$1B of Bitcoin Moved From Silk Road Wallet – November 4

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$13,645

Bitcoin price retested $14,000 resistance today, finding itself back in the mid $13,000s once again.

Top-20 altcoins have become a little more stable, as Ethereum and XRP each gain around 1%, while Cardano leads the pack with a 4% rise.

Top Stories for November 4, 2020 🔥

👉 $1B of Bitcoin Moved From Silk Road Wallet

Almost $1 billion worth of Bitcoin has been moved in a wallet connected to the Silk Road dark web market today.

Crypto intelligence company CipherTrace reported that a total of 69,370 Bitcoins were moved, most likely for the reason of switching address formats to stay up to date with current Bitcoin network conventions.

Another possibility suggested by CipherTrace was a hack or effort to prevent a hack, due to the wallet being a focus of hackers in recent years.

👉 Decentralized Prediction Market Use Increases With 2020 Election

The Block has reported that the current US election has boosted activity on decentralized prediction markets such as Augur.

Open interest on Augur recently passed $4 million, with data showing much of this volume coming through an election-focused user interface, Catnip.exchange.

Polymarket also captured increased trading volumes leading up to the election, with 91% of volume coming from its election-related markets.

👉 PayPal Plans to Significantly Expand Cryptocurrency Services 

Dan Schulman, CEO of PayPal, has outlined further plans to expand his company’s range of cryptocurrency services, following a PayPal Q3 earnings call.

Schulman described plans including potential partnerships with central banks, as well as shopping tools and a Venmo integration.