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.
Today in crypto, Bitcoin difficulty climbs to new all-time high, a crypto developer says Trump-linked crypto project WLFI froze his tokens and refused to unlock them. Meanwhile, a Bitcoin analyst is not convinced that Bitcoin will peak at the end of this year.
Bitcoin mining difficulty hits a new all-time high
The Bitcoin (BTC) mining difficulty climbed to a new all-time high of 134.7 trillion on Friday, up from the 129.6 trillion difficulty level during the previous adjustment period.
Despite the new all-time high difficulty, Bitcoin’s hashrate, the total amount of computing power securing the network, has fallen to 967 billion hashes per second, down from the August 4 all-time high of over 1 trillion hashes per second, according to CryptoQuant.
Bitcoin’s mining difficulty, a metric that tracks how hard it is to successfully mine a block and add it to the BTC ledger, continues to climb upward, as more computing resources are deployed to secure the network.
‘Scam of all scams’: Crypto dev claims Trump-linked WLFI ‘stole’ his money
A crypto developer has accused World Liberty Financial (WLFI), a crypto project with ties to US President Donald Trump, of stealing his funds by refusing to unlock his tokens.
In a Saturday post on X, Polygon DevRel Bruno Skvorc shared an email from WLFI’s compliance team, which flagged his wallet address as “high risk” due to blockchain exposure. The team said his tokens would not be released.
“TLDR is, they stole my money,” Skvorc wrote. “And because it’s the @POTUS [The president of the United States] family, I can’t do anything about it. This is the new age mafia. There is no one to complain to, no one to argue with, no one to sue.”
In response to another user, Skvorc claimed that he is one of six investors who were subject to 100% token lockups from the beginning. “It was not ‘high risk’ to accept money from this address, but it is high risk to unlock owed money into it,” he wrote.
Bitcoin traders tipping Q4 price top do ‘not understand statistics’ — Analyst
Traders who predict Bitcoin will reach its cycle-high price by the end of this year may be misunderstanding the principles of statistics, a Bitcoin analyst says.
It comes as several analysts have been forecasting the outcome for Bitcoin in recent times.
“Anyone who thinks Bitcoin has to peak in Q4 of this year does not understand statistics or probability,” PlanC said in an X post on Friday.
“From a statistical and probability standpoint, it is equivalent to flipping a coin and getting tails three times in a row, then betting all your money that the fourth flip MUST BE tails,” PlanC said, explaining that relying on the three previous halving cycles doesn’t provide enough statistically significant data.
