Crypto Guides, Knowledge & Insights

Participate in the WikiBit Review Event and Share Daily Prizes!

WikiBit User Review Event - Share Your Honest Opinions on Exchanges, Projects, and Tokens!　　Event Period: Event Period: From October 25th to October 29th, 2023.　　　　Ready to share your thoughts and have a chance to win prizes？ The time is now!✨Event Details　　WikiBit is your trusted platform for cryptoDcurrency safety, offering in-depth assessments and information about exchanges, projects, and tokens. To better understand your views on the cryptocurrency world, we are hosting a special user review event.　　Every day, we will feature three popular cryptocurrencies or projects on the WikiBit APP. You just need to choose one of them for a review and provide your subjective opinions on the related page. This is a great opportunity to share your investment experiences and insights.✨Surprise Prizes　　To show our appreciation for your participation, we will select some lucky reviewers after the event ends. The more likes your reviews get, the higher your chances of winning!　　Announcing the Winners　　Every day, there will be 6 winners ranked by the total number of likes, and the daily winners will be announced after the activity ends at the end of the week.　　 Prize Categories　　First Prize: 1 winner, 3u　　Second Prize: 2 winners, 2u each　　Third Prize: 3 winners, 1u each✨Review Requirements　　a. Rate and give

2023-10-24Deep Dive

Curious Patterns Emerge Amid XRP Price Explosion

The XRP price saw a rapid increase alongside the rest of the crypto market over the weekend, bringing its price finally above the $0.53 mark. Amid this increase in price has emerged a pattern that suggests what might be going on with the altcoin.Real Volume Amid XRP Price Rally　　In the real volume chart by Messari, an interesting pattern can be seen with the XRP price rally. For one, the real volume shows how trading volume has spiked at various price points. The most notable of these is what happens when there is an XRP price spike.　　Volume tends to jump at these points suggesting that there is a high degree of interest in the altcoin. This means that as XRP tokens go on the market, there are eager investors waiting to pick up on this available supply and defend the price.　　Mostly, the bulls have been able to dominate during these times where they have been able to maintain support for the price. This was seen when there was a dip to $0.51 as investors in profit rushed to secure their gains. But not too long after, the XRP price was back up, suggesting that bullish investors have continued to maintain dominance

2023-10-24Deep Dive

Is The Bitcoin Trend Beginning Its Most Bullish Phase?

You might not realize it yet, but Bitcoin price could be in a bull market, on the cusp of a major breakout into its most bullish phase yet.Bitcoin Could Get Impulsive If 2023 High Is Broken　　Bitcoin price is back above $34,000 after spending more than a year in the $20,000 range. A higher high above the current 2023 record – which is less than $1,000 away at this point – could send the top cryptocurrency into overdrive.　　If price action marches higher from here, there‘s a strong chance that BTCUSD has entered what’s called an impulse phase. An impulse phase is the most bullish (or bearish) point of any trend, just before things begin to accelerate.　　This only occurs when certain psychological price thresholds are surpassed. When price begins to rapidly increase in this manner, it caused the Relative Strength Index to reach overbought levels. While this sounds like a negative thing for a rallying asset, Bitcoin and other cryptocurrencies can remain overbought for extended periods during the strongest trends.　　The daily RSI has pushed into overbought territory, with the 3-day right behind it. Once the weekly RSI also reaches overbought, there wont be any stopping the bull run. The last time the

2023-10-24Deep Dive

Bloomberg Analyst: BlackRock Possibly Approved, but Multiple ETFs Expected Simultaneously

Bloomberg ETF analyst Eric Balchunas has mentioned, “BlackRock either got a green light or is predicting and doing everything in preparation. We still believe multiple ETFs will launch together, rather than BlackRock getting the approval ahead of others.”　　As previously reported, BlackRocks iShares Bitcoin Trust, with the ticker code IBTC, has been listed on DTCC (Depository Trust s important to emphasize that this listing does not imply that the ETF has received approval from the SEC (U.S. Securities and Exchange Commission).　　

2023-10-24Deep Dive

Unauthorized 0x7bA7 Addresses Lack TUSD Contract Access and Team Affiliation

TrueUSDs recent announcement on X platform states that there needs to be clarification regarding the address (0x7bA7EF06A2621267f063eF2DB2d482D5B507D8b3). This address has no permissions over the TUSD smart contract; it is specifically designated for token deployment. It has no authority over the current TUSD contract or user token assets and has no impact on the operation of TUSD. The address is not owned or controlled by the TUSD team, and there is no affiliation between the TUSD team and this address.　　Since the end of 2020, the TUSD team has gained ownership of the TUSD contract. TUSD tokens are protected by the smart contract, which is securely owned and managed by the TUSD team.　　Earlier today, TrueUSD clarified in its announcement on October 16th that it has “no relationship” with TEURO. However, blockchain analytics company ChainArgos points out that the TEURO token contract was deployed using one of TrueUSDs private keys. Given that TrueUSD acknowledged a hack no later than September 18th, and TEURO was deployed ten days ago, there appears to be only one explanation:　　Someone has access to some of TrueUSDs private keys.　　This suggests that TrueUSD may not have disclosed the full extent of the hack.　　Considering that someone (Sun Yuchen) successfully minted 850

