Bitcoin Falls 1.4% After US Payroll Data, FTX Japan Works To Offer Liquidity

The biggest news in the crypto-verse for Dec. 2 includes Bitcoin’s negative 1.4% reaction to the U.S. payroll data, FTX Japan’s efforts to bring liquidity back, and Binance’s $3 million freezing as a precaution after the Ankr protocol got exploited.

CryptoSlate Top Stories

Bitcoin drops 1.4% on better-than-expected U.S. payroll data

The U.S. Bureau of Labor Statistics’ recent payroll data revealed that 263,000 jobs were added during the month of November. Bitcoin (BTC) reacted to this news by falling 1.4% to be traded at $16.780.

FTX Japan to Unfreeze Withdrawals of Client Funds

FTX’s Japanese subsidiary has been working on a financial plan to allow users to withdraw funds.

On Dec. 2, the subsidiary announced that the related authorities approved its plans and that the users would be able to withdraw soon.

Binance freezes $3M from Ankr exploit.

An attacker exploited a bug in Ankr Protocol’s (ANKR) code and minted six quadrillions of aBNBc tokens. The exploiter converted a part into a $5 million Coin (USDC).

Possible hacks on Ankr and Hay. Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one. Binance paused withdrawals a few hrs ago. Also froze about $3m that hackers move to our CEX.

— CZ 🔶 Binance (@cz_binance) December 2, 2022

Binance’s CEO Changpeng Zhao said that the exchange froze around $3 million of its funds in response to the exploit.

Over 8% of Bitcoin supply was bought between $15.5K and $17K

According to the UTXO Realized Price Distribution (URDP) metric, 8% of the total Bitcoin supply was purchased when the price was between $15,000 and $17,000.

While the 8% volume signals that further redistribution is likely, Bitcoin consolidation remains high, which suggests long-term holders are in control.

OpenSea’s Ethereum gas usage has declined to almost zero

NFT marketplace OpenSea’s Ethereum (ETH) gas usage has been declining for the last five months.

According to the data from Dune Analytics, gas fees in ERCC721 and ERC1155 token standards that took place in major NFT marketplaces spiked between Oct. 2021 and January 2022, and OpenSea accounted for around 20% of this volume.