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Bitcoin Core 28.0 Launches With Major Improvements

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This week, the Bitcoin development team announced the launch of the Bitcoin Core 28.0 version bringing along major bug fixes and performance improvements to the BTC mainnet. As we know, the Bitcoin Core is a critical program within the BTC ecosystem that helps in maintaining decentralization.

Bitcoin Core 28.0 Version Brings Higher Security

The BTC development team has published the release notes outlining several updates designed to boost the program’s functionality and security. Along with the bug fixes, the recent update focuses on introducing more security and privacy features for the users.

Last month, the BTC developers issued a warning about a high-risk vulnerability and a software bug that was affecting one in every six Bitcoin nodes. The vulnerability allowed malicious actors to launch a DoS attack by exhausting nodes with low-difficulty header chains. This would need the nodes to download long chains exceeding their bandwidth thereby ultimately resulting into its potential crash.

With the latest version update, the Bitcoin Core developers have patched this vulnerability along with additional security enhancements. Back in August, BTC Core integrated new security advisories in order to keep the protocol safe amid the growing adoption.

In addition to this update, the BTC Core 28.0 version supports reproducible builds that allow experienced users to compile identical binaries along with those distributed on the BTC Core official website. This feature helps to boost trust and transparency within the BTC community.

The good thing is that Bitcoin Core has relatively high system requirements compared to other Bitcoin software. By default, it allows up to 125 peer connections, with 11 outbound connections. This connectivity ensures that users stay integrated within the Bitcoin network, contributing to its decentralized structure.

Where’s BTC going Next? $50K or $70K?

Since the beginning of October, the Bitcoin price has come under strong selling pressure moving all the way to $60,000 before recovering back past $61,000 levels. However, amid the current cycle, it seems that BTC whales have shifted to the least profit-taking so far. This shows confidence among long-term holders who are eyeing a potential upside of $70,000.

On the other hand, some market analysts are predicting that the BTC price first needs to take a dip to $57,000 before resuming the uptrend. However, if the bulls manage to reclaim the crucial support zone of $63-$64k, they can start a further journey to $70K.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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X Empire Airdrop Listing Date: What Will Be the XEMP token Price?

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2 hours ago

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October 5, 2024

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X Empire has created a new buzz in the crypto market, especially with driving inspiration from Multi-Billionaire Elon Musk. This crypto project gained immense popularity after combining the gaming industry with the DeFi one, offering the perfect opportunity to earn heavy crypto awards. Here, the user gets to experience daily combos, riddles & rebuses, similar to another popular Tap-to-earn game called Hamster Kombat. Because of this, the hype is even higher with the X Empire airdrop following the XEMP token launch.

There is also a need for this X Empire Airdrop, as the rest of the Telegram gaming tokens mainly failed moments after their launch. It includes the Hamster Kombat, who is struggling on the charts, as the HMSTR price is below $0.1. This is why, there is also a fear of the same happening to the XEMP token price.

X Empire Airdrop Launch Date & Eligibility

It has been long since the project’s team announced the plans for one of the best crypto Airdrops, increasing hype around it. However, they have not officially announced the launch date, disappointing many. Regardless, many industry experts believe that the airdrop will go live around October 15, 2024, and the Token Generation event around October 30th.

This Elon Musk-inspired project has topped the Tap-to-earn games in popularity, gaining 20 Million active users in the blink of an eye. As a result, the team has introduced the X Empire Airdrop to reward its early users who have entered the mining phases and upgraded their game components.

Moreover, there is a strict eligibility criterion that a user will have to fulfill to receive the airdrop tokens. The user should have been part of the official Telegram group to join the rest of the X Empire community. It is because the group will release all the required tasks and activity announcements in the group, making it a mandatory step to join it. Next, the user should have completed their Know Your Customer (KYC) to maintain transparency.

More importantly, the interested participants should hold significant X tokens to access the X Empire airdrop. Even maintaining an engagement within the ecosystem is a must. In this scenario, the user can participate in staking, trading, completing tasks, and many other things to increase their presence in the ecosystem. The higher the activity, the higher the chances of users receiving the XEMP airdrop tokens.

