"I should have bought it" is a news podcast with the editorial staff of ForkLog about the main industry events of the week and the "hottest" tokens.
Topics: the pressure of the Mt.Gox factor, the "bears" from Germany, the expectation of Ethereum-ETF and glimpses of justice in the crypto industry.
Participants: ForkLog authors Lena Jess, Alex K., Vasily Smirnov.
How serious is the Mt.Gox factor?
The bankrupt Mt.Gox exchange transferred 47,229 BTC ($2.99 billion) and 48,641 BTC ($3.1 billion) to unidentified addresses. Among the major recipients of the asset was the American Kraken exchange.
Against the background of the movement of coins by the exchange, the price of bitcoin has failed the level of $ 63,000. A similar scenario was observed at the end of June, when the trustee of Mt.Gox announced the start of compensation payments.
However, some experts consider the Mt.Gox factor to be exaggerated. For example, CryptoQuant CEO Ki Yun Joo noted that since 2023, during the current bullish phase, $224 billion worth of digital gold has been sold on the market, but its price has increased by 350%.
Germany sold 50,000 BTC
After the "emergency sale" of 49,858 BTC, the German government managed to raise an "unprecedented" €2.6 billion ($2.88 billion).
We are talking about assets confiscated from the pirate portal Movie2k in January. At that time, their value was about $2.17 billion.
The agencies responsible for the funds were forbidden to wait for prices to rise due to "unsuitable" market conditions, so the transactions were made "as soon as possible."
Should we wait for Ethereum at $5,000?
The SEC has approved applications to launch a mini-ETF based on Ethereum from Grayscale and a spot exchange-traded fund from ProShares, which are expected to begin trading on July 23. The products do not provide for staking, but the situation may change in the future.
Grayscale Ether Mini Trust will charge a commission of 0.25%, while the senior counterpart will charge 2.5%. Analysts believe that the launch of these funds will help mitigate possible outflows of funds from ETHE and attract a wide range of investors.
Bitwise analysts are confident that the Ethereum-ETF will push cryptocurrency quotes to historical highs above $5,000. However, the company's investment director Matt Hougan noted that the price dynamics may initially be unstable due to the outflow of funds from the Grayscale Ethereum Trust.
Hacking for $235 million
On July 18, the Cyvers Alerts service reported the hacking of the Indian cryptocurrency exchange WazirX. Experts have discovered a series of suspicious transactions from the platform's multisig wallet on the Ethereum network, which led to the transfer of assets worth $234.9 million to a new address.
The attacker exchanged PEPE, GALA and USDT for ETH and stole more than $100 million in Shiba Inu tokens, 15,290 ETH ($52 million) and 20 million MATIC ($11 million). The exchange suspended all conclusions and launched an investigation, confirming the leak of the private key as the cause of the hack.
Elliptic analysts tracked the movement of the stolen funds and said that North Korean hackers were behind the cyberattack.
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