#BTC

The cryptocurrency market remained steady over the weekend, with no major volatility. However, by Monday morning, BTC had risen by 4%. Here’s an analysis of the market situation for Bitcoin (BTC), Ethereum (ETH), and Pax Gold (PAXG) as of Monday, October 23.

This misinformation led the BTC price to surge to $30,000, then drop to $28,000, resulting in the liquidation of $100 million in positions, of which $70 million were short ones.

According to a recent study by 21.co, the US government holds more than 194,000 BTC, valued at over $5 billion, making it one of the largest Bitcoin owners.

ThorChain's transaction volume has surged to a record $355 million. An influx of hacker activity on the network has led to total transactions topping $1 billion in just five days. Over the past four months, over 50% of the funds swapped from ETH to BTC on ThorSwap have been stolen.

A recent investigation into ThorSwap, a platform enabling asset transfers across blockchains, raises concerns about its misuse by hackers from North Korea and russia. In the last four months, more than 50% of ETH converted to BTC through ThorSwap has been linked to either previous thefts via exploits or money laundering activities. The study's author highlights that criminal entities often exploit decentralized technologies. However, many developers seem to overlook this issue.

Jameson Lopp, a co-founder of bitcoin security provider Casa, challenges the widely-held belief that BTC pioneer, Hal Finney, was the mysterious creator of Bitcoin — Satoshi Nakamoto.

In the past 24 hours, we've witnessed a surge in large crypto wallets holding 100 to 1,000 BTC, with 16 new wallets joining this league.

Canadian mining firm Hut 8 reported that it hasn't sold any of the 111 BTC it minted in September 2023, despite a decline in the previous year's revenues.