Yesterday BitMEX received some very bad news, today Bitcoin flees the exchange. We tell you what happened with the crypto exchange.
BitMEX may be experiencing one of the worst days in its history. About $421 million in Bitcoin, 40,000 BTC, have fled from BitMEX after the latest news.
BitMEX in trouble and Bitcoin falling
Concerns about BitMEX increase and Bitcoin reacts
As you may remember, yesterday we reported in CryptoTrend that the crypto exchange would be facing charges from the CFTC and the New York prosecutor’s office.
The Bitcoin exodus started almost immediately after the charges were announced, but unfortunately for the crypto exchange, it didn’t stop.
In fact, shortly after the news, Glassnode reported via Twitter that 23,200 Bitcoins were removed from BitMEX in a single hour.
But, today, Glassnode offered an update via Twitter where it noted that a total of almost 40,000 BTCs have been withdrawn since the announcement.
The data firm also called the event the largest hourly outflow they have seen since the crypto exchange to date.
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50 BTCs from the Satoshi crypto era appear
Well, if even the crypto market hasn’t surprised you, today 50 bitcoins were moved from the Satoshi era to Bitfinex.
This was reported by BTCparser, a Telegram bot that tracks Bitcoin transactions. Apparently those 50 Bitcoins were extracted in May 2010 and are therefore known as a Satoshi-era Bitcoin.
Looking back, in 2010 the Bitcoin rating was very low. Consequently, if the owner sold all his crypts at Bitfinex, he would make half a million dollars in net profit.
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Vitalik Buterin: At this moment Ethereum is useless
Today Vitalik Buterin, co-founder of Ethereum, noted that crypto is currently „almost unusable“ for many types of applications and projects.
„L1 is almost unusable for many kinds of applications, and there is no path other than L2 that can lead to scalability in the short to medium term,“ Buterin wrote in an Ethereum development thread today.
Buterin refers with L1 to the base protocol, i.e., the Ethereum Blockchain. Therefore, L2 refers to any protocol built on top of Ethereum.
In this sense, Buterin wanted to emphasize that, while Ethereum 2.0 is coming, the actual scale improvements will not be ready for several years.
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Trump Has COVID and Global Markets Plummet
Today the president of the United States, Donald Trump, reported on his Twitter that he had tested positive for COVID-19.
A few minutes after the announcement, the global markets turned red as Wall Street futures fell.
Sentiment probably accompanied the announcement that the $2.2 billion stimulus package was not approved after negotiations between Democrats and Republicans reached an impasse.