🚀 Link's Exchange Net Flow Shows Negative Trend Indicating Asset Accumulation
#LinksExchange #NetFlow #NegativeTrend #AssetAccumulation #Withdrawals #ColdStorage #PrivateWallets #SellingPressure
According to Odaily, IntoTheBlock recently reported on platform X that LINK's exchange net flow has been consistently negative over the past month. This trend suggests ongoing withdrawals from exchanges, which typically indicates asset accumulation. When holders transfer assets to cold storage or private wallets, it can reduce immediate selling pressure.#LinksExchange #NetFlow #NegativeTrend #AssetAccumulation #Withdrawals #ColdStorage #PrivateWallets #SellingPressure
🚀 Bitcoin Community Considers User-Activated Soft Fork for 2025
#Bitcoin #UASF #CheckTemplateVerify #CTV #BitcoinImprovementProposal119 #BIP119 #BitcoinContracts #BitcoinTransactions #BitcoinSecurity #ColdStorage #Fungibility #CryptoCommunity #BTC
According to PANews, the operator of the bitcoin.org domain, known as Cobra, has alerted the community to emerging developments in the Bitcoin ecosystem. Cobra highlighted that unidentified Bitcoin users outside of Bitcoin Core are preparing to introduce a user-activated soft fork (UASF) next year. He mentioned on the X platform that some Bitcoin holders are planning to implement the Check Template Verify (CTV) soft fork through UASF sometime in 2025, although it has not garnered sufficient attention.
CTV, which stands for 'Check Template Verify,' represents a series of improvements aimed at introducing the concept of Bitcoin contracts. These contracts establish conditions for Bitcoin spending within specific wallets. Described by Jeremy Lubin in Bitcoin Improvement Proposal 119 (BIP 119), these developments aim to enhance the security of Bitcoin transactions. One notable feature is the 'vault,' a cold storage address with spending conditions that compel users to send transactions to a single predetermined wallet. Additionally, users can cancel these transactions before a set time to prevent errors or malicious activities. However, the main drawback of this update relates to fungibility, as Bitcoins locked in these addresses might be perceived as having lower value. Moreover, the added complexity and introduction of new code could expose the Bitcoin codebase to attacks exploiting the update.
Despite these concerns, the node community will ultimately decide the value of these new additions through UASF. The concept of contracts remains under discussion within the community. Some members believe they are genuinely useful and should be included in Bitcoin Core, while others view it as a desperate attempt to introduce these features.#Bitcoin #UASF #CheckTemplateVerify #CTV #BitcoinImprovementProposal119 #BIP119 #BitcoinContracts #BitcoinTransactions #BitcoinSecurity #ColdStorage #Fungibility #CryptoCommunity #BTC
🚀 VanEck Retains Significant Stake In Its Bitcoin ETF
#VanEck #Bitcoin #ETF #DigitalAssets #ColdStorage #Finance #Investing #BTC
According to PANews, VanEck's Head of Digital Asset Research has revealed that the company holds 9% of the circulating shares of its own Bitcoin ETF. Additionally, a larger portion of shares is kept in cold storage.#VanEck #Bitcoin #ETF #DigitalAssets #ColdStorage #Finance #Investing #BTC
🚀 New Mexico Senator Proposes Strategic Bitcoin Reserve Bill
#NewMexico #Senator #Bitcoin #ReserveBill #PublicFunds #Investment #Treasury #Diversification #PriceAppreciation #ColdStorage #StateInvestmentCouncil #BTC
According to Odaily, U.S. Senator Ant Thornton has introduced the 'Strategic Bitcoin Reserve Bill' to the New Mexico Senate. The proposal suggests investing 5% of public funds in Bitcoin to establish an alternative treasury for the state. This allocation aims to diversify the state's funds and capitalize on Bitcoin's potential long-term price appreciation. The bill also recommends that the state's investment officer manage the Bitcoin reserve under the oversight of the State Investment Council. Additionally, it emphasizes the importance of using cold storage as a viable method to safeguard the state's Bitcoin holdings.#NewMexico #Senator #Bitcoin #ReserveBill #PublicFunds #Investment #Treasury #Diversification #PriceAppreciation #ColdStorage #StateInvestmentCouncil #BTC
🚀 Texas Senate Reviews Strategic Bitcoin Reserve Bill
#Texas #Bitcoin #DigitalAssets #Finance #Innovation #Legislation #Investment #Cryptocurrency #EconomicSecurity #ColdStorage #Audit #AdvisoryCommittee #BTC
According to BlockBeats, the Texas Strategic Bitcoin Reserve Bill (Senate Bill 778) was submitted to the Senate Finance Committee on February 7. Proposed by Senator Charles Schwertner, the bill aims to establish a state-controlled Bitcoin reserve to enhance financial security and promote digital asset innovation.
Key provisions of the bill include authorizing the Texas government to hold Bitcoin as a financial asset and allowing individuals, including state residents, to donate Bitcoin to the reserve to encourage community investment. The Texas Comptroller's Office would manage the reserve, implementing a cold storage solution and conducting regular audits. The bill also prohibits acquiring Bitcoin from foreign entities or individuals involved in illegal activities.
