand for Tether’s stablecoin is. According to Coinmetric’s tweet on January 31, they reported that every single USDT token changes hands roughly 46 times every year. The trailing 12 month velocity of @Tether_to on Omni, Ethereum and Tron has rapidly and consistently increased since…

Bitcoin Is Up 32% This Month – On Track for $152,000 Year-End?

As Jan 2020 comes to a close, bitcoin is up 32% this month. As one analyst points out, if this continues every month, BTC will reach $152,000 by the end of the year. Bitcoin Is Up 32% This Month In a tweet that garnered thousands of likes and replies yesterday, Bitcoin analyst and developer Crypto₿ull pointed out that bitcoin is up 32% this month. He added: If we go up 32% every month this year we will be at $152,000 in December Bitcoin is up 32% this month. If we…

Bank of Lithuania Looks into Central Bank Digital Currency

Bank of Lithuania may be the next entity to look into Central Bank Digital Currencies (CBDCs), after multiple banks worldwide have expressed interest. All Aboard the Central Bank Digital Currency Bandwagon Following preliminary interest from central banks in China, as well as India, Cambodia, and to an extent the European Central Bank, the Bank of Lithuania has given attention to digital assets issued and backed centrally. CBDCs may be a tool to bring the central bank’s digital money directly to non-financial institutions and even individuals, commented Aistė Juškaitė, principal economist…

IBM Announces New CEO, is This Good For Blockchain?

IBM CEO, Ginni Rometty, is stepping down after 8 years of service. She is being replaced by executive Arvind Krishna. Rometty has been a great supporter of the distributed ledger technology (DLT), but Krishna might take the company’s blockchain projects to another level. Krishna Has Played Important Role in Blockchain Development Blockchain has become one of IBM’s priorities under Rometty’s tenure, but Krishna will continue to encourage the development in this direction. In fact, Krishna has had more direct involvement with the DLT than Rometty, suggesting that the technology might…

Reason To Worry? Trezor Wallets Can Be Physically Hacked In Less Than 15 Minutes

Cold storage hardware wallets are considered to be the most secure way to hold Bitcoin and other cryptocurrencies. The main reason for that is because the private key is never exposed to the internet, unlike hot wallets. Trezor is believed to be the most popular hardware wallet, together with Ledger. During last October of 2019, Kraken Security Labs had announced that they had found a critical weakness in a few of Trezor’s cryptocurrency hardware wallet devices, namely the Trezor One and Trezor Model T. Today, they’ve released the details of this…

Bullish Sign For Bitcoin? Exchange Deposits Keep On Dropping

For many Bitcoin investors, hodling is the best long term strategy to avoid selling at a loss, especially during a rapid slump in price. However, a price surge with hodlers refusing to let go of their positions even when they are in profits means there is a huge positive sentiment among investors. Data from Glassnode, a cryptocurrency analytics firm, reveals that the number of Bitcoin on-chain deposits to exchange is decreasing as there are now fewer incentives to make investors sell. In last summer’s rally, unique daily exchange deposits reached…

Litecoin Price Analysis: LTC Surges 25% In A Week But Can Bulls Keep Up?

Among the top 20 cryptocurrencies, Litecoin is the best-performer after surging almost 15% under 24-hours. After correcting to $52 last weekend, buyers managed to keep Litecoin’s momentum alive. Litecoin’s latest surge allows trends in the same direction across trading pairs. LTC/USD: Litecoin Surged 15% To Overcome $64, Now Regrouping For More Gains Key Resistance Levels: $80, $100 Key Support Levels: $64, $52 Over the past few hours, Litcoin saw a sizeable increase after surging by about 15% to touch $70. At the moment, LTC price has dropped to $67 against…