Sara Sethiya
25-12-2024
BlackRock’s iShares Bitcoin ETF (IBIT) recorded its largest-ever outflow of $188.7 million on Tuesday, sparking concerns about future market implications. US-based spot Bitcoin ETFs, including Fidelity’s FBTC and Ark Invest’s ARKB, faced consecutive outflows for the fourth day, with over $1.5 billion withdrawn recently. However, the crypto market showed signs of recovery, with Bitcoin currently trading at around $98,297.66, with an 4.69% increase from the past 24 hours as traders engaged in a Santa Claus rally.
Russia has extended its winter crypto mining ban to a six-year period due to rising energy consumption. From January 1, 2025, to March 15, 2031, mining will be prohibited in regions like Dagestan, Chechnya, and parts of the Donetsk and Luhansk republics. Additional restrictions will apply in Irkutsk, Buryatia, and Zabaikalsky Krai from January 1 to March 15 in 2025, and from November 15 to March 15 in subsequent years. The ban aims to manage the country’s energy resources efficiently.
Ethereum is set for a major upgrade with Pectra, scheduled for Q1 2025. This upgrade will merge the network’s execution and consensus layers, improving scalability, security, and performance. After extensive revisions to Ethereum Improvement Proposals (EIPs), Pectra is ready to roll out. Following this, Ethereum’s evolution continues with the Fusaka upgrade. With Ethereum's Layer-2 solutions thriving in the DeFi space, Pectra’s enhancements could provide a much-needed boost. At the time of writing, ETH is trading at $3,512.80, marking a 3.67% increase in the last 24 hours.
A security alert has been issued after a malicious ad campaign targeted Pudgy Penguins users, coinciding with a rise in the token's price. Users attempting to access a Singaporean news site are being redirected to a fake Pudgy Penguins website. The attack works by distributing harmful ads through the Google ad network, which loads a code that checks for Web3 wallets. Upon detecting a wallet, users are redirected to a fraudulent site. While the campaign is currently focused on Pudgy Penguins, other projects may also be targeted in the future
Sara Sethiya is an experienced crypto journalist with five years of experience in blockchain research, price movements, and market analysis. With a background in mass communication and journalism, she specializes in data-driven news articles, in-depth market reports, and SEO-optimized content. As a team lead and content writer at CoinGabbar, she examines on-chain metrics, evaluates liquidity trends, and analyzes tokenomics to uncover market patterns. Her analytical approach helps traders and investors interpret market shifts, identify potential opportunities, and understand the broader impact of blockchain innovations on the financial ecosystem.
Sara Sethiya is an experienced crypto journalist with five years of experience in blockchain research, price movements, and market analysis. With a background in mass communication and journalism, she specializes in data-driven news articles, in-depth market reports, and SEO-optimized content. As a team lead and content writer at CoinGabbar, she examines on-chain metrics, evaluates liquidity trends, and analyzes tokenomics to uncover market patterns. Her analytical approach helps traders and investors interpret market shifts, identify potential opportunities, and understand the broader impact of blockchain innovations on the financial ecosystem.
1 month ago
Russia Extends Crypto Mining Ban Until 2031 for Energy Management
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