Crypto Market Overview July 12th | Dex-Trade
The Number of Bitcoin Wallets Has Exceeded 1 Billion
It seems that the global economic crisis, regular collapses of the crypto market and the collapse of fairly large digital assets against the backdrop of record volatility of the market flagships do not cause much damage to the popularity of Bitcoin, as Glassnode alerts writes that the number of Bitcoin addresses exceeded 1 billion. To be more precise, according to the data to date, the platform has recorded 1,000,002,559 registered Bitcoin wallets. It is worth considering that this number includes both stolen and lost addresses, which can still hold the coin, but can no longer be recovered for various reasons. A number of recent crises in the crypto industry have, however, contributed to a decrease in investor interest in BTC, as most of them seem to have begun to avoid investing in high-risk assets. However, the market flagship offering has prompted some investors to reconsider and consider the possibility of profiting from Bitcoin in the longer term. Moreover, in parallel with the “growing up” of the cryptocurrency market, buying on a decline has become a popular investment technique, especially for those who do not expect to make a quick profit. In addition, the growth in the number of BTC addresses can be considered as a bullish indicator. However, it is still too early to bet on it.
Ex-Ripple CTO Has Less Than 14 Million XRP Left in His Wallet
Former Ripple Labs CTO, Jed McCaleb, who wanted to sell all his XRP holdings 9 years ago, sold 40 million coins over the past week, leaving less than 14 million XRP in his account, which will probably also be sold in the coming days. McCaleb left Ripple Labs, then known as OpenCoin, back in 2013 of his own free will due to the fact that, unlike other co-founders, he considered the company's development vector to be fundamentally wrong. During his departure as CTO, he received 9 billion XRP in compensation for his services in the technical support of the company, as well as for helping to create it. However, McCaleb’s dismissal contract prohibited him from selling his digital coins one-time and instantly, so the parties had to develop and approve a plan to sell XRP in small portions. Obviously, fans of the coin and its long-term holders do not have particularly warm feelings for McCaleb and accuse him of influencing the XRP price drop. On the XRP chart from June 24 to 27, you can see a gradual drop in the value of the token, which is associated with the sale of 22.1 million coins by McCaleb. The same can be said about some other coincidences. Of course, many factors influence the price of an asset, but the accusations of McCaleb's opponents clearly did not arise from scratch.
“It’s Pretty Obvious” that ETH Is a Security: Details of a New Interview With Michael Saylor
In a recent interview with Altcoin Daily, MicroStrategy CEO Michael Saylor talked about why he considers ETH a security and not just a digital asset. “I think it’s pretty obvious it’s a security. It was issued via an ICO [initial coin launch]. There’s a management team. There was a pre-mine. There’s a hard fork. There are continual hard forks. There’s a difficulty bomb that keeps getting pushed back.” — Sailor said. The entrepreneur considers the difficulty bomb to be the main criterion for the identity of ETH and securities. It’s designed to increase the difficulty of mining the coin (to discourage miners) and is capable of completely “destroying” the crypto-silver mining industry. And here is a feature that automatically delays the "explosion" of this complexity bomb every six months and makes ETH a security. But don't forget the forks: “One of the fundamental insights in the crypto industry is the fact that you can change it is what makes it a security. If you look at most of these cryptos, where they have hard fork after hard fork after hard fork, the problem with a hard fork is changing the protocol means that some development team is making a decision, and if you can change the protocol in a material way, you can change the monetary protocol. A hard fork can change the issuance pattern, or it can change the value of something. So that makes an investment contract under securities law.” Well, where exactly is he wrong?