In emergencies, the governor or the Legislative Budget Board could authorize the sale of Bitcoin from the reserve. Additionally, the bill proposes the creation of the Texas Strategic Bitcoin Reserve Advisory Committee, comprising state legislators and financial officials. The state legislature's funding for Bitcoin purchases would be capped at 1% of the state's unrestricted general revenue balance every two years.
If passed by a two-thirds majority, the bill would take effect immediately; otherwise, it would become effective on September 1, 2025.#Texas #Bitcoin #DigitalAssets #Finance #Innovation #Legislation #Investment #Cryptocurrency #EconomicSecurity #ColdStorage #Audit #AdvisoryCommittee #BTC
🚀 CZ: My Guiding Principle is Always to Lean on The Safer Side
#CZ #Binance #ByBit #crypto #security #withdrawals #hack #coldstorage #scam #cryptoexchanges
On February 22, Binance founder Changpeng "CZ" Zhao addressed concerns regarding his recommendation for ByBit to suspend withdrawals following a security breach. CZ highlighted a pattern in recent crypto exchange hacks, including those affecting ByBit, Phemex, and WazirX.According to CZ, hackers are now able to manipulate multi-signature cold storage systems, forging transaction signatures while displaying legitimate transactions on user interfaces. In ByBit's case, attackers managed to deceive users by making the system show an authentic transaction while executing a different, unauthorized one.Why CZ Recommended Immediate Withdrawal SuspensionsCZ defended his earlier call for ByBit to halt withdrawals, stating that his recommendation was based on personal experience and a cautious approach to security. "Some questioned my suggestion to suspend all withdrawals immediately. My principle is always to be on the safer side," he wrote.He explained that in the aftermath of a security breach, exchanges must fully assess the attack vector, identify affected systems, and conduct extensive security checks before resuming operations. While suspending withdrawals may cause temporary panic, CZ emphasized that security should take priority over immediate concerns.Lessons from Binance's 2019 Security BreachDrawing from Binance’s own security breach in 2019, where hackers stole $40 million, CZ recalled that the platform suspended withdrawals for a week. Contrary to fears of mass withdrawals upon reopening, Binance actually saw higher deposits than withdrawals after security was restored."I'm not saying this approach is always better, as each situation is unique. However, my purpose in tweeting was to share practical insights and support exchanges facing crises," CZ noted.#CZ #Binance #ByBit #crypto #security #withdrawals #hack #coldstorage #scam #cryptoexchanges
🚀 North Carolina Considers Bitcoin Allocation for Public Funds
#NorthCarolina #Bitcoin #PublicFunds #BitcoinReserveBill #SB327 #Cryptocurrency #FinancialManagement #AssetAllocation #ColdStorage #Audits #BTC
According to BlockBeats, North Carolina is evaluating a proposal under the Bitcoin Reserve Bill SB327, which would permit the state treasurer to allocate up to 10% of public funds to Bitcoin. The bill outlines specific measures for managing these assets, including the use of multi-signature cold storage for custody and monthly audits to ensure proof of reserves. Additionally, the bill stipulates that Bitcoin holdings can only be sold under strict conditions during severe financial crises. North Carolina's general fund currently holds $9.5 billion.#NorthCarolina #Bitcoin #PublicFunds #BitcoinReserveBill #SB327 #Cryptocurrency #FinancialManagement #AssetAllocation #ColdStorage #Audits #BTC
🚀 Bitcoin Movement Sparks Concerns Amid Bearish Sentiment
#Bitcoin #Cryptocurrency #BearishSentiment #CryptoQuant #MarketConcerns #BTC #WalletTransfers #PriceCorrections #InstitutionalInvestors #ColdStorage
According to PANews, a report by CryptoQuant analyst Maartunn reveals that approximately 8,000 bitcoins, dormant for five to seven years, have recently been transferred, intensifying bearish concerns in the cryptocurrency market. These bitcoins, valued at $674 million, were moved in a single block. This event follows a series of activations of idle bitcoin wallets. On March 24, a bitcoin wallet inactive for 14 years suddenly transferred 100 bitcoins, worth $8.5 million. Earlier in March, six ancient bitcoin wallets moved nearly 250 bitcoins, valued at $22 million.
Typically, the transfer of a large amount of BTC from long-term dormancy is interpreted as a signal of impending selling pressure, potentially leading to significant price corrections. However, there are other non-bearish motivations behind such transactions, such as internal wallet reorganization by institutional investors or large holders, as well as cold storage restructuring.#Bitcoin #Cryptocurrency #BearishSentiment #CryptoQuant #MarketConcerns #BTC #WalletTransfers #PriceCorrections #InstitutionalInvestors #ColdStorage
🚀 Nobitex Investigates Unauthorized Access to Hot Wallets
#Nobitex #UnauthorizedAccess #HotWallets #SecurityIncident #ColdStorage #CryptoExchange #ZachXBT
According to PANews, Nobitex reported on June 18 that its technical team detected unauthorized access to some notification infrastructure and hot wallets earlier that morning. In response, the platform immediately revoked all access permissions and initiated a comprehensive investigation by its internal security team.
