Bitcoin News Official TheBitTimes.com

The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occuring off-chain. A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transaction s occurring off -chain , or transaction s that take place beyond the blockchain network. Unlike on -chain transaction s, off -chain crypto transaction s are not instantly logged on a blockchain but are processed through secondary layers, thus creating some difficulties in being tracked. With the emergenc...

Bitcoin miners have been selling BTC since the start of June, potentially adding further pressure to the BTC price. Bitcoin’s on -chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high.  According to on -chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to exchanges.” Glassnode data shows Bitcoin (BTC) miners’ inflows to exchanges spiked to a three-year high on June 3 to levels last seen during the bull market of early 2021. Across the past week, #Bitcoin Miners have been sending a significant amount of coins to Exchanges, with the largest inflow equal to $70.8M. This is the 3rd largest inflow on record, -$30.2M less than the peak inflow of $101M recorded during the primary bull market of 2021. pic.twitter.com/w4fNFMcxr4 — glassnode (@glassnode...

Average daily addresses on the Binance blockchain network grew by 30% year-on-year in Q4. The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research. In a “State of BNB Chain Q4 2022” report published on Feb. 5, Messari researcher James Trautman revealed that the Binance network had continued with an “aggressive strategy to deploy financial and human capital across its ecosystem.” Due to these ongoing updates and developments, average daily active addresses and transactions “bucked a downward trend and grew by 30% and 0.2%, respectively,” the researcher noted. BNB Chain daily active addresses - Messari Bear market s are usually quiet periods in terms of on- chain activity , however, teams use this time to continue building and developing their products. “2022 was a tumultuous year for the crypto industry [...] Despite the market volatility, BNB Chain lived up ...