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Why do Whales accumulate BTC?
In recent times, the Bitcoin market has become a playground for multiple players. Top BTC holders, commonly referred to as whales, surged during this week, according to the cryptocurrency analytics platform Santiment.
Santiment notes that whales have introduced nearly $931.3 million in tokens to the crypto market since Tuesday. This is the longest period of sustained accumulation for the whales since May this year, according to the platform.
McDonald’s accept payment in crypto
Since November 2021, the price of Bitcoin has gone from €60,000 to €20,000, but big companies continue to believe in it and expand their use of crypto. This is the case of McDonald’s, which has integrated Bitcoin support in some of these restaurants in El Salvador.
For more than a year in El Salvador, it has been possible to pay for McDonald’s with Bitcoin. Once the menu has been ordered, the terminal will print a ticket with a QR code necessary to send funds in BTC. With the Lightning Network, transactions are as fast as paying by credit card. It is important to specify that this means of payment is not intended to replace other means of payment such as cash or bank card.
A hacker stealing nearly 2 million BNB tokens
In just two transactions, an unknown wallet transferred over 2 million BNB tokens. Which equates to over $560 million, to various blockchains. At this precise moment, it was impossible to know if the movement was due to whale action or piracy.
After several investigations, the BNB Chain team claimed that the shutdown of the blockchain was indeed due to a hack of the “Bridge cross-chain BSC Token Hub“. This Cross-chain makes it possible to transfer funds between the “BNB Chain beacon” and the “BNB Smart Chain”.
The hackers transferred some of the stolen cryptocurrency. Fortunately, most of the funds were frozen after the blockchain was shut down. However, about 80% of the funds, or nearly $430 million, remained on the BNB channel. The network has been updated with additional code to prevent hackers from transferring funds. As of this writing, the BNB smart chain has been reactivated and block production has resumed.
The European Council takes a new step in the regulation of crypto
Europe will go even further this year in implementing new rules for the digital asset market and its players. At the end of September, the final version of the text and the preliminary MiCA agreement. This one had been in preparation since the end of June, was published.
The content of MiCA (Markets in Crypto-Assets) has been reviewed by members of the Council of Europe. Thus, according to the General Secretariat, the future European regulation was approved at first reading.
Do not hesitate to read our Crypto News of 09/27 !
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This article is not investment advice. Do your own research before investing in the cryptocurrency market.