• Ethereum whales have begun moving away from ETH as the MVRV ratio increased.
• Retail investors and validators continued to support Ethereum, despite high selling pressure.
• The negative issuance of ETH has led to an increase in validator numbers, which could be a sign of future bullishness.

Ethereum Whales Move Away

Ethereum whales have started selling their holdings due to the current high MVRV ratio. This has created some selling pressure on the network but retail investors and validators continue to HODL, providing some support for the cryptocurrency.

High MVRV Ratio

The MVRV ratio for Ethereum reached a one-month-high according to Glassnode’s data. A high MVRV suggests that most ETH holders would make a profit if they sold their holdings, creating more selling pressure on various addresses.

Retail Investors Stay Hopeful

Retail investors are still interested in Ethereum due to its negative issuance, which could lead to scarcity of coins and potentially drive up its value in the future. Along with this, there is also increasing activity on the Ethereum network with fees paid reaching a 8-month high according to Glassnode’s data.

Increasing Validator Numbers

The number of validators on the Ethereum network has grown by 3.89% in 30 days according to Staking Rewards‘ data. This could be attributed to the revenue generated by them and may be seen as a signal of potential bullishness ahead for ETH prices.

Conclusion

Whales have started moving away from ETH due to its high MVRV ratio but retail investors and validators remain hopeful about its future prospects due to increasing activity and negative net issuance levels on the network. The growth in validator numbers also adds optimism towards potential bullishness for ETH prices ahead

• The US Bureau of Labor Statistics issued its Consumer Price Index (CPI) report, which showed a 0.5% increase in January and an annual rate of inflation at 6.4%.
• Options traders had bearish sentiments towards Bitcoin prior to the CPI announcement.
• After the news was released, BTC prices initially tumbled on the six-hour timescale chart before recovering and closing at around $22,400.

US Bureau of Labor Statistics releases CPI Report

The US Bureau of Labor Statistics issued its Consumer Price Index (CPI) report on 14 February, ending days of anticipation and rumors. According to the estimates of economic experts, the CPI increased by 0.5% in January, up from 0.1% in December. The annual inflation rate, however, was much higher than expected, coming in at 6.4% (up from 6.5% in December) despite forecasts of only 6.2%. In addition, the core CPI, which excludes food and energy costs, rose 5.6% from a year ago. This was quicker than the 5.5% predicted and down from 5.7% in the previous month. According to the numbers, the Federal Reserve will probably maintain its hawkish stance with further interest rate hikes possibly being discussed at future Federal Open Market Committee (FOMC) meetings.

Options 25 Delta Skew Pre-CPI

As measured by the Options 25 Delta Skew statistic prior to the release of the CPI report indicates that puts were more popular than calls with investors deeming them more expensive than calls signaling a bearish sentiment before the CPI announcement was made publically available..

BTC’s Volatility After CPI Release

Bitcoin’s volatility has been decreasing as nerves calm after news release according to Coinglass‘ Volatility Index which recorded an observed volatility just over 2%, seemingly decreasing as time goes on post-report release date..

Recovery Post-CPI Announcement

The market’s reaction to the CPI report saw some volatility after its release with Bitcoin prices initially tumbling on a six-hour timescale chart before it jumped by $700 reaching a trading high of $22300 before retracing back down to close near $22400 later that day .

Current Value for 1 BTC

At present 1 BTC is worth approximately $22100 representing a loss over 500 dollars from its initial high post-CPI announcement showing that although there is potential for recovery there is still uncertainty within Bitcoin’s value .

North Korea-linked Hackers Stole Cryptocurrency Assets

• North Korean hackers stole between $630 million and more than $1 billion in cryptocurrency assets last year, according to a confidential United Nations report.
• The independent sanctions monitor stated that the cybercriminals used increasingly sophisticated techniques to gain access to digital networks involved in cyber finance.
• A report published by the blockchain analytics firm Chainalysis linked North Korean hackers to at least $1.7 billion in stolen cryptocurrency in 2022.

UN Report Details North Korea’s Cybercrime Activity

A confidential United Nations report seen by Reuters on 6 February was reportedly submitted to a 15-member North Korea sanctions committee last week. According to the report, North Korea-linked hackers stole around $630 million – $1 billion in cryptocurrency assets in 2022. The hackers reportedly targeted foreign aerospace and defense companies.

North Korean hackers have stolen more cryptocurrency assets in 2022 than any other year, mentioned the report. The independent sanctions monitor, in its report to the UN Security Council Committee, stated: „[North Korea] used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance, and to steal information of potential value, including to its weapons programmes,“

Chainalysis Reports Linked North Korean Hackers To At Least $1.7 Billion In Stolen Cryptocurrency

A report published last week by the blockchain analytics firm Chainalysis linked North Korean hackers to at least $1.7 billion in stolen cryptocurrency in 2022—making it a record year for crypto hacking. The firm identified cybercriminal syndicates as being responsible for most of these thefts and said that North Korea’s total exports amounted only up to $142 million—implying that cryptocurrency hacking accounted for a sizable portion of their economy this past year. The report also mentioned that hacks of decentralized finance (DeFi) protocols amounted up towards at least$1.1 billion putting them at the forefront of this DeFi trend which could intensify further into 2022.

North Korean Intelligence Allegedly Behind Cyber Attacks

The company also discovered that North Korean-linked hackers frequently sent colossal sums through mixers like Tornado Cash and Sinbad which was higher than funds usually sent by other individuals or groups out there as well as making sure not get tracked down easily . Though North Korea has often denied being responsible for these recent attacks ,the new UN report claims otherwise stating that their primary intelligence bureau ,the Reconnaissance General Bureau employs several groups such as Kimsuky ,Lazarus Group and Andariel specifically for these attacks .The full detailed version of this reports will be released either this January or early March 2023 .

Conclusion

It is clear from this article that due to their growing sophistication ,North Koreans are able topull off some major heists successfully if not caught right away .Though they still deny any involvement with these crimes but it looks like they are going no where anytime soon with all their efforts put into stealing large amounts of cryptocurrencies from different sources . It is important for people out thereto stay aware about such activities so they can keep themselves safe from any untoward incidents .