Episode Details

22nd Oct: Blockchain DXB Podcast
🟠Bitcoin open interest exceeds $40B 🚀 Bitcoin hashrate ATH 👮🏻‍♂️Japanese authorities trace Monero ❌South African bank, blocks crypto
🟠 hashtag#Bitcoin open interest exceeds $40 billion for the first time. Info here https://shorturl.at/neyi3 The CME leads with 30.7% of this open interest, followed by Binance (20.4%) and Bybit (15%). High open interest can trigger sharp price movements and liquidations, leading to sell-offs in the spot market; a notable example was in August when Bitcoin dropped nearly 20%. As of October 21, Bitcoin reached a high of $69,380 but pulled back to around $69,033 after facing resistance. Check out today's Blockchain DXB we discuss the implications of this. We cover the following:
- Increased Volatility
- Market Sentiment and Speculation
- Potential for Liquidation Events
- Impact on Spot Prices
- Market Structure Changes
- Regulatory Attention
- Long-Term Trends
- Investor Strategy Adjustments
🚀 The Bitcoin hashrate hit a record 769.8 EH/s on October 21, showing increased network security. This growth, driven by advancements in mining hardware, has been steady since 2021. As mining costs rise, smaller firms may struggle to remain profitable, leading to potential industry consolidation. Energy-efficient rigs are crucial post-fourth Bitcoin halving for profitability. TeraWulf, valued at over $670 million and the sixth-largest Bitcoin miner, plans to expand its operations despite reduced block rewards. Via Cointelegraph https://shorturl.at/Byi83
🔥According to CryptoQuant On Oct. 20 here https://shorturl.at/4WYN0, Bitcoin mining firms sent a cumulative 2,916 BTC to (CEXs), marking the fourth-lowest day of selling in 30 days.
👀 Japanese police arrested Yuta Kobayashi, 26, suspected of leading a group involved in credit card fraud and laundering over 100 million yen through cryptocurrency, specifically Monero. The group conducted around 900 fraudulent transactions using stolen credit card details obtained via phishing between June 2021 and January 2022. Kobayashi's group also defrauded the flea market site Mercari. This is the first time Monero transactions have been analyzed to identify a suspect in Japan. Nikkei https://shorturl.at/K0hfj
🏦 Capitec Bank has blocked EFT and immediate payments to cryptocurrency exchanges via its app and business web interface, citing anti-fraud measures. Customers are encouraged to use Capitec Pay, with plans to integrate it with more exchanges. The bank’s app now communicates with its Fraud Center in real time to block payments flagged for fraud. This move aligns with earlier measures preventing South Africans from buying crypto on international platforms. Source