2023-10-24Deep Dive

Bitcoin Price Reached $35,000 After Months, Uptober Is Coming

Bitcoin is making a significant resurgence, nearing year-to-date highs, as it continues its remarkable uptrend. On October 23, Bitcoin price reached new number during the first US trading session of the week. BTC price chart. Source: TradingView　　Bitcoin price has crossed the $35,000 mark, pushing its monthly gains into double digits, indicating an increasingly bullish sentiment among investors. However, essential indicators suggest that the cryptocurrency is poised to climb even higher in the coming days.　　An intriguing factor contributing to Bitcoins continued dominance is the surprising rise of Bitcoin Dominance (BTC.D), which has been on an upward trajectory for eight consecutive weeks since August 21.BTC.D chart. Source: TradingView　　Historically, when the Bitcoin price achieves significant gains and reaches milestone levels, investors tend to diversify their portfolios into altcoins to maximize their returns. This time, though, the skittish macroeconomic landscape and ongoing events in the Middle East crisis appear to be keeping investors from venturing into altcoins.　　Despite Bitcoin‘s surge, market participants are cautious and believe that a weekly candle close is needed to confirm the rally’s sustainability.　　Excitement is brewing within the crypto community as rumors circulate about the potential approval of the first-ever spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange

2023-10-24Deep Dive

BlackRock's iShares Bitcoin Trust Listed on DTCC with Ticker Symbol IBTC

BlackRocks iShares Bitcoin Trust, with the ticker code IBTC, has been listed on DTCC (Depository Trust s important to note that this listing does not imply that the ETF has been approved by the SEC (U.S. Securities and Exchange Commission).　　

2023-10-24Deep Dive

Can Bitcoin Surpass $70,000 In The Next 6 Months? Analyst Provides Answers

The recent surge in Bitcoin‘s price over the weekend caught many market observers by surprise. The alpha coin marked a 1.5% gain in the last 24 hours, bringing Bitcoin’s value above the psychologically important $30,000 threshold, which also serves as a key resistance level.　　At the time of writing, Bitcoin was trading at $30,154, up 12% in the last seven days, data from crypto market tracker Coingecko shows. On October 16th, the cryptocurrency briefly spiked to around $30,000 on Binance due to false reports of an approved spot Bitcoin ETF. However, as soon as the truth about these reports came to light, the market swiftly corrected.　　Just two days later, Bitcoin once again rallied to $30,000, but it struggled to maintain this crucial level, facing resistance and fluctuations. These multiple attempts indicate the significance of the $30,000 price point as a key battleground for Bitcoins near-term price movements.Influential Factors Behind Bitcoin‘s Recent Surge　　The recent surge in Bitcoin’s price doesn‘t have a clear cause, but it’s likely driven by market optimism surrounding the potential approval of a Bitcoin ETF by the U.S. Securities and Exchange Commission.　　This optimism is based on the belief that a Bitcoin ETF approval would offer more accessible and regulated

2023-10-23Deep Dive

Binance Visa Debit Card Discontinued In Europe As Results From Regulatory Pressure

Binance Visa debit card service in Europe will be discontinued due to regulatory scrutiny and retrenchment. Existing cardholders can use their cards until Dec. 20, as per BBG.　　Binance is reportedly discontinuing its Visa debit card service in Europe. The decision comes as Binance faces increasing regulatory scrutiny and retrenchment from major financial partners. Existing cardholders in the European Economic Area will still be able to use their cards until December 20. However, new applications for the Binance Visa Card are no longer being accepted.Impacts of Binance Visa debit card discontinuing　　According to a Binance spokesperson, approximately 1% of Binances user base will be affected by this change. The Binance Visa Card allowed users to convert and spend cryptocurrencies at over 60 million online and offline merchants worldwide. It was made available to users in European countries such as France, Germany, and Spain.　　Binances partnership with Visa has been scaled back, with Visa ceasing the issuance of new co-branded cards with Binance in Europe since July. The move follows increasing regulatory pressure on Binance from US authorities, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).　　The SEC has sued Binance and its CEO Changpeng Zhao for securities rule

2023-10-23Deep Dive

Major Exploit Sees $6 Million In XRP Lost

Philippines-based crypto exchange Coins.ph is rumored to be the latest victim of an exploit that has potentially led to the loss of 12.2 million XRP ($6 million) for the firm. However, a part of these funds seem to have already been recovered.　　Related Reading: A Precious Rally: Bitcoin And Gold Revisit August PeaksEvidence Of The Alleged Exploit　　According to a report by The Block, the hack on the crypto exchange occurred on October 17, with the media outlet citing a source familiar with the matter. Coins is yet to release an official statement as to whether or not the incident truly occurred.　　However, on-chain data suggests that this exploit might have indeed occurred, as The Block noted. According to data on the blockchain explorer XRP scan, the crypto exchange experienced 13 outflows, with 999,999.999 XRP sent out from the exchange in each transaction to the same wallet, although the last batch seems not to have been processed.　　Following that, a further 200,000.999999 XRP was sent out of the exchange. It is worth mentioning that all these transactions occurred in the space of 32 minutes as they all occurred simultaneously. The total of these transactions (the ones processed) sums up to over 12.2 million XRP.XRP

2023-10-23Deep Dive

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