Ethereum Breaks Above $1300: Could Reach $1800 Soon?

• Ethereum’s price has been on the rise, recently breaking above the $1300 resistance level.
• Technical analysis suggests that a short-term correction is probable, with the 200-day moving average around the $1400 mark and the 50-day moving average around the $1300 mark being potential turning points.
• Ethereum’s price could soon reach the $1800 level, however, investors should be mindful of the potential for a correction.

Ethereum has been on a major price rally over the past few weeks, with the price recently breaking past the $1300 resistance level. The bullish sentiment has been echoed by technical analysis, with indicators such as the RSI in overbought conditions suggesting that a short-term correction may be in order. If so, the 200-day moving average around the $1400 mark and the 50-day moving average around the $1300 mark could be potential turning points.

The overall trend for Ethereum remains positive, however, with the cryptocurrency on track to reach the $1800 level soon. This would mark a major milestone for the cryptocurrency, and a sign of a strong recovery from the bear market of 2018. Despite this, investors should be mindful of the potential for a correction, and be sure to monitor the technical indicators closely.

On the fundamental side, Ethereum has seen some major developments in recent weeks. The upcoming Istanbul hard fork, which is set to occur in late 2019, is expected to improve the network’s scalability, allowing for more transactions per second with lower transaction fees. Additionally, Ethereum 2.0 is set to be released in 2020, bringing with it a major upgrade to the network’s underlying consensus algorithm. This could prove to be a major catalyst for Ethereum’s price in the future, and is something that investors should be looking out for.

Overall, Ethereum’s price has been on an impressive run lately, and there is a good chance that the cryptocurrency will hit the $1800 mark soon. However, investors should be aware of the potential for a short-term correction, and be sure to monitor the technical indicators closely. With the upcoming hard forks and Ethereum 2.0 likely to bring some major improvements to the network, the long-term outlook for Ethereum remains positive and investors should keep an eye on the cryptocurrency in the coming months.

Binance Burns Over $620M in BNB, Pushing Towards Goal of 100M Tokens

• Binance has burned 2.064 million of its native BNB cryptocurrency, worth approximately $620 million.
• This is the largest BNB burn since the record-setting 14th burn two years ago.
• Binance has a goal to reduce the overall BNB in circulation to 100 million, and the 22nd burn helps it reach that goal.

Binance, the world’s leading cryptocurrency exchange, recently announced its 22nd BNB burn. The burn removed over two million BNB tokens from circulation, worth almost $620 million at today’s prices. This is the largest BNB burn since the record-setting 14th burn two years ago.

The BNB token is Binance’s native cryptocurrency. It can be used to pay fees on the exchange, as well as to purchase cryptocurrency and other products. Binance has been running regular BNB burns since 2017, and the goal is to reduce the overall BNB in circulation to 100 million.

For the 22nd burn, 7,181 of the 2.064 million BNB tokens burned were from the company’s Pioneer Burn Program. This program was introduced in 2020 and helps people who have lost access to their BNB tokens. People can submit requests through the customer service page and are approved after a review process.

The BNB token has seen tremendous growth since its launch. The price of BNB has risen from just over $1 in 2017 to a high of over $500 in 2021. This makes Binance’s BNB burn one of the most successful cryptocurrency projects in the world.

Binance’s BNB burn is just one of the many ways it is trying to create a more secure and efficient cryptocurrency ecosystem. The company also offers a range of products and services, such as a decentralized exchange, margin trading, and even a range of stablecoins.

By burning BNB tokens, Binance is trying to create a more secure and efficient cryptocurrency ecosystem. The BNB burns are also beneficial for holders of the token, as it helps increase its scarcity and, in turn, helps increase its price over time.

Overall, Binance’s 22nd BNB burn was a huge success. It removed over two million of its native token from circulation, and the company is well on its way to achieving its goal of reducing the overall BNB in circulation to 100 million. This will no doubt be a major milestone for Binance, and it will be interesting to see how the price of the BNB token will react in the coming days and weeks.

Ethereum Launches Shanghai Testnet for Validator Staking Withdrawals

• Ethereum developers are working to launch a Shanghai public testnet in early February.
• The upgrade seeks to enable validator staking withdrawals, which are currently lacking in the network.
• The hard fork would allow users to access coins that have been staked on the Ethereum network.

Ethereum is preparing to launch a public testnet in Shanghai early February, in a bid to enable validator staking withdrawals. This is a major upgrade to the Ethereum network, and is seen as the highest priority for the first quarter of 2023.

The Ethereum network currently lacks the feature of validator staking withdrawals, which the Shanghai upgrade seeks to address. This feature would allow users to access coins that have been staked on the Ethereum network, which had become briefly inaccessible as part of the Merge in September. The planned hard fork would then enable withdrawals from these coins.

