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Bitcoin price reached $73,777, marking it as a peak, and has not surpassed it yet. Last week, BTC dropped below $57,000, triggering significant losses in altcoins, though Friday’s ETF entries were a morale booster. What important developments have occurred in the last 24 hours? What should investors expect now?
Current State of Crypto Markets
Recently, the SEC sent a Wells Notice to the Robinhood platform for offering unregistered crypto services, indicating an intention to sue. This notification informs the opposing company about an impending lawsuit. We will see to what extent this announcement, made before the US markets opened, will dampen today’s ETF optimism.
On the other hand, it has become normal for the SEC to sue many companies in the region. Although it seemed like a death sentence for companies in the past, after years of ongoing lawsuits, we have seen that the SEC’s hand is not as strong. Perhaps that’s why the BTC price has not suffered massive losses for now.
Bitcoins Awaken After 10 Years
A dormant whale address from the era when Satoshi Nakamoto was still active has awakened. The address, which started holding 687 BTC ten years ago, moved the assets to two new addresses on May 6. The wallet first transferred 625.43 Bitcoins to an address starting with bc1qky, and the remaining 61.9 BTC to bc1qdc.
According to a Fortune report, a total of 1.75 million Bitcoin wallets have been inactive for over a decade. Investors who bought when the price was still in double digits have a significant portion of their assets idle. The total value of assets in inactive wallets is worth $121 billion.
A significant portion of the maximum supply of 21 million, 1,798,681 BTC, is largely out of circulation.
1 Billion Transaction Milestone
After 15 years, the Bitcoin network has finally processed its billionth transaction, marking an important milestone. Fifteen years, four months, and four days after Satoshi Nakamoto launched the network’s first block on January 3, 2009, an average of 178,475 transactions occurred daily, surpassing the 1 billion threshold.
