U.Today presents the top three news stories over the past day. Take a closer look at the world of crypto!
Bitcoin to $400,000? Max Keiser points to BTC price growth estimate
According to recent on-chain data, on Dec. 25, the Bitcoin network reached a historic milestone, recording an all-time high mining hash rate of 544 exahashes per second. This spike is consistent with BTC’s outstanding price trajectory, which has increased by 163% since the beginning of the year and reflects a notable increase in hash rates. The event was not left unnoticed by Max Keiser, renowned Bitcoin evangelist. He took to X platform, suggesting an implied hash-adjusted price for BTC that surpasses $400,000. While this sparks speculation about potential price models, the practical implications are exerting increasing pressure on miners grappling with a substantial dip in profitability. For the mining community, the simultaneous spike in hash rates and BTC price presents a paradox. High hash rates mean that miners must intensify their efforts to secure the next block, translating into elevated operational costs and a challenging operational landscape.
Tron founder Justin Sun sparks concerns with $13.8 million Ethereum withdrawal from Binance
As reported by PeckShieldAlert X account, yesterday, Dec. 26, Tron founder Justin Sun was spotted withdrawing a significant amount of Ethereum from Binance crypto exchange. The transaction carried 6,166 ETH worth approximately $13.8 million. The transfer was marked as “suspicious Justin Sun related” in PeckShieldAlert’s post, which raised concerns and speculation among the crypto community, with many of its members questioning the motives behind such a substantial withdrawal. This move by Sun comes after his earlier shifts of SHIB tokens from Binance; first, he withdrew 500 billion SHIB tokens, then another 77 billion SHIB followed. All the aforementioned withdrawals add to the intrigue surrounding Sun’s crypto activities. The crypto community is now keeping a close eye on his actions or statements that could clarify the reasons behind these noteworthy transactions.
Elon Musk’s cryptic post raises SHIB, XRP, DOGE armies’ enthusiasm
The world-famous centibillionaire Elon Musk has once again puzzled his followers with a cryptic X post. The post consists of “1” and “8” symbols, forming the logo of the X platform, and ends with a few words. Therefore, the whole message can be read as “X is a prime, with 1800 digits.” The post drew the attention of many crypto-related X accounts, gaining over 14,000 comments. Among the prominent figures in the cryptocurrency space that commented on Elon Musk’s riddle were Jerome Powell and Billy Markus, founder of Dogecoin meme crypto, with numerous representatives of the SHIB, XRP and DOGE armies voicing their opinions about the hidden meaning behind the message. However, despite various communities, be it XRP, SHIB and others, trying to get Musk’s attention, he remains indifferent in return and does not seem to show an interest in altcoins.