The developers have set a tentative timeline for the Shanghai upgrade, which is scheduled for March 2023. In order to ensure that the testnet runs smoothly, the developers are targeting early February as the launch date. The public testnet will be open to all users for testing, and the developers are confident that the upgrade will be successful.

The Shanghai upgrade is a major step forward for the Ethereum network, and is expected to lead to greater network security, scalability, and usability. It will also make it easier for users to access their coins, and make validator staking withdrawals more secure and efficient.

In addition to the Shanghai upgrade, the Ethereum developers are also planning to launch other upgrades, such as the Istanbul hard fork and the Berlin hard fork. These upgrades will focus on further increasing network scalability, and adding additional features to the network.

The Ethereum developers are confident that the Shanghai upgrade will be a success, and are looking forward to seeing the improvements it brings to the network. They also believe that the upgrade will be a major step forward in the development of the Ethereum network, and will help it become more secure, efficient, and usable.

SEC Files Limited Objection Against Binance’s $1 Billion Buyout of Voyager

• The U.S. Securities and Exchange Commission filed a limited objection and reservation of rights against the planned Binance buyout of Voyager Digital in a deal valued at around $1 billion.
• The SEC argued that the agreement lacks details on Binance US’s ability to close the transaction.
• The SEC is increasing its efforts to regulate the crypto industry.

The U.S. Securities and Exchange Commission (SEC) has stepped up its efforts to regulate the crypto industry, filing a limited objection and reservation of rights against the planned Binance buyout of Voyager Digital. The deal is valued at around $1 billion.

The SEC filed the objection on Jan. 4 and argued that the asset purchase agreement fails to include sufficient detail about Binance’s ability to close the transaction. The agency noted that the agreement does not include information about Binance US’s ability to „consummate a transaction of this magnitude, which the Debtors value at $1.022 billion, including the nature of Binance’s capitalization and financial resources.”

The SEC further stated that the agreement does not provide enough detail regarding the proposed transaction, which would result in a „change of control“ of Voyager Digital. The agency argued that the agreement could also be deemed an unregistered securities offering.

The agency also noted that the agreement does not address the risks associated with the use of digital assets and the “inherent risks” associated with the transaction. The SEC also highlighted the potential risks associated with the purchase of Voyager Digital’s assets, including the potential for material market losses.

The SEC’s filing is the latest move in its attempt to regulate the crypto industry. The agency has been ramping up its efforts to protect investors from potential fraud and manipulation. In December, the SEC filed a lawsuit against Ripple Labs for allegedly violating securities laws by selling XRP tokens.

The SEC is also currently investigating a number of other crypto-related companies, including Coinbase and Kraken. The agency is reportedly looking into potential violations of securities laws related to the companies’ operations.

The SEC’s filing against Binance’s U.S. division is a further sign of the agency’s increasing efforts to regulate the crypto industry. The regulator is likely to continue to ramp up its efforts to protect investors and ensure that crypto transactions are conducted in a manner that is compliant with securities laws.

Magic Eden NFT Marketplace Experiences Security Breach, Data Secure

• Magic Eden, a Solana-based NFT marketplace, experienced an incident where pornographic images and stills from The Big Bang Theory were displayed instead of NFT collections.
• After speculation that the NFT marketplace had been compromised, Magic Eden clarified that the incident was caused by a third-party image hosting provider supposedly experiencing a security breach.
• Magic Eden assured users that the platform had not been hacked and that all its systems were secure.

Magic Eden, a Solana-based non-fungible token (NFT) marketplace recently experienced an incident that caused confusion and panic among users. The incident occurred when users found that instead of the expected NFT collections, pornographic images and stills from the award-winning comedy series The Big Bang Theory had been displayed on the platform.

This bizarre situation quickly caused speculation among users that Magic Eden had been hacked and compromised. To clarify the incident and address the public’s concerns, the NFT marketplace took to Twitter to assure users that the platform had not been hacked and that all its systems were secure. The team stated that the incident was caused by a third-party image hosting provider supposedly experiencing a security breach, resulting in the inappropriate images being displayed on the platform.

The team apologized to users for the incident and urged them to contact support if they had any further questions or concerns. They also reassured users that their funds and data were safe and secure. Magic Eden also took the opportunity to educate users on the importance of using secure third-party services that protect user data.

The incident has been resolved and the NFT platform is now back to normal. However, it is a reminder to users to be mindful when using third-party services and to always ensure that their data is secure.

US Authorities Investigate Crypto Transfers from Wallets Linked to SBF

• US authorities are planning to investigate suspicious crypto asset transfers from wallets linked to the disgraced founder of FTX and Alameda Research, Sam Bankman-Fried.
• The wallets are said to have moved ERC-20 tokens such as YFI, AAVE, and WETH.
• SBF denied having any access to the said wallets.

