Australian Federal Police Form Crypto Unit – September 5

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,877

Bitcoin price is hovering just below $20,000 to start the week, continuing its magnetism to the major support and resistance level..

Top-20 altcoins are somewhat stagnant, however Ethereum has risen 3% and Ethereum Classic has surged 14%. Polkadot is also an exception, gaining 4% over the last 24 hours.

Top Stories for September 5, 2022 πŸ”₯

πŸ‘‰ Australian Federal Police Form Crypto Unit

The Australian Federal Police Force (AFP) has created a new cryptocurrency-focused unit, targeting money laundering, following a reported increase in the use of crypto in criminal activity.

The agency will be looking to perform “investigative tracing”, but will not be receiving additional powers to seize assets, according to the Australian Financial Review.

πŸ‘‰ Data Shows BTC Bull-Runs Happen After Dormant Supply Peaks

Analysts have published a correlation between Bitcoin bull-runs and inactive coins, showing that these runs occur when a a large proportion of Bitcoin addresses remain “dormant” for a year or more.

Data from Glassnode shows that around 65% of the Bitcoin supply has currently been inactive for this threshold, indicating a bull-run could be on the horizon.

πŸ‘‰ Ethereum Classic Hash-Rate Reaches All-Time High

The Ethereum Classic network is witnessing the most mining activity of its lifetime, as miners shift away from Ethereum before the Merge – a shift to proof-of-stake (PoS) on the main network.

After the Merge, miners will immediately cease to have a use on the network, forcing them to head elsewhere. Ethereum Classic has benefitted from the move, along with its price, which has risen 14% over the last 24 hours.