The official statement assured users that their assets are securely stored according to cold storage standards and remain unaffected by the incident, which only impacted a portion of the hot wallet assets. Due to temporary security measures, Nobitex's customer support is currently inaccessible, but efforts are underway to restore communication through alternative channels.
Previously, ZachXBT suggested that the Iranian cryptocurrency exchange Nobitex might have experienced a hacking incident.#Nobitex #UnauthorizedAccess #HotWallets #SecurityIncident #ColdStorage #CryptoExchange #ZachXBT
🚀 Bitcoin Exchange Balances Drop to Six-Year Low as Supply Falls Below 2.8 Million BTC
#Bitcoin #BTC #Cryptocurrency #BitcoinExchange #SupplyDrop #SelfCustody #ColdStorage #MarketConfidence #BitcoinPrice #OnChainData #BullRun #Macroeconomics #FiatCurrency #Investors
Key Takeaways:Bitcoin supply on centralized exchanges has dropped to just over 2.8 million BTC, the lowest level in nearly six years.The decline signals long-term accumulation as investors move assets into self-custody and cold storage.The drop coincides with Bitcoin trading near $124,000, reflecting strong investor confidence and reduced sell-side pressure.According to on-chain data from Glassnode, reported by BlockBeats, the amount of Bitcoin (BTC) held on centralized trading platforms has fallen to just over 2.8 million BTC, marking its lowest level since late 2019.This trend indicates a growing preference among investors to withdraw their Bitcoin from exchanges, often a sign of long-term holding behavior and reduced selling pressure in the market.The six-year low comes as Bitcoin continues to trade around $124,000, hovering near its recent all-time high. Analysts note that the declining exchange reserves suggest that market participants are increasingly viewing BTC as a long-term store of value, particularly amid macroeconomic uncertainty and concerns over fiat currency debasement.On-chain data platforms, including Glassnode and CryptoQuant, have consistently shown that falling exchange balances historically precede major bull runs, as fewer coins remain available for immediate sale. #Bitcoin #BTC #Cryptocurrency #BitcoinExchange #SupplyDrop #SelfCustody #ColdStorage #MarketConfidence #BitcoinPrice #OnChainData #BullRun #Macroeconomics #FiatCurrency #Investors
🚀 Dormant Bitcoin Wallet Moves 2,000 BTC After 13 Years
#Bitcoin #Casascius #BTC #Cryptocurrency #ColdStorage #MikeCaldwell #PhysicalBitcoins #FinCEN #WalletTransfer #InactiveWallet #BitcoinHistory #CryptocurrencyNews #Blockchain
According to BlockBeats, a Bitcoin wallet associated with Casascius physical bitcoins has transferred 2,000 BTC, valued at approximately $180 million, after being inactive for over 13 years. These bitcoins had remained unmoved since 2011-2012, when the price per bitcoin was less than $15.
Casascius physical bitcoins were introduced by U.S. entrepreneur Mike Caldwell in 2011. These coins featured embedded private keys and tamper-evident holograms, serving as offline cold storage. They were available in denominations ranging from 1 BTC to 1,000 BTC. In 2013, the issuance of these coins was halted after FinCEN classified them as an "unregistered money transmitter." Approximately 90,000 coins remain in circulation, mostly in small denominations, with only six coins and 16 bars containing 1,000 BTC each.
The reason behind the recent transfer remains unclear, whether it was a sale, internal restructuring, or a precautionary measure due to potential material degradation.
Earlier this year, a user holding 100 BTC in Casascius bars faced challenges importing private keys into modern wallets, prompting a transfer of approximately $9 million to a hardware wallet.#Bitcoin #Casascius #BTC #Cryptocurrency #ColdStorage #MikeCaldwell #PhysicalBitcoins #FinCEN #WalletTransfer #InactiveWallet #BitcoinHistory #CryptocurrencyNews #Blockchain
🚀 Bitcoin Holders Urged to Enhance Security Amid Market Volatility
#Bitcoin #Security #CryptoVolatility #HardwareWallets #ColdStorage #CryptoThefts #Ethereum #ETF #CryptoInvestors #Custody #BTC #ETH
Bitcoin holders are being encouraged to reduce screen time and consider offline custody options such as hardware wallets and cold storage. According to NS3.AI, this advice comes amid significant market volatility, which has led to nearly $874 million in liquidations. Additionally, ETF flows have shown outflows from Bitcoin and inflows into Ethereum.
The increase in crypto thefts and violent attacks on holders is prompting investors to enhance their security measures. As a result, custody is becoming a crucial operational decision for many in the crypto space.#Bitcoin #Security #CryptoVolatility #HardwareWallets #ColdStorage #CryptoThefts #Ethereum #ETF #CryptoInvestors #Custody #BTC #ETH