Crypto News Digest by U.Today
Don’t miss anything important in the crypto industry; read U.Today’s news feed to stay informed!
Check out the top four news stories from the past day that U.Today presented to you.
Bitcoin’s difficulty hits an all-time high as its price stays below $40K
While the largest cryptocurrency, Bitcoin, does not appear to be moving up to surpass the $40,000 level, the other stats show significant growth. According to data from BTC.com, Bitcoin’s difficulty has hit a new all-time high of 29.7 trillion, peaking at more than 5% in the past two weeks. In addition, Bitcoin’s hashrate rose to 220.49 EH/s, a new all-time high. This indicates that the network has reached its maximum resilience, making it extremely expensive for attackers to gain control of the network.
Currently, Bitcoin is trading at $38,966, according to CoinMarketCap.
Here’s Why Ethereum Price Will Likely Turn Positive Per Santiment Soon
Data from the Santiment analysis service shows that the price of Ethereum may rise soon. The Santiment team gives three reasons for this. First, the utility of Ethereum is increasing, with the number of unique addresses interacting on the Ethereum chain showing a slight growth. This provides strong conditions for an ETH price increase. Second, Ethereum’s profitability remains high; nearly 70% of ETH addresses keep the asset in profit. Third, Ethereum expects its “Merge” upgrade to launch this summer. In addition to becoming a greener crypto, this upgrade will reduce the coin’s circulating supply as far fewer Ethers will be minted via PoS.
Shiba Inu Price Chart Points To Upcoming Move, Indicators Reveal
According to the Shiba Inu daily charts, SHIB is consolidating within a triangle pattern while momentum indicators, especially the RSI, are near the neutral mark of 50. This suggests that Shiba Inu may remain in a consolidation phase within the triangle for some time to come. before a possible price breakout. Meanwhile, IntoTheBlock data shows that the number of Shiba Inu holders has fallen from 1,199,453 in mid-March to 1,139,916. Analysts point out that a price increase combined with a decrease in network interactions or a decrease in network users could signal something. The indication could be that coin holders are quite relaxed and not shifting coins because they think prices may rise. As a result, they “hide” their assets and reduce their activity.
South Korean crypto exchange CEO arrested for spying for North Korea
Yonhap News Agency reports that a South Korean head of an unnamed cryptocurrency exchange has been charged with spying for North Korea. The director, whose last name is Lee, reportedly helped a North Korean spy gain access to sensitive military information in exchange for 700 million Korean won ($549,000). To do this, Lee bribed a military captain with 48 million won ($37,643) worth of crypto to gain access to a confidential military network. Both have been accused of violating a South Korean security law, which prohibits South Koreans from visiting North Korea or meeting with the state’s citizens without government approval.