Author: Defx Intern

Conor Grogram, head of product business operations at Coinbase, has uncovered evidence suggesting that Satoshi Nakamoto, the pseudonymous creator of Bitcoin, may have used Cavirtex, an early Canadian bitcoin exchange. Grogram’s on-chain analysis revealed that a wallet believed to belong to Satoshi interacted with the now-defunct exchange, which was later acquired by Coinsetter in 2015 and subsequently by Kraken in 2016.

This discovery sheds new light on the mysterious figure behind Bitcoin and raises questions about Satoshi’s potential ties to Canada. If confirmed, this information could provide valuable insights into the early days of Bitcoin and its creator’s activities. The use of a Canadian exchange may also hint at Satoshi’s geographical location or affiliations during the early stages of Bitcoin’s development.

The revelation of Satoshi’s potential connection to Cavirtex is likely to spark renewed interest in the enigmatic creator’s identity and background. As the crypto community continues to speculate about Satoshi’s true identity, this new piece of evidence adds an intriguing layer to the ongoing mystery. However, it is crucial to approach this information with caution, as the evidence, while compelling, is not definitive proof of Satoshi’s actions or whereabouts.

From a market perspective, this news may have limited impact on Bitcoin’s price or overall market sentiment. Nevertheless, it serves as a reminder of the fascination surrounding Satoshi Nakamoto and the enduring enigma of Bitcoin’s origins. As more clues emerge about Satoshi’s activities and potential ties to various entities, the crypto community will undoubtedly continue to explore and analyze every lead in the quest to unravel the mystery behind Bitcoin’s creation.

Tags: Satoshi Nakamoto, Bitcoin, Cavirtex, Canadian Exchange, Coinbase

Source: https://news.bitcoin.com/satoshi-may-have-used-a-canadian-bitcoin-exchange/

Despite recent market turbulence and significant price declines, popular memecoins Shiba Inu (SHIB) and Dogecoin (DOGE) could be on the verge of a major comeback, according to well-known analyst Javon Marks.

Marks, who shares his insights on Elon Musk’s social media platform X, has highlighted several technical signals that suggest a bullish continuation for both SHIB and DOGE. For Shiba Inu, he notes that the memecoin has already broken out of a larger resistance trend, setting a potential target of $0.000081. Furthermore, recent price dips have been met with substantial buyer activity, indicating strong support and potential for a sentiment shift back towards a bullish stance.

If these conditions persist, Marks believes SHIB could eventually reach a higher target of $0.0001553, representing a significant gain from its current price. In the case of Dogecoin, the analyst points out that DOGE has shown a strong breakout response, with recent price action suggesting a potential climb to $0.6533. Should DOGE surpass this level, Marks suggests a higher target of $1.25111 could come into play.

While the broader crypto market remains in a downturn, these predictions offer a glimmer of hope for SHIB and DOGE holders. As always, it’s crucial for investors to exercise caution and conduct thorough research before making any investment decisions. The memecoin market is notoriously volatile, and while technical analysis can provide valuable insights, it’s just one piece of the puzzle.

Tags: Shiba Inu, Dogecoin, memecoins, crypto market, price predictions

Source: https://www.newsbtc.com/meme-coins/shiba-inu-and-dogecoin-could-be-poised-for-a-major-comeback-heres-why/

Erik Voorhees’s Venice token, a crypto AI project, has been accused of insider pump and dump activity. Onchain data analyzed by Amir Ormu from Castle Labs reveals that a group of alleged insiders sold $10.2 million worth of Venice tokens immediately after the project’s launch, raising suspicions of manipulation.

The sudden and significant sell-off by insiders suggests that they may have taken advantage of their early access to the tokens to make quick profits at the expense of other investors. This behavior undermines the integrity of the project and erodes trust within the crypto community.

If the allegations prove to be true, it could have serious implications for the Venice token and the broader AI crypto market. Investors may become more cautious and skeptical of similar projects, leading to reduced investment and slower growth in this sector. Additionally, regulators may take a closer look at such incidents, potentially leading to stricter oversight and compliance requirements for crypto AI projects.

The Venice token incident also highlights the importance of transparent and fair token distribution mechanisms. Projects should strive to ensure that insider trading and manipulation are minimized through proper vesting schedules, lock-up periods, and clear communication with the community.

As the investigation into the Venice token allegations unfolds, it will be crucial for the crypto AI industry to learn from this experience and work towards establishing best practices that promote trust, transparency, and long-term sustainability.

Tags: Venice token, insider trading, pump and dump, crypto AI, market manipulation

Source: https://news.bitcoin.com/erik-voorheess-venice-token-faces-pump-and-dump-allegations/

Solana (SOL) has demonstrated an extraordinary performance in the fourth quarter of 2024, with Messari reporting a staggering 213% quarter-over-quarter growth in total app revenue, reaching an impressive $840 million. This surge positions Solana as a strong contender in the blockchain industry, potentially marking the best quarter for any blockchain in history.