Another important X Empire news is that the XEMP token will be listed on multiple popular crypto exchanges by the end of the month to show its domination in the crypto world as well.

What Will Be the XEMP Token Price?

The Telegram game team has set a total supply of 690 Billion for the launch. Out of this, 75% is reserved for the community, which might get utilized in the X Empire Airdrop and other rewarding activities. Other than the in-app games, this is what is attracting new users every single day.

#XEmpire price post-TGE.👇

Tokenomics Overview:

Total supply: 690 billion X tokens
75% allocated to the community
Major focus on player engagement & distribution

Low Estimate: $0.002
If demand is modest and engagement remains average, $XEMP could settle around $0.002.… pic.twitter.com/nEfSF2bQcz

— CRYPTO GEEK (@Crypto_geek___) October 4, 2024

Additionally, many crypto analysts have analyzed its hype and compared it to other similar tokens launched. With that criteria, the XEMP token price might come around$0.47 and $0.55 per token. After considering the token’s circulating supply at 1 billion tokens, the utmost demand of the crypto game, the analysts have decided on this value. However, if the data varied, the XEMP token might price turn differently, as the low estimate value can come to around $0.002 per X Token.

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As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Satoshi Era Bitcoin Whale Moves $3.6M Ahead of Nakamoto Face Reveal

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9 hours ago

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October 5, 2024

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Ahead of the much-anticipated documentary release on October 8, which promises to reveal the identity of Bitcoin creator Satoshi Nakamoto, a 2009 Bitcoin whale has moved $3.6 million worth of BTC. This movement has generated significant interest, especially as it coincides with the forthcoming documentary, which has ignited curiosity about Nakamoto’s identity.

Satoshi Era Bitcoin Whale Moves $3.6M BTC to Kraken

As reported by the blockchain analytics firm Arkham Intelligence, the Satoshi era Bitcoin whale, who has been holding BTC since 2009, moved 221 BTC to the Kraken exchange, equivalent to $3.58 million. He had bought the Bitcoins a month after the cryptocurrency was launched, meaning the coins are among the oldest in existence.

 

This is not the Satoshi era’s Bitcoin whale first movement this year, though. On September 24, Arkham also recorded another transfer of five Bitcoins to Kraken. The whale currently possesses about 1,215 BTC, worth over $72.5 million.

Due to the closeness to the source, many people believe that this whale may be a relative of early investors or even the creator of Bitcoin, Satoshi Nakamoto.

Nonfarm Payrolls and Bitcoin Price Surge

Bitcoin’s price has risen, trading at $62,376 on October 4, 2024, with recent economic data adding to market optimism. The most recent U.S non-farm payroll data showed that employment increased by 254,000 in September, well above the market forecast of 147,000. 

This better-than-expected result has improved the market outlook, fueling expectations of a rate cut by the Federal Reserve in November.

Further, like the economic data, the positive on-chain metrics have also supported Bitcoin. According to CryptoQuant, the amount of BTC held on centralized exchanges is at its lowest in six years, with approximately 2.8 million BTC. This is because a reduction in exchange-held Bitcoin is considered bullish, as lower liquidity on exchanges puts upward pressure on the prices.

Satoshi Nakamoto Documentary Fuels Speculation

The upcoming HBO documentary has drawn renewed attention to who Satoshi Nakamoto is. Directed by Cullen Hoback, known for his investigative work on Q: Into the Storm, the film aims to explore the origins of Bitcoin and potentially reveal Nakamoto’s identity.

One theory centres around Len Sassaman, a cryptographer and cypherpunk privacy advocate. Len Sassaman’s involvement in cryptographic technology and his death in 2011—shortly after Nakamoto’s last public communication—led to speculation that he may have been Bitcoin’s elusive creator. 

On the prediction platform Polymarket, 51% of users believe the documentary will point to Sassaman as Satoshi Nakamoto, making him the leading candidate in the current speculation.

Amid the Satoshi era whale move, Bitcoin is also surging in institutional interest, particularly through U.S.-based spot Bitcoin ETFs. According to CryptoQuant, institutional investors who were net sellers earlier in September have since reversed their positions, now buying around 7,000 BTC daily. 

