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๐ฒ๐พ Cryptocurrency miners in Malaysia have stolen electricity worth 3.4 billion ringgit (~$724.9 million) from 2018 to 2023, reports Malay Mail. Deputy Minister of Energy Transition Akmal Nasir stated that such activities harm the country and have been expanding recently. โก๏ธ Electricity thefts often go unnoticed due to the lack of local accounting, but energy companies have methods to detect unusual consumption. Confiscated equipment was also showcased, including 2022 items valued at 2.2 million ringgit (~$470,000). According to current legislation, all devices will be disposed of. Combating electricity theft is a priority alongside increasing "green" generation from renewable sources. ๐ฟ๐
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Since the beginning of Bitcoin's correction, the cryptocurrency exchange Binance has increased its reserves by 41,000 BTC. ๐ฐ This is who was buying when others were selling. ๐๐ช
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Bitcoin Won't Buckle From Mt. Gox and Germany Sales, Analysts Say Will Germany's liquidations and the massive Mt. Gox repayments tank Bitcoin's price? Analysts are optimistic that BTC will hold up.
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Want to make money in a fun and easy way? ๐TON Boost now has 3 million users and the app is working smoothly! โ Click here to find TON BOOST
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๐ Bitcoin Whales Are On the Move Again! ๐ต๏ธโโ๏ธ CryptoQuant analysts reveal that Bitcoin long-term holders are amassing BTC at their fastest monthly rate since April 2023, with a growth rate of 6.3%! ๐ ๐ Key Insights: โช๏ธDespite increased market supply from seized bitcoins by German and U.S. governments and the Mt. Gox exchange fund distribution, whale accumulation is on the rise. โช๏ธThe growing demand from long-term holders is stabilizing Bitcoin's price, which currently ranges between $58,000 and $59,000, down from a peak of $71,000. โช๏ธAnalysts suggest this whale activity could signal a potential bottoming of Bitcoin's price. ๐ก Market Impact: โช๏ธ Whales are less willing to sell after experiencing losses post the $70,000 peak in early June. โช๏ธStablecoin liquidity growth is still lagging, implying it might take longer for Bitcoin to start a new upward trend.
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