Regulatory crackdown in the US leaves market shaken 🔻

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The regulatory crackdown in the US and a lack of support from Nasdaq led to a bearish session on Thursday. The crypto market cap fell by over 3.2% to $1.02T. BTC is also trading below $22,000 for the first time since January 19. ETH too is down by over 5%. The BTC Fear & Greed Index fell to 48/100 as investor sentiment took a hit. The US market is expected to offer some direction later today.

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*Last updated at 9:00 am, 10 February 2023

From the crypto news wires 📰

🐶 Shibarium hype leads to peakWith the community looking forward to the Shibarium launch, the demand for SHIB tokens is on the rise. Coinmarketcap data shows that the total SHIB wallet addresses has surpassed 1.3M. The top 100 addresses hold 81.24% of the total supply. Over the last month, SHIB’s price has seen a jump of over 40%, helping Shiba Inu inch closer to the crypto top 10.

​​💸 Dormant BTC wallet moves 411 coinsAmid the bear market, an old dormant BTC address has come back to life, according to recent reports. The BTC address 1MMXRA belonging to Satoshi-era had made all of four transactions since 1 October 2012. But the wallet holding 412.12 BTC was almost emptied on 8 February. Assuming each BTC was sold for $23,000, the owner would have raked up a 120,000,000% profit.

🪁 Bitcoin network activity shoots upThanks to the buzz around the newly launched OnChain Monkey NFT collection on Bitcoin, the crypto giant’s network activity is now the highest since April 2021. The NFTs are directly stored on the Bitcoin chain via the Ordinals protocol and are using Taproot. As a result, some blocks have exceeded the 4 MB block size limit. That’s quite large compared to the standard block size of 1 MB.

🎶 Rihanna song royalties sold as NFTsThe producer of Rihanna’s hit song “B*tch Better Have My Money” (BBHMM) has launched a collection of NFTs based on the song. The collection of 300 NFTs sold out on 9 February, generating $63,000 in revenue, according to Etherscan data. A tiny fraction of the royalties was redistributed to 205 people via 300 Ethereum NFTs. The Ethereum NFTs give holders 0.0033% of the song’s streaming royalties.

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