• Bitcoin fails to capitalize of Fed's inflationary policy
• Bitcoin miners' holdings hit two-year high
• A “critical bug” has left 13% of Ethereum nodes useless
• Bitcoin miners' holdings hit two-year high
• A “critical bug” has left 13% of Ethereum nodes useless
The cryptocurrency market has taken a breath during the past week with some downside recently. However, according to blockchain data, large market participants are still in an accumulation mode, which may mean that they expect further price increases. Meanwhile some of the tokens affiliated with the DeFi space posted good results which is reflected in increasing trade volumes on decentralized exchanges. Bitcoin's market dominance increased to 59.1%. The capitalization of all digital assets in circulation reached over 357 billion, while an average daily trading volume is registered at $99 billion.
Bitcoin Miners' holdings reached almost 2 million BTC
The amount of bitcoins currently held by miners is at the highest level in the last two years. According to the addresses of wallets tracked by Glassnode, miners own over 1.82 million BTC. The data also shows that the percentage of all bitcoins that have been inactive for at least a year is rising after hitting four-year highs in June. One potential reason for this behavior is equipment rotation as miners order, pick up and deploy new machines in their operations. This process, according to the vice president of strategy at data center and mining infrastructure company GRIID, Harry Sudock, takes about six months and means fewer coins have to be sold to cover operating costs.
Bitcoin price has barely changed since the beginning of the day despite wild gyrations on Thursday, following Fed's Powell speech. Currently Bitcoin is testing local resistance at $11 400. Breaking above it may lead to a bigger upward movement towards key resistance at $12 000. On the other hand, if sellers will manage to regain control, the support at $11 000 may be at risk. Source: xStation5Fatal error in Ethereum nodes
A “critical bug” in Parity-Ethereum and OpenEthereum versions 2.7 and later made 13% of Ethereum nodes useless as it stops nodes from syncing with the network's latest block. The experts noted that such bugs are an issue as it takes too much time to fix them. Also, the experts noted that they put additional strain on the most popular client, Geth, and makes the network even more centralized.
Ethereum price is testing upper limit of the downward channel which is additionally strengthened by 50 MA (green line). Should a break above resistance at $407.67. However if sellers manage to halt advance here, another downward impulse may be on the cards. Local support is located at $360.94. Source: xStation5
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