The US authorities have reportedly launched an investigation into suspicious crypto asset transfers from wallets linked to Sam Bankman-Fried (SBF), the disgraced founder of FTX and Alameda Research. According to Bloomberg, the authorities plan to examine several wallets that are possibly connected to Bankman-Fried and have moved ERC-20 tokens such as YFI, AAVE, and WETH.

Bankman-Fried is currently on bail under strict rules and living with his parents after being released on a $250 million bond. He has broken his three-week Twitter silence by recently posting a tweet in which he denied having access to the said wallets and any connection to the suspicious transfers. He noted that the investigation might take a while to complete and that he would be ready to cooperate with the authorities.

The news about the investigation came just days after several Alameda wallets (marked as such on Etherscan) started moving ERC-20 tokens and bridging them to Bitcoin. Reports suggested that at least one of the wallets belonged to Bankman-Fried. However, the investigations have yet to confirm these allegations.

The news has been met with a mixed reaction in the crypto community. While some people have praised the US authorities for taking action, others have criticized them for not taking action sooner. Similarly, some have argued that the investigation is a good sign that the authorities are taking crypto fraud seriously, while others have raised concerns about the potential impact on the crypto markets.

The outcome of the investigation is still uncertain, but it is clear that it will have a major impact on the crypto world. It remains to be seen how the investigation will proceed and what the eventual outcome will be, but one thing is certain – the crypto community will be watching it closely.

Coinbase Customers Refuse to Share Account Info, Seek $5M in Damages

• Coinbase customers are refusing to share account information in a lawsuit against the crypto exchange.
• They are seeking at least $5 million in damages for unauthorized crypto transfers.
• The plaintiffs have agreed to provide the necessary information, such as emails, usernames, and Ethereum addresses, in exchange for a protective order.

Coinbase customers are continuing to fight the crypto exchange in a lawsuit over unauthorized crypto transfers. The plaintiffs are seeking at least $5 million in damages for the incident and have refused to share their account information in a bid to block efforts to move their case to arbitration. The renewed emergency motion filed in federal court revealed that the plaintiffs have agreed to provide the necessary information, such as emails, usernames, and Ethereum addresses, in exchange for a protective order.

The plaintiff alleged that $6,000 worth of cryptocurrency was drained from his wallet to an address he had never interacted with before with Coinbase facilitating the transfer. The customers have accused the exchange of negligence and breach of contract, claiming that Coinbase failed to inform customers of a security breach that allowed hackers to access their accounts and steal their funds.

The motion requested that the court order Coinbase to provide the account information in a protective order and that the exchange should be held liable for the unauthorized transfers. Coinbase has argued that the case should be moved to arbitration since the customers agreed to the exchange’s terms and conditions when they opened their accounts.

The plaintiffs claim that Coinbase’s terms and conditions are unfair and not in line with California’s laws. They have argued that the exchange should not be allowed to force customers into arbitration since the terms and conditions are one-sided and do not provide customers with any protection.

The court has yet to rule on the motion and it remains to be seen if the case will be moved to arbitration or if Coinbase will be forced to provide the account information in a protective order. In either case, the case is likely to set a precedent for other similar lawsuits involving crypto exchanges and customers.

SBF Cashes Out $684K in Crypto Despite Court Restrictions

• Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, has reportedly cashed out $684,000 worth of crypto assets despite court restrictions.
• On-chain DeFi analyst BowTiedIguana took to Twitter to unravel the location where SBF transferred the funds.
• Following the Money Trail, SBF sent all the ether in his public wallet to a new wallet address, and then transferred $367,000 worth of cryptocurrencies from 32 addresses owned by his trading firm Alameda Research to the same wallet.

Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, has made a move that has left many in the crypto space in shock. Despite court restrictions on spending above $1,000, SBF has reportedly cashed out $684,000 worth of crypto assets.

The news created a stir on Twitter, with on-chain DeFi analyst BowTiedIguana trying to unravel the location where SBF transferred the funds. After careful inspection, BowTiedIguana discovered that SBF had sent all the ether (ETH) in his public wallet to a new wallet address – 0x7386df2Cf7e9776bCE0708072c27d6a7135D51CB.

Following the Money Trail, BowTiedIguana found out that some hours later, $367,000 worth of cryptocurrencies were transferred from 32 addresses owned by SBF’s trading firm Alameda Research to the same wallet. The assets were then further transferred to the Ren Protocol (REN), a decentralized finance (DeFi) platform for trading, and then to a non-KYC platform.

The news has left many in the crypto space questioning the actions of SBF, as it appears that he may have violated the court restrictions. While the full extent of SBF’s activities remain unclear, it is clear that the FTX boss has managed to cash out a substantial amount of crypto assets, despite court restrictions.