U.Today has compiled a summary of the top cryptocurrency news stories from the past day.
Bitcoin Moving to Hybrid PoS Model
Debate over Bitcoin's security within the crypto community is intensifying. Ethereum Foundation researcher Justin Drake claimed that Bitcoin is 'cooked,' needing around $10 billion for a 51% attack, a sum trivial for nation-states. In response, noted crypto lawyer Gabriel Shapiro asserted that a 51% attack is no longer a real threat. Anatoly Yakovenko, co-founder of Solana, stated that Bitcoin is moving towards a 'hybrid' proof-of-stake model, anticipating rejections of attacks against known Bitcoin miners if it becomes part of national reserves.
Record Whale Activity in Chainlink
On-chain analytics platform Santiment highlighted remarkable whale activity on Chainlink, suggesting potential significant price movement. Chainlink has seen the highest whale activity in 14 months, with strong on-chain activity below the $20 mark. Santiment data shows 1,659 transactions over $100K and 9,531 active wallets. This spike in whale activity is a notable indicator of Chainlink's market trajectory. As of writing, LINK is trading at $19.17, down 3.67% over the past 24 hours.
Mysterious Purchase of 131 Billion Shiba Inu
According to Arkham Intelligence, an unknown investor withdrew 107,071 billion SHIB from ByBit, marking the first portfolio addition in over a year. This aligns with significant price movements for SHIB. Within a few days, after losing 40% in value, SHIB rebounded by the same percentage. SHIB is currently priced at $0.00001526, down 5.59% over the past 24 hours.
These news stories highlight significant trends in the cryptocurrency market, indicating potential future developments.
