Table of Contents
- As of May 16, 2023, there are now 1 million individual wallets that hold 1 Bitcoin each
- Justin Sun, the founder of Tron, has accused the brother of Huobi founder Li Lin of acquiring Huobi’s native token (HT) for free and then selling it for a profit
- Ledger defends new wallet recovery service against criticism
- Bitski partners with Ledger to make Web3 more secure
As of May 16, 2023, there are now 1 million individual wallets that hold 1 Bitcoin each
As of May 16, 2023, there are now over 1 million individual wallets that hold at least one Bitcoin. This is a 20% increase from February 2022.
The data shows that the number of wallets holding one bitcoin increased by 79,000 between November and January, even as the price of bitcoin fell from over $22,000 to briefly under $16,000.
The recent rise in ‘Bitcoin Request for Comment’ (BRC-20) tokens has not had a significant impact on the number of wealthy Bitcoin holders.
Only 30,000 new wallets holding one bitcoin have been added since the BRC-20 token standard was launched in March.
BRC-20 tokens allow developers to issue tokens on the Bitcoin network and build decentralized finance (DeFi) services such as lending and borrowing.
This has contributed to fees on the Bitcoin blockchain surging to two-year highs, as there is more demand for block space.
Altcoins issued on Bitcoin reached a cumulative market capitalization of as high as $1.6 billion earlier this month.
Despite the large number of wealthy Bitcoin holders, some market observers have noted that most current Bitcoin transactions come from smaller wallets.
This suggests that cryptocurrency is still being used primarily as a means of payment, rather than as a store of value.
Justin Sun, the founder of Tron, has accused the brother of Huobi founder Li Lin of acquiring Huobi’s native token (HT) for free and then selling it for a profit
Justin Sun, the founder of Tron and a stakeholder in Huobi, has accused Li Wei, the brother of Huobi founder Li Lin, of acquiring Huobi’s native token (HT) for free and then selling it for a profit.
Sun claims that Li Wei received millions of HT tokens for free when the token was initially distributed. Sun alleges that Li Wei has been consistently selling off these HT tokens and cashing out.
Sun has called for Li Wei to return the HT tokens that he acquired for free and to destroy the remaining tokens. Sun has also said that he will be taking legal action against Li Wei.
Li Wei has denied Sun’s allegations. He has said that he acquired the HT tokens through legitimate means and that he has not done anything wrong.
The HT token has lost 43% of its value over the past seven days but has recovered by 3.16% following Sun’s tweets. HT is currently trading at $2.90 with a market cap of $450 million. It reached an all-time high of $33.28 in May 2021.
The accusations against Li Wei have raised questions about the governance and transparency of Huobi. Sun has said that he believes in rewarding those who “genuinely contribute to the growth and development of HT DAO.” Li Wei has not made any contributions to the HT community.
It is unclear what the outcome of this situation will be.
However, Sun’s allegations have damaged the reputation of Huobi and could lead to legal action.
Ledger defends new wallet recovery service against criticism
Ledger, a cryptocurrency wallet maker, has been criticized for its new “Ledger Recover” feature.
The service allows users to store encrypted copies of their seed phrases with third-party custodians.
Some people believe that this undermines Ledger’s commitment to privacy and security.
Ledger CEO Pascal Gauthier defended the feature in a Twitter Space session.
He said that the service is designed to make it easier for new users to get started with cryptocurrency.
He also said that the service is secure and that Ledger has a strong track record of protecting user data.
The controversy highlights the tension between blockchain-focused companies that want to attract new users and ideologically minded segments of the crypto community.
Some people believe that cryptocurrency should be decentralized and that users should be in control of their own data. Others believe that it is necessary to compromise on some of these ideals in order to make cryptocurrency more accessible to the general public.
It is still too early to say how the Ledger Recover feature will be received by the crypto community.
However, the controversy underscores the importance of security and privacy in the cryptocurrency space.
Bitski partners with Ledger to make Web3 more secure
Bitski, a Web3 wallet, is adding support for Ledger hardware wallets.
This will allow Bitski users to connect their Ledger wallets to the Bitski app, which will provide an additional layer of security for their assets.
Ledger wallets are physical devices that store users’ cryptocurrency keys offline. This makes them much more secure than software wallets, which are stored on devices that are connected to the internet. By connecting their Ledger wallets to Bitski, users can be confident that their assets are safe from hackers and other threats.
The integration of Ledger support into Bitski is a significant step towards making Web3 more secure. Web3 is the next generation of the internet, which is built on blockchain technology. Blockchain is a secure and transparent way to store data, and it is essential for the development of Web3. However, blockchain technology is still new, and there are some security risks associated with it. The integration of Ledger support into Bitski will help to mitigate these risks and make Web3 more secure for everyone.
Here are some of the benefits of the Bitski-Ledger integration:
- Increased security: Ledger wallets are physical devices that store users’ cryptocurrency keys offline. This makes them much more secure than software wallets, which are stored on devices that are connected to the internet.
- Improved user experience: The Bitski-Ledger integration will make it easier for users to connect their Ledger wallets to the Bitski app. This will provide a more seamless and secure user experience.
- Increased adoption: The Bitski-Ledger integration will help to increase the adoption of Web3. By making Web3 more secure, Bitski and Ledger will make it easier for people to use and trust this new technology.
Here are some quotes from the people involved in the integration:
- Donnie Dinch, CEO and co-founder of Bitski, said: “We’re excited to work with a leader in the hardware wallet space, one that is focused on user experience and beautiful design.”
- Ian Rogers, chief experience officer at Ledger, said: “With the combination of Bitski’s user-friendly interface and our expertise in wallet encryption, we are dedicated to making crypto more accessible to all.”