Today’s crypto news round-up : • BTC Miners Sold Dorman | Bitcoin & Crypto Trading

Today’s crypto news round-up :

• BTC Miners Sold Dormant Coins: Contributed to price drop as they sold long-dormant bitcoin sourced from old block rewards.
• Binance.US Layoffs: Laid off two-thirds of its workforce following an SEC suit, leading to a loss of around $1 billion in assets from the platform.
• SEC Delays Ether ETF Decision: Asked for public comments on the approval of spot ether ETFs and their susceptibility to manipulation.
• Crypto Market Recovery: Bitcoin and other cryptocurrencies like SOL, ADA, and ether rebounded, driving a broader market recovery. Bitcoin ETF volumes broke the $10 billion mark.
• BRICS Blockchain Payment System: The BRICS nations plan to develop a blockchain-based payment system that is convenient and free of politics.
• Bitcoin and Inflation: Despite recent rallies, Bitcoin has not kept up with inflation since its last all-time high in November 2021. The current value of BTC would need to hit $78,905.45 to match its 2021 value when adjusted for inflation.
• Bitcoin’s Value Proposition: Despite not keeping up with inflation, Bitcoin’s limited supply and recent performance during a period of high interest rates strengthen its position as a store of value. It has appreciated more than 50% year-to-date.

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