According to a number of reports and data from analytical websites, the Ethereum (ETH) blockchain has split into at least two versions due to a number of Geth nodes failing to upgrade to the proper chain. On Friday afternoon, the Ethereum network’s communication channel, “Go Ethereum,” tweeted about the event. The old version of the Geth client is used by more than 70% of the Ethereum network’s nodes. On August 24, the Twitter account Go Ethereum told the public about the upgrade and said: “Heads up. Geth v1.10.8 is out, fixing a security vulnerability in all live versions of Geth. All Geth users need to update. Further details will be provided at a later date to avoid attacks on Ethereum and downstream projects.”
According to data from Cointelegraph Markets Pro and TradingView, the price of Bitcoin fell to a low of $46,457 following its rejection before bulls were able to regroup and put a stop to the downturn. The $50,000 price level was identified as a critical area for Bitcoin by market analysts. According to van de Poppe, Bitcoin is likely to remain in a downward trend following this latest pullback, but there is significant support at $44,000 that could keep it from falling further. According to Whalemap, a crypto-focused data tracking service, the calls for a lengthy bear cycle are premature at best according to on-chain data. The $46,200 support level is important as the next support level is found at $39,600. On-chain data also shows that there is a limited amount of selling volume between $46,200 and $57,400.
Bitcoin (BTC) is presently facing a critical barrier level to breakthrough following a tremendous 70% rebound since the last bottom in July at $28,000. This obstacle is located in the psychological range of $50,000 to $51,000 and might be categorized as the final barrier before reaching new all-time highs. This correction started when Michael Saylor revealed that MicroStrategy has purchased another $177 million worth of Bitcoin, while the company is already one of the largest holders of Bitcoins recently. The market hasn’t experienced a correction since the recent low of $28,000, but one might be on the way.
According to a Trend Micro report, over 120 fraudulent crypto-focused applications are still active on the Google Play Store, with some having over 100,000 downloads. Google has delisted eight allegedly fraudulent mobile apps from its Play Store that were duping crypto enthusiasts by charging fees for an illegitimate cloud mining service. According to the study, customers were charged not just a monthly cost of about $15, but they were also subject to additional charges for allowing “enhanced mining capabilities.” Furthermore, several of the apps demanded an advance payment from the user.
Binance is providing crypto services in the Netherlands without the required legal registration with the DNB. This means Binance is not in compliance with the Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme – Wwft) and is illegally offering services for the exchange between virtual and fiduciary currencies and it is illegally offering custodian wallets, the central bank reported. Malaysia, Japan, the United Kingdom, the Cayman Islands, Hong Kong, Thailand, Germany, and Lithuania have all issued warnings against the cryptocurrency exchange.
According to blockchain analytics provider Nansen, the Eth2 staking contract has surpassed Wrapped Ethereum (wETH) to become the single largest holder of ETH. Unlike Ether, Wrapped Ether adheres to the ERC-20 standard, making it the favored representation of ETH among decentralized finance protocols that use ERC-20 tokens. Alex Svanevik, CEO of blockchain analytics startup Nansen, shared the results on Twitter on Tuesday. According to the statistics, the Beacon Chain’s deposit contract has 6.73 million ETH, which is about $21.5 billion at current rates. By contrast, Nansen’s data suggests the Wrapped Ethereum contract holds 6.7 million ETH ($21.4 billion), followed by Binance with 2.29 million ETH ($7.3 billion).
BTC/USD giving up $46,000 overnight on Saturday after an earlier failed breakout. According to Cointelegraph, bulls ran out of steam amid an attempt on a big sell wall that was holding Bitcoin back from $50,000. Buy and sell levels on major exchange Binance showed the $48,000 sellers still firmly in place, with support amassing at $45,000 after the modest leg down. BTC/USD had almost completed preparation for a rematch of all-time highs in a zone above resistance at $50,000 and higher.
On Friday, Aug. 13, a total of $675 million in Bitcoin (BTC) options are due to expire, and the bulls now have a substantial edge following a 20% weekly rise to $46,743. According to Cointelegraph, the favorable move witnessed from institutional investors was underlined by deposits to derivatives exchanges reaching their lowest levels since May 11 and entities with 10,000 to 100,000 BTC adding more than $12 billion to their holdings. Meanwhile, cryptocurrency adoption continues to rise as the Paypal-owned payments firm Venmo has expanded its support by allowing credit cardholders to convert their cash back rewards into four cryptocurrencies.
Helium (HNT) is one of the projects that offer a revolutionary use case capable of improving the way society operates through the integration of blockchain technology. Helium is a decentralized peer-to-peer 5G wireless network that made headlines on Aug. 10 thanks to the successful completion of a token sale that raised $111 million from multiple investors. HNT price spiked 30% from a low of $14.03 to an intraday high at $18.14 following the fundraise announcement. One of the most important factors contributing to the Helium network’s credibility is its growing network of nodes, which exceeded 100,000 in July.
According to data from Cointelegraph Markets Pro and TradingView, the price of Ether (ETH) saw a “sell the news” sell-off immediately after London went online, but dip buyers rapidly rushed in and drove it back above $2,800, its highest level since June 7. This bullish momentum extended further after the Bitcoin price surged above $44,000 and at the time of writing Ether trades at $3,050.