This marks the highest daily purchase rate since July and strongly indicates institutional confidence in Bitcoin’s long-term prospects.

Source; CryptoQuant

At the same time, the amount of Bitcoin held on exchanges has continued to decrease, mirroring patterns seen during Bitcoin’s previous rally to its 2021 high of $69,000. With decreasing liquidity and growing demand from institutional investors, market analysts are increasingly optimistic that Bitcoin could see new all-time highs as 2024 progresses. 

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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EIGEN Price Jumps 10% As EigenLayer Reveals Reason Behind $5.5M Token Sale

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13 hours ago

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October 4, 2024

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EigenLayer (EIGEN) price has jumped 9% in the last 24 hours, despite a struggle between bulls and bears for dominance. This price increase is taking place at the same time as investigations are ongoing into the allegedly unauthorised trading of $5.5m worth of EIGEN tokens, which may have violated the lock-up agreements for employees and early investors.

EigenLayer Probes Suspicious $5.5M Token Sale

EigenLayer is currently tracking a wallet that has transferred close to 1.67 million EIGEN tokens, worth approximately $5.5 million. The sale is alleged to have taken place through MetaMask, which could be in contravention of EigenLayer’s one year lockup arrangement. The lockup means that the current and former employees and early investors of EIGEN cannot transfer or stake any of their EIGEN tokens before September 2025.

The suspicious wallet, which was identified by Arkham Intelligence, was funded by EigenLayer’s multi-signature Gnosis Safe. This has given rise to questions on internal control and security measures in place within the organization. EigenLayer’s team is still investigating to find out if this incident was a sale by an employee or a former employee or even one of the early investors.

”We are currently looking into unapproved selling activity related to this wallet and will update the community with the details when possible,” the EigenLayer team tweeted on X (formerly Twitter).

Community Update: Incident Details

In its community update, EigenLayer explained that the suspicious sale was a consequence of a single incident of security compromise. Among them, one of the investor’s emails containing the instructions for the transfer of tokens to custody was hacked by an attacker.

The attacker was able to transfer 1,673,645 EIGEN tokens to another account, and sell them through a decentralized swap platform. The stolen money was then swapped for stablecoins and sent to centralized exchanges.

“We are in contact with these platforms and law enforcement. A portion of the funds have already been frozen,” EigenLayer stated. The update also emphasized that the broader ecosystem remains secure. “There is no known vulnerability in the protocol or token contracts, and this compromise was not related to any onchain functionality.”

Justin Sun’s Involvement and Token Sell-Off

The investigation is coming only a few days after the Tron founder Justin Sun has sold a significant amount of his EIGEN tokens. According to reports, Sun sold 5.37 million EIGEN tokens at an average of $4.03 per token, making approximately $21 million in profit from tokens received in airdrops via EigenLayer’s Ethereum ReStaking track.

Sun’s decision to sell most of his tokens just a day after the token unlocking on October 1st created more selling pressure, which caused concern about price fluctuations.

Following the sale of his EIGEN tokens, Sun deposited the revenue in USDT into the Aave v3 protocol, an Ethereum-based decentralized money market. 

EIGEN Price Skyrockets Despite Investigation

Despite the unauthorized token sale and Justin Sun’s recent sell-off, EIGEN has rebounded, experiencing a 9% price increase over the past 24 hours. Investors are weighing the potential long-term value of EigenLayer’s protocol, which remains one of the most innovative solutions in Ethereum’s DeFi ecosystem.

Since its October 1 unlocking event, the token has seen increased volatility, initially dropping 23% from recent highs. However, on-chain data indicates that some investors are accumulating EIGEN tokens, betting on future growth. For example, one whale purchased over 31,000 EIGEN tokens after the sell-off, suggesting confidence in the protocol’s prospects despite recent setbacks.

EigenLayer has quickly become a major player in Ethereum’s DeFi landscape with its pioneering “restaking” model, allowing users to reuse staked ETH to secure decentralized applications. As of early October, the protocol’s total value locked (TVL) stands at $10.8 billion, ranking it among the top three DeFi platforms, alongside Lido and Aave.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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