Bitcoin Holds $26,000, Binance Restricts P2P to Russians

Results of the week for the cryptocurrency market
Results of the week for the cryptocurrency market

Bitcoin remained volatile, the FBI arrested the co-founder of Tornado Cash, later he was released on bail, Binance limited P2P operations to Russians, the difficulty of mining the first cryptocurrency updated an all-time high and other events of the outgoing week.

Bitcoin held the level of $26,000

This week, the first cryptocurrency was trading in the range of $25,400 to $26,800. At the time of writing, Bitcoin is worth over $26,000.

Hourly BTC/USDT chart on Binance exchange. Data: Trading View.

Most of the top 10 digital assets by capitalization ended the week in the red zone. Solana (-5.6%) and XRP (-3.2%) lost the most.

Data: CoinGecko.

The total capitalization of the cryptocurrency market is below $1.1 trillion. The Bitcoin dominance index is 49.1%.

The FBI arrested the co-founder of Tornado Cash. He was released on bail

On August 23, the US Department of Justice indicted two co-founders of the Tornado Cash cryptomixer, Roman Shtorm and Roman Semenov, of money laundering and violating sanctions.

Storm was taken into custody by the Federal Bureau of Investigation. He was later released on bail. Semyonov remains at large, but the U.S. Treasury Department’s Office of Foreign Assets Control has placed him on a sanctions list.

Binance restricted P2P operations to Russians and lost cooperation with Visa and Mastercard

Cryptocurrency exchange Binance has banned citizens of the Russian Federation from conducting transactions through its P2P platform with any currencies other than the ruble. It is not yet known whether the ban is temporary or permanent.

Amid reports of an investigation by the US Department of Justice in connection with a possible violation of US sanctions against Russia, Binance replaced the names of Sberbank and Tinkoff cards with green and yellow cards on the P2P platform. Later, the service also removed the “alternative” names of Russian banks.

According to Bloomberg, Mastercard and Visa are refusing to issue cryptocurrency payment cards for Binance amid regulatory problems of the exchange. Starting September 21, the company will stop supporting Binance Card in Latin America and the Middle East.

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Bitcoin mining difficulty hits all-time high again

As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 6.17%, updating the historical maximum at around 55.6 T.

The average hashrate for the period since the previous value change is 399.36 EH/s. The interval between blocks was 9.5 minutes.

Pantera Capital: Bitcoin will reach $147,800 after halving

On the eve of the expected halving in April 2024, digital gold may rise in price to $35,448 and then go into rally mode to $147,843. Pantera Capital analysts provided such forecasts.

The experts obtained the mentioned values ​​based on the Stock-to-Flow metric. The model predicts the value of bitcoin based on the stock-to-production ratio.

Also on ForkLog:

  • Experts named the most profitable countries for bitcoin solo mining.
  • Cryptocurrency holders have been warned about a vulnerability in WinRAR.
  • Analysts rated the “X” of the most successful Binance Launchpad projects.
  • The US DEA sent 55,000 USDT to the scammer by mistake.

The Aptos team introduced a “flexible” token standard

Developers of the first-tier blockchain Aptos (APT) announced the launch of Aptos Digital Asset (DA) standard tokens, which offer “unparalleled flexibility, composability and scalability.”

According to the statement, the new form of tokens allows for the implementation of seamless airdrops, individual asset pegging, and performance improvements.

Thai citizens will receive $300 in digital currency

Thailand’s parliament has chosen real estate tycoon and crypto advocate Sretta Tavisin as the new prime minister. During the election campaign, he promised to send out 10,000 baht (~$300) in digital assets to all citizens over 16 years old.

About 500 billion baht (~$15 billion) has been allocated for the government airdrop initiative. The distribution will be carried out in the national token, not cryptocurrencies.

What else to read?

ForkLog has published a chapter from the book Blockchain for Everyone. How cryptocurrencies, BaaS, NFT, DeFi and other new financial technologies work” by Doctor of Economics Artem Genkin and digital technology expert Alexei Mikheev.

The traditional digest collected the main events of the week in the field of cybersecurity.

The decentralized finance sector continues to attract increased attention from cryptocurrency investors. ForkLog collected the most important events and news of recent weeks in a digest.

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