According to BlockBeats, on September 13, Santiment posted on social media that the supply of Bitcoin and Ethereum mining wallets has been declining since the first half of 2024. With the recent mild rebound, their total supply will increase, which is a "strong signal" that the next bull market is coming.
● ARK Invest Report: Bitcoin’s current key support levels are $52,000 and $46,000
According to Cointelegraph, US investment management company ARK Invest warned in its latest monthly report that Bitcoin (BTC) is at a "critical moment" and faces a test of important support levels.
Reports indicate that BTC’s key price levels are $52,000 and $46,000. BTC’s failure to rebound significantly after falling nearly 9% in August worries bulls. BTC/USD no longer follows the classic bull market support levels of the 200-day moving average and short-term holder cost basis at $63,693 and $63,245 respectively. ARK Invest defines BTC’s overall stance as “bearish” and points to $46,000 as the last chance for support.
The report also noted that U.S. spot Bitcoin ETF holders face unrealized losses, and the cost basis of ETF participants is higher than the BTC price. Despite the bleak market outlook, ARK believes that the BTC price retracement is in line with historical norms, with low levels of short-term holder liquidations and favorable macroeconomic conditions. BTC's MVRV Z-score remains in "bull market territory," at 1.6 at the end of August, above the average of 1.42. As of September 13, BTC/USD was trading at around $58,000, down 1.9% on a monthly basis.
● Crypto Fear and Greed Index rises to 50, ending 17 days of "fear"
According to ChainCatcher, Alternative data showed that the Crypto Fear and Greed Index rose to 50 today, ending 17 consecutive days of "fear" and turning to a "neutral" state.
● SBF appeals fraud conviction and requests retrial
According to Odaily Planet Daily, SBF has formally appealed against its fraud charges. In a 102-page appeal filed on Friday afternoon, SBF's lawyers asked the U.S. Court of Appeals for the Second Circuit to overturn the original conviction and appoint a new judge for a retrial because the judge who heard his case was unfairly biased against SBF.
Last November, a New York jury convicted SBF of seven counts of fraud and conspiracy related to the collapse of its cryptocurrency trading platform in November 2022. In March of this year, U.S. District Judge Lewis Kaplan of the Southern District of New York (SDNY) sentenced SBF to 25 years in prison for the crimes, and he has currently served six months of his sentence.
● Ripple Chief Legal Officer: Ripple case is over, but fair notice defense remains valid
According to Foresight News, Ripple's chief legal officer Stuart Alderoty said that Ripple's case is over, but the "fair notice" defense is still valid for others. The U.S. Securities and Exchange Commission (SEC) cited the 2017 DAO report in an attempt to prove that it notified the industry in advance that "crypto-asset securities" needed to comply with U.S. securities laws. Seven years later, the SEC apologized to a federal judge for causing confusion by using essentially unclear terms.
● Grayscale GBTC welcomes net inflow of $6.7 million again after 55 days
According to BlockBeats, on September 14, according to Farside Investors data, Grayscale GBTC welcomed net inflows again yesterday after 55 days, recording US$6.7 million.
● Ethereum Foundation researcher Danny Ryan announces his resignation
According to WuSaid, Ethereum Foundation researcher Danny Ryan announced his resignation to end his seven years of contribution to the Ethereum ecosystem. He stated on GitHub that the reason for his departure was personal reasons and to make room for new opportunities, emphasizing that this decision does not reflect problems with Ethereum or the crypto industry.
Ryan has played an important role in key upgrades of Ethereum, including the launch of the Beacon Chain in 2021 and the implementation of the "Merge" protocol, and he has also actively participated in the progress updates of Ethereum Improvement Proposals.
According to Odaily Planet Daily, Christine Kim, vice president of Galaxy Research, summarized the 196th Ethereum core developer meeting and said that developers are seriously considering splitting the Pectra upgrade into two executions. Previously, the idea was rejected due to concerns about delaying the Verkle fork.
During the call, developers discussed the possibility of adding more EIPs to Pectra. If the upgrade is split, the first upgrade could be executed in February next year, covering all EIPs on Devnet 3, including EIP-7251, EIP-7702, EIP-6110, etc. The second upgrade will include EOF and PeerDAS, increase the number of blobs, and may also add other EIPs such as SSZ. The name of the second upgrade has not yet been determined, and developers are expected to make a final decision at the next ACD call.
● Binance: Crypto users should pay attention to "Clipper" malware
Binance blog published an article focusing on crypto security, and Binance pointed out that a global malware problem has been discovered, which seriously affects cryptocurrency transactions by changing the withdrawal address during the transaction. This malware is often called "Clipper malware" and intercepts data stored in the clipboard, mainly targeting cryptocurrency wallet addresses.
The Binance security team is actively addressing this issue through a number of measures:
- Blacklisting of suspicious addresses: The attacker addresses have been blacklisted to prevent further fraudulent transactions. This move has successfully blocked multiple withdrawal attempts by potential victims.
- User Notification: Affected users have been informed about the malware and are advised to check their devices for any suspicious software or plugins.
- Incident Reporting: Affected users are asked to share details about their incident to help us identify and analyze the malware and plugins involved.
- Continuous Monitoring: The Binance team continuously monitors new threats and updates security protocols accordingly.
