Ethereum’s Istanbul Hard Fork Completed
In a moment that had many in the crypto world buzzing, Ethereum’s much-awaited shift to the Istanbul upgrade was successfully executed when the network registered block #9069000 late Saturday night. This update aims to bolster the network’s capacity to a potential 3,000 transactions per second while integrating with the privacy token Zcash. This means Ethereum is strutting its stuff in the privacy department! Vitalik Buterin, Ethereum’s co-founder, believes this represents a significant stride towards improved scalability without compromising decentralization.
Upbit’s Stolen ETH Shenanigans
The drama unravels for South Korean exchange Upbit after 342,000 ETH were stolen. The stolen funds are being funneled through unknown wallets, with transfers of 10,000 and 1,001 ETH units regularly occurring. Rumors abound about an insider job rather than a breach from the outside – ironic that in the world of crypto, when funds are moved with such stealth, trust becomes an elusive commodity.
France’s Central Bank Digital Currency Experiment
With wallets diggin’ deep, the Bank of France is on the brink of testing a central bank digital currency (CBDC) in the first quarter of 2020. Governor François Villeroy de Galhau made it clear that this digital euro test won’t involve retail payments – but rather financial institutions. He insisted, “We need to keep a watchful eye on private initiatives. No, thank you, Libra.” France might just pioneer the CBDC scene, ensuring they grab headlines before anyone else does.
Hodlers Going Strong
According to a report that might give die-hard Bitcoin enthusiasts a reason to rejoice (or scratch their heads), a staggering 64% of Bitcoin hasn’t moved since 2018. Yes, you read that right. This trend portrays bitcoin holders as the ultimate champions of patience, with prices swinging dramatically from lows of $3,100 to peaks nearly five times that amount within six months last year! Analyst Rhythm candidly referred to them as “Hodlers of last resort” and aptly noted how “insane” this behavior is in the volatile realm of crypto.
Deutsche Bank’s Eye on the Crypto Future
A recent study from Deutsche Bank has sparked chatter regarding the prospect of digital currencies replacing fiat by 2030. With growing demand for anonymity and decentralization, could we be riding the wave toward a cashless future? The full picture remains murky, as regulatory challenges and the looming threat of cyberattacks cast shadows on the treasury of crypto aspirations.
Celebrity Quotes of the Week
In this week’s quotable moments, we saw figures such as Tim Draper passionately advocating for unconventional thinkers like Ross Ulbricht: “Free Ross, baby! Get him out!” Meanwhile, not all optimism was shared, with Jason Williams of Morgan Creek Digital declaring that the Bitcoin halving next May might be just a “non-event.” Talk about a mixed bag.
Market Snapshot
As the week winds down, Bitcoin is trading at $7,602.68, Ether holds steady at $150.47, and XRP is lingering at $0.23. The total market cap sits at approximately $205.8 billion. Top gaining altcoins included Energi, HedgeTrade, and Enjin Coin, while ILCoin, Silverway, and Thunder Token faced the heat on the losing end.
FUD Alert!
In news that echoes caution, Canada’s crypto mining firm Great North Data has filed for bankruptcy, drowning in liabilities higher than its assets. Meanwhile, a new malware tied to North Korea was uncovered, targeting MacOS users engaged in crypto trading, furthering the narrative that where there’s crypto, there’s often risk. So stay safe out there!
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