The remarkable growth in app revenue can be attributed to the success of leading applications like Pump.fun and Photon, as well as renewed interest in memecoins and AI-related cryptocurrencies. Solana’s DeFi ecosystem also experienced significant growth, with total value locked (TVL) increasing by 64% to $8.6 billion, surpassing Tron to become the second-largest DeFi network.

Solana’s ecosystem growth is further supported by the rise in liquid staking rate, indicating a thriving yield-bearing SOL environment. The NFT market also saw modest gains, with Tensor dominating the space. Network activity metrics reflected robust engagement, with substantial increases in daily fee payers and transactions.

Despite the overall positive performance, SOL’s price has experienced a 22% decline over the last two weeks, trading at $199 amid macroeconomic challenges affecting risk assets. However, the underlying fundamentals of the Solana ecosystem remain strong, with the potential for continued growth and adoption in the future.

As Solana continues to establish itself as a major player in the blockchain industry, investors and developers alike will be closely monitoring its progress. The record-breaking app revenue and ecosystem growth in Q4 2024 demonstrate Solana’s ability to attract and retain users, setting the stage for further expansion and innovation in the coming quarters.

Tags: Solana, SOL, DeFi, NFT, blockchain, crypto

Source: https://www.newsbtc.com/news/solana/solana-metrics-surge-total-app-revenue-climbs-to-840m-in-record-breaking-quarter/

In an exciting development for the Web3 space, the United Arab Emirates Ministry of Energy and Infrastructure has announced a partnership with Shiba Inu to drive innovation in energy, infrastructure, and other key areas. This collaboration aims to leverage Web3 technologies to enhance public service efficiency and explore new possibilities.

The UAE has been at the forefront of embracing emerging technologies, and this partnership with Shiba Inu showcases their commitment to staying ahead of the curve. By harnessing the power of Web3, the UAE MOEI seeks to streamline processes, improve transparency, and deliver enhanced services to its citizens.

The implications of this partnership are significant for both the UAE and the broader Web3 ecosystem. Shiba Inu, with its strong community and innovative approach, brings valuable expertise to the table. The collaboration is expected to yield cutting-edge solutions that can be replicated and scaled across various sectors.

From a market perspective, this news highlights the growing mainstream adoption of Web3 technologies. As more government entities and traditional industries recognize the potential of Web3, it serves as a strong validation of the technology’s real-world applications. This partnership could pave the way for increased investment and development in the Web3 space.

While the specific details of the projects and initiatives under this partnership are yet to be disclosed, the announcement has generated significant buzz in the crypto community. Shiba Inu’s involvement in such a high-profile collaboration showcases the project’s credibility and potential.

As the UAE continues to embrace Web3 and explore its possibilities, this partnership with Shiba Inu sets a promising precedent. It demonstrates the willingness of forward-thinking governments to collaborate with blockchain projects to drive innovation and improve public services.

Tags: UAE Web3 Partnership, Shiba Inu Collaboration, Government Blockchain Adoption, Web3 Innovation, Public Service Efficiency

Source: https://news.bitcoin.com/uae-ministry-partners-with-shiba-inu-to-drive-web3-innovation/

Chainlink, the decentralized oracle network, has witnessed a surge in whale activity, with the Whale Transaction Count reaching its highest level since 2023. This spike in large transactions, typically associated with whale entities, suggests that increased volatility may be on the horizon for the LINK token.

The recent surge in Chainlink’s Whale Transaction Count coincides with a significant price drop, indicating that whales have been actively trading amidst the market turbulence. On-chain analytics firm Santiment notes that this heightened activity from large traders could lead to further price fluctuations in the near future.

While the direction of the potential volatility remains uncertain, as the Whale Transaction Count does not reveal whether buying or selling is dominant, the timing of the spike following a price crash could be a positive sign. Santiment suggests keeping a close eye on Chainlink when altcoins begin to rebound.

Chainlink is not alone in experiencing increased whale activity. Other notable altcoins, such as Dai (DAI) on the BNB blockchain and Floki (FLOKI), have also seen significant jumps in their Whale Transaction Counts over the past week.

As the crypto market continues to navigate uncertainty, the elevated whale activity in Chainlink and other altcoins may provide valuable insights into potential price movements and market sentiment. Traders and investors should monitor these developments closely to make informed decisions in the dynamic cryptocurrency landscape.

Tags: Chainlink, LINK, Whale Activity, Altcoins, Crypto Market

Source: https://www.newsbtc.com/chainlink-news/chainlink-highest-whale-2023-price-reversal/

In a recent crackdown on unregistered crypto operations, Indian authorities have imposed a major fine on crypto exchange Bybit and blocked its website for violating anti-money laundering (AML) laws. The Financial Intelligence Unit-India (FIU-IND) under the Ministry of Finance took action against Bybit as part of their ongoing efforts to regulate the crypto industry in the country.

This move by Indian regulators highlights the increasing scrutiny faced by crypto exchanges operating without proper registration and compliance with local laws. The penalty imposed on Bybit serves as a strong warning to other unregistered exchanges that may be violating AML regulations.

