Indian Doctors Warn of Illegal Covid-19 Vaccine Sales for Bitcoin: Citizens Urged to Wait for Government Approved Vaccine

Indian Doctors Warn of Illegal Covid-19 Vaccine Sales for Bitcoin: Citizens Urged to Wait for Government Approved VaccineIndian doctors have warned that the sale of unauthorized Covid-19 vaccines on the black market, where vendors ask for bitcoin as payment, is illegal. According to the doctors, the unsanctioned marketing of the vaccine to the elite is prevalent in the state of Karnataka. Some doctors say the Indian government must intervene by tracking down […]
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EToro warns users it’s running out of crypto to trade due to ‘unprecedented demand’

Exchange platform eToro is struggling amid surging demand for crypto, sending an email to all users warning of possible trading limitations this weekend.

Israel-based exchange platform eToro is struggling to keep up with the demand from crypto traders according to an email sent to users earlier today.

“The unprecedented demand for crypto, coupled with limited liquidity, presents challenges to our ability to support BUY orders over the weekend.”

As a result, the platform is warning of “possible limitations to crypto BUY orders” and that “spreads on crypto assets may also be much wider than usual.”

EToro has become a victim of its own success. Yesterday marketing manager Brad Michelson revealed that in the previous 11 days, 380,000 new users had opened accounts and that trading volumes had surged 25 times higher than the same time in 2020. As of January 9, eToro boasted more than 17 million registered users.

Quantum Economics founder Mati Greenspan — formerly a market analyst for eToro — told Cointelegraph that the warning notice was “a symptom of a potential upcoming liquidity crunch.” He advised users on Twitter against trying to move funds off the platform.

Should eToro implement the foreshadowed measures, users will be restricted on their maximum exposure per cryptocurrency, and potentially be unable to place new buy orders. Greenspan explained that it simply means some users “might need to wait in order to buy in.”

Last week, the exchange restricted European users from margin trading due to increased market risks and increased the minimum deposit amount by 400% to $1,000 in an attempt to get on top of new user registrations.

Other exchanges are also seeing surging trade volumes, with Coinbase’s daily volume reaching $9.5 billion on January 12, up more than 50% from its previous all-time high of $6.5 billion on January 9. Binance has also powered past its peak of $23.7 billion, recording over $30 billion on January 12.

It is only a matter of time before we see other exchanges start to hit liquidity issues Greenspan believes, saying it is “highly likely” that we will see this situation occurring on other platforms in the near future.

Concerns around the limited Bitcoin supply available have risen to the foreground over the last six months with investment giant Grayscale snapping up Bitcoin at an alarming pace. The firm now has $20 billion under its control as its Bitcoin (BTC) buys outstrip mining production by almost three to one throughout December 2020.

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Kim Dotcom Discusses the Swelling Crypto Economy and His Plans to ‘Accelerate P2P Electronic Cash’

Kim Dotcom Discusses the Swelling Crypto Economy and His Plans to 'Accelerate P2P Electronic Cash'This week, chatted with Kim Dotcom, the founder of the now-defunct file hosting service Megaupload and the creator of the content monetization application called The Internet entrepreneur Dotcom is a big believer when it comes to the crypto economy and during the conversation, we discussed subjects like bitcoin cash, the recent Big Tech […]
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Top 100 Bitcoin addresses accumulated $11B more BTC in the past 30 days

Bitcoin’s top 100 richest addresses have snapped up almost 350,000 more BTC in the last 30 days.

The top 100 richest Bitcoin addresses are increasingly bullish, accumulating 16% more Bitcoin over the last 30 days. 

In total these addresses added 334,000 more Bitcoin to their bags, or around $11 billion worth.

The majority barely reacted to Bitcoin’s recent price drop from $41,000 to below $33,000. Only seven addresses conducted a transfer out of the wallet since the most recent all-time-high on January 10.

Of the addresses that have transacted in the last 30 days, only eight of them have more than ten transactions to their name since December 12.

Perhaps surprisingly, many of the largest addresses are yet to see a bull run, with eight of the top ten having received their first transaction later than September 2018. The newest in the top 100 is only two months old.

They’re not all individual whales however. The addresses include at least ten controlled by exchanges such as Huobi, Binance, Bittrex, and Kraken. The rest are believed to belong to a mix of institutional investors and wealthy hodlers, with it being almost impossible to differentiate between two. What is clear though, is that the big guys are not easily influenced by price or sentiment.

In order to make it into the top echelon of Bitcoin addresses, one must hold more than $336 million in BTC. Around $2.2 billion is required to hit the top ten.

Addresses within this prestigious list have often attracted attention for various reasons, including one that is believed to belong to Satoshi Nakamoto himself.

The third wealthiest address, with an untouched 94,506 BTC, created headlines back in September 2019 after Glassnode reported that 73,000 of the BTC in the wallet had been transferred from Huobi. It was presumed to be the richest non-exchange address.

According to BitInfoCharts, 64 of the top 100 have never seen a single satoshi transferred out.

These addresses, which currently control more than 2.5 million BTC (13.5% of circulating supply) with a value of almost $85 billion dollars, include 15 dormant addresses. Eleven are more than nine years old. Although no one can prove that the 300,000 BTC held by these addresses have been lost, most assume so.

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JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in US

JP Morgan Warns of Falling BTC Price With Bitcoin ETF Approval in USJP Morgan’s analysts say that the U.S. Securities and Exchange Commission (SEC) approving a bitcoin exchange-traded fund (ETF) is likely negative for bitcoin in the near term. There is optimism around the prospect of the SEC approving a bitcoin ETF under new leadership, the analysts say. SEC Approving Bitcoin ETF Could Be Negative JP Morgan […]
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