LBANK INFO CRYPTOCURRENCY

Samson Mow, a developer and founder of a crypto project, has attributed the current Bitcoin price stability to the launch of spot Bitcoin exchange-traded funds (ETFs) in the United States. Taking to X on February 22, Mow argued  that these spot ETFs have prevented a significant price drop. Bitcoin Remains Higher Because Of Spot ETFs The founder believes that without the influx of capital from spot Bitcoin ETFs, the cryptocurrency would have been “down between 10-20%,” potentially placing it below $40,000. So far, and when writing in mid-February, the various derivatives have injected billions of dollars into the Bitcoin market. Subsequently, the asset’s liquidity has increased.  Related Reading: FTX’s Sam Bankman-Fried Is Back In Court: Here’s Everything You Should Know The relationship between liquidity and volatility is complex but being established, especially in the crypto and Bitcoin markets. However, the rule of thumb is that the more there are buyers and sellers, th...

A local report revealed the provincial tax department’s implementation of a new digital tracking system in one of South Korea’s most important provinces. As the first of its kind in the country, the new system reduces the process’ time and facilitates the tracking of crypto assets held by debtors in virtual asset exchanges. $4.6M Seized With Help Of New Digital Tracking System On February 22, a Yonhap News Agency report revealed the implementation of a new system by the Gyeonggi Provincial Tax Justice Department. The digital tracking system allows the provincial tax authorities to track crypto exchange accounts held by tax evaders “more easily.” Gyeonggi is the most populous province in South Korea, with a population of over 13 million people. The Gyeonggi-do area has historically been politically important in the country and forms part of the Gyeonggi region, also known as the Seoul Capital Area, which consists of the metropolitan area of Seoul, Incheon, and the Gyeonggi province....

To combat financial crimes associated with the digital asset industry , Nigeria has escalated its regulatory scrutiny of major cryptocurrency exchanges, including Binance and Coinbase.  According to a local media report , the African country has asked its telecommunications companies to restrict access to the websites of these crypto firms after the Central Bank of Nigeria (CBN) issued guidelines to regulate the activities of digital asset operators. Binance And Coinbase Restrictions The Central Bank of Nigeria had a change of stance in December 2023, instructing banks to disregard the previous ban on crypto transactions imposed in February 2021.  The latest restriction on crypto websites aims to slow down currency speculation activities within the country. Binance clarified that its platform is not intended for currency pricing after users complained about the inability to purchase dollars. According to the report, Binance users experienced difficulties in buying dollar...

On-chain data suggests a Bitcoin indicator may finally form a pattern historically associated with bull runs. Bitcoin Long-Term Holders Have Reversed Their Trend Recently According to data from the market intelligence platform IntoTheBlock , the recent activity of the hodlers has been typical for bull markets in the past. IntoTheBlock defines “ hodlers ” as investors who have held their Bitcoin since at least one year ago. More specifically, the addresses that have kept their coins still on the blockchain for at least a year (that is, they haven’t involved the coins in any transactions) qualify as long-term holders (LTHs). Note that the cutoff for the LTHs used by other analytics firms ranges between five to six months, which differs from the one-year threshold used by IntoTheBlock. The hodlers include the most relentless hands of the sector, who don’t sell easily no matter whether FUD has enveloped the market or an enticing profit-taking opportunity has appeared. As such, the ti...

I'm trying to understand how bitcoin works by writing my own code in C++. Currently I'm struggling to correctly implement PBKDF2 function. I've tried so many sources of information, like: PBKDF2 in Golang NIST page 7 Ian's fantastic tool Another tool Excellent guide and many others. Some of them as a source of code, some for checking computational results. From 5. I understand that SALT parameter of PBKDF2 has to be "mnemonic" string. According to 1. and 2. I have to concatenate SALT with an 4 byte representation of an integer 1 (bitcoin does not require 2, 3, ... ). Is it true? Do I have to concatenate SALT with "0001" as a simplest SALT input or "mnemonic" is enough??? What is the correct padding of mnemonic sentence string? Is it required to keep spaces between words or not? From what I already know HMAC-SHA512 message padding starts with SALT (128 bytes block) followed by mnemonic sentence. I believe that I've tried every c...

MetaMask monthly active users (MAUs) currently stand at over 30 million, a near 2X surge from around 19 million recorded in September 2023.  This uptick could be a huge positive indicator of growing activity around non-custodial activities, including decentralized finance (DeFi) and non-fungible token (NFT) minting. Is DeFi Ready To Blow? MetaMask Records More Users A crypto commentator on X, citing Blockworks, took  note  of the exploding MetaMask numbers, hinting at renewed momentum in the broader crypto market, especially in compatible networks, primarily Ethereum. It should be noted that the rising number of MetaMask users coincides with the recovery of Bitcoin and Ethereum prices from late Q3 2023 throughout Q4 2023 to spot rates. Ethereum, the second largest crypto by market cap, trades at around $3,000 when writing. Traders and supporters are optimistic, expecting more price gains in the coming sessions. Confidence primarily stems from ongoing network enhancem...

On-chain data shows the Bitcoin inflows going towards “accumulation wallets” have hit a new all-time high, a sign that could be bullish for the asset. Bitcoin HODLer Inflows Recently Hit 25,300 BTC As explained in a post on X by Ki Young Ju, the founder and CEO of the on-chain analytics firm CryptoQuant, Bitcoin inflows toward accumulation wallets have hit a new ATH. Now, what exactly are accumulation addresses? According to Ju, the wallets that satisfy the following five conditions are counted among these accumulation addresses. The first condition is that the address must have no outgoing transaction. This naturally means that an accumulation address would have only witnessed incoming transfers. Second, the balance of the address should be at least 10 BTC. At the current cryptocurrency exchange rate, this lower limit is equivalent to around $512,000. The third rule is that the address shouldn’t be part of centralized exchanges or miners . These two are special entities on the ...