The blocking of Bybit’s website in India is likely to have a significant impact on its user base and trading volumes in the country. Indian users may now have to look for alternative platforms that are compliant with local regulations to continue trading cryptocurrencies.

This development underscores the importance of regulatory compliance for crypto businesses operating in India. As the government continues to formulate a comprehensive regulatory framework for cryptocurrencies, exchanges will need to proactively engage with authorities and ensure adherence to AML and other applicable laws to avoid penalties and disruptions to their services.

Moving forward, the Indian crypto market may witness a shift towards regulated and compliant exchanges, as users prioritize safety and legitimacy of the platforms they use. Exchanges that can successfully navigate the evolving regulatory landscape and maintain high standards of compliance are likely to gain a competitive edge in the Indian market.

Tags: Bybit, India, Crypto Exchange, AML, Regulatory Compliance

Source: https://news.bitcoin.com/india-strikes-crypto-exchange-bybit-major-fine-issued-website-blocked/

A significant on-chain movement of 49,700 Bitcoin from the 6-12 month age band has recently occurred, as reported by CryptoQuant contributor XBTManager. This substantial shift in dormant Bitcoin holdings could potentially impact the market in the coming days.

Historically, large movements of long-held Bitcoin can create temporary selling pressure, leading to short-term price drops and causing panic among retail investors. However, this downward trend can also set the stage for a rebound, as buyers absorb the new supply and prices recover.

XBTManager warns that a large portion of these Bitcoins may be sold in the coming days, potentially creating selling pressure and enabling market manipulation. Investors should remain cautious about potential market fluctuations.

Bitcoin’s recent price performance has been a rollercoaster, with the asset trading below $90,000 earlier this week before bouncing back above $100,000. As of today, BTC hovers around $98,000, down roughly 10% from its all-time high of $109,000 in January. Despite the recent price decline, Bitcoin’s daily trading volume has increased from below $40 billion last week to above $58 billion today.

The movement of dormant Bitcoin could further contribute to the current market volatility. Investors should closely monitor the situation and be prepared for potential price fluctuations in the short term. As always, it is essential to conduct thorough research and exercise caution when making investment decisions in the crypto market.

Tags: Bitcoin, On-chain Analysis, Market Volatility, Investor Sentiment, Crypto Market

Source: https://www.newsbtc.com/bitcoin-news/49700-dormant-bitcoin-just-moved-whats-next-for-btcs-price/

Dogecoin (DOGE) has recently started a recovery wave, attempting to bounce back from its recent decline. After falling over 25% and testing the $0.20 support level, DOGE is now facing resistance as it tries to reclaim lost ground.

The popular meme coin is currently trading below the $0.278 level and the 100-hourly simple moving average. It faces immediate resistance near the $0.26 level, with a major bearish trend line forming on the hourly chart. If DOGE manages to clear the $0.26 and $0.27 resistance levels, it could potentially extend its recovery toward $0.30 or even $0.342.

However, if Dogecoin fails to break above the $0.27 mark, it risks another decline. The key support levels to watch are $0.242 and $0.225. A drop below the crucial $0.22 support could send DOGE tumbling toward $0.202 or even $0.20 in the near term.

The current market sentiment for Dogecoin remains cautious, with investors closely monitoring its ability to overcome resistance levels. The outcome of this recovery attempt could have significant implications for DOGE’s short-term price action and overall market sentiment.

As always, traders and investors should exercise caution and conduct thorough research before making any investment decisions. Keep a close eye on key support and resistance levels, and stay informed about the latest developments in the cryptocurrency market.

Tags: Dogecoin, DOGE, crypto market, price analysis, trading

Source: https://www.newsbtc.com/analysis/doge/dogecoin-doge-attempts-comeback-0-270/

In a move to tighten its grip on the cryptocurrency mining industry, Russia has introduced new regulations requiring miners to report their earnings to the Federal Tax Service (FNS) by the 20th of each month. The law, which came into effect on February 3, 2025, restricts mining activities to approved entities and bars those with a history of financial crimes from participating.

This development marks a significant shift in Russia’s approach to crypto mining oversight. By demanding monthly earnings reports, the government aims to increase transparency and prevent illegal activities within the industry. The move is expected to reshape the mining landscape in Russia, with only compliant entities being allowed to operate.

The market implications of this new law are notable. Legitimate mining operations in Russia may face increased compliance costs and regulatory burdens. However, the long-term impact could be positive, as the industry gains more credibility and attracts institutional investors. On the other hand, the restrictions on mining participants with a history of financial crimes could limit the pool of available miners and potentially impact the overall hash rate coming from the region.

As Russia tightens its control over the crypto mining sector, it remains to be seen how the industry will adapt and evolve. Mining companies operating in the country will need to navigate the new regulatory landscape carefully to ensure compliance and avoid penalties. The increased oversight may also prompt some miners to relocate to jurisdictions with more favorable regulations.

Tags: Russia crypto mining, crypto mining regulations, crypto earnings reports, mining oversight

Source: https://news.bitcoin.com/russia-enforces-crypto-mining-oversight-miners-must-report-earnings/