Max Keiser Points to BTC Price Growth Estimate, Justin Sun Withdraws $13.8 Million ETH From Binance, Elon Musk’s Post Sparks SHIB, XRP Armies’ Curiosity: Crypto News Digest by U.Today
In recent on-chain data, the Bitcoin network reached a historic milestone on Dec. 25, 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. Renowned Bitcoin evangelist Max Keiser suggests an implied hash-adjusted price for BTC that surpasses $400,000, sparking speculation about potential price models. However, the practical implications are exerting increasing pressure on miners grappling with a substantial dip in profitability. The simultaneous spike in hash rates and BTC price presents a paradox for the mining community, as high hash rates translate into elevated operational costs and a challenging operational landscape.
Tron founder Justin Sun sparks concerns with $13.8 million withdrawal from Binance
On Dec. 26, Tron founder Justin Sun withdrew a significant amount of Ethereum from Binance crypto exchange, raising concerns and speculation among the crypto community. The transaction carried 6,166 ETH worth approximately $13.8 million and was marked as “suspicious Justin Sun related” in PeckShieldAlert’s post. This move comes after Sun withdrew a large amount of SHIB tokens from Binance, adding to the intrigue surrounding his crypto activities. The 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 has once again puzzled his followers with a cryptic post. The post consists of “1” and “8” symbols, forming the logo of the X platform, and ends with a few words. The post drew the attention of many crypto-related accounts, gaining over 14,000 comments. Despite various communities trying to get Musk’s attention, he remains indifferent in return and does not seem to show an interest in altcoins.
