Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Investors are “spooked” despite outsized Bitcoin performance over last 12 months, says VanEck. Long-dormant wallets from 2009, likely belonging to early Bitcoin miners, recently moved their funds after years of inactivity. And crypto exchange BingX confirmed it suffered “asset loss” at the hands of a hacker, which kicked its exchange into emergency mode.
Bitcoin outperforms nearly every asset over past 12 months
Asset manager VanEck says Bitcoin has outperformed nearly every asset class over the past 12 months. According to a report released on Sept. 19, Bitcoin is up 15% by market cap year over year, and spot BTC prices have more than doubled.
VanEck reported that it remains bullish over the long term, but recent downturns have caused some investors to become “spooked.” The positive notes may not ring true for the entire sector, however, as miners appear to have benefited the least during the past year’s boom.
Bitcoin miner wallets awaken after over 15 years — Is this Satoshi?
On Sept. 20, five miner wallets that received 50 BTC each as block rewards in 2009 started to move their funds after years of silence.
Given the BTC was mined only weeks after the launch of the Bitcoin blockchain, the wallets likely belonged to people present at its inception. At the time of initial disbursement, Bitcoin had none to little monetary value but eventually reached $1 by 2011.
BingX confirms losses amid hot wallet movement panic
The Singapore-based crypto exchange BingX has confirmed it suffered “minor asset loss” after X users noticed “suspicious” outflows from one of its hot wallets.
“We immediately started our emergency plan, including the urgent transfer of assets and [withdrawal] suspension,” Lin added.
She said BingX stored a minimal amount of crypto in its hot wallets and that “there has been minor asset loss, but the amount is small and still being calculated.”