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Crypto Price Today May 6: Crypto Bulls Clash with Resistance

06-May-2024 By: Lokesh Gupta
Crypto Price Today M

Cryptocurrency prices experienced a surge in the 24 hour

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Crypto News Key Highlights:

  • Recently, a dormant Bitcoin wallet from the era of Satoshi Nakamoto's activity transferred 687 BTC ($43.9 million) to two addresses. Such movements from old wallets often pique curiosity, with speculation of links to Satoshi. Experts suggest they're likely early miners or investors cashing out. Over 1.75 million BTC wallets inactive for over a decade hold around $121 billion. Some have recently become active, transferring holdings, possibly for profit.

  • "In 2023, Chainalysis notes a significant 46% drop in ransomware payments, attributing it to heightened cyber resilience among organizations and the widespread availability of decryptors. Victims are displaying increased reluctance to comply, bolstered by sanctions and law enforcement crackdowns. However, challenges remain as certain strains continue to evade detection, resulting in substantial financial losses."

  • Vodafone aims to revolutionize smartphones by integrating blockchain into SIM cards , envisioning 20 billion mobile operations by 2030. This initiative aligns with trends merging telecom with blockchain, enhancing security and enabling widespread crypto wallet adoption. Additionally, Vodafone's alliance with Microsoft underscores its commitment to innovation and expanding user services.

  • Bitcoin achieves one billion transactions , marking its 15-year history. Despite excluding Lightning Network transactions, Bitcoin's milestone underscores its longevity and dominance. Ethereum poses a significant rival, processing two billion transactions since its 2015 launch. Bitcoin's recent surge in daily transactions correlates with events like the Halving and introduction of Bitcoin Runes.

  • Two wallets linked to bankrupt FTX exchange and Alameda Research moved $8.3 million crypto: FTX transferred $2 million XAUT to Wintermute, while Alameda sent $6.3 million Ether to unknown addresses. Purpose unclear, but ahead of FTX debtors' filing deadline, potentially providing insight into creditor compensation after $8.9 billion loss.

  • Hong Kong's recent launch of spot Bitcoin and Ether ETFs has sparked interest in Asian traders. Speculation arises that mainland Chinese investors could access these ETFs through Stock Connect. Despite China's anti-crypto stance, discussions suggest potential avenues for Chinese investors, amid a push for alternative assets.

  • Jack Dorsey, Twitter co-founder, has departed from Bluesky's board, the decentralized social media platform he initiated and funded in 2019. Bluesky confirmed his exit without providing reasons. Dorsey, earlier dismissing his involvement, is notably following Elon Musk on social media, suggesting potential reconciliation despite past criticism.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Crypto Prices May 6: BTC Defies Losses, Holds Ground at $64K

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