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Bitcoin [BTC] notes transactions worth $7 billion over the past day, finds report

Namrata Shukla

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Bitcoin [BTC] notes transactions worth $7 billion over the past day, finds report
Source: Pixabay

The cryptocurrency market saw a rise in the price of most major cryptocurrencies, including Tezos [XTZ], Bitcoin Cash [BCH] and Litecoin [LTC], on April 15. The price of the largest cryptocurrency, Bitcoin [BTC] also remained above $5k and noted minimal growth. However, according to TrustNodes, almost $7 billion worth of BTC was moved on-chain over the past day with 1.3 billion Bitcoin in trade.

The report stated that over a quarter of a billion dollars was being moved every hour with “the average transaction value standing at $22,000, while the median is at $100”. Hundred largest transactions included movement of $850 million or 165,000 bitcoin. This is over 10% of the entire transfers that took place. The speculated identity behind this transfer was regular individuals using the cryptocurrency for international transfers, commerce or exchange value.

BitPay’s COO, Sonny Singh, in an earlier statement had noted that some merchants handle $10 million worth of transaction in Bitcoin payments in a month. Apart from Bitpay, there are other exchanges like Coinbase commerce, Bitcoin Suisse, and Coinify that indulge in Bitcoin merchant payments.

Apart from merchant payments, Bitcoin transactions take place internationally. Bitcoin transfers were notably high when it came to International payments as they were swifter alternatives to banks. The report said:



“Russia very interestingly tops Localbitcoin volumes at about 3,000 a week, worth circa $15 million, twice that of USA or the European Union.”

Although the reasons for this is not clear, bypassing sanctions could be an underlying use-case, avoiding the whole banking system.

Bitcoin [BTC], at press time, was being traded at $5,159.63 with a market cap of $91 billion. It noted a 24-hour trading volume of $11 billion, while noting a growth of 1.35% over the past day. Over the past seven days, BTC noted a dip 0.99%, but was strengthening as it noted a minuscule growth of 0.07% within an hour.





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Bitcoin SV’s Craig Wright withdraws email evidence submitted to court as he could not verify date of email exchange

Priya

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Bitcoin SV's Craig Wright withdraws email evidence submitted to court as he could not verify date of exchange
Source: Unsplash

Craig Wright, the self-proclaimed Satoshi Nakamoto, has been in the limelight for the past few days. Apart from the news surrounding a lawsuit over a defamation case, Wright also made headlines due to the news pertaining to the Dave Kleiman case.

Earlier this week, a Reddit user stated in a post that Wright “purposely” submitted a fake email as evidence to the court for the Kleiman -Wright lawsuit. The lawsuit alleges that Wright had stolen $1 million Bitcoin from Dave Kleiman after his death, and Wright was being sued for billions of dollars.

The Redditor had stated,



“Craig Wright’s fraud continues. Yesterday, he submitted into evidence an email he says was from Dave Kleiman to Uyen Nguyen asking her to be a director of his ‘bitcoin company’ in late 2012. It is provably fake. Craig didn’t realize that the email’s PGP signature includes a signing timestamp along with the ID of the key used as metadata.”

Source: Reddit

Source: Reddit

Apart from this, it was also pointed out that the spelling “Kleiman” was misspelled in the letter, as the from address spelled it “Klieman”. Now, according to a new court document, Wright has withdrawn this evidence by stating that he cannot verify the date of the email exchange.

The court letter said,

“Dr. Craig Wright respectfully notifies the Court that he withdraws Exhibit A to his Motion for Judgement on the Pleadings for Lack of Subject-Matter Jurisdiction […] Wright is not withdrawing the motion and maintains that this Court lacks subject-matter jurisdiction over this action”





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