The latest cryptocurrency news is the main July 10
Date: 2023-07-11 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Today, the bullish sentiment is waking up in the cryptocurrency market. Most cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), rose in price at the end of the day.
The current bitcoin exchange rate against the dollar is $30,572.00
What's wrong with bitcoin today?
Standard Chartered analysts have raised their forecast for the price of bitcoin for 2024 from $100,000 to $120,000. Increasing the profitability of miners for mining BTC means that they can sell less while maintaining an influx of money. Over the course of a year, this will reduce miner sales from 328,500 to the range of 65,700-98,550, meaning a reduction in the net supply of BTC by about 250,000 bitcoins per year.
The hashrate of the Bitcoin network updated its all-time highs over the weekend. The average bitcoin hashrate for 7 days and 3 days reached record values. Bitcoin miners in Texas are cutting back due to extreme weather conditions. Mining difficulty may increase by 7.5% with the next adjustment. The cost of bitcoin hashrate is declining due to a drop in demand for mining.
What's on the market today
Peter Brandt called the largest crypto exchange Binance a scam. Brandt criticizes the platform for temporarily losing the peg of the Tether (USDT) stablecoin to the US dollar. Users do not agree with Brandt's opinion and consider his criticism far-fetched. On June 5, 2023, the crypto exchange faced charges from the US Securities and Exchange Commission (SEC).
In the new social network Threads from Mark Zuckerberg, scam copies of crypto projects and NFT investors were noticed. Members of the cryptocurrency community drew attention to fraudulent copies of Twitter pages in Threads. Cryptocurrency scammers are also actively promoting their schemes on YouTube and Twitter.
Arcadia Finance, a DeFi protocol, lost about $455,000 due to a hacker attack. The attack took place in the darcWETH and darcUSDC pools, and the project's reserves were cleared. Arcadia Finance confirmed the fact of the hack and appealed to the hacker with a demand to return the cryptocurrency. The hack was made possible due to gaps in the protocol's security system. Arcadia Finance's code has not been protected from the frequent method of attack in the cryptocurrency market. The attacker laundered the stolen cryptocurrency through the Tornado Cash mixer.
