Global Hive Buzz

Largest Single-Day Bitcoin Outflow in 12 Months: $1B Exits Exchanges

Bitcoin continues to show bullish signals as on-chain activity underscores positive market sentiment. On Wednesday, over 28,000 BTC, valued at $1.19 billion, left centralized exchanges, marking the most significant single-day outflow in BTC terms since December 14, 2022, according to data provided by blockchain analytics firm Glassnode.

In the cryptocurrency market, net outflows from exchanges are often interpreted as a sign that investors are opting to take direct custody of their coins or leaning towards a long-term holding strategy.

The cumulative BTC balance in wallets associated with centralized exchanges has now decreased to 2,327,025 BTC, reaching its lowest point since April 2018. This reduction in coins on exchanges typically signifies reduced supply-side pressures, indicating the potential for upward price movement.

Altcoins" Poised for Growth in the Surging Crypto Market

While Bitcoin dominates the headlines with its recent surge to 18-month highs, seasoned experts understand that the most transformative gains often lie in other corners of the cryptocurrency landscape. A handful of carefully selected "altcoins" are expected to thrive as the broader crypto market gains momentum.

For retail investors seeking to capitalize on the burgeoning crypto market and avoid missing out on potentially historic opportunities, the key is to stay informed. Smart investors, numbering over 13,000 who registered for last year's event, are securing their FREE tickets to the upcoming Crypto Community Summit – a LIVE 2-Day Virtual Event scheduled for January 15th & 16th.

Bitcoin Miners Trim BTC Holdings as 'Miner Price' Nears $65K

Since mid-October, Bitcoin miners have consistently decreased their BTC balances.

In the 24 hours ending on December 28, the BTC balance in miner wallets dropped by 700 BTC.

Compared to the local peak on October 22, miners' balances have decreased by 12,700 BTC. During this time, BTC/USD has climbed from $30,000 to nearly $45,000, later consolidating as the yearly candle closed.

Popular trader and social media commentator Ali suggests that miner activity might be impacting the chances of bullish price continuation. Referring to data from CryptoQuant, he described the balance reductions as "substantial."

Miners have experienced a significant revenue surge in Q4, with transaction fees soaring amid the highest BTC price levels since April 2022.

Analyzing their cost basis, Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, emphasized the current profitability of the sector: “Bitcoin miners are absolutely printing,” he summarized in a recent post on social media.

Fraudulent Recruiters Exploit Upwork to Target Blockchain Developers and Steal Crypto via npm Packages

In a new tactic, malicious actors are utilizing Upwork to entice blockchain developers into downloading harmful software, allowing them to siphon cryptocurrencies from non-custodial wallets.

Upon developers executing the packages, a malicious script gains entry to their devices. In an interview with BleepingComputer, Murat Çeliktepe, a blockchain developer based in Antalya, disclosed losing over $500 from his MetaMask wallet in crypto after opening the npm packages, granting scammers remote access to his device.

This reveals an ongoing strategy where scammers persist in targeting blockchain developers through job platforms such as LinkedIn and Upwork. In a notable incident in 2022, hackers affiliated with North Korea managed to pilfer $600 million from the Axie Infinity blockchain game by sending a fake job offer, enclosed in a malicious PDF file via LinkedIn, to an engineer from Sky Mavis, the company behind the web3 game.

Two Corvettes, One Potential Winner – Could it be YOU?

Imagine owning not just one but two Corvettes for as little as $3! Seize the opportunity by participating in the Corvette Dream Giveaway before it concludes on December 31, 2023, and kick off the new year with a pair of stunning Corvettes in your garage. The fortunate winner will claim the following incredible prizes:

- 2023 70th Anniversary Corvette Stingray

- 1965 Corvette Sting Ray

- Backyard Buddy Wide Buddy 2-Car Lift

- Two-day experience at Ron Fellows Performance Driving School at Spring Mountain

- $48,500 for Taxes

Additionally, your tax-deductible donation contributes to supporting veterans and children in need. Join the ranks of over 130 Dream Giveaway winners – enter now using this promo code: COINSNACKS! to receive double the tickets. Don't miss this chance of a lifetime!

MEME OF THE DAY